Where financial advice is concerned, tips from the pros definitely help, but experience is key. What better place to find suggestions on managing your money and personal finance than an online forum? Forums have the benefit of a wide variety of contributors, from your average neighbor to budget guru, who offer advice, personal stories, and money saving tips. Often bustling with activity, forums are a great starting point to get input on whatever financial questions arise. Here are 10 of the top online forums to discuss saving money.

1. Saving Advice: Streamlined and simple, Saving Advice sticks to the basics but provides a wealth of information. General discussions, personal finance, debt, and tips on frugal living make this a great building block for getting money saving tips online.
2. Money Saving Expert: An open forum with a huge variety of topics, Money Saving Expert’s forums are geared towards a UK audience with money saving in mind. Topics like annuities, mortgages, and credit cards exist alongside more holistic topics like home, upping your income, and philanthropic endeavors.
3. Wise Bread: The aptly named Wise Bread dedicates itself to “living large on a small budget”. There’s a bloggers corner, tips on “lifehacks” (personal development), as well as personal finance and budgeting tips. For a broader spectrum of money saving tips, the Wise Bread blog offers a daily assortment of articles and advice sure to stir up conversation in the forums.
4. Get Rich Slowly: A staple of the blogosphere, Get Rich Slowly offers sensible, common sense advice to personal finance. The hugely active forum is a great place to connect with fellow novice financiers on budgeting, debt management, and offers a place to post your success stories when you’re fiscally fit.
5. PF Talk: PF Talk (Personal Finance Talk) is exactly what the name suggests – an active forum devoting to discussing the nuts and bolts of personal finance. Have a question on your mortgage, taxes, or how to manage your credit cards? Advice and solutions are all here, as well as money saving tips on financial management software and retirement planning.
6. Kiplinger Forums: A respected and solid name in the financial industry, Kiplinger’s online forums attract a variety of participants from the 20-something beginner to seasoned financial planning veterans. The topics are extensive, and solicit feedback on Kiplinger’s articles as well as more estate planning focused topics, like charitable gifting and saving for future generations.
7. Slick Deals: Technically a place to post tips on sales and coupons, the Slick Deals forums have evolved into a constantly updated source for money saving tips, discounts, and a one-stop-shop for stretching your dollar.
8. Early Retirement: For those focused on building a solid financial future and retiring early, Early Retirement’s forums have in-depth questions and answers. Geared towards a younger crowd seeking financial independence, the money saving tips here are valuable regardless of age.
9. MSN Money: The widely read financial blog on MSN money has spawned a forum, one which covers topics wide in scope but poignant on advice. Forum participants post common problems, possible solutions, and cover every topic imaginable.
10. Money Talk: Established in 2004 and still going strong, the dedicated community at Money Talk’s online forums provide money saving tips, topics driven by readers, and even has a section to recommend the best personal finance books.

This post was contributed by the team at Broadband Compare, an Australian website where you can find impartial buying advice on a range of fast broadband plans.

The following is a guest post from Elisa. Elisa is a writer who writes about travel and personal finance writer for FrequentFlyerCreditCards.com.au where you can get advice on airline loyalty programs, review and compare the best cards for frequent flyers.

If you have been shopping around for a new credit card, then you might have noticed that there are quite a lot of frequent flyer credit cards available. These are credit cards with which you can accumulate “miles” (or points) for every dollar you spend. Some cards will award a free airline mile for every point, and some cards will even award 2 or 3 points for every mile. So is a frequent flyer credit card something you should consider? Let’s take a look to see if you are the type of person who would benefit the most.

1. You Already Travel a Lot

If you already take a lot of plane flights every year – whether for business or pleasure – then you are probably already a member of at least one airline’s reward program. Perhaps you already enjoy earning points toward a free flight every time you buy a ticket. With a frequent flyer credit card, you’ll be able to earn the same points much more quickly. Further, frequent flyer credit cards often award twice as many points when you use them to buy a plane ticket. You’ll not only enjoy these extra points, but you’ll get the points from the ticket itself. You’ll be able to get more free plane tickets faster.

