There are expenses we all have that we try to reduce. There are typically two types of expenses, the ones you can change and the ones you can’t change. The ones you can change are the “wants” and the ones you can’t change are the “needs”. Therefore we try to spend less on clothing, vacations, restaurant meals, etc., while typically spending the same amount on utilities, food and fuel.
But I would say that there are not two types of expenses. All expenses can be changed. You can negotiate or bundle your monthly utilities for a lower rate. You can purchase food in bulk or use coupons. You can also save money on your gas expenses.
Below are some tips on how you can fight the effects of high gas prices and leave some more money in your wallet.
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There comes a time when you may want to switch your current credit card deal to another one on the market. There are several reasons why you might be thinking about switching your credit card to another one, and we’re going to look at these now.
First of all, credit cards can be used for a number of purposes, and various different types of card can suit people who need their card for different reasons. For example, if you’ve been using a credit card to repay your debt (a 0% balance transfer card, for example), but you’re now debt free and would like to benefit from your card use – you may look at applying for a ‘cashback’ credit card.
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With just a month left in the year now is the time to think about your 2009 tax returns. Here are some unique end of the year tax tips.
– If you feel you’ve earned too much this year ask whoever pays you to defer payments until January 1st. That way you won’t pay taxes on those earnings until April 2011.
– If your wife gives birth bu the end of the month you can claim another dependent this year.
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If I had a penny for everytime I’ve been at a department store counter ready to pay when you hear those tempting words, “would you like save 15% on your purchase by applying for our store credit?” Sounds like a tempting idea, however the savings may not be as big as they sound. When applying for store credit you need to keep in mind wether you will be able to pay for your charges quickly before the interest rates get in the way and wipe away your savings. Always be careful with applying for too much department store credit it will show up on your credit report. Aslo keep in mind that store credit cards do not carry the same dispute regulations and if your not satisfied with a purchase you may not be able to stop payment or enlist the lender to dispute thecharges on your behalf. So buyers beware.
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There’s so many credit card options out there to use that if you are paying a monthly or yearly fee for a credit card you’re throwing money down the drain. Now it’s not really recommended to simply cancel a card you’ve had for many years and open up a new one without a fee. However what you can do is call the credit card company and request that they remove the monthly/yearly fees from your account. You can negotiate with them and have them raise your interest rate if they have to. It’s likely that at the time they gave you the card you had a lower credit score than you do now, hence the reason for the monthly fees. The last thing a credit card company wants you to do is to leave them for another company, so they’re willing to negotiate if they think they’re going to lose you.
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If you place a charge of $5,000 on your credit card and only make the minimum payment each month, the chart above shows you how long it will take you to finally pay it off and how much interest you’ll end up paying.
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In these tough economy times a good credit score is the key in being able to open the doors of the purchasing world. The following are some tips on how one can increase their credit score.
- Make sure you are paying your credit card bills on time and of course more than the minimum.
- Remember you must use your credit in order to build it. You can’t just sit on a credit card and expect to increase your FICO score on it’s own.
- Aim in getting a major credit card, gas card and store credit isn’t as effective on building credit. Instead try Visa, MasterCard, or American Express.
- Don’t let any billing disputes go to collections. Handle all past due payments promptly
- Spread your credit, don’t use just one card for all your expenses. Your fico score will benefit if you maintain the use of your card below 30% of your total available balance.
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Now that we’re done with part I and part II of our store credit card reviews, here are some final comments about store credit cards.
Sure there’s pros and cons, but overall if you have decent-to-good credit, it’s best to avoid store credit cards like the plague. The little discount you get from these cards isn’t worth it, because it’s a one-time discount for a life-time card. Why use a store credit card when you can use your regular credit card (which builds your credit also). Your real credit card can also earn airline miles or rewards points, which your store credit card doesn’t have.
Store credit cards should only be used if you feel that you can take advantage of the store. Either by using the card to raise your credit score, keep more of your own money longer, or to get yourself a discount, without ever paying them a dime of interest.
Finally, remember, store credit cards aren’t offered for your benefit, but for the store’s benefit.
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Part of the Ethernity
