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How to Save Money - the Made Easy Guide to help you get your finances on track.
We live in difficult financial times and things can be tough for a lot of us as credit is squeezed, fuel prices soar and the global economic grinds to a halt.
We all need some extra money in our pockets each week. Most of us try to earn extra income - but the real secret is to save money by reducing your expenditures and using a plan to minimise the fees and costs you pay to financial organisations.
Do you want to save money?
We have a few easy tips on this site, and hope you can take our personal finance poll below.
How do I save money?
TIP 1 - Reduce your bank fees and the cost of credit.
Most of us have credit cards and we pay a heavy price for that benefit. Have a look at the interest rate you are paying on your credit card and the terms and conditions. Most of us are paying a few thousand dollars per year in interest and fees on these cards. Dont!
Every week financial institutions try to entice new customers by offering balance transfer arrangements with credit cards.
What this means is that you can open a new credit card account with the new bank, use it to pay off your old credit card and the new card will then have an interest free or very low interest rate period of between 6-18 months.So for that period you are putting the interest you would have paid to Bank A, into paying off the card with Bank B.You might gain a few thousand dollars for the year having done nothing more than fill out an application form. That is Easy Money, and that is how clever people manipulate the system for their own benefit. This is something you should be doing constantly.Swap your current credit card debt for new credit card debt - but make sure you close off the old accounts.
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