10:24 AM
Kholid Al Fakhry
With the struggling times we are having in the economy there are still ways to have freedom in your finances here are some tips to help you get started.
Instructions
- Make a realistic budget. Start with the things that are necessary. Take a look at things see where you can cut corners.If you have any money left over budget for an occasionally luxury like movies, eating out.
- Ask for a lower credit card rate. Just take five or ten minutes to call up your credit card company and ask for a lower rate.
- Create your rainy day fund. Have cash on hand for a flat tire, leaky roof start putting money aside for emergencies.
- Pay alittle extra. Making minium payments to your creditors does not help you dig out of debt. Some companies c ompound interest daily, so every time you pay extra money you not only reduce the principal amount but also the amount of interest you will pay over time.
- Just say no to bad debt.Take a hard luck at the type of credit you are using and how many credit lines you have. Start saying no when store clerks ask you to open an account. Say no to extra spending and charging on the credit cards you already have and pay off as many as you can.
- Build better credit. Try to pay bills on time. Check your credit score regularlly.
