Debt Free Life Hacks: Managing Money Like a Boss

Have you ever really looked at your credit card bill? Carrying a balance, even a small one, can add up over time when you consider the interest. Sometimes, statements will include your balance, the minimum payment due, the interest/intersest rate, and the amount of time it will take to pay off the debt if you only pay the minimum - granted, you don't make any new purchases. It can be a little scary and even more reason to pay it off sooner than later.  Take a look at the example below: It’s a good idea to pay attention to your bill - in this case, the creditor is very transparent. Here’s a card with a relatively small balance, a high-interest rate (25.24% ), and a disclaimer. Highlighted in green, it states, “ If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance .” Given the facts - it would be in my best interest to pay more than the minimum - even if I can’t pay it all. Why? Because paying just the mi...

Have you ever taken your vehicle in for some routine maintenance only for the service advisor to provide you with a full list of things you should have done? I'm sure this has happened to many of you, and typically we're prone to think that they know what's best, and although you were getting a simple oil change that was under $100, you'll just go ahead and get all these recommended services now nearing the $400 mark.   Pump Your Brakes Before you agree, find out exactly what is going to be done. If it's an urgent issue that needs immediate attention, by all means, use your best judgment, but if it is seemingly minor items or services you're unfamiliar with, it's best if you do some research.  Doing Your Research Ask the service advisor to explain each of the recommendations. Ask if the recommendations are from the manufacturer or the repair shop. Ask for a printout of the recommended services. Only get what you came in to get and then research the recommend...