Finding yourself with a mountain of debt can be a frightening time and it’s easy to feel that getting yourself free from debt is out of reach. While you may feel temporarily panicked, the good news is that with careful handling, debt can be easily managed – the key is to start small.
If you entered yourself into a marathon, you wouldn’t simply throw all your energy into the one day and hope for the best. You’d train yourself by starting with a small run and as your fitness improved, you’d increase the distance. Once the day of the marathon arrived, you would feel confident that you had prepared yourself and that confidence offers the motivation to finish. The same method can be applied to debt.
Having your perfect dream car is not an easy task as you have to save a great deal of money which needs to be spent on it. Car purchase can be regarded as one of the big investments that need to be made for establishing yourself in society. People, who are interested in driving expensive cars often, change them every now and then, which may cause serious problems with the whole budget. Continue reading
We’ve all experienced a time, if not many times, when we pop to the shops to purchase a few goods only to return home with bundles of bags and a multitude of items we didn’t set out to buy. Perhaps the boss was a little extra grumpy that day or the kids were overtired. Maybe breakfast had been skipped or boredom had well and truly kicked in. Whatever the reason, overspending was the result and if it happens too often, finances can quickly dwindle.
Syble Solomon, executive coach and creator of Money Habitudes, has an acronym she believes people should always consider when out shopping: HALT.
Many people in the society usually spend their practical life making money and spending it. They do not even care about what are they going to do when the time of their retirement comes. These people usually end up having troubles in their later retirement life. So it is a wise decision for a person to plan his retirement at a proper time. Everyone should also keep this thing in mind that there is no age limit as to when one should start acting on his retirement plan. Continue reading
If asked, all of us would have a long list of to do list for our Government. But, does our government have that sort of funds to improve some important sections of our society without putting the ultimate burden on the downtrodden? Treasurer Joe Hockey has hinted otherwise and warned the people to be ready to bear the burden. Continue reading
Famous American economist, Dent, stated that the rise in the house price in Australia is a bubble and it is sure to collapse at the start of this year. He said that the current Australian house prices are unsustainable and would at least fall by 27% in the main cities like Sydney and Melbourne, in a couple of years. Continue reading
Saving more money is a common goal, but many people find it challenging to achieve their savings target. By setting realistic saving goals and developing good money habits, anyone can learn how to save more money.
Track what you spend
Most successful savings strategies starts with your being aware of all of your incomings and outgoings. A budget is the best way to monitor what you’re spending your money on. You can create a simple budget by downloading one of the many simple spreadsheets or word-processing templates from the Internet. Alternatively, there are apps designed to help you track your spending. Try to update and review your budget at least once every fortnight.
Ever wondered why the credit card bill is touching the sky when there is not a single expensive item purchased on the card? Melissa Leong in the Financial Post has the answer to the question. Continue reading
Loans can be excellent tools for achieving your purchase or investment goals more quickly. However, every loan comes with accumulated interest payable by the borrower. As such, the sooner the borrower repays a loan, the more they will save on the costs of the loan. You can pay off a loan faster if you save more, pay more often, and budget effectively. Here are some tips:
Lump sums and windfalls
Use any lump sums or windfalls to repay your loan. Instead of spending the proceeds from a lottery win, your tax return, or selling your car, use the extra money to pay off your loans and save on interest.
People are always told that they are not saving enough for their retirement. According to Yahoo Finance, however, people, sometimes, take up extra steps and start to over-save for their retirement, due to fear of penury. How do you find the exact goal to meet so that you would have a peaceful and financially stable retirement? Continue reading