Money Saving Tips

How Do I Manage Money in My 20s? Here’s How

Gone are the days when people had the pejorative to make mistakes during their 20s, fixed these mistakes in their 30s and continued to inch towards the white-picket-fence dream. We are in 2019. The economy hasn’t fully recovered from the aftermath of the recession and jobless growth is a pressing concern for the policymakers.

Every youngster must understand that making financial mistakes early in their life could cost them dearly in the future. While it may be difficult for them to refrain from mistakes as people don’t commit mistakes intentionally, it just happens, they should try their best to avoid them.

Mistakes related to money

As mentioned earlier, mistakes that involve money are regrettable, hence, it’s best to avoid them. To avoid such mistakes, one needs to manage money effectively. If he can do that during his 20s, he’d reap the benefits later in life.

How do I manage money in my 20s? It’s a question frequently asked, but seldom answered.

In this article, I’ll search for the answer. So, keep reading.

Managing money in 20s

The common wisdom that young people spend extravagantly is true to an extent. Pub crawl, parties, hooking up, going on dates are what people in their 20s mostly do. There’s little surprise that their wallets mostly stay empty. I am not saying all people in their 20s party all day, but a large number of them do and it prevents them from managing money more effectively.

A person in his 20s must spend most of his time hunting jobs. Unless you are a millionaire in your 20s, the only way you can make money is by working in an organization. There are other sides of Job hunting. It can escalate your odds of learning new things. In addition, it also gives you a fair insight of where you stand in the competition.

Acquiring new skills

Job hunting becomes easy when the candidate evidences professional skillset. Other things i.e. educational qualification, industry experience, etc being equal, the emphasis is put on how many skills the job candidate has mastered and on what level.

When a person dedicates their younger years acquiring new skills and mastering those skills, later in life they can use that as a capital in the professional arena. If someone spends his early or mid 20s learning skills that are deemed necessary by industry thought leaders, in his late 20s or early 30s, he can be comfortably be placed in an large enterprise as an indispensable asset.

Paying off credit debt

The previous tips are not directly related to money management, even though they make it easier to earn and manage money. But paying off the credit card bills on time is an an important tip for managing money and all 20-year olds should recognize its importance.

Do you know about the damage caused by unpaid credit debt? Most people in their 20s are blissfully ignorant of it. Credit debts are like a black dot on your credit record as they make it difficult for you to get loan. And one more thing; lenders normally don’t discriminate between unpaid bills and bills paid after the due date was over. They do, but they disappoint both types of card holders by refusing to lend them money.

On top of it, statistics indicates people who max out their cards are mostly in their 20s. If you are young, you are likely to run into credit card debt. Steer clear of all the debts and don’t let them stay on your report for long.

Build outstanding credit

If you are in your early or mid 20s, you have plenty of time ahead in life. Instead of asking how do I manage money, use this time to build excellent credit. Use your card diligently. Never max it out. Try spending more via cash. Limit your online transactions and never ever miss a bill paying date.

Oftentimes, we stay busy and forget the bill paying date. To make sure it never happens, you can automate the process. Set up reminder alert on your mobile phone or use custom software. There are software available for it, accessible via a subscription model.

Create a monthly budget

Its importance cannot be overstated, especially for people in their 20s. By creating a budget every month, they can manage their money more effectively. A budget, especially if it is developed with the help of right software, can not only show you how much you are spending every month but also figure the ways you can save money. The biggest benefit of creating monthly budget is that it becomes a habit. In your 30s, 40s and 50s, you can manage money even more effectively thanks to this habit.

Summing up

I guess you’ve gotten your answer by now. If you are curious to know how to manage money in your 20s, understand that it’s the result of a serious attitude, a knack for saving and not caving in to the lure of instant gratification. Follow the tips given here and manage money better in your 20s.

Money Saving Tips

7 Simple Ways To Save Money

What are the ways to save money?

Everyone would want to know the answer for the same. Saving money might seem like an arduous task when you’re already tight on your budget. However, one thing that is more difficult than saving money is getting started with it. Sometimes, it becomes the most challenging hunt to discover simple ways to save money and how to utilize your savings towards reaching your financial goals. So, the next thing to do is develop a realistic savings plan to work on your financial goals. We share with you 7 simple yet effective ways to save money and develop your realistic savings plan.

Let us understand how these 7 ways will help you to get started with saving money and have a financially secured future.

7 Simple ways to save money:

#1. Track down your expenses along with your income

The first and foremost step to take towards saving money is to know where your hard-earned money goes every month. Record every expense you make without neglecting even your coffee bills, newspaper cost etc. Every small cost adds up to a big amount and hence you need to account for every penny you spend. Once you’ve recorded your expenses, it’s time to organize it. Categorize it such as groceries, gas, rent etc. and total each amount to know how much you spend on each category. You can even use your credit or debit card statements to get the details.

#2. Create a budget plan and follow it

The next step which is an important step in the savings process is to create a monthly budget. By creating a budget, you will know where to spend and where to be wise. By identifying areas where you can minimize your expenses, you can maximize your savings. Always it is important to implement what you plan and sustain it throughout. Discipline is very important when you are making savings. There will always be a temptation to spend more when you are stressed or happy, it is always better to control your urge to spend more.

