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Cheapest Ways To Pay Off Your Credit Card Debt

canstockphoto9786423Are you looking for the cheapest ways to pay off your credit card debt? If you have been struggling with credit card debt, it makes sense for you to pay it off really quick. The faster it is paid off, the better your credit score will be. The faster it is paid off, the faster you will be able to focus more on saving money. The faster it is paid off the sooner you will enjoy one less stressor in your life. However, paying it down fast may not be your primary goal right now. You may be looking to pay it down as cheap as possible instead.

 

It won’t be the same for everyone. It all depends on your balance as well as your interest rate. Finally, the cheapest way to pay off your credit card debt will also depend on your assets. Let’s take a look at a few possibilities to pay off your debt.

 

Use Your Savings

If you have a savings account, take a look at the amount of interest you are earning on your money. Compare it to the amount of interest you are paying on your debt. If you’re paying more on it than you’re earning, then you should consider cashing out your savings to pay off your debt. Once you wipe away your debt, then you can once again begin focusing on your savings. If you’re no    longer making any monthly credit card payments, you may be able to start rebuilding your savings quite quickly.

 

Debt Consolidation

Do you qualify for a debt consolidation loan? If so what is the interest rate? Compare the interest rate of a loan compared to the interest rate that you are paying on your credit card debt. Most often you are paying credit card companies much more than you would be paying a bank. For this reason, make sure once you’re through paying off your credit card debt that you cut up those cards. Once you run a balance on them, then you are paying back the loan and paying on your credit.

 

Home Equity

Home Equity Loans may be an option depending on the market, how much equity you have on your home and the interest rates. In addition, a portion of the interest that you’re paying on a home equity loan is tax deductible. However, like a debt consolidation loan, you will jeopardize yourself by running up  your credit cards again and paying two loans simultaneously. This should be used as a last resort.

 

Pay It Off

Finally, you should consider cutting back on your expenses and paying more than the minimum balance on your credit card each month. This is often the cheapest and the most cost effective way to pay off your credit card balance. There are other ways to pay it off such as getting a second job, selling your car or moving into a cheaper apartment if needed. The faster you pay off your credit card debt, the cheaper it’s  going to be.

 

If borrowing isn’t an option for you, and we didn’t mention borrowing from your friends and family and you don’t have any savings to pay off your debt, consider taking drastic measures. Get a part-time job, pick up some freelance work or sell some of your valuables by having a garage sale or use an auction site like eBay.

Using your savings, cutting back on expenses and debt consolidations are some of the cheapest ways to pay off your credit card debt.  You’ll be relieved once your credit card debt has been eliminated for good.

For more tips on  building your savings, sign up for the 10 Part Mini Course.

 

 

Earn Money In Your Spare Time

Earn Extra Cash In Your Spare Time

There are days when you may find yourself bored with nothing to do. You may decide that you would like to read a book, take an afternoon nap, watch your favorite television shows or to engage in your favorite hobbies such as sewing and gardening. Instead of looking for something to do where you don’t have to spend any cash, it is best to pursue things that will allow you to earn some extra money.  You should consider using your free time by finding a part-time job or starting your own business. Here are 3 top reasons why you should earn extra cash in your spare time.

 

Add More Money to Your Savings

Having a part-time job or your own business is an excellent way to add extra money to build your savings account. It is best to put away money just in case you run into an emergency such as medical bills, unexpected home and car repairs and to have enough money to pay your household expenses. There are times where you may experience having an illness when you will need to seek medical attention. Medical bills can get quite expensive especially if you have don’t have any medical insurance. You should also expect to pay for  ongoing maintenance on your car and your home as well since there will be a little wear and tear over time.

You should strongly consider having at least six months of funds put away if you happen to lose your job.

 

 

Make Good Use of Your Free Time

Instead of sitting around the house doing nothing you can use your free time by earning a paycheck. This will also enable you to learn new skills while meeting interesting people. You can utilize the skills that you’re learning from your  part-time job to transition into starting your own business.

Despite these uncertain economic times, there are still opportunities to start a side business from home. You have the option to work in the evenings or on the weekends. Many big and small companies are outsourcing different jobs to dedicated and hardworking people like yourself. It is a win-win situation because you will earn yourself some money while they (the company) will save money by not having to pay hourly wages and insurance for a full-time employee.

 

Do What You Love

You may be currently working on a job that is stressful or it just pay the bills. You may find a part-time job doing something that you are passionate about. Furthermore, you may get an offer for a full-time position where you’re able to do things that you enjoy the most while you’re getting paid for it.

There are opportunities out there that you can turn your hobbies into a business. For instance, If you are an animal lover you may want to start a dog walking business. You can also start a pet sitting or a dog pooper scooper service in your local area. People have busy schedules nowadays or they just have no desire to do these things. They are willing to pay you to do these tasks for them.

