1. Welcome to kiwibox



  2. Logo


  3. Notifications


  4. Settings


  5. Supermodul

    The supermodul summarizes various contents. Enjoy exploring!


cageyroste876   , 44

from Odum


Saving For A Rainy Day?

Waiting until you're in debts before deciding to go seek for debt advice is in fact a fallacy. These services are available free at your local bank and they'll teach you a lot about budgeting, repayment of debts and even how to enhance your finances.


The most outrageous of them all are the ones who appear to think it isn't proper to discuss one's debts with total strangers, meaning professionals. Here are good advice on how to avoid falling into debt by managing your finances well. For those who are after a little more answers pertaining to saving for a rainy day, point your browser at read full article.

The minute you find yourself in debts, the first thing is to list down all the spending so that you will be able to locate the main trouble spots. This takes a great deal of courage to do, but try and keep the bull by the horns and it will remind you not to repeat these same errors in the future.

Saving For A Rainy Day: Expanding The Circle

Yes, I'm a saver; but not just money. I save time. For example, I organize my grocery list by supermarket sections-frozen foods, canned goods, bakery, beverages, paper supplies, pharmaceutical and miscellaneous. Miscellaneous includes things like potato chips. Potato chips seem less fattening when they are categorized as miscellaneous instead of snacks. Produce is always last on my list because that's where I spend the most time. I envy those who can just scoop green beans into a plastic bag or take a basket of tomatoes without checking each one. Nevertheless, the time I save in the supermarket is time I can spend on me. I consider this form of spending to be an investment-in my sanity. You'll enjoy this: http://terryinshape.webgarden.com/sections/blog/imagine-winning-the-lottery.

Normally the possible culprit will be the enhanced utilization of the credit card. These you should do your best to get rid of. It is always advisable to start making arrangements to start some savings immediately you notice where the loopholes had presented themselves.

Anytime you're out shopping, it is important to keep a well planned shopping list and enough cash to meet the whole shopping. This will prevent you from deviating from your list as you'll have to use only the cash you bring with you to the shop. Try to avoid going again to the fallback position of using credit cards.

Create a proper budget and stick to it. It is important to seek out your spending areas too. The same goes with tracking down and curbing your expenses. For instance, if you overshoot the amount set aside for weekly groceries, find out what additional item you bought that was really not needed. This will make you prudent enough to stick to your shopping list and not deviate when you shop at a later date. Credit cards are a definite 'no' when it is a question of wise investment management since they charge a bomb as interest that has to be returned with the principal. You are a step nearer to intelligent investment planning as all the interest and late fees is channeled towards your investment program by clearing credit payments. Sometimes, you meet with emergencies and you need ready cash. Extra cash from your savings bank or mutual funds can be of great help, on such occasions.

You will need to eliminate all your living expenses and utility accounts from the income you receive at the start of each month. Put the rest either into a personal savings account or start to pay your debts little by little, one thing at a time. Remember also the good old advice of saving for a showery day.

Consider savings as an expense. The generic savings formula is income minus expenses equals savings. The problem with this is there is a huge chance your expenses are equal to your income, so there's no more to save.

You need to make some changes with your equation. To learn how to save money every month, include your desired savings to your expenses.

When handling the repayment of debts, it is preferable to go for the ones with greater priority first, and this will specifically be the ones with higher interest rates because they'll keep growing bigger the longer you take with them. It means that if you pay them first, it indirectly translates into a saving for you.

Another way to tackle stubborn debts is to think of taking up a part time paying job to give you extra money which you'll then channel to the repayment of the debts. You could also seek expert advice on how to deal with debts. They will basically show you how to deal with debts properly through working out a suitable repayment plan, or they'll discuss with you the many ways in which you could improve your financial situation. It is always recommended that you do enough research before going for a particular debt solution.