Savings Corner

DECEMBER 24, 2023

One of the biggest benefits of a personal loan is that they often charge lower fixed interest rates when compared to other forms of lending, like credit cards. Pros Lower interest rates: Personal loans typically have lower interest rates compared to credit cards, especially if you have a high credit score.

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Debt Credit Cards Credit College Tuition 52

Prairie Eco-Thrifter

FEBRUARY 3, 2016

Set an example of living below your means. No, we won’t put that on the credit card and pay for it later. And they will see that you put money aside in savings. Point out how compound interest is making savings grow. Credit cards require maturity. Of course we misused those cards!

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Work Kids Bank Banking 100

Prairie Eco-Thrifter

MAY 26, 2016

My grown kids are also savers and I have high hopes that the grandchildren will follow their example. Helping the parents teach my grandchildren to save is an ongoing project of mine. Trepidation about having the grand-kids open a savings account. Both are now old enough to open a bank savings account.

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Money Saving Money Lowes Grandchildren 124

Savings Corner

DECEMBER 27, 2023

Ideally, getting one positively impacts your overall financial health, by helping you pay off debt faster, for example, or adding to the value of your home. It also provides an apples-to-apples comparison across financial products, so you can compare the cost of a personal loan to a credit card, for example.

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Debt Home Improvement Consumer Credit 40

Prairie Eco-Thrifter

JANUARY 5, 2014

How we handle our money early in life can impact us in future years- for example, young adults who rely on credit may find themselves continuing this pattern throughout life and consumed with debt.” You should be laser focused on getting rid of any student loans or credit cards. Kimberly Foss, CFP, CPWA.

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Personal Finance Finance Finance Tips Graduation 192

Prairie Eco-Thrifter

JANUARY 27, 2014

My favourite example of this is the Betterment platform. With Betterment, all you do is sign up for an account. Decide how much to invest initially and if you’d like automatic deposits made to your investment account from checking. You’ll have to choose from one of the options that the company you work with has.

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Money Goals Credit Cards Rewards 182

Prairie Eco-Thrifter

JANUARY 30, 2017

A few real life examples of revenge spending: English rock star Liam Gallagher (of bands Oasis and Beady Eye) had an affair with an American Journalist and fathered a child by her. My own examples are a bit more mundane. I wanted to buy a nice TV so I had to save up for it. He was pretty angry about that.

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Money Camping Equipment Bank Banking 100

Couponing 101

JULY 26, 2011

Did you know that: * Nellie Mae reports that the average amount of credit card debt held by college graduates is $2,700. * Teach Kids to Save Money Tip #3. Example: If they buy lunch money then this is how much they need for it, this much for the football game on Friday, this much for savings, and this much for fun money.

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Saving Money Money Kids Debt 103

Prairie Eco-Thrifter

JANUARY 30, 2013

For example, if my family were to experience a sudden drop in income, we have enough home food storage to help us along for a few months. Credit card with an adequate limit. Financial accounts numbers (memorize them and/or save them in digital form, protected by a password or encryption).

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Emergency Fund Job Loss Transportation Staying Warm 211

Prairie Eco-Thrifter

MAY 29, 2013

For those who prefer to pay with cash and avoid the credit card debt cycle altogether, building a solid credit history and high FICO score can be a challenge – but it doesn’t have to be. Only a small portion of your FICO score is based on having and using revolving credit. Where Credit Scores Come From. Your Score.

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Credit Cards Credit Building Rent 234

Prairie Eco-Thrifter

JULY 30, 2012

Save With Each Paycheck Promise yourself that you will save something out of every paycheck. Arrange for your savings amount to be automatically deposited into a savings account. Getting your debts paid off, or under control, is a good saving strategy because it’s saving you dead money which we call interest.

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Debt Budgeting Budget Finance 202

Prairie Eco-Thrifter

MARCH 4, 2015

For example, in How to Become a Millionaire by Age 30 the author claims that: “Rich people use debt to leverage investments and grow cash flows. The only debt we have is temporary – credit card charges that we pay off each month so we don’t get charged any interest. It depends on how the debt is managed.

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Debt Used Money IBM 100

Prairie Eco-Thrifter

APRIL 6, 2012

Teacher Man presents Why Credit Cards Are Dangerous For Students posted at My University Money , saying, “I am on the record as having said that I believe students should sign up for credit cards. Theres a reason why the average amount of credit card debt per household is $15,956.

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Money Finance Personal Finance Real Estate 133

Prairie Eco-Thrifter

JUNE 14, 2012

Take personal finances, for example; too many people over-think their finances, with the result that it all seems too hard. So we just give up on trying to control expenditure and saving. Wouldn’t it be much simpler if you only had a few accounts, maybe a working account and one or two savings accounts?

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Simple Finance Budgeting Budget 221

Prairie Eco-Thrifter

JUNE 18, 2021

Look at the last six months of your credit card statements along with your bank statements to review what cuts to make to reduce expenses. Look at your current savings as well. If you do not have enough saved up to cover your expenses for at least one full year, you should carefully funnel your funds into your savings account.

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Insurance Re-use Delivery Service Family 100