#3. List down your financial goals with a timeline to reach them

Once you know to minimize your expenses, it is time to plan your savings. The goals can be a short or a long one. Based on your need and desire you can set the financial goals. Short term goals may include buying your home, car etc., long terms goals include retirement savings, kid’s education etc.

When you plan your retirement savings consider IRA accounts and other options.

#4. Set priorities for your financial goals accordingly

The whole financial planning or ways to save money is not about setting financial goals but prioritizing them as per the need of the hour. Priorities change with time, so prioritize and sustain your long-term goals. If you want your kid to study at Harvard, it is important that you save the money needed for his education. Prioritizing the goals can be very useful to plan your savings plan.

#5. Plan on saving money based on your priorities

A study says at least 10-15 percent of the monthly expenditure should be towards savings. If your needs and aspiration are high that saving this amount is impossible, it is always important to identify the pain areas and start implementing strategies to curb those expenses.

#6. Look for options to save money

For short-term goals, you can look for the following options:

1. Fixed deposits

2. Savings Accounts

3. Short-term investment options.

Long-term goals, you can choose the following options:

1. Stocks

2. Invest and resale of properties

3. IRAs

It is always important to choose the right tool which can help you both in saving money as well as help in maximizing your profits. When your goals are reached, save the additional interest amount which you have got for your investment in another plan so that the habit of savings continues.

#7. Opt for automatic saving option and watch your savings grow

Every bank around the world has many options to save your money. You can directly transfer the money into deposits with the click of a button. It is always important to choose your options wisely and watch your savings grow. The pleasure you get when your savings grow is priceless.

Summing up:

Saving money will take both time and efforts. It depends on how focused you’re towards making it work for you. The first thing you need to do is to get started with saving money by following the 7 ways. Initially, you might not see a huge difference in your savings. So, don’t get disappointed. Instead, notice the change you made from being a ‘person with no savings’ to the ‘one with some money as savings.’

Money Saving Tips

Your Personal Finance Guide: 12 Simple Tips To Save Money

Looking for a way to upgrade your finances?

It’s possible for anyone to give a new turn to their financial journey by making the right move in the right direction. All you need to do is take the right step by following a few simple tips to save money. Sometimes, the hardest thing to do is take the first step towards your financial journey. We share with you 50 simple yet effective tips to save money and churn the wheel of your financial journey. Few tips would just take minutes to implement and few would take weeks. You can choose what you feel can be followed immediately and gradually increase the count. To get started, go through the list and follow the 12tips to save money. Create your own personal finance guide and add these12 tips to get started. Although, initially the difference would be small but with time you will be able to see a huge change in your financial journey. Remember perseverance is the key to success.

Let us understand the 12tips to save money and how it can help you in your overall financial journey.

12 simple tips to save money:

1. The shopping rule: make a list before you shop

Making a list of items to buy before you enter a supermarket will help in preventing impulsive buying. It will also help you in keeping track of things you buy and also help to look for alternatives.

2. Heard about the 30-day rule?

Always buy an item you desire after 30 days. When you do that, you will either not buy the item or the desire to buy that item would have subsided. This will help you in saving a lot of money and savings.

3. Sell that unwanted stuff.

Always sell the items which you don’t use it for more than a few months. It will help you by providing additional cash either to spend or save.

4. Switch to a different bank and earn more interest.

You don’t have to live with high interests for your loans when you make regular payments. There are banks which help you in transferring your existing loans with lesser interests. This will help you in saving valuable money lost in high interests.

5. Enjoy the benefits of all customer reward programs

Only buy what you can use. When you feel something is really important to buy look for various customer reward programs which provide good benefits for the items you buy. These programs will help you in making a buying plan for the future.

6. Enjoy a TV-free life.

Television has become essential in everybody’s life. By not watching TV you are not only saving your electricity bill but will also think of other ways of making money such as side business and other investment plans.

7. Become a gift maker.

Everybody loves to feel special. When you make an effort to create useful gifts for your friends, it will be appreciated and you will also save money on buying unnecessary gifts.

8. Host a “house party”.

Partying reduces your stress. Party should never become a reason for your stress. The amount you spend in a party can take a toll both on your food budget as well as on the savings. Instead, host a house party and prepare all the things if possible, this will help you saving money for useful expenditures

9. Clothes stitched can be handy.

This is one of the useful tips to save money. Don’t throw your pant just for a small hole, or a shirt for a lost button; instead, stitch the button and patch the hole so that you reuse it during your crunchy times.

10. No big budget entertainments.

Making entertainment plans for the kids is always important. But that plan should not take a chunk of your life savings. Find creative to entertain the kids, use items which will kindle their creativity and not their pockets.

11. Game what you can master.

Being video game savvy is good. Only buy games which you can master and which has a high resale value. Always buy another game when the first game is completely conquered.

12. Quench your thirst.

Drinking water is always good for health. But drinking a glass of water before every meal will not only help you to stay full for a longer period of time but will also help in consuming less food. This will help you in saving a precious amount of money in your food budget and also in maximizing your life savings.

