Change Your Bank to Save Money

coinssmallerEverybody is trying to save money these days and it is not easy. One simple thing you can do is change you bank!

If you bank is charging you fees for everything you do there, including putting your money in; it is time to change your bank.

I use a credit union and have no fees for anything I do there. PLUS I also make 2% interest on the money I have in my checking account! How many people can say that any more?

Look around, don’t let you bank rob you blind. You can check online for the banks and credit unions in your area and check out what their fee schedule is. Save a couple dollars here and a couple dollars there can add up quickly.

 

Money Tip – Pay More Than Minimum on Credit Cards

credit cardsIf you really want to get out of debt, you are going to have to start paying more on your credit cards than the minimum amount!

Start with your highest interest rate card and pay whatever you can on that card until you get it paid off.  Yes, this is going to hurt but, if you really want to get out of debt this is what needs to be done.

Try to pay a little over the minimum on each of the other cards you have also.

Negotiate with your credit cards to see if you can get lower interest rates on them.  If you find one card that will lower your interest rate considerably, consider transferring over the debt from your other cards.  You may also be able to work in a no fee transfer arrangement with this card, ask, it can’t hurt.

It may take you years to get your credit cards paid off, but, if you make a serious effort to payoff what you can afford, you will get to being free of debt once more.

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Reduce Wrinkles with Used Tea Bags

eye-openSave money by not paying for expensive wrinkle creams to get rid of those bags under your eyes.

Save your used green or herbal tea bags and put them in the refrigerator,  when they are cold,  lay one on both eyes and relax.   The extract  from the tea helps reduce the swelling under your eyes so you look healthier, which  makes you look younger.

Love to hear about your tips or tricks for reducing wrinkles.

What Not to Outsource

outsourcingThe other day I talked about “Outsourcing” some of your work. When you’re growing a business and you have lots on your plate, some times it is advantageous for you to Outsource some of your work so that you can spend your valuable time on the crust of your business and let someone else handle the mundane daily activities.

Now, how about things you should “NOT” outsource, let’s look at that for at a minute;

You should not outsource your core competencies. Meaning, if you are a copywriter you should not outsource writing copy. Or at least not until you can afford to hire someone who writes as good as you do. You also shouldn’t outsource relationships with investors, deal making or setting the direction of your company.

Other than these four main things, your core competencies (ie. copy writing in this instance), investors, deal making, and direction, almost anything else can be outsourced. The 64 million dollar question is: “What is your time worth?”

Let’s just say that you value your time at $50 an hour. If that is the case, any time you can outsource a task for less than $50 an hour, you’re essentially “making money.” This of course also has to take in account that you are actually already making money. If you are not, then you might have to devalue your own work a little and say your time is worth a little less.

You can still outsource at a significantly reduced rate by using an outsourcing company like oDesk or Elance, where you tell them what you will pay for a job and people bid on it. I have had a lot of success with both these companies.

There are people out there in the world looking for work and they are willing to do it for a lot less than you think. Check them out.

Let us know if you have every used an outsourcing company or ever outsourced any of your work, we would love to hear about it.

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Money Tip – Don’t Shop When Hungry!

ShoppingYou have heard it before, but, if you really are serious about saving some money this year, this is something you absolutely have to do.  When you go to the store hungry you are more likely to make impulse buys and get off track of what you really went to the store for.

Also, always make a list of what you need at the store and do not buy anything that is not on the list unless it is an absolute must have.  If something is not on the list make a trip up and down a few isles evaluating if you really need it.  If after several isles and some serious thought about it, you still need the item, then by all means get it.

Saving money takes some willpower, so does shopping when you are hungry, so, avoid the need for willpower when shopping and eat before you go.