Nowadays people work hard to earn money. There are many ways to earn money and some jobs are really not that easy. That is why people learn the value of money by saving them for short term and long-term purposes. Others invest in insurance, businesses and purchasing other assets like buying house and lot. These are only some of the examples in showing you are really in charge of your money and you do know where you put your money.

You should be able to manage your money and be smart also. Life is not that easy when you allow money to be in control instead of you controlling your money. So if you are the kind of person that does not know how to manage your money, here are the ways to be in charge.

Be Smart

Think well before buying. Know the meaning of needs and wants. Need is something that is in line with the basic commodities and wants are just the things you cannot resist. In other words needs are important and wants are temptations. You just have to weigh things and focus what matters most. Wants are not that bad if you do have an extra money for that.

Plan Ahead

Planning ahead concerning money means keeping a notebook or journal for the cash flow. You should know your monthly cash flow ,that would be your income and expenses. These are already the permanent financial activities, and with this you already have an idea of how much money left for you to save .

Savings

Of course , when you have work your goal is to save money for important purposes. Some people save after they spend, and this is the wrong way. If your purpose really is to save then take 20% out of your salary and put it straight to your bank account. You need to have a bank savings account with passbook and not the atm savings account. For sure you will always be tempted to get money anytime you want. You can also have other kinds of account like time deposit or 2 savings account, one for emergency funds and the other the usual savings.

You can earn extra income by selling your unused clothes and other unused items. This you can add it to your savings and you can already but the things you want from your extra income.
Never own a credit card unless you are sure you can manage on how to use them. There is really a big chance for you to be at high risk when you are not able to pay on time. Interests and other charges will start to eat you up. That you will get bad not only credit scores and credit standing. This means you can no longer apply for loan when the need arises.

It is best to shop when there are promos and discounts offered. This is the best way to save. Just look for the best quality that is really worth the discount. If you the money you can buy in bulk the products that are in discount, this will really save you big cash. You can also purchase on second hand clothes, bags and shoes just choose the durable and best ones as well.

Spend time tracking down your expenses for the day. This is in order to give you an idea how little expenses can be big when you add them. You will also be aware of how to budget your money well.

Nothing is wrong when you follow these tips. You can earn more and likewise be positive in handling your finances. If you want to start anew and be free from financial problems then this is the best time to change and read this everyday as your guide. You might see the difference in just a month. Try it.

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