Savvy Spending: How to Use a Credit Card

I suppose that at this time of year, it’s hard not to abuse our lines of credit when we’re trying to spoil family members and friends with lavish Christmas gifts. Ideally we’ve been saving our paychecks instead to avoid using credit, or even handmaking our gifts for more special and cost-effective gift-giving (try BuyNothingChristmas.org for more cool ideas).

Being an ex-”credit card abuser”, I’ve compiled some tips to help climb out of debt, stay out of debt, and protect our credit score. Feel free to chime in with your own smart borrowing habits.

Continue Reading »

How To Save Money

With the holiday season fast approaching, it is more than ever necessary to save and use our money wisely.

Tips To Save Money

• Open a savings account with a high interest rate. Forget about opening a savings account at banks like Chase or Huntington Bank unless they offer excellent perks (usually not). Online savings accounts are where it’s at. HSBC currently offers a 4.5% APY on online savings accounts. I don’t know about you, but I’d like to see my $1,000 savings yield $50 in interest rather than $2.
• This is probably one of the hardest things to do, but quit spending on fast food and cappuccinos everyday. At least tell yourself you’re not going to, and try to stick to it. Even limiting yourself to three Starbucks treats a week can save up to $10. That’s money to be saved for a rainy day, or put toward something more worthy! (…Like a bill).
• Shop around for deals. Amazon and even EBay for example are amazing when it comes to scoring awesome deals.
• Buy off-season. Don’t shop for fashions right when they hit stores, when prices are highest. New spring/summer styles may appear in March, but don’t buy until May when a lot of it goes on sale.
• Buy in bulk. If you drink a lot of diet soda, buy six packs or cases rather than buying individual bottles.

See! You can be frugal and remain fabulous.