Comments on: Ways to Save Money #10: Don’t Carry a Credit Card Balance

By: Deanna

Deanna — Thu, 19 Aug 2010 19:43:19 +0000

Another easy way to avoid a credit card balance is to use retail tools like layaway when making purchases. Paying a fixed amount over a finite period of time gives you a sense of accomplishment once the purchase is paid off. Plus it’s interest free!
Deanna (on behalf of Kmart)

By: kitty

kitty — Tue, 12 Feb 2008 04:45:36 +0000

An easy way to handle changing due dates is to sign up for automatic payment. Then they deduct your full payment from your bank account on the due date whenever it is. I do it with my main card. One advantage is that they always deduct exactly on the due date, so you get full grace period whereas when you pay yourself, you need to send the check in advance. Occasionally they deduct a couple of days later – but since it is their choice, it isn’t your problem.

By: Plastic Rewards

Plastic Rewards — Mon, 11 Feb 2008 18:15:29 +0000

Another good idea is to let your paychecks sit in a money market or some other type of interest-bearing account until you pay off your credit card bill for the month. Even a savings account that pays very little interest is better than a no-interest checking accounts.

By: Fiscal Musings

Fiscal Musings — Mon, 11 Feb 2008 14:42:36 +0000

Using credit cards for the rewards or cash back is great, but if you have struggled with them in the past you may want to think twice. It’s not worth the one percent cash back if you have to pay even one month’s interest.

By: Matt

Matt — Mon, 11 Feb 2008 13:38:54 +0000

I can’t wait to get to this point! I’m still fighting down my legacy debt and until I can get rid of it my transactions will consist of as much cash as possible. Good advice once you’re debt free.