Taking care of your financial health is very important. Not only does it allow you to enjoy the finer things in life, but it also helps ensure that you are in good mental and physical shape. Just ask anyone who struggles to pay his or her monthly bills or is uncertain where their next pay check is coming from. It is incredibly stressful not knowing if the bills can be paid, and that stress can often translate into poor general health and cause relationship problems.
But, smart spenders don’t buy things they can’t afford. And when they do purchase something, they make sure it’s the best deal they can get. Negotiating for discount in person or shopping around on the web for the best online deals are obvious ways to ensure you get the best price.
But timing your purchases is critical too. I know of people who buy Christmas cards and most of their presents in the January sales at hugely discounted prices! Buying when everyone else isn’t is also a very smart way to make purchases, as buyers can often dictate their own price, or at least a very impressive discount!
Smart spenders also avoid expensive financial traps into which their reckless counterparts often fall. For example, they will pay for most of their day-to-day purchases with debit cards or cash. And, if they ever use credit cards, they will pay off the balance every month to avoid paying punitive interest fees.
So, not only does the way you spend help ensure financial security, but it also means that spare cash generated by not paying interest bills can be invested – converting a smart spender into a smart saver. However, with the base rate at an historic low, rewarding rates on saving accounts are few and far between, so smart savers must also do their research using comparison websites and pouring over financial blogs to locate the best deals!