Credit cards have become a normal part of life. There are even merchants that no longer accept cash or checks now, such as airlines, hotels and car rental agencies. If you don’t qualify for a credit card or are committed to living a debt-free life, you may find yourself having trouble living without the plastic.
Read on to discover 3 ways to live without a credit card.
You’ve always heard to stay away from using your credit card. But when used responsibly, a credit card can actually be a useful tool. With a credit card you can keep track of your purchases so you can budget better. With a credit card you don’t have to carry cash which can be lost or stolen. Using a credit card can also give a boost to your credit score. So using your credit card isn’t all that bad after all.
Here are 5 specific times when you would want to use your credit card instead of cash or a debit card.
When people make mistakes, especially financial ones, they often times try to rationalize their behavior afterward. But there is no valid excuse for spending your way into credit card debt. Here are 5 of the most common excuses people use to justify their overspending.
It is so easy to overspend. How can it not be? After all, spending money on yourself and your loved ones feels good, doesn’t it? You feel empowered. You feel free. You feel like everything is possible. You feel like you can directly impact your world. Sadly, all these feelings go down the toilet once you get that monthly statement from your credit card company.
It’s a fact that in recent years cell phone bills have exploded. What was once a luxury item is now considered by many to be their primary forms of communication. Much more than just simple phones, today’s cell phones can make calls, send text messages, take pictures and even surf the net. The all-in-one devices come with a hefty price tag as well.
With tax season right around the corner, you’re probably dreaming of getting a big fat check from the IRS. While getting bonus money is always a great feeling, too many people run out and spend the check before it even deposits in their bank accounts.
Rather than blowing your IRS return this year, look at 4 things you can do with your check that will actually benefit you for more than a couple hours of retail therapy.
With the new year in full effect, many people are resolving to lose weight. Weight loss can lead to a healthier, more active lifestyle and can even prolong your life expectancy. Obesity in itself is expensive due to increased costs of clothing and medical care, however losing weight isn’t cheap either. Read on to discover 5 hidden costs of weight loss.
Most people travel at some point during the holiday season. Whether you’re headed to your in-laws house or on a special family vacation, the roadways, airways and railways experience higher than normal traffic as soon as the weather cools down and things start looking merry. Choosing the credit card you use to pay for your holiday travel expenses carefully can lead to some pretty nice rewards for yourself.
When it comes to saving and splurging, many people aren’t sure which items are worth the full price and which they can be cheap on. Knowing which items to save on will help you spend less money without sacrificing quality. Read on to discover three items to save on and three items to splurge on.
1. Cars. Buying a used car will save you thousands of dollars. Make sure the car was well taken care of and buy it from a reputable source to minimize any hang-ups you may encounter.
2. Clothing. Buying used clothing or off-brand clothing is a great way to save money. Often, you can find barely used or new items at thrift stores for a fraction of the retail cost. Just be sure to thoroughly inspect the items before purchasing and wash them before wearing.
College is as expensive as it’s ever been. With tuition rates on the rise yet again college is becoming almost impossible to afford without accruing tens of thousands of dollars in student loan debt.
But don’t despair just yet. There’s a way that you or your children can still afford to go to college. Here are some tips to help pay for college.
I’ve always felt that schools should educate the youth on practical things like personal finance, rather than on memorization of facts. But this responsibility falls solely on the shoulders of parents. TD Bank recently surveyed 1,637 parents to discover some facts on the financial knowledge of parents and how, if at all, parents are educating their children about financial matters.
Here are some of the more interesting facts I found in the survey by the numbers.
After every Christmas season your stockings are surely full of presents you certainly appreciate, but do not necessarily want. If you receive an ugly sweater with no gift receipt your options are limited. But if you get a gift card you don’t want, you have several options. You can use it, trade it or sell it.
If you receive a gift card that you don’t want, you can still choose to use it. Visit the store online and see if there is anything they sell that interests you. Since the person who gave you this present has already spent their money on the gift card, you really shouldn’t throw it away. Another way of “using” your gift card is by re-gifting it to someone else who you think will appreciate it.
Cutting expenses is becoming more and more of a necessity in these uncertain economic times. If you find yourself struggling in your finances, then you’ve probably developed your own methods for reduced spending. However if you’re trying to cut costs and still find yourself overspending, consider these four methods to consider for living a more thrifty lifestyle.
Before you consider anything else, draw up a budget. Look at your finances: what money you have right now, what money you can expect to have in the near future, and what money you. Estimate a figure that you can reasonably adhere to every month and stick to that number. If you can, try to keep your expenses below your set limit so you can have start saving a small amount every month. If you have a clear budget then you’ll be less likely to indulge yourself with unnecessary expenses because you’ll know exactly where your finances stand.
This blog is certainly about being frugal and saving as much money as you can. But there are indeed times when it is wise to pay top dollar for something. I’ll be going through a list of items here where it is okay to spend big money.