2. You Have a Favorite Airline

There are two general types of frequent flyer credit cards. The first type offers “flexible” miles. These can typically be redeemed for free tickets on any airline. However, the really powerful frequent flyer credit cards are the “airline specific” cards. These can only be redeemed for a ticket on a particular airline, but they typically accumulate points 2 or 3 times as fast. If you are the type of person who is loyal to a particular airline rather than someone who always shops around for the best price, then which type to get is an easy decision.

3. You Like to Travel in Style

Perhaps you don’t fly very regularly; but when you do, you like to do it in style. Your points can be redeemed for other things besides plane tickets. You can use them to upgrade your ticket to first class or to get a discount on a high class hotel.

4. You Spend a lot Every Month

If you spend a lot of money every month, then it makes little sense to always pay cash. With a frequent flyer credit card, every purchase you make builds toward something that you can redeem at a later date. However, it is important to always pay off your balance every month, or the interest rates can far outweigh the benefits you receive.

5. You Want to Take a Vacation One Day

Even if you never fly at all because airline tickets are too expensive, this is your chance to finally make it a possibility. You can slowly build points so that one day you’ll have enough miles to get free plane tickets for the entire family. You can redeem your points for not only free plane tickets; but also for free car rentals, free tour packages, and free motels. Your entire vacation can be paid by a frequent flyer credit card.

Frequent flyer credit cards aren’t for everyone, but they can provide many benefits depending on your situation. If you don’t yet have one of these cards, then you can start by comparing different programs today.

As always, your comments and suggestions are greatly appreciated below…

In the second part of a two-part series on credit cards, we go over some of the other more popular types of credit cards, along with their advantages and disadvatanges.

 This series is a guest post from a colleague of mine Fred.  Fred is a
personal finance writer for CreditCardFinder. He helps people compare  rewards credit cards and business credit cards online.

Before you can choose the credit card which is right for you, you need to choose the type of credit card you need. There are different credit cards available for different spending habits, purchase volumes and financial needs, so before you apply for a new credit card, find out what it means to choose  one with no annual fee, or a gold or platinum credit card.

No Annual Fee Credit Card

 There are credit cards without annual fees – then why don’t all credit cards offer a $0 annual fee!? We hear your question, but the answer is not as straightforward because while not paying an annual fee means one less charge on your card, you are often trading that advantage for a disadvantage. As with any financial product, you need to find the card with the right balance of features and fees so you can manage the charges with the benefits you get.

 Advantages of a no annual fee credit card:

• One less purchase to pay off. A credit card annual fee is charged to the card account just like any other purchase. Therefore it is added to your balance and you have to pay it off with your monthly payment. However, if there is no fee, that’s one less payment you have to worry about.
• Encourages you to operate your credit card for free. A no annual fee credit card will also usually have a long interest free period, making it perfect if you manage to repay your balance within those interest free days, because you don’t get charged and annual fee either and you can use your credit card for free all year round.

 Disadvantages of a no annual fee card:

• Can be subject to conditions which encourage you to spend. Some credit cards will offer a $0 annual fee if you make a certain amount of purchases in a year. This can easily encourage you to buy things you don’t need, just to meet a minimum purchase amount, getting you into credit card debt you can’t afford.
• Can be an introductory offer for the first year. This means you can become used to not paying an annual fee, and get used to the features of the card, only to find in the second year you have it that you can’t afford it.
• The condition could be fewer rewards. Annual fee conditions or introductory offers can determine whether or not a $0 annual fee card really is fee free. However, on a no annual fee credit card without such conditions, the only condition may be that there will be fewer rewards offered.

 Gold Credit Cards

 A gold credit card can lend a certain prestige to your wallet and if you enjoy the exclusive feeling of having a credit card not everyone is eligible for, then consider the advantages weighed against the disadvantages of a gold card before you sign up.

