Credit Cave

The cost of living has been rising steadily and shows no sign of abating. Today Shell and BP announced huge profits of over $14 billion for the first 3 months of 2008. What’s clear is that as the Indian and Chinese economies continue to grow, so will the cost of living. One of the most expensive commodities is gas for your car, so how can you reduce and save money?

• Declutter - It might sound a bit simple, but you will save money simply by removing any clutter from your car. The less rubbish inside your car (books, boxes of stuff in the back, coats etc) will reduce the weight of your car, which increases the number of miles per gallon you’ll get.
• Remove roof rack - It might be handy to have your roof rack but it increases drag and makes your car less efficient. Just by removing it you can improve performance and save money on gas.
• Keep windows up - Another easy way to decrease drag and improve performance is to keep the windows screwed up when on the move. With the windows up the car engine doesn’t have to work as hard to push the car forward, which means you consume less gas.
• Turn off aircon - Driving with air conditioning on means the car engine has to work much more and therefore use more fuel. You’ll get increased MPG with air conditioning off, and because you’ll probably sweat a bit you’ll also lose some weight!
• Turn off the radio - Anything that runs off the engine, even the radio, increases the amount of fuel consumed. Bring along your iPod instead!
• Don’t harge gadgets off cigarette lighter Again, it might seem like nothing, but even charging up your phone or laptop from the cigarette lighter can increase the amount of gas your car consumes. Charge your gadgets before you drive.
• Check tyre pressure - Every car has an optimum tyre pressure, and even the smallest digression can have a huge impact on fuel consumption. To avoid such inefficiencies make sure to regularly check your tyre pressure.
• Drive smoothly - One of the best ways to save money on gas is to drive smoother. Try and avoid stopping and starting the engine. Free wheel down hills where safe. Cap your speeds at 50 - 55 mph as this is the optimum for most engines.
• Car pool - If you have friends at work who live nearby then setup a car pool. This is both environmentally and financially friendly.
• Use a rewards credit card to purchase gas - There are many credit cards that reward you for purchases made on it. These rewards can range from cashback to air miles.

There are so many ways to save money, and it shouldn’t be just limited to certain aspects of you life. There’s a saying that goes something like this:

There are two things you can be sure of in life, paying tax and death.

Well I’d like to add another to that rather demure and completely uninspiring list, that of spending money. If you’re anything like me (alive, needed fed regularly) then you can start saving big next time you are stocking up. Here’s a few tips to get you started on the road to frugality in the kitchen!

1. Choose where you shop - Want to save money on food, then start training yourself to avoid those costly delicatessens and specialty stores. You may not agree with large, faceless, soulless corporate non-entities like Tesco and Walmart, but they are cheap. And when you have a credit card balance to clear, you can do with saving some cash.
2. Keep your eyes down - Yep that’s right, keep your head down. This isn’t some anti-ego post either, it’s purely a tip to keep more of your cash in your back pocket. Ever noticed that prices of goods at eye level are more expensive? Well, it’s not by chance. Supermarkets cater to our inherent laziness; we want in and out as fast as possible. And who cares about price? Wrong. Get those eyes down low, where the cheap goods are and start saving!
3. Shop in the evenings - Yeah, I’d rather spend my evenings on the sofa or chatting with friends, but if it means wringing that little extra out of your cash it then so be it. So why shop later in the evening? Well it’s simple really. All those perishable goods (bread, milk, cheese) have a date on them that determines whether they can be sold or not. So if something is due to expire tonight, it gets marked down to sell quickly. Hence your late night saving.
4. Brands cost more - Have you ever thought why or how brands can afford snazzy logos, fancy packaging and prime time television ads? It’s because they cost more. And just because they cost more doesn’t necessarily mean they taste any better. Be on the lookout for plainly packaged, non-branded and cheaper food on the lower shelves.
5. BOGOF - I don’t mean to be rude! BOGOF, if you haven’t worked it out yet, means ‘Buy One Get One Free’. If you see a BOGOF on an item you need to stock up on, get it. Nay, get two of them and save even more!
6. Collect your points - Most decent supermarkets run royalty schemes to keep you coming back. Make sure you are registered and that you have that card in your wallet any time you go food shopping. Start gathering your points and you can maybe get a few freebies out of them!
7. Be determined - It’s highly unfashionable, but giving yourself a food budget is so important. Whether it is £50 or $75, do not overspend. Squeeze every last penny out of your budget and do not be tempted by the in store advertising to spend.

So there you go, seven fundamental and ultra simple tips to make your money go longer next time you are out shopping for food.

Whether you realize it or not, a simple number can be the determining factor for many things in your life. Your credit report will be analyzed by a number of different companies throughout your life and it is vital that it be a correct reflection of who you really are. Here are fifteen easy ways that you can protect and improve your credit rating.

1. Stay out of debt - Although you need to have a little debt to start building your credit rating, don’t let it get out of control. If you don’t have the money to purchase something outright, reevaluate how much you really need it before you jump. Just think that one pair of shoes could mean the difference on whether or not you can buy a house in the future.
2. Get a credit card with a high limit - Just remember that you need to keep the balance low. This will dramatically improve your credit rating.
3. Stay on top of your report - If you find an error, get it fixed right away. There are numerous places like freecreditreport.com where you can get updates whenever something is added to your report.
4. Always pay your bills on time - This really does matter, especially with some services such as your phone bill.
5. Don’t over apply for credit cards - Only request credit that you actually need.
6. Don’t close out your credit cards - If you have no balance on your credit card, don’t close the account. Keeping it open and current will help improve your credit rating.
7. Close new accounts first - If you do need to start closing a few accounts, start slowly, sticking with the newest ones first.
8. Never max out any of your cards - This gives a bad impression on your credit report. Keep your balances low and pay down any cards that may be carrying a high amount of debt.
9. Be smart about transferring balances - If you get a new card that has a low interest rate, it’s fine to switch, but don’t let the balance sit there. Even if you get one of the many low interest credit cards, you’ll still need to pay it off as quickly as possible.
10. Go secure - If you are already in credit trouble, get a secured credit card and use it occasionally. Pay off the balance regularly and keep it current. You’ll be able to rebuild you credit.
11. Ask for an increase in your credit line periodically - Every six months or so, you should ask your credit card company for an increase in your available credit. This will help build up your score. Just don’t max them out once you do get an increase.
12. Never overspend - If you can’t afford something, don’t buy it. Find a budget that works for your income level and stick with it. If you really have to have something, start saving for it instead.
13. Open a savings account - Stable people have savings accounts. You can start putting aside a little bit here or there and over time, it can really add up.
14. Pay more than the minimum payment - Sticking with the minimum payment usually will handle only the principle on your account and not the interest.
15. Keep at least one good account open - If you are out of debt, it can be a relief, but you should keep at least one open account to keep your rating from sliding down.