DAILY FINANCE TIPS: Tips 1

Daily finance tips category

With 2008 in middle of the way it is the time to start thinking about improving our finances, so that we can look at completing this year on a more positive financial note. Below are some of the top ways in which you can improve your finances for 2008. Here are some of daily finance tips which are practical and easy to execute in our daily life. Some of the daily finance tips are just a step away, you just overlook it!

1. Streamline your outgoings: It is amazing just how much money we all waste each year, often without even realizing. If you go through your regular outgoings with a fine tooth comb you could well come across things such as unused subscriptions and useless memberships for services that you no longer really use, and you can cancel these and put the money to better use. Look for a credit card that offers a waive in its annual fee. If it is necessary to keep a card by taking into account of its efficient service, then it is best to just keep ONE. By applying this daily finance tips, you will now need to pay just one annual fee. But if you are lucky enough, there is also a bank that waives an annual fee for life.

2. Cut back on non-necessities: Of course, we all love to splash out from time to time, but many of us tend to live an extravagant lifestyle on too much branded items. Go through your monthly outgoings and try and make cutbacks wherever possible on non-necessities such as going out and spending on clothes. By spending a few extra nights in – perhaps cooking dinner at home for the family or friends instead of going out for meals – and avoiding the temptation of too much retail therapy you could save a small fortune. By having one of this daily finance tips, I don't think readers will loose your friends or family excitement as the cut back involves only a few nights, not ALL nights!

3. Take advantage of the sales: Although this may seem as though it is contradicting the above, you can be really thrifty by taking advantage of the sales. Watch out for them, as many shops have sales at different times of the year, and not just middle or end of the year. Save your money earlier on and watch that sales coming. This doesn't mean you should go out and spend on anything that looks like the price has been knocked down even if you don’t really want or need it. However, try and determine whether you will need things such as clothes for work or for the kids in the coming months, and get them during the sales when you can often get twice as much for your money. When buying clothes for kids try to buy different size expecting them to be used in few months time ahead. This is practical since kids grow up fast and you will find that clothes that have not actually worn out are already tightened up! The daily finance tips is also appropriate if you have more than one kid. Recycling the garments best describes the situation!

4. Improve your financial management: If you are the type of person that hates to look at their bank balance and does nothing to monitor income and outgoings then now is the time to make a change. Keep a track on everything that goes in and out of your account, and check your balance regularly. If you are doing on a constant basis, you will just need three to five minutes once every three days to do it. Readers who use the mentioned daily finance tips may be able to trace where your cash goes and to reconsider whether that such expense should be carry on in the future.

5. Review your debts: Most of us have a number of debts in one form or another, whether it is credit cards, stores cards, or loans. Take a look at how much you owe and see whether you could save yourself hassle and money each month by consolidating your debts – or in the case of just credit card debts by transferring them onto a 0% balance transfer card.

Category: Daily finance tips