Free money is a myth and in this economy money management becomes all the more important.
In modern times, the importance of money is greatly felt and more often pinched during crunch times.
Recession was a decisive factor that made people reevaluate their spending culture.
Ultimately the need for opulence can only be fulfilled through rigorous savings and self control.
The need of the hour is to clench that dime in your fist and not let go.
It is a noted fact that the wealthiest persons are the biggest misers of all times.
Apart from a bad economy that's ruining investment options; the number of dubious scams operating in the markets is having a domino effect on sincere hard working people.
It is highly necessary to hold on to your money and tuck it safe.
Guidelines for Holding on to Your Money • Wallet/Purse: Keep minimal real time cash in your wallet and more of plastic money.
This ensures less of cash spend and also eliminates the risk of losing huge amount of money if you get mugged or lose your wallet.
You can block your cards on just one phone call making the cards useless for thieves.
Write 'Check ID' behind your cards, to make sure vendors to ask for identification each time your card is about to be swiped.
This also greatly reduces the chances for strangers to use your card in your absence thus ensuring you to hold on to your money.
• Investment options: Play it safe, even though you would earn less benefits on your returns, it entitles your money to be secure.
You can utilize a part of your money for high end investment options and in this way you safeguard a major portion allowing market risk to only affect a minimal part of your investment.
Don't fall prey to the extra quick money making schemes as there is a significant chance of it being a scam.
Always reason it out with yourself, if these people had such quick money making techniques why aren't they leading the Fortune 500 companies? After all it's the slow and steady who always wins the race.
• Shopping: Self control and learning to organize your priorities would better enable you to wisely spend your hard earned money on things that are essential and mandatory.
It does not mean you lead a mechanical life and end up buying things that are bare essential.
You should learn to evaluate your savings and should be able to cut your costs by going for products having more discounts and offers or stores where you might have better bargaining avenues.
• Lending & Borrowing: Completely avoid unnecessary borrowing as there are higher chances for you to return it at your crucial times.
Also unwarranted borrowing decreases your opportunity of getting cash during the time of crisis and emergencies.
Lending in today's time is like committing a sin, evade it unless it is for someone who belongs in your circle of trust.
• Unclaimed cash: There is a definite chance that there is unclaimed cash on your name.
You can get access to this information from http://www.
cashunclaimed.
com.
It feels like a dream to retrieve money that never existed in your life.
Always remember any money is handy money.
So keeps an eye for unclaimed money lying on your name.
If these guidelines are brought into effect you will not only hold on to your money but would end up amassing more than you ever imagined.