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Quit Smoking, Save More Than Health

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Smoking is dangerous to your health. Everyone knows that. All advertisements and cigarette cartons contain the warning. In other parts of the world, the warnings are quite graphic (cancer-ridden lungs and extremely decayed teeth for example), but this has not really stopped people from engaging in one of the dirtiest habits in existence, has it?

Here is another reason to quit smoking – to save money. In these days of economic troubles, practically everyone is looking for ways to cut back and make do with what they have. If you are a smoker, perhaps sitting down and actually figuring out just how much smoking costs you financially may help you get rid of the habit.

Forbes.com did this themselves and collated data from all over the United States, taking into consideration the prevailing prices of various cigarettes and the smoking habits of their residents. According to the findings, in general, people can save $200 to $500 a year.

Those who live in Delaware have the most to gain by quitting smoking. On the average, people smoke around 185 packs a year in this state. Financially, this costs the average smoker almost $1000 a year on cigarettes.

Think about it – smoking not only costs you the price of the cigarettes, but you also pay for lighters and other accessories. Then you have the potential health problems that come with smoking.

So, have you been wracking your brains on how to save a dollar or two here and there? Why not turn your attention to this habit? Maybe it is about time that you seriously thought of quitting.

Rules To Live By To Gain Financial Security

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Who does not want to gain financial security? In these times, financial security is something that we all seek for. Fortunately, there are ways and means by which we can achieve a certain degree of security. Here are some rules that are tried and tested. Live by them and find yourself on the road to financial security.

Rely on cash
I believe – and many experts will concur – that learning to rely on the credit card is one reason that many people today find themselves mired deep in debt. The rule is to spend cash whenever you can, keep that plastic for ultra emergencies. More so, when you find your assets frozen for one reason or another, and you need money fast, your cash might very well spell the difference between disaster and solvency.

Don’t rely on borrowing
I think that many have learned this the hard way. A lot of people I know used to think that borrowing to make more money was a good idea. Today, they are firm believers in the idea that if you have to borrow to invest, then you might want to think twice – and perhaps more.

Don’t buy more house than you can afford
Prior to the great housing slump that we are experiencing, people normally saw houses as great investment venues. They would buy houses that are way beyond their means, thinking that they can easily sell them off later on. The real estate slump has shown how false that thinking can be. Bottom line: your house will not make you rich, but use it as a savings tool.

Hope these tips help.

Unconventional Ways Of Raising Your Credit Score

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You know all about it – how to increase your credit score and keep it that way. Times do change, however, and with it, ideas. Here are some new ideas which might shock you, but experts say that they work to increase your credit scores. I’m not saying you SHOULD do them, but I think they’re worth a shot.

Method 1: Get more credit cards.
This is dangerous – very dangerous if you do not know what you are doing. The idea is to open more credit cards and NOT use all of them to the max. One important thing that creditors look at is credit utilization. If you have several cards and you only use each one up to 30% of the limit, you will be in good standing. Also, do not open credit cards all at the same time. Wait at least 6 months in between. And yes, do NOT max them ALL out.

Method 2: Do NOT request for lower APR on an existing card.
Conventional advice dictates that the lower the APR, the better for you. It still applies, of course, but the idea is to avoid asking for lower APR on what you already have. This is because by doing so, you run the risk of having a credit check run on you unnecessarily. And, if the creditor doesn’t like what it sees, then you might be in hot water.

Method 3: Consider NOT paying off closed credit card accounts.
It doesn’t make sense? Think about method 1 and the utilization of credit. If you have a small balance left in a closed credit card account, it can still be counted towards your credit utilization score. That’s a plus for you!

Savings Or Pay Off Credit Card Debt?

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Like many young people, I never thought I would find myself facing serious credit card debt. In my early twenties, I told myself that I would never fall into any debt trap. I had heard so many horror stories, and I just knew I would not live out one of those.

Boy, was I wrong! Many many years later, I am struggling with credit card debt, and if I don’t get a grip on things, I just might get buried. Naturally, I have been looking for ways to deal with this debt in the best possible way, as soon as I can.

One thing that I have been considering is using part of my savings and put more towards the credit card debt. A lot of people have been telling me that this is the wrong thing to do, but I do have a gut feeling that it might help. I did find a piece of advice at Money Central:

Earning one or two percentage points of interest on your savings, while paying double-digit interest rates on your credit card debt, gets you nowhere fast. To add to the injury, you pay income tax on the meager savings interest, and you can’t deduct the credit card interest from your income taxes.

Seriously consider paying off high-interest credit cards or auto loans with savings. Pay off the cards with the highest interest rates first. Be sure to keep enough money in an emergency fund or in available cash advances to cover three to six months’ worth of living expenses.

I think that is enough to convince me to get a little bit from my savings account. What is your advice for me?