 Advantages of a gold credit card:

• Rewarding rewards programs. Just about every gold card will offer some sort of rewards program. Not only that, it is usually easy to earn rewards and you can redeem them not just for airline rewards points, but for gift vouchers and merchandise that you will actually want and use.
• Travel insurance. Most gold cards will also include travel insurance, which can cover you overseas and domestically when you travel, and often extends to your family travelling with you too.
• A long interest free period. One of the concessions you make in having a gold card is accepting a higher interest rate, however your gold card will also give you every chance to repay your balance before it accrues interest because a gold card interest free period is usually 55 days.

 Disadvantages of a gold card:

• A higher interest rate. In exchange for the extras, the insurance, the rewards and the service you get with a gold card, you’ll also usually have a higher standard interest rate applied to your balance.
• A higher annual fee. Similarly you may be hit with a higher annual fee on a gold card, in exchange for the rewards and benefits of the card, and the higher running costs the bank faces to offer you those features.

 Platinum Credit Card

 The platinum credit card is at the top of the credit card hierarchy with regards to the rewards and prestige they are selling you, to encourage you to sign up. However, a platinum card can also come with higher costs so it is important to consider whether those fees are reasonable for the rewards, whether you will get real value out of the rewards, or whether that particular platinum card is overpriced, and you can make comparisons to find a better deal on a platinum credit card.

 Advantages of a platinum credit card:

• Personalized and priority service. Many platinum credit card providers will give you a separate customer service number so you don’t have to call their regular call centre, pressing buttons and waiting on hold, you can instead be put directly through to someone who can help with your question. You may also receive access to what many banks call their concierge service where you can make one call and have your ‘virtual personal assistant’ book dinner, order flights or call you a taxi.
• Greater rewards. Where the rewards programs of a gold card are good, those of a platinum card are even better and you will often earn more rewards points per dollar you spend, and have access to more valuable rewards deals.

• More inclusive travel insurance and protection. Where the travel insurance offered on a gold card may be for three months, a platinum card will offer you six; where the extended warranty on an item may add 12 months when you use your gold card, you can be eligible for a 24 month extended warranty for purchases on your platinum card.

 Disadvantages of a platinum credit card:

• A greater annual fee. While in general the annual fee of a platinum card will be more than that of any other credit card, it doesn’t mean you can’t shop around for the lowest annual fee platinum credit card.
• A greater interest. Similarly the interest rate on a platinum card may be higher than a standard credit card, but at the same time, many providers work hard to offer you the same interest rate on their platinum cards, as on their gold card and standard card offers – the hope then is that with your increased credit limit, you build up a higher balance and are tempted to let it roll over, earning the bank more interest anyway.

 When comparing the types of credit cards available, understanding what all the options mean, can help you discard those cards which don’t suit your needs. You can also take advantage of great offers you didn’t even know existed, but which can help you control your finances and be rewarded at the same time.

The following is Part One of a two-part series on credit cards, written by my good friend Fred.   Fred is a personal finance writer for CredtCardFinder. He helps people compare balance transfer credit cards and no fee credit cards online.

Before you can choose the credit card which is right for you, you need to choose the type of credit card you need. There are different credit cards available for different spending habits, purchase volumes and financial needs, so before you apply for a new credit card, find out what it means to choose a balance transfer credit card, a low interest credit card, one with no annual fee, or a gold or platinum credit card.

 Balance Transfer Credit Card

 A balance transfer credit card allows you to transfer the balance from a high interest rate credit card, to a special offer of a low and sometimes 0% interest rate card. A balance transfer offer is usually only available if you are transferring a balance from a credit card from a different provider and unless you specifically choose a for life balance transfer, you will have to repay your balance within the transfer period, before it reverts to a higher rate.

