Rewritten Sample 4

Rewritten Sample 4

It is often said that one can earn money easily enough, but retaining that money and making it grow is the difficult part. Here are some tips to get financially savvy and ensure that your money is not frittered away easily.

1. The new electronic gadget is always enticing and draws you like a magnet. For gadget freaks, nothing but the latest is good enough for them. But these come at a cost not only when you buy them, but continue to drain you over the next few months. That is because they depreciate rapidly and with modern technology, obsolescence is the only constant. With the result, the fancy gadget that you purchased for $1000, just six months ago would be worth less than $500 and there may not be many takers, since a revised version of that gadget would have already hit the street. Hence, it is essential not to go overboard with wanting the latest gizmo as soon as it is launched and worthwhile to give it a couple of months before making that spend. You will end up saving precious dollars.

2. Always splurge on assets that appreciate over time and that include real estate, fine art paintings, antiques etc. These items are sure to fetch you more than your purchase price when you do decide to sell them after some time.

3. It is better to inculcate a saving habit. One thumb rule is to put away at least 30% of your earnings into savings. This accumulates to a handy sum and gives you a pleasant surprise over a period of time. Allow the power of compounding to work for you by maintaining discipline in your saving habit and steadfastly committing that 30% of the earning to this kitty.

4. Card companies always want you to have the maximum number of cards and are forever enticing you with attractive offers. It is always advisable to opt for only one card and ensure that the outstanding is settled in full rather than paying in part and having a hefty interest rate levied. Very quickly, you will notice that this builds up to a heavy amount and you will end up paying far more. This is certainly something that can be avoided with some financial discipline.

5. Earlier, I advised you to purchase assets that appreciate. Now I am advising you to put your money into a hedging instrument like gold. This yellow metal will always retain its value and though it may not appreciate, provides a good hedge in these troubled times.

6. Finally, buy only what you require and avoid hoarding. The global economy is thirsty for efficiency and not extravagance.

Original Article
There are a number of ways to be smart with your money. Here are some below:

1. Spend less money on electronics: Generally, electronics are the worst investments. For instance, a computer that you buy for $1000 one year will only be worth $500 the next. A big-screen TV that you pay $2000 for may only cost $700 a couple years down the road.

2. Spend money on things that will maintain some value: You can buy classic furniture. You can collect rare firearms. You can buy land, they aren't making any more of it.

3. Cut back your spending: Even saving only one dollar per day will add up to over $3650 over a decade. Just imagine if you were able to save $10 per day.

4. Only have one credit card and pay off your bill in its entirety each month. Paying finance charges is the same as lighting your money on fire.

5. Invest in gold. Currently most of the world is on the Fiat system. This means that governments are printing money out of thin air. It would be wise to have one's monetary units measured in gold rather than in make-believe money.

6. Buy only what you need. It is said that if people only bought what they needed the world economy would collapse. If you need running shoes to stay in shape buy the minimum pair necessary for your needs at the minimum cost. In the economy is not survival of the fittest but of the most efficient.