Category: Blog

6 Ways you can Manage your Money in a Better Way

Money is something that people need in order to survive. But many people find it difficult to manage money. They get into the habit of spending more, going into debts and failing to come out of this complex situation. However, there are some easy tricks to manage your money and lead a peaceful life.

1. Have a savings account with high-interest rate

Most people have a savings account, but they rarely check the interest rate they are getting. There are many banks today that offer five times more interest rate than the national average. You should do some shopping and find out which bank is giving more interest rate on the savings account and open an account there.

2. Consolidate your accounts

Having too many accounts can cost you money. The annual fees for some of the accounts can be high. So, you can consolidate those accounts and make them into one. That way, you will be saving money. Some bank will offer you free service charge if you keep a balance of a certain amount all the time. It will also be easy to manage one account.

3. Set up a budget

You must observe your spending for a month. See how much you need to pay your bills and how much goes towards other expenses. Then set up a budget for next month and try to stick to it. That way you will be able to manage your money comfortably and will be out of debt.

4. Use cash

Having too many credit cards can be bad. You will feel the urge to spend more money and use credit card always to purchase things. So, try to use cash all the time. That way you will be able to keep track of your money all the time.

5. Do balance transfer

If you have too many credit cards and have balances on those cards which you find hard to manage every month, then you can do a balance transfer. Choose a card that offers low-interest rate. The balance transfer is usually free. So, now you will need to manage only one debt account.

6. Track your expenses

You should track your monthly expenses. Sometimes, we sign up for credit cards or upgrade our cable or internet deals unnecessarily.Find out whether these deals are necessary. If not, cancel them or downgrade to a suitable package. Lower the number of bills you have to give out the better it is.

You will have to simplify your lifestyle in order to manage your money comfortably. If you spend wisely and stick to your budget all the time then you won’t have to deal with any debt and managing your money will become easy.

Top 6 Tips for Getting out of Debt

According to a recent consumer survey, two out of 5 households in the US are in debt. This statistics is a bad sign and indicates that people are struggling to lead a financially sound life. Some people are paying off the debt amount every day, but there are others who are struggling to do so. If you are in debt and struggling to pay off the money then here are some tips for you.

Pay more than minimum every month

If you pay only the minimum every month, it will take a long time to pay off your debt. You might end up paying triple the amount you borrowed from the credit card originally. So, you should try to pay off more than your minimum amount every month and pay off the entire money within a short time.

Stop taking more debts

Some people get into a never-ending circle of debt because they keep on taking more debt while they are paying off the money for their previous debt. This will get you nowhere. So, you should stop taking further debts. If necessary, you should freeze your credit cards.

Create an emergency fund

You should have an emergency fund and you must deposit money into this fund every month. So, whenever you will require money for any emergency purpose, you will be able to use up the money from the emergency fund. This way you won’t use your credit card or apply for other loans.

Negotiate lower interest rates

If you have a good credit history you can negotiate with your creditor to lower your interest rate. When you pay the minimum amount every month, most of it goes to pay off the interest; the original amount still remains. If you can get a low-interest rate then you will be able to pay off your debt fast.

Deal with one credit card at a time

If you have multiple credit cards, then it’s better to deal with one credit card at a time. So, keep on paying the minimum charges for the other credit cards and pay more money on the card that has the highest interest rate first. That way you will be able to get out of debt quickly.

Credit counseling service

If you think that you are having a difficult time managing your credits then you can consult a credit counseling service. They can negotiate a lower interest rate for you with your creditors and make a plan so that you can slowly pay off all your debts.

These are great tips for getting off your debt fast. You should try to be debt free in future. You must spend according to what you earn. That way you will be saved from the burden of debts.

6 Smart Ways to Invest your Money

As you keep on working your salary increases over the years, you get increments and other benefits. Many people like piling up their money in their savings account. However, they don’t realize that they are earning very low interest by keeping their money there. Instead, if they invested their money elsewhere they will be able to get a good return. Here are some smart ways to invest your money.


Though stock market is volatile, you should spend money in this market to get good returns. You should have good knowledge about the market and keep track of the prices of stocks. You should buy more stocks when the price is low and buy less of them when the price is high. Over time the price of your stock will increase in value and you will be able to earn a lot of money.


If you don’t want to take much risk with your money then it’s better to invest in bonds. You can invest your money in a government or private company and get some interest for the money you have lent them. If you invest in long-term bonds then you will get a higher return.


The price of gold keeps on increasing, so it’s a good investment. You can stock up gold and sell them when the price is high, when necessary. You can invest in gold mutual funds, gold deposit schemes or gold Exchange-Traded Funds.

Real estate

Buying properties is one of the safest forms of investment. The prices of housing keep on increasing; though there has been a downturn in this market in the past. The chance of the price of property falling in future is very slim. So, you can invest in properties. You can buy a house or luxury property and rent it out. You can also invest in commercial properties and lease out the property or rent it out.

Mutual fund

By buying mutual funds, you can get very high returns. The asset management company invests your money in shares, debt securities, and other forms of securities. In return, you get high returns.

Invest in a business

You can think of an innovative idea and start your own business. You can start it while having a fulltime job. If you see that one of your friends is having a profitable business, you can invest in your friends’ business as well.

These are long-term investment opportunities and the risks involved are low if you invest carefully. You should study the financial market and always stay updated with the latest trends. When you have money, keeping it idle will be a foolish thing to do. You should invest your money in different ventures and try to get high returns.

© 2018 JP Chevallier

Theme by Anders NorenUp ↑