JN Comfort
Tuesday, December 11, 2018

Curb Your Spending Appetite

If overspending is putting you in debt, you need to cut back. Go on a spending diet. It may seem worth it to spend frivolously now, but down the road, as the bills and interest pile on, you’re going to wish you had cut back sooner. Follow these tips to slash your spending and accumulate less debt.
 
  1. Take with you only the cash you need to make a planned purchase. For example, take only the amount you need to buy your groceries; leave your debit or credit card at home.
  2. Wait a bit before you make the purchase. Most people who do this wait anywhere from one day to thirty days before making a purchase.
  3. Calculate the amount of hours you had to work in order to pay for the item. Warning: this step is a little painful to think about.

Find a Match that Respects You

You’ve been with the same bank for years, things have changed and you’re not sure you want to continue this relationship any longer. Look for these qualities when searching for your perfect bank match:
 
  • Find a bank without a required minimum balance.
  • Find a bank that doesn’t charge to handle your money.
  • Find a bank without ATM fees.
  • Find a bank that doesn’t limit transactions.
  • Find a bank with account information online.

The Plastic Meltdown

Credit cards are quick and easy, but if you want to avoid financial crisis, cut the cards and do your best to get out of debt.

What Should You Do?
  • Pay bills on time, pay more than the minimum due and never miss a payment. According to the Cambridge Consumer Credit Index, 42% of Americans either pay the minimum or make no payment at all.
  • Make a list of purchases. You will be able to see just why it is you’re in debt, and where your budget could use a little tightening.
  • Seek help from lenders. Contact lenders to see if they will consider lowering their interest rates as you try to get back on track.

FREE Weekend Activities

Have time this weekend to do something, but no funds to spend? Trent Hamm of The Simple Dollar has compiled a list of a hundred things to do on the weekend without spending a dime. Here are a few of these activities:
 
  • Take a look at your community calendar online or at your local community center or city hall. There may be a free event, concert, festival or arts and crafts fair in your area this weekend.
  • Conquer your to-do list. You have time! And you’ll feel much better after it has been done.
  • Pull out an old board game, card game, book or puzzles for hours of entertainment.
  • Do healthy activities. Rejuvenate with a nap, de-stress with meditation or get in some physical activity with a workout. Jumping jacks, squats, crunches, sit-ups, lunges and other exercises require no equipment.
  • Purge clutter and have a yard sale. Not only will you not be spending any money, but you may actually earn some money!
 

Money-Saving Tips