Money Monday Tip #8
Here are 5 ways you can start 2008 off with some traction!
1. Transfer high interest rate credit cards to low interest rate credit cards. See if you qualify for a 0% interest rate, but do check to see if there is a fee for the transfer, usually it’s 3% of the balance. Pay off the principal as quick as possible.
2. Increase your retirement contribution, perhaps your 401(k), by 2% or 3% a year until you reach the maximum allowance.
3. Balance your checkbook. Most people don’t balance their checkbook, but always keep some kind of record of the transactions you have made or checks you have written. Doing so can save you hundreds of dollars in overdraft fees.
4. Instead of buying books and magazines why not check them out, or read them, at your local library. Many libraries now offer e-book downloads.
5. Throw your loose change in a jar and at the end of the year, use it to pay for something in cash instead of using a credit card.
Have a great ‘08!
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My name is Valerie aka Natural and I will be writing about whatever is on my mind. I love teaching, dialogue, sharing and making people laugh. I never know what I'll share here but this is me, Thinking Out Loud.
The cahnge thing is a biggie..I toss mine in a jar and then take it to one of those coin machines and convert it to bills…I usually have enough to pay for groceries for a week….
Did you read about the guy who paid for a new truck with $25,000 in loose change? He got the money from years of tossing coins into a jar. Here’s the link…
http://www.msnbc.msn.com/id/22373743/