Ultimate Credit Cards Guide: Say Goodbye To Fake Money
Be Prepared And Plan To Dismiss Extra Credit Cards
One of the best ways to save money the fastest is to cut up all of those expensive credit cards except one, three maximum.
Credit cards are one of the most expensive forms of money.
A very good rule of thumb is, unless you pay off your credit card bills each month, don’t use the cards for anything you can either eat or wear.
If you have money to pay off your credit card bills each month, you don’t need credit cards, right?
Your bank debit card works likes a credit card!
Another good rule of thumb is to consolidate your debt.
If you have several credit cards, each at different rates of interest, why not fold them into a home equity loan, and then write off the interest payments?
This is a good way to begin an emergency savings fund.
Here are some good suggestions for budget trimming that can work for just about everyone:
When mortgage rates are especially low—consider refinancing your mortgage and, while you’re at it, your car loans, too.
When you live in an area that has good public transportation, see if you can get by on one car instead of two.
Make your current car last.
With good maintenance, you will be able to replace it every six to eight years instead of every three years.
Do a periodical energy check on the house.
Replace all essentials such as cracked storm windows and renew the weather stripping.
Cancel subscriptions to magazines or newspapers that you’re not reading.
Eat out less often and learn to be creative using leftovers.
If you stop for a morning cup of coffee at the local deli, make coffee at home.
For the kids weekly allowance cut it back.
Explain to them that every member of the family needs to contribute to the emergency fund for it to work.
Remember, too, that you will be teaching your kids to be frugal and to develop good spending habits.
Saving money on your own brings many rewards, and like most other things, it becomes easier over time.
In the end, your entire family will have peace of mind that comes from knowing you have financial resources set up, and ready for when times are the toughest.
The sacrifices you make now will be realized when you need the most comfort as a family.
Painless Ways To Find Money For An Emergency Ain’t In Credit Cards
If your plan for money for your next emergency is to scoop up the change that falls between the cushions, you might want to come up with a plan to add to that stash.
It is always a good idea to have a little extra green for the lean times without using credit cards.
Rainy days could be just around the corner.
Rainy day funds become necessary!
Here are some very clever and virtually painless ways to put aside some money now!
- Get a large envelope, cookie tin, coffee jar or something similar.
At the end of every week, throw a couple of dollars inside.
By the end of your first month, you should have some extra cash put aside to have a nice start on an emergency fund.
The idea to doing this is don’t count it or spend it.
Place it somewhere that is hidden away (out of sight, out of mind).
Put it somewhere that you won’t be tempted to dip into it.
This kind of money really adds up!
- The next time you treat yourself or your family to a meal out (without credit cards), tip yourself!
Just as you go to tip the waitress 15 to 20 percent, put the same amount aside for yourself.
When you get home, stash it away in your cookie jar.
- Every time you go through a fast food window, put a dollar away for that cookie jar, too!
- The next time you get a good raise, instead of applying it to your cost of living, bank it!
This way you will always be living one raise behind, and your bank account will be growing by 3 percent.
- Take advantage of that cash back option on credit cards!
- Next time you make a purchase using your debit card, ask for a small amount of cash back.
Instead of spending it, stash it away in your cookie jar!
Chances are you won’t even miss that extra $1, $2 or $5 bill and come emergency time, you will notice how the amount has piled up.
- Next time you pay off that big-ticket item like a new car or tuition, continue to make the payments to yourself!
Set up a savings account, and each month slip the ghost payment into it.
Watch as it builds nicely.
- If you have noticed that you can get a better smartphone plan (that’s not unlimited, which always cost more), and you want to switch, allocate the savings to your cookie jar.
You won’t likely miss that little bit of extra money, and you will have a better smartphone plan, too.
- Consider joining a Christmas Club instead of using credit cards.
You will save a lot of money.
Each year you put aside a bit of money and place it into a Christmas Club savings.
Then, as Christmas rolls around you don’t need to scramble looking for Christmas gifts to share with your family.
You can easily put aside $200-$500 each year towards your emergency fund this way, and you and your family will enjoy a hassle free Christmas.
- Sign up for a grocery shopping membership card.
At the bottom of your store receipt, you will see a print out that states how much you save each week.
It really adds up.
You can easily save an average of $15 on each weekly grocery trip.
Add that amount, each week, to your savings cookie jar.
- Did you enjoy your tax refund this year?
Sure you did, we all did.
That’s because of the new tax laws.
Many people had a little extra money coming their way after April 18.
Did you decide to deposit that extra money right away into your savings account, or cash it and then stash it?
Sure you can come up with plenty of ways you can use that money now, but put it away for later.
You might need it even more later.
- If you are a responsible spender, take out credit cards that reward your loyalty.
When you pay off the bill every month, use a card that promises a cash reward and bank the money.
Use your reward credit card smartly and you could end up with a very nice windfall for your rainy day fund.
- Put aside a large mouthed jar in the kitchen.
It is very likely that your parents and grandparents had one.
At the end of each workday, simply empty your pockets or clean out your change purse.
All the change goes into the jar.
Who wants to carry around all that dead weight, anyway?
Your spare change adds up a lot faster than you think.
While you are at it, add at least one bill to your change jar at the end of each week—aim for a $20!
- Is it time to give up that nasty smoking habit (I did)?
Imagine the money you will save!
If you are not quite ready to quit, at least cut back by half.
Put the savings each day into your change jar and watch it overflow!
- Convert to a coin-operated laundry.
Keep a jar on your washer and dryer and every time you go to do a load of laundry, slip in a coin or two.
This adds up month by month.
The next time you go to return a movie rental on time, pay yourself the late fee.
You will see how quickly that $1.50 to $4 can add up.
- If you yearn to loose some weight, try rewarding yourself the cost of the item that you do without each day.
Put that money into your change jar.
You will look great and you will be saving for a rainy day!
Place a large jar by the cookie jar.
Everyone must drop in a coin to get a cookie (you baked them so make them earn them) J
All proceeds go to the emergency fund.
This one works!
- Also, buy gumball dispensers and fill with jellybeans, nuts, etc.
They’re coin operated banks earning passive income!
Emergencies always crop up.
They are always guaranteed, unlike the money to deal with them, and credit card money is the most expensive form of money.