“Money won’t create success, the freedom to make it will.” ~Nelson Mandela
Money, according to a classical definition, is what money does. And truth, as they say, is like a rubber band. Stretch it and it can do wonders. So if we can really make money in order to do whatever we want, there is nothing like that.
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Using our blissfully easy ways to save money tips is almost like a first-aid approach to a very intricate problem perhaps faced by almost each of us. It is important to know how to manage money efficiently to ensure bulky savings. Whether to save some part of what we have to spend or whether to spend at all on a service or commodity should be the first question to be answered.
- In the case of large investments, the first step for a prospective buyer is to identify and correlate the valuable item or service with need or desire. It is better to test its utility first, for example, by borrowing it for a fixed time period. If you are satisfied and convinced about its necessity and think that you really need that, you may buy it. But to save money, you as a wise consumer must find the best seller in terms of comparative pricing, quality & market reputation.
- For lower priced items, one has to shop for the lowest prices, also keeping an eye on the quality aspect. For example, if you take the instance of buying clothes, the best purchase is off-season discount sale, wherein you can get good clothes at cheap rates.
- For financial investments, like the stock market, follow the golden rule of buying volatile stocks when the price of an item is down & sell it when it is at a high. The profit thus earned can be invested in the equity market for steady items.
- Today’s Internet has provided the best opportunities to shop vigorously for the best price before you actually drop the money. Especially for insurance, loan facilities and financial management, one is spoilt for choices. Proper analysis of rates and amortization goes a long way in saving even hundreds of dollars in a year.
- Change of plan in case of services like telephone, insurance, etc. can save you costly dollars provided you simply have the knowledge about the best existing plan.
- Making a monthly budget for buying the essential items and regulating the number of luxury items can yield considerable savings.
- Expensive weekends and extravagant outings should be replaced by reasonable excursion for wholesale entertainment.
- Proper food planning and food habits result in better living, both financially and mentally. Stay healthy and you can save on medical bills. Having a proper food plan also prevents food from being wasted.
- Paying the bills within due dates provides invaluable savings, because, in this case, as you have to pay, it is better to pay in time to avoid penalty.
- If you are an employer, you should encourage flexible job responsibilities for your task force, making each one compatible with the work within a department. This will help in cutting down employees cost and help complete a task within time, even if someone is absent.
yitThere are obviously several other ways to save money and lead a frugal life without tension. It is always told that money saved is money earned. Just keep it in mind and stay happy.
“Remember that credit is money.” ~Benjamin Franklin
There are several ways that we can rebuild credit when you’ve had tough times. Financial abuse is real for narcissistic abuse victims! No one should judge you. But if you are tired of collectors hounding you, or if you are frustrated that no one will loan you money because you never had credit, it is time to learn how to build your credit. First, and foremost, never purchase items you do not need. If you ‘want’, do not let your wants wear you down and get you deeper in debt. If you are searching to build credit and have no history at all, make sure you have your priorities in order.
Bad Credit? Tips for Building Credit
So, you got yourself in a little trouble. Whatever the reason your credit’s bad, I’m not judging you. We’ve all been there–but we are here to fix this problem, not talk about how terrible it is, so let’s do this.
What are my rights when it comes to credit scores?
Your rights, as they apply to your credit and according to the FTC, are as follows.
- You’re entitled to a free credit report if a company takes “adverse action” against you, like denying your application for credit, insurance, or employment.
- You have to ask for your report within 60 days of receiving notice of the action. The notice includes the name, address, and phone number of the consumer reporting company.
- You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
- Each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report once every 12 months, if you ask for it. To order, visit annualcreditreport.com, or call 1-877-322-8228. You may order reports from each of the three credit reporting companies at the same time, or you can stagger your requests throughout the year.
- It doesn’t cost anything to dispute mistakes or outdated items on your credit report. Both the credit reporting company and the information provider (the person, company, or organization that provides information about you to a credit reporting company) are responsible for correcting inaccurate or incomplete information in your report.
- To take advantage of all your rights, contact both the credit reporting company and the information provider.
More Tips for Bad Credit Repair After Narcissistic Abuse
- There are systematic guides at your local library that will teach you, as a debtor, how to write letters to creditors.
- Don’t be afraid to call a creditor and explain your situation. Even if you have ignored their calls for months, they will work with you in most cases. Communication will make you feel better and will help your creditor to understand your situation. While it may not immediately solve your credit problems, it is definitely a step on the road to recovery.
- Any documents that pertain to your credit history should be stored in a safe area. If you send letters to your creditors keep a copy of each letter sent and store it in a safe area.
- If you notice any errors on your bills or credit, reports make sure that you contact the appropriate professionals and dispute the charges immediately. Once you have disputed the charges with the sources you will then contact your card provider and let them know what occurred.
- If you are lucky enough to have a credit card with bad credit, please don’t use the card to repay your debts and then meet the monthly installments on the credit card each month. That would mean getting out of debt while going in debt deeper–how sensible is that? It might seem like the only solution when all else false, but credit cards have interest rates so the bills each month on the card will increase.
If you’ve gone through financial abuse in a toxic relationship with a narcissist, chances are you might need to think about repairing your credit. While there are plenty of ways you can DIY your credit repair, you might find it overwhelming and want to look into a credit repair company.
Plus, if it’s been a while since you’ve looked at your credit report, or if the narcissist was hiding things from you (all too common in these relationships) you may be surprised to find errors, mistakes, or even a black mark or two.
How do you avoid an unethical credit repair company?
Fortunately, a Credit Repair Company can help you fix those mistakes and erase those black marks. Watch out for scammers, though, and choose a reputable Credit Repair Company with these tips.
Don’t pay anything upfront
Avoid a Credit Repair Company that wants you to hand over a fee or payment before they meet with you. That’s always a red flag. Reputable companies will first talk to you, assess your credit report and discuss your current situation before asking for any type of payment for their services.
An up-front fee is a red flag that the company will probably take your money and run. And no matter what type of charges you may incur, be sure they aren’t exorbitant. If a Credit Repair Company claims your case will cost thousands of dollars, look for another one.
Watch out for “re-inventors”
Some companies will tell you that you can wipe your credit slate clean by “re-inventing” yourself with a new social security number. But that’s not true!
In most cases, what they plan to do is get you a new credit report by applying for an Employee Identification Number (EIN)–used by businesses–which resembles a social security number, and you’re told to use it as such. But this practice, known as “file segregation,” is a scam, and it’s also illegal!
Avoid any Credit Repair Company that suggests this practice.
Look for a credit repair agency that helps you help yourself
A good Credit Repair Company will tell you (for free!) what you can do yourself, such as writing letters to creditors and contacting the credit reporting bureaus about errors.
Avoid any Credit Repair Company that encourages you to do anything illegal or unethical–such as disputing a legitimate charge or fee on your credit report.
Before signing up with any Credit Repair Company, make sure you check with the Better Business Bureau. They’ll have records of any formal complaints against the company, so you can avoid scammers and rip-off artists.
More Resources for Financial Abuse Victims