6 Money Mantras for the Year 2013.
The following are the best 6 Money Mantras for the Year 2013.
1. A penny saved is a penny earned
This phrase shows the importance of saving money. Many a times we cannot control ourselves when we see a new phone or an iPad or designer clothes and immediately want to buy them, even if already have them. Discount offers are so tempting, but they are the witty market strategies of the companies to lure the consumers. However, you should exert a self control as a penny you saved is a penny you earned. Save the money you wanted to spend so badly in a bank. This amount in your savings account is a penny earned.
2. “It might have been worse”
This is a common dialogue you hear from people who suffer from poor financial condition. They say this quite a lot but do not intend to improve their condition. For example, some say they are living on their monthly salary and are not saving anything. These people instead of trying to improve their income or curb their expenses, just say that they are at least fortunate they have a job and have a paycheck, or else it could be worse. This attitude fools you into thinking you are doing a fine job, which is not true. Therefore, you must start working now and try to improve your financial condition, so that you do not have to say “others are even worse”.
3. Pay Your Bills
Paying bills is no doubt a good practice, however, it does not imply that you should always pay your bills, without questioning. Sometimes, bill discrepancies and mistakes happen and you would have to pay more. Therefore when you receive your monthly bills, check them carefully and look for any mistakes. For medical bills, you can make a call to the hospital or clinic and ask if the amount can be adjusted. Sometimes you might be offered discounts on bills if you pay beforehand.
4. Money can’t bring happiness but it does help
If only money can bring happiness, then the only rich people like Bill Gates would be happy. However, if you are poor it can make you unhappy too. Money cannot buy you happiness, but not having money does not bring happiness and it stresses you too and makes your life harder. Therefore, you must learn to handle the money you have in hand wisely. Find more tips at list of finance blogs.
5. Double your money safely and wisely
“Keep your friends close and your money closer” is a yesteryear notion. Times have changed now. It is safe to keep your money and assets close, as it is a safe method to track your money, however it is not good to keep it all stuffed in your wallet. Invest wisely, this is a smart way to double your money. If, you are planning to make investments or start a retirement account then contact a good financial advisor. He will show you how you can increase your money or have a good return, through various investments and low risk mutual funds.
6. Pay Debts that make the best financial sense
Many believe that paying off the debts that are small or the ones that provide them the fruits of their labor fast. It does seem good to pay off the small ones first and then focus all your attention on the larger ones. However, just think about the interest rates that add up to your largest debt. While you are busy paying the smallest debt the interest rates of the larger one pile up. Therefore, do some math before you clear your debt. Count how much money you will be paying out in the form of principal and interest. Pay the larger debt with high interest rates first and let the smaller ones with low interests wait. This way you can save a lot of money.
Michael Gocia is author of the article “2013’s money mantras” and writes for directoryready.
Category: Personal Finance
