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Quicken Community / Forums / Personal Finance Forums / Personal Finance Tips /
6 Personal Finance Tips That Can Improve Your Life
May 22, 2007 03:27 pm

[Kathryn, Quicken]
Quicken Kathryn
Arizona
Total posts: 1645
Voted helpful: 77
Number of years using Quicken: 2 to 5 years
Quicken Premier 2009
Windows XP
Here are six personal finance tips from Shelley Elmblad at About.com:


1) Find out where your money is really going – While this seems basic, it is the cornerstone to much of the advice from professional financial advisors and is the activity that can jumpstart sound spending habits.

Result – Increased awareness about your spending decisions

2) Identify and change at least one reckless spending habit – Most of us know it’s not easy to change behavior – especially ones that provide instant gratification like those daily $4 lattes. But by eliminating or replacing just one –you can save a substantial amount of money.

Result – Better control, understand, and curb impulsive purchases.

3) Pay your bills online – With multiple bills to pay, at different times during the month, it’s hard to keep up. By scheduling payments online, bills get paid in a timely manner and without having to write out individual checks or getting dinged with late fees.

Result – Spend less time paying bills and more time doing things that are important to you.

4) Set up an emergency fund – Sock away money every month to ensure that you are financially prepared in case the unexpected happens. Even a small amount each month can add up to a lot over time.

Result – Peace of mind knowing that you and your loved ones are prepared.

5) Use personal finance software – Using a program like Quicken enables you to see all your finances in one place and truly gain control over your spending habits. You can view and manage multiple accounts, pay bills, prepare for taxes and more.

Result – Organize your life and control your financial well being.

6) Create a budget – Create expense categories that reflect where your money is going, (e.g, rent, groceries, entertainment). Then determine where you can spend less per category – so that you can put that money into savings or investments.

Result – Get out of debt, stay out of debt and start planning for the future.
Quicken Kathryn

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[mojocita]
Minnesota
Total posts: 1
This is a new post #3
of 5 		6 Personal Finance Tips That Can Improve Your Life
Nov 17, 2007 11:21 am 
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This post is about: Quicken Mac 2007
Regarding tracking expenses:
When we go out to restaurants with friends, my husband and I will often pay the total bill and our friends will reimburse us in cash for their portions. This is hard to track in Quicken. Say the total bill is $70, but only $35 was really our expense. We don't deposit the cash we get reimbursed--we will use it for whatever. At this rate, our dining expenses are inaccurately inflated. I make notes in the notes field whenever necessary, but the numbers still aren't right. Any advice?

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  • Tod (Nov 18, 2007 12:11 pm)



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    [Tod]

    Total posts: 3159
    Voted helpful: 37
    Number of years using Quicken: 10+ years
    Quicken Deluxe 2005
    Windows XP
    This is a new post #4
    of 5         		6 Personal Finance Tips That Can Improve Your Life
    Nov 18, 2007 12:11 pm 
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    This post is about: Quicken Mac 2007
    Use a split transaction:  Record the transaction against your credit card as $35 against 'dining out' and $35 against 'Petty cash' substituting appropriate categories as necessary.

    Tod --- Know the calculations before drawing conclusions.

    If you have not done so, please update your profile/preference to indicate Quicken version and computer OS.
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    [remobush]
    New York
    Total posts: 4
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    of 5         		6 Personal Finance Tips That Can Improve Your Life
    Dec 23, 2008 02:18 am 
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    This is a great article

    One thing I would like to add Go green car loan rewards citizens who drive eco friendly and environmentally friendly vehicles by reducing their car loan interest rates up to 0.50% APR. Interest rates on green auto loans are determined according to how green your vehicle is. Lower pollutions, lower emissions and lower use of oil by the car you want to buy, reduces your interest rate accordingly.

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