Thursday, January 28, 2016

Money Wasting: Without Realizing It




Even if your bank balance suggests that you’re Money man and going pretty rich. And, you have enough to eat and merry, however wasting money is criminally stupid.  Take some time out from your busy schedule and think of all the valuable things that you could do with the wasted money and make life better for someone else. Even if this thought doesn't click to you, then think of what you could do with the money that would make life better for your own future self. Time will roll out faster and things will not be the same as they are today. The family you are going to have tomorrow might very well wish he or she had more money in possession.

Reconsider your money ways as early as possible because putting your money into a trash bag, and watching it being driven off down the street in a garbage truck can’t be sanity. Generally speaking you may not realize how much money you’re actually wasting. Here are five signs you need to curb your spending before you send more cash to the dump:
You Have a Habit of Buying New Stuffs:
Do you have this irresistible need of buying new things the moment they are out in the market? Then, here’s is a shattering point for you. There’s always going to be new stuffs in the market and fancy new fill-in-the-blanks with it. Commerce is what makes the world go around, if companies stopped creating new version of things to sell, they would go out of business. So, what do you think? Is there a need to succumb to pulsating impulse and rush to get everything the minute it hits the shelf and waste your money?
You Give Too Much Importance to Things You Don’t Need:
Whenever there’s a super Saturday offer, or free shipping day, and you’re right out there with the rest of them, virtually or really – fighting your way through the crowds to get your hands on stuff you never before cared. Just throw a calculative look and see how much you might have been saving if you keep your local department or computer store’s special sales, and you would never pass up two-for-one coupons for things you don’t even needed.
Always Picking Up the Check:
For some people, being able to pay for a friend’s dinner or the bill of a round of drinks is absolutely a source of pride. But, by doing that if you’re going into debt or putting off more expenses than you have gone too far. When you start doing things like this your friends or family members begin to expect such treatment and you continue to over burden yourself with excessive expenses.

Thursday, January 14, 2016

Bad Money Habits: You Need to Take These Red Flags Seriously



This is a very common scenario in the world of personal finance that people often ignore the red flags that warns and suggests them that their financial situation is unstable and susceptible to collapse. However, you must understand that you must note the occurrence of red flags as the first alarm of bad money habit that can lead to dire consequences.
Always being on the lookout for the following red flags will not only signal you that your finances are in disarray, but will also save you from major problems.

Having Revolving Balances on Your Credit Card:

Never take your credit card bills lightly. People, who fail to pay off their credit card bills in full each month, by definition, are in violation of one of the 10 commandments of personal finance. Which points out that they spend more than what they earn. As a result they are more susceptible to defaulting on their obligations down the road.

If You Were Turned Down for a Loan:

According to finance investment companies in Delhi, India if you were turned down for a loan, it’s not at all an episode to overlook with ease. It’s a sure sign that you are already running out of money and that your debt-to-income ratio is not as reliable as a lender would expect it to be.  

You Are Unable to Control Your Spending Behaviour:

This is one of the most alarming red flags because it indicates that although you are aware of your bad personal finance habits, you are unable to control it. Also, this may lead to other problems like fighting with your spouse as financial troubles often lead to domestic trouble.

Borrowing From Your Family & Friends: 

The necessity to borrow from your friends and family is another alarming situation that not only sows the seed of discontent, but also bring you under the risk of facing more dense problems in future due to bad money habits.

Not Having an Emergency Savings Account: 

If you are living from paycheck to paycheck ignoring the importance of having an emergency account, then you are doing a fatal mistake. According to finance investment companies in Delhi, India not having an emergency savings account with at least three months saving expenses means you can be completely derailed by even the most modest unexpected expenses, such as the need for covering medical bills.

So, here’s the list of five most important pointers, if you find yourself participating in two or more of these practices, then you are recommended to get your financial house in order as soon as possible before an irreversible problem strikes you in the future.