Everyone has their own secrets that they use to protect, save and earn money; On the other hand, we still make dumb decisions and we certainly don’t know everything there is to know about finances. Imagine a world where everyone knew those little secrets, we could all be rich; on the other hand, money would devalue itself, so let’s just leave it between you and me, k? Anyway, since most people are not good with money, you already have an advantage. I’m going to tell you some of my secrets and I hope you find them valuable, even if it’s just a little advice, it could save you some money.

pay yourself first

One of the best things you can do to protect your long-term income is to pay yourself before everything else. As soon as you get your paycheck or a large amount of money, take some of it out and put it away. Take about 10 percent and put it in a private savings account. You will earn interest and you will have the feeling of security in case something happens, or you will save it for when you retire. If you are young, it is best to start now; In addition, it seeks to invest in some Treasury bills. Treasury bills are very valuable for holding money for long periods of time. They do not provide interest, but scale with inflation; in other words, they will be worth more as society progresses and things start to cost more.

go for quality

When buying long-term items like: furniture, appliances, vehicles, electronics, and clothing, go for quality. Spending extra money now will pay off in the future. Also, higher cost doesn’t always mean higher quality; be sure to research the products you are buying. Look at some reviews online or ask your friends; these can be invaluable tools in making decisions about large purchases.

Avoid credit cards

Unless you have lots of cash and a large steady income, try to avoid credit cards. Credit cards can be disastrous for one’s money; In addition, they are the main target of identity theft, hackers and other criminals. Stay old fashioned whenever you can and only buy things when you have the money. With the constant changes in technology, credit cards are being replaced. You can shop online with a debit card, PayPal, and online checks; Besides, it’s just stupid to pay all that interest just because you’re too lazy to count cash. Carrying cash is much safer than paying someone else to carry it for you. Save credit cards for things like cars and houses, and use cash, checks and debit cards for regular purchases.

Do it yourself

Taking the time to learn how to do something can save you thousands of dollars each year. You don’t need to be a mechanic to read a quick article on how to change your car’s oil, change your tire, or do basic maintenance. You don’t have to be a carpenter to paint a house, lay rugs, or garden. Pack your own candy and soda when you go to the movies, and cook your own food at home when possible. Replace some of that laziness with knowledge and you’ll save some money.

Lottery

Face it, you can’t trust the lottery to give you financial freedom; however, if you are someone who buys lottery tickets frequently, try switching to scratch cards. Spending a dollar on a scratch card every week gives you a much higher chance of winning; furthermore, scratch cards often offer quite good payouts. Often when five and ten dollars, but can pay in the thousands. If you win $1-20, take half of the winnings and buy more tickets or buy a regular lottery ticket; then save the other half. Be sure to check the odds on the back of the card, as some cards’ payouts can range from 1:3 to 1:9. You may also find that scratch card games are much more fun than the regular lottery and the odds are much better.

keep cash

Always keep cash in your possession. Anything could happen in this crazy world that would cause you to lose money in your bank, and some people lose quite a bit of money due to bank related issues, so try to keep around 1-5% of your money in cash; more, distribute it in different places and keep it secret. If necessary, get a few different accounts and spread your money across them. It may seem a bit pointless to some people, but a little paranoia will be better in the long run.

Depending on what your income is, these tips may vary, some may be completely useless, but since you’re reading this, I’m assuming you’re not a millionaire. Above all, the best thing you can do to protect your money is to develop self-control when it comes to spending. Buy only what is necessary first and save as much as you can for future emergencies, or you can go ahead and give it to me.