Being smart with your money: 5 great moves
You're smart in life and relationships, but are you smart with your money? Are you saving for the future? Do you manage your money or does it manage you?
The answers to these questions can make the difference between financial security and financial stress. Before depositing your next paycheck or mailing another bill, take a minute to learn about five smart money moves.
Pay attention to your credit score
Your credit score gives you access to great loan rates, cheaper auto insurance and even the apartment of your dreams. Protect it as if it were gold. The easiest way to protect your credit score is by paying all your bills on time. If you need money to make that happen, take out cash advance loans
. These loans ensure your credit score remains high.
Pay your credit cards on time
While you probably can't live without a credit card, you can use it smartly. Every month, pay off the balance on time. Late charges and interest charges quickly add up. Why give your hard-earned money to the credit card company? Instead, pay your bill on time.
Participate in a 401(k)
Most companies offer retirement accounts to their employees. They probably even offer matching funds. Take advantage of this free money. For example, if your company matches up to 3 percent, contribute 3 percent. The combined funds will eventually pay for your retirement and is a smart money move.
Pay less for insurance
Are you paying full-price for auto and home insurance? Combine these two essential policies for huge savings. At least annually, compare different companies. When you find a cheaper rate, ask your current insurance company to match the lower rate or switch companies.
Plan for emergencies
With the money you save by implementing smart money moves, build an emergency fund. When your car breaks down or you need a new washing machine, your emergency fund provides you with the cash you need. Saving even $10 a month builds your emergency fund and gives you peace of mind.
Are you ready to be smart with your money? Stop throwing it away on high interest or expensive insurance. Use cash advance loans to keep your credit score high, take advantage of matching retirement account funds and plan for emergencies. With these tips, you'll prove that you're money smart.