The Best Guide On How To Be Financially Independent
They say money cannot buy happiness but it certainly can buy peace of mind. It certainly helps us to sleep better at night and greatly reduces the amount of stress felt in our daily lives. Many people do not have their personal finances in order, and this is a leading cause of unhappiness. Essentially, money does buy happiness so read on to learn how to get your personal finances in better shape!
If you feel like the marketplace is unstable, the best thing to do is to say out of it. Taking a risk with the money you worked so hard for in this economy is unnecessary. Wait until you feel like the market is more stable, and you won’t be risking everything you have.
Scheduling a long car journey for the right time of year can save the traveler a lot of time and money. In general, the height of summer is the busiest time on the roads. If the distance driver can make his or her trip during other seasons, he or she will encounter less traffic and lower gas prices.
Even though bottled water may seem like an insignificant expense when you purchase it individually, it will add up over time. Instead of purchasing bottled water every single day, invest in a water filter. This will allow you to create water that has the same taste as bottled, at little to no cost.
If you have your debt spread into many different places, it may be helpful to ask a bank for a consolidation loan which pays off all of your smaller debts and acts as one big loan with one monthly payment. Do make sure to do the math and determine whether this really will save you money, though, and always shop around.
Never co-sign a friend’s loan. Co-signing makes a threesome ““ the creditor, your friend and you ““ that too often ends badly, possibly affecting your own credit. Don’t do it unless you are willing to pay the loan yourself. Because you are equally responsible, you’ll be hounded to make good if your friend defaults.
Pack your lunch. Most people spend the most money in their day during lunchtime. This is because most people get up and don’t make time to prepare lunch before work. That means they have to pay out of pocket for lunch unless they wait for dinner. Making a quick lunch will save that money.
Make sure you keep track of what you are spending. This will allow you to see exactly what you are spending your money on, and you will be able to see places where you can easily save some money. For example, instead of buying a $5.00 coffee, you can just make coffee and buy a travel mug.
Hopefully, this article has taught you a few things about personal finances that will help you to better manage them and in turn, your life. Getting in good financial shape may take time, effort and require you to make a few major changes, but in the long run, having manageable personal finances will lead to more peace of mind and much less stress. Both of those factors will greatly contribute to your improved happiness!