Living in the City

Now that I am aging, I understand that having some savings in the bank is not and is never enough. Way, way back I should set aside money in several safe places where it should be earning well above my one, single savings account. If you have the chance now to do what I had failed to do, these are the things you should probably be thinking now according to some money related readings I came across: 1. Think about becoming an investor . This is really a difficult decision to make but you can make time to study, consult, confer with professionals, ask around from those who's been there. They say that it is really common sense and a commitment to deliberately know facts and fallacies about handling money. 2. Becoming an investor means that you have enough funds stashed away equivalent to 6-9 months worth of living expenses in savings. This will provide a temporary protection against a financial setback, an illness, or losing a a job and would serve as the liquid or cash resources ...

In today’s almost recession-like living conditions, people are seldom able to escape a debt ridden lifestyle. It doesn’t help that oil prices have astoundingly gone up, everything is running into dizzying speeds - gas is skyrocketing, prescription drugs are up, cash is slow, interest rates are up. Time for debt management. I must admit that my own family’s financial struggles have been brought about by many unwise money decisions. We handled our finances recklessly. Fact is, our overindulgent use of credit resources have almost led us to bankruptcy. Our lessons were learned the hard way. We managed to stay afloat by employing certain lifestyle changes. First stop is reduce the use of credit. From three credit cards it was cut down to just one. Less temptation, less unprogrammed purchases. Remember, cards have credit limits. Less cards, less limits. We also learned to use online payment systems regularly so we save on transportation costs. Instead of going to the bank, we ha...