Women's Wealth Information Network

Comment

Comment by Lisa Matthews on July 2, 2011 at 3:48pm

Kaye,

 

Thank you for your comment.  Many businesses are experiencing the same thing you are.  Two things I have seen are:

Some local businesses offer discounts to those who pay cash instead of using a credit card.  

 

Other businesses have set a minimum purchase price that  has to be met before the purchase can be paid for with a credit card.

I hope these ideas are helpful!  Have a great weekend!

 

Lisa 

Comment by Kaye Snyder on July 2, 2011 at 1:55pm

Credit cards are taking too much money out of my business, but everybody seems to be shopping with cards! Any suggestions?

 

Kaye 

Comment by Lisa Matthews on July 7, 2010 at 9:02pm

Heather, The strategies I have heard of suggest three things:

1. Cut up the credit card (so as not to incur any more debt)

2. Pay more than the minimum payment due each month

3. Using the snowball debt reduction program

The snowball debt reduction program specifies that as you pay off one debt, take the money you were paying to that debt and apply it, in addition to what you were paying, to the next debt to be paid off.

For example, if you owe $100 to the doctor are paying $20 per month; and owe $200 to the credit card and are paying $30 per month; when you have paid the doctor off, the next month take the $20 you would have paid the doctor and add it to the $30 you pay the credit card. That means you will now pay the credit card $50 a month until it is paid off. When the credit card is paid off, take that $50 along with what you have been paying the third debt, and pay it the full amount each month until the third debt is paid off etc.

I hope this is clear and helpful. Please let me know if you have any questions or if I can help with anything else.

Lisa

Comment by Heather Cailaoife, LMT on June 15, 2010 at 10:37am

I don't know if this is still an active group or not, but I would love to hear strategies for paying down credit card debt in a way that saves me money in the long run. Thanks!

Comment by Ellodee Cloninger on June 25, 2009 at 3:37pm

Great habit Lisa!
When I shop online I go through shop YTB@Aisle 19. It is a free shopping portal that gives me instant cash back on things I already need and purchase.
If there are online couponds, they are automatically included in the transaction, I don't have to go find the,
I save on mileage, tax, and the price of the product. Sometimes items are shipped for free, sometimes there are incredible savings.
I can set up reminders birthdays or holidays, as well as receive or not receive specials from stores. Best of all I can set up which stores I want access to.
Best of all this is a free website and anyone can sign up for it.
Just go to www.SavingandSharing.com and sign up.
That is all you do to start saving.
Be sure to tell a friend, you never know who you are really helping out!
Yes, and like Lisa I always add the purchase to my budget so I never over spend.

Comment by Lisa Matthews on March 20, 2009 at 10:19am

Every Penny Counts!

I usually make purchases using my debit/credit card. This way the money comes out of my checking account.

Before I leave the checkstand, I put the receipt into my check register. I either write the transaction in the register or just put the entire receipt in the register to be written in at a later time.

When I spend cash, I save the receipt in the check register too (between the register and the checks).

Everyday, I enter each transaction from the check register, and cash receipts into my budget spreadsheet.

Every purchase has to come out of a budget category!

This has helped our family live within our means and get out of debt.

I would like to hear your budget tips.