Useful Tips for Managing Your Personal Finances

Interested about learning how to manage finances? Well, you won’t be for long. The contents of this article are going to cover some of the fundamentals on how to manage your finances. Read through it thoroughly and see what you can do, so that you do not have to worry about finances any longer.


Use credit responsibly. Your personal finances will bring you to take on debt at some time. There are some thing you may want, but cannot afford. True enough, a loan or credit card will allow you to have it right now but pay for it later. Yet this is not always a winning formula. Debt is a burden that inhibits your ability to act freely; it can be a form of bondage. So use loans and credit cards sparingly – only when you absolutely need it – or when it offers some great financial benefit to do so, like earning shopping points or other perks that will ultimately save you money. But NEVER, and I repeat NEVER use credit cards and loans when you are not absolutely sure that you’ll have the money to repay the debt when it comes due.

Use Skype for calls. You will find that it is not going to cost you much money and it is going to be much easier than messing around with calling cards. If that is not an option, use your cell phone rather than the hotel phone. You may have to pay more for minutes on your phone but you avoid being overcharged by the hotel.

Stick to a budget. If your expenses are increasing considerably, take a moment to reconsider your renovations. You may have hired the wrong contractor or may be straying away from your original idea. It is easy to get carried away when making changes, but stay focused.

Stay on top of repairs. When it comes to taking care of your home, a little maintenance will go a long way. Avoid waiting until major repairs are needed. Instead, regularly replace filters, pipes, wires and other elements as recommended. This will save you the cost of hiring a professional contractor or repairman to complete a major repair service.

Maintain a savings account. One important goal of your personal finance strategy should be a commitment to saving money to increase your financial security. The earlier you begin to save, the better. Regular deductions from your paycheck can be deposited directly into a savings account at your bank. Even a small amount can make a big difference in the long term.

Consider ditching your landline. If you’re like most people you don’t even use your “regular” phone line to make the bulk of your telephone calls. If you don’t need the landline, get rid of it. This will keep money in your pocket and chances are you won’t even miss the landline.

Create a budget. This will help ensure that you maintain control over your finances. A budget will keep you from overspending or taking out a loan that will be outside your ability to repay. It is your responsibility to take control over your finances, so no excuses – exercise some discipline!

Eliminate “ghost power”. Many electronics consume electrical power when left idle. So by unplugging these electronic devices when they are not in use, you can save a little bit (between 1% and 2%) on your electric bill. Every little bits counts. No need in letting money just evaporate into thin air.

Don’t let bills pile up. Believing that a bill isn’t important because you’d rather take a vacation or rather spend money on a TV is a surefire way to fall behind. Once you begin to fall behind, it’s hard to catch back up. So stay on top of your bills!

Cash in on your hobbies. If one has a hobby such as painting or woodcarving, they can often turn that into an extra stream of revenue. By selling the products of ones hobby in markets or over the internet you can produce money to use however you  see fit. It will also provide a productive outlet for your hobby of choice.

Cash in on your change. This may seems small but can really add up, and could easily become one of the most beneficial things to do. Those pennies can add up to dollars added to your savings account. That’s more financial security for you, so don’t underestimate this tip. Check under those couch cushions, and in your pants to accumulate all of your change. Cash this in at the bank as soon as possible.

Food for thought: Did you know that if you doubled a penny every day for 30 days you’d be a Multi-Millionaire! Things that make you go hmmm…

Recycle and reuse. This can really save you big bucks! Why constantly add to the environmental problems associated with manufacturing and landfills? Anything that can possibly be reused should be reused. It’s not shameful to do this. It is practical and admirable not just from an environmental standpoint but also from a personal finance standpoint.

Congratulations on reading to the end of this article! This shows that you are serious about taking control of your personal finances. So take a break, clear your head and let it all soak in. And as soon as you’re ready, try some of the tips you’ve learned and watch your finances improve. The advice in this article can help you to improve your finances, no matter what financial situation you are currently facing.

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My Grandmother always said: “Money in more than money out equals happiness. Money out more than money in equals unhappiness.” The advice about a budget is particularly helpful as my food bill is higher than I plan to spend. Even if it isn’t there are those things at the back of the vegetable drawer that don’t get eaten. Will start saving pennies and take my own grocery bag…5 cents every time you don’t bring your own bag!


These tips are helpful indeed. I, myself, don’t have a landline. I just use my cell phone or skype for important communication with family especially that I’m abroad. I don’t even use credit cards but only cash whenever I purchase things.

Velonita Chen

Thank you for the article. Now i am more aware to energy saving and saving my energy. Less bill, more safe. I also agree to using debit card rather than credit card in whatever reason because i can somehow measure what i have and what do i need to buy. Yet i also don’t mind on credit but in a very very limited affordable amount.

Faith Marfil

I can truly relate to your tips, they are helpful and realistic. I’m still a student and mostly dependent on my mother but, that doesn’t mean that I should not try to earn my own. Indeed, cashing in my hobbies and doing simple part-time jobs online is what I do so, I can get the things I need. I also value the importance of having a savings account though, the amount is not that big at least I am disciplining myself to save and I know that I have a back-up in case of an emergency.
Thanks for sharing this article!

Jhoanna L.

