There are many ways to waste money every day, but using some common sense to manage finances can go a long way towards securing your financial future.  Taking a small amount of time to think about what you are doing and plan the best course of action will prevent you from making simple money mistakes that will cost you dearly over time.  Here are some common sense tips to follow in your everyday life.

Don’t Be Lazy

Laziness will cost you much more than you think over the course of a year because you are paying for the convenience of immediate gratification or the convenience of having someone else do your tasks for you.  Taking your clothes to a cleaning company will cost you 5 to 10 times more than doing your own laundry at home or at the Laundromat.  Eating out raises the cost of a meal to triple or quadruple what you would have paid to buy the ingredients and cook the same meal at home.  Take the time to do tasks for yourself and keep the money you would have paid to others in your bank account for your own needs.

Think Before You Act

Simple mistakes like parking in the wrong spot or not putting enough money in the parking meter can be very expensive when you receive a ticket for the action.  All fines received for mindless actions should be classified as wasted money and avoided as much as possible.  These unnecessary expenses can be easily evaded by being careful and taking the time to think about your actions before performing them.

Take Advantage Of Discounts

Using the discounts found on many everyday items can save you thousands of dollars every year.  From using buy one, get one free coupons on everything from shoes to groceries to purchasing new clothing from the clearance racks, there are hundreds of different ways to use discounts to save money.  People that take the time to review the discounts found in their areas may be able to buy everything they need for at least 25% less than the person who does not take advantage of discounted items.

Bank of America started it all with their ridiculous $5/month fee to access your own cash by using a debit card and customers reacted by moving to credit unions or online banks like PerkStreet or Ally Bank. Verizon followed up with a fee for paying your cell phone bill online and customers cried “FOUL” so loudly that the company quickly backed down. It seems that companies, like governments, are obsessed with finding new ways to extract additional cash from customers and citizens.

There’s nothing wrong with getting your customers to give you more money … so long as you provide them with more value. Where these two giants erred was that the customer got nothing in return. Customers will gladly fork over more cash when the product or service warrants it. But whe

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The U.S. store credit card market has changed dramatically, especially over the past few years.

A large number of retailers got out of the credit card issuing business by selling their store credit card portfolios and outsourcing their card operations to private label credit card issuers. This resulted in a major shift in the ownership of U.S. store credit card receivables. As of year-end 2004, U.S. private label credit card issuers share of the store credit card market receivables was 85% versus the 45% share in 1999.

The trend did not end in 2004. Most recently Federated and Bon-Ton stores announced that they have agreed to sell their store credit card portfolios. By the end of 2006, when the conversion of these portfolios are completed, private label credit card issuers will increase their market share to more than 92% (based on 2004 figures.

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Most of us can’t tackle all of our spending and saving needs at once.  We’re taught to maximize our retirement savings, create an emergency fund, pay off debts, and buy the right insurance while paying our bills, raising our kids, and trying to have a little bit of fun for ourselves.  Here’s what you need to know now to properly prioritize your spending and manage your money.

Pay Your Bills

If you can get a handle on your basic living expenses, your ability to manage all your other financial priorities will be greatly enhanced.  Try to limit your necessary expenses, which includes shelter, utilities, transportation, food, insurance, child care, and minimum loan payments, to less than 50% of your after-tax income.  If your necessary expenses are higher than this, you may want to consider trimming your costs by trimming your food bills, lowering your home’s thermostat, finding a cheaper place to live, or getting rid of an expensive car.

Create An Emergency Fund

Having an emergency fund allows you to pay for minor emergencies without adding to your credit card debt.  Set up automatic transfers from your checking account into a savings account and deposit any tax refunds or other windfall payments into the savings account until you have saved at least three months worth of expenses.  There’s a large psychological advantage to having an emergency fund as people that have them are much less worried that a small financial emergency would cause a financial hardship.

Pay Off Credit Card Debt

Credit card debt is one of the most dangerous types of debt because lenders can change rates and terms at any time, the interest rate is usually in the double digits, and high credit limits encourage you to rack up more debt than you can comfortably repay.  To eliminate this debt, target the debt with the highest interest rate first, paying as much as possible while paying the minimums on any other debts you may have.  Another method would be to tackle your smallest debt first to give yourself the psychological boost of completely paying off a credit card bill.

Speaking from my experience, borrowing at the Bank of Mom and Dad isn’t always a pleasant thing. Approximately 15 years ago I was promoted to a management position on the East Coast. My company’s moving policy was – “move yourself, submit your expenses, we will reimburse you, maybe.” That weeded out a lot of tire-kickers but probably weeded out a lot of really good managers as well. Despite the shortsightedness of such an asinine policy for a multi-billion dollar company to arbitrarily use, I decided that a lack of money wasn’t going to stand in my way of success.

So I asked my Dad for $1,200. I was in the throes of financial stupidity and had no emergency fund, no budget, no savings account, no spare cash of any sort. My credit cards were maxed out and delinquent. I was behind on my student loans, behind on hospital bills, and behind on anything that required a payment … except rent and utilities. That $1,200 wa

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CoreCard Software, a leading provider of prepaid and credit card processing licensed software, today announced that their software plays a key role in helping PayDay Loans Providers comply with each individual state regulations.

For many households in todays economy, with little or no savings to fall back on, an economic shock such as an unexpected home or car repair can produce a sudden short term need for extra cash. A payday loan (also called a paycheck advance or payday advance) is a small, short-term loan that is intended to cover a borrowers expenses until the next payday. Payday lenders typically charge $ 15 for every $ 100 borrowed. According to the Community Financial Services Association of America (CFSA), the payday loan industry trade association, all that a customer needs is proof of income and a checking account.

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