Finance and Retirement #3

A Dollar Saved is a Dollar Earned

Did you know that saving money is the exact same as making money? Lets say you purchase a car and the price is $10,000. If you are a good negotiator or shop around you could probably find the exact same car for $9000. You just saved or made yourself $1000. I like to use the words saved and made interchangeably when it comes to money, because saving money is the exact same thing as making money only you did not have to clock in to do it. A wise investor knows the value of waiting for a good deal to come around, wait until the item is on sale or even couponing. Never buy on the same day or be pushed into a deal, remember this is your hard earned money and only buy on your terms, when you are sure you have gotten the best deal possible. The more money we save, the more we can invest for our future.

Additional ways to help you save money

Never buy a new car, always buy a car 2 years old this keeps what your paying for the car close to the real value of the car. Eat out sparingly, we all love to go out to eat at our favorite restaurant but limit it as much as possible. Do your own lawn work and fix the things around the house that you are capable of fixing. With YouTube at our disposal their is no excuse not to know how to install a ceiling fan or replace a sink. Don’t pay for what is free, there are many trial offers out there today and one should take advantage of the services that you can get for free for a limited time, all you have to do is shop around. Remember  every dollar saved is a dollar made and it will all add up come time to retire.

 

The does and don’ts of Credit Cards

When it comes to credit cards there is many things to consider but here are a few tips. Never get a credit card that has an annual membership fee. Unless you have no choice and you are building your credit then after one year of solid payment history cancel it and apply for another one with no annual membership fee. The biggest rule to remember is your credit cards should just be used  for emergency’s only, that’s why its important to have adequate savings. Credit card companies love people who pay the minimum payment every month and stay with a continuous balance with them but strive to keep your balances to a minimum or even paid off completely. If you have your cards maxed out and no available credit on your credit cards it says something about your lack of financial responsibility and this will impact your credit rating negatively. The more responsible you appear to be able to handle your credit the better the credit card offers will be and come time to buy a house or car your interest rate will be lower as well. For more tips on credit cards visit this site.

 

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