Friday, February 26, 2016

Money Management

What is money management?

Budgeting is important. Determining in advance how far your money can go is the corneerstone of budgeting. Money Management means making good choices. If you can become more disciplined about distinguishing between what you want and what you actually need, and you’ll be poised to make better financial, decisions going forward. One of the biggest challenges to getting credit is not having it in the first place. Start to build your credit early and more importantly, maintain a good credit store.
Money management is the process of knowing where you are spending your money today and in the future. With money solution, you can save money on budget and at the same time manage your finance. Don’t spend unnecessary money on buying the expensive prodcuts. Make the list of monthly expenses and save money.
Golden Rules of cash Management
•             Put a broad limit to regular expenses in order that they are doing not leave of management.
•             Look at numerous payment choices like zero-interest EMI whereas shopping for a valuable item.
•             Do not hesitate to elicit discounts and complementary services.
•             Before creating an enormous purchase, surf the net to appear for discounts.
•             The net also can assist you save on brokerage whereas shopping for AN insurance product or perhaps a house.
Be prepared to handle your money wisely:
·         Consider a bank that insures its deposits through the federal government (FDIC or NCUA)
·         Use direct deposit

·         Track your ATM, check or debit card use

·         Review your monthly bank statement

 Money Saving Ideas for College Students

Food: Skip the fast food forays and late night take-out. Make sure you keep healthy, affordable options in your room or apartment. Yougurt, cottage cheese, string cheese, bagels, peanut butter are all affordable, convenient and much more healthy than a late night burger and fries.

Entertainment: Pick up a local newspaper and check upcoming events for freebies: concerts, arts and crafts fairs, theater, festivals, art galleries, and museums.

Low cost, Meaningful Gifts: Unique photo frames made from items like wooden rulers, paperclips or chopsticks.

Alcohol: At a sit-down restaurent avoid ordering the alcoholic beverages. Most restaurants make a killing on beer. Wine and fancy cocktails. The alcohol mark up can be anywhere between 75 and 400 percent.

Books: Before you even think about putting our money for a textbook, don’t you think someone else on campus had to already have one? Borrow of it’s possible.


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