1. Delete your cookies: Redeeming Riches suggests that you delete your cookies and avoid saving credit card info on web sites. This way, you will think twice when you have to go through the hassle to put in all of your information in for each purchase.
2. Use the $25 rule: Redeeming Riches points out that many times, we see something else that we want when we are making credit card purchases. Instead of springing for it, have a firm rule that you will not spend more than $25 than originally planned. If you see a $26 accessory, too bad. It violates the rule.
3. Come up with three reasons to buy: Instead of just purchasing something, Redeeming Riches suggests that you list three reasons to buy the item using a credit card. He points out that “I don’t have the cash” doesn’t count. In fact, that should be the overriding reason to avoid buying the item with credit.
4. Take it out of your checking account: This one’s mine. I like to deduct the money I spend on my credit card from my checking ledger. I write a check each month to cover what I spent on my credit card, and taking it out of my checking account lets me keep from spending more than I actually have.

Do you have any tricks to limiting what you spend on credit cards?

Image source: Daylife

Post from: EveryJoe

4 Ways to Limit Your Credit Card Charges

One in four (25 percent) say they would like to be less reliant on credit and debt in the future, 21 percent plan to keep a lid on spending on non-essentials, and 18 percent think they will save and invest more. Fifteen percent say they will now develop and stick to a financial plans.

This is an interesting development. If the recession really does result in a change to overall financial habits, then that could be seen as a definite silver lining. Now is a good time to take a look at your own financial habits and see what can be done about paying down debt, and reducing credit card use. And, of course, it always helps to make a financial plan. It would be even more encouraging to see more people decide to make use of financial planning.

Image source: JudeanPeoplesFront via Flickr

Post from: EveryJoe

Do You Plan to Change Financial Habits?

I received an email from A New Horizon, a credit counseling and debt solutions company, pointing out that some credit card issuers have loosened their requirements for hardship repayment plans. This could mean that you have a better chance at qualifying for a debt hardship plan if you are looking to repay your debt. However, it is important to consider the following things when going for financial hardship debt plans:

1. You may have to close your account: Many issuers will require that you close your account to take advantage of the lower interest rates or waived fees that come with a hardship debt repayment plan.
2. Your credit score could drop: Depending on the program you end up with, and if your credit account is closed, you may end up with a lower credit score, resulting in difficulties if you plan to apply for new credit anytime soon.
3. Be aware of fees charged by third parties: While some people benefit from having a third party help arrange matters for them, the fact of the matter is that many credit counseling and debt solutions companies charge high fees. It is possible to go directly to your credit card issuer and attempt to negotiate a lower interest rate or access to a hardship program.

In the end, it is nice that these hardship programs exist, but you should be careful before entering one. Read the fine print, and carefully consider your options before committing.

Image source: Daylife

Post from: EveryJoe

Credit Card Issuers Offer Hardship Programs

Image via Wikipedia

Google Reader (or any other web feed reader) -
GR is an excellent tool to help process the everyday information that shows up on most of your favorite sites. This can be used to find both the latest nuddy magazine photos and the greatest updates on the Apple/i phone information saga. Convenient? I think so.

PageOnce –
PageOnce has been a big help for me and now that it’s out of strict beta (closed to some), it’s even better. I use it to pull in bank account balances, bill due dates and the latest in my Facebook statuses. You can use it to do the same and keep your life organized on just a few pages.

Mint.com –
Mint has been a lifesaver or me (no pun intended) when it comes to keeping track of my finances. I am able to pull in all my financial services — stock portfolios (like I trade, hah), bank accounts (already know they’re near zero) and credit cards (those just keep rising) — and then get information about each of my accounts. It’s secure, easy and fun to use. In addition to getting account info, Mint also gives suggestions on ways to save money or cut down on debt — always a helpful feature.

Whether you’re an information whore or a drive-by reader, services like these can help you stay organized. Being organized can not only save you time but introduce you to new information. How do you think I found out about LOLcatz? Oh yeah, my feed reader!

Post from: EveryJoe

Organization — Inform one, inform them all.