How to Make Smart Personal Finance Decisions

Are you making smart personal finance decisions? If your not sure about the answer that question then chances are you probably aren’t. I’m going to show you one of the simplest ways to approach your personal finances. Managing your money really doesn’t need to be difficult at all.

Making smart personal finance decisions can be as simple as just three little steps. The most important thing to remember is that no matter what decision you make about your financial future most financial institutions offer very similar products so if the one you’ve chosen this time does not offer the best rate or the lowest fees it may next month. Financial institutions are constantly changing to keep competitive.

Step 1.

Make a list of three to five financial institutions to research. A good way to do this is to make a list of as many of you can think of then, go to the internet search each one, then narrow it down to a few.

Step 2.

Gather all the rates and products for the financial product you are after.
Compare the features each product offers.
Compare the rates offered.
Compare the fees charged.
Which banking institution was most helpful?
Which financial institution made you feel most comfortable?
Which banking institution did you feel was most knowledgeable?
Which institution gave you options for the types of products suitable for you?

Step 3.

When discussing your financial needs don’t be afraid to tell your banker what you want. They are there to give you what you want, to make what you want to happen with your money actually happen. Take the time to think about what you really want from your bank, what is most important to you? Is it lower fees? It is it one on one service? Is it better interest rates? Is it important to you to have a banking branch close to you? Is it important to bank with a bigger bank, or would you be happier with a smaller institution?

Choose which one you like best, you may find you don’t pick the cheapest or the best rate but the product which provides better features or the institution that makes you feel most comfortable. The important thing is that you are confident with the decision you have made. Most of the people you will speak to will be experts so the products they offer should all be suitable. Trust them!

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