Finance

Why Saving Is Important And What Rule To Follow

Why Saving Is Important And What Rule To Follow

Finance
The personal savings rate is lately taking a southward turn as many people are having trouble in stashing away money. Below are some tips how you could avoid some financial dangers: Experts suggest one common rule of saving and it is called "The 50/15/5," which mean don't spend more than 50 percent of your salary on essential expenses like food, transportation and housing, and try to save at least 15 percent of the pre-tax income for retirement along with 5 percent for emergencies. This mean you are left with 30 percent of your income for the freedom of spending the other ways. However, following the said rule become difficult for many people as they argue keeping essential expenses to half of the salary is not easy. Take a look to the popular website AmericaSaves.org that dis...
How To Come Out Of Living Paycheck To Paycheck

How To Come Out Of Living Paycheck To Paycheck

Finance
You work hard to earn the money that you need every day, every week and every month to make ends meet, but sometimes, even most of the times for many, balancing the income and expenditure become tough. If believed to a report from CareerBuilder based on their survey, more than three-forth of Americans live paycheck to paycheck some of the time. The percentage is growing too. CareerBuilder surveyed 3,462 full-time workers and another 2,369 full-time employers, and found even though people are earning higher wages, but are still struggling to make ends meet. The survey found 71 percent of the Americans said they are in some amount of debt. The figure last year was 68 percent. This mean there's an increase of 3 percent and it will grow further in 2018. Shopping to buy temporar...
How To Manage You Finance Intelligently

How To Manage You Finance Intelligently

Finance
Financial independence is not something great or tough to achieve. It is simply the intelligence on how you manage your finance efficiently. Do take note that accumulated wealth does not make an individual rich, but what matters here are information, knowledge, wisdom and know-how. Below are couple of cool suggestions how you can stand strong on financial grounds: Plan monthly budget It is true rising income is not an easy task, but you can easily reduce your expenses. Certain expenses are voluntary in nature and so you can easily control those. It is recommended to cut down your expenses to certain percentage like about one-tenth of the total and invest in long term equity mutual funds. You will see over the period of say 20 or 25 years it will yield you huge. Treat the investme...
How To Make Less Financial Mistakes In Your Twenties

How To Make Less Financial Mistakes In Your Twenties

Finance
You have impulsive behaviors during the college days. The decision making is very rash then and spending is like express format. You also tend to make more mistakes then as you have more room to fall and recover. You also get greater chance of learning from your mistakes. However, if believed to the common saying of German chancellor Otto von Bismarck, you need to be more sensitive during the college age. He said, "Only a fool learns from his own mistakes. The wise man learns from the mistakes of others." Below are some important tips how to make less financial mistakes in life: Budget yourself It is always suggested to budget yourself. Start even now. It is never too late even if you are not in your twenties. Budget making is highly essential as you will come to know what you ar...
Achieving Financial Success: How to Straighten out Your Finances

Achieving Financial Success: How to Straighten out Your Finances

Finance
We all aspire for financial freedom. Money is a critical aspect of our lives. Over a third of American investors define financial success as being debt free. It is also defined as the ability to save money for long term goals like education and retirement. Financial hardships have a negative impart on our lives. Lack of money creates stress, anxiety and disagreements in our lives. In fact, it ruins marriages, tears families apart and keeps people from achieving their dreams. We all need to have money to live. How to achieve a financial breakthrough Achieving financial freedom involves taking several steps. You must change your financial habits, make good decisions about the resources you have and live positively. Regardless of your income or age it is critical to have a person...
Things To Know While Borrowing Money From Relative, Friend

Things To Know While Borrowing Money From Relative, Friend

Finance
Money is important in life. It is more important when you have it during the period when you urgently are in need. Under such circumstances people usually borrow from friends or relatives, but paying on time is equally important. Below are some suggestions what to do while borrowing from a relative or from a friend: Realistic Timeline to pay You should always try to make your relative or friend understand that you can be able to pay the debt on time. Don't promise to pay in few days or about a week, but the effort should be to do it as early as possible. Your honesty is most important here as the debtor will understand whether to accommodate your next request. Make payment on time Give more priority to pay the personal debt compared to your other expenses. Always know that ...