Credit Card Challenge

Hey everyone!  Continuing with the credit card topic, I am presenting all of my readers with a challenge.  I challenge you to not use your credit card for this entire weekend.  Even if you have the money in the bank, don't use your credit card.  This is to help you become more disciplined in the future.  As I said, we'll start out with just this weekend, and slowly increase the time in the future.  After we discuss credit cards next week, you'll feel great about your ability to begin cutting your debt, and saving more money!

Everyone have a great weekend!

Next Lesson: Getting Rid of Credit Card Debt

Starting today, we’re going to head back to the budgeting aspect of our new savings plan.  Many people out there today have credit card debt, and don’t realize how much they’re paying in fees and interest.  If they could just get over the “hump” and get them paid off once and for all, and get used to paying it off every month in the future, they would have more cash in their pocket, along with a newfound discipline of spending less than what they make. 

Now, believe me, I have been there where I paid interest every month, mostly to my favorite department store (thanks Dillard’s).  However, I was finally able to curb my spending and get it paid off about 10 years ago.  I am proud to say that since then, I have only paid interest by accidentally overlooking my bill.  So, in the last 10 years, I’ve probably paid a total of $10 in interest, although I have also earned enough reward points for 4 nights in Las Vegas, including meals, and several random hotel stays at other places.  It’s fun for me to watch the reward credits add up and not pay any interest to the credit card company.  They might be making money from the merchandiser, but I am also receiving rewards for simply using my card, and paying it each and every month.  If I was using a debit card, this would not be any different.  It’s the same mentality, just a different way of doing it. 

So, for this weekend, start thinking about how much credit card debt you have.  Are the items you have in exchange for that really worth it?  Wouldn’t you rather be able to pay cash for everything, keeping that interest you pay to the company?  I know I sure would.  Beginning Monday, we’ll start a weeklong plan to get you ready to knock out the credit card debt and on your way to paying cash for everything! 

Money Saving Tip: look at your receipt

With the economy in the state it is today, some people are looking to squeeze that last little bit of savings in. Companies are also looking for valuable information, hoping to lure you to their store first. With that said, always check your receipt after a purchase, to see if they offer a reward for completing a survey. I've seen restaurants and stores do this. It could be that your next trip might get you 10, 15, or even 20% off. It might even get you a free entree somewhere. My example: I go to a well known Tex-Mex restaurant, the receipt offers a free full size burrito for free, in return for a 5 minute survey. So, I do the survey, and get a burrito (a large burrito at that!) and a drink for under 2 bucks. They also offer free chips and salsa. Now, this is what I call a deal!

If you'd like more information on some of these places and who they are, just drop me a line! Thanks, and have a good day!

Back on Track

Okay everyone, sorry I have not been updating much lately.  I've been sick with the miserable bug going around, and while still recovering, doing somewhat better.  With that said, I am a little behind on posting my budget example, but here it is.  This should show you what your new budget should look like.  Keep in mind, we'll create one of these for every month of the year, so we can keep a running tab on how much you've spent and saved.  I've created a link on the right side of my page called "Budget Example" under the "Helpful Links" that contains the spreadsheet. 

On another note, I hope you've been getting some good savings on Christmas presents so far this year.  Remember, we are hoping that by creating your budget now that next year at this time, you will already have the money put back to spend on presents for birthdays, holidays, etc.  With that said, I want you to commit to having your budget ready to implement by January 1, 2012, as I understand that the holidays can be busy.  So, just commit to not overspending this Christmas, and be prepared to start your new budget next year. 

As always, if you have any questions, please let me know!  Thanks everyone, and have a good day!

Black Friday results

I heard today that this years Black Friday was the biggest ever for retailers. From what I remember, 1 billion more was spent this year over last year. You may have read my post from last week about the site called ebates. We spent $135, and got an additional $9 back. They had some great deals, and this made it even better! Trust me, there are so many ways to save money!
On the other hand, I will post my budget example this week. I apologize for the delay, as I was out of town. Thanks for your patience, and happy saving!

Weekend of savings!

Hope everyone has had a good weekend. I was able to find one good deal, found on Groupon.com. It was $40 in clothes to Old Navy for $20. That's a great deal, and 50% off! Other than that, I didn't find really anything I needed on Black Friday. Bummer. Iwas hoping to get a little Christmas shopping done, while scoring some major savings!