Personal finance is about how to best spend your money so that you can still have some when you need...

1. Desire A Better Financial Future? Read This Individual
Finance Recommendations!
Personal finance is about how to best spend your money so that you can still have some when you
need it. It has to do with budgeting, spending and all the stuff in between. This article will give you
many tips that you are sure to find useful.
Ask your accountant or other tax professional about deductions and tax credits you qualify for when
doing remodeling on your home. Some things might bright you a bigger return while others won't
yield you any tax savings at all. Sometimes something as simple as the appliances you choose, can
get you another tax credit.
It is a good idea to always file your personal taxes when they are due. This will allow you to get the
refund that you earned as soon as possible. If you owe the government money it's better to just file
near the date they're due which is April 15th.
If you're one half of a married couple, the partner who has the strongest credit should be the one to
apply for a loan. Paying off credit card balances is a great way to repair a bad credit report. Once
your credit score how to set up a company has improved, you'll be able to apply for new loans.
Learn the signs of financial distress to a lender and avoid them. Suddenly opening multiple accounts
or attempting to are huge red flags on your credit report. Using one credit card to pay off another is
a sign of distress as well. Actions like these tell a prospective lender that you are not able to survive
on your current income.
Every dollar counts, and you should find all of the coins in your home and put them in the bank.
Search all of your couch cushions and pockets of your jeans, to find extra quarters, dimes, and

2. nickels that you can cash in. This money is better served earning interest than lying around the
house.
Being a smart shopper can enable one to catch onto money pits that can often lurk in store aisles or
on the shelves. An example can be found in many pet stores where animal specific products will
often consist of the same ingredients despite the animal pictured on the label. Finding things such as
this will prevent one from buying more than is needed.
Keep good records of your expenses. If you aren't keeping accurate records, it's doubtful that you
are claiming all you are allowed at tax time. It also makes your situation very difficult if an audit
should happen. A digital or paper file can work
http://www.bankrate.com/calculators/index-of-taxes-calculators.aspx just fine, so work on creating
the system that works for you.
Teaching children early will help their personal finance improve and enable them to have a strong
idea of the value of things. Teaching ones children will also help the parent brush up on their basic
personal finance skills. Teaching children to save can also help enforce the idea on parents.
Make sure that you are only paying for the amount of home insurance you need. You cannot file a
claim for more than the value of your house and it's contents, so having high insurance coverage
could mean you're paying for something you can't even use. Do an inventory of your house and get a
rough estimate of what you would claim, then speak to your insurance agent to make sure that your
coverage matches that amount.
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.
If you are renting, consider finally taking the plunge and buying a home. You will be building equity
and your portfolio. You can also get certain tax credits from the government for buying a new home
and stimulating the economy. You will not only be saving yourself money, but also helping your
country as well!
If your employer offers a match to your 401K, make sure you're contributing at least the amount
they match. When an employer offers to match your funds, they are essentially giving you free
money. The money you contribute will help you reach retirement goals and is tax free. It's a win-win
situation, all around.
A great tip for personal finances is to never buy anything with cash. It is very difficult to track cash
and know penny for penny where your money is going. Rather you should use your bank card for
everything, and write down in a journal or budget log every time you use it. Then analyze it at the
end of the month and determine where you need to cut back.
A great way to save money, with gas being as expensive as it is, is to cut down on your driving. If you
have several errands to run, try to do them altogether in one trip. Connect all the places you need to
go to into an efficient route to save mileage, and in effect, save on gas.
You should always be up front with your spouse about your spending if you want your financial
situation to remain steady. Lying can not only cause a rift in the marriage, but you might be locked

3. out of the account or be knocked off of the credit cards. And if you manage to pile up the debt with
secret spending, you're hurting the entire family's financial situation.
If you are trying to save money, have a certain amount or percentage of your paycheck automatically
deposited into a savings account every time you get paid. Whether you can afford to save ten dollars
a week or a hundred, having the money removed automatically reduces the likelihood that you will
spend it on frivolous things. You may not even notice the money is "gone."
In order to maintain good personal finances, you need to learn how to borrow wisely. It is important
that you do not get yourself into debt with credit cards that charge you 20% interest or even more.
That is like throwing your money away. Learn to only borrow money for major purchases that you
genuinely need, and understand the importance of getting the lowest interest rate possible.
As said in the beginning of this article, it can be overwhelming to pay back any of the debt you owe.
Don't give in to loan sharks or credit card companies with high interest rates. Remember the tips in
this article, so that you can make the most of your income.