A tip I was taught when I was young was never buy what you cannot afford. This is the best bit of advice I was ever given, not that I ever follow it. Luckily I am also married to a man who, though not mean, is very careful about where the pennies go. By nature I am a bit of a spend thrift. If I have money in my pocket I tend to spend it. I give some away, buy frivolous things as treats for myself and others and buy more expensive food and I will do this until it has gone. Every bonus is treated as just that -a bonus, something to enjoy and spend. On the other had, if I spent just a bit of it and saved...

Usually recession doesn’t happen too often, but when the forecast is imminent, the signs are apparent that the economy will go into distress mode, it’s also a clear indication that personal finances will be severely affected, although the economy will suffer the brunt of difficulties, peoples jobs may be at risk, through layoffs and redundancies. Preparation is needful to combat the long term effects that recession will have on individuals, as production output declines, trade and industry will find it hard to sustain credit facilities, they will have to figure out a way of saving money,...

Personal finance can be a daunting thing that can be intimidating. If you have the right information, the power over your finances can be yours, not the debt collectors. There are a few simple dos and don’ts that can lead you to financial freedom. Docreate a debt “snowball.” What is that? Simply put, it is arranging your debt so that you can get them paid off in an accelerated timeframe. As an example, take a look at the following: Mortgage: $850 Due 1st Visa Card: $200 Due 15th MasterCard: $150 Due 15th Car Loan: $300 Due 20th Truck Loan: $350 Due 25th Personal Loan: $100 Due...

Every single one of usno matter our location, age, gender, hair color, family background or racehas to manage our personal finances. For some, it’s an exciting passion, a never-ending game of “how much can I accumulate in one lifetime”. For others, it’s just part of life, something that needs to be dealt with but doesn’t border on obsession. And finally, for many of us, personal finance is nothing but drudgery at best and an emotional trigger at worst. Fortunately, there are a few simple rules that will help anyone stay on track, and reduce the amount of stress involved...

How can there be a Problem with a book, unless perhaps it falls and hits you (or maybe challenges you beyond your comfort zone)? Regarding Personal Finance books and how they ‘strike’ you; there are huge differences between the philosophies presented in the wide range of books that are available. Most books and associated TV shows that this author has enjoyed consuming are of the Larry Winget – Dave Ramsey genre’ of cut up your credit cards, live as poorly as possible and save as much as you can. Note that this characterization is very general and of course does not fully...

The problem with personal finance books, is that they don’t allow for the “human factor”. The fact that we are emotional beings, and that we need rewards and encouragement along the way, to help us with our financial goals, are not usually covered in these personal finance books. On paper, it all sounds good, you get excited, this is the year you are going to get back on track, pay off debt, and have lots of savings. You get out the charts as suggested in the finance books, you map a “strict budget” and feel that you will have the strength to stick to it. NOT, this...

The world of personal finance for the average American has never been so confusing and as muddled with options as it does today in the early 21st century. Here are a few of the products and services out in the marketplace that will surely consumers even more: 1. Credit Cards: Credit card companies can be as slippery as a snake. They have all kinds of tricks to gouge your wallet and drive up your bill. While arguably unfair, all these tricks are legal, leaving you no alternative but to stay as informed as possible to protect yourself. If you don’t have a Master’s Degree in English or...

Are you in debt? Well, you’re in good company. The Federal Reserve Board reports that 44% of all Americans are in debt. Debt happens but it’s not the end of the world. There are many services available to help get you out of debt. Of course, they can’t keep you out of debt. You have to do that yourself. But the best personal finance credit management services as well as consolidated loans. There are non-profit credit services in every state in America. Some of these are low-cost to no-cost. You need to get together all of the information on how much you owe and what your...

Personal finance magazines endured a shakeout during the dot-com bust in the early 2000s, and only the strongest have survived today. These magazines provide some valuable basic financial planning information, but, unfortunately, they also are larded with misleading information that can lead a person astray. Separating the wheat from the chaff is a fairly easy task, if you know where to look. The basic problem with mass-market personal finance magazines is that they are dependent on advertising. The magazines therefore have a huge incentive not to criticize the products and services in those ads. And...

The younger generation have no real concept of finance. And unfortunately you can’t really blame that person for their ignorance as years later, their financial debts come back to haunt them. Or can you? Life is never easy and going through rebellious teens to adulthood without understanding the most important things in life, like how to handle your money. It’s really tough, especially when it is too late. Financial problems can happen through blindness, thinking that your parents will always be there to pick you up. Ignorance because you think that if you ignore it, the problem will...

Paying off debt is certainly the number one priority of any person with personal finance issues. The expensive interest charged on debt on a personal basis is perhaps the biggest killer that can occur. Once debt has paid off the feeling is good, and the way to do this systematically is to pay off the more expensive debt first until it is all paid off. Similarly there is no point in having 10,000 of debt and having 10,000 in savings in a current account. The banks are effectively laughing at people in this situation. The cost of debt far outweighs the interest earned through savings. The best approach...

As a guide to personal finance you should first be aware of the things that will help you spend your money and the fast ways of lossing it. Everyone knows the rules like saving for your goal, invest your money wisely and things like that. But it is human nature to break rules. Learning about personal finance is something that every person should have been taught as a child once given an allowance or pocket money. Okay so everyone has free will and can do what they like with their money and then there is also those who no-matter what you say to them or teach will never be able to comprehend monetary...

Being able to manage your personal finances is indeed very crucial during tough economic times. Managing your finances can be easier than you think if you are willing to commit yourself to it. Here are some things you can do to make sure that you have enough money to spend and do not have to borrow unnecessary. Firstly have a budget for your expenses. Basing on your income, decide the maximum amount your want to spend and how much you want to save. Make a list of your expenses so that you can see your spending habits. Look at the list carefully to see if there are any items you can live without....

Why do most people find it hard to live within their means and stay out of debt? The reason is simply this they don’t have the right mindset when it comes to personal finance. In addition, the easy access to credit cards, payday loans and other forms of cash advance makes it difficult to avoid borrowing money or living on credit. Now, we have recognized the problem. It would therefore be perfectly in order attack the problem by dealing with the causative factors and proffering pragmatic solutions to the problem. The most important personal finance tip is self discipline. Without a rigid...

I wish I could upload this this using less than four hundred words because the best way to improve our personal finance is to not fall into the trap of SPENDING. - It’s as though we are creating the financial struggle that our country is now in… by spending we are encouraging competition and by encouraging competition we are increasing the value and the cost of everything. - The so called ‘dos’ of personal finance would include – minimise your expenditure. Look around yourself and assess ‘do I really need more right now?’ - Put life into perspective, sure, the...