Investing – Page 35 – Rock To Riches

15 Best Credit Card Balance Management Tips

Credit card balance can often be considered a battle. You know you should be able to use credit cards for its advantages, but credit overload can always get in the way. This article will help you know the best credit card balance tips available.

Tip #1 Limit your Credit Cards

There are several types of credit cards you can choose from. One too many can be a cause of too much credit card balance. You should limit the credit cards to suit your needs. Through Facebook marketing, you can view credit card choices and advantages. You will be able to limit your credit cards in a few clicks.

Tip #2 Prioritize PIN Security

It’s important to keep your credit card’s PIN private. You don’t want to complain to your local bank about stolen money and find out your sister went on a shopping spree without you. Keeping track of your balance means keeping your PIN to yourself. It is also advisable to change it at least monthly. The great deals you get when you keep your PIN are:

Knowing how much you spend for yourself
Keeping spending records private
Assessing your responsibility as a card holder
Avoiding scams and fraud

Tip #3 Pay Full to be Free

You should always pay the full amount of credits you owe monthly. Paying full will help you with all of these factors:

Avoid swimming in a pool of balance
Prevent the temptations of getting balance
Maintain good credit card score
Help you look good for emergency loans

Tip #4 Plan to Pay on Time

Paying on time will help you improve your status with credit. It may even ruin bad credit. Managing Facebook Management to keep you notified about your bank online may also be helpful. Your account will give updates on your bank’s availability to address your credit concerns and help you pay on time.

Tip #5 Check Your Bills the Right Way

Did you know there is a right way of checking your bills? Here are quick steps to take in checking bills:

Set a day and time to check your bills
Check your bills weekly and keep it as part of your routine
Be in a calm mind set as you check the bills
Call your bank right away if you don’t recognize a certain payment

Tip #6 Spending Advice

Spend on money and credit you actually have. Overspending or spending on loans will make your balance worse. It would be best to spend your credit wisely and limit leisure to actual money bills. To spend wisely:

Separate your needs and your wants
Use paper bills to pay for your wants
Save up coins for something you want or a vacation
Use credit card loans for emergency purposes
Separate a card for business or health investments

Tip #7 Read Up to Know More

Your bank may email you notifications about your account. Instead of adding it to your spam or instantly trashing it, you read all of your notifications. Banks will not be responsible of possible fraud if you haven’t read the information they send you.

Tip #8 Marketing Tips

Maintaining your balance means you should follow these marketing tips:

Avoid cash advances because it will make your interest rates shoot up
Avoid being tempted by market offers easily
Prioritize low interest rate cards on the market

Tip #9 Avail Advantages

You should use possible credit card rewards. These credit card rewards are handy on weekends off or any holiday occasion. You should avail the advantages your credit card has once in a way before it expires.

Tip #10 Note down Your Expenses

Another great way to manage credit card balance is by writing down your expenses. The benefits of writing down your expenses are:

Pointing out extra payments you don’t need
Having an available record to match to your bank’s record
Having a good idea of your daily expenses
Knowing your investments with your wants and needs
Knowing the profits you have spent with your job or business

Tip #11 Deal with High Rates

If you can’t avoid high rates, you should consider the following measures:

Change to low rates for mortgages
Try out cards with low interest rates
Prioritize the highest rate
Tick off your debts one by one
Change to low rates with your credit card company

Tip #12 Budget for the Month

Work on your priorities to help pay off bad credit. Budget your needs for the month then squeeze in your wants with extra earnings. You may want your budget to look like this:

Pay the rent or mortgages first
Figure out your groceries for the month
Keep in track tuitions to pay
Calculate financial support given to your family
Calculate investments for your health insurance
Invest a small amount for your business opportunities
Pay your bills for your house and car

Tip # 13 Check out Credit Card Qualifications

When needing a credit card or renewing one, you should check your qualifications. These include:

Financial history
List of assets
Paying bills punctually
Income source

Tip #14 Take Credit Card Receipts

When you take your credit card receipts you will be able to have concrete evidence if there was credit taken from you mysteriously. These receipts are important and should not be discarded. You should always ask them from the services you buy from.

