WalletRehab - Ways to save money

I’m constantly amazed by how many people continue to ignore their credit report and scores. In this day and age of skyrocketing gas prices and interest rates, your credit report is more important than ever. Every year, I get my credit report and my credit score mailed to me from the three credit agencies to ensure that everything is looking good.

Here aer some things that affect your credit score:

Pay on time

Late payments on monthly bills will damage your credit report score quickly and they should be avoided . Bank loans and credit card debt don’t seem limportant, and are probably easy to miss paying. It is much harder to miss paying the utility bill like gas or electricity. To make paying easier, make sure you’ve got your internet banking setup so you can pay everything on-line. Who writes personal checks anymore?

Close Accounts

Credit history is very important to credit scoring companies. Close the newest credit accounts and you will improve your score by reducing the credit you have available. This will limit the chances you go crazy on a credit score. Keep your oldest accounts open, as they show your longest history of payments.

Pay down your debt

Pay your debt down. The more debt you have, the more of a credit risk you are. It takes a lot of discipline to payback your loans, and the best way to payback loans is by not having them. This of course includes credit card loans, and some loans are unavoidable like home mortgage loans. But if at all possible, do not buy new cars. Instead buy used cars where you can avoid buying using an auto loan.

Boost your credit report score

A secured credit card can be a great way to build your credit history up. Sure, you may not quality for an unsecured card, but the credit history from a secured credit card looks exactly the same on your credit report. The longer your credit history, the better you look to the credit scoring companies.

Keep only a couple credit cards

I used to have a ton of credit cards in my wallet. But I’ve learned that it’s best to limit the amount of money I have in my pocket, the number of cards in my wallet (avoid impulse buying). The fewer cards you have, the less credit you have available, and you don’t seem quite so much a credit risk to the credit scoring companies.

Building a good credit score sounds simple, but it is very difficult to make happen. It takes a strict sort of discipline and takes a while. Unfortunately, there is no quick fix for making it happen, but in the end, that A+ sterling silver credit will be worth it.

Credit cards are the last thing you should do to save money. They come with high interest rates, and they compound every month you don’t pay them off. Furthermoer, most cards charge fees for using them annually. Some of these tips can help you reduce how you use your credit cards, or at least save some money if you have to.

Pay your balances immediately

There may be times in emergencies you need to use your credit card to pay bills, or purchase things off of the internet. In this case, make sure you pay the debt immediately and avoid late fees. Payoff the balance as quickly as possible, as credit card companies tend to raise rates regularly.

The savings can be substantial as they compound month by month, often by over 20% in a year.

Stave off Impulse Buys

The more money you have in your pocket, the likelier you are to spend it. A credit card in your pocket is like having all your money in your pocket, a temptation that is often hard to resist.

Debit Cards

MasterCard’s and Visa’s debit cards are great for usage on the internet, and will help you monitor your spending. They are not credit cards though, and you need to make sure you treat them as such. You wont get into credit trouble, but you may inadvertently spend your rent.

Avoid Cash Advances

Cash advances are dangerous. When using your credit to get a personal cash advance, the interest rate almost doubles. Interest starts getting calculated almost immediately with cash advances too.

If you are in debt save money by not using credit cards. Credit companies that say that they can get your out of debt are trouble, as they are actually seeking the opposite. They are tempting you with the dream of cheap almost free credit. The same goes for pre-approved cards and any with upfront frees. In all likelihood, there are loopholes you could drive a car through.

Tired of paying high studen car insurance premiums? If you are a student, this advice can help you get cheap quotes on car insurance. Follow this advice to get quality car insurance at low rates.

1. The kind of car the student driver has influences the cost of your insurance premium. 4-door sedans cost less to insure than 2-door cars. This can be from $20-40 on a 6 month premium. The differnece can be even more if the student is a high-risk driver. 4WD pickup trucks cost 10% more than standard pickup trucks. Likewise, car insurance for mini-vans is less that that of a 4-door sedan. Older cars can save big on car insurance because the damage coverage is optional. Unless of course, you used a loan to purchase it. All cars that are purchased with loans need to be insured.
2. Take driver’s ed. Auto insurance will discount your auto insurance by aout 5% to those who have taken driver’s education. This discount applies until students reach the age of 25. Many high schools still offer student driver’s education courses.

   Nowadays, you an even take an online driver education course, which sometimes can cost less than the offline versions. Check with your state DMV to see if they will accept an internet driver’s education course, and make sure the on-line driver’s education course provides you with a certificate of completion.

3. If you are a good student, your GPA can get you a good student discount. If you have a GPA or higher, you are eligible for a discount.

By following this advice, you should be able to get some decent cheap car insurance and save some money. Maybe even up to 1/2 what you are currently paying.

Man, if you haven’t picked up a cell phone, you should have. For most people, having a cellphone is as vital as having electricity, water or even oxygen. They’ve become cheap erin the recent years, but they still are expensive as part of your monthly budget. Most people want to save money while still getting the best cell phone plans they can. Cellphone plans are based on usage, so you need to think about how much you will need it, and try to get the right plan. Here are a couple tips for people looking for a new plan.

Compare Providers and Plans

Choosing a good cell provider is key. There are a bunc available, including Verizon, Sprint, T-Mobile and Nextel. Compare and revie plans from each carrier to find which is the cheapest. Consider price, number of minutes and the hours for weekend and evening use. Consider these things when you make your package and provider comparisons:

• Rollover minutes are minutes that are unused in one month, but can used in the next following month. They last for about a year, and help you save money. You need to find a plan that will allow you to keep your rollover minutes.
• Becoming a master of text messages can also save you a lot of money. The more you text, the fewer expensive minutes you use.
• Evening and weekend minutes are cheap, and for most of us, when you make most of your personal calls. If you use your cellphone for business use, then weekend minutes are not quite so attractive.
• Some services allow you unlimited mobile to mobile calls. Take a look at what your friends use, and see if you can get free minutes with them.

Try Using Prepaid Cellular Phone Plans

If you don’t use a lot of minutes, use a prepaid cellular phone plan. You will never need a contract or have monthly feeds. Just pay as you go, and refill your phone whenever you need moer minutes. Most cell phone carriers have pre-paid plans now.

If you have bad credit or can’t afford to sign up for a contract, a prepaid mobile phone plan is perfect. It is impossible to accidentally run up a high bill, and you will be in total control of your phone spending.

Family Cell Phone Plans Can Help Save Money

Family plans can help you saved money. You buy one plan with several phone numbers, and it’s always cheaper than getting different rates for different people. You can even cal everyone in the family for free, making it easy for parents to keep in tuoch with children.

There are a bunch of ways to save on your mobile phone plan. Compare the various companies and plans to reduce your rate, then drop the extras. If you’re in a family, switch over to a family plan. If you’re single, think about a prepaid plan to keep your spending in check.

Simple, huh?