Making Sure Your Personal Finances Work For You

Atlanta Georgia

There are times when you might wonder if you are in control of your money. One of the most important responsibilities in your life is being in charge of your own money. Read the following tips to get a better understanding of setting financial goals, making your money stretch farther, and getting your financial house in order.

Most products come with either 90-day or one-year limited warranties, and if a failure is likely to occur, it will probably do so within that time. Because they rarely have to pay them off, extended warranties are a safe bet for vendors, but for consumers, they are almost always a waste of time.

Having patience can be a good money-saver when it comes to shopping. Many people buy just-released electronic devices without thinking about the cost. You will see prices drop significantly if you wait for the novelty to wear off. It goes without saying that the extra money saved on these purchases can be more wisely applied elsewhere.

Most electronics that have defects will show them within the manufacturer's warranty for the product. Extended warranties can end up costing you more money in the long run.

Look at the fees before you invest your money. Brokers that invest your money long term will charge money for the service. These fees can really take a chunk out of the money you make. Most of your investment funds should go toward your actual investment, not high commissions or management fees.

Swap out your old incandescent light bulbs with the highly-efficient new compact florescent lamps. Not only will you be lowering your electric bill as a result, but you will also be doing something good for the environment. CFL bulbs last a lot longer than old-style, traditional light bulbs. Despite the higher initial price, they pay for themselves, since you needn't purchase new bulbs often.

Many spend significant sums on a weekly basis thinking they will win the lottery, but it makes more sense to put that amount into savings instead. That way, you'll increase income over time instead of throwing money down the drain.

The rules for an under-21 year old getting a credit card have changed recently. In the past, it was easy for college students to get credit cards. Now, you must have provable income or have a cosigner. Always research card requirements before you sign up.

If you don't already have one, consider setting up a flexible spending account. An FSA can mean serious savings if you wind up with medical bills or need to pay daycare. With a flex spending account, you set aside a certain amount of pretax money, which you can use to pay for needed expenses. Get a tax expert's advice before setting up a flexible spending account, though, so that you understand the limitations applied to the account.



You should be less stressed about your finances now that your understanding about them has improved. Use these tips to better your finances, and keep learning all you can about managing finances. Turning over a new financial leaf could be the start of a savings account and a new, debt-free life! Your future possibilities are endless.

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