Tip #15 Let Your Bank Know

You should let your bank know:

If you have lost your card
Your credit card was stolen
You will move to a new address
You will transfer to a different card

The bank will help you take measures in dealing with these issues and your credit card balance. If your card was taken or lost, they can cancel the PIN number and give you a new one. The bank will also make certain actions so that your bills will be sent at the right place before deadlines. They are the best experts in consulting a transfer to a new card with lower rates.

Credit cards and having a balance can be a tricky balance. Credit cards should be useful because they’re safer and easier to use. To truly benefit from them, you can always look back at these tips to avoid bad credit and a heavy balance. You will find these tips very valuable. You’d want to share them to your friends and even do a little Facebook Marketing on the credit card advice you’ve learned. Remember that credit cards are also a form of loans, and you, as a responsible owner, should know how to pay your dues. These pointers will truly help you in getting your credit card balance cleared.

Kath Martinez, understands the intrinsic attributes of making excellent content that suits the needs of every business especially when it comes online financing. She can conceptualize and implement marketing plans, explores profitable B2B opportunities. Visit us for more Loan services.

*This is a guest post.

Should You Change Your Investment Strategy?

Being in a comfort zone is not an assurance that you will succeed forever. In the same manner, doing the same strategy in your wealth-building all your life will not guarantee that you will achieve your goals.

Why? Because things change. Your relationship status change. From being single you either get married or be in a domestic relationship. If things get worse, you may fall under the category of “It’s Complicated” or “Separated/Divorced”.

Along the way, you may also lose your job, shut down your business, or get near the golden years of your life.

Other than these (or because of these), your financial status change as well. These big life changes will most likely need adjustments on your finances.

Here are some of the most life-changing events that may happen to you sooner or later and are reasons for you to re-align and reboot your investment strategies.

1) You are going to be a father or a mother.

That’s because you will need to consider certain variables such as medications and supplements, medical consultations for mother and child, delivery of your baby, healthcare, crib, diapers, food, nanny services, among others.

In my case, we had to leave the country in order to earn more than what we could back home.

According to iMoney Philippines, in this day and age, raising a child, in the best environment, can cost as much as P500,000 a year. The average income Filipinos will, of course, have to adjust accordingly.

It’s best that you re-calculate your regular investing amount and make sure you add your child and spouse in your list of financial goals.

2) You lost your job or you just want to find a new one.

Anyone’s employment situation will surely change anytime. Everyone should be ready, especially our OFW’s who are living on per contract job stints.

Your investing schedule will definitely need an overhaul should become unemployed. While looking for a new job, make sure to live way below than what you used to.

Also, do not invest your severance pay/end-of-service benefits in high-risk placements such as the stock market. Keep these as part of your emergency cash instead.

Once you found a new lease of life in another company, you may then go back to your normal investing schedule.

Whatever your financial goals are, you should determine whether your previous long term goals have now become medium-term or short-term goals.

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3) Your kids have grown up and you are now alone.

Time will come when your children finally grow into young adults. He or she will go to college and find their dream jobs or settle down on their own.

This may bring smiles on your face but don’t get too confident. You should remember that these are usually the struggling years of a young adult.

You may allow your kids to work while studying but this will never be enough. You may need to take out loans or use up your emergency fund if there are expenses not covered by your investments intended for his or her tuition fees alone.

But always remember, never ever touch the money which is intended for use by you or your spouse during your retirement years just to pay up for your growing child’s school needs.

You can instead help them out find other ways to address these. But not from your retirement fund.

4) You now belong to the S-Gen or the Sandwich Generation.

You may be one of the many Filipinos supporting your aging parents or even your grannies while also taking care of your own children.

If you are currently in this situation, then you are now a lucky member of the Sandwich Generation Club. This is a very crucial time to build more emergency fund. This is a time when cash is really king.

If your aging parents have bank and investment accounts, it’s best that you discuss about these with your other siblings and agree on what to do with these while they are still healthy.

If they have properties under their names, it is now the right time to find out who their estate planner is.

5) You are nearing your golden years.

Your long term goals may have started to close in. Now is also the right time to for you to have some fine-tuning of your investment strategies.

There should be no more close monitoring of the stock prices or currency rates. You may need to slow down and protect yourself from the volatility of the markets and go instead for lesser-risk investment vehicles such as balanced funds or other fixed income instruments.

