Tuesday, December 11, 2012

Greetings Thrifty Friends,

Are you in financial trouble? You may not think so, but if you can identify any of these red flags then you might be in worse shape than you think...

Keep pinchin' those pennies,
Penny

P.S. ARE YOU STILL SHOPPING FOR CHRISTMAS? Tomorrow (that is Wednesday 12th) is that last day to get regular shipping for any products you buy for Christmas. You can still order after tomorrow, but to guarantee it by Christmas you have to use UPS, which is more expensive. So check out our Stocking Stuffers Here for gift ideas or try the link at the right of the page. Happy Holidays!


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TODAY'S THRIFTY TIP:

You keep overdrawing your checking account. If you are constantly overdrawing your checking account - even once a month - you need to get your financial act together. You are likely spending too much money and possibly accumulating too much debt. Build a monthly budget and sticking to it.

Your credit card payments are shrinking. If you can only afford to make the minimum payments on your monthly credit card bill, you've got a borrowing problem. pay at least twice your minimum card payment. That should keep you out of credit card trouble.

Your emergency fund is 'zero.' If you don't have an emergency fund, you're courting big financial trouble. Experts say you should have at least six months worth of income stashed away in a savings fund.

You have to choose which bills to pay. If this is a monthly occurrence then you need to revisit your budget and see where you can cut.

Your credit score is below 620. The lower your score, the more expensive it becomes for you to get credit. Read your credit report at least twice a year and address problems right away.