Save Money by Using Less Credit Current Credit Card Balance = $1,715.24 Minimum Payment Due = $18 Due Date = 21 days If you make no additional charges on this card and each month you pay… You will pay off the balance on this statement in about… And you will end up paying an estimated total of… Only the minimum payment 12 years$2,685 (969.76 in interest) $553 years$1,977 (Savings = $708)
Pay Day Loans Rent to Own Car Title Loans Pawn Shops 400-800% 40-700% Rapid Tax Refund Anticipation Loans Subprime Types of Credit
Ideas for Saving Money $ Look out for debit too!
Overdraft Protection? Option to opt-in to overdraft protection: Debit card transactions Withdrawals from an ATM Does not include: Checks Automatic transfers
…One more idea for Saving Money $ Track your spending.
How do you know how much money you’re saving if you don’t know how much you’re spending?
$ Notebook $ Receipts $ Checkbook or Bank Statement $ Calendar $ Envelope Method $ Computer (free programs on the web or from some banks) Ways to Track Spending:
Compare income and expenses once a month. Income Spending
If something happens and you can’t pay bills... Act now! Financial Counseling www.debtadvice.org