Managing your personal finance
In many places, companies and organisations are quickly turning towards electronic billings and payments, often you'll enjoy cost savings by utilizing their online services. They can come in the form of exclusion of things like service charges, mailing costs or even the travel cost you would have otherwise taken so as to pay the bill.
Often, internet banking would have similar perks, usually discarding the usual transaction costs if you should perform these actions online instead of doing them physically at the bank itself.
Later on, one can very well consider refinancing certain elements of their outstanding debts and loans. The general idea involves shifting money locked into high interest loans and debts into lower interest borrowing. This must be done with extreme caution however as careless handling of delicate financial instruments could make everything worse.
Fixed Personal Finances
If you're a careful and conscientious spender, a good way to make your money work that extra mile for you is to seek out ways in which you can find rebates upon your expenditure. It can be found in loyalty cards or more widely in credit cards. Naturally a tight eye on budgeting must occur to prevent excess expenditure. You could compare your projected savings by using a sample expense report to assist you.
It would be great to do some research on cards that would give you rebates on dailies and necessities like for groceries at the supermarket, petrol or even on food, in the form of discount or vouchers and the like. Just figure out the equivalent percentage rebate (like keying it into spreadsheets and finding it out) and then take it as virtual money well earned on top of what you already have.
Managing your personal finance awareness
What you'll need to know are two important things that can help in your life:
1) Understanding the difference between what is a liability and what is an asset
An asset is not something that you have just bought. For example, you just purchased a cushy armchair at a 20% discount, you did not actually purchase an asset at all. Nor did you really save that 20%, unless you had been bound totally to purchase that particular armchair. It is instead a liability, as it has no potential in creating money for you in the future.
In contrast, perhaps you purchased a gumball or vending machine for a price, if you can arrange it such that people refill the machines and you collect the proceeds and cash, and there is a net profit, this would then become an asset for you.
If you run a business, it is a good thing to keep track of the boundaries of what you can do and what you can't, as well as what you need to do like when contracting you would need business law consideration.
2) Tax rebates awareness
Different countries have different priorities when it comes to encouraging their citizens. For some countries facing growth issues, they might have tax rebates for having bigger families, either have more children or taking care of elderly parents. Do some research, and you may well be surprised at how much you can save. Don't get tricked by insidious people who make fraudulent inducements to you.