Manage Credit Wisely - SAVING TIPS
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TODAY'S SAVING TIP
A lot of people spend more than they can afford and pay less toward their debts than they should. To get control over your finances and to manage your debt, try:
Budgeting—In many cases, people design and then stick to a budget to get their debt ... Read more |
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SAVING TIPS: Manage credit wisely
Borrowing can help you meet your long-term goals for an education, car or home. But borrowing for day-to-day needs and wants gets many people into financial trouble.
TRY THIS: Before using your credit card, getting a payday loan, renting-to-own or borrowing against your home's equity, ask yourself if you really need to borrow the money.
Avoid spur-of-the-moment purchases.
Set a monthly limit on credit card charges.
Pay more than the minimum on your credit card bill.
TIP: THE MINIMUM PAYMENT TRAP
It would take 61 years to pay off a $5,000 credit card balance if you make only the minimum monthly payment. You would pay almost $16,000* in interest!
* Assuming a 14% interest rate and minimum payment of 1.5% of the outstanding balance.ADDITIONAL SAVING TIPS RELATED FACTS
Save On Major Appliances
Plan & Budget Your Vacations
First Mortgage Loans
Auto Insurance
Paying For Your Child's College Education
Purchasing A Car: Considering A Service Contract
Trading In Your Old Car
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