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Jan 12

THINKING THURSDAY: HOW TO NOT WASTE MONEY

THINKING THURSDAY—New Year, New You!

It’s a New Year, and you are thinking how can I save money this year and pay off my debts? Save more money and pay your debts off to have a better life. Gone are the days of putting money in the bank watching it accrue great interest money making possibilities. Gone are the days when your money would accrue anywhere between 3 and 5 percent and you would come out with more money in a couple of years than what you put in, so here are some ways to help you not waste money.

HOW TO NOT WASTE MONEY—

1. Cancel the cable. I love the Yahoo article saying people spend as much as $100 a month on the cable bill. Yahoo is so 1990’s. That’s about how much we paid for cable TV and for satellite TV back in the late 1990’s including HBO. Currently we are paying close to $200 a month and I am seriously considering cutting the proverbial cord. My husband and I watch cable TV one night a week. Otherwise we watch Netflix or Amazon. You can save even more money by not getting Amazon not getting Netflix. Watch antenna TV, or watch TV shows on the Internet.

2. Do not sign up for subscription services. They are a rip-off. Fabletics is a rip off as are many subscription services. The clothing, sending food to the house services usually offer a low price for the first month and then the supposed helpful service charges your credit card or PayPal for every upcoming month. It’s a rip off, because Fabletics may offer 25 dollars for the first outfit, but then it goes up. Subscription services charge your credit card every month and you receive a large bill for stuff you never wanted to buy. Your credit card bill goes up as does your credit card interest rate.

3.Do not over spend any money from your checking account. The bank will pay the bill and charge an outrageous amount of money to do it. I did this one time, and I learned my lesson. After the bank oh so helpfully charged me 35 bucks for an overdraft fee for paying the bill, I simply stopped paying bills. That’s a joke, son, that’s a joke. Now I carefully watch what I am spending every month by writing it down. It’d the old method, but it works.

4. Do not get more than one credit card. And…. only use credit card for emergencies. I know credit card companies offer money for spending so much, but you have to have the money in the first place to pay back the credit card company before they charge an outrageously high fee for using their credit card. God forbid you pay the amount spent late, because they will charge a late fee, and hike up the interest rate, which means you will be paying the credit card company until you die, leaving your kids in debt.

5. Do not get that While I’m Here Attitude! Go grocery shopping once a week, not every day. Do not run to the grocery store every day to pick up food for dinner or pick up a movie or get a pizza or chicken dinner from the grocery store. Why? Because you will spend more money. You get that while I’m here attitude of picking up items you need or don’t need from the grocery store.

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