Money saving tips
SAVINGS
Open up an ING account, or HSBC, or Etrade or any online banking that pays a decient interst amount. ING Also has a checking account that pays high interest You don't get a checkbook, they mail them for you at no additional cost (saves you .43 for each bill) and you do get a debit card. If you have direct deposit for your payroll have some go to savings each pay - or set up a direct withdrawal from your own account into the Savings each paydate. You will not spend what you can't see. PAY YOURSELF FIRST. Here's why - we tend to check our account balance and spend accordingly - if the money is not there we don't spend it.
CREDIT CARDS
In a time when money is getting tighter I wanted to offer a little trick to help you save some interest on those credit cards. First if your not set up tp pay them online do so. Here's why - each time you get paid log into your credit card account and make a payment. If your usual payment is $100 per month and you get paid weekly - pay $25 each week. If you get paid every other week pay $50. Pay more if there's a little left over at the end of the month. You will pay the card down faster and you set your budget weekly not monthly.
MORTGAGE
Again if you can pay online pay a portion weekly making sure you make the total monthly payment by the due date. You will cut your mortgage in half as well as sabe thousands in interest - don't believe me? go to bankrate.com and use the mortgage calculator to calculate it. It will amaze you. If you pay PMI on your mortgage double check to see if you have enough equity to have it dropped. (If you can - put that payment into your savings account - ie if you PMI payment each month was $70 put $70 into your savings account because your mortgage just dropped $70, or do half savings, half mortgage.)
IRA
If you have a personal IRA (one you fund because you are self employed or do not have one where you work) CD's are the best bet right now (again at ING or any of the other places I mentioned above) They have a steady rate until the stock market comes back up. Check with your financial advisor for accuracy.
FOOD SHOPPING
and other household goods. Start at Target, Walmart, KMart whatever store you have near you - Look at your prices - you will find they are cheaper than in the supermarket. household cleaners, snacks, Gatorade at Target is always .97. You jump when you see them 10 for $10 in the supermarket. These places also take coupons - Then do your food shopping - start planning menus according to the sales. Use your local produce stands for your weekly fresh produce. Don't forget to buy twice as much bread and milk - I'm lucky enough to have several outlet stores near me (Pepperidge Farm) where the speciality breads my kids love so much are much cheaper - they freeze well.
This is just the start of things -
I'll have more to come!!
If you'd like a link to ING where you receive $25 for opening an account if you deposit $250 send me an email or give me a call Cheryl603