Goooooood Mornnnningggg! Today's tip is going to be about credit vs. using money to purchase products. This might sound easy, but everyday there are wealthy families going into debt. Credit cards have many hidden fees that can stack up rather quickly in the space of a month. Don't be deceived by these traps; companies always try to provide incentive to sign up for their cards, with either something like "Free $40 with a new visa!" I see this on sites like Amazon all the time. If I sign up I could be saving money. This is not the case! While it might seem easy to simply pay something with a plastic card, purchases can easily be forgotten and not paid, and suddenly the consumer is sitting on a 20% interest fee on top of the purchase itself. If you don't pay fees on time, the companies can raise interest rates, and leave you with a bad credit score, which is not good for signing on major purchases like cars and houses. Whenever you can, try to buy with cash or debit. The simple act of taking out cash to buy something, makes it a lot more difficult to buy things, because you have to physically hand cash over to someone for what you want. This makes it easier to save money and really think about impulse purchases. No hidden fees, and its easier to track your purchases and keep a tab on the money in your bank account. When buying online, a Paypal account would be best, because it works like an online checking account. Read more about it here:
https://www.paypal.com/cgi-bin/marketingweb?cmd=_login-run&kw=AGID_US_GSR1_TM_PPNVGen_PH_Account_KWID_KYWD_ADID_7564313408&mplx=AGID_US_GSR1_TM_PPNVGen_PH_Account_KWID_KYWD_ADID_7564313408&crlp=7564313408&mpch=ads&mplx=3484-98128-2056-91 There's the tip of the day, check back later for another deal of the day!
5 Comments
Matt
11/15/2011 02:08:23 am
Hey I enjoy reading your posts.
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Frugal Friend
11/15/2011 01:52:02 pm
Hey Matt,
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Matt
11/16/2011 09:34:05 am
Thanks for the reply! Please keep posting great tips!
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Frugal Friend
11/16/2011 09:49:39 am
No problem bud! Thanks hopefully I won't run out haha and please spread the word!
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Frugal Friend
11/16/2011 09:52:25 am
P.S. Feel free to send over any pictures of anything you may have earned/won from online, and I'll add it to the gallery of free stuff!
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About the AuthorI am a 19 year old teenager and my goal is to maintain a page for teenagers and college students to gain information from in order to save money and make a few extra bucks online. I also just want to share my experiences with spending and help others change their lifestyles. Archives
November 2012
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