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Saving Money for your Financial Future

August 20th, 2009 at 04:27 am

Most people focus on how much money they earn or make. The difference being that when you go to work you earn money and when you invest you are looking to make money. At the end of the day it doesn't matter how much money you make if you spend it all. Whether on bills or comfort items but wouldn't you like to live a better lifestyle or your current one cheaper? In today's economy more and more people are looking for ways to save more money and to reduce their expenses. Here a re few ways that should help you.

Save on Property Taxes
For you homeowners your property taxes can be a big part of your monthly expenses and with house values dropping your property taxes aren't going down. What do you do about that? Grieve them.

Up to 60% of taxable property in the U.S. is assessed at a value that's higher than it should be, according to the National Taxpayer's Union. And that means the property is taxed at a higher rate as well. Additionally, the American Homeowner's Association references a Consumer's Report article that up to 40% of property appraisals have clerical errors in them.

Did you know that less than half of homeowners ever try to appeal. Many homeowners don't fight back because they either don't understand the process, or feel that the amount of research and paperwork won't be worth the time. Try calling your local grievance lawyer and you could see a significant savings. You can find one who will only charge you if you win, now you can't beat that.

Credit Card Interest Rates
Call your Credit Card company and see if they are willing to lower the rate. Keep an eye on your mail because if they raise your rate FDIC Consumer Protection law gives you 15 day grace period to opt out of that increase. They will probably close the account but you will still be paying the lower rate. This doesn't always work if your rate increase was due to a late payment.

Paying Down Credit Cards
Do you find yourself having a few cards to pay down and you send them all $100 a month? The best way to reduce your debt quicker is to pay the highest interest rate card first. For example if you have 3 cards 14%, 12% and 10% instead of paying $100 to each you should make the minimum monthly payment to the 10% & 12% card and pay what remains of that $300 to the 14% card. Once that is paid of you start paying down the next highest card.

1 Responses to “Saving Money for your Financial Future”

  1. Jerry Says:

    Rolling the credit card payments is the best way to have some insurance that you can lead yourself out of consumer debt! We did this ourselves and got rid of over $25k in CC debt in under 2 years. It is such a great feeling...
    Jerry

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