Every day I give out advice on how to lower your bills, negotiate down your interest rate with your credit cards, etc…but I have to be honest with you…giving out the advice is one thing, but taking my own, honestly, well I haven’t!
That is until now. 2010 is going to be a new year for me. I want all of us to manage our money differently, and share our stories (hopefullly success stories) together!
Most of us carry some sort of credit card debt. I do. Quite frankly, I’m sick of it. I’m tired of credit card companies who increase interest rates just because they can. I have watched one card’s intererst rate go up to 29%! I have always paid on time, paid more than was required, but yet, why did my credit card company feel the need to jack up the rate? Not sure. But 2010, I’m fighting back! I want you to fight back with me. We’re just months away from new credit card laws going into effect, but I’m not quite sure how it’s going to help me and my current outragous interest rate. The damage has been done. I want to stop the bleeding now.
A few ideas:
I went online and checked out what credit card companies are offering 0% interest rates, found one offering it for a year. I applied. I read ALL the fine print and so far it appears there are no hidden fees. But be careful if you do the same. After the year is over the rates do jump, so make sure you can get out of it before they do, this one you can.
Another idea:
Contact a legitmate Consumer Credit Counseling Agency. I have worked for years with a local company that I find to be credible and helpful. Consumer Credit Counseling of Southern New England located on 117 in Warwick. I have never used them personally, just as “experts” for stories, but I feel confident to refer them to you.
CABLE BILL
Here’s another source of aggrevation. I have a bundle package that includes phone, internet and television. I pay $192/month, but 2010, remember, the new me? Well, I called to see whether they were offering any new programs for the new year! They are and I lowered my bill by $45! Not a lot, but you know what, every penny counts.
How did I do it?
No heavy lifting. I called, gave them my phone number and a few hours later a customer service woman called me back and told me about a few options and I chose one that was right for me. $45 dollar savings, that’s a dinner out (minus the cocktails!)
Budgeting.
I decided to write down EVERYTHING I spend $ on, and I mean everything. Since January 1st, I’ve kept track of every coffee, CVS and Target visit, and let me tell you, when you make the conscious effort to “jot” down what you’ve spent, you find yourself not wanting to spend! Seriously! It makes you rethink whether you really need that lip gloss from CVS, or those really cute hand towels at Home Goods, or the cute hat and gloves from Target. I don’t. Although those items make you feel good, a few dollars here, a few dollars there from those stores add up (and ladies, you know what I mean!!)
Credit Cards.
UGH! I love credit cards. I have 3. I’m forcing myself to leave two at home and only carry the one credit card that has the lowest interest rate. This is for EMERGENCY use only (and that does not include those cute hand towels at Home Goods either!)
Pay off the Credit Card with the Highest Rate first.
Duh. But I haven’t been. Now I am.
Grocery Shopping.
Another source of MAJOR aggrevation. I have 3 children needless to say our food bill is out of control. $200 on average at Stop and Shop. So, my new plan, re-evaluate what is in your cupboard. We waste so much food in our house. I have more opened, half eaten bags of chips, cookies, etc. Not to mention the abundance of frozen meats stashed away in the freezer! That’s because I can’t be bothered defrosting my meat, I just run to the store on my way home and by fresh and cook that! Ok, 2010, the new me…DEFROST THE NIGHT BEFORE. No heavy lifting, take the chops out of the freezer and stick them into the fridge and by the time you come home they’re thawed, PROBLEM SOLVED. Be careful with those individually packaged snacks. Those cost way more than if you simply bought the large bag of chips and put some in sandwich bags for your kids.
I know these ideas are simple, but sometimes it’s the simple things in life that are often ignored. I am determined to save money in 2010.
SAVING $ TOGETHER
I will continue to share with you some things that are helping me save. Please share some of your stories too!
At the end of January, I will tally up my spending vs my savings and see if I’ve accomplished my goal.
Susan!