Spring Cleaning Your Finances – Part 2

Following our previous article on spring cleaning your finances, you should now have a more streamlined, efficient base from which to move forward financially.

 

We discussed ways in which to streamline your direct debits and standing orders, and how you can save money on your utility bills.

 

Today we look at ways to spend more efficiently on a day to day basis, and also how you can prepare for the summer in a financially prudent manner.

 

Use credit cards that offer benefits

 

It surprises me the amount of people who either don’t know about or just choose not to take advantage of the plethora of benefits offered by credit card companies.

 

If you’re going to be using a credit card, why not do a bit of research and find one that offers some benefits that suit your lifestyle and spending habits?

 

One of the primary benefits offered is cashback. This perk varies card to card, but can include cash back on purchases such as gas and groceries.

 

If you own a car, then such a combination would undoubtedly be worth looking into.

 

Another cash back offer that we see quite frequently is a cash bonus when you spend a certain amount using your card. Some reading of the fine print is required here, though, as many of these offers are time sensitive, and are only good for a few months after you first sign up for the card.

 

If you already have a credit card that you pay money towards every month then why not have a look for a new card that offers an interest-free period on balance transfers? This can cut your monthly credit card bill in half sometimes, and provides you with a period where your payment is going entirely toward your debt rather than paying off interest.

 

There are numerous other bonuses worth looking out for depending on the type of life you lead, such as travel offers, low interest and even cards that cater for students.

 

Look ahead to your summer vacation

 

I know it’s only spring, but some planning when it comes to your summer vacation can save you a pretty substantial amount of money.

 

Book early to take advantage of any “early bird” deals, and try to avoid traditional holiday periods when schools are out as prices usually increase.

 

Flexibility is also key, as you’ll find that better deals can be found for those willing to visit certain places, or fly on certain days.

 

Another piece of advice would be to use some of the money you’ll save by implementing the tips in this guide to save for your summer vacation. Start putting money away now and you’ll have a nice sum come departure day.

 

Pick & choose your times to use card over cash

 

Your credit card isn’t just for those big purchases that you can pay over a few months.

 

By using your card regularly and paying it off entirely every month you’ll see your credit rating improve, and you’ll find yourself eligible for bonuses, especially if you implement point number one from this article.

 

If you’re apprehensive about using your credit card due to interest charges, you don’t have to worry. As long as you pay off the complete balance within one month you won’t pay any interest in most cases.

 

When it comes to your finances, you’ll find that there are ways you can save yourself some money that doesn’t involve cutting back on the things that you enjoy.

 

All it takes is a little bit of research and taking some action.