During these times when the cost of living is quite high and the job market is becoming an easier victim of recession, most people are finding it extremely difficult to be able to handle their financial planning. If you find that your money bag is light as a feather by the end of the month with almost nothing left to store in the bank for future purposes, it means that you are in financial trouble. The solution is to get some good financial advice which could help you to chart out a proper guide to save money.
What can you do to save money? The first thing to start with is a decent job. If you think that your current job is not offering you enough amount of satisfaction, it is better to start looking elsewhere. You do not have to leave your current job until you have found a better one, so in this way you will not be taking any big risks. You can post your CV online in various job searching sites and anyone who is interested in hiring you because of your skills, will definitely do so. It is also important to remember that you should put up a CV that is perfect, and beyond any criticism. The more experience you can list, the better will your chances be in getting a good job.
Another good piece of financial advice is to cut down on the cost of expenditure. Yes, it is hard to tighten your purse strings nowadays when almost everything in the market costs high. The trick lies in selective marketing. All you do is create a list of all the things you want to buy and then select the ones which are very important. If after buying these items you are still left with a decent amount, you could invest in some other things that you find attractive.
Always set apart a portion of your income as savings. This is the best financial advice you can ever get. A lot of people think that they will buy all that they need first and then save whatever is left. If you go ahead with this plan your income will not even last a month. It is important that you save a portion of your income immediately before you go out and buy things.
Go for insurances. Be it for your health or car or your house, always keep your insurance with you. In case of emergency situations, these would help you to get through the toughest times. If you do not have insurances, you will basically have to pay out of your pockets immediately. If there is a serious health risk and you do not have the sufficient money, it could be disastrous.
Request exemption for municipal taxes
People with a low income can request an exemption from their municipality for municipal taxes and water board tax. Usually the required application form is included in the assessment. Those who qualify for the exemption can save a few hundred dollars.
Savers and investors pay tax on their assets each year above the exemption. Anyone who exceeds the exemption can consider paying off his mortgage or choosing green savings or investing. Then additional exemptions apply. Also donating to children can be an option.
Buy and sell second hand
Almost everyone has unused items that can be taken away. Run your house on things you can do without and put them on the internet or hang a note in the supermarket. It can all be cheaper, by buying second-hand items. On offer sites, thousands of used refrigerators, washing machines, ovens, microwave ovens, beds, kitchen equipment, musical instruments, CDs, books and other things can be purchased.
Do the big groceries once a week at a cheap supermarket and see which offers other supermarkets have. Prepare a list of what you need beforehand and do not be tempted by impulse buying. Offers from folders can be found. You can search by word, brand, store or category.
Basic items such as shampoo, coffee, make-up, detergents and toilet paper often go away for stunt prices. Many supermarkets and drug stores offer high discounts of up to 50%. Through their sites and folders you can keep an eye on which offers are up-to-date or will be coming soon. Save these products large, then you almost never have to pay the full price for this.
Do not live on credit
Keep to the principle that you are never red on your current account, do not buy on installments or borrow money. Borrowing money by being red on your current account is expensive. You pay high interest rates, sometimes even more when red is not allowed. Try to avoid this as much as possible.
Paying bills too late can also be expensive if you then have to pay interest or collection costs. Paying off debts is also a form of saving.
Get the top of the top mortgage
Has your home increased in value over the years? Have you already paid off a large part of your mortgage? Or can you demonstrate a higher value with a valuation report? Many mortgage lenders leave the interest surcharge for a top mortgage on the interest rate review date. Pull the bell with your mortgage lender.
Follow these financial tips and see how your life changes. Life is so unpredictable that you can only do your best in preparing for the toughest challenges on the road.