 Advantages of a balance transfer credit card:

• Low or no interest. Where your standard credit card will be charging you an interest rate in the high teens, or even as much as 20.00% a balance transfer card will offer you a low single digit interest rate, and in some cases even a 0% interest rate. This gives you a better chance at repaying your credit card balance, because more of your payments can go towards your principal balance, rather than to interest charges.
• Time to repay your debt. A balance transfer offer can give you anywhere from six months, to the life of the balance to enjoy a low interest rate on your debt. Therefore, if you have a smaller debt, choose a shorter balance transfer period, if you need more time, look for a nine or 12 month offer, or even a for life offer.
• You can transfer your balance to a new offer. When you transfer your balance to a balance transfer card, you are not locked into a contract. This means that if you need more time to repay your balance but your offer is about to expire, look for a new balance transfer offer and make the switch.

 Disadvantages of a balance transfer credit card:

• You will be charged the cash advance rate at the end of the offer. Unless you have chosen a for life balance transfer, your low interest rate will expire. When it does, it will often revert to the card’s cash advance rate, which can mean your balance is earning around 20.00% interest again.
• If you spend on the card you’ll be charged interest. Any new purchases you make on your balance transfer card will not qualify for the low promotional rate, plus, they will not be repaid until your older balance transfer amount has been paid off. This means that your purchases will be earning a higher rate of interest, undoing all the hard work you’ve done to focus your repayments to reducing your balance while it is earning less interest.
• It’s easy to get used to a low interest rate. When you have the pressure of a high interest rate credit card released, it can be easy to become lazy in your commitment to clearing your debt. You may be tempted to make the same repayments you were making before without adding more to pay off your balance faster, and you won’t really learn any important lessons about managing your debt.

 Low Interest Rate Credit Cards

 Not all cards offer high interest rates in their 20s, some cards will offer an ongoing low interest rate and these are best suited to people who have trouble paying their balance down to zero each month, so that even if you do attract interest, it isn’t insurmountable.

Advantages of low rate credit cards:

• It’s easier to control your debt. If the spending on your credit card does get away from you and you realise you can’t pay off your purchases in one monthly payment from your wages, you don’t have to worry that your balance will remain out of control. The hardest things about reigning in a credit card balance are the amounts you have to pay on top of your original purchases, putting you even further behind. However, with a low rate chard, those extra interest charges aren’t a large percentage of your original purchases.
• Suited to credit card holders who rollover their balances. If you regularly rollover a credit card balance from one month to the next because you often need to wait for more funds to come in, or other bills are a priority, you don’t have to worry as much about being charged interest on your purchases.
• Often comes with a lower annual fee too. A low rate credit card is often part of an affordable credit card bundle, so where some credit cards can have annual fees in excess of three or four hundred dollars, you should be able to find a low interest credit card with a fee less than one hundred.

 Disadvantages of a low interest rate credit card:

• You won’t always find interest free days on offer. Since the interest rate is already low, not all credit card providers will give you the opportunity to avoid it all together.
• Fewer rewards. In exchange for a low interest rate, you may have to give up some additional card features like rewards programs or discount or cash back offers. This can in turn become an advantage, since you’re not tempted to spend on your card just to qualify for the rewards programs.
• Even a low interest rate adds up. If you regularly rollover your credit card balance, a low rate card can help you manage your repayments more easily, but it is not always going to help you form better credit and spending habits. It can be easy to not worry about your balance for months on end because it is only earning a low interest rate, but even low interest charges can add up over time.

We will continue with the rest of the categories early next week.

When comparing the types of credit cards available, understanding what all the options mean, can help you discard those cards which don’t suit your needs. You can also take advantage of great offers you didn’t even know existed, but which can help you control your finances and be rewarded at the same time.

As always, your comments and suggestions are greatly appreciated below.

