Owning a Credit Card - should we avoid them entirely?

Definition of 'Credit Card'

A standard-size plastic card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. It is a plastic token that are a convinient subsitute for cash/cheque transactions as part of the essential electronic components.

Many tend to believe Credit card is a means to an end in their financing due because often users spend recklessly out of the experience of convenience and satisfaction the card allows and ended up with a debt at the end of the month. However this is like avoiding power tools because they are more dangerous.

A Powerful Financial Tool

Credit cards will not help you achieve financial freedom, nor will they send you to financial hell. A credit card is simply a financial tool that must be used with care. There are pluses and minuses to consider, and when used responsibly credit cards can make your life easier.

Benefits of Using Credit Cards

• You can make transactions without on available platforms that can't be done with cash/cheque — e.g., online purchases
• The convenience and ease & fast transactions as well as automations — e.g., automatic bill payments, etc.
• You get to enjoy cash back bonuses and reward points that certain credit cards offer.
• It’s easier for you to keep track of your purchases.
• It’s safer than carrying around physical cash.
• You are better protected against fraudulent purchases and you can often get your money back.
• You won't loose your money for loosing your credit card (provided you cancel the card from the bank before falling to other people's hand)

Additionally, there are other benefits depending on the specific card that you use such as Low to No interest rates/discount on physical purchases/ rewards points & complimentary benefits

A Few Reasons Why You Should NOT Use Credit Cards

• You are easily swayed for impulse buying and spend more.
• Racking up a big amount of debt at the end of the month without noticing it.
• If you do not pay your balances in full, you could end up paying a lot of finance charges.
• You could be hit with expensive fees — e.g., late fees, annual fees, etc.
• Irresponsible use of credit cards could wreck your credit scores.

So owning a credit card is a very subjective manner, it has its fair share of benefits as well as its weaknesses. However one should not disclose credit card as a plastic that would plunge you into financial hell. Like any tools, its up to the owner how it is being used and not to fear the tools itself.

Those who are considering to apply for credit card for the first time, don't miss out and read the "5 tips for Choosing Your First Credit Card" to get the most out of your credit card experiences.

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

CLICK ON THE IMAGES BELOW AND FIND OUT MORE ABOUT THE SHOE-IN MONEY.

SO COME IN AND FOUND OUT HOW I DO IT!

Choosing Your First Credit Card

One of life’s rites of passage — whether right or wrong — is getting that first credit card. When used properly, a credit card can help you create a good credit history that will serve you well when it comes time to buy a car or a home. When used irresponsibly, though, credit cards can result in debt and despair. One of the things you can do to encourage good credit habits is to choose your first credit card wisely.

Who Can Get a Credit Card?

First of all, it is important to note that credit cards aren’t as easy to come by as they used to be. In certain states, you have to be 21 in order to get a credit card, unless you meet the following criteria:

• Parents or guardian to co-sign the card with you
• A spouse who is eligible to co-sign with you
• You have proof that you can cover your credit obligations - (this normally means job)

Develop a Banking Relationship

One good way to get your first credit card is to establish a banking relationship. Open an account at a bank , and start using it. A savings account is a good idea, but you want to make sure you have a checking account as well. Use the debit card with your checking account wisely, and you will show your level of responsibility.

After six months or so, if you have proven yourself, you can go in an ask about getting a credit card. A credit card issued by your local bank or credit union. Once you show that you can manage your credit responsibly, paying off the card each month, you can get an increase in your credit limit, and you will see other credit card offers, with more attractive terms.

