Got Money?

Many people are scared to put away money in the bank, instead they keep it elsewhere. Keeping money in the bank is a good thing because this is for some people a better way to save. Having your money in more than one place is also a good idea. I live in Louisiana and when Hurricane Katrina hit the individuals in New Orleans lost most of their money that was in the banks. There was no way of getting in touch with the people there because it was under water. So having money in more than one spot is great. Maybe this is a trick that will help some people forget about one account so their money can really add up. We have to fight temptation and it is sometimes hard to save. Look at what saving any little thing can do for your future. When a rainy day come you want to be able to overcome it. Sudden lose of job, would you have money. Just a thought.

Be Safe or Take Risks?

When I think about being safe it just means I have to make safe financial decisions. I would not want to make a decision that I would have to pay for later on. An example would be purchasing a car with not so good credit. The terms of the loan are if you are a day late over the due date you are charged interest of maybe about $6.00 which is added to the loan balance. Talk about caught up. Sometimes individuals have to be late and having this type of loan will not help. Tips would be to shop for the best rates and not jump on anything. Ask questions (this one specifically about interest), Try to get financed through a credit union or bank instead of finance company. The interest is usually lower as well as monthly payments. To gain this type of loan would not be a good financial move unless you are paying the vehicle out quickly or you are NEVER LATE. (What are the odds of that)Interest added could be the extra money you need to put into a savings.

Saving Tips

What are some good tips for saving money? Ways other than savings accounts or IRA's. These are good ways to start. What about DRIP accounts? Is this a good investment? One way I have found to be good is to get a certain amount of money automatically taken from my checking account and put into a savings. Does this actually work when you subscribe to online banking and you can see both accounts, so you see your savings wealth building. Talk about temptation when some just transfer the money back into checking when they need something that may not be that important. So overall is this a good saving tip?

How do you live smart in all ways? Financially, etc.

We as individuals do not know how to live smart. The biggest issue is when it comes to our finances. How to invest and put away the correct and smart way. Obstacles we have to overcome just to be financially set free and what we have to do to gain self control. What can we do to find way to change our daily habit and get in the mind set to prepare our selves to live comfortable and free.