Summing up:

The above tips will help you in saving precious money which can be used on your lifetime savings. This money saved can be used for making investments which will help in increasing your standard of living.

Budgeting Habit

10 Ways to Stay Healthy On a Budget

Budgeting is something almost everyone hates doing, but people who know the importance of budgeting or have been saved by it knows how crucial it is.

Time teaches us that doing something spontaneous should be limited to limited things otherwise plan, plan until you achieve what you desire. I have known people who keep their finances spontaneous and regret afterward. But I have never come across anyone who has a proper budget plan; they followed it and ended up regretting.

Stay Healthy On a Budget

For some people budgeting is easy, but for others, it is somewhat of a ghost that only haunts them. For the later ones, some professionals can manage to set a budget plan. But if you ask me always plan it yourself, this way you would not only keep your financial matters to yourself but you can also be fully aware of the situation you are in.

Being on a budget may seem to scare you which is normal but to spent more than you should and left out with nothing is worse than you think. I remember the days when I was a reckless spender. I did nothing in a way it was supposed to happen. I did everything in the opposite direction and ended up regretting.  A friend of mine recommended me to budget my finance, and from that day on I cannot imagine my life without a plan. Being spontaneous is nice, but it does not last for long, but planning can take you to the high road I bet!

By following these following ways, you can stay healthy on a budget.


While going for shopping, not all of us is listing down things that they want. This world has changed its dynamics. We often curse ourselves so much that how come we bought something we were not going to buy at all. But the product placement strategies in the superstores are done in a way that you end up buying what is unnecessary for you.

Whether out for groceries or other things; prepare a list and stick to it. This may prevent you and your family to hold your eyes to the things you were there to purchase.


We all know the trouble you have gone through while preparing a budget and sticking to it (I personally find sticking to the budget harder than developing it) but then you check out your weekly expenses, and you are shocked to your very core. Why? I simple reason, you did not let your family be fully aware of what is it that you people as a family are up to.

When your family just know that they are on a budget, they may or may not listen to you, or they may go rebellious. But once the whole story is in front of them they may understand your point and can wait for the perks ahead.

Also, it is a good reason for you to act like a boss and call for a family meeting every now and then to irritate them for fun.


Take maximum advantage of technology. Using an app can be more of a use than checking your weekly progress on paper. With an app you can see what you have done so far on a daily basis; you just need to keep it updated.

My favorite is Mint; it records your day to day data and evaluates it too. May it is your budget, bills or credit score, they have got you all covered.


Most of the times we overspend because we tend to deprive ourselves a lot of the things we want. For saving yourself for some reckless shopping or eating, allow yourself an allowance that would let you buy something to treat yourself. After all, why do we earn at all, know the balance between spending and saving and you are good to go.

Just make sure to use that allowance at the end of the month, that way you can be motivated to stay on the schedule all month long.


If you keep seeing cash lying on your kitchen counter or your dresser, you are going to use it eventually. That money is important too. Imagine, you put five bucks on your dresser daily and use it unnecessarily the next day just because it is right there. Now imagine that you kept that amount in a piggy bank and when you check that amount at the end of the month it is no less than $150. It may seem small but isn’t it better than 0 money. If you continue it with this pace, you may end up with a right amount for your next investment. Or if a friend of yours is in need you can lend that amount to them too because a friend in need is a friend indeed! Click here to see the link to the review for best peer to peer lending site.


I know eating out is fun and a takeaway or delivered food can do wonders for your heart (temporarily) but ask yourself if that be the same effect on your health? Certainly not! Eating out can expose you to many problems like diabetics, cardiovascular, obesity and more. And what can it do to your budget is just cruel. You can directly save up to 50 percent of your amount if you start preparing your meals at home and the indirect cost of extra gyming or hospital bills can be saved too.

Even plan your meals for the coming weeks. It will help you attain two things. One, if you are planning your meals ahead, you can schedule healthier food and keep it all in balance for a balanced diet. Second, you can also keep the cost in your notice. If you are not on a budget and decides what to eat and what not on a daily basis, chances are you will only order or prepare food that you are craving at that moment. And I do not think that we people crave for health food.


We often pay less interest in maintaining what is in our lives and end up having something new. We totally neglect the fact that doing so costs us more than we think. We diminish the previous commodity and go for a new one.

Updating the scratched paint or repairing a tablecloth would be a project for you and your family; you can always be creative will things like this. It will give you some family bonding time that you would cherish forever.


Bad habits may cost us more than we think. People who smoke or drink a lot are exposed to diseases. But they may also end up with no money in hand as these things cost so much fortune. And people who are habitual gamblers may end up bankrupt if not in jail.

Try to quit your bad habits at least until you know you can afford it quite easily with no regrets.


Discounts are everything I look out for when I am out for shopping. Your shop is offering a discount, and I have not checked in, is not possible. I am someone who prepares a list of things I would possibly want in the next two to three months, and once I see a sale regarding that thing, I pop in to look for it.

Sales are the common tactic for these merchants to increase their profit but all we want is the discount we get no matter how or no matter what. I think all the shopaholics can relate to me here.


