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Frugal Living, Thrift, and Saving Money

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Tightwad Tidbits for Frugal Living  

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Charge Cards
 
 

charge cards

 

Save money on credit cards by only carrying a couple of them, and paying off the balance each month. It is also extremely thrift conscious to pay cash or use a debit card instead of using a credit card.  People who use cash spend approximately 40% less than those who use credit cards.  It is a lot easier to hand over a plastic card and make a purchase than to use dollars and coins.

 

Watch your credit card provider closely.  They send you a lot of paperwork, and buried in that jumble of small print are fees and interest rate hikes.  Never use the checks they send you for cash advances. The fee for using those checks is very high.

 

If you are going to use a charge card, find one with a low rate and perks like cash back.  Do not close down a credit card if you still have a balance on it.  That may result in an interest hike.

 

To make sure you always have the funds to pay off your credit card at the end of the month, consider subtracting each credit purchase from your check book register.

 

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Frugal footnotes:

 

Here are some frugal tips to help with charge cards.

 

- Use a debit card instead of a charge card.  It is just as convenient, and unless you have
insufficient funds in the bank, you won't get in trouble.
 
- If you are having a problem with self control, freeze your charge cards in a cube of ice to
resist impulse purchases.
 
- Don't keep more than 2 major charge cards.  Cut up the rest of them.

 

 

 

 

 

 

 

Tightwad Tidbits

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