This article is really helpful for me. 🙂 I’m guilty of those people who do not remove unused plugs as I thought it’s just a small percentage of energy and it will not affect my bill.
I wanted to be more responsible on using my credit card wisely as it’s really tempting to just swipe my card without realizing that I’m already beyond my budget. I agree with you about the tips you gave on using a credit card/loan and work on following the tips you had given.
I forgot to mention the reuse and recycle part, I have a lot of things (clothes, shoes and bag)on my closet that I hadn’t been used for a long time maybe it’s time to reuse those! 😉


Thank you for this, great article about managing finances. It will be a big help for me, now that I think I’m spending too much, I need to work out where I can cut back and start saving.


This is a very helpful reminder that credit cards can really make us spend more than what we need because it’s easy to acquire the items and not paying right away but then it adds up to the bills until you realize that it’s more than your budget.
With regards to creating a budget, it’s just not something that I am good at. However, I have other techniques that help like staying at home as I tend to spend more when going out and keeping my salary at the bank and withdrawing only when needed.
Great blog and keep it up! 🙂

Cesar Ivan Rios Hernandez

Very useful tips to learn how to save up some money that can be used in other important things like travelling or buying things you really need. Some tips that everyone that like saving money can use.


I like every information in this article. I’ve been deep in debt some 2 years ago and I know how it is to be in that situation. This article practically covered everything about debt and how to manage finances. Simply love it.


This is a very helpful article, especially for people who are just starting their way toward financial freedom like me. I think I’ll drop by here often. You got a new reader!

Ramon A

As a rule I do not use credit cards anymore. I prefer debit cards which lets me manage my spending a lot better. This has helped me save and avoid unnecessary expenditures.

Anna Marie

These tips are so on point! Probably, my favorite is staying on top of your repair. I really think this would help a lot since my husband is usually out of town for business and I have to be the one to decide on things like this, especially when it comes to plumbing issues. One day I went home to a flooded kitchen. A day before, I noticed a leak in the sink but I thought it was just minor. I forgot about it because I had to visit my mom’s house. It took me a lot to pay for the cleaning service and plumbers. So sad I couldn’t use my cute, little wooden chair anymore. And yeah, get rid of your landline if you don’t use it that much. Great article!


Thank you for this article. I find it so informative and a great reminder that we should be responsible for our finances. I’ll be taking note of the things you’ve listed in here most especially about unplugging electronic devices when not in use to eliminate ghost power because you’re right it still adds up to the bill and yet we haven’t really used it.

Jackie M

Order: MRC uplifted due to Electricity Charges: 214898

Not only that these tips you will be saving money, it will free your mind from worries about debts, extra fees or extra bills to pay, most of all is eco-friendly. Go save for your own peace of mind and also save Mother Earth!

Frank R.

Good tip about using Skype, I canceled my landline years ago and used Skype instead. Saved me tons of money. My cable company still tries to sell me a VOIP phone but what do I need that for. Too late!


Great Info! Really hope I could start piling up money to start my travelling dream. Will definitely do the eliminate the ghost power and recycle.


Wow thanks for all the helpful tips! I never knew that “ghost power” would actually add up enough to contribute to my power bill. I will definitely be doing some more unplugging from now on! Also, I really like what you say about recycling, it’s not shameful at all! I think lots of people have that attitude about it and don’t want others to know they are re-using and re-purposing things but you’re right…not only does it save you money, it helps save the environment!

Ondria Rodgers

This article reminded me to keep doing the financially smart things I have been doing like saving change, staying on top of bills and recycling. Yet, I am reminded also of how I need to strengthen my weak areas financially like being more committed to saving money. Great article!

Sunjoy Gupta

Brilliant advise of creating a budget and sticking to it; to avoid piling of bills/debt. Also preventive maintenance of household items is more economical. Switching off electricals when not in use and doing away with landline helps save a lot. Personally I use my credit card as charge card and pay off my entire bill eevery month.

Joy Anne Labarite

I do agree with the “Cash in on your hobbies.” Writing has always been my hobby – I do it ever since during my free time. Now, I’m making money out of it. I’m an online article writer and I’m happy how much I’m earning by just doing what I love!

vicky carpena

People must learn how to value their hard earned money, budgeting and spending it wisely for a debt-free living. Budgeting will help us see which portion of our money will be used for a particular expenses and how much is needed to be put in ones savings. In this way we wont struggle where to get money should emergency arise.


Saving change is definitely a good tip to stockpile extra cash. Every day you have loose change to snag on every cash transaction that you make.


I never thought about cashing in on my hobbies! This is a great idea- and would be a great source of some extra money!

Maria Legaspi

Understanding widely on the given useful tips about money management can really be worth read for, as it offers a very economical way of spending money. With that, it is good especially for those who really wanted to save money, as it can be an act of finding the least expensive method of letting one’s money goes in a purposeful way; therefore, stick to proper budgeting.

Aeon Orica

I’m always out and only spend less than half of the day at home but my electric bill’s been a constant headache; and now I know why. I never knew that unplugging any device would make any difference. I thought since it’s turned off, it wouldn’t consume any electricity. Thanks for that tip, I’d definitely be eliminating the ghosts (ghost power) in my apartment.

Sheena Adarayan

This article is very informative. I really need take control of my finances nowadays and this article helps a lot in saving money.

Dave Villamora

This is very helpful and beneficial for me. I’m really struggling on budgeting my finances and I always end up with a single penny before my salary comes. This article really gives me a hint on how to really save up. Credit cards really doesn’t help me a lot. It’s monthly interest is very high like 10% to 20% of what I owed. As a working student, it doesn’t help me coz I always ended up paying more than what I just owe. And also the Cash In on Change, it gives me a hint on saving up my coins. Kudos to the author.

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