Posts Tagged ‘Investment funds’

Spending. In the consumer-focused Western world, this has become a leisure activity as well as a necessity. Think of the last time you brought something, did you really want it, or even need it? Did you just purchase it because you felt the urge to consume? We have all done it, and I don’t exclude myself, even if there is a less expensive method of buying a product such as laoning and ripping a CD from a friend or buying it online, many of us will opt for the more satisfying process of physically taking it up to the counter in retail outlet and paying cash for it. Scientific research shows that the act of exchanging cash for physical items facilities the production of endorphins in the brain, feel good hormones that reward you for doing something assocaited with happiness or status.

Of course this is harmless in small doses but when taken to extremes as so many of us tend to do, over spending on superfluous goods and services and ruin our lives. It may start off with one credit card which you may use to purchase goods when you are short of funds. This gets used more and more frequently and you end with a host of various different bits of plastic, constantly moving your debts around as you struggle to pay the interest let alone the debt itself. My number one tip for keeping reigns on your finances has to be; do not under any circumstances get a credit card.

Not having that dreaded piece of plastic will stop you spending credit you don’t have, which, whatever way you view it, is a recipe for disaster. Store cards are another unnecessary evil to avoid, these work differently to credit cards but still tempt you to spend money that isn’t yours. If you want (yes that’s want, not need) something, save up for it. Chances are once you’ve saved your money you won’t want to spend it. Search through all your standing orders and cut out the ridiculous drains on your bank account, I recently found I was paying ludicrous amounts of money for such things as TV insurance; money down the drain.

Look into other ways of getting the most out of your money, savings are largely worthless in this climate due to poor interest rates. There are many methods by which you can use your money wisely and make it work for you. Investment funds, financial spread betting and forex trading are innovative ways to make extra cash, the only pitfalls being that they are time intensive practices and require a fair bit of financial knowledge.