People ask me why I have 6 sinking funds (lifestyle, vacation, birthday, development, car, medical) plus an emergency fund and rainy day fund. I tell them that this way I save for what I want and will need (car repairs, medical expenses, and personal/professional development) I have the money available and just use the credit card and pay it off in full. The emergency fund is for major things like job loss, and the rainy day fund is for if my car or medical funds don't have enough to cover the costs I incurred.
Agree completely with both of these! The only way the furniture store financing works is if you sit down and calculate the payment based on 2 months short of the terms. We've used it in the past and always made a point of paying it off WAY before the maturity date. NEVER pay the minimum on anything.
Never buy furniture on a furniture store credit card. Like you said, they don't charge you enough monthly to pay it off during the period. When I saw that, I immediately paid off the balance and canceled the card. I endeavor to save and pay cash for everything, especially since I'm a senior.
I am fully retiring in 2027 and am planning a vacation. I have started saving and in the next year I will put a deposit on the trip. It will be paid completely before I pack my bags!!! I agree I would not be able to relax if I knew the bill was coming due when I returned from the trip!!!
I implemented a strict budgeting strategy to track expenses and set clear limits, while also focusing on a smart investment approach. In just six months, my investments grew by over $50,000, boosting my savings and financial confidence. This combined strategy has set me on track to achieve my long-term financial goals.
Thanks! The strategy was all thanks to Lorrie Greta Hillard, a brilliant financial advisor. She helped me create a personalized budgeting plan, track my expenses, and prioritize savings effectively. Her expertise made all the difference in reaching my financial goals!
Some people don’t know what an Annual Percentage Rate or Interest Rate on a credit card is. If they did they would pay off their credit card debts quickly as possible. Some don’t see credit cards as money they OWE to a company. The longer you owe it the more it costs you to pay it back. As for vacations your advice is sound. I’m picking places next year to visit that I can drive to or use Amtrak. 😊
Deferred payments don’t mean no payments i always pay more then the minimum but those who don’t know how to manage money this might not work for them I furnished my whole house like this but only buy one piece at a time I think people get in to trouble because they want to finance everything at once
3:31 Pretty soon you'll be able to scan a contract with your phone, and AI will be able to explain it to you in plain English. They won't be able to pull those shady tactics anymore.
People ask me why I have 6 sinking funds (lifestyle, vacation, birthday, development, car, medical) plus an emergency fund and rainy day fund. I tell them that this way I save for what I want and will need (car repairs, medical expenses, and personal/professional development) I have the money available and just use the credit card and pay it off in full. The emergency fund is for major things like job loss, and the rainy day fund is for if my car or medical funds don't have enough to cover the costs I incurred.
You have all that because you're smart and sensible. Ask them how come they don't. ❤❤❤
Agree completely with both of these! The only way the furniture store financing works is if you sit down and calculate the payment based on 2 months short of the terms. We've used it in the past and always made a point of paying it off WAY before the maturity date. NEVER pay the minimum on anything.
Never buy furniture on a furniture store credit card. Like you said, they don't charge you enough monthly to pay it off during the period. When I saw that, I immediately paid off the balance and canceled the card. I endeavor to save and pay cash for everything, especially since I'm a senior.
I am fully retiring in 2027 and am planning a vacation. I have started saving and in the next year I will put a deposit on the trip. It will be paid completely before I pack my bags!!! I agree I would not be able to relax if I knew the bill was coming due when I returned from the trip!!!
Thanks for the frugal tips always
I implemented a strict budgeting strategy to track expenses and set clear limits, while also focusing on a smart investment approach. In just six months, my investments grew by over $50,000, boosting my savings and financial confidence. This combined strategy has set me on track to achieve my long-term financial goals.
that’s incredible! What’s the secret behind this strategy? How did you manage to save up so much so quickly?
Thanks! The strategy was all thanks to Lorrie Greta Hillard, a brilliant financial advisor. She helped me create a personalized budgeting plan, track my expenses, and prioritize savings effectively. Her expertise made all the difference in reaching my financial goals!
Thanks for the tips! I was curious, so I did a little research and looked up the name.
That's my goal!
Very beneficial, thank you very much
Such a great video! Thank you for posting this!
great as always.
Excellent coverage of things many people don't think about. Good job!!!
Thank you!
I totally agree with the vacations. My cruise and flight in March 2025 have been paid off since September,that's including spending money too.
Excellent!!
Good advice for sure!
Thanks for watching!
Some people don’t know what an Annual Percentage Rate or Interest Rate on a credit card is. If they did they would pay off their credit card debts quickly as possible. Some don’t see credit cards as money they OWE to a company. The longer you owe it the more it costs you to pay it back. As for vacations your advice is sound. I’m picking places next year to visit that I can drive to or use Amtrak. 😊
I agree with you.💸💰
I was always taught the big print giveth and the small print taketh away.
That's a good one!
Thank You
You're welcome
❤. Great as always
Thank you so much 😀
2025 is my year of not running up a balance on my credit card.
Deferred payments don’t mean no payments i always pay more then the minimum but those who don’t know how to manage money this might not work for them I furnished my whole house like this but only buy one piece at a time I think people get in to trouble because they want to finance everything at once
Wow that's wild ❤❤❤😮😮😮😊😊😊
Yes monkey wrenches are a thing. I have a vaca fund so I am always prepared for fun. Yes, agree to save for furniture too.
3:31 Pretty soon you'll be able to scan a contract with your phone, and AI will be able to explain it to you in plain English. They won't be able to pull those shady tactics anymore.
💸💸💸