One Cent At A Time

A Personal finance blog for saving money and earning more and thus having a better life

Underrated Tips to Improve Your Financial Health

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Improve Financial Health

While everyone wishes they had a perfect financial situation, this is unfortunately rarely the case. In fact, numbers show that well under 50% of Americans have enough in savings to cover even a $1,000 emergency. However, saving money isn’t the only financial issue that people experience. Many spend too much on things they don’t need or simply don’t know where their money goes every month. 

With that in mind, this blog post is going to look at a few underrated tips to improving your financial health and situation.

Avoid Lifestyle Creep

Getting a raise or finally paying off that auto loan is a great feeling. You will have more money coming into your pocket every month, but you need to be smart with it. When many people add extra discretionary income into their pockets, their standard of living also rises. This idea is known as lifestyle creep.

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10 Habits of Financially Stable People

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Just like any other goal, financial success requires the practice of good financial habits. If you want to finally eliminate debt, increase your personal savings, and achieve financial security for yourself and your family, you need to take a good look at your current spending. Assess which ones are truly necessary, and start making changes to the way you budget and spend your money.

10 Habits of Financially Stable Person

To me, being financially stable and having a lot of money are not synonymous. You may have a large income but, it doesn’t always mean you’re financially stable. Financial stability ensures that you are capable enough to hold on to the wealth, even during difficult times. So, irrespective of your financial situation, you should strive to become financially stable and develop the habits of a financially stable person.

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7 Smart Money Moves for Any Age

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When it comes to money, making more of it does not necessarily mean you have more to spend. Even people bringing in six or seven-figure incomes can run into financial problems if they don’t have basic budgeting management skills in place. The way you spend and save money on an everyday basis impacts your overall financial health, both in the short- and long-term.

Not sure where to begin? Take a look at seven ways to get your finances in better shape.

1.    Pay Off High-Interest Items

If you have high-interest credit card debt, now is the time to pay it off (and not rack any more up). In late 2015, the Federal Reserve announced the first rate hike in over a decade. Several more are expected over the next few years and this interest could add up quickly, depending on your balance.

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How to Motivate Yourself to Go Over Your Finances Regularly

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There are two kinds of people, one who manage their finances and the other who do not have any clue about their finances. Even those who manage their finances are not very regular. One excuse – “I have no time to go over my finances, regularly”. In this post, I’ll discuss steps that can help you to get motivated to go over your finances, regularly. Checking on your financial health periodically is an essential aspect of managing your personal finance.

Personal Finance

Are you ever bored with your finances? Honestly, who really wants to review their saving and spending every month (aside from us personal finance nerds that do it weekly, just for fun)? For many, tracking income and expenses is on the same excitement level as paying bills. However, if you go about it the right way, tracking your money can actually be kind of fun for almost anybody.

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4 Ways to Invest $100 or Less

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I am republishing this article with edits to make it more relevant and helpful for my readers. People often struggle to save big money. In that case starting with a little amount not only starts the investing habit but also works like a charm for the future health of their personal finance. Enjoy the post!

4 Ways to Invest $100 or Less

One of the most common excuses from people in their 20’s and 30’s who aren’t investing is the attitude of “I’d love to invest, but I don’t have enough money to get started.” Well, this mindset simply isn’t true. There are plenty of options for investors with small amounts of cash. You’ve simply got to do a little homework to find the best ones that fit your situation.

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Things To Know About Inflation

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One of the most important factors in regards to the financial health of a nation is its currency’s inflation. While most people do know inflation is what happens when goods and services rise in price, their knowledge of the complex and evolving issue usually ends there. To help expand your understanding of inflation, below are a few things you may have not known about it.

US Historical Inflation Rate

As shown in the above picture, US inflation is now historically low. We do not feel the pressure of rising prices, at least not as much as people from other countries face. But we need to be careful and should take steps that can protect our money and wealth during those high inflation days.

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What to Do When Your Finances Go Out of Control

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As much as we don’t like to think about money, or how little there always seems to be, the truth remains: money matters. Even the best-intentioned budgets can quickly spiral out of control if unexpected extra expenses begin to pile up such as car repairs, emergency home improvements, or overdue taxes. It can begin to feel overwhelming, but there are ways to arm yourself so that you don’t feel like you’re losing your grasp on your finances.

What to Do When Your Finances Go Out of Control

If you’re already thinking about how to get a hold on your financial situation or get things back on track, then you’ve already taken a step in the right direction. Facing the problem head on may seem like a difficult thing to do, but ignoring the problem is much worse. Here are a few action items to get you motivated and make you feel more in control.

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