Simplify and Save in 2008
WEB EXCLUSIVE!
3) Save money on bill paying.
Paying bills is never fun, but technology has made the task quicker, easier and a little less costly.
Nearly all banks have websites these days and most offer free online bill paying. Once you sign up and choose a password, you can log on to the bank’s website and enter the payee’s information, your account number and the amount to be paid. The bank takes over from there, either by mailing a check to the payee or making an electronic money transfer. By paying your bills online, you save yourself precious time, the cost of postage and paper checks, and trips to the post office.
4) Slay the credit card monster.
Credit cards have been compared to drugs; they offer short-term pleasure in exchange for long-term pain. When uncontrolled, the credit habit can lead you down the road to financial ruin, sweeping you up in the illusion that you have more money than you actually do. Equally important, carrying a plastic-filled wallet increases your risk of becoming a victim of identity theft.
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If you know it’s time to slay your credit card monster, begin by deciding which cards to keep. Perhaps you’ll keep one of those “rewards” cards, or maybe a low-rate card for purchases you can’t pay off in full. If you maintain a separate card for your business, you’ll also want to hang on to that one. Then, cancel the rest of your credit cards on a controlled basis, perhaps one card or two each month. Start with the newest cards —credit-reporting agencies look favorably upon a longer history of responsible credit usage. Once you reduce the number of credit cards you own, your wallet will be bulging with the money you’ve saved instead of all those plastic squares.
5). Dig out from under all that paper.
Considering the amount of paper you’re required to slog through for business purposes, you don’t need to worsen the burden by hanging on to stacks of records because “you might need them someday.” In reality, most of your old papers will never see the light of day.
To reduce paper clutter, open your mail right over the wastebasket and throw out any mail you don't need, such as unwanted catalogs and advertising offers. Then, sort through your existing paperwork and get rid of anything else you don’t need.
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