Dear readers,
Ok, so the title may have appeared very catchy to most of you out there just like it appeared to me when i logged on to my yahoo home page this morning. " Ways to stop wasting money"
URL: http://finance.yahoo.com/banking-budgeting/article/110199/10-expenses-you-dont-need?mod=bb-budgeting
Of course it sounds interesting, we all need more money and we need to limit our expenses so we can have more money in the long run. As a matter of fact, though people may not accept it, everyone lives for money these days.
Teens usually are the troubled people on earth who usually suffer major financial crises all the time, I mean seriously, how long do the parents think the 2,000 or the 3,000 PKR are going to last? Maybe the first 10 days or 15 of the month, but that’s it! So yeah we all need techniques to save money, and like any teenager i opened the link.
Firstly, the writer here talks about bank fees, honestly though, most of the teens don't even have bank accounts and the ones who do are supervised until the age of 18 (till they are legal to hold a CNIC), and the ones who are over 18 and have their bank accounts are quite happy to have one because it helps save a lot of money. The author here states "Don't pay money just to manage your money. You can take easy steps to avoid these fees" well true indeed, keep a check on your balance and do not let it come below the minimum balance requirement. Know where the ATMs of your bank are located, and if you don't know, refer to your flashy, trendy cellphones and for once put the GPRS to some good use.
Coming to the part where the author talks about "Basic Investing Advice", the author has advised "By all means, get an excellent estate planner or an accountant when it's time to think about taxes and bequests. But you don't need help for everything" but I suggest you get yourself a National Savings Certificate, because it is safe and generates you a good profit every 6 months.
Next the author talks about "Help Applying for Financial Aid" where he/she mentions getting student loans via FAFSA, unfortunately this doesn't apply here in our part of the country and we have to rely upon need based and merit based scholarships. A few universities will put the names of "need based scholars" on the notice boards of the university and for this very reason many students will not even apply for the need based scholarships no matter how bad do they need it.
Next the author talks about pet care, from personal experience, I'd say the only thing which can lead to a MAJOR financial crises is Cat Food/ Dog Food. My God the amount of food these creatures can eat is unbelievable. Anyhow coming back to the article, yes pet sitting is a huge business these days. Though sadly this isn't applicable in Pakistan or else at least I would have been making some good money.
I say insurance is a good thing, it provides a little security for cars and businesses but I still say you should not completely relay upon it.
Credit reports; I completely agree with the writer on how easily you can be fooled to enroll yourself into expensive credit monitoring programs, so yes, beware of that. Talking of warranties, I say they work just fine for me, and I've never been into a situation where I really need to claim warranty. Buy reliable products. I'd like to quote what my mom says" a cheap product would cry every now and then but an expensive reliable product would cry only once, and that too when it is through its life."
Free shipping doesn't really apply here and as far as water is concerned, buy water from a general store rather than paying more than double the amount of money for the same bottle at a big flashy restaurant.
Thats it for not , stay put for the next blog.
Love,
Anam
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