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19 Ways to Save Money When it Comes to Your Personal Finance & Home Ownership

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You can save a lot of money when it comes to your personal finances and home ownership, if you know where to look. Do you rent or own a home? Have you refinanced lately? Have you done yourself a favor and done anything to save yourself money when it comes to your personal finances and owning a home? If not, then you really should read this. Check out these ideas, and start saving money! Find out what we can do to stop people from losing their homes to foreclosure.

1. Create good credit for yourself. The first and most important thing to be aware of these days is that it is very important to have good credit, because you are going to need that. It determines your likelihood of getting a home loan, of getting a credit card, and could possibly make a difference in you landing that job or not. So, with this in mind, it is very important to make sure to protect yourself from identity theft. There are a lot of people and groups out there, particularly in other countries, who, with their access to the internet, try to steal people's identities, and then use the stolen identity to borrow money, take out credit cards or purchase items and services, and so forth. If this happens to you, it can all add up to you acquiring a substantial debt and having a horrible credit score, which makes it very difficult to get any kind of a loan. The best way to prevent identity theft, besides being careful with your passwords, changing your passwords regularly, and not giving out important personal information to untrusted individuals and organizations, is to use an identity theft protection service, which monitors your identity for things that shouldn't be there, and calls you if someone tries to get a credit card in your name or borrow money in your name, just to make sure that its you and not someone else using your identity to do that. If someone is trying to use your stolen identity on those types of things, this type of service will put a stop to it right away. An identity theft protection service can help to ensure that your identity stays safe from theft. Sign up today and start protecting your identity immediately.

On the other hand, if you have damaged credit, there are several things you'll need to do. First, you should sign up with a service that works with you to fix your credit. You should also learn how to get your free credit reports from the 3 credit bureaus. You may also want to learn about putting fraud alerts or freezes on your credit file, unless you hire a service to do it for you.

2. Be disciplined with your spending. Another important thing when it comes to your finances is to become more disciplined with your spending, and keep track of it. If you do, you will probably find problem areas where you spend too much and need to cut back. It will motivate you to reduce your spending in those problem areas. Just doing this one thing has the potential of saving you thousands of dollars per year. Products such as Quicken Personal Finance Software can help you better manage your own expenses and create a more manageable budget that can keep you from going into deby and helping you with your problem areas. Programs like Debt-Proof Living will help you to get out of debt.

3. Create a budget and stick to it! You can be even more disciplined in your spending activities by putting a household budget in place, and keep your spending within your budget. This is where discipline becomes even more important. If you say that you only have $200 per month for eating out, movies, and other entertainment, then you need to stay within that limit. Don't lose control and spend $300. This discipline has allowed many people to save more money than they ever thought possible, allowing them to build up savings to the point where they are now independently wealthy, all while making no more than a middle-class income. If you need help sticking to a budget, you should consider getting some kind of budgeting software or using an online budgeting app that allows you to stick within your budget. You may also want to pick up a copy of Managing Your Money for Dummies.

4. Don't put all your eggs in one basket; that is, don't just put all your savings into a single interest-bearing savings account, but consider diversifying your portfolio, finding other ways to invest your wealth and increase your net worth and retirement savings. For example, you could possibly put some of your money into the stock market, a mutual fund, practice venture capitalism, or use some other possible investments opportunities that have a higher rate of return. This will allow you to increase your net worth and retirement savings faster than a mere interest-bearing savings account. You may also want to read some books on the subject of investing to learn all you can about investment.

5. Save by managing your investment portfolio yourself. If and when you decide to diversity your portfolio, using smart divident investing strategies, as well as other investment strategies, you should consider managing your investment portfolio yourself with MarketRiders, which will cost you 50%-80% less than the price of using a professional portfolio manager. All the fees that might be used for hiring a professional investment portfolio manager is money that could go towards further investing by you. Just make sure that you learn all you can about investing, and you can save yourself a lot of money.

6. Do your stock trading online instead of through a broker. If you are thinking of stock trading as a means to increase your net worth, and further diversify your portfolio, you might consider going with an online company, since online stock trading firms leverage lower trading fees than going to professional stock brokers. And, if you are new to stock trading, it would be best for you to learn as much as you can about it by studying the subject, and practicing your skills first by using an online fantasy trading website like Wall Street Survivor to practice your skills before you enter the real market with real money and lose your savings because you didn't know how to properly trade.

7. Sign up for the bi-weekly mortgage payment plan that allows you to pay half of your monthly mortgage payment every two weeks instead making a full payment once a month. By doing this, you end up paying the equivalent of one more monthly payment per year, and pay down your mortgage faster; it usually knocks 6-8 years off of the life of your loan payment schedule. Not only that, but you will end up saving significantly on mortgage interest over the life of your home loan; for many people, it can be upwards of $100,000 saved in interest payments, which is money saved.

If you would like to learn more about paying off your mortgage early, you should consider reading Pay Off Your Mortgage Fast: How to Get Rid of Your Mortgage in Under Five Years and Your Mortgage and How to Pay It off in Five Years : By Someone Who Did It in Three - both of these books can be a great start towards helping you to pay off your mortgage early. You may also consider an alternative method of creating wealth by not paying off your mortgage by reading Untapped Riches: Never Pay Off Your Mortgage -- and Other Surprising Secrets for Building Wealth.

8. Use extra income to help pay down your mortgage. If you receive an increase in your pay at work, use a portion, or perhaps half of that pay rise, as extra money to pay down your mortgage principle. This will help to pay down your mortgage debt faster, and save you thousands of dollars in interest in the long run. Before you know it, you will have a lot more equity in your home than you ever thought you would have, all because you were able to discipline yourself to pay down your debt with your extra income rather than increasing your spending.

9. Use money returned by the mortgage lender at the end of the year to help pay down your mortgage. Sometimes, when you have a mortgage, with the property taxes and homeowner's insurance built into the monthly payment, you will find that sometimes the property tax rate or homeowner's insurance premium goes down for one reason or another. At other times, the monthly payment that you are required to pay to your mortgage lender goes down because they discover that you need to pay less each month to pay off the mortgage by the end of the term. In all these cases, the extra money that you paid each month to the mortgage lender to pay for the property taxes, homeowner's insurance premiums, or mortgage principle, will end up being sent back to you at the end of the year through a check from the lender. If you do receive one of these checks from your mortgage lender, you might consider sending that money right back to your mortgage company to further pay down your principle, helping to reduce your mortgage amount that much more, and helping to reduce the amount of interest that you end up paying to the lender on the back end. This approach can save you thousands of dollars in interest payments.

You might also consider reading: How To Crack The Mortgage Code: Discover The 19 Greatest Secrets To Pay Off Your Mortgage Fast And Save Hundreds Of Thousands Of Dollars Now.

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