6 Personal Finance Rules to Live By
By Maitland Greer | Manilla.com
Being fiscally responsible means you live by sound money principles that allow you to build a stable future for yourself and your family. An understanding of these basic financial tenants is the first step in achieving financial success.
[More from Manilla.com: How to Cut Back on Spending]
1. Build an emergency fund.
Think of an emergency fund as a security blanket for your finances. You should save up three to six months of your total expenses in an emergency fund to be able to deal with an unforeseen circumstance like job loss, illness, natural disaster or home issue.
2. Protect your family with life insurance.
Life insurance is one of the most important gifts you can give to your loved ones. If you are the breadwinner of your family, your insurance coverage should be five to six times your salary to leave them secure and protected if something happens to you.
[More from Manilla.com: Basic Tips for Financial Tracking & Budgeting]
3. Negotiate.
Whenever it is an option, you should always negotiate. No matter if your buying a new car, landing a new job, purchasing a house or even setting up a new cable account you should always negotiate to ensure that you get the lowest price possible. Don’t feel embarrassed or shy about asking for a deal, perk or discount — your bank account will thank you in the long run. Remember, it never hurts to ask.
To read the entire article from Maitland Greer | Manilla.com
http://finance.yahoo.com/news/6-personal-finance-rules-live-120045930.html
You can't live a perfect day without doing something for someone who will never be able to repay you. -John Wooden
No comments:
Post a Comment