How to Pay Zero Interest on Your Credit Card Balance Until 2014

If you’re heading into Fall with a fat balance on your credit card, you’re not alone. Millions of Americans have incurred excessive debt over the past few years, and this trend spikes early in the year.

And, when it comes to credit card debt, there is some good news and some bad news.

First, the bad news. Starting in Feb of 2011, new rules and regulations went into effect that more tightly regulate what credit card companies can do.  They're not able to retroactively increase rates, must have 45 days advance notice of rate hikes, and are limited in what they charge for overdraft fees.  So, how can this be bad news for consumers?

Well, the bad news is that in order to compensate for lost revenue from these new rules, credit card companies have been jacking up interest rates for everyone.  You may already have received notice that your borrowing costs have gone up.

So, what’s the good news?  Well, the good news is that there still remains something people can do to immediately cut the interest rate on the amount they owe on their credit card to zero. It’s called a zero interest balance transfer.

By transferring the balance of your debt from your current credit card to a new interest-free card, you can give yourself time (often up to 21 months) during which no interest is charged against your starting balance. This allows all the money you make in payments each month to be applied directly into paying down your balance, shrinking the amount you owe much faster. This can greatly benefit your credit score and credit-to-debt ratio, both of which can make you much more attractive to lenders.

There are some things to consider before transferring your balance to a new card:

• Always take into account the length of the zero percent APR period.
• Be sure you are able to pay off your balance within this introductory period. Otherwise, high interest rates often kick in when the period ends.
• Make a payment schedule and set aside money each month to pay towards your balance.
• Ask up front about transfer fees. These can come as unexpected surprises and throw off the payment plan you have created.

So, how do you go about finding the very best credit card with a zero percent APR on balance transfers? 

More good news!  There is a great, free online service called CreditCards.com that can help you find offers from credit card companies eager to get your balance transfer business. All of the credit card offers are presented clearly so they’re easy to compare, and you can find the offer that works best for you.

The site is also a tremendous informational resource for consumers wanting to make informed decisions about their spending. 

For many people, a zero balance transfer is a complete no brainer, and can result in significant savings in the short term. After all, why would you pay a penny more in interest than you have to?  And, by eliminating your debt, you improve your credit score, and earn lower interest rates on your credit cards. 

And, using a service like CreditCards.com is one of the best ways to find a balance transfer credit card that will help you get rid of your credit card balance fast.

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Passive Income Secrets

Different people have different ways of earning. It is just a matter of identifying how you want to earn and enjoy yourself while you are earning.

As it is said, passive income is a kind of income that you continuously earn without your active participation in a particular business.

For you to be able to enjoy the benefits of your passive or residual income and successfully earn passive income, try considering the following passive income secrets:

• Recognize your Interests

One of the best ways to passive income secrets is being able to recognize your interests. This can help you in coming up with ways on how to earn passive income.

This way, you are able to enjoy earning because of what you are interested in and be able to share these interests with your consumers.

• Research

Another passive income secret that is most definitely necessary is research. Research and brainstorm on the things that you need for you to earn without having to be actively involved, because then, it would not be called passive income if you were to be active in your business.

Think of something that you would work on in a short span of time and that would expand and develop through other people.

That way, you will earn without being actively involved. It would also be helpful if you research on how other people earned passive income successfully. With this, you can also consider their ways of earning.

• Narrow down your Options and Ideas

Narrow down your top five options and ideas in earning passive income. Keep a list on what you have tried, what worked and what did not.

After which, you can re-evaluate your options and ideas. Focus on the reasons why these options and ideas worked or why they did not work.

• Generate your Own System

Generating your own system in earning passive or residual income will most likely succeed. You can think of ways how to go about your system and how you intend to maintain the system.

The results of your system will determine how good and effective it is. If it is not as effective, then you can make use of others' systems and learn more from them in the long process.

Generating your own system requires time and flexibility. So, be as open-minded as possible for your system to improve and develop.

These are just some of the many passive income secrets that you should know, since these secrets involve being able to engage yourself in the things that interest you and being able to share these interests with others.

Your income will flow continuously once you get the hang of knowing how to satisfy your consumers.