People are different, and they act differently. Some people are so good at saving that they actually save everything and spend nothing on themselves. Some people are so bad at savings that they spend everything and do not secure their future. And there come people with a balance who knows when to pay and knows when to save.

I have been clear about how to spend properly so far, but how to be someone who can save too? It is effortless to tell to calculate your net income, determine your necessary expenses and then the amount you spend on luxuries, cut them off a little and you have some money to spare.

Saving money is very important because you do not know what I up next with you. Just make sure craving a pizza in the middle of the night does not count as an emergency for you.

Money Saving Tips

Amazing Cheap Christmas Gift Ideas for Your Kids

Christmas, one of the biggest winter festivals is knocking at our doors. So, now is the time when all the parents are finding it hard to surprise their little ones with some amazing Christmas presents, within their budgets.

Most of the Americans are prone to spend more or less $1000 in getting different gifts to please their dear ones on Christmas. Without getting indulged in any further argument, one can easily see that this excessive amount of spending might lead you towards a troublesome condition in near future.

So, here is an easy guide for you to follow, which will make your Christmas budget friendly and fun to your kids.

Cheap Christmas Gift Ideas

Go through these following ideas to pick some mind thrifty gift items within your budget to see that beautiful smile on your kid’s face.

Bedtime Story Books

The number of kids who don’t like story books is quite low. In fact, it would be difficult for you to locate even a single child, who does not prefer to hear stories at bedtime. Thus, if you are thinking about buying a Disney Princess book for your lovely daughter as a Christmas present, you are on the right track. You can also look out for some other story books too, if your little ones are not into princess stories.

Pretty Little Dolls

When it comes to pick a wonderful Christmas gift, it is bound that your eyes will definitely try to find some pretty little dolls for the real sweetheart of your house. The list will seem empty without any character of the famous animated movie Frozen. So, think about making her happy by giving a Frozen Sparkle Princess to your dear daughter. Thus, you can easily make your precious one smile with joy by giving her a unique Christmas gift, that too at a reasonable price. But, you need to be aware about the small parts of the doll as they can easily get lost.

Musical Instrument

Music is that divine thing, which has the capacity of attracting everyone, even the little ones of your household. So, you can also think about giving them their desired musical instruments to let their talent flourish. The little piano, the colorful wooden xylophone can also be an option for you. Let the musical journey of your little one be started by encouraging him or her to play the musical instrument more enthusiastically.

Shape Sorter

Christmas is that special occasion of the year, which provides you with an innumerable opportunity to be with your dear ones for making the holidays meaningful. Exchanging Christmas presents is another custom followed by a lot of people that reflecting our love. Education is the best possible gift, which a parent can give to their children. Along with helping them in sharpening their skills, you can also make them utilize their thinking power by gifting them a Shape Shorter. The product made with 100% recyclable plastic will also make your kid stay on the safer side. In spite of providing knowledge about different shapes of the universe, this amazing gift will also entertain the creative minds of the kids at the same time.

Radio Control Cars

This is that time of the year when you can feel that urge to make your close ones happy by providing them with some amazing gift items. So, if you are a parent and willing to make your kid smile with joy on this Christmas, think about providing him with a cool radioactive car. A radioactive car, comes with other attachments will definitely mesmerize your kid, that to without upsetting your budget.

Fashion Accessories

Another cool gift for your baby girl might be some trendy fashion accessories, which will make them look cuter. Pretty little hair bands or clips might make them look absolutely gorgeous. Any girl, who would like to dress themselves up according to the modern trends, will definitely appreciate the choice of your gift. The number of different colorful accessories will make your little one look more beautiful. Within your limited budget, you would be able to find a unique Christmas gift for your dear little princess.

In order to stick with your monthly budget, you need to control your habit of expenditure on unnecessary items on this Christmas. It is true that, Christmas is a special occasion, which brings a lot of happiness in your life. But, spending too much money in buying gifts for your kids can never be a good idea.

Check out all the online shopping portals for availing the best deals. With the help of the above mentioned shopping guide, it would be easier for you to choose that particular gift item for your kids, which will make them smile with delight.

Money Saving Tips

A Sure Way to Make Every Single Penny of Your Savings Count

Let me guess…

You are also one of those people who go through the pain of carefully budgeting all their finances at the beginning of the month. But, half way through the month, things take a negative turn and you are stuck asking yourself how you got here.

Frankly speaking, money has a way of mysteriously disappearing. Almost everyone who works has had this feeling at one point or the other. It’s not like there are holes in our pocket so where all the case could be going?

Budgeting is a way of life and a smart one at that. Way better than living things to chance. It doesn’t matter whether you are a multi-billionaire or salary worker. It always helps to keep your daily, weekly and monthly expenditures in check.

money saving ideas

And given the right measures, you can really prioritize and spend money on the things that matter the most. Though it might be tempting to splurge on that eye-popping leather jacket you can’t help but eye every day on your way home. The financial backlash might be too much to bear in the long run. However, given proper planning of your budget, you can save enough to buy just about anything you want.

It’s really just a matter of time.

After making bill payments and other necessary expenses you might be left with some amount of money. The question is what do you do with all that cash then? After all, you earned it. Most people spend it differently depending on their nature and taste.

