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RE: what are are the financial strategies you use to manage your money better?

Posted: Wed Nov 07, 2012 8:26 pm
by Zoe
I keep all of my money (except what I need to spend for the next few days) in a high interest savings account that is not linked to a card...it takes 24 hours to transfer the money back...so it keeps my money safe when I have a sudden impulse to gamble...sometimes I blow the $300 that I have in my account that's linked to my debit card but at least I don't spend all of the money I have until next pay day!

RE: what are are the financial strategies you use to manage your money better?

Posted: Wed Nov 07, 2012 4:09 pm
by Angie
what about cutting down limits on cash withdrawal for your keycard or debit card or credit card so that you can only withdraw a couple of hundred or less a day...or for internet betting you can limit that amount that you can transfer out of your accounts per 24 hour period...?

what are are the financial strategies you use to manage your money better?

Posted: Wed Nov 07, 2012 11:54 am
by dittogirl
Just thought it might be good to share some of the financial strategies you use in order to manage your money....I have a few!

consolidate credit cards: if you owe money on credit cards with high interest rates, do a balance transfer to one with a low rate/0% interest for 6 months card to buy yourself some time to pay it off.

reduce limits on credit card: banks don't like doing it and make it really tricky sometimes, but you can ask for your limit to be reduced - I've now got one card with a $1000 limit because I figure I can always manage to pay that off.

Leave your credit cards at home or send them to live with a friend: simple really, but if you leave your credit card at home you can't use it. if you are dodgy with credit cards, give them to a friend. That way you have to make a conscious decision to use it AND go and get it - mine lives with a friend in another state!

Say no or opt out of those bank messages that ask you if you would like a credit limit increase...

what are some of yours??