For most people, mastering the art of handling money is truly a challenge. It’s really difficult for us to do it, difficult for us to admit that we don’t know how to do it and it wasn’t really something we were taught while growing up. As kids, our parents bailed us out when we ran out of pocket money. Hence, we never really learned. Here are five simple ways in which you can better your financial status today.
1. Sign Up For Automatic Savings: Most banks offer an automatic savings plan. Have a certain amount diverted to another account and promise yourself that under no ordinary circumstances will you touch it. To make sure this happens, don’t get an ATM card for this account.
2. Get More Out Of Your Paycheck: Have a long, hard look at your salary statement in terms of the benefits that you’re offered. Pay strict attention to the amounts allotted to health care, daycare, and ensure that you’ve got yourself the right plan that is ‘you’ specific.
3. Stop Before You Purchase: Think twice before you buy anything you didn’t intend on purchasing. The easier way to do it is to tell yourself that you’ll come back and purchase it the next day. If you’re shopping for something online, leave the item in your cart and get off the site. In a day’s time, you might reconsider your decision.
4. Your Financial Arms: Make sure that you keep a tab on all your financial arms -- your bank account, your credit cards, your financial statements and so on. Paying your bills on time and reducing the balances of your credit cards is a good start.
5. Get Yourself A Debit Card And Use It: Debit cards are really the best bet! You don’t have to worry about getting in over your head in credit card debt, you’re never surprised by bills and always have a certain amount at your disposal.
Paying attention to each of these and following up with them on a day-to-day basis could go a long way in improving your financial status.
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