Better than finding $20 in your coat pocket
I know that everyone could use a little more cash in their lives. If you're tired of playing catch up wth bills then your going to have to do more than pray for God to "make it rain" in your life to keep those creditors from calling. Here are 5 easy steps you can take to get on the good foot financially.
1. Start an ING Direct Savings Account. You'd be surprised how easy it is to start. I opened mine in about 5 minutes. All you need is your bank routing and account number. For those uneasy about transmitting information through the Internet, ING's site is very secure and they take extra measures to make sure that your account isn't tampered with. If you refer a friend, both you and a friend can get $$ for the referral (limitations, of course, apply). It’s definitely worth it; I would suggest starting an automatic withdrawal that comes out every time you get paid. Start with a small amount like $25-50 per check. Automatic withdrawal ensures that the money is taken on a consistent basis without interruption. Its like writing a check to yourself every month. It's very important to pay yourself FIRST before paying Sprint, DWP and your Macy's card. Why should they have dibbs on your money before you do. You're the one that worked for it!
2. Know your credit score-It’s very important that you know your credit score and what's on your credit report. It’s a good way to check and guard against fraudulent charges/accounts made in your name. By knowing what your credit score is, it gives you a starting point in getting you credit together and if you have a good credit score, it can serve as leverage in renegotiating interest rates. (On a side note: For all those in college or who just graduated, did you know that a lot of prospective employers check your credit before they hire you. That’s why they make you sign all those release forms. They check your credit to see how you handle personal responsibility. If your credit is mangled, the chances are that they will not be hiring you. Get your credit in line. It may prevent you from getting employed!)
3. Eating money is gross-Stop stuffing 20s down your throat. There's nothing wrong with tossing back some Thai food with your girls every now and then, but every weekday? Come on. Try cooking dinner for yourself a couple of nights, makes for great lunch the next day at work (saves you $$ on lunch too!). If you can't cook, get a cookbook. If you don't have time, you'd be surprised at the amount of instant/frozen food at stores like Albertson's and Trader Joes that take little to no time to prepare. If you always "pay yourself first," then you can afford to splurge here and there, but if you’re already in the red, cooking your own food will save you a lot of money and push you in the right direction to spending smart.
4. Balance your checkbook-From experience, let me tell you that mental bookkeeping will have you paying Washington Mutual close to $250/year in overdraft charges. Your heart shouldn't be beating that fast before you check your balance online. You can keep a small notebook to tally your numbers, ask your bank for a "Transaction Register" or you can use the ones that come with your checkbooks. Numbers don't lie. Knowing what's in your bank account will let you know for sure if you can afford those Betsey Johnson earrings or if you'll have to pass on going out this weekend.
