Personal Finance Tips: 3 'Can't Miss' Moves | Financial IQ

David Seaman

Looking for 3 personal financial tips that don't engage shredding your credit cards, vowing to never spend income on party again, and eating cat food?

Try these:

1) Consolidate spending onto one good credit label with plain income behind rewards or atmosphere miles. we suggest a Blue Cash Everyday Card from American Express?for income behind and a Capital One Venture Rewards credit label for those who cite earning atmosphere miles. Both cards now offer remunerative sign-up bonuses as well. Compare them here.

Treat this new credit label as we would a withdraw card; by this, we meant that we spend ONLY income that we have accessible in your assets or checking account, and compensate off a change in full any month before a due date. This way, we acquire miles or income back, and never compensate even a penny in seductiveness charges.

Credit cards are simply a tool. Just as a blade can be dissipated in a wrong hands, it also has many legitimate uses. Once we have gotten in a robe of regulating your new card, stop regulating any "gimmick" credit cards we competence still have in your wallet -- even yet some personal financial gurus competence remonstrate with me, we HATE many store-branded credit cards. Sure, we competence get 15% off a subsequent time we are during a dialect store shopping jeans, though these cards tend to have really high seductiveness rates, extreme late fees and penalties, and reduction than state-of-the-art online comment government features.

2) Track EVERYTHING. we suggest signing adult for Mint.com?(it's free) and permitting their module to entrance your credit label activity, bank accounts, and other financial accounts. Their iPhone app is beautifully simple, and Mint provides a nearby real-time image of where we are spending your income (restaurants, entertainment, travel, etc.), warns we when we get strike with any kind of bank fee, and provides a useful -- if during times unpleasant -- perspective of how most we have in your deposition and investment accounts contra your stream superb debts.

Now that we follow a "one credit card" and "track everything" principles, there is sum burden in my life: we know where we am spending each singular penny. we know where we could cut behind or revoke spending, if necessary. And we have good annals for business and taxation purposes. we don't skip income most during all (although we always lift some, since some stylish bars and restaurants do not accept cosmetic of any kind).

3) Remain defence to "false prosperity" lures. What am we articulate about here? Unnecessary upgrades and cost increases that don't indeed supplement much: because compensate some-more for "business" broadband Internet, when your stream broadband devise is half a cost and already fast? Why compensate some-more for "priority boarding" when we book your flight? Sure, we competence get to house a craft a few moments before a rest of us, though a craft doesn't pierce until we are all on-board, and we all finish adult during a end during precisely a same time. False prosperity. Meanwhile, we paid $50 reduction for my sheet than we did -- income we can spend elsewhere.

Disclosures: We're a credit label promotions site, and as such we say financial relations with countless banks and financial institutions, including a offers and?cards mentioned or featured herein. This essay creatively seemed in somewhat opposite form on?Credit Card Outlaw's personal financial vertical.

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