The following is a guest post from Samantha Taylor.  Samantha Taylor is a personal finance colleague of mine and the Community Mentor of MortgageFit.  She has been contributing her suggestions to the Community since 2005. She has also made notable contributions through various articles written on different subjects related to the mortgage industry. A few of her more popular articles are “Mortgages that you can Afford”, “A Mobile Home Loan with Bad Credit” and “How Much Mortgage can I Borrow?” 

When you want to buy yourself a home, you have to take out a mortgage. The most important factor in determining your mortgage repayment amount is the mortgage rate. Prior to going to a lender for a loan amount, you should know how much you have to pay in principal and interest each month. You can calculate a mortgage monthly payment by using an online mortgage calculator.

 What a mortgage calculator is

 An online mortgage calculator is a tool which will calculate your mortgage payment, to help you to determine how much you can borrow on your home. This tool enables you to compare the costs of different interest rates and also helps you find out the total number of payments you need to make, to repay the full loan amount.

 The factors that determine a mortgage payment

 There are many factors that are involved in determining your mortgage payment. These are:

• Cost of insurance
• Local property tax rate
• Interest rate on the mortgage
• Loan term
• Loan amount
• Private mortgage insurance (if you’re unable to make a 20% down payment)

How to find out your monthly mortgage payment

 You can calculate a mortgage payment, with the help of a mortgage tool, if you follow the steps mentioned below:

 Calculate monthly payment: You need the mortgage tool to calculate your monthly principal and interest payment, which is based on the amount of the loan, interest rate and the loan term. There are a number of websites on the internet that have free calculators, all you have to do is put the values of the components mentioned above, and the calculator will figure your monthly payment amount.

 Find out tax amount: The calculator can determine the amount of your annual property tax on your home and divide this number by 12, to find out the monthly payment towards taxes. If you want to make a biweekly payment, it will divide the number by 26.

 Determine insurance cost: To find out how much your homeowner’s insurance payment will be the calculator has to divide the total premium amount by 12, if you are paying monthly.

 Calculate the PMI amount: To determine the private mortgage insurance (PMI) amount, you need to put in the figure in the required box.

 Find out the total: After you have put in all the values for the different components, the mortgage calculator will find out your monthly payment amount, number of total payments to repay the loan, along with PMI, taxes and insurance.

 When you use a mortgage tool to calculate a mortgage payment, you should also look at the amortization schedule. This schedule will help you in breaking down how much you’re payment is towards the principal and how much is towards the interest over your full loan term. Knowing your approximate monthly repayment will save you from hassles while handling lenders and will help you to get the best mortgage deal.

As always, your comments and feedback are appreciated below.

The following is a guest post from Fred at Credit Card Finder.  He is a regular guest contributor to this blog.   He helps people to compare credit cards and to choose the best low interest credit cards.
 

We’ve all heard the statistics – over half of all marriages end in divorce, but more unfortunate is that 80% of those divorced couples cite financial trouble as the main reason for their marriage breakdown. While financial troubles don’t always center around credit card debt, bad debt is bad news for couples before and during marriage, so make sure your credit card doesn’t leave your marriage in its aftermath.

How Credit Card Debt Can Get into Your Marriage

Of course credit card debt comes into your marriage because you invite it in, and once it’s made itself comfortable in your favourite chair, it’s hard to budge, and the arguments can start. Watch out for credit cards creeping into your marriage:

• Pre-marriage credit card debt. Before you get married you are likely to have lived your own life and you may have built up a little spending on your card, or you may have debts from student loans. When you get married your credit card debt and credit report does not change – it doesn’t become merged with your spouse’s where their good behaviour evens out your bad, and ladies, just because you change your name when you marry doesn’t mean your credit card bills can’t still find you.

• · Funding the wedding with credit. When you get swept up in the excitement of planning a wedding it can be easy to forget about the marriage you want on the other side of the big day. As a result couples can enter their marriage with a lot of credit card debt hanging over them and before you find yourself in that situation, consider whether that big dress and those extra dessert options are really worth the interest repayments when you could be enjoying your new life.

