Saturday, August 24, 2013

Aggressive Money Saving Tips: Eliminate Frivolous Credit Card Spending

To survive modern society, I've noticed that I've had to employ aggressive money saving tips to stay financially afloat. I am a college student that recently branched from home to live on my own whilst attending college – while holding down two part-time jobs. This made me face something: I live in a financial bubble. My expenses were routinely covered by parental funding and student loans. Basically, anything that I wanted was reachable simply by demanding more money from my parents, or maxing out on school loans and credit cards. It's a dangerous bubble, but once it was popped, I learned innovative, even aggressive ways to save money. These are my aggressive money saving tips that any one can use in their daily lives.
Credit Card in Block of Ice

Freeze Your Credit Cards in A Block of Ice: According to a report in CNN Money, the average American household has over $10,000 in credit card debt at any given moment. My personal credit card debt was not as high, but was a constant annoyance nonetheless. However, it was an annoyance that was caused by my own frivolous spending. This frivolous spending was halted as soon as I iced my plastics. Aggressive Money Saving Tips for Credit and Debit Cards: Find the biggest container that you have. Try to sway away from glass – water expands when frozen, potentially splitting the glass. Fill the container half full of water. Freeze it. Place your credit and debit cards right on top. Freeze another layer of water on it. I use this
method to freeze credit cards that I hardly use. The ice is clear, allowing you to use your credit cards in case of emergencies. I actually use food coloring to cloudy the ice to force me to use the cards only under dire circumstances. This allowed me to save money, as well as to pay all of my credit card debt within several months.

Leave Your Cards Behind: If you have more self-control than I, then simply leave your cards behind when you go out. But if you had such self-control, then you wouldn’t be looking up a guide on aggressive money saving tips, now would you? Exactly. Aggressive Money Saving Tips for Those With More Self-Control: Leave your cards at home. Simple and sweet. It will prevent you from spending money.

Basics of aggressive Money Management: I am paid by my employer on a bi-weekly basis. What I do is tally up my expenses until the next paycheck, and remove them from my debit card at the ATM machine. This cash is my allowance until the next 2 weeks. When I lived in my “financial bubble”, I would implement this aggressive money saving tip, but I would find myself reaching for my credit and debit cards, regardless. As soon as I realized that I would have to pay my cell phone bill and my rent all by myself, a theoretical fire was put on my ass, keeping me in the straight and narrow on my financial management. It easy to see how the average American can be swallowed by debt from a relatively early age, but it takes a creative and insightful individual to implement aggressive money saving tips to ensure they stay afloat in today's economy.

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