Monday, February 14, 2011

In 2010, I asked, You Answered

Last Year I asked how to get my money right and you all had some great advice. Let's take a look at what worked (these are paraphrased).
  • South Loop Social Light and Product Junkie Diva said: "Close your credit cards, so you'll stop using them." I didn't close them, but I did stop using them, which is so awesome!
  • K to the said: "Get direct deposit into your savings" - This worked well and I'm going to increase the amount in 2011.
  • Scott said: "Set aside a daily income (spending cash, if you will), so you don't have to dip into your savings for that money" - I did this a bit. I am going to really do it more in 2011. Cash only!
  • B said: "Consider giving yourself a cash allowance" - While I don't necessarily put cash into an envelope for the week, I have been on a cash-only diet and it's working well.
  • Well Heeled said: "look into direct deposit for student loans because it may lower interest payments up to .25%." - I switched my Federal Loans to Direct Deposit because the benefit is automatic.
Sallie Mae (Private loans): My interest will decrease by .35% after 24 direct deposit payments (so two years from now). Should I do it for lower rates in 2013?

What do you all think? Direct deposit for Sallie Mae or no?


K to the... said...

Glad that worked out for you, T! It's amazing how that money builds up without paying attention. I"m goign to increase my amount too.

I say go for the lower interest rates!

K to the... said...

*I'm going

Lady J said...

Here's a site where you can find some good financial and real life advice:

Carly said...

Re: Salli Mae-Direct Deposit! You have to pay anyway. :)