Change your financial burdens

Discussions : General discussion : Change your financial burdens

mj wrote:

  There's just too much month at the end of the money!

More and more people are finding that in the uncertain economic climate of the modern age, money or lack of it, is fast becoming one of their main worries.

The good news is it doesn't need to be that way!

Great, simple ideas for generating more income. Just one of these ideas used correctly can help change your financial outlook...

Idea 1
Trade your high interest credit cards for low interest credit cards. Let's say that you have a $5,000 balance on your 17.6% interest credit card. You'll pay $880 in interest in the next 12 months. By transferring that balance to a 6.4% credit card, your interest would be only $320 for the next 12 months. That's a $560 savings! It's like finding over $500 in an old shoebox in your wardrobe. Pretty exciting! 

Idea 2
What's better than reducing interest on your credit cards? Getting rid of your credit cards and replacing them with debit cards. If you're low on willpower, this is a great way to discipline your spending.

A debit card instantly takes money from your bank account, so there is no large bill at the end of the month. Just make sure your debit card doesn't carry excessive transactions fees or other costs.

Idea 3
Hold a garage sale. You can net hundreds of pounds by selling unwanted or unused items. Plus, your house and garage will become neat and organised.

If you're not using your old stuff, you'll enjoy using the cash from selling it much more. 

These are simple, very simple, ideas that applied constantly over a period of time can help you change your financial burden.