..

Money

  • Written by News Company
Not every wealthy person ended up with a great deal of money because they were born into a trust fund family. In many cases, they used wise money management skills and a finely honed work ethic to get into the fortunate financial position they have now managed to achieve. Even if you’re starting with very little, financially speaking, there are smart spending habits you can adopt that can help you make more of what you have. Small savings can add up, and in time you could achieve the financial freedom you’ve always wanted.




 

Get out of the rental market.

 

Everybody knows that sticking around in the rental market is essentially spending your salary every month to pay off someone else’s mortgage. It works well for a while, but eventually you’ll find that you’re draining your income source without reaching your own financial goals. While getting into a position where securing a mortgage may take time, there are exciting and innovative strategies available today that could help you become a homeowner sooner than you might be expecting. For example, steel kit homes give you an opportunity to design your own dream home while offering the flexibility to create a property you can actually afford. Explore your options before you sign yourself over to another long-term lease.

 

Buy pieces that last.

 

It’s tough to consider this piece of advice when your short on cash, but it will pay off in the long run. Avoid fast fashion, cheap furnishings, and short-term savings and focus on the bigger picture when making purchases instead. Before you buy something, consider whether it will retain its value or end up in the back of your cupboard within the next year or so. This is especially important when it comes to big purchases like cars - that second-hand cheapie you found online may look like a bargain, but when you consider the costs involved to keep it running, you could be pouring money down the drain.

 

Take note of waste.

 

Start paying close attention to your grocery shopping and consumption habits. For example, take a look at how much of your weekly shop ends up going off before being eaten, or going in the bin rather than being consumed. Many families head to the supermarket without proper lists, buy unnecessary ingredients, and waste money without meaning to by essentially purchasing food just to throw away later. Shop smarter by meal planning, making clear lists, and only buying what you’ll really use.

 

Manage credit sensibly.

 

Having a credit card is often seen as an all-out bad decision, especially for young people, but that’s not necessarily the case. Building a good credit score is essential if you want to land a mortgage in the future and create a solid financial future for yourself. Shop around for a credit card with great rewards and a low interest rate, and then be very, very careful about how you use it. That means no impulse buys, no big purchases, and a carefully scheduled repayment date each month that you meet no matter what. Using your credit card to pay for a small grocery shop and then paying it off on time each month is a great way to slowly but surely build up a solid credit score.

Politics

George Neophytou supports roads funding and more

Independent candidate for Gippsland East George Neophytou has pledged to support completion of duplication of the Princes Highway between Traralgon and Sale and to upgrading of the Sale alternative ...

Scott Morrison interview with Alan Jones

Belt and Road Initiative; Law and order in Victoria; Queensland infrastructure; Power prices; Paris Agreement; Immigration; Negative gearing.   ALAN JONES: Prime Minister, good morning.   PRIME ...

George Neophytou a real force to stop the Fingerboards Mine

George Neophytou a solicitor contesting the election as an Independent Candidate has been an activist against the Fingerboards Mineral Sands Mine for over two years. His track record shows ability a...

Business News

Hussh

Hussh . . . The Secret is Out Your exclusive invitation to 9 massive warehouse sales this week The secret to huge savings is shopping directly from the warehouses of Australia’s biggest wholesa...

Web Wisdom - Simple Ways to Increase Sales as an e-Commerce Website

The online marketplace is a virtual paradise for consumers who love a bargain. Today’s e-commerce has become so evolved that consumers not only have purchasing power, but they also can influence maj...

Digital marketing agencies are fudging the numbers and distorting the outcomes for their clients

Many digital marketing agencies manipulate reports to make themselves look good, offering vanity stats that really provide no benefit to their clients. One of the most common mistakes companies make...

Travel

Pet-Friendly Summer Destinations in NZ

No one wants to leave their pet at home and why should you have to? When it comes to traveling around in a campervan hire New Zealand, you may not want to live your precious animal back home. You shou...

DriveMyCar

DON’T GET SLUGGED WITH THE SIX-HUNDRED-DOLLAR CHRISTMAS TAX Revealed: traditional car rental companies charging 3.3 times more to rent a vehicle over Christmas A comparison of rental costs per day...

Looking for a Romantic Destination? Here’s Why the Philippines May Be Perfect for You

Image Source: https://pixabay.com/en/couple-man-woman-girl-guy-love-2585328/Perhaps, you want a spot to celebrate your honeymoon after several months of wedding planning. Or, maybe you are just loo...