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David S Capo Offers Smart Saving Tips by Lizelle Tyler
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David S Capo Offers Smart Saving Tips |
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Business,Finance & Investment,Advice
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In twenty years as a corporate financier and investment banker, David S Capo has certainly gained his share of knowledge when it comes to the competitive world of corporate finance. But personal finance can be a different matter altogether, as David S Capo knows well. Too often, people see big numbers and assume a person has a lot of personal wealth, but David S Capo knows it is not that simple. Indeed, he has seen people he knows with giant amounts of paper wealth go down in flames due to poor personal finances. Here are a few tips from David S Capo on managing your own money wisely. - Avoid Credit Card Debt. Credit card debt is a major killer among many households with otherwise strong finances, says David S Capo. The high interest rates that many credit card companies charge can quickly put even a small amount of debt out of reach, ballooning ever larger. David S Capo advises making purchases with a credit card, but then paying that card off in full every month. This increases credit while minimizing interest and eliminating late payment penalties. Once you get started down the path of credit card debt, cautions David S Capo, it can be impossible to turn back.
- Maintain a Savings Fund. David S Capo highly stresses the importance of an emergency savings fund. In his experience, it is the single most important tool for avoiding financial disaster. The fact is, David S Capo says, bad things do happen, whether it be losing a job, having a medical issue, or whatever else the case may be, and failure to prepare for the worst is tantamount to an amateur walking a tightrope with no net. Maintaining a fund with six months’ worth of capital to cover unexpected bills is not only a sound financial policy, says David S Capo, but could actually be the difference between solvency and sinking when disaster does strike.
- Make Sound Investments. David S Capo knows the lures of the market like anyone, yet he cautions against rash decisions. According to David S Capo, the market is fairly stable over the long term and prudent gains can always be made by those with the patience to ride out the short-term bumps.
With these tips safe in hand, you will be well on your way to being as financially savvy as David S Capo himself. http://www.bankrate.com/finance/savings/12-savings-tips-2012-1.aspx
http://www.mymoneycoach.ca/why_save/saving_tips.html
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