The Advantages of Saving Money

The ability to save for all the things you need will put you in a much better financial situation in the long-term. It will mean you pay less for whatever you are buying and places you in a less stressful situation. Mind you some borrowers just don’t care that they are in debt as long as they are able to pay it back.

The crunch comes when there is a job loss or some health issue arises and there is no money in the kitty to pay the bills.

A person who has set up their finances properly will factor in these types of emergencies in making their financial plan.

Saving money is a no-brainer; here are the five main reasons for not borrowing.

1 NO DEBT

Borrowing money for the things you need or want puts you in debt. It means that you are indebted to someone else. Sooner or later it all has to be paid back along with the interest. The debt is not going away until it is paid off so there is no point in burying your head in the sand if you are indebted to your creditors. Creditors have every right to expect repayment of their money whether they are the bank or other lending institution or a family member.

2 COST OF BORROWING

There is a cost attached to borrowing money and that cost is interest which is sometimes referred to as “Dead Money.” Paying interest on the stuff you buy on credit adds to the cost of the item. The habit of purchasing goods on credit adds up to a massive amount over the course of your lifetime. That interest money could have been used to build a nest egg. Commercial debt is the worst type of credit spending because the item which has been bought on credit loses its value as time goes by. Another name for commercial debt is dumb debt.

3 READY MONEY FOR EMERGENCIES

Emergencies crop up from time to time. The car breaks down, the washing machine needs repairing, you suffer a tooth ache and need to go to the dentist, you need a new pair of spectacles. There could be anyone for a number of reasons for financial emergency. If you have money set aside for these then you can tend to these emergencies without worrying about whether you have the money to pay for them. Every responsible person has an emergency fund on hand to cushion them against financial shocks which can occur from time to time.

4 A NEST EGG FOR THE FUTURE

Saving money means you are able to build up a nest egg for the future. If you are a responsible person you will have a retirement scheme of some kind where a portion of your pay goes into the fund. In New Zealand it is called Kiwisaver. I can not stress enough how important it is to be enrolled in Kiwisaver if you are from New Zealand. The government incentives make this scheme a no-brainer. Your country will have its own scheme with it’s benefits.

5 TAKE ADVANTAGE OF SPECIALS

If you have no money then you will not be able to take advantage of specials. That does not mean you should spend money on something for no other reason than it is special. Your own common sense and self-control should be employed here.

6 A DOLLAR SAVED IS A DOLLAR MADE

There is a saying that a dollar saved is a dollar made. The truth is a dollar saved is better than a dollar made because you do not pay tax on a dollar saved which is not the case when you make a dollar. Every dollar which you save can be working hard for you in whatever investment you place it in.

A competent money manager will not have any room in their vocabulary for such words as debt, credit, credit card, loan, lay-by, or hire purchase. In fact these are all dirty words to the person who wants to get financially ahead.

Having said all of this, there can be times when borrowing money can be worthwhile.

But…

And it is very big but.

You have to be absolutely sure that the payoff is worth your while.

Take a student loan for example; You need to be absolutely sure that the type of job which the course qualifications assist you with is something that you really want to do, otherwise the whole course will be a waste of time and money.

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The Ultimate Guide to

Where To Find A Wetsuit For This Fall

During the fall, there are numerous recreational activities that take place. With the season approaching, there is need to ensure one is fully equipped to enjoy the best experiences. Among the important acquisitions for this event include the wetsuits that should be sought before hand. These are specially designed clothing to use in the waters. Of importance is to ensure that an ideal source for the wetsuits. From the source, one need to seek out for the following features.

One of the important considerations is the quality of products on offer. With the right quality of the products, it means the sought product will have capacity to offer with the desired range of protection. The clothes in this respect should be properly insulated to serve the need at hand. Materials used in its production therefore need to be of the best and high quality to have capacity to serve this prevalent need.

Activities undertaken in the water pose the risk of getting the clothes soggy and this may happen in the event the choice of the wetsuit is not fitting to the body. The select source in this respect therefore needs to offer with a wide range of sizes to cater for varying needs of different persons. When seeking to take part in water sporting activities and therefore offer them with a fitting choice for each individual whether a member of the family or the team.

Each individual person has a variation in the taste and preference. This also comes in making choice for the wetsuit to buy and therefore it need to be met accordingly. The choices available in certain instances may require to feature certain aspects that the buyer believes should be involved in the items they acquire. In this respect, the select source should offer with custom options for the wetsuits. The deals serve ones taste therefore from the platform on which the custom choices are created for this purpose.

Cost is an important consideration when seeking for a wetsuit. While it is important to have one, cost factors may come as limitation to get the desirable choice. The select source in this regard should offer with affordable choices of the wetsuits. The best source in this respect need also to offer with discounted options for this quest. This helps to create resources to use on other needs from the savings made.

Dealers offering with wetsuits are numerous. Of importance is to ensure that research is undertaken to pick the best offers. This may entail among other things seeking for quotes on the desired choices. The quotes offer a platform for price comparisons. Cost factors however should not come as compromise to the quality of the wetsuit to source.

Study: My Understanding of

– Getting Started & Next Steps

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