A Financial Challenge for You

Posted on October 21, 2007 @ 4:58 am

Well, I want to challenge you all with a task.  Sure, you read the blog but how many ever ask you for a call to action?  Well, here it is – a call to action.  Now you might ask me what this is about, why you would want to, and what benefit will you receive for accepting the challenge.


Basically the challenge here will save you some money.  It may be a little, it might be a lot, but it will depend on you and your situation.  It also won’t take a lot of time and you can do it when you have a free minute.


Alright.  I challenge you to three things.  The first is I challenge you to make your money work harder for you. 


Well, that is easy.  It would be as simple as looking online for the best savings accounts – you are looking for one with high interest and little or no fees (yes there are ones out there that have no fees – I have one of them).  This way, when you do have money sitting around, it will earn you the most interest possible.  Sure, it won’t make you rich, but it will help your money hold its’ ground against inflation.

The second challenge would be that I challenge you to compare credit cards to the ones you have.  Now, the idea here is to save yourself some money on interest or fees, as well as get the best bang for your buck.  Some suggestions for those of you who carry a balance on your credit card month after month would be to get a 0% interest or low interest card.  For those of you who don’t carry a balance a cash back or rewards based card would be a good choice for you.  Just find something that fits your spending and repayment habits.

Lastly, I urge you to compare car insurance.  I know that you probably have heard enough about this one if you watch television, but it is important.  With the heavy competition in this industry, you can usually pay less than what you paid last year – every year.  Quite a few of the major companies also allow you to view their quotes and the quotes from their competition in one convenient place.

Are you up to this challenge?  Like I said, for the little time you spend doing it, you will see more money stay in your pocket – you just have to decide if it is worth your time.

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