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In today’s busy world, it is way too easy for the average person to lose track of his/her finances. I am the first to admit that I can easily forget to pay a bill on time or accidentally overextend my personal budget. Speaking from experience, I have found that it is very natural to lose track of the day of the week or even what month it is, and that sometimes results in unanticipated late fees and even a drop in those valuable credit ratings. For those reasons, it is imperative that everyone makes it a priority to manage his/her personal finances, and I have discovered a few helpful tips to help me out in this area.
Use a Credit Card/Debit Card To Track Spending
This has been one of the easiest ways for me to manage my finances. I basically use my credit card to pay for just about everything. Not only that, but I used a credit card that rewards me in some way. First of all, it’s easy to see what I spend because I always have access online instantly regarding what I spent and where I spent it. But having a credit card that gives me rewards is something that makes shopping at my favorite stores so much fun! I never figure that extra money into my budget, so when the rewards come, I use that money to treat myself with something I wouldn’t normally buy or something that has been on my wishlist for a while. I highly recommend doing the research in order to discover the best credit/debit card for your needs with an awesome rewards program that fits your interests and lifestyle.
Broaden Your Income Resources
I am a substitute teacher by trade, and I could easily become a classroom teacher if I chose to do so. Regardless, it is in your best interest to search for additional ways to make income. When you diversify your income sources, no matter how small, it gives you that little added boost that benefits you when saving for unexpected expenses and/or emergencies. It also is a way to pursue something about which you are passionate. The perfect example is what I am doing currently. Being an entertainment journalist is a passion of mine, and it has given me just a little extra income on the side. I cannot tell you what a peace of mind it gives me when going on summer vacation or having to replace that high-end item that suddenly wore out after five or ten years. It truly gives me a sense of accomplishment to know that I am capable of earning just a little extra supplemental income, and in time, it may become my primary income source.
Utilize Free Online Financial Aids
I cannot stress this one enough! If you struggle to get your bills paid on time or to stay within your budget, there is a wealth of help online either through your computer, laptop, tablet, or phone that will help you track your money for free. While there are paid options available, take advantage of all the free help out there! It can be something as simple as setting up email or text alerts when your bills are due or automatically tracking your budget spending through a wide variety of apps. This is something that is vital for you to control, and as busy as you are, it’s grand to know that even in this information age, there are technological advancements that can assist us with vital tasks such as these.
