Business Marketing & Finance Resources

People throw away hundreds of dollars a week without even realizing they are doing it. Lottery tickets, coffee, movie tickets, lunch or car washes are all hidden factors. Not to mention all the money that is spent on outings on the weekend such as dinner, drinks or going out to a bar. So if you are in need of paying off a debt and have no money to do it, you shouldn’t worry because if you have enough money for eating out for lunch each day, you have enough money to put into savings. The following tricks can help make saving not only seem easier, but almost effortless.

One easy way to save money is to write a check to yourself as soon as you get paid so that money is automatically taken out when you cash the check. Then add this money to another account such as savings, or anything that will not be included in your total balance. This way, you will be saving a bunch of money but since you don’t see it in your account balance, you won’t be tempted to spend it.

You can also try saving bills as a twist to the classic change savings in a jar. Try putting any small bills you get into a jar (such as fives or tens) and soon you will have saved up a lot of money without realizing it.

You can also try making a family piggy bank. Have a piggy bank set up and make a rule that each family member has to put in one dollar a day. By one year you will have enough money saved up to pay for all you Christmas presents or take a vacation.

Another easy way to save money is by collecting the money that you save from grocery shopping by using coupons, or discounts. For example, after you get the bill most grocery stores will have printed out exactly how much you saved. Instead of pocketing that money, put it into savings. Its just like shopping without the discount and still having enough money saved up to take a trip or pay off an outstanding debt!

As you can see there are many unique ways of saving money that can even seem fun. So instead of buying lunch with that ten dollar bill you just got in change, save it and take that trip you’ve been dying for.

Credit cards have long been a popular form of purchasing items on a chargeable or borrowed term. Let’s look at some of the advantages and disadvantages.

The advantages of having a credit card are:
1. Security, since one does not have to carry a large amount of cash to purchase certain items.
2. Convenience. In case one has to purchase an item that is immediately needed (and is out of cash), these can be purchased using a credit card
3. Cash advances. Purchases that require cash payments may still be accommodated by the credit card through the cash advance feature. This works like a regular ATM transaction (with of course a corresponding interest rate)

Disadvantages

1. Interest rate. Unlike purchasing with cash, credit card charges come with a corresponding interest (unless paid before the due date). The consumer should be aware of the various interest rates offered by the different credit card companies. One has to choose the mode of payment (plus the interest rate) that would best suit his or her capacity to pay.

2. Overuse. A consumer tends to purchase items that are not really needed or included in their budget if they have a credit card that is ready to use.

3. Annual fees. Whether one chooses to use his or her card, after activation, annual fees will be charged.
4. Other charges. A delay in the payment during one billing period would incur you additional charges.

Credit card online approval usually is far easier than manual applications that require various forms to be completed before it can be processed. The company likewise is more likely to receive your application on a shorter period of time as compared to snail-mailing your forms.

For a faster credit card online approval, take into consideration the following:

1. Do not leave any unanswered line, especially those marked with a red asterisk.

2. After completion of the online application, immediately send either through email or facsimile the additional requirements needed.

3. Take into consideration that credit card companies prioritize applications of the following group of people:
- married couple
- persons with a mortgaged house or car
- persons with several dependents

4. Choose credit card companies that have a promotional offer in the application process, chances are, promos are offered due to low application rate, thus prioritization your entry is a sure shot.

The logic here is that the more obligations an applicant has, the more they are likely to use the credit card, which equivalents to higher earnings (through interest charges) on their part.