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Frugal Hints and Tips
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The Simple $10 Debt Elimination Solution
by: James H. Dimmitt
Ask a friend what resolutions they made for 2004 and your bound to hear them reply “Pay off my credit cards.” Ask them how they planned on reaching that goal and many of them will not have a clear cut answer.
The obvious first step to paying off credit card debt or paying down credit debt load is to cut back or eliminate the use of your credit cards. For some people this first step can often be the most difficult. If you’re used to spending freely with plastic and worrying about the consequences later, it’s difficult to break free from this “buy now, pay later” attitude.
To gain control of their careless credit card spending habits, some people cut up their credit cards therefore making it impossible to use them. Others lock up their credit cards or hide them in a safe place and vow to use them only in an emergency.
The second step to paying down credit debt is to pay more than the minimum balance due. Most credit card companies require a minimum monthly payment of 2.5% of the outstanding balance. For example, if you have an outstanding balance of $1100.00 on a credit card charging an Annual Percentage Rate (APR) of 18.9% your minimum monthly payment would be $27.50. It will take you 66 months or 5.5 years to pay off your balance of $1100.00 making the minimum payments. The credit card company will make $676.94 in interest from your use of their credit card.
Monthly payments are purposely kept low by the credit card companies so that they can earn as much as possible from the interest rate charged to you the consumer. Paying just the minimum payment will keep you tangled in credit’s web for years and years to come.
If you’ve been paying only the minimum due month after month, ask yourself this question, “Do I have an extra $10.00 I could apply to this month’s payment?” I’m sure that most of us could find some way to come up with an extra $10.00 for the month. Try cutting out a few cups of coffee or lunches at your nearby fast food outlets and in no time flat you’ll have saved up the extra money that you need.
Now, it’s time to unveil “The Simple $10.00 Debt Elimination Solution.” Take that extra $10.00 and add it to the minimum monthly payment above, therefore making a payment of $37.50. By adding just that $10.00 a month to your minimum payment, you’ll trim 23 months or nearly two years off of that credit debt! On top of that you’ll save $277.00 in interest alone! That’s money you can put toward savings or paying off other debts. Imagine how much you’d be able to save if you applied this same simple strategy to each of your other credit card debts!
Paying down credit debt doesn’t always mean having to make huge monthly payments or sacrifices. It just takes some basic planning and a simple effective strategy to make it work.
© 2004, www.yourfreecreditreportnow.com
About The Author
James H. Dimmitt. James is editor of "TO YOUR CREDIT", a weekly free newsletter to help you manage your personal finances. Subscribe to the newsletter by visiting http://www.yourfreecreditreportnow.com. He is also author of “Identity Theft - How to Avoid Becoming the Next Victim!” available at http://tinyurl.com/bc45
jimdim815@aol.com
BABY WIPES RECIPE #1
Step One
Strong paper towels work the best.
Cut one roll of paper towels in half.
Take out the core so wipes pull out of the center.
Step Two
Make solution.
2 cups water
1/2 cup of baby oil
1/2 cup baby magic baby bath
Step Three
Place 1/2 roll of paper towels in container.
Pour solution over towels.
Store in container. Makes 2 1/2 rolls.
BABY WIPES RECIPE #2
Step One
Strong paper towels work the best.
Cut one roll of paper towels in half.
Take out the core so wipes pull out of the center.
Step Two
Make solution.
1 Cup Boiling Water
1 Tablespoon Baby Lotion
1 Tablespoon Baby soap
1 Tablespoon Baby Oil
Step Three
Place 1/2 roll of paper towels in container.
Pour solution over towels.
Store in container. Makes 1/2 roll.
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Sandy is a freelance writer and webmaster of TheFrugalShopper.com. She enjoys living the frugal life, saving money, and helping others to do the same. Subscribe to her newsletter to receive more money-saving ideas and frugal tips. Reprint permission granted with this footer included. Copyright © TheFrugalShopper.com 2001.
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Homemade Laundry Detergent
by Sandy Shields
http://www.thefrugalshopper.com
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Save hundreds of dollars per year using these recipes!
Included are 3 liquid recipes, a powdered recipe, tips, and instructions about where to find ingredients.
Liquid Laundry Detergents
Recipe #1
3 Pints Water
1/3 Bar Fels Naptha Soap, Grated
1/2 Cup Washing Soda
1/2 Cup Borax
2 Gallon Bucket
1 Quart Hot Water
Cold Water
Mix Fels Naptha soap in a saucepan with 3 pints of water, and heat on low until dissolved. Stir in Washing Soda and Borax. Stir until thickened, and remove from heat. Add 1 Quart Hot Water to 2 Gallon Bucket. Add soap mixture, and mix well. Fill bucket with cold water, and mix well. Set aside for 24 hours, or until mixture thickens. Use 1/2 cup of mixture per load.
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Recipe #2
1 Cup Grated Fels Naptha Soap
1/2 Cup Washing Soda
1/2 Cup Borax
2 Tablespoons Glycerin
2 Gallons Water (NOTE: This recipe originally called for 2 Cups Water)
Mix all three ingredients together. Add glycerin and water.
Use 1/2 - 3/4 cup per load. Best when used with cold or warm water.
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Recipe #3
Water
1 Bar Fels Naptha Soap, Grated
5 Gallon Bucket
1 Cup Washing Soda
4 1/2 Gallons Water
Place grated soap in a small saucepan and cover with water. Heat on low until dissolved. Fill bucket with hot water, and add soap. Stir to combine. Add 1 cup washing soda and mix well. As it cools it will thicken. May be used immediately. Use 1-2 cups per load.
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Powdered Laundry Detergent
1 Cup Grated Fels Naptha Soap
1/2 Cup Washing Soda
1/2 Cup Borax
For light load, use 1 tablespoon. For heavy or heavily soiled load, use 2 cups.
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TIPS
• Liquid detergent can also be used as a pretreater for stains.
• Ivory Soap, Deodorant Soap, and Beauty Bars can be substituted for the Fels Naptha Soap.
• Essential Oils can be added to soap for fragrance.
• More Tips Here
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WHERE TO FIND INGREDIENTS
Fels-Naptha® Laundry Soap Bar: Made by the Dial Soap Company, so any store that carries Dial should be able to get it for you. If they carry it, it will be found in the bar soap or laundry soap aisle at your regular supermarket. It is usually on the bottom shelf. If you can't find it in your area, try Ivory Soap instead.
Super Washing Soda: Washing Soda can be found on the laundry detergent aisle of your supermarket. It comes in a 55-ounce yellow box. Baking soda SHOULD NOT be used in place of washing soda. They are completely different products, although they are both made by Arm & Hammer.
Borax: One brand name is 20 Mule Team® Borax. It is also found on the laundry detergent aisle.
For more information about these products, and where to find them, click here.
Try these recipes today - have fun and save money!
If you have any questions about these recipes, visit The Frugal Shopper.com or write to Sandy at info@thefrugalshopper.com.
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Sandy Shields is a freelance writer and webmaster of TheFrugalShopper.com. She enjoys living the frugal life, saving money, and helping others to do the same. Subscribe to her newsletter to receive more money-saving ideas and frugal tips. Reprint permission granted with this footer included. Copyright © TheFrugalShopper.com 2001.
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