Top 10 Tips for Taking Back Control of Your Finances

Does thinking about your finances send a shiver up your spine? You may be afraid of your money. Your attitude towards money can affect you positively or negatively.

Luckily, even if the thought of your finances fills you with dread, you can take certain actions that will enable you to take back control.

These tips will help you get a handle on your finances:

1. Don't be afraid to handle your own bills.

If you're in the habit of having someone else handle your bills, begin doing them on your own and understand them.

Take one day a month to sit down, go over your bills, and pay them.

2. Consider getting a consolidation loan.

If you have a lot of installment loans and credit cards, you may want to consider getting a consolidation loan.

This type of loan combines all of your payments so you just make one per month and save money on interest fees.

3. Ensure you're saving money every month.

A good rule of thumb to follow is to save 15% of your salary each month and put it into an account that earns interest.

Once you've built an emergency fund that you're comfortable with, start investing your savings.

4. Consider refinancing your mortgage.

When interest rates are lower than the one you started your mortgage with, you may be able to save thousands of dollars on your mortgage by refinancing.

This is particularly true if you intend to stay in your house for years. Do the math to see if refinancing would be advantageous for you.

5. Plan for vacations ahead of time.

Plan for trips by joining travel clubs that can offer you tremendous savings.

This can give you much more fun for your money.

6. Make investments wisely.

Investing in your future is good for you and your family.

Seek professional help from a financial advisor if you're unsure which investments would be right for you.

7. Consider getting special accounts for Christmas and other special events.

Do you always find that you're short on funds during the holidays?

Putting away a little bit each month can add up to a lot, when you save consistently.

8. Car repairs may need a separate account too.

Inspections and other repairs can cost a lot of money.

Having a special account for these repairs can lessen the financial blow when you need to spend money on your car.

9. Understand interest rates and fees on your credit cards.

Make your payments on time to avoid extra fees. See if you can negotiate a lower interest rate with your credit card companies or switch to another credit card.

10. Understand your taxes.

If you can't handle these yourself, hire a CPA to assist you. Learning how to do your taxes gives you a tremendous amount of confidence.

Rethinking your finances may take some patience on your part. These tips will help. Just try one strategy at a time. Once you get used to that strategy, add another.

Repeat this routine until you've mastered all 10 tips. If you need further assistance, it could be beneficial to hire a financial planner to guide you through the details.

How did you like this post? If you found this article helpful to you, you may want to share it with others by clicking the social networking buttons – Thank You!


Cheers, Helene Malmsio

Related Reading: How To Make A Budget - Free Online Self Help Guide

"Power Tips" magazine is back!
You Get A Free Complete Self Help Report delivered to your email box every edition, plus you get a free PLR article and other great gifts!

SUBSCRIBE BELOW ...  I promise you will want to USE what you learn!

ShareFacebookTwitterPinterestTumblrRedditWhatsApp

I really want to know what you think of this site, this page, and to hear your tips or suggestions about it.

So please share your story or simply add a Comment in the comment box.

If you feel that the information on this page has been useful to you please give it a Like or share it with your friends - thanks!!

"You are a life Saver!!

I recently discovered this site and I can tell you that my life has not been the same. I now come here EVERYDAY and spend at least 1 hour.

I used to spend that time browsing online fashion and beauty magazine which just means that I spend more. Now I have replaced that habit with coming here.

In future I will think about contributing articles as well. Thank you! Thank you!! Thank you!!! and God bless"

Contact Us | About Us | Terms of Use | Privacy Policy | FAQ | Testimonials

Amazon and the Amazon logo are trademarks of Amazon.com, Inc. or its affiliates. As an Amazon Associate I earn from qualifying purchases. Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.