In other to achieve the most of your paycheck and do more with the little you have, nothing can be left to chance. This is the point Zero-based budget comes into play.

As tradition will have it, most budgets include two basic columns. One is the income column and the other the expenditure column. Assuming for a minute you had $10 000 as your income and your expenditure for the month is $75 000. Then you are left with $25 000 without any obligations. Money you can blow. And most people blow.

Wrong move

Using the Zero-based budget, you follow through the saving processes of the traditional budget but just your left over got to be zero. Not $100, $50 but $0. Every penny down to the very last one will be accounted for. End of the budget.

I bet you wondering where the $25 000went, right?

That’s what to the Zero-based budget all is about. Using this budget type you are able to account for things you formally live to chance. Expenses like the gas refill and the latte you just can’t seem to do without. These all need to be accounted for. Then you allocate a huge chunk of the remaining cash as savings.

I know it sounds scary

But let’s not dwell on that. Rather let’s consider the benefits we will derive from this new and improved means of budgeting. For instance, what do you do when you get a flat tire and all that left over cash has been spent to the last dollar?  When you run out of groceries?  Or when that craving for a Subway just won’t go away. What do you do then?

Now I hope you beginning to see why you have to account for everything.

During the process of building your Zero-based budget, all normal and obligatory expenses have to be listed first. Car insurance, rent, transport fairs, etc. – all these form part of the fixed payment since they come due approximately at the same time every month.

Next, comes the list of long-term items such as annual vehicle inspections, medical checkups or property taxes. Maybe you are planning any big purchases, e.g. a new car. This can also be added to this list and the total costs broken into twelve equal portions.

But you just not there yet.

Now can an equally important section; miscellaneous money. So you allocate a fair amount for expenses you will make on movies, gas, coffee and what have you. I mean, you can even create your own category just in case there is something that can’t fit into any of the above-listed categories.

Finally, an emergency fund is added. This pop up unexpended and the wise person is prepared for anything. Occurrences like repairs, and flat tires will fall under till category.

It’s undeniable, small expenses like fast-food runs, $4 here $5 and before you even know it, you’ve eaten through $500 with really nothing to show for it.

I used to experience it all the time. Until I was taught the Zero-based budget. And it has totally transformed the way I handle my personal finance. Hope it will do you as much good as it did me. Please do ask any questions you may have in the comments section below.

Enjoys writing about the post-industrial revolution, personal finance and changes such as how job postings for employers can facilitate the much-needed change in today’s world.

Money Saving Tips

Save Your Marriage with These Essential Finance Tips for Couples

Marriage is probably a frightening deal, to say the least! And when it comes to money, most couples end up untying that promising knot over a couple of financial issues. While the financial instability between couples if quite understandable, just rambling on the money matters is not enough.

To actually save your love life from going downhill with time, chuck the romantic talks for a moment and shift your focus to what’s more important to your spouse and you – financial management. You are a couple and there probably lies either a very harmonious or troublesome times ahead of your both. Becoming aware of the basic finance tips for couples is just a starter, while the entire main course actually depends on the chemistry that you have with your partner in managing your financial matters effortlessly. And without a doubt, that’s one of the toughest things to do after marriage!

Finance Tips for Couples

So before you end up talking about children and insurances, it isadvisable to open up on the most driving force in marriages – finances. Financial management between couples can either help strengthen their bond over the years or build a gap in between two partners.

To carry on with going down the romantic line, here are some things to keep in mind while you’re sitting at the dinner table discussing finances with your spouse. And also, stay careful while you’re at it.

Talk the talk

Don’t take your spouse by a surprise with a sudden and typical couple financial discussion. Find a neutral time that fits just right for you both, and when you both are not really facing any current money issues. It is the ideal time to avoid any further arguments and clearly, plan out your financial plans as a couple. The goal is to have a calm and relaxed financial discussion with your partner first and get acquainted their monetary habits to gain a better understanding and insight into your financial stakes as a couple.

Avoid the blame game

Support is the key to any strong marriage, and that is also the card that you need to play while managing your finances. No finger-pointing! No blaming each other! And no argumentative denials or justification for any financial setbacks whatsoever. In a long-term relationship, both you and your partner have to meet in the middle and avoid the blame game that just ruins relationships. And blaming will not help you balance out your balance sheet either. Stay cautious about being more supportive and understanding instead of turning the tables around at each other.

Believe in equality

Neither you nor your spouse should ideally have an upper hand at anything. None of you both may be capable enough to fairly decide and judge the monetary habits of another. So the golden rule? Consider yourselves equal. Your working hours and heavy paycheck hardly determine anything when it comes to a sound financial management with your partner. Have an equal say in money management because regardless of the big fat or small slim paycheck, you need to respect the equality of each other as partners.

