With all of the worries of the economy, job security, and saving money, we rarely think about ways we can spend more especially when we have kids. Are you someone who has credit card debt or doesn't want a credit card because it might cause more debt that you really don't need right now? Perhaps there are ways you can get around all of that. Mike from Financial Factsis here today to show us 5 Ways to Avoid or Reduce Debt...and maybe even Spend More!
Being Credit Card Smart...
"You’d think that spending more would usually equal more debt, right? Well, not if you’re clever. Find thebest credit card dealsand you can really increase your spending power, while avoiding the debt trap. Want to know how? Read on..."
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Get a Cash Back Credit Card...
"Credit card issuers offer a range of cash back deals, aimed at enticing new customers in. Although it’s important to check the other features of the card, such as the APR, before signing up, if used in the right way cash back cards can prove a real money saver. For example, some cards will offer a percentage of cash back in a certain supermarket – meaning you’re effectively getting a discount on everything you buy in that store."
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Get an Air Miles Credit Card...
"Frequent flyer? Some credit cards offer air mileson everything you spend, which can be cashed in for flights, hotels and other associated travel deals. Which could mean you end up spending less on your travel, simply by spending as you normally would on your day-to-day items."
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Get a 0% Deal on Purchases...
"If you need to buy something that won’t wait until the end of the month, but don’t have the money in your current account straight away, consider taking out a card that offers 0% on purchases, rather than using an overdraft that charges or taking out a loan. This way, you can borrow the money you need without paying hefty interest on top, as long as you pay off the amount in full at the end of the month."
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Spread the Cost of Your Purchases...
"As financial experts regularly tell us, there are such things as good debt and bad debt. For example, buying a sofa on interest free credit is only good debt if you pay it off before the end of the 0% period. So if you find yourself in this situation, look into whether putting your purchase on a credit card with a long 0% deal on purchases could be a savvier move. Pay off the minimum amount in full each month and you may never pay a penny of interest on your purchase."
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Carry out a Balance Transfer...
"If you’re already in debt with a number of cards and loans, the best way to boost your spending power could be to look at the best balance transfer offers available, ideally one with a lengthy 0% introductory period. This way, you can spend money on the things you need, rather than interest on what you already owe."
If you would like to know more ways to save money, spending smart, and getting good credit cards follow Mike and the rest of his team at Financial Facts. You can also find other great smart money posts right here on All Women Stalk.
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