Venus Rising

ProfileIssue: Scorpio 08 - The Money Issue

My Peace On Money

Look!

Read each and every bill that comes into the house. The monthly bills are often not set in stone as much as you think they are. For example, the cable or satellite TV bill. Most people pay the same amount every month without question. But maybe your household could sustain a change – fewer stations and features may mean more cash in your pocket. Review your connectedness. Is an internet connection really necessary on your phone, your home, and the work computer? Or is this an expensive convenience?

Read your credit card statement, looking closely at the details. Why are you paying an annual fee? What is the interest rate? What is on your monthly statement? Some folks use automatic bill pays and then forget they are there. Do you have charges for an AOL account you no longer use? Do you have some credit watch service at $9.95 when you could be doing this yourself?

I hear often “It is not worth my time.” However, I find clients who are surprised what they are spending once they look closely. For you, the monthly charge could be Netflix, the local gym, or a gourmet food service. Once they are there, you accept them as fact and a mandatory monthly expense. I am suggesting that you read your credit card statements and other regular bills. Then, reevaluate if that still makes sense for you today. 

Even one $20 a month reduction in a monthly expense, would mean an annual savings of $240. That alone may not fill the gas tank with rising prices, however, two additional $20 a month savings means you will have $720 to allocate to food, fuel and heat. That amount of money is worth your time.

Listen!

Listen closely to the offers you hear on the phone, on the TV or at the store. Yesterday, I was offered a slight change to my credit card. This was after I paid the bill late by phone and the woman had offered to waive the late fee. I was in a good mood and thought I would let her do her thing. Well, I kept listening. I could get bonus points on my credit card and redeem them for all sorts of things. Despite the temptation, I said “No, thank you.” She asked why?  I said because of the fee. “Oh, ma’am, the fee is only a dollar the first year.” I explained though that may be the case, I know myself well enough to know that next year I will forget and end up with an annual fee. No thanks, not for me.

She was so nice and she kept going on her sales pitch. Turns out she offered me a free card with bonus points that I still earn rewards on. Taking the time to listen carefully worked for me.

The question you need to remember is: Will this cost money? Usually, added features, free trips and amazing offers cost money. Be discriminating. Listen and hear everything before you change any memberships, sign up for anything, or renew what you already have. The money you save could just fill your tank and help with the groceries as well.

The Stop!  Look !  Listen!  Challenge:

This week pick two bills to reevaluate and take action on. Check the cell phone bill for better deals. See if your heating bill can be paid on a monthly flat fee basis. Every week this month change one thing about your spending or billing. Call about a bill, lowering a credit card interest payment, or stop going into those certain stores that urge you to spend money.

Reprinted with Permission from C.D. Moriarty’s September 2008 Newsletter. C.D. Moriarty is a financial speaker, writer and coach. She is dedicated to empowering others around their money so they can achieve their dreams. She is living her dreams by residing in the Green Mountains and helping others through her work. She can be reached through her website at www.moneypeace.com

To learn more about financial information and tips offered by Christine, check out: http://www.moneypeace.com/articles_resources.shtml