Lower Your Cable Bill

              

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Money Saving Minute #038 - Lower Your Cable Bill

Kip Warzon     NMLS 289451

Most of us are not happy about the amount of money we spend to watch TV however not many people will take the time to call their provider and simply ask for a lower rate.  No company wants to lose your business. Often, a conversation about your cable, Internet and / or phone needs can result in a bill reduction.  This is especially true if your contract is nearing expiration, or you are no longer under contract.  Most providers offer dozens of promotional package so it’s worth exploring your options.  Once you find the promotional package that fits your needs and budget, mark your calendar with a reminder to call back in eleven months to transfer into a new promotion.  

Credit Cards

              

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Money Saving Minute #036 – credit cards

Having a credit card in your wallet is a lot like adopting a Pit Bull as a pet.  When properly trained they can be your best friend…when left to run wild they can be trouble.

A properly trained credit card will not be used as an extension of one’s earnings.  The mentality of “I can’t afford it today but I can afford the minimum payments” is what will get a borrower into trouble.  Instead one should think of credit cards as a way to help them track their spending as well as earn rewards or cash back.  If you can afford to pay off the balance each month you are using your credit wisely.  If you can’t pay off the balance each month stop and ask yourself if you need the purchase enough to pay 18 to 25 percent more for the item.

If you are currently carrying balances on your credit accounts go to this webpage and download the credit card calculator.  This will help you to set up a target payment to get those balances paid off.

http://tinyurl.com/MSM-CCcalc

For more information about this or anything home loan related please contact Team Warzon.

Employer Benefits

              

Track Your Spending

TAKE STEP TWO - DOWNLOAD YOUR BUDGET WORKBOOK AT

HTTP://TINYURL.COM/KIPWARZON

CLICK "FINANCIAL WORKBOOKS"

              

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Money Saving Minute #034 – Track Your Spending

Tracking your spending will save you money.  Sounds pretty obvious, doesn't it?  But consider this, the same number of people that say ‘I already know that’ are equal to the same number of people that will say ‘where did all of my money go’?

So let’s get back to basics.  Tracking spending is not about self punishment.  Tracking is about looking at where your money goes and finding ways to comfortably keep more of it in your pocket.

Tracking starts with a 30 day snap shot.  For the next 30 days keep all of your receipts for cash purchase and make note of any incidental purchase such as vending machines.  Next take a look at your bank and credit card statements for the same time frame.  Examine all of your documentation to see where your money is going.  Again, this might seem obvious but once you take a good look you might be surprised at where your money is going.

Dollar a Day

FIND THE WORKBOOKS FROM THIS VIDEO AT

HTTP://TINYURL.COM/KIPWARZON

CLICK "FINANCIAL WORKBOOKS"

              

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Money Saving Minute #033 – Dollar a Day

What can a dollar a day do for you?  A dollar might get you a cup of coffee, it might 

buy a music download OR it could get you out of debt.  

As we all know, term loans and credit cards charge interest by the day.  By accelerating your payments by as little as a dollar a day, or $30.44 per month, a borrower will pay off their loans faster and save themselves money on interest.  Let’s take a look at a few examples.   

MORTGAGE

$150,000 financed over 30 years at 5% interest.  

In this example if a borrower were to faithfully pay an extra $30.44 toward the principle of the loan the borrower would save almost $13,000 over the term of the loan as well as have the loan satisfied over two years early.

AUTO LOAN

$20,000 financed over 5 years at 6% interest.

In this example, an extra $30.44 per month would save the borrower more than $250 over the term of the loan as well as have the loan satisfied 10% early.

CREDIT CARD

$2,000 balance at 18% assuming a $50 minimum payment

In this example if a card holder were to faithfully pay an extra $30.44 toward the principle of the balance each month the borrower would cut the time it takes to pay off the account as well as the interest paid by 50%!

There are workbooks available to help you calculate what a dollar a day will do for you and your financial health.  The workbooks and information are free so please help yourself to any that will help you.

Visit tinyurl.com/KipWarzon

Click “Financial Workbooks”