 

Adding extra money to your savings,  making good use of your free time and doing the things you love the most are 3 Top Reasons Why You Should Earn Money In Your Spare Time.  As long as you keep track of your savings, earning extra money with a part-time job or a side business will possibly get you on your way to building wealth for you and your family.

For more budgeting tips, sign up for the 10 Part Mini Course or if you like what you’ve just read share this with your Facebook and Twitter friends.

 

 

Does Being Frugal Have to Ruin Your Lifestyle?

Does Being Frugal Have to Ruin Your Lifestyle?

Does being frugal  have to ruin your lifestyle? You may hear people speak a lot about saving money and being frugal. Just because you choose to adopt the frugal lifestyle don’t necessarily mean that your life as you know it will completely change.

We all can start tightening the belt and spend a little less than we have. Oftentimes, if the money is available we  don’t make an issue of paying the full price. This is our mindset. When you start to live frugally, you’re changing that mindset instead of your lifestyle.

Some people associate living frugally with being cheap. This is further from the truth. With “cheap” There’s an old saying “ You get what you pay for” which is usually spending money on something that’s worthless. This is wasting money. It’s similar to paying for an item at the full price. Frugal is when you’re searching for another way to pay for a product or service that’s of comparable quality but costs less.

Always find the best deals that you can on all things in every area of your life. There is nothing to be ashamed of. Different companies offer deals in order to earn your business. Allow them to do the work in your favor while you enjoy the ride. You may even find that frugal living will teach you how to look at life in the long term instead of only focusing on the here and now.

Think of it this way. When someone pays the full price just because they have the money is not considering the financial mistakes they are making. For example, If you can get your medication for low cost or free of charge by using Medicare or looking into your private insurance, why shouldn’t you do it? All it takes is  a little research, but it’s well worth it since the savings can be used for something else.

Would you like to travel? Even in a recession, you can still travel if you tighten the financial belt. What has changed or what you’re trying to change here is your mindset. Have you ever seen the commercials for Travelocity? You can stay in four-star hotels and dine in fancy restaurants by taking advantage of travel deals.

Living frugally does take some investigating on your part. Look at exactly what  are some of the discounts and deals that are offered for travel, rental cars, dining out, and shopping for clothing and souvenirs.

Do your kids want money for a trip to the mall with their friends? Why not hold a yard sale? They will learn how to organize, make a decision as to what they would like to sell and also learn the value of a dollar. This will give you an advantage by having a cleaner house and they will earn  cash for a job well done.

Try your hand at frugal living. Being frugal doesn’t mean you have to give up on your favorite hobbies or the activities you are accustomed to. You now possess the skills to do it better.

For more Budgeting Tips, sign up for 10 Part Mini Course

canstockphoto5998338Whether you have recently retired or have been for quite some time, adjusting to a fixed income can be a challenge in the beginning. After years of earning and spending, it is time to create a budget that’s designed to not only stretch your dollars, but also to give you the quality of life that you deserve. The usual savings strategies will still apply such as turning off the lights and lowering the thermostat. Let’s take a closer look at other ways on how seniors can build savings and live comfortably after retirement.

Being a senior citizen does have its advantages. Many retail outlets offer senior discounts on certain days, which can get high as fifteen percent. Restaurants, broadway shows, movie theatures and even museums offer discounts to seniors. Since you are now retired, you have the advantage of being able to do your shopping at any time. This will give you time to make out your list before shopping and will allow you to visit all stores in a single day to achieve maximum savings.

Buy the generic brand products as they usually provide the same results at a lower price than the brand name items. Purchasing products such as paper towels and toilet paper in bulk when they are on sale is just one way to save you more money. In addition to the sales, clip coupons to boost your savings. Many supermarkets offer double coupons up to 99 cents, so be sure to ask the store manger or the cashier if they offer these great deals.

If you would like to enjoy the nightlife, why not check out the senior centers in your local area. The centers are made up of people that’s usually in your age group and have wonderful events planned weekly such as bingo, dancing, casino nights and movies. The best part is that you will  only need to pay a small fee for an enjoyable evening out. The most rewarding part is you will develop friendships with other seniors who have the same interests.

Living on less does not mean you have to be deprived of the things you enjoy. Open your mind to doing activities that cost less. Taking a walk in the park or a swim on the beach won’t cost you a penny. If you currently are not an active driver you can sell you car and rely on family and friends or take public transportation. The transit system in your area will most likely offer discounts to seniors. The upkeep and maintenance of a car is a hefty expense and so is the price of auto insurance. If you no longer need a car, you will have more money in your savings.

Taking advantage of discounts, living with less and enjoying your favorite activities on the cheap are some of the ways how seniors can  build their savings and live comfortably after retirement. Adusting to less can be a challenge in the beginning, but it will eventually become a way of life. There are many benefits you can enjoy being a senior so take advantage of them and watch your savings grow.