Avoiding the key mistakes

There are chances of you experiencing a wrong financial approachfrom your partner. Or even for you, it is important that you avoid-

  • Rushing with things. There should always be some level ofautonomy, even when it comes to couple finances.
  • Assuming that clearing your partner’s debt is solely the responsibility and duty of your partner. Team efforts work wonders!
  • Thinking that your partner is the only spender in the family. Yes, both of you spend different amounts of different things, remember this!
  • Keeping money secrets from your partner. Transparency helps a lot, more than you’d expect!
  • Thinking that both are completely safe. No, you’re not. Start prior planning for financial emergencies

Assets are binding

As a couple, it is very natural for your partner and you to jointly own assets. However, it is not just assets that need to go in the back. Discussing other financial needs of amarried couple such as mortgage and retirement need to be clearly discussed and planned out. In layman terms, you both need to be hand in hand when it comes to any financial aspirations or financial investments that you would want to make. Also, both your long-term financial goals must not really have a huge difference. Instead, a transparent discussion will help both of you come to a conclusion that has clarity and that can help you’ll manage long-term finances without much effort.

But do not rush!

Rushing is a bad, bad mistake in practically anything. And it is comparatively more dangerous when it comes to money management between couples. You don’t need to straightaway start combining your finances with your partner’s without a question asked. And neither do you have to official be involved with your partner’s past financial debts. You can always keep chipping and helping each other, but avoid rushing with your decisions and take up a responsibility that you’re clearly not up or ready for.

On a Final Note

Yes, your partner and you can take your little baby steps toward a sound financial management technique and keep your money in place. Financing money is easier if you bestow some trust and transparency in your relationship while having faith and not panicking at the same time. Rest assured that a stable financial system will only make your marriage stronger and healthier with time.

Money Saving Tips

30 Unique Money Saving Tips – Try it now!!

Worrying about money can be stressful. If you regularly find yourself spending more than you earn then it’s probably time to reassess your outgoings and think of some ways to cut back. Looking for some easy and unusual ways to save money?

personal finance tips

Here are 30 unique money saving tips to help you cut your costs of living and put some money to one side:

1. Say No to Your Car!

Walk and bike wherever possible: not only are walking and cycling both excellent forms of exercise, there are no real costs involved. You won’t have to pay for gasoline or any motoring maintenance charges, and you might even find you enjoy it so much you could get rid of your car completely!

2. Car Pool

Not practical to live life without your car? Then why not car pool instead! The average American commuter spends in excess of $1,000 on gas every year just by driving to and from the office. If you carpool with just one client, you can cut this bill in half: find two colleagues to carpool with and your annual gas costs could drop by a third.

3. Lights Out!

When you leave a room, remember to turn out the lights. This simple tip will have almost no impact on your life, but will have a significant impact on your energy bill!

4. Unplug Your TV

When you’re not using your TV and any other electrical appliance, be sure to turn it off at the mains switch. Leaving these items in standby mode will drain your power, increasing your electricity bill unnecessarily every month.

5. Cancel Your Cable

On the subject of turning away from the TV, did you know that if you cancel your cable subscription, you could save up to $500 per year?

6. Switch Your Insurance Provider

If you haven’t switched your insurance providers recently then it is highly likely that you can save money on your car insurance, home insurance, and travel insurance. Switching is surprisingly easy and won’t take as long as you might think: Check around for the best prices, make a few phone calls, and let your new insurance company do the rest!

7. Choose to Quit

If you’re a smoker then use the money you’ll save as your motivation to quit. Smoking is an expensive habit: the average smoker spends around $2,000 a year on cigarettes; money you could put to better use.

8. Cut Down Your Alcohol Intake

On the subject of bad habits, cutting down how much alcohol you consume (particularly at retail prices in pubs and bars) will help you to make significant savings.

9.Find a Happy Hour

Not prepared to give up cocktails with your friends? Find a happy hour where drink specials are available instead.

10. Work Out Online

Give up your monthly gym membership and instead find an online aerobics or yoga program to follow. This will give you all of the health benefits without any of the expense, and you can exercise from the comfort of your own home!

11. Pile on The Blankets

Feeling the cold? Don’t turn up your thermostat – instead reach for a cozy blanket and snuggle on the sofa. This will save you money whilst still keeping you warm.

12. Buy Energy Efficient Lightbulbs

Although they may be more expensive than regular lightbulbs in the hardware store, energy efficient lightbulbs are so effective that they will save you money in the long run.

13. Make Your Own Greeting Cards

Birthdays, weddings, Hanukah, Christmas, the celebrations never end! Store bought cards can be expensive, so instead start making your own greetings cards using card stock and imagination instead. As an added bonus, homemade cards are thoughtful and usually much more well-received!

14. Make Your Own Gifts

Gifting can also be pricey. If you have any special skills (such as baking or painting) then why not utilise these to make thoughtful handmade gifts instead?

15. Get a Library Card

Love to read? You don’t ever need to spend money on your hobby again! Get a library card and read whatever you want, whenever you want!

16. Check The Labels

When shopping for clothes, always check the care labels. Avoid anything that needs to be dry cleaned or any other kind of special care. These can be pricey to maintain and will add to your monthly cleaning budget.

17. Shop Your Closet

Before you hit the shops, sort through your closet. Most of us have pieces tucked away at the back that we have never worn: try everything on, and shop your existing pieces for an outfit that you can breathe new life into.

