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When you answer these questions and take an honest stock of your current situation, you take the first steps toward true financial freedom. Do you ever use credit cards for household expenses (groceries, etc)? This forces you to think about putting in long hours and makes you believe that you’ll be paying your bills endlessly, which is a painful and miserable experience. If you're ready to learn investing tips and money saving strategies then you've come to the right place.

After you have weighed the pros and cons of a home-based business and decided that self-employment is right for you, your next step is to develop a plan. When working on your business’ financial plan, don’t forget to develop a method for managing your new personal financial situation. Some self-employed individuals may have to pay up to a 15 percent self-employment tax in addition to their regular income taxes. The Small Business Administration (SBA) estimates that home-based businesses make up half of US businesses; take advantage of their resources at sba.gov.

While all members should be aware of the family’s overall financial situation, choosing one person to conduct the day-to-day financial tasks is a good way to stay on top of things. You waste money on late charges because you can’t find the bills you need to pay, or you forget to pay them on time You also waste money not deciding in the store where you should store the item you’re thinking of buying, and then not using it So now that you know why you should get organized, let’s discuss some practical tips to show you how you can get your finances organized. Put all bills to be paid in a specific folder When you bring in the mail, throw away the junk mail and envelopes immediately and only keep the actual bill in a dedicated plastic see-through envelope in a specific place.

Your credit score is based on a risk measure invented by a company called Fair Isaac and is called your FICO score. Now that you have looked at your credit reports and corrected in inaccuracies, make sure to pay everything on time, every time. Your debt-to-income ratio is the measure of debt you carry to how much money (after taxes) you have coming in. As you can see, it doesn’t take much work to keep your credit healthy, Just keep your spending under control, pay your bills on time, and don’t apply for extra credit too often.