Have a look at the 5 financial tips for the first week of June 2013.
Tip no1: Overdrafting is a terrible habit. Check and record your banking transactions to avoid overdraft fees.
Overdrafting is one of the most terrible financial habits. It makes you spend additional dollars. Though it is true that overdrafting doesn’t make a serious damage to your financial health, yet you end up spending hundreds of dollars pointlessly. You could have spent the money where it is urgently required.
Check your account balance from time to time. Review your automatic payments and check the available balance in your account. This will help to prevent you from overdrawing your bank account.
Tip no2: Don’t get depressed if you remain jobless after finishing studies. Widen your job search and improve your skills.
Don’t get disheartened if you fail to grab a job after graduating from your college. Instead of getting frustrated and depressed, utilize the time to improve your skills. You can enroll into a course. If you don’t have excellent inter-personal skills, then start giving mock interviews to your parents or siblings. This may help you boost your confidence and skill. Next time you go for an interview, you won’t search for words while looking at the face of the interviewer. On the other hand, broaden your job search. Don’t hesitate to apply for a position even if you’re qualified for it. Be ready to shift to another town if a job demands that.
Tip no3: Scan your bill to find an error. A single mistake can cost you hundreds of dollars.
Check your bill and find out if there’s a charge you’re not aware of. If you've been charged a foreign transaction fee when you haven’t left your place in the past few months, then contact the credit card company and discuss about the issue. The company will look into the matter and rectify their mistake.
You would have paid the charge if you didn’t check your bill properly. This means you would have paid extra dollars unnecessarily, which is not a good financial habit. Make sure you always know why and how much you are paying on bills every month.
Tip no4: Try to do 2 jobs when you’re young. This will help to supplement your income.
Not many graduates are able to get a great job at the very beginning of their career. So, don’t fret if you’re not satisfied with your present job and pay scale. Take up a part-time job during your weekends. This will help to augment your income without sacrificing your present job.
You’re young and full of energy. This is the time to make as much money as possible. You may not have this level of energy in your mid 30’s and 40’s. As such, you may not have the stamina to do a part-time job even if you want to.
Tip no5: Replace dinners at classy restaurants with homemade meals. Save money to focus on the priorities of your life.
When debt is wreaking havoc in your life, it’s time to shift your focus from entertainment to money saving strategies. Make it your goal to replace at least one entertainment with anything that is financially savvy. Start cooking delicious recipes at home. Believe it or not, you can actually have great dishes at home while saving hundreds of dollars. You can just check out some interesting recipes from Internet and magazines. Once, you’ve selected a recipe, all you need to do is put on your chef coat and have a hearty but cost-effective family dinner at home.
With proper help you can
- Lower your monthly payments
- Reduce credit card interest rates
- Waive late fees
- Reduce collection calls
- Avoid bankruptcy
- Have only one monthly payment