Saturday, March 26, 2011

Managing Your Family’s Finances

With the current economic crisis we’re facing now we should be able to manage our finances well in order to cope up with high expenses and bills. This is the time that we have to think first of our basic essentials before indulging to our whims and extravagance. We should look at our budget and plan every incoming expense. Our expenses should not be more than our income because it will create a big imbalance if that will be the case. If we have loans we must assess it in a way that interest should not overburden us and look for ways to lessen it.

Some people who get bankrupt on their finances have a history of entering big-interest loans that in the end eat up the bulk of their income. I have friends who have numerous credit cards that have monthly payments exceeding their salary wages. The interest looms on their budget and they find themselves helpless to get over their debts. When you’re in this kind of situation find someone who can give you advice on how to settle debts and manage your money wisely.

When you have finally found your way out of debt you should be able to start managing your money in a way that it fits your family’s income. Spending on your whims is not bad as long as you have control over it and if you have extra money to spend. I highly recommend looking for good shopping deals as it reduced the price of the commodity.

It’s not so hard to look for one especially when you’re online as many sites offers great discount packages that will give you enough budget to afford the things you want. You just have to know the seasons when stores give out discounted sales. It’s usually after every season when they have to let go of old stocks or out-of-season clothes.

Sometimes when they have to promote a new design or model they will sell the old model at a give-away discounted price. I remember buying our television at almost 40% off when the maker stops manufacturing that model. My husband was working in an appliance store and they give out their current remaining stocks to make way for the new incoming stocks. Employees are the prioritized recipients of big discounts from suppliers and we’re lucky to be one of those.

We can get our favorite items for ourselves, for our homes and for other things in our life without exceeding our budget limits. As my work demands being online most of the time I have the benefit of seeing good buys and able to get some coupons for the things I need. You can get coupon ticket or codes through mail, magazines, newspapers, mobile devices and through internet. The latter is the easiest way as you can use it immediately when you buy things online. These discount coupons can be anything like coupon codes for photo prints, clothing, accessories, clothes, toys, grocery, domain renewal and a lot more.

It always feels good to take advantage of discounts, coupon codes or even free vouchers. I have a friend who always has some vouchers for travel and food. She love having it and sometimes she chose an e-voucher so she can used it online. Well as some says the best things in life is free so having free items or even discounted ones feels good on the pocket. It also feels great to get your favorite things without burdening your budget. That’s what I can call managing your finances well.

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2 comments:

Bela March 26, 2011 at 7:47 PM  

I badly need to learn to save and be debt free but I must admit there are really times that I want to give in to my whims. Thanks for letting me know about discounts and coupons. This will really be a big savings for me if ever I decide to go shopping.

Zed March 29, 2011 at 10:38 AM  

I used to ignore coupons before, but now I have came to know the value and importance of it especially during this trying times in our economy, discounts and coupons really helps a lot, such a sweet way to earn savings.

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