What to Look for in Your First Credit Card

If you decide to branch out beyond your bank for your first credit card, you want to make sure you are getting the best possible deal. This means shopping around a little bit, and not making your decision based solely on what swag is being offered by representatives trying to sign you up. Here are some things to look for in your first credit card:

1. Reasonable interest rate: As someone without a credit history, you will have to pay a little bit higher interest rate. That is to be expected. If you are a student you might compare student credit cards, since they offer rates that are comparable for credit history. If you have some history, such as a car loan, or a student loan, than you have been making payments on, you might be able to qualify for a slightly lower rate.
2. No annual fees: Make sure your first credit card does not come with annual fees, or with application fees.
3. Consider rewards: Many credit cards come with rewards programs. Before you choose a card, make sure the program is something you will use. Don’t choose a travel rewards card if you are unlikely to use your airline miles. If possible, choose a flexible rewards program that allows you to use your points on a variety of options. Some student cards also offer rewards points for engaging in responsible behaviors, such as making your payments on time.
4. Penalties: Some credit card issuers are starting to mull the idea of charging inactivity fees and similar penalties. Look for a credit card that will not charge you just because you haven’t been using the card. Also, compare fees like late payment, over the limit and cash advance fees.
5. Introductory rates: Many cards offer introductory rates. Make sure that you understand when that plum rate ends, and be prepared to have purchases paid off by then. Another possibility is to start out with a secured credit card. However, you want to make sure that fees are limited, and that the issuer actually reports your payments to a credit bureau.

Dont wait any further and apply your brand new credit card now!

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

CLICK ON THE IMAGES BELOW AND FIND OUT MORE ABOUT THE SHOE-IN MONEY.

SO COME IN AND FOUND OUT HOW I DO IT!

5 Free Babysitting Alternatives

5 Babysitting Alternatives - For Free!

You're a young couple with young kids, getting out of the house and enjoying a date together can really add up:

• $35.00 for dinner
• $25.00 for a movie and popcorn
• $30 for babysitting

Sure some ways like reduce the cost of dining out by finding a cheaper establishment. You could even skip the movie and go for a walk instead. However, if you want to be able to get out of the house and fully enjoy the night you want, babysitting is a hard expense to avoid — with a little creativity you can save

1. Ask the Grandparents

Yes, this is an option that will only apply to a limited number of people who happen to be fortunate enough to live in the same town as their parents. But if you do live in the same town as your parents, then I'm betting your kids already enjoy every chance they have to spend time with grandma and grandpa, and affordable, reliable babysitting isn't really a problem for you.

2. Swap Babysitting With Another Couple

You may have close friends who have young children. And they may want to go out on dates as well, so agreeing to a biweekly babysitting swap with your friend is a good way to save from hiring a babysitter. Not only did you each get a date once a month, but your kids looked forward to date nights because they get to play with friends. When kids have the opportunity to play with other kids their age, they'll welcome the dates with as much anticipation as mom and dad.

3. Exchange Services

If you typically have a teenager babysit for you, it's possible that you could help them with something that they would consider more valuable than money. This could include something like tutoring them in school or coaching them in a sport.

4. Double Date With Other Parents

Typically most people think dating is about spending time together as a couple. However, if you're more in the mood for getting out of the house and doing something fun, then consider a double date with another couple that has kids. Kids occasionally entertain themselves on an outdoor activity & parents can hang out and enjoy adult conversation.

5. Friends/Relatives Who Don't Have (but Do Like) Kids

Often times people can be voluntary when it allows them to experience the warmth of being around cute children. Particularly when they haven't have or not fortunate to have children of their own. You may asked from them if they could babysit for you and chances are they are likely to agree for the chance to experience parenthood.

And there you have it! 5 alternatives to for you to go on a date without spending a single cents. So take action now and call up all those friends & family of yours!

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

CLICK ON THE IMAGES BELOW AND FIND OUT MORE ABOUT THE SHOE-IN MONEY.

SO COME IN AND FOUND OUT HOW I DO IT!

Mothers Day Gift - on a budget

It's Mother's Day and you completely forgot about it. But of course, FLOWERS! 

A Mothers Day Gift

Even if you're on a tight budget, you can still find ways to show Mom you appreciate her. Commonly we think about flowers & spa days. Recently digital coupon websites are the next biggest trending websites for gift shoppers that is both on a tight schedule & at times on a budget. Industry research predicts that consumers will spend about $17.1 Billion on Mother's day gifts. Averaging normal consumers would spend from $80 up to $300 for such a day. 