With this, you are able to fulfil the wants of your consumers and at the same time, be satisfied with what you have to offer to them.

The best thing about being able to earn is not just about receiving the money for the sake of having money, but enjoying the benefits and loving what you do as well.

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Four Credit Card Mistakes that Can Cost You Money

There are four major mistakes most people do with lines of credit that keep them from increasing their wealth. It is these four mistakes the smart wealthy do not make, which make them wealthier.  Start by checking the fine print of your offers, checking your purchases, paying down your debts, and breaking these five bad habits.

It's In the Fine Print

Credit card companies use flashy advertisements to grab your attention. In reality, the fine print notes that those rates are introductory, often ending in as little as a month or your next bill. Cash-back is also not as good as it seems, many companies use it as a marketing ploy, but the fine print usually dictates how it can be spent, and that's usually only with them and their partners. Credit card companies are not out there with your best interest at heart, they are there to make money, and lots of it. Read the fine print with scrutiny and ask:

· When do the introductory rates end?

· What are the normal rates?

· What causes rates to go up again and how much?

· Do the rates fluctuate?

· Do rates increase for late payments?

· Do rate changes depend on your credit score?

· Can they charge compound interest on late payments?

· Can they charge extra fees?

· Can they charge you for paying off your bill?

Additionally, we need to know if they charge for using the card, where they charge, and if the card is accepted only at certain stores or venues. Also, many companies charge if you do not keep a minimum debt on the card, which is a bust for those who pay off their bill each month.

Using Credit as Investment Funds

Many of us begin our credit card debt by purchasing consumables. This is the absolute worst way to waste the loan the credit card companies give us with the little card. Consumables include small purchases such as food, drinks, movies, services, and other random things which immediately lose their monetary value upon purchase.

Those who look for ways to increase their wealth use credit cards as a form of investment. They also use it as an emergency fund and only use it to buy consumables if they know for certain they can pay those off on their next bill, before they get charged interest. For the wealthy, the investment option means they use the money to generate money, thereby offsetting the interest charges.

How does that work? It's simple, by using the line of credit to purchase things that appreciate in value, or increase in value over time more than the interest rate costs them. They create an income source that also is tax free until they sell that item. Usually this amounts to antiques, rare cars, properties, and business investments.

Credit cards are not free money. This is a loan from a business to you. If you do plan to use it for everyday expenses, be forewarned. Only do this if you have the cash in your bank account to pay off the purchases before the next bill in order to earn points or other rewards. And check the fine print, so see if non-carried over debt actually counts for that.

Paying Down the Debt

If you simply pay down the minimum monthly balance and let interest accrue on the remainder, you set yourself up for increasing debt. The minimum payment is only for covering the interest, thus creating an income for the credit card company.  The larger your charges are on your account, the more interest they earn from you each month.  How do we end this cycle?

1. Start by stopping credit card use. If you don't have cash for food and beverages when out, learn to make time for them at home. Which also means you will be saving money by doing so.

2. Pay down the minimum monthly payment, plus as much as you can on the bill. Can you cut some expenses over the next few months and reduce your credit card debt by half or more? Create a financial plan that enables you to do so.

3. Read the fine print on all of your current cards and calculate how much interest you are paying and how much of that interest makes up the monthly payment. Then decide if you can consolidate them into a lower-interest card, take out a lower interest loan to pay them off, or pay off smaller cards with one card to eliminate multiple  debt avenues.

4. Pay off cards with the highest interest rates first and those with the highest balance second. Work to eliminate as many credit cards as possible from your debt and wallet. Eliminate any cards which have hidden fees, monthly charges, or fluctuating interest rates. The remaining cards should be used for a) emergencies only [like breaking down and needing a tow truck, or emergency medical care], and b) investment purchases.

Five Mistakes Never to Make with Credit Cards

These five mistakes are what separate the middle class and wealthy from the broke and barely surviving financially. Making them, especially repeatedly, will end us up in a mess of financial trouble that results in the inability to get an apartment, buy a house, lease or buy a car, get insurance, and sometimes, even be denied certain jobs.

