Let Me Give You Some Personal Finance Advice

Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.

It’s obvious that you are online searching for some personal finance advice. Simply put, you have come to right place.

In this article, I am going to share some tips and strategies that I used to help get me through some very tough times in my life and I feel that my personal finance advice can help you as well.

About the Author: Jake Oliver

Jake Oliver is an internet marketer living just outside of Detroit, MI. He specializes in teaching people blogging, online lead generation, (SEO) search engine optimization, email marketing, online lead generation and more.

Learn more about Jake Oliver and the struggles that he went through and how he fought back to win, you can learn more at:

www.JakeOliverOnline.com
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I am totally with you when you are on the internet searching for personal finance advice. My wife and I went through a horrible time from late 2008 to 20011. Our real estate investment company crashed and we were left with a huge mess.

The key factor fur us was that we got laser focused on what we needed to do to survive during these tough times and then also prepared a plan on how to thrive as we came out of this mess.

I hope this articles inspires you to look at your overall situation and to help you realize that there is a way out. You must take action and be disciplined on a plan that will get you back on the right track.

Times are tough, the economy has beaten us down, so let me give you some personal finance advice to help you go through this rough economic times.

Simple Personal Finance Advice Strategies That Can Help You Win

Obviously you know that the economy has been pretty bad since late 2008. Jobs were lost, lending stopped, the real estate meltdown with foreclosures at all time high, and the list goes on and on.

Regardless of the position you are in, you need to make some changes if you want to get back on track. Whether you are struggling to pay the bills, or you are trying to get out of debt, or you simply want to make some money on the side, you will find these tips and strategies helpful, so just keep on reading.

Try and listen to this personal finance advice and take small steps within your household. I like to stat with some obvious points so that you can begin to see some simple moves that can help get your started to get your finances back in order.

Again, what I am sharing with you was the exact step that I took to help my wife and I get out of our mess.

Personal Finance Advice – Start Small and Then Scale Up

I cannot give you a sound personal finance advice without discussing the problem of buying a car. Many people chase brand new models and end up in debt before their car even has the time to “stretch its legs”. My advice to you is to buy used models. Many people shy away from buying used cars because they are sure they won’t last as long as the new one. But if you pay attention to all the details, you can score a great bargain on a quality used car.

You obviously need transportation and you must have a vehicle in order to work and run your family life. However, if you are in a tough spot right now, the best personal finance advice that I can give you is to sell your new car and buy a low end car. This will allow you to avoid a car payment and will allow you to save money for future emergencies.

This has been a great van and we still have this van as a second vehicle.

Even to this day, we still purchase uses vehicles over buying new because of the large discount you get when purchasing a 2 or 3 year old lease return or something like that.

Where to Start??

Most personal finance blogs will advise you to take good care of your financial records. My opinion is the same and you should listen to them!

The modern age we are living in even allows us to make a digital copy of our most precious documents and store them on a small disc or back up drive.

My Personal Finance Advice

So, my personal finance advice to you would be to scan your documents and upload them to few different places online, just to be safe. Also, you can burn them on several CDs, or put them on your external hard drive(s). Having your information on several different locations will ensure that, if the files on one location get erased, you have a back up.

A sound personal finance advice I can give you is to always make a plan before going on a major shopping trips. It is easy to get carried away during holidays and spend more than you intended to, even more than you are capable of. Before you get out of the house calculate the exact amount of money you are willing to spend!

Try and budget all of your expenses over the course of each month. This will allow you to see how much money you are bringing in and how much money is going out. The key is, is that you must stick to your budget.

Another tip I can mention in this personal finance advice article is to eliminate all unnecessary expenses. Cutting a novelty item or cutting back on your cable options is a great way to cut costs. Trust me, my wife and I eliminate several hundred dollars per month from our expenses just by sitting down and going over what we really needed and what we could eliminate.

Probably the most important personal finance advice that I can give you is to set up a cash emergency fund. This only used for an emergency (car repairs, sick children, accidents, etc.) and it is never touch for anything else.

Whenever you use this emergency fund, you immediately start paying this money back the following week up until you get it back to your comfortable dollar amount. Once you have it paid back, you then can start paying off your debt.

As I always say, keep it simple and prepare yourself for success. If you plan your comeback correctly, you can make it back in no time.

One thing that my wife and I did was we started blogging from home to create additional income. I worked during the day and my wife stayed at home with our children. This blogging business allowed my wife and I have the ability to homeschool our children and we were able to get back on the fast track to success.

I hope some of this information above has helped change your mind set. You need to constantly be on the lookout for more information on personal finance advice that will help get your life back on track. Always continue to educate yourself and know that good things are coming your way….

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