Saving Your Money

There are a lot of ways on how to effectively save money for our future use on any expenses or emergency purposes. You can focus on the smartest and valuable thing to do which is by starting to the smaller amount first and then learn how to move for big savings. If you look for the money you saved on your groceries, home, car and credit, these are considered as part of the biggest savings you made. Here are some spending tips I can provide to help you save your money :

Avoid buying unnecessary things.  

This only means that you have to buy first your most necessary things (home and personal use) instead of luxuries. Don’t spend too much on the things with no use at all and make a list of the things you will buy ( for example in groceries) or just stick for the list you used to. Just avoid impulsive spending. In terms of buying food, make sure to check its nutritional value and within the range of lower price value. In this instance, you saved your own pocket as well as you saved your health.

Know how to price match

The best way to price match when you shop is to bring flyers. Just give it a try to yourself and see what is the benefit of it to save some of your money. It is important to check the difference of the price value of the products that you will purchase either into a physical store or via online. The flyers are needed especially when you shop at the grocery store and you will be able to know if a competitor is advertising a lower price. This will be one of a kind way to save.

Take a lunch to work

For an honest reason, most of us don’t actually realize how much we spend on simple things like buying lunch for our everyday work instead of bringing prepared food which is cooked at home. So here is the thing, we can actually save 30%-40% of our money by just simply taking a portion of food for lunch. This will be a great contribution to save your money.

Shop on discount days.

Most stores or retailers actually offer discounts every month. It will be perfect for you to plan on buying things with the least expensive you will use.

Save your change.

Putting and saving your loose change in a jar at the end of the day will help you to increase the amount of money you are saving.

Try to buy products that aren’t branded for discount stores

This will be helpful because unbranded products for electronics, vehicles , clothing, and groceries has often the same manufacturer for their branded counterparts. What matters most is that the significance of every merchandise is still the same.

So that will maybe the easiest methods to keep your money. It is essential for us to remember these things as it will truly help for our future needs.

Risks of Credit Cards

Nowadays, more people are using credit cards for purchasing goods or services using credit. Some of us don’t actually know what are the dangers we’re facing having it. In our daily activities, there are some instances that we have to use this card rather than paying it in cash and we are unaware that sometimes there are additional hidden charges.  Most of the major credit cards which include Visa, Mastercard, Discover, and American Express, are issued by banks, credit unions or other financial institutions to be released every single day.

One of the risks for having a credit card is commonly known as fraud. Your physical credit card itself can be stolen or a thief specifically a hacker can steal all your information from the company you’ve shopped with. And the best way to avoid this scenario is to monitor your credit card often and report immediately any suspicious and unauthorized charges you found.  Just keep your card safe and don’t toss credit card’s billing statements directly into the trash instead shred them. Avoid giving out your credit card information specially the number to scammers via phone call. Be also safe via online and don’t click any email links you see that looks like your bank who uses personal information. It will help if you also make a very strong password and make them safe.

The second thing is you might get risk into debt. So anytime that you borrow money, you are actually creating debt. The more you borrow without repaying, the deeper you get into debt. Having a lot of debt lead to stress, depression and other psychological problems. And the worst case is that you maybe feel trapped in your job or delay your educational goals. To avoid this kind of situation, be ahead or on time and pay all of your balance in a month. And also stop using your credit cards and focus on living within your means to keep it getting in your head. Don’t borrow a lot of debt if you think you can’t repay it on time.

Another danger with a credit card that will also be a factor is the temptation to overspend. Consumer owning a credit card spend more rather than spending their cash because it is somehow easy and convenient without feeling the pain of cash leaving in your wallet. You can stop this by setting a list of your personal spending limit with your credit card. Be mindful and set goals not overspending just to live a lifestyle you can’t afford to impress people. There a lot of things to prioritize and what matters most is the important things you need to use for your daily life.