Those of you are looking for alternatives that would make the money you spend on these popular gifts for Mommy stretch as far as possible.

Flowers

If you are able to deliver flowers in person, consider putting together your own bouquet or centerpiece from flowers you purchase yourself. “The nice thing about DIY arrangements is the love that goes into them,” says Louann Shenberger, a former florist who offers step-by-step instructions for flower arrangements on her website. She also suggests calling your local supermarket or discount store and asking when their flowers are delivered. Get there when the flowers do to get the best selections.

You may also want to check out the flower deals your credit card issuer may be promoting. "Most credit card issuers feature online shopping malls that offer bonus points, miles, or cash back for purchases from certain retailers," says credit card expert Jason Steele. 

“Remember that flowers that are hot in demand during Mother’s Day (especially pinks and whites) may have been stockpiled for a while at the wholesaler, ready to ship for the heavy demand that comes in that week,” she says. "Choosing a mixture of different bright colors may result in fresher flowers."

Finally, consider a blooming plant instead of a cut arrangement to get the most value for your money. 

Spa day

Subscribe to daily deal sites like Groupon or LivingSocial, or check your local newspapers for discounted spa services. Many will offer specials for Mother’s Day. If you do give Mom one of these gifts, also give her cash for the tip, based on the retail price of the package, not the discounted cost. Imagine the look on her face when she got herself an awesome Deal upon arriving!

You can also check directly with spas themselves to find out about Mother’s Day promotions, and don’t overlook hotels within driving distance. You may be able to buy Mom a package deal that includes a night away, spa treatment and brunch, for less than those three would cost separately.

Gift Card

If you plan to buy her a gift card in a store, consider using a credit card that will offer you maximum reward points for your purchase. Example, if your credit card offers bonus rewards for supermarket purchases, buy a gift card from there.

Other Creative Alternatives

If you are really on a strict budget, you can take a DIY approach. 

Girls may pick up some pretty (or fun) polish and offer to do Mom’s nails yourself. While you are at it, pick up a box of chocolates, and perhaps some Champagne and orange juice for mimosas. You and she will get to spend time together, which is something many moms will enjoy more anyway.

Guys may ask the mom to go on a candle light dinner date with him. What better way for a mother to spend quality time alone and feeling proud of how much her little baby have grown. If can't do it on the night itself? Make her a voucher for another time.

Children can create some creative cards or essays about "what my Mom means to me," then printed it from her computer for framing. Children can also give mother a "cleanup without talking back card" If all else fails, the second most wanted gift a mother would want is a day entirely to herself.

So go out there and make your mother proud and most of all doing it meaningfully on a real good budget. All it takes is for you to use creativity and it is all the more meaningful.

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

CLICK HERE AND FIND OUT MORE ABOUT THE SHOE-IN MONEY.

How to be a savvy Spending - saving whilst spending

Saving money doesn't just stop from keeping small percentage of your monthly income in the bank however there are a fortune to be saved from the behavior of how we spend as well. Heck, instead of being a Heavy Spender why not become a Savvy Spender instead?

How to become a savvy spender

It’s not just a review of your finances that can save you money, there are other simple measures you can take to make your income stretch that little bit further.

You’ll feel a whole lot better about things when you become less dependent on your cash-hungry overdraft and credit cards.

De-clutter your home

Culturally coming towards the New Years/Festivities (like Christmas/ Chinese New Year) is typically a time to refurbish the homes of the coming festivals so why not have a full-clown clear-out of all the stuff you no longer use and have a garage sale or sell it on eBay.

It’s a winner on two fronts as your house will be less cluttered and your bank account will look a bit healthier into the bargain.

Try a home-made lunch

Carry a notebook with you for two weeks and write down everything you spend – you may be surprised how much cash you fritter away on coffees, sandwiches and that beer after work!

Simply by making your own packed lunch a couple of days each week rather than shelling out for expensive shop bought ­sandwiches can save about $60 a month.

