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4 Personal Finance Tips for 2013

Here we are, more than halfway into 2013, and there is certainly no better time to start having a look over our finances. It doesn’t matter whether you want to save some extra cash or simply want to make your monthly wage spread out further, the time is now to start thinking about your financial status! It’s not an easy task to figure out an appropriate budget or work out your interest rates – however it certainly is possible! Here are some tips to help save you money, pay off debts and stretch your paycheck just that little bit further.

 

Check your credit report

This seems quite obvious however it’s quite interesting to see how many of us have no idea what our credit report is showing in regards to our spending. If we want to save, we need to know what credit we have and the levels of our credit history. Yes this may seem daunting, but once you have a better idea of your credit score you can start planning how you can repair any damage there may be!

 

Plan to save

Simply ‘wanting’ to save unfortunately is not enough – too many times the plans in our heads don’t come to fruition because it is not set in stone. One of the most vital things you can do is start a savings plan – not in your head but written down. This makes things much more clear and holds you accountable for your actions. If your savings plan doesn’t allow you to buy that new pair of shoes, then so be it – in the end it will pay off. You should first focus on all the little things you buy, as these are the things that can very quickly add up and strip you of your hard earned cash. Things like bringing your own lunch to work instead of buying every day can save you a lot of money. Once you have even a small amount of savings make sure to open a savings account that is difficult to touch. Then you can keep adding to it monthly, and let the money gain interest – certainly a sound investment!

 

Set some reminders

It can be confusing keeping track of all direct debits coming from your account as well as when payments for bills are due. It’s very important to keep track of these things for two reasons – it ensures that you know how much money you will need to have in your account to cover the payments, and it also makes it more likely that you will pay your bills on time, avoiding extra late payment fees. Set reminders on your phone, write notes on your fridge – whatever works for you, do it!

 

Have fun with your savings plan

Most important make sure to have some fun when creating, planning and budgeting for your future savings. It may be a little daunting at the beginning, but having some savings for your future is a wonderful thing and will give you some much needed security in the future. You don’t need to spend a lot of money to have fun – there are plenty of excellent things to do for free! Go out and enjoy the nature, have a picnic in the park or watch the sunset at the beach. The world is your oyster!

 

About Jess

Jess hails from Sunny Australia and is the youngest of the frugal ladies. She loves shopping for a bargain, reading, watching movies and spends most of her life on the beach

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  • Almost Supermom

    Great tips! Thanks!

  • Healy Harpster

    Thanks for sharing the four finance tips. We really need this!

  • Monica

    Great tips! I especially need to remember setting reminders. I’m not always good about it and it helps to have a reminder system in place as a busy mom who is often (too often!) forgetful about these things (which are incredibly important!).

  • Christine Luken

    Great tips! I’ll be sharing this with my fans! 🙂

  • cyndie

    I am a saver! Great tips!

  • Great tips!

  • Liz @ A Nut in a Nutshell

    I’m a huge saver and I’m doing pretty well with it. One thing I love is that I have a monthly amount pulled automatically from checking to savings and I don’t even miss it!

  • Very good tips Jess. I agree one must constantly keep a check on credit score and improve it. I like to save a lot and liked your reminders idea either on refrigerator or cell phone as they are the ones which I use often in a day. Thanks for sharing

  • Definitely agree on checking that credit report. After my divorce, I found some “questionable” activity on my credit report from an address I’d never lived. I’m still trying to deal with that stuff.

  • Amy Desrosiers

    We have a pretty good savings plan in place that has allowed us to pay off our cars, and buy a home at 25. I love your tips, and always find inspiration in fellow budgeting extraordinaires.

  • With the way the economy is, we need to be smarter with our money than ever before. Thanks for the tips.

  • Janeane Davis

    These are good tips. I like that you not only advise us to save, but to have fun with the savings. Money has a purpose and should not be a goal only unto itself.

  • Coupon Friendly

    I love these tips and use them often. My husband put a whiteboard in our hallway for me to write down reminders and such. I often forget stuff, so it helps a lot!

  • Debra Rutt

    All important tips to remember and do every so often – and not wait until there is a financial crisis to get it all in order.

  • IThoughtIKnewMama

    Checking your credit report is such important advice! I have found the most mindblowing mistakes on mine. I once found a late mortgage payment that my parents made on their house FIVE years before I was born. 🙂

  • Saving Common Cents

    These are all really good reminders on how to keep your finances in check! Especially checking your credit report on a regular basis!

  • Shannah at Just Us Four

    Great tips! We set up an automatic saving transfer each year to keep ourselves on track. One goes to our emergency savings while the other is for fun stuff so we can take a fun vacation each year.

  • ashleybliss

    Great tips! I really need to set aside some time and figure out a savings plan for my fiance and I. I just took a trip to get an oil change & tires rotated and found out I need about $1500 worth of maintenance on my car, if I would have been saving it wouldn’t be such a huge headache!!

  • Great reminders! We also do the automatic transfer and it helps, a lot.

  • Emerald

    I needed to read this. My debt is sky high and I’m only 23. After reading this I have decided to dissect my spending and see where I could and will improve

  • Chitownchica

    I need to get on these tips because I am really bad about taking care of my finances.

  • calichristy2

    excellent tips!!

  • Laurie Floyd

    Thanks for these great tips!! Every young person just starting out in life should read this!!!

  • Motherhood on the Rocks

    Great tips! Thanks for sharing!

  • Lalitha Prakash

    I agree with your saving and planning ideas, and I am also implementing them 🙂

  • Jaden Lloyd

    Totally agree with these tips. Thanks a lot!

  • eric rivera

    Have fun with your savings plan was a great tip!! thanks!

  • Erika Messer

    Great ideas, I am going to try! I don’t know how far I will get LOL 🙂 I hope it goes well for you!

  • Joana Bento

    I really like the “Set some reminders” tip. I could really use it!

  • Brandt

    saving money and being in control of your finances is so important

  • dianna1

    Thanks, great tips to keep in mind to keep oneself in line with savings. This is probably one of the hardest things to do in life, but one of the most important

  • Richard Hicks

    Nice tips. I need to check my credit report!