I currently owe my credit card under 1500. What should i do to manage my money better?

Answer 1

The first thing you should do is have a good read of the "Get out of Debt" section on "The Motley Fool".
http://www.fool.com/ccc/debt/debt.htm
http://www.fool.co.uk/get-out-of-debt/get-out-of-debt.aspx

After that, make a budget.... this is where some SPREADSHEET software, such as "Microsoft Excel" or "Lotus 1-2-3" comes in useful.
First up listing what money you've got coming in, such as pay from working, etc.
Then list everything you spend it on, such as:
- Electricity
- Gas
- Water supply
- Telephone
- Internet Access
- Magazine / Website subscriptions
- Regular investments (e.g. SHAREBUILDER.com)
- Groceries
- expenditure on cigarettes & Alcohol (if you're into that stuff)

Then use the budget to see what your total incoming & outgoing cash, and where you can cut back if possible....... and perhaps use one of the many price comparison websites to see if you can get a better deal with your Electric / Gas / Phone supply, etc.

And perhaps also check to see if you can get a better deal with your Checking/Current Account + a Savings account with a better interest rate than any you may have now.
US BANKING
http://www.fool.com/money/banking/banking.htm

UK Banking:
http://www.fool.co.uk/current-accounts/compare-all-current-accounts.aspx

US Savings
http://www.fool.com/savings/savings.htm

UK Savings
http://www.fool.co.uk/savings/compare-savings-accounts.aspx

And perhaps also get your hands on one of the books written by The Motley Fool team. In particular "The Motley Fool You Have More Than You Think : The Foolish Guide To Personal Finance"
http://www.amazon.com/gp/search?ie=UTF8&keywords=The%20Motley%20Fool&tag=wormdanglecou-20&index=blended&linkCode=ur2&camp=1789&creative=9325

Answer 2

You have to view a credit card as a source for emergencies and a few things that you can easily pay off at the end of the month. It should not be a source for buying the things you can't afford easily out of your regular checking or bank account. People tend to buy these things, like a new tv, and after awhile it just adds up to thousands and with interest. If you can't afford to write a check for it, then you can't afford it, period. To get rid of the 1500, just quit using the card until it's paid off.

Answer 3

Cash is king. That's the number one rule. Well, that, and cash-equivalents are king.

Managing personal finances is very similar to managing business finances. Consider yourself your own business. Pay attention to your cash flow; do you bring in more money than you spend monthly? Or do you spend more monthly?

Manageable credit debt is better than no credit debt, (surprisingly to many). Lenders consider you less of a risk if you can manage you credit debt (ie have a solid credit history where payments were made timely), than if you have no credit history at all. Think of it, if you were to loan money to someone you didn't know, would rather loan money to someone you knew had borrowed money (from someone else) previously and paid them back? Or would you rather loan money to someone who had never borrowed before? In the second scenario, the lendee has a repayment history you can see, and provided they paid it back timely, you'd know they were trustworthy enough to loan to again.

Buying on credit is fine, as long as you know you'll be able to pay it back within a reasonable amount of time. But you should never buy outside your means. Again, look at the amount you spend monthly vs. the amount you earn monthly. If you're able to save money each month into a savings plan (savings account, stocks, CD, IRA, etc.) then you're doing fine. If not, see where your money is going and explore ways to curb the expenses (i.e., cooking and eating-in vs. dining out all the time) you have.

Answer 4

Create a budget each money and try to stick t it. Don't get too much into it that you start recording every cent or it'll feel like a chore and you won't keep doing it. Just use it to see where your money is going. That Starbucks coffee may sound good each morning, but it really adds up over a month. Also don't charge things you can't afford to buy.

Answer 5

the ideal element may well be to call shopper service on the cardboard business company. clarify your venture and say which you will possibly % to pay it in finished, fairly in the event that they might knock off numerous the late costs etc. many times you may artwork out a freelance. besides the fact that make certain you get something in writing and don't in basic terms verbally agree. you will possibly desire to deliver interior the agreed upon quantity and then get yet another invoice for the version. good success.

Answer 6

This woman almost lost her home & family- it started with a gasoline credit card. I LOVE HER...
http://www.cheapskatemonthly.com/

Answer 7

look at www.suzeorman.com, and davy ramsey

Both are good financial advisor. Pay off cc as soon as possible. Did you know that by paying the miniunim you are being double charged(% wise) if i can recall. research it

Answer 8

If you tend to buy on impulse, destroy the credit card.

Answer 9

don't spend money on things that you absolutely don't need. Keep your spending to the basics.

Answer 10

I suggest you make more easy money doing surveys :) http://www.treasuretrooper.com/200935