Today I'd like to look at some of the key players in the game that will prevent us from saving money.
- Credit Cards. I recommend having only one low
interest credit card for emergencies. Last week I mentioned that it might
be good to hide it. However, if there's only one and its designated
for emergencies-practice restraint.
- Interest Rates.
Interest rates can cause you to waste countless dollars without even
attacking your principal. Attempt to lower your interest rate when
possible. If you are unable to do so, attack your bills with smaller
interest rates aggressively and once those are paid out, apply those
monies to the higher interest payment.
- Mindless Spending.
In order to save we must put restraints in place when it comes to
spending. We've covered so many helpful ways to monitor spending. Put
those things into practice. Bring your lunch to work. Try free family
entertainment at home. Instead of buying new clothes every time, try
consignment. Grocery shop with coupons and watch circulars for
specials. I could go on and on, but you get the point. Stick to your
budget.
- Wasting Energy. We've also covered this
topic. Conserving energy is necessary. Now that the weather is
changing get ready to turn on the ceiling fans and open the windows.
When you must use your AC unit, make sure its programmed to function
when you are at home. Otherwise you're wasting money.
- Hoarding.
This act causes you to unnecessarily store items, which in some instances means
spending money on storage containers and possibly storage units.
Don't hoard, consign, discard, donate or have a garage sale.
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