HOW TO IMPROVE YOUR FINANCES WITH SMART DECISIONS?

It might be a daunting task for so many people to save money. Some of don’t realize how all the money gets spent whereas some of them fail to save how much they had thought to. Therefore, it is a topic of serious concern and we at ShubhBank come up with some decisions which can help you save some money. We have listed some smart decisions that will help you to save enough and spend your money diligently.

• Use credit card statements: Your debit card and credit card statements give you the fair idea of all your purchases and expenses. With the help of these statements, you can track all your unnecessary transaction that could have been save you an ample amount of money as well as helps you to maintain your credit score which will further help you to secure a loan in future.. It will help you plan your expenditure well in a long run.

• Auto payments: When it comes to be disciplined in financial matters, many of us would fail the financial test at least once. When it comes to paying a utility bill or an EMI after you "Apply For Loan" some individuals are too lazy to make the payment and some of them forget that they had to before its due date and finally some don’t have enough money to repay it.

The best solution for this problem is to schedule your payments wherever possible. Using an option of net banking, you can schedule most of your payments and even your credit card bill dues and loan EMIs. You can schedule them according to the fixed date of the month and it will be debited automatically. At the end, one need not to worry about defaulting on bill payments and EMIs as the scheduler will do the duty so you can relax.

• Utilize your savings: You must be surprised to know that you can utilize many benefits from your credit cards as these plastic cards come with specific benefits. Some of these perks are related to the travel miles, movies discounts, luxury eating, cash back etc. Hence, when you apply for a new credit card, first check the benefits offered on it and then choose accordingly.

One can also opt for balance transfers. If you come to know that your current bank charges higher rate of interest on given credit card and some other bank is offering lower interest rates, then you can transfer the balance of your "Mortgage Loan" or credit card to it which might help you save the interest amount.

There are so many ways to save money that you can do easily with financial discipline. One has to stay wise by reducing their spending and should pay off their bills on time. Once you are on a right track, you can save an ample amount of money and be prepared for any emergency in the future. You can use your savings as an emergency fund in the times of medical urgency or you can also opt for investments in mutual funds or other saving schemes etc.