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Four Simple Things to Increase Your Income

Sometimes the tools we need to increase our income are right at our fingertips. It is not always necessary to suddenly find a new source of increasing revenue when you can simply be a better steward of the money you already make. Managing your finances in a responsible way does not have to mean cutting out all the fun things in your life. You can easily save money by just paying attention to small details. Read on for some helpful ideas on how to do this.

Realizing where your money goes is one of the most revealing things to most people. We often have developed habits of spending whatever funds are available to us after paying bills, not realizing what we are actually spending it on and how quickly it accumulates. Try keeping a running record of everything you purchase within a month. Continue to do this for three months if you possibly can, then take a look at recurring patterns. Do you eat out way too often, or over spend on cosmetics or sporting accessories? Whatever jumps out as being excessive, reconsider how you spend that money. Try cutting it in half for those particular items and see whether it really bothers you or not.

When you receive your monthly credit card or bank statements, do not just thrust them aside, but go through them line by line. You may be surprised at the things you will catch, from double charges from merchants to unapproved fees from your bank. Watch for things like funds that are held for excessive amounts of time and ask your bank why this is occurring. These things can affect interest-bearing checking or savings accounts, and they also can cause you to have overdrawn accounts if the bank is not clearing items in a timely manner.

Do not carry multiple credit cards with you. This will create a false sense of available funds, which you will be responsible to pay at the end of the month. If you do not have the funds available to pay it in full, you will be charged interest fees which essentially raise the amount of your purchases by multiple percentages. Having extra credit cards can also mean that you are paying multiple annual fees.

Always pay your bills on time in order to avoid late fees and same-day charges for paying online. You do not want to damage your credit and be put into a high-risk category for car loans, credit cards or mortgage fees. You will almost certainly pay more for services if you show a pattern of paying late.

You alone can ensure that your personal finances are in good shape and that you have available funds to live the lifestyle that you choose. Saving more money will benefit you in the immediate days of each month and year, as well as in your future. Take some of the ideas here to make a positive change in your current and future financial life.

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