In these economical times it might be wise to look a bit on our personal spending. There is much that could be saved by simply choosing how we use our money more wisely.
The first way should be to get away from some of the debt we have on credit cards; the simplest way is of course to stop buying on credits, and start paying more to get away from credit cards.
The truth is; we often pay 2-3 times as much for items we buy on credit cards; it’s really stupid; still we go into the trap.
I am sure neither of us would voluntarily pay twice or three times as much for items we find at shops. So please, do yourself a favor, start paying more on the lowest credit cards till you have paid them down, continue with the second credit card, and continue paying more on each credit card till you have removed all debt on credit. If you like you could start paying some of what you paid on credit debt on your house mortgages.
A way to get more money to pay down your credit debts is simply to be more aware of groceries and items you buy. The truth is most time we go shopping we add some items that we never intended to buy till we came to the shop. And let’s face it: we waste a lot of money on these items. If we make a good list, and choose to buy it from where we get it cheapest we might easily save 10-50 dollars each week we could use to pay on our credit cards.
I would also recommend to only go shopping a few days each week instead of buying groceries each day. We use the same logic as we use by using a list: we avoid buying these unnecessary items. If there is still a item you need that is not on your list: ask yourself if it is something you really need, or if you can get along without this item.
When you are looking at cheapest items to get on your list; be aware of transportation expenses as well; it cost getting gas to the car, it cost using the car, insurance etc. You should avoid to large expenses driving, and if it’s cheaper go to a place far away; you should make sure you buy several items.
I found these tips, and more at Enlightened Individual/Money Development.
The best way to create wealth is to learn small tricks on saving money, and use this money to pay down our debt or investing them.
