Financial Smarts as Important as Ever

Inv&ALM Unit 11 Slide 9For consumers and business owners alike, being financially savvy takes on a whole new meaning when times are challenging. While some people these days are doing just fine financially, many others are living from paycheck to paycheck, wondering if they will be financially above ground even just a month or two from now.

With that in mind, where are you these days financially?

Whether you run your own small business or work for someone else, how smart are you when it comes to your own finances? Would you rate yourself good, average or flat out bad when it comes to managing your money?

Take Credit When You Are in the Black

If you are on top of your financial game these days, take a moment to credit yourself. For many people, the news is not so good, with a large number of consumers trying to battle their way out of debt.

While debt can come for myriad of reasons (student loans, unemployment, medical issues, divorce, businesses going under etc.), there are ways to lessen the chances of you becoming yet another statistic.

In order to properly manage your personal finances, make sure anytime you have a credit card or cards in your possession that you use them wisely.

In today’s world, credit cards are all but a necessity. Try getting an airline ticket, car rental or purchasing something online without plastic.

If you want to be credit card savvy (and who doesn’t?), make sure you practice proper management of the plastic items.

Whether you have or one of the many other providers, it is important to:

  • Use them wisely (that means for needed purchases only);
  • Always attempt to pay off the balance in full and not just the minimum payment due;
  • Take advantage of customer service (many offer it 24/7) and make sure any and all questions and/or issues are taken care of;
  • Review your cards periodically to make sure you are getting the best rates and customer service;
  • Look for any financial discrepancies that could mean someone has stolen your credit card information and is making unauthorized charges.

Business of Properly Handling Credit Cards

Lastly, for those individuals running small businesses, credit cards are all but a necessity.

The cards will be used for a variety of things, including obtaining office supplies, paying off office bills, taking clients out to lunch or dinner when necessary, making reservations to attend conferences and trade shows and more.

If you’re still searching for the best credit card to meet these needs, you can use tools such as social media to review credit card company Twitter, Facebook, Instagram, Pinterest pages.

Oftentimes, these pages will offer in detail different facts about their credit card rates, reward programs, how to handle customer disputes and more.

When you properly handle and use credit cards, they can assist you in meeting your financial needs, be they personal or business.

About the Author: Dave Thomas writes for a variety of websites on topics such as marketing and small business.