Financial Tips

  • Cash – Try to only keep on hand large bills.  It is less tempting to use a $50 bill compared to a $20 bill when you are out browsing.
  • Change Jar – At the end of the day (week) go through your wallet/purse and put loose change in a change jar and single bills into a bill box.  This not only keeps you from spending this loose cash, but accumulates over time, giving you some spur of the moment funds.
  • Always comparison shop as to where you will place your savings, IRA-CD’s, Annuities. This year, as my IRA-CD came to maturity, the interest rate dropped from 2.5% to less than 1%. YIKES!!  I shopped around, by checking with both our banks, our credit union, and our insurance company.  Fortunately, one of our small home town banks, has an investment department who shared the rates of their Annuity Plan.  I can’t use this money until I am 59 1/2 yrs old, meaning I have another 7 years to go.  So, I transferred my funds from my maturing IRA-CD into the Annuity for the same 2.5% I was getting in the CD-IRA.  Okay, not a lot is in this fund, but I will still be gaining $11-$12 a month over the next 5 years resulting in over $660 tax-free profit.
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