No magic is needed to successfully handle your personal finances. All it takes to preserve and even expand your financial assets are a little good fiscal advice and a touch of common sense.

Manage your money to be successful. Profits should be protected and capital invested. If you are planning for growth it’s okay to put profits into capital, but you have to manage the profits wisely. Fixing a firm ratio between profit and reinvestment will help you keep a handle on your money.

With the economy in its present condition, putting savings into varied sources makes good sense. For example, don’t put all of your funds into a savings account. Put some funds into checking or into stocks. The more diverse your investments, the safer your money is. Use a combination of several of these approaches to limit your financial vulnerability.

Don’t fall for the scam that an organization can guarantee you a clean credit report. A lot of companies out there make vague statements about how they will repair your credit history. This is a ploy to get you to sign up for their service. You can handle most debt consolidation and credit repair on your own. Success cannot be guaranteed and any promise to repair your credit is a false one.

Avoid large fees when investing. Investing brokers dealing with long term situations charge service fees. These fees can end up cutting into your overall profits. Avoid using brokers who charge large commissions and steer clear of high-cost management funds.

You should give careful thought to exactly when you want to send your income tax return to the IRS. To get your money faster, file your refund as early as you can if you are expecting a refund. If you will owe money to the IRS, file just before the due date which is April 15.

Buying a car or house are usually the biggest purchases most people make. The interest rates for both of these are large. You can pay these items faster simply with an additional payment every year, or you could make use of your tax refunds for paying the balance.

Health Insurance

You can start to get your finances in order with a good health insurance policy. It is inevitable that you will get sick some time or another. It is critical that you have some type of health insurance coverage. Doctor, hospital and prescription medication costs can total thousands upon thousands of dollars. This can ruin you financially if you don’t possess insurance.

As you can see, anyone can increase their worth, live within their means and have the happy and healthy financial life they desire. If you combine your common sense with the beneficial financial advice presented in this article, you can devise a budget that’s easy to maintain, decrease or eliminate your debt, develop a savings plan, and gain control of your personal finances before they gain control of you.

There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in San Mateo County where you can make the most impact on improving your community.