Star Wars money lessons, avoid debt, mind your money, lose your budget and credit card fraud.
Money Talks News — Since “Star Wars: The Force Awakens” has raked in the money, let’s see how the original movies can help us collect some extra cash. Krystal has fun with this post, but her lessons are also serious money savers.
The third lesson is: “Pay your debts.” You won’t get “frozen in carbonite” like Hans Solo if you don’t pay your debts, but you will seriously damage your credit score and more. As you’re reading this post, you’ll also find out if Luke Skywalker is a “spender” or a “saver.”
Color Me Frugal — Now that we’re in agreement (hopefully) that paying off debt is important, let’s avoid it if possible. Dee provides basic tips, but they’re useful. Reviewing the basics sometimes is important — they are, after all, the foundation we build our financial hopes upon.
The fourth tip is: “Know Your Balance.” It’s mindboggling when you think about all the overdraft fees people get charged because they don’t know their account balances. With internet banking, checking your bank account can be done in a few minutes. So don’t get lazy, check those accounts.
Frugal Rules — We already discovered what can happen if you don’t review your bank accounts regularly. Now Cat expands on the importance of careful money management techniques in this next blog. She says “approximately 750 million dollars in gift cards will go unused in a year.” All because people aren’t paying attention.
She also discusses ATM fees and other bank charges people incur because they’re careless with their money. She says always check your bank statements and credit card statements because they could have mistakes on them. The bottom line is, there are a million ways you can waste your money. And if you don’t care for it properly, that’s what will happen.
Once Cent at a Time — We speak a lot about budgeting here. It’s a great money management tool. But some people hate it. Even if it is easier now with free online budgeting resources such as PowerWallet, a company that partners with Debt.com. To calm these adverse feelings, Thomas created a different money management method.
He says, “triage your spending into three categories.” They include: “Spending you won’t change,” “the reoccurring bills you might change,” and “the ongoing spending you are willing to control.” It’s an interesting read and may help people who don’t prefer traditional budgeting.
Money Manifesto — Credit card fraud is, unfortunately, a daily threat. Lance says before you can do something about fraud, you must recognize it. That’s why he carefully monitors his “credit card transactions at least monthly” and also reconciles his receipts to his credit card statements.
Lance provides step-by-step directions on what to do if you become a victim. But his main focus is on monitoring your credit card transactions. You may not stop credit card fraud, but if you review your finances, you should catch it before the thief ruins your credit. They can also steal your identity. So be vigilant.