During a global downturn, travel becomes a privilege that few of us can afford. However, if you have some vacation time ahead this summer, then by carefully budgeting and planning you can enjoy a fantastic summer vacation. Below are our top 5 tips for budget vacation:
Driving used to always be more economically viable than flying. But that is not always the case. Depending on the cost of gas at the time of your planned trip, it may be cheaper to fly, not to mention faster. When driving, you’re incurring not only the cost of gas, but on vehicle maintenance fees as well.
If you have a credit card do you know how to use it wisely? Having a credit card is a lot of responsibility. New credit card users especially can get carried away with spending and before they know it they could have a pretty hefty bill with no funds to pay it. If you are going to use a credit card you need to take responsibility of ownership. Here are some great tips that you will want to follow.
Having credit history will make it easier for you to borrow money later for things like a car or a house. Having a good credit score also makes it possible to borrow money at a lower rate. One of the best ways of establishing your credit is through the responsible use of credit cards.
If you’re young and want to get a credit card, you’ll most likely be denied for having no credit. But that was the reason you wanted a credit card in the first place, to build up your credit. So what can you do? There are some options I’d like to discuss that will help you get your first credit card.
If you’re trying to save money the biggest roadblock in your plan can be spending money foolishly. Here’s a list of the most common ways people waste money.
Maximizing your bigger purchases with your credit cards can be beneficial in several ways. If you use your credit card for large purchases you could potentially be saving money. A large purchase can be anything from a car to a TV or that luxury holiday you’ve been waiting for.
First off, if you have enough money to pay for the actual item, at the end of the month, you can pay back everything that you owe due to your recent large purchase; this will improve your credit score and show that you are able to service large debts.
We all have had times in life when we have to cut back on expenses or change our way of life. Those were difficult times because it was a change of lifestyle. Downgrading is never a good experience to go through, especially when it’s forced upon you by bankruptcies or mounting debt.
But have you ever considered downsizing your lifestyle, even when you don’t need to? Learning to live on less doesn’t mean you can’t live a fulfilling life. In fact, some of the most rewarding things in life are things that don’t require you to spend a dime. Here are some free and low cost things you can incorporate into your life.
1. Think used cars break down? New cars break down too and are costlier to repair. It can also be more difficult finding parts for a new car rather than an old one. You’re also more likely to repair a new car at the dealer, while taking your used car to a cheaper auto mechanic.
2. The thinking of some is “Why buy a used car if I have to buy 2 used cars in 10 years, I’d rather just buy 1 new car for 10 years”. But it’s not true that a new car will always outlast an old one. A properly maintained used car can last you 10-15 years.
3. Buying a new car means paying more taxes. When you buy a car from another person you just pay for the cost of the car, while at the dealership you pay for the car and all sorts of other fees.
1. No credit history - Having no credit history is almost comparable to having a poor credit history. Lenders are hesitant to loan out money without knowing about how you have previously handled loans before.
2. Too many credit applications - Making a number of applications in a short period of time will probably set alarm bells ringing in the ears of creditors. They’ll think that you keep getting denied and are desperate for money fast.
A house cannot be run without having a budget. If you’ve never done a budget before, start with a simple budget. First, total your monthly income. Second, track all your expenses for that month. Lastly, do the following math: income minus expenses. That’s the gist of what a budget is.
If your result shows more income than expenses you have a surplus. You can use this money to pay down debt to eliminate it faster or you can put it into a savings plan.
Sure every now and then you want to hit up a restaurant and there’s nothing wrong with that. I’ve amassed some tips though on how you can keep the expenses to a minimum.
- Go during happy hour and sit at the bar. Contrary to what you might think, it’s not all about the drinking there. Usually appetizers are half off as well as alcoholic beverages. I’ve found that appetizers can be as big as an entree but cost way cheaper.
- Share a drink or get water. A soda will cost you nearly $3 so if you don’t need one, save some money and sip on some water.
- Pay with cash in exact change. Your server doesn’t really like it when your total is $17.12 and you give them a 20. You’ll just be sticking them with 2 dollars and 78 cents to take home. Instead give them $20.12. That way you get rid of spare change and they get an extra dollar.
- Skip the dessert. You might have gotten used to ordering an appetizer, entree and then dessert bit that’s really too much. Your entree alone probably has a thousand calories as it is already.
When you’re rushed and want a quick bite nothing brats going to the drive-thru but those quick trips can quickly add up if you make them daily. For example some of those combos can cost about $5-$7. Here’s some quick tips to save on those fast food cravings.
- Order from the dollar / value menu. McDonalds has he McChicken and McDouble while Jack In The Box has a delicious Big Cheseburger for a buck.
- Skip the fries. I know you think that your meal is not complete without fries but you can live without them. Fries cost almost $2 while you can buy a potato for about a quarter.
- Get your drink at home. Sodas at these joints cost almost $2. A can of soda when you buy a 12 / 24 pack at the store only costs about 35 cents. These places make their money on the soda, not the sandwich.
- Finally, pay with spare change. Don’t let your change accumulate. Pay in quarters, dimes, nickels and pennies. That way it’ll feel like you almost got your snack for free.
