Moneytrackin': Recent global tips tagged with "savings,"

Be Careful with Credit Cards

moneytrackin_de — Thu, 07 Jan 2010 16:40:18 +0100

The whole appeal of credit cards is the ability for consumers to "have it now, pay later." The problem lies when "later" ends up becoming much, much later. The debt incurred for late payments of a statement is one of the bigger ways credit card companies make money, and one of the many ways you lose money. Many credit card promos involve offering low or zero interest rates for a certain period, but oftentimes the overdue fees are not waived. It's important, not just for credit card transactions but as a good habit in general, to keep mental track of your expenses. It's easy to do if you use your card infrequently, but if you use it to buy soap today, and then towels tomorrow, and then a videogame the next day, and groceries the day after, not to mention your subscriptions to National Geographic as well as the electric and water bills, etcetera, you may lose track of just how much you've already spent, and how much you still need to spend. A large interest accumulation and, possibly, penalties due to overspending beyond your credit limit, are potential problems you'll have to face. The best thing you can do to save money using plastic is to pay quickly. You do not have to wait until you receive your statement before you pay your dues. What I've done, for example, is set my credit card account as one of the billing options in my savings account's online interface. That way, as soon as I get home after charging to my card, I can quickly go online and pay the bill. Also, remember the advantages your credit card company offers. Bonus Points, discounts, freebies, express service at select stores, these are all part of the perks of the plastic.

Make a real life "change" by saving yours

caser — Sun, 18 Oct 2009 19:30:39 +0200

Really true!... Regularly saving your lose change instead of the common habitual practice of spending it could quickly add up to a nice little sum of extra useful money you'd otherwise never know you had. All it takes is a little will power and altering a few habits. Like... instead of buying your usual morning coffee and those two donuts why not just have one muffin and skip the donuts. Saving as little as .80 cents might not seem as such a big deal but in a 7day week thats $5.60 and in a 30day month thats $24 you probably never knew you had. Soon over time you discover other littles habits where you could cut some expenses on and then you will really see just how big your change could grow. Just think about that vacation you wanted to have and finally go and take it. Believe me; making these little sacrifices is well worth the rewards.

Simplify your life, and profit

miggity2 — Wed, 24 Jun 2009 23:01:31 +0200

Clutter can make life much more difficult than it needs to be. Taking one room at a time, go through it and gather anything that hasn't been used more than once in the last year, as well as anything that has no real value to you, or relevance. If it has true value for you, keep it. If it has no value at all, discard it. If it has value, but not especially to you, donate it to charity and take a tax deduction. Make sure to get a receipt from the charity organization you donate to and if you're donating high value items consult with your accountant to find an charity approved for tax deduction. Disclaimer: I am not a lawyer, accountant, or tax professional and the content with my posts are for entertainment purposes only.

How to Retire

lcusucoxnet — Mon, 12 Jan 2009 02:17:09 +0100

Read the book "Your Money or Your Life": Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Revised and Updated for the 21st Century by Vicki Robin, Joe Dominguez, and Monique Tilford (Paperback - Dec 10, 2008) Buy new: $10.88 at Amazon I am unaffiliated with any part of the book or Amazon. Love the discussion on Life Energy, Real Hourly Wage, and getting to the cross-over point so you can retire comfortably.

Overdraft Protection

moneytrackin_de — Sun, 05 Oct 2008 01:30:25 +0200

Be careful with Overdraft Protection from companies like JP Morgan Chase. DONT ABUSE A SECURITY FEATURE! Banks like Chase limit you to to 6 transfers with overdraft protection per month and after that, they stick you with a $12 or larger fee.

Common Saving Ideas Really Work

fryertuck — Sat, 03 May 2008 01:42:41 +0200

- Make your morning coffee @ home and put your daily coffee spending into a savings account - Bring a bagged lunch to work - Open an account @ ING and have the money automatically moved from your main bank - Avoid leaving a balance on your credit card and stop the interest leak - Keep an emergency fund readily available to avoid using credit