Frugaling

Save more, live well, give generously

  • Home
  • Start Here
  • Popular
    • Archives
  • Recommended
  • Contact
  • Save Money
    • Lifestyle Downgrade
    • Save Money with Mindfulness
    • Save at Starbucks
    • Psychological Trick To Reduce Your Online Shopping
    • Best Freebies
  • Minimalism
    • 8 TED Talks To Become A Minimalist
    • We Rent This Life
    • Everything Must Go
    • Lifestyle Downgrade
    • The Purchase Paradox: Wanting, Until You Own It
    • Nothing In My Pockets
  • Social Justice
    • Destroy The 40-Hour Workweek
    • Too Poor To Protest: Income Inequality
    • The New Rich: How $250k A Year Became Middle Class
    • Hunter Gatherers vs. 21st Century Desk-sitters
  • Make Money
    • Make $10k in 10 Months
    • Monetize Your Blog
    • Side Hustle for Serious Cash
  • Loans
    • 5 Rules To Follow Before Accepting Student Loans
    • Would You Marry Me?
    • Should I Have a Credit Card If I’m In Debt?
    • $50k in Scholarships in 70 Minutes

Archives for May 2017

3 Lessons to Improve Your Financial Outlook Today

By Frugaling 2 Comments

Share This:

3 Lessons to Improve Your Financial Outlook Today
Credit

A person’s financial concerns grow more complex with age, presenting unfamiliar circumstances, again and again.  And as credit relationships, financial commitments, and other money matters take center stage, so do related responsibilities.  Managing the scope of your personal financial affairs is a substantial lifelong pursuit, with your monetary health and security hanging in the balance.

If you are like most personal money managers, there is always room for household financial improvement, finding better ways to account for your money habits.  From day to day savings, such as frugal grocery shopping, to big-picture money mastery, setting the stage for comfortable retirement; your personal financial success relies on a balanced approach, based on proven finance practices.

 

Each person encounters unique financial concerns, but there are fundamental moves to be made, benefitting most money managers.  If you are looking for better accountability or need budget improvements, consider these universal measures, before addressing the particulars of your financial situation.

Time is Money

 

In order to make the most of your resources, you must find adequate compensation for your time.  That’s not to say the meter is always running, but if you consistently run out of time before you’ve earned enough money to cover household needs; poor time management and weak compensation might be contributing causes.

 

When income doesn’t measure-up to household spending requirements, boosting earnings can help close the monetary gap.  Spending restraint and other discipline can of course lower your overall burden, but when cutting costs isn’t enough, pumping up your take home pay erases shortfalls.  You might be able to make more money with your current employer, by expanding your credentials or earning specialized understanding in a particular aspect of your field.

 

Does technology represent the future for your line of work?  If so, learning a new program or implementation can help boost income.  In fact, becoming your organization’s “expert” on any work-related subject can only help advance your earning potential.  Does your company offer education funding?  Take advantage of these and other opportunities to get certified or earn credentials, which can raise your pay grade.

Balance is Essential

 

With so many financial obligations placing demands on your personal cash flow, it is natural to experience peaks and valleys within your individual economy.  For the most part, however, finding and maintaining financial balance leads to long-term stability and prosperity.

 

Balancing your personal finances is a matter of offsetting debts and spending with personal earnings and other income streams.  Ideally, your individual household economy carries enough cash flow to cover routine spending, with money left over for special purchases, savings, retirement investments, and other extraordinary financial demands.  If you haven’t recently evaluated your spending and income, a close look may uncover imbalance.  For the best results restoring equilibrium, track spending and make adjustments, laying-down strict limits in each spending category.

Debt Can Drag You Down

 

A proactive approach to money management gives you the best chance of achieving your financial goals and establishing a secure future.  Unfortunately, it can be hard to push ahead with excessive debt dragging you down.

 

Borrowing money enables families to buy homes, cars and other big-ticket items, which would be hard to acquire without generous levels of financing.  Subsequent debt, when manageable, is a natural and expected part of your financial picture.  But when the burden interferes with other aspects of your financial life, it is time for corrective action.

Immediately paying-off excessive debt is the most lasting solution to burgeoning balances, but incoming resources don’t always allow for it.  Intermediary moves can help ease the pressure and get you back on track.  For example, you may be able to make debt more affordable, using sites like readies to explore financing options.  By refinancing your outstanding balances with a personal loan or consolidation loan, you may be able to reduce monthly payments to affordable levels, as you catch up with payback.  And by freezing credit card use in the meantime, you’ll avoid spinning your wheels, by adding new charges.

 

Improving your overall financial health can make it easier to meet monthly payment obligations and plan for your financial future.  Get started today, by reducing personal debt, balancing your budget and accounting for your time.

 

Filed Under: Money Tagged With: money, time

What is the Innovative Finance ISA?

