It’s almost the end of the first quarter: how are your financial plans?

At the end of March, 2023 will be one-fourth over. Only three-quarters of the year remain. For many people, New Year’s resolutions are just a distant memory at this point – how are yours doing? You likely made a number of plans in January. Maybe you decided to get out of debt, increase your credit score, go back to school, pay off your payday loans. Whatever it was, now is a good time to reevaluate your progress.

Dust off those January plans and take a close look. Are your finances in better shape than they were in January 2023? Has your debt load decreased? Are you paying bills each month? Have you been able to avoid payday cash advances? If not, take a close look at your habits. Try to find out where you have gone wrong. Maybe you are not creating a budget or maybe you need help to tame some emotional spending. Make a resolution to take care of some of those items on your list this week, so that the next eight months of the year will bring even more success.…

Refinancing your mortgage: should you do it?

Refinancing your mortgage generally means changing the terms or the interest rate of your home loan. Usually, this is done by taking out a new home loan. There are many reasons why you might want to consider a new mortgage:
You did not research your options carefully the first time around. If you did not carefully consider which mortgage is right for you and did not go out of your way to find the lowest interest rate possible, you may be paying more for your home loan than you intended. By doing research now, you can make better choices with refinancing.
Your financial life has changed. If you have repaired your credit, paid off some underscored loans and personal loans, you may be able to qualify for a better mortgage or pay off your mortgage more quickly. Or, you may be struggling to make your mortgage payments. In either case, changing your mortgage can help you.
You qualify for a lower interest rate. Some people take on bad credit loans when applying for a mortgage because bad credit home loans are the only mortgage they qualify for. If you have a bad credit mortgage, you will want to seek refinancing once your credit rating improves and you qualify for a better rate.…

Winning habits of the wealthy

People who are successful with their money have a few tricks up their sleeves to make the most of their cash. You can do the same with these tips. Keep track of your money. Find out how much eating out and those little indulgences are really costing you. Most people who rely on payday loans, cash advances, and other types of unsecured loans get into debt because they do not know where their money goes. Don’t fall into the same trap. Carry around a small notebook and write down every penny you spend for at least a month or two.

Plan ahead. Set between one and three big financial goals you want to achieve and start developing a budget and a plan that lets you achieve those goals. For example, if you want to live debt free, you may need to funnel extra earnings into your bills.
Don’t get mired in debt or manage the debt you do have. Debt drains your paycheck and makes you pay more than you need to for the items you purchase. Work as hard as you can to pay down your debts as much as possible.…

Good financial professionals

And the very wealthy have a few basic rules that they follow to achieve financial success. Following these same rules can bring you closer to financial success, as well:

1) Do not lose your money. Successful investors and financial professionals do not gamble their money and they do not part from it for frivolous reasons. If they want to invest, for example, they learn as much as they can before they invest a dime, so that they do not have to resign themselves to losing money on a bad investment. The same goes for borrowing. The wealthy know that it costs money to borrow and so they avoid personal loans, signature loans, credit card balances, and other forms of unsecured loans.

2) They have specific goals and know how to make them happen. If a financial professional decides to invest in the stocks of a specific company, he or she does so when there is a good reason to do so.

3) Buy investments the smart way and hold onto them. Investors who do well are more concerned with getting quality for their investment money rather than paying the lowest possible prices. Once they have good quality assets, they hold onto them unless there is a very compelling reason to sell.…