18. Cut Your Own Hair

Cutting your own hair isn’t complicated, but learning how will save you a fortune in pricey hair cuts. This is doubly true if you have children: their hair grows so fast that cutting it yourself will save you a lot of money in the salon each month.

19. Or Get it Cut For Free

If you don’t like the idea of cutting your own hair then instead search online for your beauty school; they are often looking for models and will cut your hair for either a donation or for free.

20. Washing in Cold Water

The most costly part of cleaning your clothes is turning up the temperature on your washing machine. If your clothes are only lightly soiled then wash them in cold water and reap the savings instead!

21. Leave Your Wallet at Home

Heading out for a run or a walk? Leave your wallet at home! If you don’t have any cash with you then you won’t be tempted to stop and spend it on a coffee, or another reward, on your way home.

22. Make The Most of Reward Cards

Sign up for reward cards for all your favourite cards, and make the most of them: keep track of when they are offering double points, for example. Saving points on your rewards card can ultimately save you money on the everyday things you need (and the occasional treat that you don’t!)

23. Save Your Black Bananas

Bananas looking black, bruised, and sorry for themselves? Don’t throw them away! Save money by turning them into delicious banana bread or freezing them to use up when you need them in fruit smoothies.

24. Pack Your Lunch

Taking lunch with you will save you a fortune! Whether you’re going to the office, heading out for a trip to the zoo, or spending time on the beach, taking lunch with you from home will save you a small fortune on convenience food when you’re out and about.

25. Shop With a Friend

Like the sound of that buy one get one free offer but don’t need double the product? Instead shop with a friend and get the amount you actually need for half the price.

26. Shop the Sales

Do you need to buy something new? Perhaps your toaster has broken or you’re looking for new shoes. Whatever you’re looking for, wait for the sales to begin before you start shopping. Savvy money savers never buy anything full price!

27. Grow Your Own!

Do you like to eat plenty of veggies, fruit and salad? Why not try to grow your own! Not only will it save you money, it will also taste better, and there is nothing more satisfying than eating something you have grown yourself.

28. Buy in Bulk

When shopping for non-perishable products (such as deodorant or washing powder) why not check if you will get a better deal for buying in bulk? Unit prices are often cheaper, and you can simply store the excess until you need it.

29. Drink More Water

Not only is soda bad for you, it’s also expensive! Say no to pricey sodas and juices and drink more water instead. Your skin will be as happy as your bank balance.

30. Cook in Bulk

Finally, when you’re cooking double the values of your recipe to make a larger batch that you can portion and freeze. Not only will this save you food prep time, it will also save you money on buying smaller quantities of ingredients and the energy costs involved in running your oven.

Money Saving Tips

Budgeting and Money Saving Tips

We are always on the lookout of ways to save money. The smile and sense of accomplishment we get when we save money is priceless.

Many of us start to aim higher when we have some savings in our banks. New home, car, home appliances are planned only when we have savings in our accounts.

SO, how to save money….

There is a famous story – a great businessman lost everything he had when he made losses. He went bankrupt and didn’t even have money for his next meal. Tired and exhausted, he was sitting in a park. A man came and sat next to him in the bench. He looked at the businessman and asked, “What is troubling you my son?”  Businessman narrated his entire story to the old man. In the end, the old man smiled and wrote a cheque worth $50,000 and gave it to the businessman.

With rejuvenated energy and feeling of financial security, he took strategic decisions which made his business grew multifold. The businessman wanted to return the money to the old man, so he visited the park where he first found the old man. The septuagenarian was at the same place as before. When the businessman was about to return the cheque to the old man, staff from a mental asylum showed up and zapped the old man. They were taking him to the asylum. The businessman learned the old man was a mad who absconded from the asylum, and the cheque he wrote was phony.

The moral of the story is savings can usher in a sense of financial security, thereby helping one progress in life. There are many ways to save money, a few has been stated in the blog.

Tip #1: Create a Savings Account.

This is a tip which I personally followed. When I had to save money for my marriage, I created a savings account apart from my checking account. Internet banking offered me the option of automatic money transfer from my checking account to the savings account. I set the savings amount to be transferred and the date of transfer. On the preset date, the money automatically got transferred. This is how I saved without much hassle.

This savings gave me strength and intent to plan beautiful things for my wife such as honeymoon, new home and other amenities required after marriage. I personally suggest this as one of the best measures in saving money without budgeting.

Tip #2: 50/20/30 Saving Plan

Every person will have 3 kinds of expenses, the first one is his monthly bills such as water, electricity etc. Number two being is his savings such as fixed deposits, recurring deposits and number three is his lifestyle expenses like clothing, entertainment.

Understanding these three types of expenses is essential to have a healthy financial life. Each is distinct and essential in its own way. Senator Elizabeth Warren, along with her daughter Amelia Warren-Tyagi, introduced the 50/20/30 budgeting rule in the book “All Your Worth”.

In the book, they stated that 50% of your income will be spent on the essentials such as rent, electricity and other monthly bills. 20% should be spent on savings such retirement savings, down payment for your home. The remaining 30% can be spent on lifestyle expenses. When the lifestyle expenses are properly planned, there can be further savings.