By Frugaling Leave a Comment

Share This:

You are probably already familiar with the traditional Individual Savings Account, or ISA, that allows you to save up to £20,000 TAX FREE for the 2017/2018 financial year.
ISA allowances are usually going up or remaining the same, so this is a great opportunity to grow a nest egg without paying any taxes.
Up until now, you had two options, the cash ISA, where you would usually get good interest rates for the first year, and then have to move it to another provider, and the stock and shares ISA.
In the context of tax free saving, it made more sense to get your stocks and shares away from the taxman, rather than a 1% saving account.
Now, a new category of ISA is available. It is called the Innovative Finance ISA, of IFISA, and allows you to put your peer-to-peer lending investments in a safe tax free scheme.
You can invest all of your 2017/2018 allowance into the IFISA, and you can also use the capital you have in cash or stock and shares ISA from previous tax years and transfer it into an IFISA.
Find out more about Innovative Finance ISAs with that infographic, courtesy of Lending Works.

ISA_Infographic (1)

Filed Under: Money Tagged With: Finance

Follow

  • Facebook
  • Google+
  • Pinterest
  • RSS
  • Twitter

Subscribe

Best Of

  • The New Rich: How $250k A Year Became Middle Class
    The New Rich: How $250k A Year Became Middle Class
  • 8 TED Talks That Will Inspire You To Become A Minimalist
    8 TED Talks That Will Inspire You To Become A Minimalist
  • 5 Tricks To Save Money At Starbucks (Updated)
    5 Tricks To Save Money At Starbucks (Updated)
  • Going Green Is A Scam
    Going Green Is A Scam
  • Mark Cuban's Horrific Student Loan Debt "Solution"
    Mark Cuban's Horrific Student Loan Debt "Solution"
  • The Real Reason Poor People Can’t Save
    The Real Reason Poor People Can’t Save

Recent Posts

  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby
  • 4 Ways to Save Money on Streaming Services
  • 5 Ways to Save Thousands in Mortgage Interest
  • Why Professional Maintenance on Your Vehicle Saves You Money in the Long Run

Search

Archives

  • January 2023 (1)
  • March 2022 (3)
  • February 2022 (2)
  • November 2021 (1)
  • October 2021 (2)
  • August 2021 (4)
  • July 2021 (5)
  • June 2021 (3)
  • May 2021 (2)
  • January 2021 (2)
  • December 2020 (2)
  • October 2020 (2)
  • September 2020 (1)
  • August 2020 (3)
  • June 2020 (1)
  • May 2020 (2)
  • April 2020 (1)
  • February 2020 (2)
  • January 2020 (1)
  • December 2019 (1)
  • November 2019 (5)
  • September 2019 (4)
  • August 2019 (1)
  • June 2019 (1)
  • May 2019 (1)
  • April 2019 (1)
  • March 2019 (3)
  • February 2019 (1)
  • January 2019 (3)
  • December 2018 (1)
  • September 2018 (2)
  • July 2018 (1)
  • June 2018 (2)
  • May 2018 (1)
  • April 2018 (5)
  • March 2018 (6)
  • February 2018 (4)
  • January 2018 (1)
  • December 2017 (10)
  • November 2017 (3)
  • July 2017 (2)
  • June 2017 (5)
  • May 2017 (2)
  • April 2017 (8)
  • March 2017 (4)
  • February 2017 (3)
  • January 2017 (2)
  • December 2016 (2)
  • November 2016 (4)
  • October 2016 (2)
  • September 2016 (1)
  • August 2016 (4)
  • July 2016 (1)
  • June 2016 (3)
  • May 2016 (3)
  • April 2016 (4)
  • March 2016 (5)
  • February 2016 (2)
  • January 2016 (2)
  • December 2015 (3)
  • November 2015 (5)
  • October 2015 (5)
  • September 2015 (4)
  • August 2015 (6)
  • July 2015 (8)
  • June 2015 (6)
  • May 2015 (14)
  • April 2015 (14)
  • March 2015 (13)
  • February 2015 (12)
  • January 2015 (15)
  • December 2014 (10)
  • November 2014 (5)
  • October 2014 (6)
  • September 2014 (7)
  • August 2014 (12)
  • July 2014 (11)
  • June 2014 (12)
  • May 2014 (16)
  • April 2014 (13)
  • March 2014 (13)
  • February 2014 (9)
  • January 2014 (20)
  • December 2013 (9)
  • November 2013 (18)
  • October 2013 (15)
  • September 2013 (11)
  • August 2013 (11)
  • July 2013 (27)
  • June 2013 (18)
  • May 2013 (16)

Best Of

  • The New Rich: How $250k A Year Became Middle Class
  • 8 TED Talks That Will Inspire You To Become A Minimalist
  • 5 Tricks To Save Money At Starbucks (Updated)

Recent Posts

  • How to Pay Off Medical Debt
  • 5 Ways to Save Money Before a New Baby
  • 4 Ways to Save Money on Streaming Services

Follow

  • Facebook
  • Google+
  • RSS
  • Twitter

Copyright © 2023 · Modern Studio Pro Theme on Genesis Framework · WordPress · Log in