7 Personal Finance Basics to Tackle Your 'PRESENT' | Finance Site

Are you in debt (like me) as you have severely neglected your finances in past? Are you visiting several websites to read articles on debt relief ? Believe me, by doing this you are just killing your precious time. Extensive reading is, no doubt, a beneficial step. However, it is of no use if you do not take action. Following are 7 basic personal tasks to be done in addition to your extensive reading.

1. Start Clipping Coupons

Extreme Couponing might be harmful; still there are many advantages of coupon clipping. Whether you are collecting through an online coupon site or those, which are coming via mails, are really worth the time.

2. Pay your Bills on Time

Eat less, but pay your bills on time. Like millions of Americans if you do not pay your bills on time, you might have to spend thousands on late fees every year.

3. Max out your 401(k)

Decide how to accelerate your contribution toward your retirement accounts. Max out both you Roth and Traditional IRA.

4. Plan for your Retirement

Have you ever planned for your retirement? Do you know how much you would need for your retirement? If you do not, start calculating today.

5. Make more Money

Find out every possible way to make some extra money each month. We are never satisfied of our earnings. How could we be! Every single day the commodity prices are rising heavily. So, you need to make more money for yourself, your family, your children and for charity.

6. Start Budgeting Today

I know that tracking your spending sucks. But nothing to do. Moreover, without one your financial pillar is going to ruin. If you do not have any budgeting, you will never be able to save more.

7. Avoid Private Medical Institutions

To save some bucks go to the non-profit medical institutions instead of the profitable ones. Believe me, the infrastructure of these non-profit institutions is as good as the profitable ones as the receive government funding.

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