1. Using Cards with fluctuating interest rates

2. Using cards with monthly charges

3. Using cards to buy consumables

4. Paying the monthly minimum balance, late payments, or skipping payments

5. Allowing non-investment debt to increase monthly

By being smart with our borrowed money we can improve our chances of financial success, our credit score, and our purchasing power. Thinking like a rich person when it comes to credit card debts and other loans may not make us rich or famous, but it will increase our personal financial wealth. The feeling of empowerment that comes from being debt free is amazing, it boost our self-confidence and our bank accounts. By being smart with how we use borrowed money, we will work to earn, not work to earn money for our debtors.

To find the best credit cards for you visit uSwitch.com today.

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How To Save Money

It's important to learn how to save money, otherwise you will never improve your situation. You may already have a high debt on your house and just want to start paying that off; the ideas in this article will help you do that as well.

This article is mainly for people that have no assets or savings and need to start at the beginning. It's important to have this basic skill. Without it, you won't learn how to manage money. So even if you got given a large sum of money then you wouldn't know how to handle it - if you don't have this skill.

So this is for the people that want to buy a house (or an asset) and have no savings to do so. This will teach you how to save. The easiest way is to save 10% (or more) of your income.

Your self-employed income won't be taxed until you do your tax return so you need have money put away for this as well.

So the best way to have the 10% saved, is to have your employer put 10% of your wage into another bank account, perhaps a bank that is not in your town or city and don't have a keycard or internet access to it. So the 10% just goes into their every week and you don't even know it.

Then you can spend the rest. This is a obviously slow process in order to get rich and if your income is $50,000, then it's just $5000pa going into it. But it's better than nothing.

So that's the BEST way of doing it. You know why? Because you don't see it so you can't spend it.

If you wait until your pay goes into your bank account and then transfer it yourself or have a direct debit set up, it's not the same.Then you need to work out how much you need to save if you have a goal, which you should have, since you read the chapter on goal setting.

If you have a goal to buy a $300,000 house in a years time then you will need the deposit and any closing costs.
Lets say you need $40,000, so break that down to weekly. Assuming your income is $50,000, 10% of that is $5,000, so you need to get an extra $35,000.Whilst it might sound silly, once you get a goal, and start looking at ways to find money, you will find that you have other ideas pop up and other means will come your way.

When this happens you need to notice them. There is a name for this but we will call it 'luck' and when things start falling into place, and then take up all the opportunities that come your way.

If your goal was a house in 1 years time - now you are on your way to buying your first house. If you have a house already then you are now paying it off quicker. Why do you want to pay it off your home loan quicker?

The reason you want to do this is that you can use the equity - that is the difference from what you owe and how much it is worth, to buy another house - to rent out - or future investments. Wealth isn't built by owing lots of money, you need to start paying it off. Then you start building the equity.

The reason that you want to buy another house is that in the long term it will give you asset growth and an income in the form of rent.

You need the asset growth and income to make yourself a millionaire.

OK now back to savings. Here's another idea or additional way.

Drop all your coins into a jar at the end of a day. Don't tough the jar.

When it's full, take it to the bank and collect the money.

Don't spend it on a night out; transfer it to the out of town bank account.

Another way is to actually save on your day to day expenses.

Stop buying a daily coffee.

Don't take the car to work, and catch the bus.

Shop at the largest shopping mall in the lowest socially-economic area closest to you.

Why? Because the supermarket there will be cheaper than the ones in middle-class areas.

Make your lunch at home and take it to work, this can save you $50 a week, and guess where the $50 a week is going? Out of town bank account.

Stop going out to movies and dinners.

Cut up your credit card/s if you have them, and never use them again.

If you need the credit cards numbers to buy things on the internet, then get a MasterCard or visa debit card.

Pay them off as soon as possible and never, ever use one again.

No one I have seen with multiple credit cards and balances carried forward every month are wealthy.

As for points? Who cares you won't be taking any plane trips until you are wealthy.

Watch your utility usage, take shorter showers, don't use heating or cooling devices unless you have to, turn lights off, watch less tv - it's rubbish anyway and you need to get a good nights sleep so you can go cleaning at 230am anyway. (See how having extra jobs/income sources is going to save you money in other areas?)

Don't have a mobile phone unless you need one for business. If you want to talk to people, tell them to come and visit you.

