Money management tricks

Searching for money invest recommendations to improve your financial positions and to avoid money problems ? “Nobody ever told me that life insurance could do things for me when I was alive,” admits Kirby Thomas, owner of Life Insurance Today US, a nationwide provider of life insurance for consumers. Some life insurance policies offer an “accelerated benefits” option in which the death benefit is payable while the insured is still alive. “Possible ‘living benefits’ include terminal illness, critical illness, chronic illness, and critical injury,” explains Thomas. “I recently recommended this option for a woman buying insurance for her 75-year-old mother. By buying a policy with the proper riders, instead of the daughter incurring debt to pay for Mom’s future treatment, the life insurance could be used instead. The death benefit would be reduced by the amount accelerated, and the balance paid to the daughter when she lost her Mom.”

Your Financial Education is on YOU: Harshest one out of all the personal finance tips? Maybe, but it also is the truth. No one is generally going to hold your hand and show you how to succeed with your personal finances. This is on you to take action and change your financial health. It will be up to you to start learning and spend time on how finances work. You can do it! Related: Want to become more financially literate? Here are eight simple ways that you can. Read more details at Make Money Tricks.

One of my favorite subjects: budgeting. It’s not a four-letter word. How can you know where your money is going if you don’t budget? How can you set spending and saving goals if you don’t know where your money is going? You need a budget whether you make thousands or hundreds of thousands of dollars a year. Credit card debt is the number one obstacle to getting ahead financially. Those little pieces of plastic are so easy to use, and it’s so easy to forget that it’s real money we’re dealing with when we whip them out to pay for a purchase, large or small. Despite our good resolves to pay the balance off quickly, the reality is that we often don’t, and end up paying far more for things than we would have paid if we had used cash.

Break Down Your Income & Expenses: Credit for this one goes to user GeekLimit on Reddit – one of my favorite personal finance tips! This is an odd little trick that can change the perspective you have about your money, and help you budget better. It’s all about breaking your income and expenses down into daily values, like this: You make $2,500/month = ~$83/day. You pay $800/month for rent = ~$27/day. You pay $200/month for car insurance = ~$7/day. Everything else (food, phone, gas, etc.) comes to $750/month = ~$25/day. That means you’re left with $24/day in spending money. Want to save $1,000 for a nice vacation? You’ll have to save about 42 days worth of your spending money. That means 42 days of not spending a dime. Want to buy a new $10,000 car? That’s about 416 days worth of your spending money. This will help you see how far purchases are going to set you back and affect your spending ability. Visit: http://aspiretomoney.com/.