Money-Managment - Tips on How to Better Money-Management - Wise Investment | Tips on - Find Tips Pay off all debts

Credit-card debts can be difficult to manage because of their high interest rates as compared to other loans or mortgages. Interest is compounded monthly. It is better to revert to old ways of paying off in cash. The motto is “Buy and pay together”. Be alert about the ever changing interest rates and repayment schedule. Make balloon payment whenever possible. Carry the load of EMIs as light as possible.

Keep track of bills

All the utility companies like mobile, electricity, water, cable TV etc. companies charge hefty penalties on late payment of bills. So keep track of bill payment dates. Maintain separate files for the bills. One better way of taking care of these bills is giving online instruction of their payments.

Conserve cash

Prepare a proper budget sheet and check which expenses can be pruned or trimmed.
Keep checking other service providers for better deals. Trim consumption of auto fuel, mobile and electricity wherever possible.

Save on banking costs

Negotiate and get the best deals from your bank on account of interest on deposits. Get benefits on expenses like cheque-book costs, minimum balance, ATM, lockers etc.


Adopt carpools, if possible. This saves both costs and hassles.


Prefer homely foods as compared to lunch available in office canteen if you have to pay for it. It saves on costs as also gives nutritious diet.


Have a drink at home before going out for a dinner. Alcohol often forms the major part of your bill.

Invest wisely

Consult various experts, banks or friends before taking a plunge in a new investment. There are various investment options before an individual like equity, debts, mutual funds, bank deposits, insurance schemes, government bonds etc. invest in either of these instruments after a thorough study through various means like newspaper, web sites or common friends. This way you can minimize your future negative gains if any.

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