Jacques Poujade is the Managing Partner of LendPlus, an alternative mortgage lender, and has over 30 years of experience in the financial services industry. He is a finance expert with a lot of experience in the real estate investing scene.
But you should know that when someone of this caliber shares wisdom, it is coming from a position of understanding, not just cheap talks. He has a blog where he actively shares his knowledge for free with his reader. To learn from Jacques Poujade’s wealth of knowledge, click here.
Mortgage Expert Jacques Poujade has agreed to exchange five financial pandemic tips for the year 2021.
- Make a practical budget—according to Jacques Poujade, budgeting is something that everybody can do, regardless of their income. You must first consider the spending patterns to create a reasonable budget.
Track your spending, which can be divided into two sections, is a good way to start.
- Expenses that are fixed: These are expenses that the amount cannot be easily changed. Expenses in this category include rent, debt payments, and subscriptions.
- Expenses that can be changed: The amount spent on these expenses can be changed from time to time. Expenses in these categories include clothes and clothes.
You can get information on your expenses by checking credit card expenses and bank account statements. Once you know how much you pay vs. how much you get, you can find out how much money to set aside for your objectives.
- Have the loans under control. Having debt isn’t always a negative thing. It can be used to help you get to places you wouldn’t be able to go otherwise.
However, paying off the debt can prevent you from pursuing other exciting financial goals.
- Think about working at home full-time. Because of the pandemic, the way the world does business has changed, and if you can save time and money by working from home full-time, it’s worth discussing with your boss. Working at home will cut travel costs, auto wear and tear, and out-of-pocket expenses such as lunch and coffee.
- Becoming interested in investing. Time is capital when it comes to saving. In reality, the length of time you engage in the market is much more critical than the date you plan to do so.
What is the reason for this? Compound interest is a term that has been used for a long time. Then curiosity generates more interest, which generates more interest, and so on.
Compounding development makes even modest, consistent donations swell into large balances over time. That is to say, the sooner you start saving for the long run, the better. With a few decades to rise, a little will go a long way.
- Get a safe side gig. Look for a second job that will allow you to earn more money for the time being. Of course, the prospects for earning a healthy side income might be small right now, but that doesn’t mean there aren’t any.
You could look for a career that allows you to work from home, such as telemarketing or data entry, or look for a job that doesn’t involve any contact with other people, such as pet-sitting or dog-walking.
Do not forget to check out Jacques Poujade’s blog for more useful financial information that can change your life for good.