Best ways to save money

[pk500]

Re: Best ways to save money

With my CC, I have a balance and just do transfers online whenever. The minimum payment is $25 every month, but everytime I make a transfer, that "minimum payment $25 due on __/__/07" goes away. I never just do the minimum payment. That would be stupid.

And so is carrying a balance. You're still giving money to the bank that could be in your pocket instead.

I don't know about you cats, but I work hard for my money, and I want to keep as much of it as I can, not counting what I donate to charity.

Banks are not on my list of charities.

Take care,
PK

[pk500]

Re: Best ways to save money

Exactly. I've tried telling this to a friend of mine, but he doesn't get it. He keeps racking up credit card charges so he can "keep up with the Joneses". He'll be 10K in CC debt and still go out and buy a $2000 HDTV. He even said to me "Being in debt....that's the American way. Everyone in this country is in debt!". I laughed and told him I wasn't and knew many people that aren't and he's only kidding himself if he believes that. The worst part is...he's a 29 year old adult and still calls his parent's for money when he has trouble paying the bills. He just leaves out the part where he spent all his money on new toys.

His parents are fools for enabling him, too. If I had called my parents 13 years ago, when I was 29, begging for money, they would have slid me a $20 bill and told me to wise up.

Take care,
PK

[MassNole]

Re: Best ways to save money

Whole life insurance would be a great way.

[TheMatrix31]

Re: Best ways to save money

I hope you are not referring that you transfer balances each month from one CC to another.

No, definitely not. I mean paying off chunks of my credit card with my checking account.

[Unoriginal Name]

Re: Best ways to save money

Currently I have a Money Market account with CapitalOne that is at 5%.

CO has some good benefits.

Same here. Most of my money goes in to my Capital One account. I do keep some in my regular bank account but that is only enough to cover a quick transfer if I keep it.

I was also able to secure a credit card from Capital One with a 2.99% rate for balance transfers for the first year and then after that year it is 1.99% until that transfer is paid off so I transfered all my credit card debt to that account. Right now I have been focusing on paying off my car loan instead of this credit card since the car loan is so much higher in interest. I don't make much money so it is taking awhile but this time next year I will be debt free except for my student loan. I do not use my credit cards anymore unless I know I will have the money to pay it off at the end of the month.