Wednesday, September 2, 2020

Maximise the Interest from your Cash


I have noticed groups of workers here and there not to using these excellent tips - so definitely take them on board if you haven't done these already - it pays to be efficient!:

  1. Have your employer pay directly into an Online Saver - not your ATM account - this also helps your employer as you are NOT burdening them with your cash flow issues! 
  2. Use a Credit Card with no interest charges to pay for all your purchases 
  3. Keep a secondary Credit Card or debit Card as a backup if for some reason your main Credit Card becomes incapacitated
  4. With reference to notes and coins:
    • Try not to carry coins (at all) - if you have any take them to the automatic currency counting machines and throw them in your bank account
    • Try to keep the cash in your wallet to a minimum
    • Likewise keep the cash in your ATM account to a minimum as well as it does not accumulate interest
  5. For some of the larger household items that are fairly liquid - if you are not immediately using them try and sell them Online when you get the chance - the Internet has made it easier not just to sell but to buy these sorts of items fairly conveniently
    • This argument also applies to larger second hand electronics items that you are not using 
  6. ... 
NB: These tips all work well combined with Smart Phones equipped with Apple Pay, payment solutions etc ...

---

Stay tuned for a future post of getting your Salary paid directly into a 'Mortgage Buster' account if you hold a mortgage!

No comments:

Post a Comment

DIY ~ More Cookware cleaning at home (with lids)

Adding on to this future tip: https://optimise-performance.blogspot.com/2019/07/diy-cookware-bakeware-cleaning.html If you use lids for the ...