This tip is continuation of the previous tip. Once you have mapped out your expenses, you can have target accounts for each expense, a savings account to maintain your savings, a checking account for your lifestyle expenses. Prefer using debit cards and don’t use your credit cards for any of your lifestyle expenses. This will help you to keep a tab on the money flow and will help in identify areas where you can avoid the expenses.

Tip # 3 Use Technology

In this technology savvy world, everything is available in our smart devices. Savings plan can be made using our smart phones. Gone are the days, when we used to maintain an excel spreadsheet to monitor our expenses. Now our jobs are made easy by various savings app. There are numerous free and paid budgeting and savings apps.

Digit is such an app that automates your savings. It is connected to your bank account and often analyses your spending pattern. Then it takes small amounts of unspent money every week and transfers it to your savings account. You are informed about the saved amount via text message. All the transactions are done through text messaging, for example, when a transaction is to be made, an SMS sent to digit eases the process. This app saves a lot of money and time.

Qapital is another app that helps you save money by using rules or more specifically “If then” formula. When one of the rules or goals you’ve set is triggered, the money is saved. There are penalties for not completing the target and the money can be taken away from your set expenses. It instils fresh energy and fun on saving money.

Summing Up

Saving money can be easy when we choose the right ways. Investments are also one of the options you can look for to grow your money. Savings will help in having a secure future while you enjoy your present. We have spoken at length about the various ways of saving money.

Money Saving Tips

How to Save Money on Your Home Improvement

Owning a home and maintaining one call for spending a chunk of the amount from your salary and you might the pinch when you have to spend it on maintenance. One might even take up homeownership assistance program to efficiently spend money on home improvements.

If you are looking to make improvements to your home there are ways you can get cost effective home improvement services where you have to spend little and contribute your skills as well.

Save Money on Your Home Improvement

What can you do Indoors?

From saving electricity to fixing appliances yourself there are ways to reduce the expenditure of money or fix things in a cost effective manner. So here are the improvements you can make to your homes with the following ideas.

Bring in a homeownership advisor

Getting your home checked by experts is one way of improving things at home. An advisor will inspect your home give necessary suggestion on what you have to fix, change or buy. In a house, there is something or the other that would need fixing so pay attention to it and maybe do it yourself if it is an easy task.

Using alternative appliances –

The use of appliances is a lot in any person’s home and if you can substitute an appliance with the one which doesn’t cost you a huge bill does it. Take air conditioners, for example, it requires constant cleaning and changing of filters if you are in a place where the heat is bearable use a ceiling fan which costs way less and you don’t have to do heavy maintenance.

Put in cost saving fixtures –

In these global warming times where we see droughts everyone is thinking and making an effort to save and use much less water as possible. So upgrade your home with these low fixtures like in bathrooms such as toilet flushes, which consume less water and does the job and also smart shower heads which detect when you do not need much water.

Replace machinery –

If you are living in your homes from a long time and have very old machinery switch it to the news ones. The new machinery these days has technology that saves energy and electricity. These makeup for a cost effective way of doing things which will benefit you and you do not have to spend as much.

Fix broken doors and windows –

When you see a broken window or door and a leaking tap fix it. These easy fixes can be made with the help of objects that are very cheap instead of replacing the whole door, window or tap. This can be done even if you have very little knowledge thanks to the internet.

Create space –

If you want space to make space, do it by moving things around and removing things you don’t require. Instead of expanding your home by breaking the walls rearrange furniture and bring in new furniture to put things that are lying here and there. It will not only create space but also add a new look to your home and will look organized with additional furniture.

Cover up damaged walls –

Houses often are not built with all the correct material or high standard materials and causes leakage or cracks. Cover these up with wall hangings or an artifact these not only cover up the mess but add to the décor of your home with a simple touch of art.

What can you do outdoors? 

Now that you know what improvements can be done indoors let us explore what outdoor changes can bring in improvements.

Drying clothes on a rack outside –

Forget to buy a laundry machine which dries your clothes not only does it consume so much electricity it also is an added expense. Instead of such machines put up a drying rack out in your backyard, it dries your clothes natural in the heat and you will be able to use them the next day. This improvement won’t take much just a string and pegs to hang your clothes.

Put up rainwater harvesting system –

Water is becoming dearer each and every day and if you are in a place where you receive rainfall every year make sure you have rainwater harvesting system in place. Putting this system in place you can use the rainwater for watering your plants, washing vessels and even having a bath. It cuts down your water usage and also makes your contribution to the environment.

Plant a plant –

Planting a tree outside your home can bring your house the shade it needs. The sun’s rays and the water’s harsh substances can damage your house walls prevent this from happening by planting a tree and its shade will shelter your home.

Few Tips More Tips

Every improvement big or small can be done by you, by contributing your skills and here are some things you can do.

  • Install a mesh in the shower and laundry drain to catch your hair and prevent from blocking the drain.
  • Turn off the switch plugs if they are not in use.
  • Change to less energy consuming lights like LED.
  • Time your shower so that you don’t take long baths.

Summing it up

There are so many improvements that can be made in one’s home and having home ownership and wealth you wouldn’t know where to start but you must make changes from time to time to make changes and be up to date with these changing times.