You may also need to check on the possible benefits that you can get from your insurance packages and SSS or GSIS pension plans.

While keeping track of your money, do not forget that you should also enjoy the rewards of preparing earlier in your life so that you can have the best retirement years possible.

Rock your way to abundance!

#moneyliferocknroll

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Top 5 Reasons Why You Need To Get Health Insurance Even While You’re Young

Most young and active people are very skeptical when it comes to getting health insurance, accident coverage, or life insurance. They will often say: “Why spend on something I don’t need now when I can very well use my money to buy the latest gadget, take a trip to Boracay, or get that fashionable bag showcased recently at the runway?”

While, admittedly, these are some great things to spend your money on, getting health insurance is more an investment rather than an expenditure. Here are our top five (5) reasons why you need to get health insurance while you are still young and healthy.

1) You’ll never know when you will get a critical illness.

You may be young, feeling well and believing that you are healthy right now.

But I’m sure you’ve heard of that relative, or friend, or friend-of-a-friend who had a heart attack, got a stroke, or was diagnosed with cancer in their late-20s or early-30s.

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The hard fact is, even young and active people CAN get a critical illness. It was a reality that actress Camille Prats had to deal with when she got widowed at such a young age (read about her story here or watch her interview here).

You can always think to yourself that “it WON’T happen to me.” Then again, those who got sick at such a young age thought the same thing.

2) “An ounce of prevention is better than a pound of cure.”

You can be exercising, going to the gym regularly, running or jogging every day, attending yoga or pilates classes, joining marathons, and even be into multi-sport disciplines, but you will still need preventive care and check-ups like endoscopies, X-rays, mammograms, etc.

It is always best to identify health problems earlier, when treatments are cheaper and easier. This makes it possible for you or your loved ones to be treated sooner in case you get diagnosed with a critical illness.

In the same manner, getting health insurance is prevention from the financial stress that is related to getting a critical illness. I’m sure you know a relative or friend who got sick and have become worse because they could no longer afford to pay for their hospital bills. Perhaps they had to sell their house or their car. Borrow tons of money. Or perhaps their kids had to stop schooling.

Spare yourself from being another “burden” by getting a health insurance soon.

3) Health Insurance is more than just emergency care.

Uninsured people receive less medical care, preventive care, and follow-up care as well.

Health insurance will not only cover emergency care but also follow-up care like rehab care which is not usually covered by Philhealth or SSS benefits.

Rehab care is very important to get back the full functions of our bodies from before the sickness or accident.

Having health insurance will ensure that you will be able to receive the best care after being confined in a hospital.

4) Investing in health insurance is investing in financial health. And it comes out cheaper too.

We may not realize it but investing in health insurance is investing in our financial health as well.

If you are an investment-savvy and intelligent entrepreneur you will always think about protecting not only your savings and your investments but yourself and your family as well.

It is not enough that you have “ample” cash on hand or in the bank or in your stock market portfolio especially if you are still in the stages of building your financial wealth.

Always remember that a sudden and serious illness can lead to catastrophic costs and financial ruin.

Once you become ill and you don’t have health insurance, your last resort may be to liquidate your financial investments and this will disrupt your quest to achieve your investing goals.

And getting it while young means lower premiums. Coverage becomes more expensive as you start aging and start feeling the aches and pains in your body. Think of it as an “early bird” discount J

5) It’s an investment that will save lives.

Having health insurance will also avoid having any health condition to worsen. What if your family relies heavily on you as the breadwinner?

More than that, living longer enough for your loved ones is more valuable than any other investments or wealth that you can keep and enjoy in this world.

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Health insurance is very important to us and our family’s lives. We may not need it now just because we believe ourselves to be in the best of health, but that is actually the best time to prepare. You do not fix a leaking roof when you are in the middle of a typhoon.

Wondering how to get a health insurance even if you are living away from the city? Check out www.axaion.com.ph and get a basic health insurance plan inside the comforts of your own home and using your computer.

Aside from health insurance AXA iON also offers a selection of Savings, Academic, and Life Exentials.

Rock your way to abundance!

#moneyliferocknroll

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