Manage your money in easy way with your card
With a credit card, you can pay after buying something. Sometimes this can be helpful, but can also be dangerous if you spend more than you have. In these cases accumulate debts, which will require monthly payments and interest.
With a debit card, you pay the money saved in your bank and the bank could also lend if you overdo it. Again this might help sometimes but also very expensive. When the bank lends you money on a debit card, charges a fee for an overdraft of $ 25- $ 35. Rates may end up accumulating hundreds of dollars a year for many people.
With a prepaid card, you pay the money you deposit in your card. And you’ll never have to worry about the financial costs of lending money. Spend what you have and never receive overdraft fees. Additionally, some bank sends text alerts (SMS) daily, so you can keep control of your money and invest wisely.
You work hard for your money and you feel good to spend, but before immediate gratification of buying a big LCD so much, you should not forget that saving has its rewards. Impulse purchases can cause problems; so that make a spending plan and make sure you stay within your budget. Saving doesn’t mean you should not buy anything. But, just make sure you will not regret later. Saving means having the resources to plan for your future; means being able to give your children and loved one’s safety; means you can rest easily in case of an emergency and have the financial resources to face your future.
Simple ways to manage your money
If you intend to spend less than you earn, what is your plan? You have to start thinking about simple ways to achieve it. More importantly, take control of your spending. If you do not know how much you spend money, as you might know, how much money are you saving?
– First of all, note how much money you receive in a month.
– Then record your monthly overhead or what you need to spend each month to survive: housing, food, gas, etc.
– Then record your flexible spending or how much you spend for so willingly: new clothes, outputs, or gifts. If your expenses are more than what you earn, here’s you need to change your lifestyle.
– Check your flexible expenses to see what you can eliminate or reduce. Do you really need new jeans or other clothes?
Check your fixed costs: for example, you can reduce your gas usage? There is a supermarket where you can buy cheaper food? Additionally, think about some options to increase your income.