There are lots of great tips for living frugally over at "Life as Mom," so go check them out here:
http://www.lifeasmom.com/2009/07/frugal-friday-save-money-on-birthdays.html
Here is my tip. If you are lucky enough to be able to pay off a credit card, there is something you need to keep in mind. Just because the card is 'closed' doesn't mean there won't be some charge on it!
I have recently been able, thanks to the best husband on earth, to pay off most of my big, fat debt. As I pay off a card, I also close it. But I double-checked the next month to make sure the balance was at $0. Well! To my surprise I found out this isn't always true. Yes, there will be no more charges from outside sources. But what about the CC's own finance charges?
You could pay off the current balance on a card, without knowing that your finance charges weren't scheduled to show up for a day or so. Those charges go on your card. And there you are, happily thinking of $0 balances, while those sneaky charges lay in the dark, waiting to make your life miserable!
So...take a second look at any CCs you close and make sure they really are finished and done!
BTW, IMHO...credit card companies are legalized loan-sharking establishments. Thank goodness there will be regulations to stop this nonsense in the next few years!
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8 comments:
Excellent point. Happy Frugal Friday!
I agree that cc companies are loan sharks. I try to pay mine off monthly--or if it's too big for that, at least within a couple of months.
Great tip! I'm glad you stopped by for a visit yesterday. You have a great blog here!
I agree about the loan-shark statement!
Thanks for the tips you left on my blog post asking about craft storage and organization ideas.
I have never seen a sushi container — I’ve never had it. I winder if you can get just the containers somewhere?
Thanks for the idea about the stamps — they are indeed works of art in themselves!
I just wanted to pop over and thank you for your prayers for Ella. Thank you for your comment ~ You sure had some scary moments with your babies!!! One of my biggest fears is to have 1 of my kids get ran over, thank goodness he is still alive today :)
Yes, they are bandits.....I wish cc were never invented :(
HI! Congrats to the graduate and to you!
This is a great thing to remember with CC companies, thanks for the reminder.
Yikes. What an important tip! Thank you!
Martie
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