After reading the article How Credit Scores Work, I am more aware of the importance of credit scores. Honestly, I do not even know what my credit score is. The next thing on my list is to go to one of the free sites and get my score. I wasn't aware that your credit score could effect insurance quotes.
I have a very loose spending budget. After looking over the links, I plan on thoroughly reading the University of Florida's info. I hope to be able to look at my finances and see how using this model might help me save money. The first thing I plan to do is to keep better records (on a weekly basis) of my expenditures. I'll try not to be surprised when I see that Starbucks is in there several times!
I am eligible for retirement but my financial situation does not allow me to retire. So hopefully some of the steps mentioned above will get me closer to day! The retirement plan through TCDRS has always been very impressive to me. The fact that you are guaranteed a 7% return on your savings is phenomenal-especially during our current economic situation where some individuals are losing 20-30% of the investments through mutual funds. Also that your savings will be matched @225% upon retiring is unheard of. I haven't taken the time to signup online - I've always just waited for the yearly report we get. I think I'll take the time to signup soon.
Wednesday, April 29, 2009
Tuesday, April 28, 2009
Money & Finance #58: Banking, Budgeting, and Spending
My bank does offer online banking and I use it on a regular basis. My account is a free account since I have automatic payroll deposits. There is a fee for too many checks which I try to avoid. I use it to track my checks and debit charges - checking to see if they've cleared and when. I also use it to verify debit amounts when I'm not sure of the correct amount. I bank with a very large bank that takes exceptional security measures. I've banked with them for over 25 years with no complaints. Several years ago, my debit card was not returned to me at a fast food restaurant. I didn't realize it for a couple of hours. By that time, the card had been used at three different local gas stations. My bank took care of everything within two days after I notified them. I've been told that if you have a debit/credit card, it's better to use the credit and sign for the charge rather than use the debit and pin number method. I regularly check my online account to make sure there has not been any fraudulent or unauthorized use.
I looked over all of the budgeting websites listed. I signed up for Mint, but did not enter any of my account info. Still not feeling to secure about that. I want to look into their security a little closer before trusting them with all of my account info.
I've started using coupons again when I can. Someone at our branch came up with the idea of a coupon donation box in the staff breakroom. Everyone can feel free to contribute or take any coupons they need. I think everyone is enjoying it. I have! We've recently joined Costco. I think in order for it to be a savings place for us, we will need to do some significant research on the items we purchase to make sure they are cheaper than our regular grocery stores. We're driving older cars in our family and are just hoping that they continue to get us where we need to be. If we had to purchase a new car, we would like to consider the Prius. It's expensive but the gas savings might offset some of the car note.
My bank does offer online banking and I use it on a regular basis. My account is a free account since I have automatic payroll deposits. There is a fee for too many checks which I try to avoid. I use it to track my checks and debit charges - checking to see if they've cleared and when. I also use it to verify debit amounts when I'm not sure of the correct amount. I bank with a very large bank that takes exceptional security measures. I've banked with them for over 25 years with no complaints. Several years ago, my debit card was not returned to me at a fast food restaurant. I didn't realize it for a couple of hours. By that time, the card had been used at three different local gas stations. My bank took care of everything within two days after I notified them. I've been told that if you have a debit/credit card, it's better to use the credit and sign for the charge rather than use the debit and pin number method. I regularly check my online account to make sure there has not been any fraudulent or unauthorized use.
I looked over all of the budgeting websites listed. I signed up for Mint, but did not enter any of my account info. Still not feeling to secure about that. I want to look into their security a little closer before trusting them with all of my account info.
I've started using coupons again when I can. Someone at our branch came up with the idea of a coupon donation box in the staff breakroom. Everyone can feel free to contribute or take any coupons they need. I think everyone is enjoying it. I have! We've recently joined Costco. I think in order for it to be a savings place for us, we will need to do some significant research on the items we purchase to make sure they are cheaper than our regular grocery stores. We're driving older cars in our family and are just hoping that they continue to get us where we need to be. If we had to purchase a new car, we would like to consider the Prius. It's expensive but the gas savings might offset some of the car note.
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