• · Overspending as a couple. Once you’ve made it through the wedding day you want to start settling into your marriage, but many couples think that this requires a big house filled with expensive furniture and two new cars in the driveway. This sort of credit card debt is not just a problem for marriages but it is especially pertinent when it can have a negative effect on your marriage. Even if you don’t realize you’re doing it, you may find yourselves putting a new dining table on credit because you have to have a dinner party with all your other married friends, or charging new curtains in the bedroom to match the sheet set from your bridal registry – before you know it your marriage is in debt.

The Effects of Credit Card Debt on Marriages

Credit cards can be most devastating because most marriages will consist of a spender and a saver. The spender is the one upgrading the curtains and fleshing out the glassware collection, while the saver is wondering why yet another bill has to be paid on credit this month. The effects of credit cards on a marriage include:

• · Finger-pointing and blame. Because of the differing attitudes of the spender and the saver, the saver blames the spender for using the credit card for unnecessary purchases and the spender becomes defensive. These attitudes build tension and disrespect within a marriage and while you or your spouse may not be an extreme spender and the other an extreme saver, when a couple spends joint money individually relationships can break down.

• No time to develop a married relationship. If a couple has entered into the marriage with credit card debt or has quickly accumulated it furnishing their home and their life, finances will soon take priority in the relationship. Both people will work longer and harder to pay the bills and money and credit card repayments will be the topic of most conversations. As a result finances come before the relationship and a marriage is a time that a couple should grow together, rather than be pushed apart by financial stress.

• · Avoiding the issue. When credit cards consume a marriage it can be tempting to bury your head in the sand. However, ignorance is not bliss in this case and the longer you ignore the spending habits and credit card debt within your marriage, the harder it will be to control, and the more likely it is that your marriage will deteriorate. By ignoring the financial issues in your marriage you are also ignoring the marriage itself, and more importantly your spouse. Learning to manage joint finances and being able to slowly build a home and a life together affordably is part of learning to be in a marriage and if you ignore that, a part of your marriage and relationship will be missing.

How to Avoid the Effects of Credit Card Debt

It’s easy to say ‘just don’t get into credit card debt’ but it’s not always as easy to follow that advice. Instead, here are some things to remember to help you avoid financial stress in your marriage:

• · Don’t go for the end until you have the means. When you are first married there is no need to buy the big house to accommodate the children you’re going to have, and you don’t have to try and accumulate a house full of belongings right off the bat either. Instead, start out in a smaller house and upsize when you are ready to start a family and can afford it, and remember – your parents didn’t fill their home in their first year of marriage so don’t try and recreate something which has probably taken thirty years to build. Instead, buy pieces of furniture as you can afford them, and get over your vanity if your plates don’t all match just yet.

• Minimize your debt. Look at why you might be driven to use your credit cards and decide whether you can do without two new cars and save money with a second hand car you don’t need a loan for, can you shop for clothes just at the sales and do you really need all those pay TV channels? If you learn to live within your means in your marriage, you will be able to avoid turning to the credit cards during a tight week, because there will be fewer tight weeks.

• · Be honest in your marriage. If you are bringing individual debts to your marriage be honest from the beginning and outline a plan with your spouse about how you plan to pay them off, or whether you’ll need to pay them off as a couple. Then you can work together to create a budget to manage your finances and see just how much money you have spare each week to pay off those debts, and eventually buy new furniture or move to a bigger house. If you work together on your finances instead of battling from opposing sides, it can actually give you a closer marriage.

As always, your comments and feedback are greatly appreciated below.

Hey everybody, real quick here. I religiously follow quite a few personal finance blogs out there, and Money Crashers happens to be one of them.

A great new blog that’s packed with good info.

Well, they’re currently having a giveaway chance to receive a brand new iPad, something I think we’d all love.

Full contest rules available at their site Money Crashers.

Hope you enter and hope you win.

