Tag Archives: saving

Trick Yourself into Saving More Money

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While you may not have gotten a raise, you can still save more money if you introduce smart saving habits into your daily lifestyle. Being able to save really just means you take a closer look at the ways you manage and spend your money, then find avenues for putting cash away. Creating rules to follow and developing smart habits will change the way you think about your cash flow, and can be a great way to trick yourself into saving more money.

Use Cash

Striving to use only cash will cause you to force yourself to pay closer attention to how much money you really spend every time you go out, to the grocery store or clothes shopping. The trick is to put your plastic away so you feel like you don’t even have it to use. You may also want to consider removing your credit cards from easy pay and 1-Click settings from your online accounts to make it harder to make purchases. You might be surprised at how much less you want an item you see online when the added difficulty of typing in your 16-digit credit card number is in your way.

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Check Your Credit Card Statement Every Month

Your credit usage may have run away from you because you are like the thousands of other people who do not check their credit card statement every month. Looking at how much money you spend and the places you spend it is a good way to make yourself think about your choices in a more deliberate manner. Seeing that you spent $80 at the bar instead of the $40 you planned may shock you into being a little more careful next weekend, or realizing you spend half of your paycheck on new threads may encourage you to create a budget for your wardrobe.

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Good Things Come to Those Who Wait

Attorney Leslie Tayne who writes for Fox Businesses advises you wait five days before making a big purchase. While that hot tub sale is enticing, give yourself five days to ponder whether a hot tub purchase is really in line with saving for your kids’ college tuition. Thinking about what you want to buy is a great way to prevent yourself from spending too lavishly on items you don’t need. A bonus benefit of waiting to buy something is that it gives you a chance to find a better deal, whether you look online or in competitors’ stores.

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Ignore Extra Income

Even though your surprise income may look like it has “jet-ski” written all over it, try instead to imagine it saying “Save me!” and put it away into an account you don’t use immediately. Tayne advises that you only rely on the money you make regularly to make big purchases. That means you should take that big fat tax refund or even the $10 you found in the parking lot and put it toward debt or into a savings account. Extra income is anything outside of the realm of your weekly or monthly income, including cash you make from selling your unneeded wares, (like diamonds that you sell with us!) By putting that extra cash away, you’ll never be tempted to dump it down the drain on something you don’t need. The unexpected kind of money is best spent by not spending it at all.

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Automate Everything

Investopedia advises against taking care of your financial business on a day-by-day basis. Instead, get your employer to deposit portions of your paycheck not only into your checking account, but into your savings account and IRA as well. In addition, set up your credit cards to pay off the balance each month, not just the minimum. A penny paid off is a penny and a half earned in the credit world, because each time your balance equals zero, that means you don’t have to pay annoying off bank fees later in life.

Saving money is really just about changing the way you look at money. If you don’t let it burn a hole in your pocket and instead let it burn a hole in your debt or build your savings, you’ll be on your way to securing a bright financial future in no time.

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Single and Broke

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Dealing with Post Divorce Financial Stress

Divorce is tough.  There is the natural emotional turmoil that occurs, potentially irksome new living situations, possible missteps in considerations of custody – and then there is the financial hole one can find themselves suddenly in.  Divorce can be devastating to your psyche and bank account; but there are several ways you can successfully combat the latter. Continue reading Single and Broke

Living With Debt: It’s Not That Bad

Diamond-Lighthouse-sell-your-my-diamonds-unused-unwanted-jewelry-financial-stressAhh!  You just attempted to pay for your morning coffee with your debit card and the girl working at the register’s brow furrows… “I’m sorry, it’s not going through – do you have another card?” …No!  You don’t!  Now everyone behind you on the line is growing impatient.  An angry man butts his head in “If you can’t pay, move it!”   Another, irate lady chimes in “Why don’t you just leave?”  You well up with embarrassment and run out into the street, tears streaming down your face.   Your ex and their new, fashion model lover see you and they unsuccessfully stifle laughter.  Your pants then split down the middle.

Sound familiar? Continue reading Living With Debt: It’s Not That Bad

What to Do with Your Ex’s Stuff

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photo via Tag-Art

As you clean out the garage one day, you come face to face with a large cardboard box.  Hastily written on the side in marker is “THEIR JUNK.”  You’re then faced with the ultimate dilemma: keep, return or throw into the river and watch it float out of your life for once and all.  What’s the right decision?  When the time comes to ask “What do I do with my ex’s belongings/presents they got me/things we shared?”, you may need guidance in dealing with this potentially mentally Sisyphean task.

To simplify this, there are 3 essential categories that each item can fit into. Continue reading What to Do with Your Ex’s Stuff