How to save money
Human nature and often our weakness sometimes force us to make serious financial mistakes. Some of them are obvious, but many still underestimate the possible unpleasant consequences to which they lead.
1. Spend less money than you earn.
Financial condition is very similar to the physical health, where you need to maintain a balance between expenditure and intake of energy. Just as we are always fighting with temptation to consume more calories than our bodies require, we must resist the desire to spend more money than we earn.
2. Avoid bad debts.
It mainly concerns the credit card debt. They tend to grow exponentially, and they are extremely difficult to return. Avoid such debt at any cost, even if you will fall behind far away from your brilliant neighbors. Don't be equaled on others, if you can not afford such expenses, as they can. This is one of the fastest ways to financial ruin.
3. Reserve fund.
Constantly filled up reserve fund is the only way to pay for unexpected expenses.
4. Do not strongly tie to material goods. Family, friends, memories are important - not things.
5. Be ready for hard work.
People need to work. It is good for mental and physical health. Do not treat the work as an inevitable evil. Interact with other people.
6. Try to do what you like.
Money is very important but not the only thing that matters. If you can find a way to turn your hobby into the basic work, do so, even if you will lose a little bit of money.
7. Save money for retirement.
Of course, now many retirees continue to work. But there may come a time when you will become ill, because of your age, and your income will drastically reduced.
8. Firstly pay for yourself. If its possible, sign a contract for an automatic 10% deduction from the wages.
9. Pay your all incoming bills in time.
Avoid fines and penalties for late payments. If you have a regular income, then draw up a budget for the month and strictly adhere to it.
10. Work - this is not the place to be a "good girl." This advice applies to women, because they are often afraid to ask for a raise or any privileges for themselves. But this also applies to men, if you think that you deserves more, just ask. Just be prepared to show in numbers what benefits you brought the company last year.
11. Do not think that enormous expenditures on your own learning or studying of your children in elite private higher education institution in the future will bring considerable profit. Of course, those who have a higher education, have more opportunities, but now the situation is such that an elite institution does not guarantee high incomes. It all depends on the abilities of the particular person.
12. Buy used car, which operating life is not more than one year. Older cars not worth buying, as the cost of repairs may exceed all expectations. Not absolutely new car is cheaper, and it state is usually quite good.
13. Do not trust the investment funds with a dubious reputation and financial advisors with unknown intentions. If you want to invest your money somewhere, then learn the foundations of investment and use this knowledge to take care of your own finansial portfolio. Do not treat to this as to the game. This is your future.
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