Don't have anything that is costing you money, that isn't going to help you make money.

Think is this going to help me make money, if not get rid of it, don't buy it or don't use it.

Sell it on eBay.

Food: don't buy junk food, you will lose weight and it's always higher price than fruit and veggies.

Fruit and veges is usually cheaper in the outer suburbs that are near fruit and veggie growing areas, so shop there.

Maybe it's cheaper to live out there as well, so maybe move there.

If you rent get the cheapest apartment or house, and get someone to share with you or rent out spare rooms.

If you have a mortgage, then you need to start paying it off, if it's too high and it's an okay time to sell, sell the house buy something cheaper that you can pay off.

Rent out any spare rooms or space that can be rented.

Pay off your home loan fortnightly if it's a variable loan.

You will save money.

If you are on a high income, look into loans where you income can go directly into it.

If you don't need your car - sell it.

If you can catch a bus or train to work and you decided that lawn mowing and cleaning businesses were not for you, then sell it.

You can buy one later when you are rich.

If you need to go somewhere that a train or bus can't hire a car.

I could go on further about finding ways to save money, but you get the idea, look at everything you do and cut out what is not required.

You don't need cable TV, I don't care who you are.

If you want to save money get rid of it.

I know people whose loans are in arrears, and yet when you look at their bank account statement, they have internet, mobile phones and cable.

Clearly watching repeats of sitcoms is more important than keeping your house to some people.

You might think but if I get rid of this or that or stop going to a movie every week with my girlfriends or go out drinking and spend $200 on Saturday night you will become friendless and everyone will mock you at work because you didn't watch the 9 hour 2 and half men marathon on cable.

Look at your friends, or the next door neighbours or the co-workers.

Are they rich?

They could have the latest car, and a big screen tv and go out in the latest clothes three times a week, but if you can figure out their salary and they don't get up at 230am to go cleaning, then they are basically one step away from broke.

If you want to be rich you have to do things different from anyone else, otherwise they'd all be rich.

If they don't have a couple of investment properties, and they have to check the balance of their bank account at the ATM before they buy their lunch, they aren't rich.

You need to find new friends that are like you.

Wealth-minded people who are rich or want to be.

Sometimes these people will let you in to an idea, or a property development or a way that they make money in which you can benefit.

Whilst you friends are just concerned if you are wearing the right clothes out to the club tonight.

Most people are one step away from broke and you don't want to be like that and that's why you are reading this book.

If you wanted to be one step away from broke then you wouldn't have bothered reading this.

So you need to save money and you need to look at ways to cut down your spending, even though it may have increased with the extra incomes, now is the time to 'seize the day' and 'make hay while the sun shines', to put all the extra money to good use.

Yes, if you do increase your income you can just spend it and impress your friends with the latest big screen TV and electronic devices and you didn't need to put it on a credit card either.

But this is not the point.

You are making money so that you can become wealthy and if you follow my simple advice, then you are more likely to become rich.

And saying to your old party-going, latest gadget buying, trendy friends that you are now a millionaire in 5 years time is going to sound pretty good.

Sure they laughed at you then, but when they are kicked out of their house for not paying rent of mortgage and you have 5 houses and can buy a big screen TV with cash, then you will be the one laughing.

So you need to start saving money, and then looking at all the ways you can save money.

No pain, no gain.

So you might be reading this and you don't waste your money now, you just don't have enough coming in.

The only way to improve your situation is to increase your income.

If you don't have the money to buy a mop or vacuum cleaner, or you don't have a car, then you will need to have a smaller goal.

I would suggest get second job, or find a higher paying first job, and then start saving so you can start up your business.

If you can't afford to save as you have too many debts, let's say you have personal loans and credit cards and are already behind in these payments then you really need to earn as much money and pay these off.

There is no point savings money if you have $80,000 in unsecured debt at 20% interest. You need to focus, and pay it off.

If you do have a car on finance, make a decision whether you need it so that it can earn you a second income, or is it better to sell it and reduce your debt.

And rip up your credit cards right now and never get one again.

Saving money is the most important thing that you will need to learn, whether it's buying cheap food or putting away 10% of your pay every week, if you have nothing saved up now, you need to learn how to do it.

