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Showing posts with the label savings

Financial security: Making sure the first paychecks don’t go to waste

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Image source: entrepreneur.com The first paycheck is always a source of pride and joy for new employees as well as new business owners. Usually, employees treat the people they love to a simple celebratory meal. For business owners, they normally have that first check framed. Steve Sorensen embezzlement . What people should be doing with the next paychecks, however, need to be planned out well. Financial experts and consultants explain that this is the time people develop the most important money-saving habits. Steve Sorensen embezzlement . For employees Image source: blackenterprise.com Employees should start investing in an insurance plan as soon as possible – but not blindly. They should learn the policies and coverages, and calculate how much of their monthly paycheck can be used to pay for the plan. This is important since the younger a person is, the cheaper the insurance premiums will be. If the employee can afford it, he or she can look for other investment...

Practical tips to prevent overspending while sheltering at home

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Steve Sorensen Embezzlement. The coronavirus pandemic has greatly affected the economy. Millions of people have lost their jobs and others are earning less than the usual. Even with assistance from the government, financial security should still be prioritized. Despite the lifting of stay-at-home orders, many are choosing to remain indoors to keep their families safe. Here are some practical tips that will help prevent overspending while sheltering at home. Have a budget Steve Sorensen Embezzlement. With the limited resources available to some, it's important to rethink one's purchases. Having a budget can keep the household in check regarding their expenditures. Aside from the day-to-day consumables, there are also bills to pay. For those who live with family, sitting down with other members to discuss the budget might help with getting only the necessities without draining the funds or getting into debt. Prioritize savings Most people who are working fro...

Five tips to become a frugal house buyer

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Image source: forbes.com Even during a pandemic, the real estate industry is not taking a break. Many home buyers this year have spent years to save up for their dream home, and are not being hindered by COVID-19. The thing about buying a home during a crisis is that the price tag can work to one’s advantage. The first step to being a frugal home buyer is to review home prices . This will help a future homebuyer determine how much money needs to be saved for purchasing a house . Pricing is not the same for every state. Consider location when searching for house prices online. Having ballpark figures can lead one to save better and more aggressively. Steve Sorensen Embezzlement . Image source: 7thlvl.com Now, it time’s for practical tips to saving money. Split your paycheck in different accounts . This principle is the same as having an automated savings account. Having two accounts for the paycheck, with one of them rarely used, prevents one from spending the...

Seven tips to help you generate more income amidst COVID-19

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Image source: fool.com Many employees lost their jobs or have their work on hold due to the global health crisis that is COVID-19. With majority of the industries working from home, there is an opportunity to make more money from online gigs. Online tutoring has been quite a stable industry for many years. Now that more students are using computers for learning, tutoring sites have job openings for those who are interested in teaching kids. Market your career expertise . Digital marketers, writers, and editors can sell their expertise on LinkedIn and other network building platforms. During these times, people are inclined to learn new skills and are willing to pay huge money to experts who can share their best practices. Steve Sorensen embezzlement . Image source: nursebuff.com Take online surveys . Brands and research groups are looking for individuals who can share their opinions on topics and are willing to spend a few minutes answering surveys. It’s not a h...

Saving for the future with the present in mind

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Image source: ybs.co.uk When saving for the future, it’s a common idea that the present would look bleak and boring for many people. They may have to skip a few parties, a lot of out of town trips, and would have to be content with home-cooked meals for office lunches. While this may be true, one’s present can still be colorful even when saving for the years to come. Steve Sorensen embezzlement . Formulating a budget and strictly following it can give one a good financial perspective. When a person lives beyond their means, they are giving themselves a bad financial setup for the future. It’s important to create a significant gap between income and spending. Steer clear from lifestyle inflation . Getting a salary raise is great. However, if there is no need to add items to the budget, don’t. Steve Sorensen embezzlement . Image source: money.com Put the raise directly to the savings account, especially when it’s unexpected. This will ensure a wider gap between...