The following is a guest post from my good friend Ryan Boudreaux over at CajunChef Ryan. He is a colleague of mine who has provided me with numerous budget-conscious recipes in the recent past.

You can visit Ryan at CajunChefRyan. Don’t forget to congratulate him on his Saints recent Super Bowl victory. Geaux Saints!!

Sometime between the summer of 1974 or 1976, it became a turning point for me as I discovered the love of cooking through public television, specifically with two major influences from watching “The French Chef” cooking show with Julia Child, in addition, “The Frugal Gourmet” cooking show with Jeff Smith. Most of you already know about my omelets story and the mark that Julia Child made in my life and how she started me on the road to cooking at home when I was a teenager. As well, Jeff Smith and his show, which preceded hers every weekday morning on PBS, also influenced me in an extraordinary way.

At the time, Jeff Smith was rather new to the television scene and was selling a small spiral bound cookbook for just a few dollars from his television station located in Seattle, Washington. I secured a copy by sending in a letter with the money asking about how I should get started in a career within the culinary world. A few weeks later, the book arrived in a small manila envelope, but no reply to my request. I was a little upset that he did not respond to my inquiry, but the small cookbook was great. I have and continue to prepare many items from the book, but one that has stood out over all these years is a simple cucumber salad that Jeff included on page 24 and he noted that its origins are from Israel. Jeff also mentions that this salad has a flavor very close to what New York Jews call a “new pickle.” We love it, and with some fresh garden grown cucumbers given to us over the weekend, I just had to make this salad once again, and share it with you today.

Ingredients

4 Large Cucumbers, peeled and thinly sliced
1 Medium Onion, thinly sliced or julienne
¾ Cup Sugar
½ Cup Water
1 Cup White vinegar
½ Tbsp Dry dill weed

Preparation Steps

1. Combine the peeled and thinly sliced cucumber and the thinly sliced onions in a large bowl.
2. In a small saucepan combine the sugar, water, white vinegar and dry dill weed and bring to boil stirring to dissolve the sugar.
3. Pour the liquid over the cucumbers and onions, stir well and chill for 4 to 6 hours.

My thanks again to Ryan and his unlimited number of the more “frugal” type recipes.

The following is a guest post by Joel J. Ohman.

Joel is a CFP and the owner of a website for comparing credit cards. He is a firm believer in responsible credit card use and making credit cards work for you by earning you cash back and not against you when you carry a credit card balance.

If you are dead set on paying off all of your credit card debt (which you should be) then no matter how hard you scrimp and save and live frugally there comes a limit where you just can’t cut back any more. It is certainly very important to look for different ways to save money but after you have exhausted all of those avenues its time to consider other options because after all finding cheap house insurance or cheap car insurance or any other type of bargain shopping is a one trick pony in that yes you can save some money up front but in order to continually keep money flowing in you need to MAKE more money and not just SAVE money.

If you really want to add rocket fuel to your credit card debt repayment plan then change your focus from cutting down your spending (definitely a good thing of course) to ALSO finding ways to make more money. Sounds pretty obvious, right?

However, easier said than done. Here are some down and dirty ways that you can make more money to throw right at paying off your credit card debt.

Get a Second Job

If you are really serious about paying off credit card debt quickly then one of the most popular ways to make more money on the side is to simply apply for a second job. Typically, jobs with flexible schedules or schedules that will work in conjunction with your 9-5 day job are a good fit. Yes, you may feel some resistance from your spouse or family members about becoming a pizza delivery person, server, or bartender at first but if you are really serious about paying off your debt then suck it up for as long as it takes to pay off your credit card debt and hey, at least you will always be busy right?

Ask for a Raise

OK, this may step on some toes but what is holding you back from asking your boss for a raise? If your job performance is holding you back then that is a hint that you should start devoting more time and effort into your job. If you are confident in your job performance then maybe it’s time to approach your boss and make the case that it’s high time for you to get a pay bump.

