Blog Archives

Finding Money for Preparedness and More - Savings Your Employer May Offer

6/28/2015

Believe it or not your employer may offer some good savings deals.

Find out about all of the benefits of your job. Spend some time with an HR person finding out about all the benefits of your job – you might be surprised at what you might find. The most common employer savings are:

If the company you work for offers discounted rates for say computers and such, fitness center memberships, movie tickets and passes to summer festivals and sporting events, free personal improvement opportunities, take advantage! Check your corporate intranet or talk to your human resources representative.
If your employer matches retirement savings contributions, be sure to take advantage of that. Some employers match up to 100 percent of your contributions.
Use “flexible spending accounts” or FSA’s. FSAs allow you to pay certain medical, dental and child care expenses using pre-tax dollars. Enrollment is once a year with most employers. Also be sure to calculate your minimum medical, dental and child care expenses as if you over pay into these accounts you usually loose the monies.

Next week we will cover potential TV, phone internet savings

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Finding Money for Preparedness and More - Loans, Mortgages and Cash Advances

6/21/2015

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Finding Money for Preparedness and More - Credit and Debit Cards

6/14/2015

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Credit and Debit Cards are another place to save a few extra bucks

Make your monthly credit card payment on time. The $30-35 you save by not being charged a late fee each month on one card would save you most of the money you need for $500 in emergency savings.
Use debit and credit cards prudently. To minimize interest charges, try to limit credit card purchases to those you can pay off in full at the end of the month. If you use a debit card, don't rely on an overdraft feature to spend money you don't have. With either approach, you'll have more money available for emergency savings.
Use only the ATMs of your bank or credit union. Using the ATM of another financial institution once a week could well cost you $3 a withdrawal, or more than $150 over the course of a year.
Request a reduction in the interest rate on your credit cards. As with home equity loans, credit card companies sometimes are willing to reduce the interest rate. It can’t hurt to ask. If your credit card company won’t help you, switch to a low interest credit card or a one of several 0% APR credit cards.
Remove your credit card numbers from your online accounts: It’s easy to spend online when you have your card information stored in an account – just click and buy. The best way to break this habit is to simply delete your card from the account. That way, when you’re tempted to spend, you’ll be forced to spend the time to dig out your card – and really think about why you’re spending this money.
Hide your credit cards: If you are tempted to purchase something because a credit card is in easy reach in your wallet then; Take your credit cards and put them in a safe place in your home. If you argue that you need it for “emergencies,” just be sure to keep a small amount of cash hidden in your wallet for these emergencies. Don’t keep plastic on you until you have the willpower to not use it even when you’re sorely tempted.
Reduce credit card debt by $1,000. That $1,000 debt reduction will probably save you $150-200 a year, and much more if you're paying penalty rates of 20-30%. Better yet become credit card debt free!

Next week we will cover loans, mortgages cash advances

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Finding Money for Preparedness and More - Ways to Save with Your Bank/Credit Union

6/7/2015

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Find a bank that is for you:

- There are many free checking account plans, so there is no reason to pay a fee of any kind, maintenance or otherwise.
- Even though interest rates are not what they used to be, you can still earn some serious bucks with savings and banking accounts that offer interest.

Set up automatic transfers each month from checking to savings or after each pay check is deposited. Even as little as $10 or$15 a month helps. After all, that’s $120 or $180 a year.
Avoid bouncing checks and overdraft fees. Many banks and credit unions offer “overdraft insurance” that is free. This insurance is really an automatic transfer from savings to checking if a check come through within 3 business days of your paycheck deposit. The $20-30 you save by not bouncing a check each month would save you enough money to nearly fully fund a $500 emergency savings account.
Consolidate Debt: If you have debt spread out over say several credit cards, or “on account” balances from various services, ask your bank or credit union what consolidation options they offer. Often you can not only reduce the monthly amount needed, but the interest rate as well. The key here is NOT go crazy and rebuild your debt balances with these places. Remember: Taking out a consolidation loan, DOES NOT get you out of debt!
Participate in a local Investment Development Account (IDA) program. In return for attending financial education sessions and agreeing to save for a home, education, or business, you typically receive $2 for every $1 you save through an IDA program. So, saving $25 each month could end up as $900 at the end of a year.

Next week we will cover Credit and Debit Cards

TNT

"If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability."
Henry Ford

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TNTCrazyLady

I am a 60 Something, no longer so urban or in NM ;-}; Former 60's Flower Child; don't believe in taxpayer subsidized special interest groups (political parties); DO believe in the Constitution and Bill of Rights (1st 10 the most); Long time Independent & Informed Voter; I believe in World Citizenship NOT world government; Lover of the outdoors and firm believer that History Teaches - if only we will listen!

Finding Money for Preparedness and More - Savings Your Employer May Offer

Finding Money for Preparedness and More - Loans, Mortgages and Cash Advances

Finding Money for Preparedness and More - Credit and Debit Cards

Finding Money for Preparedness and More - Ways to Save with Your Bank/Credit Union

TNTCrazyLady

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