The combination of those incentives should add up to substantial
savings on your credit card bill and those savings could be applied to debt settlements.
Not exact matches
If you lack enough
savings for emergencies, when that unexpected
bill comes along you may be forced to take
on credit card debt in order to pay for the unexpected expense.
I always spend a nice chunk of change
on this sale, so I start setting aside a little
savings about a month ahead to pay my
credit card bill.
Once you've decided
on a couple of
credit cards, take your average food
bill and make some calculations to see your potential
savings.
The first step is to stop using
credit cards and then you can deposit money into your
savings account
on a monthly basis as if it were a monthly
bill.
As we'll discuss below, many Americans don't have the cash to take
on all of their medical
bills, so they'll rack up
credit card spending or visit a payday lender after blowing through their
savings.
So, I started an excel sheet to track every ATM advance,
bill payment, check
card and
credit card purchase to see how much I was expecting to spend
on different things over the next month, so I could see if I needed to move money from
savings, or maybe wait
on buying something until after the next paycheck.
Review
credit cards Visa - Corporate Visa - Personal Mastercard Update networth
on Google sheets Review all bank and investment accounts
Bill payments if no automatic payment set up Move extra cash to high interest
savings accounts Invest Banks - buy or re-invest excess cash into term deposits RRSP Buy 1 / 60th of total as a 5 year GIC ladder TFSA Buy VGRO - DCA ie dollar cost average Corporate Account Buy VCN... Continue Reading «Monthly Financial Routine» →
Even if you have been careful in every area of your financial life: you pay your
bills on time, keep your
credit card expenditures at a modest level, put aside toward retirement and have an emergency
savings fund it does not matter.
Stay
on top of your
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This eliminates the need for placing veterinary
bills on credit cards or worrying about having large amounts set aside in
savings.
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It can provide your loved ones with cash
on hand to pay for funeral services and other items, without the need to use
savings or put the
bill on high - interest
credit cards.