Be a smart food shopper

Don’t impulse buy at the corner shop. Instead, plan your food shopping and go to the supermarket just once each week. Also, don’t forget to use your food in the freezer – too many people use it more as a store cupboard and forget what they’ve actually got in there.

In survey has it, that families of 4 can save between $30 to $85 per week by doing this – and threw half as much food in the bin.

Be more frugal with your energy use

Try and keep those energy bills down – don’t leave appliances on standby and turn the thermostat down one notch. Every degree lower you switch it down can save you a fortune of energy used.

Even simple electronic appliances, instead of leaving your Xbox/Television or PC on standby, take the effort to slip off the switch or some countries that doesnt have it is to unplug the main switch.

Check out more ways to reduce your energy spending and find out about insulation grants on the energy saving trust websites (e.g.energysavingtrust.org.uk)

Find a cheaper energy provider

Gas and electricity prices are getting more expensive year by year, but the prices still vary quite a bit between the different providers.

You can still save more than $400 per year just by switching your gas and electricity company from your respective regions.

Visit trusted websites that does studies on energy usage from your respective regions gas & electricity company.

Communicating using the Post Paid Internet whenever possible

As long you have unlimited usage of fixed  monthly bill of internet, then you are Gold! Social Media Apps such as Skype & Facebook allows for free communications, why bother pay for phone-calls per minute or per SMS when you can do exactly the same for hours without worrying the phone bill clicking away.

This applies with modern day smart phones as well - when you just wanted to have casual chats why not find a Wifi hotspot and use their internet instead!

So take action go out there and be Savvy Spender and save a load of fortune! 

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

CLICK HERE AND FIND OUT MORE ABOUT THE SHOE-IN MONEY.

Lets start saving!

Take Action now. Let's start Saving!

Saving Money, we all want to do it however most would say the task is so much easier said than done. Wether its saving for your retirement, your family's future or simply attaining goals and getting the things you want - Saving is one of the most important ways to make sure you are financially sound (aside from Investing) when it counts and it is easy to learn. All it takes is to understand the fundamentals on how you are or will be spending.

So without Further ado lets get started! 

1. Distinguish wants from needs.  Figure out what you truly need, and distinguish these needs from what you want. Do you need a car that takes you from Point A to Point B? yes. Do you need a car that does exactly the same but cost 3x times more? no. 
2. Track your expenses.  Instead of spending indiscriminately, track your expenses. If you track cash outflow down to the penny, you can get a really good idea of where your money is really going. This can help you figure out where you can cut the fat, so to speak. 
3. Live within your means.  Following Step #2 above, you know how much you’re spending and on what you’re spending, right? Now you need to make sure that this fits within your income. If you have both pieces of information, you can make sure that you’re spending responsibly.
4. Maintain a gap between income and expenses.   Once we’re able to live within our means, we can take steps to make sure that there’s a gap between our income and expenses. Of course this means income exceeds expenses, not the other way around. Working up to 25% or more is a realistic amount, for today’s reality of a self-funded retirement.
5. Preserve and grow income.  Thus far we’ve focused on keeping control of expenses. That’s certainly important. That being said, we need to actually have money to save, before we can work on saving it! Let’s not take for granted the cash inflow part of the equation.  Working to maintain income first, and then working to increase income, are vital to our overall financial situation. Doing this, while keeping expenses under control as detailed in Steps #1 to #4, can supercharge your savings efforts.
6. Take Action. We know about these, its common knowledge. So all it takes is for you to take action. 

You may think this is common knowledge and believe this is easy to say than done, well..it IS much easier to said than done. Theres a saying we've all heard and that is "TALK IS CHEAP" which pretty much underlines my point, talking is definitely IS cheap however for those who doesn't actually take the time and effort to take action none of us will be going anywhere. 

So finally don't get discourage and don't give up. You may be surprised how much money you can put away for something far more enjoyable than what you could buy with short term savings. 

So lets get started and save some serious money!

Want to save even more money? Why not go ahead and MAKE more money with as little as effort as Saving them! Click Here or the title below to learn from a Superhero of Making Money

Click Here and find out more about the Shoe-In Money.