When it comes to money matters, we can all bury our heads in the sand every now and then. After all, money is serious business. And serious business can be scary. There’s so much to distract us in the digital age, it’s easier than ever to push our money worries to the back of our mind and turn a blind eye to the state of our finances. However, when it comes to money matters, ignorance is never bliss.
Here we’ll look at some ways in which burying your head in the sand or failing to pay attention to financial matters or personal circumstances can leave you financially worse off.
Your bank and savings accounts
Be honest with yourself, are you one of those people who only checks their bank balance the day after payday? You’re not alone. However, this is a bad habit for a number of reasons. First of all, it can paint an unrealistic picture of our personal finances and cause us to make large purchases and take financial risks which are ultimately misjudged. This inevitably leads to unpleasant surprises.
The same goes for your savings. Do you know how much (if anything) you’re currently paying into your savings? Do you know if there are any other savings accounts out there that could make your money work harder for you? Very often a quick search online for the best savings accounts can help you to get more out of your savings.
Stocks, shares and commodities
When you’ve invested some of your money in stocks, shares and other commodities, it’s tempting to just leave them be and take the highs with the lows. But this attitude can be like betting the farm on a roulette wheel that never stops spinning. Just because shares are a form of passive income does not mean that you shouldn’t be proactive about them. Keep abreast of the markets and do your due diligence on any company whose stock you invest in. Otherwise you could be setting yourself up for a fall!
If you have been injured as a result of someone else’s negligence or malfeasance you owe it to yourself to speak to a personal injury lawyer with a view to making a claim. As unpleasant and distressing as it may be to revisit a traumatic event, burying your head in the sand can keep you from money that you are legally and morally owed.
Don’t forget, there are many different kinds of personal injuries other than vehicle collisions and workplace accidents. Dog bites, medical negligence, injury from defective products and sexual assault are also forms of personal injury.
How long have you been working for your employer? How many times have you taken on extra duties and responsibilities but not been paid any extra for your efforts? Maybe it’s worth petitioning your boss for a raise. Your employer has no legal obligation to give you a raise, sure, but you may be surprised by how accepting they are of the idea. After all, it’d cost them a lot less to give you a raise than it would cost them to replace you.
Finally, as intimidating as facing your debts can be, ignoring them is the most reliable way to see them spiral out of control. Keep moving your credit card debts from one card to another to take advantage of better interest rates. If they’re becoming too difficult to manage, you may want to look into getting a consolidation loan which can make your debts easier to manage, reduce your monthly repayments and even improve your credit rating.
How to raise Money Fast?
When you’re short of cash and can’t save up funds in time, taking out a loan can seem like the most convenient option. However, there are drawbacks to loans – not only do you have to pay back the money, but you’ll often have to pay interest to the lender on top of this. Being accepted for a loan can also be a struggle if you’ve already got debts and a low credit score.
All in all, loans aren’t always an ideal option. But what other ways are there to raise funds fast? Here are just a few alternatives to a conventional loan that most people overlook…
Sell unwanted possessions
Selling things you no longer need can be a great way to raise funds. This could include anything from old clothes to books to electronics – whatever is gathered dust in your home.
There are lots of places to sell these items. Many people sell items online using sites like Amazon, eBay, Gumtree and Facebook. You could also consider selling items to a second hand shop such as a jumble store, a vintage store or an antique shop. Flea markets and yard sales are other popular options.
Items may have to be of a certain condition in order to sell them to certain stores. When selling online, you can sell damaged goods but you’ll need to be honest about the condition. Items like broken electronics and non-working vehicles can sometimes be sold for parts or sold for scrap.
The moral of the story is to stay humble when facing any challenges you may have… If you have a abundance of Money, just enjoy it and thank the Universe for it 🙂
Be safe guys and girls,
Popular posts on Bag of Cents: