Simple Steps For Stabler Finances

Bad financial management is one of the biggest sources of stress in countless people’s lives. When you have a loose grip on your money, it can strain your time, your disposable income and most of all your nerves! If money issues are constantly creeping up on you and causing you stress, here are some simple ways to regain control.

Have Emergency Savings

Although no one wants to have to tap into an emergency cash reserve, life isn’t a bed of roses, and when chance pulls a fast one, having this cash cushion to fall back on can be exceedingly useful. If you were put out of work tomorrow, or your washing machine decided to flood your house, would you be able to cover the gap in your finances quickly and easily? If the answer is no, then it’s time to start an emergency fund and have a plan for building it. Most financial advisors say that you should have enough to cover your living expenses for at least three months stashed away in a separate account.

Start Investing Now!

I know, this may not sound like the simplest way to help your cash flow. However, investing is now more accessible than it’s ever been before, and getting an early start can pay off massively in the future. The sooner you start, the more time you’ll have to watch your investments grow, the more flexibility you’ll have for taking risks, and the more you’ll learn about any given market. Do a little research, and gauge how easy it would be to learn how to do binary options trading or get a good handle on another accessible form of investing. You may be pleasantly surprised by what you find!

Dodge “Laziness Tax”

You may not know it, but we’re all being taxed for our laziness. You could be paying significantly less for things such as car insurance, electricity, internet service and so on simply by shopping around for longer. Even calling up your current supplier and telling them you’re not happy with the deal you’re receiving can be enough for them to offer you something much cheaper. These companies know that the bulk of their customers won’t bother pushing for a better deal, so if you’re in that small demographic who drives a hard bargain, you can bank some incredible savings. Aside from that, using comparison sites when you’re sourcing something new can make a big difference.

Ditch Your Cards

If you have a store card, credit card and backup credit card, you’re in big trouble. Firstly, you’re opening yourself up to a lot of fees and charges. Second, you’ll have easy access to a lot of credit which you may not necessarily need. Unless you’ve got airtight self-discipline, this can easily lead to snowballing debt. Take a good look at the cards you currently own, try to rationalize each one, and then cancel the ones you really don’t need. This simple change can do a lot to keep your head above water in the future.