Start a Freelance or Side Business

In the age of the Internet it’s as easy as pie to earn some extra income on the side. No, you will not “get rich quick” and yes, you will actually have to do a lot of hard work but it is certainly possible. Start a website, sell stuff on eBay, offer your services on various freelance websites – the list goes on and on. Find something that you are good at and/or enjoy doing and get started!

Start Now!

This guide is short and sweet because you know what? We all know that making more money will help to pay off credit card debt faster and we all know that when it comes to making more money that we can each attempt to do one or more of the 3 basic money making ideas above. It’s not rocket science and it may not be glamorous to deliver pizzas for 20 hours a week on the weekends but it’s something that everyone of us could do if we were really serious about making some extra dough (sorry – couldn’t resist) to pay down credit card debt ASAP. Get started now!

Share your thoughts and comments with my readers below.

The following is a guest post from Tom Becker.

Tom works with an Australian comparison website called www.moneycompare.com.au that allows Australians to do a quick comparison of credit cards so that they can save money and time.

It’s a shame that credit cards have received such a bad reputation over the years, because in many ways, they are quite beneficial financial products. If they are used and understood properly by consumers, they can actually be positive factors in one’s personal financial life.

That’s just the problem though. In most cases, the terms, conditions, rates, and rewards are so muddied by the lines of lingo that card companies toss at us, it can be difficult to know exactly what you’re getting into when you sign up for a credit card.

Still, we can’t just blame card companies when we find ourselves in debt up to our eyeballs, and thus, we must conduct our own due diligence when choosing the credit cards we use.

1. Read and Understand Your Rights

One of most important aspects when it comes to due diligence and credit cards, is reading and understanding your rights. Consider the time and effort many of us spend on other legally binding documents such as drawing up a will or obtaining a mortgage. We often have lawyers or other professionals review these documents before signing them, but for credit cards, a lot of us just scan the information, sign on the dotted line and hope for the best.

Now it may not be worth having a lawyer review the terms and conditions of your credit cards, but you should at least read the fine print if nothing else. Taking fifteen minutes to read that information could save you hundreds of dollars in fees and interest, not to mention undue stress and frustration down the road.

2. What Are the Introductory Rates?

You should also be aware of any introductory terms or rates. Many credit cards will start you off with a low or 0% APR for a certain number of months.

Similar to cable companies who do much the same thing, initially dangling free movie channels or upgrades to entice customers, many consumers are caught unprepared when the introductory period ends. This means that you might be carrying a huge balance on your card when this happens since you weren’t having to pay interest on it in previous months. By the time you realize those double-digit rates have kicked in, it’ll be too late, and either the card company has nailed you for the interest, you won’t be able to pay off your full balance, or both.

So be sure to know how long the introductory rate lasts, as well as what your rate will climb to once your introductory period is over.

3. Does it Offer Any Rewards?

On the flip side of those horrifically high interest rates, are the types of rewards a card might offer. When deciding on a credit card, consider what rewards are most valuable to you. If you travel frequently, you might want to consider a card that offers frequent flier miles or gas discounts. If you are a heavy shopper, maybe a card that offers cash back or store discounts would be preferable.

4. What Are the Fees?

Credit card companies are great at finding inventive ways to charge us. They have a whole variety of ways to skew numbers or get creative with percentages and fee amounts. There may be late fees, cash advance fees, yearly fees, minimum monthly interest charges, inactivity fees, and a slew of other finely tuned ways to pull money from consumers, so be wary of and understand what fees are involved with your credit cards.

5. What is the Credit Limit?

You don’t want to be caught by surprise when it comes to how much you can charge to your credit card. If you’re planning to use a card for extensive traveling, large business dinners, or purchasing equipment for your company, you’ll likely need more than a $500 limit. Make sure you understand what your limit is to avoid embarrassing and possibly costly situations involving payment with your credit card.

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