• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

The Sonic Boom

  • Home
  • About
  • Travel
  • Music
  • Business
  • Lifestyle
  • Health
  • Home & Garden
  • Finance
  • News
  • Blog
  • Contact

August 8, 2019 by Eddy

7 New finance tips to try out!

 

If keeping on top of your finances is important to you, you’ve come to the right place. Simply continue reading in order to discover 7 new finance tips to try out.

7 New finance tips to try out:

1. Start planning for your retirement as soon as possible. The earlier you start planning for your retirement, the earlier you’ll be able to retire. Many individuals make the mistake of putting all their retirement savings into their government-run retirement account or savings account. However, if you want your money to double or triple in value, over a 10 year period, you’ll need to invest part of the money, which you allocated for your retirement. As your returns from your investments will be far higher than the interest which you’ll receive on your savings accounts.

2. Choose a savings account which offers a high-interest rate. In order to increase the amount of interest that your savings account will earn you, it’s important to select a savings account which offers a competitive interest rate. If you’re unsure of what your current interest rate is, it’s well worth looking it up and comparing it with the interest rates of other banks, that you could see yourself banking with.

3. Aim to invest a predefined percentage of your monthly income.  As it can be easy to make plans to invest and harder to part with your hard-earned money, it’s a great idea to decide on a specific percentage, which you’re comfortable investing each month. As an example, you may want to start off by committing to invest 20% of your monthly income.

4. Use a debit card to pay for your monthly expenses instead of a credit card. If you want to enjoy all the benefits of owning a credit card but are not thrilled about the idea of paying interest on the money which you spend, you’re far better off signing up for a debit card. As a debit card allows you to use your own income to pay for items.

5. Adjust your budget from month to month. As your expenses are likely to remain the same from month to month, if you’re the type of individual who believes in budgeting, you may want to tweak your budget from month to month. As an example, one month you may have less disposable income as a result of going on vacation or paying for your car to be repaired. Also, remember to budget for any miscellaneous items which you may have to pay for such as birthday gifts.

6. Cut down on the amount of money which you spend on dining out. You’ll be surprised by just how much money you can save by simply cutting down on the number of times which you eat out each month.

7. Aim to purchase big-ticket items on sale. Another way to save thousands of dollars each year is to shop around and to purchase big-ticket items such as electronics and household appliances on sale. As in some cases, you may be able to purchase a brand name product at a fraction of its original price.

So if being in control of your personal finances is important to you, it’s a great idea to use the 7 finance tips listed above to your advantage!

 

Filed Under: Finance

Primary Sidebar

About Us

Hi Everyone. My name is Eddy and I'm a 28 year old American guy. I live outside the box and do things on my own terms. I quit my job a few years ago to pursue my writing passion, so here I am sharing this blog with you!

Connect with us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Newsletter

Future Post

Boy in Green Sweater Holding Gray Metal Tool

The 5 Best Garage Storage Hacks and Solutions That Combat Clutter

If your garage appears to become cluttered too quickly, it’s a sign that you need to find a better way to organize it. Nowadays, various garage organization ideas can help you combat clutter and save time searching for a specific item. These simple organization solutions will work wonders in most cases by just using inexpensive […]

Why Senior Citizens Have a Harder Time Driving?

Back in 2019, at least 45 million people above the age of 65 were licensed drivers and this was a considerable increase from the previous year. Senior citizens tend to find driving challenging, however, they can prevent accidents if they follow certain safety tips. Various statistics have claimed that senior citizens do have a tough […]

img

Home Maintenance Tips You Shouldn’t Ignore

Purchasing a home is a goal for many Americans, and achieving it can be an incredible milestone in life. However, owning your home is only the first step in your journey as a homeowner, and owning property comes with a lot of responsibilities for you to take on. One of the primary responsibilities you’ll have […]

Evidence Gathering In A Personal Injury Lawsuit: How To Go About It

Evidence gathering is an essential part of the personal injury lawsuit. It can make you think in the right direction and the best possible manner. Proper evidence can help you to win the case in court. You need to understand that if you want to win the case in your favor, you must try to […]

How to Plan a Romantic Beach Date

It is extremely rewarding if you plan the perfect date to enjoy with your partner. Even if you can’t plan an extravagant date, just planning a simple one would be appreciated. One of the most popular locations for dates includes the beach. You do not need to worry about planning the perfect date when there […]

Garage Doors Are Strong And Sturdy | Garage Door Repair, Maintenance and Quick Repair

Having a house of your own will certainly provide an opportunity for you to design so that the house can look cool and as you wish. There are many ways that you can try, from making changes to the exterior of your house such as painting walls to changing the model of your garage door. […]

6 Tips for Organizing Your Music Collection

Music has the ability to make any task or chore a little better. It can brighten your mood, energize you, speak to your emotional side, and even help to relax you and alleviate stress. It’s really no wonder that people turn to music throughout their day, as it often provides that much needed escape or […]

Surviving a Historic Storm: BCFS Health and Human Services Helps Texans Restore Power and Hope During Spring Snowstorms

The picturesque snowfalls in Texas in the spring of 2021 initially provided delight for residents and their children, but the severity and longevity of the storms soon proved to become one of the costliest events in the state’s history. The storms caused massive power outages throughout Texas, which combined with record low temperatures to produce […]

Footer

About Us

Hi Everyone. My name is Eddy and I'm a 28 year old American guy. I live outside the box and do things on my own terms. I quit my job a few years ago to pursue my writing passion, so here I am sharing this blog with you!

Latest Post

  • The 5 Best Garage Storage Hacks and Solutions That Combat Clutter
  • Why Senior Citizens Have a Harder Time Driving?
  • Home Maintenance Tips You Shouldn’t Ignore
  • Evidence Gathering In A Personal Injury Lawsuit: How To Go About It
  • How to Plan a Romantic Beach Date

Connect With Us

  • Facebook
  • Google+
  • Instagram
  • Twitter

Copyright © 2021 · Executive Pro on Genesis Framework · WordPress · Log in