Everyone has questions about their personal finances at some point. And truthfully, it can be hard to find reliable and trusted answers. Whether you are dealing with a minor decision or a major issue, this article will help give you some basic answers and advice you need to keep your personal finances in order.
#1) Always keep up with highly important documents like birth certificates, tax records, insurance policies, and other major documents by scanning them to your computer system. Next, place all images onto a USB stick that can be easily accessed anywhere at anytime. This makes it much more convenient to track down critical information during an emergency.
#2) Try to avoid eating out as often as possible. It may seem like a fairly good idea to go to McDonalds for lunch, but those little expenses add up. Often it's much cheaper to make a sandwich for lunch or cook dinner at home. Plus, eating out all the time makes it harder to stay lean and fit. Here's another great tip: whenever you cook, make extra and have it saved for lunch or dinner another time.
#3) Look at your personal finances on a regularly basis. I reccomend that you sit down and review your finances every 3 months, but it should be reviewed on a yearly basis at a bare minimum. This is particularly true if you have an investment portfolio or retirement accounts. Reorganize your investments periodically to maintain a balanced portfolio (see article here). Be mindful of your retirement goals and the strategy you have in place for investments. Take a look at your investments, and see if anything needs to be restructured.
#4) Adjusting the temperature that you have your hot water tank set at will help you reduce your monthly utility bill. It only takes a minute but it will save you a great deal of money over the years. It will also help to prevent burns on children or older parents.
#5) If you want to make the most of your money, you should consider getting a rewards credit card. Depending on your lifestyle, you may be better off to get the card that offers the best cash rewards, or the largest number of airline miles. You should also get the credit card that best fits your spending habits. If you were going to spend the money anyway, you should at least get cash back. The bottom line is to always pay the balance off in full every month.