Smart Money Advice – Part Two

If there is anything that we’ve learned with the recession, it’s that it pays to handle money properly. Even with all the bank loan tips and smart money advice out there, what‘s important is that we should be more careful.

Here are a few more tips on credit card usage and banking:

1) Be careful about choosing your bank or credit card – but once you do, stay with them. Long-term relationships matter. Once you’ve been with a bank or credit card for three or more years, they will treat you differently from someone who’s only been around for six months. For the same reason, the amount of participation is also important. A savings account where you deposit your paycheck or a credit card that you use regularly are treated better than a free checking account with a hundred dollars. The “perk” is that more consideration is given when a problem does come up.

2) Simplify. If your bank or credit card is offering you many ways to pay for expenses and purchases, choose the ones that you understand. Come up with a schedule of payments every month and make sure you follow it. Even if this means that you need a “banking day” or set time of the month to go online to settle all your bills, do it. Keeping track of your money is important, especially if you are paying large debts.

Click here if you want to read Part One.

For more about debt relief, consolidation, loan modifications and other related matters, sign up on the box at the right.