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March 19, 2019

Greetings Thrifty Friends,

HugeSaleDo you have old library fines or parking tickets you have ignored? Have you made small claims on your home owner's insurance or skipped payments on your student loans? These kinds of small financial fudges can have big impacts on your financial future.

Keep pinchin' those pennies,

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* To raise revenue, many U.S. libraries and municipalities are turning unpaid debts over to collection agencies. Once an agency takes over your debt, even if it is only $20, you can count on a big dent in your credit score--100 points or more.

* Making insignificant claims on your home owner's insurance can increase your monthly premiums, and you could even be dropped as a customer. You should pay small repairs (those less than $1,000 or less than your deductible) out of pocket.

Do you have trouble sleeping? Do you lie awake for hours? The Bamboo Luxury Pillow is your answer to a good night's sleep.

* If at all possible, do not cash out your 401(k) when you leave your job. Roll over funds into a personal IRA so your money continues to grow, tax-deferred. In 20 years, $2,500, the average 401(k) cash-out, can grow to $11,652.

* If you find yourself out of work don't just stop paying on your student loan. If you stop paying a $20,000 loan with a 6.8 percent interest rate for 12 months, you'll pay an extra $1,360 in interest and fees. Let your loan provider know that you're out of work. By law, every lender must offer programs for customers experiencing economic hardship.