Financial Information

Saving money is easier said than done. Nevertheless here are 4 fast tips that you can implement without very much trouble and that can help to save you a lot of money.

Tip 1: Track your spending.

Begin a budget that tracks your monthly spending. That will help you identify where you can cut back and help maximize your savings efforts.

Begin by tracking your spending for a month period. Track all of your monthly expenses, everything from the tip you give to the food store bag boy to the monthly home loan payment. At the month’s end, total your spending against your plan and examine where you performed well and where you did not. If you spent less than expected, move the extra into your high-yield savings account or use it to pay off debt.

Tip 2: Pay down high-interest credit card debt.

For many homes, the best return on money is to pay off card debt. Whether the APR is 10% or 25%, bank card debt is typically the priciest debt people have. Putting surplus money into repayment of bank card debts is a double-digit, risk-free return as it decreases the due balance and the resulting interest costs. This is a sound move as credit card rates are likely to move in only one particular direction — up– over the next few years.

When prioritising your debt repayment, start with the highest-rate card first and concentrate on paying down the balances in descending order.

Tip 3: Consider a rewards Visa card.

Do you always pay your credit card balance in full? If so, you are the ideal candidate for a rewards card. With a rewards card, you are rewarded in the shape of cash back, airline miles or one of the many other ways for everyday purchases you make. Check the type of reward that is most attractive to you and compare card offers based totally on what proportion of your purchases are paid out in rewards.

A 1% reward ratio is characteristic, but many credit cards have bigger payouts for certain classes of spending or for spending above a certain threshold. Finding the card that best fits your expenditure pattern can put hundreds of dollars per year in your pocket for costs you’d incur anyway.

The keys to success is always paying the outstanding balance and resisting the need to overspend purely for the sake of the reward.

Tip 4: Join discount sites.

Check for discounts on all the things you spend cash on anyway. Furthermore, for cell phone, satellite and other contracts which make you bleed money every month, phone the provider and ask for a reduction or you will consider going elsewhere. Better yet, find an improved deal somewhere else and ask them to beat it.

A useful option is to join a site like Groupon where you get ridiculous bargains. Nonetheless the key is to only take up a discount if you were going to use that product or service anyway. See the critical ‘Groupon Scam‘ post for more on how it works.

For more info on deals site, take a look at the critical reviews ‘Living Social‘ and ‘KGB Deals‘

New Delta baggage fees

The airline industry has been through a lot lately. Recession, terrorism, gas prices — and now it’s just slow travel season. So what is an airline to do? Well, Delta has decided baggage fees are the place to try to bring up profits. Now, Delta baggage fees are as follows: The first bag is $25, and the second is $35.

Since there doesn’t seem to be a lot of literature on anything beyond two bags, so it seems they’ll only let you check two. Of course, if you can’t fit everything you need into two bags, you might want to re-examine your priorities. Maybe you should trade in some of your stuff for secured loans.

The advantage of the internet

You could check them online, and bring the documentation. You’ll save a couple bucks – the first bag is $23, the second is $32. So if you are checking two bags, you can save $5 by checking them in online. Still, paying $55 to check in your bags, on top of the price of your airline ticket, is a little ridiculous, right?

Airlines usually lower ticket prices during January because very few people actually want to travel this month. That said, if you are checking any bags, those savings might be minimal, if anything.

Alternative plan

One of the big reasons to check a bag is because of the restrictions on carrying any liquids on planes. That said, try buying the travel sized versions of what you need when you get there rather than paying almost $60 so some suits at Delta HQ can get ivory back scratchers.

Carry-on only is the best way to go. It saves tons of time at the airport and gets you out of paying Delta baggage fees or anyone’s baggage fees. If traveling, only bring what is needed. Think of stuff that you can easily buy on your trip rather than packing it.

You’ve got the big event coming up, and you want it to be a special one. Only thing is, since the economy took a turn for the worse, the pennies are kind of tight at the moment, and getting some professional help is never cheap. Without spending a lot of money even your event can be successful.

• Cook the food yourself. Now with an event you’ve got hundreds of things to organise, and if someone has been hired to take care of it- that’ll help. BUT, you gotta save the pennies, and catering firms are one of the most expensive elements of a party. Another chore to be taken care of by you, but it’ll be cheaper for you to do it this way. Now, this could prove a blessing in disguise, as you will have total control over what you will be having at the event. So you can customise and make that one special dish for the vegan for example.

• Start calling in the favours. Now that you’ve decided to do this on your own back, you’ve got to get the hired help, depending on the size of the event. Call in those favours and get family members or anyone with time on their hands to help out. Get everyone who can help to help. This is not the time to be proud and try doing it all by yourself. You might have a friend who can DJ, or maybe even a beauty therapist who can do some pedicures or give out some samples of beauty products to guests?

• Use a cheaper brand when shopping. If you don’t mention it many of your guest wont even notice that you’ve swapped for a cheaper brand. The stigma over buying a cheaper brand or supermarkets own should be gone at this stage, especially when we’re in a recession. This will save on some more pennies, allowing you maybe to buy more or put that money saved into something else.

• Use your house as the venue. Not as glamourous at what you had planned, but it can still sit well with your guests. The money you’ve saved on not booking a hall can be put back into the bank. For bigger events you could even use a location out in the countryside for a touch if class, if you can get permission. For more information about event planning and spa days.