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HELPFUL TIPS
Quick
Tips to Get You Back in
the Black
Excerpts Courtesy of
FosterFolly News
Saving money for your
future is hard enough
when the economy is in
an upswing, but the task
becomes even more
daunting during an
economic downturn when
consumers find
themselves struggling
just to pay monthly
bills.
In fact, the average
American goes $500 in
the hole each month -;
sinking further and
further into debt each
year. Depressing, right?
Here are a few quick and
easy tips on how saving
a little can add up to a
lot:
- Checks and Balances.
Get a better
understanding of your
monthly and annual
spending trends using
Mint (www.Mint.com), a
new online tool that
keeps member accountable
with balance and
bill-pay reminders. This
user-friendly site
boasts helpful charts
and graphs that provide
financial overviews at a
glance and will help you
identify where to cut
back.
- Reward Yourself.
Credit card debt adds up
fast. Finance experts
generally recommend that
you pay off
high-interest credit
card debt before you put
money into your 401k or
savings account.
In today's high-priced
world, however, cutting
out credit cards
completely sometimes
isn't reasonable, so why
not choose a card that
pays you? uTANGO
(www.uTANGO.com) is a
free rewards program
that offers substantial
sums of cash for
everyday purchases. Shop
using the uTANGO Visa
card to earn $50-$800
cash back each year and
up to $1 million at 30
years. Groceries, gas,
movies, dining out,
gifts, travel, and even
household supplies can
add up fast to earn cash
rewards.
- Dining Out Strategy.
Plan ahead and clip
coupons for your
favorite restaurants and
take-out places. If
you're savvy, you may
never have to pay full
price. Buying gift
certificates on
Restaurant.com can save
a bundle since a $25
certificate goes for
only $10. Pay attention
to the coupon section in
your local newspaper
(chain restaurants and
fast food coupons
abound), and don't throw
out those "clipper"
magazines (great deals
on local delis and
family restaurants).
Then stash your
restaurant coupons in an
envelope and keep them
close at hand. When you
can't make a decision on
dinner, the envelope
will make the decision
for you.
- A Better Use for Spare
Change. Money experts
often say that an easy
way to save is to empty
your pockets nightly and
place change in a jar or
piggy bank. But that
solution doesn't work if
you're often tempted to
raid the piggy bank for
a night out with friends
or a cute pair of shoes.
To increase your chance
of success, try the
reverse. Pay yourself
first. Put a small
amount -; whatever you
can afford even if it's
just $10 -; into your
savings as soon as you
receive your paycheck.
Then collect your change
daily and save it for a
fun indulgence such as
that hip new downtown
eatery or the latest
wedge heel sandals. An
added incentive? You'll
be inspired to save in
little ways throughout
the day to have money
left for your "fun
fund."
- Dress to Impress. When
you update your
wardrobe, don't forget
to donate last season's
clothing. Many charities
operate second-hand
stores, and they'll give
you an itemized receipt
for the value of your
clothing -; which turns
into a nice tax
deduction at the end of
the year. Not to mention
the "rich" feeling
you'll have from paying
it forward.
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