10 Steps To Improve Your Financial Situation

Written by Gregory Thomas

Here are ten steps you can follow to help improve your personal financial situation and inevitably save more money:

1. Pay Yourself Weekly

This may seem a bit odd, but this is an excellent way to start building a substantial savings. On a weekly basis, pay yourself $25-$50 and immediately put it in a safe place. You can even open a special savings account where this weekly "payday" can by placed to help minimize or eliminate impulsive spending. Think about it this way, if you paid yourself $25 a week, in two years you'll have accumulated $2600 (not including interest)!!! That's almost $3000 from just putting $25 aside every week! Take advantage of this money-saving opportunity. Simple, yet very effective.

2. Don't Shop

For those of you that love to shop, you may find that this is one tip that could save you hundreds, maybe even thousands every year. Start usingrepparttar "Need or Want" strategy. Before you spend a single dollar on anything, ask yourself, "Do I really NEED this item, or do I just WANT it??" You may find that many ofrepparttar 149381 items we purchase, we do so just because it "caught our eye" or it was "an impulse buy" or "my friend boughtrepparttar 149382 same thing". All these excuses just add up to wasteful spending. You can probably get by without another sweater, or a new pair of jeans, so just buy what you absolutely need, and pass on those items that aren't necessities.

3. Use Your Bank's Own ATMs

Some banks will charge you money for using other ATM machines. Even though you will be able to withdraw money using your ATM/debit card from literally any machine, banks will charge you $2 (generally) for using a machine other than theirs, in addition to a standard $1.50 chargerepparttar 149383 machine charges for its use. In other words, if you userepparttar 149384 ATM at your local 7-11 to take out $20, you'll most likely end up paying $3.50 in additional charges! If you do that 5 times a month, you'll lose $17.50 for that month, or $210 per year! What a waste! Try and stick with your own bank's ATMs whenever possible.

4. Track Your Spending

Takerepparttar 149385 time to track your spending habits for one week. Take note of every single dollar you spend, even those sodas and candy bars purchased here and there. This will give you a "birds-eye" view of exactly where your money is being spent, thus allowing you to refine your spending habits to essentially save more money.

5. Lower Credit Card Balances

Another very important tip that many often overlook. Pay off those pesky credit cards as soon as possible because you are losing up to 19% ofrepparttar 149386 total. What a waste of your hard earned money! Keep chopping away atrepparttar 149387 balances until you get to an amount that is reasonable $100-$500 dollars.

6. Use Your Debit Card Instead of Credit Cards

Get inrepparttar 149388 habit of using your debit card instead of your credit cards. Forrepparttar 149389 most part, debit cards are accepted anywhere a credit card is accepted, however as you know, with a debit cardrepparttar 149390 amount is taken directly from your checking account whereas credit card usage is billed at a later date (along with a hefty interest rate).

Why do you need an IBC?

Written by Peter Flowers

Virtually anyone with a net worth can benefit fromrepparttar use of an IBC. Imagine operating your business and personal affairs with 100% confidentiality, with no restrictions on your business or tax penalties on your profits in your chosen jurisdiction. Imagine operating withoutrepparttar 149339 constant fear of law suits or creditors waiting inrepparttar 149340 wings to attack your hard earned profits.

Currently banks automatically report to government agencies onrepparttar 149341 activities of their clients, including you. What's worse, your hard earned savings can now be legally garnished from your bank account by government agencies and creditors who may

believe they have a claim against you. In fact, you stand a 1 in 4 chance of being sued if your net worth exceeds $100,000.

Not a lot of money!

Listed below are some ofrepparttar 149342 benefits of having an IBC:

  • Offshore banking - Hold offshore bank accounts in an IBC name and bank in complete privacy while utilizing tax-free jurisdictions.
  • Hold assets confidentially - Protect what you own. Withrepparttar 149343 ever-increasing chances of litigation being brought against you and your business, don't take any chances; use an IBC to shield your assets. IBC's can protect you from product liability, malpractice suits if you are inrepparttar 149344 medical field, creditors and even divorce proceedings.
  • Hold titles to properties and other physical assets - IBC's can be used to hold real estate, valuable collections, precious metals, and shares of any offshore company of your choice.
  • Preparing for retirement - Take steps to protect your assets for retirement. Place assets into an IBC where no tax is applicable. Make sure your loved ones will gainrepparttar 149345 full benefit of your estate without large death duties consuming their inheritance.

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