Money Saving Advice And Tips

[Jakatta]

I'm sure a lot of people these days get the money saving emails with all the financial tips and advice. However, not everyone does and also people might have some tips for saving a few pounds of their own that they might share with others.

For me personally, i've dropped the direct debit on fuel payments as they were rising the amount required far more than i could hardly pay out! It's ok for people with a good income who don't mind getting their 'own money' back at a later date, but if things are a bit tough, i've found it easier to put smaller amounts away for fuel bills myself rather than the higher direct debit payments which just put me in credit. I've heard some suppliers can be a bit difficult when asked to pay the credit back, so be prepared if that should happen.

Also read today that the APR on some credit cards is being hiked, for instance from 13% to maybe 18%. It seems there is a rule that if you don't borrow anymore, you can get said card company to leave the rate as it is so you aren't paying out more in interest charges. Check this out if the card you have rises it's interest rate.

[admin]

The are hundreads of ways to swing interests and fees so you have to take into account everything when dealing with cards and loans. Luckerly I live with an accountant :-)

But the best thing is to never use credit, that is alway pay off the card in full and in time. If you do anything less you are living behond your means and it will catch up in th end when something unexpected happens.

I would hate to be looking for credit at these times.

[Jakatta]

(10-02-2010 07:35 PM)admin Wrote:  The are hundreads of ways to swing interests and fees so you have to take into account everything when dealing with cards and loans. Luckerly I live with an accountant :-)

But the best thing is to never use credit, that is alway pay off the card in full and in time. If you do anything less you are living behond your means and it will catch up in th end when something unexpected happens.

I would hate to be looking for credit at these times.

Sadly some people have to use credit and can't always pay it off each month in full. If you live with an accountant you would know best, but i'm sure she would agree that finding a card with a long interest free period is the best way or, one with a very low APR for the life of the loan and pay off as much as possible when you can.

Pay off priority debts first so you don't get cut off with fuel etc, or thrown out of your home too, before sorting other things. That way you keep a good credit rating. I'm a bit old fashioned but i tend to live by - pay the bills, food on the table and warm home. All the rest is a bonus

Difficult times for many people so any info is always useful.

[Kickoff3pm]

The thing a lot of people don't work out when having cred cards is the fees. A lot of people move debts around to Nill interest periods but you need to also check the fee for doing that. Thats what I was pointing out.

As for people struggling? well thats a subjective subject. I know people who struggle but always have money for fags, drink, mob phones, sky tv etc etc I don't know how some people do it. We don't struggle now but we can't afford those things either.

[Jakatta]

I've just read about what happened to the site yesterday. I thought you had run out of money to put in the meter lol. See, i knew this thread would come in useful

With you saying about people having money for mobile phones and drink etc. Well, it's all about your priorities really isn't it and how you manage things and personal values. Some folks might need a mobile for one reason or another. I know some people borrow money for a holiday for instance which is a luxury so i wouldn't do that if really on the bread line, some people feel they need a break though.... You have to try and have small treats though even if it comes down to coffee and cake out each week or a bottle of beer etc as otherwise i think you would go on a real downer.

It's hard work having to keep looking at the comparison sites and keep changing suppliers and all that jazz all the while so i only do it if really necessary. I was just thinking of general tips to help really. Look at a computer for instance - not essential really for personal use, and yet, it is almost becoming so with people keeping intouch by email and libraries closing down so if you want to research anything you turn to the computer and all the costs involved in that. It would be one of the things to go if things got really bad for me i'm sorry to say