Smart Ways to Save

From the 19 January 2003 issue of Parade Magazine:

  • DO have an emergency account big enough to cover your core expenses for three months.
  • DON’T buy in repose to unsolicited sales pitches. “You might not go to a store to getĀ  new down jacket, but it looks compelling on your computer screen with an offer of free shipping,” says financial adviser Deena Katz.
  • DO use your own bank’s ATMs. Paying an extra $1.50 a day for using a “foreign” ATM adds up to more than $500 a year.
  • DON’T put off paying your credit-card bills! In 200, late fees accounted for almost one-third of credit-card issuers’ profits.
  • DO save for retirement through automatic payroll deductions — and add half o every raise and bonus to your savings. It’s almost painless.
  • DON’T make impulse purchases. “Wait a day or two,” says J. Jay Hurford, a financial planner. “If it still seems important, then buy it.”
  • DO opt out of unsolicited preapproved credit offers by calling the Credit ReportingĀ  Industry (+1-888-567-8688). “Themore credit people have, the more they’re tempted to use it,” says Hurford.

One Response to “Smart Ways to Save”

bonnjill on January 5th, 2009 11:56 am:

Once you have paid off a bill, start paying that amount off on your next biggest bill. In my case I am paying my car off this month and will start depositing the amount of my car payment into my savings account.

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