We have just two days left to complete the money managing rituals. I sincerely hope all of you would have without fail followed the steps. On the sixth day we are going to turn our attention towards emergency fund.

It is quite important to have an emergency fund set up, as you never know what emergency situation might encounter you. When we face such situations, it is not only embarrassing to seek favours from various sources, but it is also quite dangerous not to cat quickly due to lack of money.

Hence by all means once should try and save for those rainy days. Make sure you allot at least 10% of your take home pay towards emergency fund. You cannot compromise on this one. If you could add more to the fund, the better. But if you have more debt piling up, try to clear that off first by paying more debt payments and allotting only a small portion towards emergency fund. Once the debt comes down considerably, you could put more money to the emergency fund.

If you have been doing this much so far without any interruptions, then i assure you that your financial success is guaranteed if you follow the same path throughout.

The possibility of acquiring a decently paid job is quite difficult these days, given the scenario of the recession hit world and whats more difficult is being in a high paid job and maintaining it.

But does your high paying job make you pay more price in terms of losing your quality time with family, leading a stressful life, and inability to do something of your choice in a leisure time?

Then why don’t you consider shifting your job? Do i sound Insane? Well i might but i have my own point to be put across. When you reduce the expenses by adopting to a less expensive life style, you wouldn’t be threatened by the fact that you might have to lose your high paid job. This way your options for a decently paid job would be more, you could turn your hobby into income by investing sometime in a side business and spend your weekend with your family.

Get the picture now? Well give it a thought and share with me  your experiences and decisions.

On day 5 of our attempt to fix our finances in a week, we are going to concentrate on retirement savings. Yes retirement savings is an essential part of financial planning.

There are many tools available online like a retirement savings calculator. Make use of such tools and start saving from today. Even if you are just 25, it better to start saving for your retirement right away. The earlier you start , the saver you would be as far as retirement is considered.

Choose your own method of saving. You might want to opt for a retirement saving plan or just put aside some money in a savings account every month. whatever may be the method, just make sure you save enough for your later years.

On our day 5 thats all we are going to do. With just two days left i am sure if you had followed all the 5 day’s agenda properly, you must be already feeling relieved.

Hope everyone had a wonderful weekend like me. Coming back to work, lets begin our third day ritual on fixing the finance. On the third day, we are going to look into the number of bank accounts we have and how to set up the necessary number of bank accounts.

Take time to analyze if the account you hold in a bank solves your purpose. If you have just a checking account, set up a Savings account and start putting some cash each month into it. An online high yielding savings account is the best option to earn some extra cash.

Make it compulsory to have just 2-3 bank accounts to solve your purpose and not more in order to make your finance simple.

Make use of setting up automatic payment options to pay your bills and debt installments on time. Ask the bank for their time to time offers and make use of them to your benefit.

Isn’t it simple? Yes thats all you need to do for today.

I am a huge fan of  finance blogs and never fail to update myself time and again with what experts have to save. So i thought why not share with my readers 5 blogs i think that would be useful for them to save money?

So here we go

My Good Cents

For those who want to be informed of shopping offers, deals, best buys, coupons and give aways, this blog is just perfect and has a lot to offer.

Simple Dollar Truth

This is one of my most favorite Personal Finance blogs and i simply love their content.

Frugal Dad

This is another favorite personal finance blog with a lot of useful information, interesting and humorous articles.

Lower My Energy Bill

If your looking for ways to save money on your utility bills then this is the right place to see.

Hillbilly Housewife

If you are looking for delicious recipes to be made at a cheap cost then there are many mouthwatering frugal recipes here.

This is my list. What about yours?

It is believed that money is something not to be mentioned in a polite conversation. But this rule doesn’t apply if you’re in a serious relationship with someone.

Talking about money to your significant other is an important part of your relationship, if you are planning for a future together. Here are some things you must remember while talking about money to your partner.

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Are you a beginner in the field of investment and money management? Want to know the basics and improve your knowledge in the field of finance?Then there are few things i recommend.

1

Use the internet wisely. There are various websites that offer abundant information about basics of stocks, bonds, insurance, tax and anything you wnat to know. Make use of it. Reading any of these regularly for atleast 10 minutes a day can increase your knowledge gradually.

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An article in Wired Magazine  mentioned about personal metric devices to improve one’s health like the Nike+ipod kit which could keep track of all the details and the statistics of your capacity to run..For all it measured was the time your foot touched the ground. Now how could that have helped? How could mere statistics help?

Let us be honest. How many of us follow our chores sincerely, or let us say, on a given time when we  are assigned a job ,given a deadline, when we are  getting  no extra incentive for our job, and most important ,when we are  quite sure that there is no one observing us, how many of us do our jobs sincerely?

Well barring just a few I suppose the answer is quite obvious.

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