Wednesday, September 22, 2010

Ways To Be Financially Responsible

I have long been a believer that money is a tool and that it should be used properly when needed. Money shouldn't exist just because you want something you truly do not need. Money is a tool we should use to make a difference in our lives for the better and possibly better others who need it the most. We have responsibilities in our lives and sometimes money is intertwined with those responsibilities. I have compiled a list of ways to be financially responsible.

Donate To Charity

You can donate items or currency to a reputable charity for those who are less fortunate than you are. You can also donate your blood, plasma and even hair to individuals who need it most.

Make Sure Funds Are Available

Most people will accept a personal check from a friend or family member and expect for that check to clear which is understandable. What happens when the check bounces when you try to deposit it in your bank account? We'll not only will they get a fee from their bank but you might incur such fees as well. This doesn't make sense on the surface but when you dig deeper, you are the one responsible for what goes in and out of your account. So if the bank is made from ABC bank and yours is XYZ, go directly to ABC bank and ask to verify funds then go to your bank and deposit it.

Balancing Your Checkbook

We all heard this one and I don't do it myself because I use cash or debit now. I do, however, keep track of my bank account online and an excel sheet. Your method might be different but it should all be for the same purpose.

Keeping A Budget

Another dirty word in the world of personal finance. Depending on who you are, this can be extremely fun to do and could be very informative in your life. It's not for everyone but it sure is responsible of you to take hold of your finances and cutting costs where you see fit so you can have money for other endeavors.


Tipping your server, waiter, bus-boy or delivery man is not only the generous thing to do but it's responsible of you to do. You might get the occasional bad service but do you need to cut out the tip completely or are you just being irresponsibly cheap?


So you have donated to the less fortunate, you keep a healthy budget and your tip really well. Have you ever thought about spending some of your valuable time in teaching kids how to read or write? You just may make a difference in this world, even if it's just for one day. I personally think this is one of the most responsible things you can do in anyone's life.

Return To Lost & Found

So you see a wallet full of money sticking out under a table. By the looks of it, someone must have dropped it. What do you do? If you said "take the money" you are wrong and irresponsibly but for those responsible, you would take it to the lost and found or it's rightful owner. I once received $20 for returning a man's wallet.

Do Not Walk Away From Your Home

So many homes are left unpaid and the numbers are increasingly scary. I have read about the calculations people make with their mortgages and why they selfishly decide to voluntarily stop paying a home they gave their word on. How are these people perceived by their more responsible counterparts or their children? What is this doing to the economy? What will this do to your credit?

Life Insurance

Need I say more? From my experience, term life insurance seems the way to go but I would highly recommend sitting with an agent to find out what is best for you in your situation. Life insurance polices can take away the headache that relatives face when they have to pay for a loved ones funeral. The last thing I would want is my family to be slapped with a bill while they are in mourning.

Report Fraud, Scams Or Theft

If you ever been scammed by a foundation, a company or a friend who is surely now a foe, then I hope you have reported this to the authorities or the better business bureau (BBB) to help prevent those unaware from falling into the same scam you encountered. Just think, if you were scammed by a foundation that could have been prevented in the first place, you would have wanted it to be reported before it got to you.

I would love to hear what other financially responsible ways you guys might be doing. Please comment below to share.

No comments:

Post a Comment