Saving money is the most important lesson to learn, because you can earn all the money you want - if you don't save it, then you will never be wealthy.

David Lindsay Evans is a author, farmer, property investor, and loans officer. To visit his site please go to makingmoneyiseasywhenyouknowhow

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How to Grow Your Very Own Money Tree

Okay. So money doesn't really grow on trees. Unless you plant your own Mighty Money Tree, that is!

Imagine that only a few moments ago you planted a young sapling in your back yard. You gave it just enough water to ensure a good start. Not too much, not too little. You even propped it up with a stake. You'll continue to nurture it, feed it, water it.

And with each passing year, your tender young sapling will grow stronger. Taller. Healthy. As it ages, your tree can better defend itself from natural predators. Even harsh weather.

Growing your savings account is similar to growing your new tree. Given lots of tender care, your savings account will become your Mighty Money Tree. Use the following tips to ensure a great start. So, grab your shovel and let's get planting!

Prop Up Your New Savings Account

To build an account you can enjoy for a lifetime, prop it up with nutrients to help it grow.

a) Feed your account with bonuses. Deposit money saved through cancelled subscriptions. Don't forget those unexpected windfalls, either.

How about money owed and paid back to you? Be sure to include these amounts, even if they're small. Small is great -- and very do-able.

b) Nurture your savings weekly with money saved from using coupons.

Do you buy items on sale? Take that money you saved and use it to grow your account. Tuck small amounts into an envelope. Deposit weekly.

c) Shower your fund with birthday, anniversary or holiday gifts of money. Refunds, too! This is money you normally wouldn't have had (or already spent.)

Remember, out of sight, out of mind!

Fiercely Protect From Natural Enemies

Just as you might spray your tree to ward off insects or disease, you must protect your fledgling savings account. It's precious -- and a result of your patience.

a) Avoid spending too much time with others who make it seem 'natural' to go through money. They may not give it much thought because spending is a comfortable habit for them.

But you actually have a plan. And you have the big picture of how and when you'll spend. You will decide the where and why of spending your money. Make your spending thoughtful.

b) Pace yourself as you spend your weekly allotment of money. If you run on $35 per week (for example), that gives you five dollars per day.

Stay just under that five, and you'll always be a few dollars ahead. You'll also be less tempted to tap your savings.

c) Practice 'tough love' with chronic spenders who repeatedly borrow your money. Give yourself permission to state firmly that borrowing your money is 'not' an option. Remove the stakes that prop up others' spending.

Say yes to protecting and taking care of your money. It will be there to support you, your family, and your true needs.

Promote and Maintain Healthy Growth

Small amounts add up big time, so keep money coming into your account on a regular basis. Keep it growing!

a) Remember 'why' you set up your account. Know your balance at all times. Keep your eye on the bigger picture.

Will it help you pay for a gently used car, eliminating future car payments year after year? Is it your 'freedom from working for others' fund?

b) Begin with one great strategy, and use it to create a steady stream of money to feed your account. Will it be a direct deposit through payroll?

Will you fund it by using only dollar bills, and setting aside all change at the end of each day? If so, scoop up your change and deposit weekly.

c) Each month, find a new, creative way to put more money in your account. Then find another method and repeat for a month. Keep the top three or four methods which seem to work best for you. Toss the rest, because you want methods that work for you consistently.

Need a starting point? Why not begin with spending ten dollars less at the store each week? Tuck your ten bucks into your savings account. It's simple, and it won't leave you feeling deprived.

Lastly, feel the wonder of knowing that your money tree will continue to grow. Like a faithful friend, it will remain at your side. Your champion in good times, a comfort in the rough patches of life.

It has the power to draw your dream out of the darkness and into the light. How long have you had that private, special dream? Only you can know.

Now, what would 'you' do with your own Mighty Money Tree? Plant one today! Prop it up. Protect it. Watch it grow.

Author of Rat Race Blues for Women, Darlene Arechederra shares simple strategies for living well on less and enjoying a debt-free lifestyle. Visit her today at [http://www.RatRaceRemedies.com] or [http://www.AffordToStayHome.com]

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