Top 10 Personal Finance Tips for 2013

Another year is upon us and many people are looking to make some real change in their financial plans this year as well as meet and exceed their financial goals.  If that’s you we’d like to offer you our Top 10 list of the best Personal Finance Tips that we know.  Read them and use them and we guarantee that you will profit by them this year and in the future as well.  If you resolve to do them the results, and the financial gains, will definitely be worth the effort we promise.

  • Since its January the 1st Tip that we have is to increase your 401(k) contribution by at least 1% right now and keep doing that every year into the future.  It can and will make a long term difference in your retirement savings account.
  • Next is to take out a magnifying glass and go over your bank statement with a fine-toothed comb to make sure that you’re not letting your bank take your money for services that you don’t even use.  Banks love to do that so make sure yours isn’t and, if it is, change services or change banks.
  • Diversify your portfolio. You should be doing this every year anyway but, since it’s January, there’s no better time than now.  Keep an eye on it to make changes if significant events happen also.
  • Review your finances and your financial status to see where you ‘really’ are financially.  Nothing puts your goals more in perspective that to know exactly where you stand.
  • Keep those $5.00 bills.  If you have a $5 bill in your pocket put it in a can, a jar or whatever but do not spend it.  At the end of the year the average person will have saved $1000.00 just by doing this.
  • Did you get a raise this year?  If yes, take half of it and put it towards your retirement account. You won’t miss it now but you’ll be glad to have it then.
  • With every small purchase ask yourself  2 questions; do I really need this and can I do it more cheaply at home? If you said no to the 1st and yes to the 2nd question you should leave that product at the store and make it at home yourself.  The savings can be substantial.
  • Eat now to save later.  The fact is, most of us eat very poorly and, in the years to come, that will affect our health and out money.  Eating correctly NOW will cut down on both of those risks.
  • Did you get an inheritance or large amount of cash last year?  Put it in savings. ‘Nuff said.
  • Finally, make an effort to not spend in 2013.  Many people make a huge effort to ‘save money’ on things but if you actually don’t buy anything that you really, truly don’t need the savings potential could be huge.

Use these Tips, take them to heart and in 2013 your personal finances should stay peachy all year long and you’ll meet those goals at the end of the year.

 

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