For more budgting tips, sign up for the 10 Part Mini Course.

Can You Afford a Family Pet?

canstockphoto10619493Pets have become a part of many families these days. They are considered to be our close friends, play mates and confidants. But they also come along with a high price. If your family is thinking strongly about owning a pet, you will first need to consider if you can afford the extra cost.

 

They are cute, cuddly, curious and have the characteristics of little people. No, we’re not talking about children. These are the personalities of pets.  There’s an old saying “A dog is a man’s best friend.” They are known to save lives in dangerous situations and are treated like a family member to the end. They are forgiving and will take on your traits over time. With all of these good things, why don’t more people have them?

 

Well owning a pet will get very expensive over time. Their cuteness doesn’t hide the fact that you will have ongoing expenses in order to get them in your home and to keep caring for them throughout their lives. For this reason it is worth the time to make a well-informed decision. It is unfortunate that many pets end up in animal shelters  or homeless on the streets because their owners could no longer care for them.

Here are some things you need to consider before buying a family pet.

Do Your Research– Ask yourself if you would like a small or large pet. Do you want a dog, cat or have a reptile such as an iguana? When it comes to caring for a pet , all animals have special needs. There are different considerations to take even within a species. Small dogs are a good match if you live in an apartment while large dogs need to run free and get a lot of exercise in the backyard. Some landlords don’t allow you to have pets. Animals also encounter illnesses that can affect your wallet.

 

What are their short-term needs?  Most pet owners are aware that they will have to spend money on their pet from the beginning, but they don’t have a clue of the exact cost. Let’s take a cat for example. They will need to have a litter box, a scratching post (so they won’t damage your furniture), toys, bedding and an initial visit with the veterinarian. If you don’t care to have kittens, then you will need to have your pet spayed or neutered. You may be out of a few hundred dollars even if you bargain shop.

What are their long-term needs? These will be the recurring costs of owning a pet. This includes food, vaccinations, grooming, pet insurance (this is optional), treats and litter. Think about the fact that you acquired your pet as a baby and they will grow eventually. Their food will get more expensive and so will their needs to have regular checkups. You will need to keep your pet healthy in order for them to have a long life with your family.

You may even compare pets if your family is interested in having more than one. Your family may decide to wait until another time to have a pet depending on your financial situation. Meanwhile your research has given you a goal to shoot for in the hopes of getting that new puppy or kitten in the near future.

For more Money Saving Tips sign up for the 10 Part Mini Course or If you like these tips share it with your FaceBook and Twitter friends. Leave a comment below

6 Easy Ways to Save Money on Cleaning Products

canstockphoto16136435Cleaning is an important task if we want our homes to look presentable. You may have noticed all of those television commercials advertising the latest and greatest cleaning products. “If you want to remove those tough stains fast, you should try this product.” “ If you want to stop the grease from sticking on your kitchen surfaces, use this spray because it’s the best.” These ads are everywhere.

Before you go out and spend your hard- earned money on something that may or may not be worthy of your time and energy, here are some suggestions for you.

 

Buy in bulk. Most stores usually offer a discount when you purchase more than one product. If you have a favorite type of cleaning product that you have been using for years that still work works for you, then you know that it is always needed. Stocking up will save you money in the long run.

Do a little research. Just what exactly is in these cleaning products? It is as much important for you to save money as it is for the environment. Cleaners with bleach are usually more expensive. You can just use the bleach itself. Most of the ingredients are added as fragrance or to help bind together the other compounds.

Make your own household cleaners. This is not as difficult as it sounds. You will not be required to be a scientist that’s cooking up something dangerous in the lab. If you have a bottle of bleach around the house just mix it with water. It will make an excellent disinfectant for cleaning your sink, bathtub and shower curtains. You can also add a little to dishwater to remove tough stains on pots and pans.

What about lemon juice? It is citric acid and can be used to get rid of grease. Simply squeeze some juice concentrate on the grease stains or mix it with warm water in a spray bottle and apply. Let it sit and you can use a dampened sponge in order to better remove the grease.

White Vinegar. It has many uses, which includes getting rid of foul odors out of rugs and furniture where you have spills. It can also be added with warm water to clean your linoleum flooring. Mix it with water in a spray bottle and apply it to clean the windows. You may also use ammonia combined with water. Dry it with a piece of newspaper.

Clean Regularly. As Ben Franklin quoted “ An ounce of prevention is worth a pound of cure.” Keeping  a set schedule for daily or weekly chores will prevent the build- up of dust, grease, soap scum, hard water stains and the like. Milder cleaning products, like the ones that are homemade  can be quite effective for regular cleaning without having to put in all of the extra hard work.

