Good ways to save money & keep your credit score up
1) Always pay something on your credit cards, even if it's only $10. This keeps you in good standing with the company and your credit score will not be affected because you will be showing "intent" to pay. Also if you miss 3 consecutive months of not paying anything on a credit card bill it automatically affects your credit score and your score drops.
2) If you pay 1 extra payment on your home mortgage and note on your payment that it is for "principal only" you will knock quite a number of years off your payments. Lowering the principal also lowers the interest you pay. Also if you pay 1/2 your monthly mortgage payment then 2 weeks later pay the other half (on time) you can also lower your interest and pay your mortgage off earlier.
3) When you use grocery coupons or catch grocery sales it sometimes shows on your check out receipt ... "you saved $____". Take that amount of money and put it away where you can't touch it. Open a non-interest baring savings account with a company that doesn't "fee" you to death, and put the money in once a month. You'll be surprised how much you can save in a year.
4) Whenever you break a bill paying for shopping items etc. - drop the change in the bottom of your purse or in your pocket instead of your wallet and don't use it. When you get home, take the change from pocket or purse and drop it in a jar and don't touch it. It really adds up. Open a non-interest baring savings account with a company that doesn't "fee" you to death, and put the money in once a month. You'll be surprised how much you can save in a year.
5) If you are trying to invest in a stock portfolio, talk to your friends and see what products they use all the time and make a list of the ones that everyone uses, including yourself. Those are the stocks that you should consider. Everybody uses toilet paper, soap, toothpaste etc.
6) Save ALL of your receipts that reflect "sales tax" - sales tax is deductible on your Schedule A - Federal Tax return.
7) Start a Home Business, find something you really like to do, make, say or whatever you are just good at and see if you can make a business of it. Special occasion baskets, Cupcakes & Cookies, Bookkeeping, Special occasion handmade cards, etc. - with a home business you can take several deductions on your yearly income tax filing. Try something that has a low to no start up cost. You don't have to make a boat load of money, unless that's what you want to do, you can just make enough to make ends meet and have a little cushion to fall back on. |