E a c h new year offers a brand new start. Any rear-end review must be of the kinder-gentler version, if we hope to benefit. Bullying and regret do not work. Not do budgets–ask Suze Orman. We owe Suze. Because of Suze two of us put massive down payments on homes, instead of leaving it in the market. Not long after, the Great Recession ripping a hole in the market. We listened to Suze, and still rank as homeowners as a result of her. All ten of the following will produce pure goodness. Try them and find out.
New year’s provide a clean slate. Try one of these moves and you’ll love your results. A mind stretched never returns to it’s former size.” Albert.
1. Pay Down-Off Credit Card Debt.
Piratical: English, root–“pirate;” working definition of credit card interest rates. Where next? Up, soon.
Yes yes we know. We all know the butt-nasty truth. Credit card debt is cancerous, dangerous, backward, and for some, at times, required. Yet, raging honesty shines the light into the sloppy corners of our credit use. Think, if you’re maintaining an interest-loading credit balance.
Have you applied for even one 0% APR card? They can’t take your birthday away for trying. Forget that whiny crap about “being turned down hurts your rating.” Your credit rating is costing you 25% revolving right now–or whatever your card(s) screw in. Your credit rating is costing you money, not making you money.
Revolving Credit loves you. Look how focused she is.
Moving interest-loaded balances to a 0% APR card is the move. Can”t qualify? You try? Getting a 0% card far outweighs any worry about “hurting your credit score if turned down.”
Laughing about credit card rates, and fixing to tell absolutely everyone. Or not.
2. Apply for a 0% credit card with cash back, bonus, and use it.
Several types of cards exist–cash back, air mile, gas/shopping. What works for you? Credit’s not a trap when you know how to use it.. Serious money-building offers are running now. All you do is apply and leverage toward your goal.
Playing those great bank card anthems.
Offers are generous and numerous. Look around because it’s worth it when you handle the perks correctly. How’s that?
StockJaw has been all over this question lately and here’s the full lowdown.
Savor all the tremendous great stuff you can do with 0% cards.
Pay Yourself First
The Moneyed Make Others Wait.
That’s How They Roll. So Can You.
Pay yourself Now
Your Dollars are Your Employees.
How Many Work?
4 Ways For FICO to Pay Now
0% Means Free Money, and Cash Bonus, and Cash Back.
Get Paid to Use the Bank’s Money, and Build One Sweet Nut.
You Want the Bridge Too?
Many others exist. Look around.
Comparecards.com–“10 Best Cash Back Cards.
Roll that debt over to the 0% side.
3. Transfer interest baring debt to your 0% card.
Really doesn’t matter what options exist, if we don’t use them. See what’s really in your wallet. Most people have multiple credit cards. Most people receive offers–many over the past four years. If carrying a interest-loaded balance on any card find an alternative. If you have no card offering a better rate, you’re up again next.
4. Open Your New IRA–Got One? You Know What’s Coming Next. Contribute. Leave a 401K Behind?
The IRA, or Individual Retirement Account is the sinlge best retirement vehicle going–that’s legal vehicles. Traditional IRAs allow tax-free contributions, thus allowing all capital gains to grow tax free. Big balls get bigger quicker.
Roth IRA’s accept post-tax dollars only. All subsequent investing gains are thus tax-free. That is unless you invest in any so-called MLPs, or Master Limited Partnerships, like oil, gas, and NGL, pipeline companies ETP, or EPD. Either way, the IRA is mandatory. If you current income is on the lower side now, consider the Roth. It’s great.
If you have an IRA that meets your needs then bravo and put it to use now. If you left a 401K behind, scoop it in. It’s 2018. Do you know where your money is?
5. Transform you thinking and money sensibilities by handling, ordering, flattening, real cash.
How funky does that make you feel? We’ve been warned forever about “love of money.” Exactly what financial shape were those people in? Just because you’re wearing a Superman tee doesn’t mean you’re king of the gym. Money’s money and it hasn’t said a thing to us, or about us. Yet, the required pursuit of it has been demonized. What sense does that make? It’s o.k. to have some , but not too much. It’s o.k. to think about it some, but not too much. It’s o.k. to be pleased when performing well, but not too happy. Whatever.
Here, please apply the exact opposite of all of the above. Money has friends and wants to invite them over. But you must get the cash ball rolling. How? Stash some–cash we mean. Make it nice. Smooth wrinkled bills float. Restore folded corners. Organize it bby denomination. Do not spend it. When receieving change from a purchase, ask if you can have a different bill when presented with limp, lifeless, rags. Kiddning? No. It’s called respect. We’ll share more later on exactly how. It’s a mind game–in part.
Financial industry debt-collection tool.
Get Physical With Cash.
Digitized currency has no substance. Digital currency lacks volume, or the requirement of manipulation. Intangibles are difficult to measure. That’s how the credit card issuing business works. That’s why getting physical with your money will create “value and volume sense.” The flow of cash makes the intangible tangible.
6. Create One Financial Goal. Make your goal Near-Term So You Can See Your Proof. Do It Once and You’re Onboard.
Goals guide, and motivate. That’s why basketball courts have goals. Cash funds have goals, when we assign them. For example: StockJaw has a current “cash fund” we fuel by this very technique. We pay ourselves first, in nice bills, and feed a temporary cash fund in our safety deposit box.
7. Pay yourself Now and First, Always. Who Elso Will?
Firmly taking your place at the front of your pay line makes perfect sense. It’s your money. It’s always been your money. Now it’s time to collect, and you’re doing your collecting. What’s complicated about that? In reality, there is one more crucial step. What you do with it.
How long are you going to own that specific dollar? Because you only get to own it once.
Clearing debt can be an ugly dirty job. But it’s good work and it pays well.
8. If not already, Consider stock of index fund investing. Doing nothing will not work. Bonds will not get you there. Real estate, maybe. But do you have that kind of jack?
TINA. “There is no alternative.” Like we said, if you have the jack for real estate, fine. Do some of that. Otherwise, you’re looking at the stock market. Low cost index funds deserve their good reputation. The simple benchmark-tracking S&P 500 index fund is a classic and the standard. For our ring-time review of managed funds catch–
Mutual Fund McManagement.
Now with Low 5.75T McLoads.
9. If investing already, shake it up–find the new.
Find the new and learn something you need to know. How hard is that–really? Everyday the lessons spread before us begging to just be picked up and made ours. Once ours, they’re ours forever. Too sweet. Learn it you own it. Pick what suits you–an area of investing and improve your grasp. Of find a new tangible exciting goal. If you can’t think of one, you’re not truly trying. They are everywhere always.
Thanks for reading. Keep looking.
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Investopedia.com. Seriously Wonderful. Fact.
Charles Schwab. In Our Opinion, the best broker going.
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Be careful. Do the work. Have patience, with yourself. Never put your dreams away.