Every good slasher movie spawns a sequel!
My article from last week I Know What You Did (with your money) Last Summer has done it this week in time for Halloween!
Last week we revealed a few things we cover up that we do with our money every summer. Like a said, here is the sequel...
I still know you ate out too frequently. This is a black hole for me. I love food! I love variety of food. So I eat out because of that. Other times it's because I'm in a hurry or just plain lazy. The problem is that it is pretty expensive when you get in this habit. One thing you can do to keep this money stalker at bay is designate specific nights you'll eat out or even a number of nights. That way you can use them as you like, but you have to stop once you hit the number.
I still know you didn't automate your finances. I've talked about this before. Put your bills and savings on auto pilot. That way when you escape for your summer vacation, not one bill is overdue. Most banks allow you do auto pay regular bills or have them deducted from your account. You can also set up automated savings in the same way. It's what I do.
I still know you didn't refinance your higher interest debt. With the feds looking to raise rates as early as this fall, you better get on moving higher interest debt. You can pay off credit cards with 0% offers or with home equity lines at lower rates. Make sure these rates don't go sky high after the intro period. You'll want to move it again or pay it off completely. It' won't get any cheaper than now.
I still know you didn't ignore investment chatter. This is one of the biggest financial slashers ever! While you were sitting around at picnics, barbecues, vacation and golf with the buddies ignore unsolicited investment advice that whispers in your ear. Like the menacing music in this movie it builds to a crescendo of terror. Everyone means well when they give out their two cents worth, however, what works for them may not work for you. Run in the other direction!
Don't let money mistakes return like the killer in these movies over and over. A little common sense and discipline go a long way. If you'd like to subscribe, I promise you'll not be stalked. I'll just send an email with my weekly articles.
Happy Halloween!