by Patrice C. Washington | January 18,2013
1. Try online sites like mint.com or mvelopes.com. Budgeting is a little easier when you can track spending and financial goals all in one place.
2. Set your own credit card limit by keeping your monthly balance at 30% or below. You can leverage the other 70% in case of an emergency, never look maxed out and you don’t have to worry about over limit fees.
3. Take advantage of sites like ScoutMob. You can save up to 50% on eating out at the newest and trendiest restaurants around town.
4. If you want to transfer high interest credit cards to other cards with 0% introductory offers, make sure to double up on payments to receive the full benefit.
5. Pick up the local newspaper and check upcoming events for freebies: concerts, arts and crafts fairs, theater, festivals, art galleries, and museums.
6. Only go to the ATM machine once a week and make all of your purchases with the cash you have on hand. Overdraft fees add up quickly. You can never overspend with cash in hand.
7. Make a menu for the week so you know what to buy at the grocery store. This will help you stay on budget and not waste food, time or money!
8. Check out a local credit union instead of a large bank. Fees are generally lower and the interest you can earn will be higher.
9. Why not become a rewards card member at your favorite stores and restaurants? If you’re going to shop there anyway, you might as well receive some type of benefit; even if it is just at your birthday!
10. Did you know that US Banks take in over $38 billion per year in overdraft fees? Check your account balances daily so you don’t overdraft. They’ll be fine without your contribution.
11. Did you know in the last 10 years, bankruptcy filings by 18-25 year olds have increased some 96 percent? Ironic considering student loans cannot be included in the filing.
12. Vending machines and dollar menus can add up pretty quickly. Always carry a snack with you to avoid having to spend money that’s not on your budget.