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Use Coupons to Cut Cost of Purchases by 5% to 25% or More

Using business coupons can save you a lot of money on your purchases now and in the future. Although you have bigger fish to fry in developing and running your business than to become a coupon fanatic running to nine different stores for the best buy, with a couple of simple steps, you can take advantage of the big savings[Read More…]

Bartering: Find People & Websites Where You Can Trade Services

Use barter wherever you can to save on cash outflow. You are skilled at certain things, others are skilled at other things. For example, if you are an accountant, trade your tax preparation skills with a painter or plumber for their services. Call it what you will…barter, barter and swap, barter trade or barter exchange, it is a tip that[Read More…]

Discontinue Use of Your Credit Cards; Use Cash Instead

One quick way to get your spending under control in a debt situation is to leave all of your credit cards at home and spend only cash. It will focus your spending and do away with all of those “lost transactions” you do, like $20 on a credit card here, $40 on another and $60 on another. If you use[Read More…]

Q&A: How Long Bankruptcy on Credit Report?

Q: How long bankruptcy on credit? A: How long bankruptcy on credit? Speak with a legal professional before you do anything, but avoid declaring bankruptcy if you can help it because it will haunt you for a long time. Typically on a credit report, which are maintained by three credit reporting agencies, truthful negative credit information can be kept on[Read More…]

Use a Credit Card to Boost Your Credit Score

If you have already been hit with some of the consequences of poor credit, like losing your credit cards and being closed off to most lending, one thing you might be able to do to improve yourself going forward is to get a secured credit card and then carefully pay that bill on time. The secured credit card is reported[Read More…]

How to Create a Budget to Pay Your Bills, Cut Debt, Build Credit, Enjoy Life

Knowing how to create a budget plan is integral to paying your bills, reducing debt, building credit and achieving your future goals. Working with a budget gives you the power to look at your reality and make decisions. With using a budget, we stumble from paycheck to paycheck losing the opportunity to control your destiny and your future. Knowing how[Read More…]

How To Pay Off Debt Fast To Boost Credit Score

How to pay off debt fast is integral to build credit. But before you can create a plan on how to pay off debt quickly, you need to fully understand the scope of your debt. Begin by creating a table, similar to the one below in which you will add all of your debt, all of the money you owe[Read More…]

Q&A: How Long Bankruptcy on Credit Report?

Q: How long bankruptcy on credit report? A: How long bankruptcy on credit report? Bankruptcy is a serious thing in the world of credit and lending that will stay on your credit report for up to 10 years and may haunt you for a long time after that. Typically, negative credit information of yours will stay on your credit report[Read More…]

(49) Set up Automatic Payments on All Borrowed Money

With the increased banking regulations today, banks are hemmed in on where they can make money and are just waiting for you to make late payments so that they can tighten the interest screws on you. Don’t let them. Start automatic payments on all of your credit cards and loans for the minimum monthly payment. We don’t recommend that you[Read More…]

(46) Identify and Remove All Overspending Triggers in Your Life

Everyone has overspending triggers and if you want to get debt under control and build credit, you need to find and eliminate them. It could be the people who you shop with, the mood you are in, anything. You have to figure out what makes you spend money and stop or change it. One debt-ridden reader told us that she[Read More…]

(45) Challenge All of Your Expenses & Rethink All of Your Spending

If you have money flowing out in every direction, get control of it by making a list of where your money is going, then readjust where you are spending it. If you are an entrepreneur, the above advice goes doubly for you because a small business can be an endless money pit of leased equipment, employees, expense accounts, etc.

(45) Use the 20% Rule for Debt Repayment

Take 20 percent of your monthly disposable income to pay down all debts until they disappear, then use that money to build up your emergency fund and then retirement savings.

(43) Always Use Windfall Cash to Pay Down Debt

Anytime you get in a windfall of cash, use it to pay down debt rather than buying a present for yourself. This includes tax returns, bonuses at work and, yes, your increased salary from finding and taking a better job. Most people, when they get a better, higher paying job, will crank up spending and debt. Be smart, use the[Read More…]

(42) Narrow Down to One or Two Ways How You Spend Your Money

If you are charging various purchases, writing out checks, paying cash, withdrawing money from the ATM and not accounting for it, stop! Money is sailing out and you do not really know where it is going. Figure out one or two ways to spend your money and stick to it. For example, pay for everything through your checking account and[Read More…]

(40) Always Use Price Comparison Websites

Once you have made the decision to commit yourself to getting out of debt and rebuilding your credit, you will see ways to begin freeing up money in many areas of your life to focus on reducing that debt. One way to do this is to always use price comparison sites before buying anything. Take it a step further and[Read More…]

(39) Contact Your Creditors If You Have Fallen Behind on Payments

Don’t try to hide from creditors if you have fallen behind on your payments. Contact them and determine what can be done to work out a new payment schedule. Nothing makes a lender more nervous than having someone with late payments who they are unable to reach. If you contact them early enough in the process and show a willingness[Read More…]

(38) Try Direct Paycheck Deposit with Withdrawal Limits

If cash seems to fly through your fingers and you struggle to get a handle on debt and build credit, leave your credit cards at home and get your paycheck deposited directly into your checking account and set withdrawal limits of how much you can take out from an ATM in one day.

(34) Fully Grasp the Slow Death Spiral of Minimum Monthly Payments

Minimum monthly payments on credit cards is like someone with their hands around your neck and squeezing you…not enough to choke you to death, but certainly enough to make it hard to breathe. The only thing banks like more than you making a minimum monthly payment is for you to be late on a couple of payments so they can[Read More…]