If you are looking to save money on cleaning products, you can easily create your own. If you don’t want to get your hands dirty you can always purchase your favorite brand by the bulk. You can keep your house squeaky clean while staying on a budget. Let’s start cleaning!

For more budgeting tips please sign up for the 10 Part Mini Course or share these tips with your Facebook and Twitter friends.

canstockphoto10924485There is no end in sight to the tricks that people will use to separate you from your money. They will use any trick in the book to get you to sign, reveal or give away your financial secrets for them to gain access. There are steps you can take to protect yourself from financial fraud.

What is financial fraud? It is the act of taking something from someone by using deceitful tactics. Unless you are able to prove that you’ve been defrauded, you are simply out of your money.  This is a hard lesson that people have to learn for trusting an individual or a company that tell you that they will make you fast money.

Here are some tips that you can use to keep you financially safe.

There’s an old saying “If it sounds too good to be true, then it probably is.” Anyone who promises that you will make a double return on your investment for very little or no work is to be suspected of not being truthful. It could be that they are telling the truth. Think of the people who have invested in Google, which is the number one search engine in the world. Another example is  Microsoft, which is the leading software company that makes billions of dollars in revenue. The people who became wealthy have done their due diligence before they invested any of their money.

If someone approach you about a business or an investment opportunity, and there are red flags waving, then you should keep your money in your wallet.

Get in on the ground floor. Whenever it’s mentioned that you are the “seed investor” this simply means that your money is supporting their project. You should always ask if they believe enough in their project to invest their own money. If the answer is no or they are giving you a vague answer, then you shouldn’t let go of your money either.

Ask for a portfolio and a business plan. If a company is looking for investors, they will need to show something in writing such as a business plan and the financial projections. This is required by the banks. If it is good enough for the banks which has a lot more money by the way, then they can also share the same information with you.

Beware of the investments that doesn’t exist. This includes the condo builders that pre sell property when there isn’t even a model available for the prospective buyers can see. How much does it cost for you to invest? In this case do your due diligence by speaking with a mentor and get an opinion on the best ways to invest your money. Make a decision once you have done your homework.

Learn all about the latest schemes. Local and national newspapers often cover stories on the latest scams. There are stock market, multi- level marketing, and offshore banking scams and the like. If you are approached by someone that’s  trying to convince you to part with your money with a similar offer, you are warned to stay away from them.

Whether you are investing ten dollars or a million dollars, always ask for proof that your money will be spent for what is promised. Ask questions, demand proof and find a reputable mentor about the source of the claims to protect yourself from financial fraud. Never sign or give away any of your personal information until you can think about it while conducting your own investigation.

 

For more budgeting tips, sign up for the 10 Part Mini Course or if you like what you’ve read share this with your Facebook and Twitter friends.

 

 

 

dreamstime_m_32586124Going overboard with your finances is not a hard thing to do. It is  estimated that the average American family owed $4,878 in credit card debt during the first quarter of 2013 according to Transunion.com. Fortunately for you, there is a way of getting around this which is by planning a budget. A budget can be implemented at any time, so gather your bills, find a quiet spot in your home and let’s get started.

The first thing you need to do is to figure out what you have coming in and what you have to pay. Once you have sorted through your bills, you should organize them into groups of what has to be paid such as the mortgage, rent, utilities, loans and credit cards. If you cannot afford to pay the electric or gas bill, you should make contact with the companies. Most of these businesses offer a monthly budget plan in which you would only have to pay around half of the bill, and they will bill you the remaining balance over the next few months. In regard to credit cards, you can make the minimum payment to get you through the first month.Then move on to your weekly expenses such as groceries and gas.

If you really would like to stretch your family budget, then you will have to do without the extras for a while. Start bringing your own lunch to work, make your own coffee at home and make home-cooked meals instead of eating out. Recovering will not take long since there is a lot of money you will be able to save just by doing the few things that’s mentioned above.

When it comes to shopping at the supermarket, make out a list that will include planned out meals for the week. You will be amazed at how much money it will save you when you stick to the list and plan your meals. Start clipping those coupons to further your savings and save some extra money. Consider making a few casseroles every week as you can easily have leftovers that will easily make two meals for  your family.

Lower the temperature on the furnace before going to bed or when you’re away from home. If you have been thinking about replacing the old light bulbs with the new energy efficient bulbs, now is the time to do so. Making this change will be a real money saver. Turn off the appliances when they are not being used or unplug them and you will really see your utility bills decrease.

Many families go overboard when it comes to their budgets, not realizing that there are simple methods to save on their everyday expenses. By utilizing some of the above advice, you will be shocked at how much money you will accumulate . Be smart and put away that extra money in case you need it for a rainy day.

For more money savings tips, sign up for 10 Part Mini Course or if you like what you’ve read share this with your Facebook and Twitter friends.

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