How To Keep More Money In Your Pocket Part 2
"Looking to keep more money in your pocket? Check out these 5 savvy financial strategies, from earning more on your savings to avoiding credit card debt and shopping for better loan terms. Take control of your finances with simple steps that make a big difference! What are your best money-saving tips? Share with us below!
Continuing from yesterday's list, here are 5 more strategies to keeping more $$$ in your pocket. What are you waiting for?
6. Earn more from your savings account. Rather than relying on a traditional savings account that provides low yields in the 0.2 percent range, consider an online-only savings or money market account with annual percentage yields in the 3 percent range. You can find FDIC-insured savings accounts by going to the “Compare rates” link at Bankrate.com and choosing “100 Highest MMAs.” Credit unions are another option to consider; some actually offer yields above 7 percent for your first $500 or so in savings.
7. Avoid credit-card debt. The worst fees of all will haunt you if you fail to pay off your credit-card balances in full and on time each month. Bearing that in mind, use your credit cards with extreme caution and humility and be conscientious about their due dates.
8. Be careful with debit and check cards. When using these cards, be diligent about logging transactions in your checkbook register. It’s also a good idea to use online banking so you can check balances often and make sure nothing funny is happening in your account.
9. Shop around for decent loan terms. If you’re in the market for a car loan or another type of loan, credit unions can come to your rescue yet again because they tend to offer lower interest rates.
10. Know where to turn. If you’ve been treated unfairly by a bank, try calling customer service about the matter. If that doesn’t help, find the bank’s main phone number and call a senior vice president who ultimately is responsible for the issue you’re having. You also can complain to regulators at the Federal Reserve and the Office of the Comptroller of the Currency.
What experiences have you had with banks that have made things easier for you and your business? Have you figured out any "tricks of the trade" that you can offer others? What are some of the best secrets that colleagues have let you in on? Share the deets...leave us a comment below!
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