Ways to become “Fancy” with your finances

Many are captivated by Mary J. Blige’s voice, Drake’s lyrics and Swizz Beatz production when its first heard the tune.  “Nails done, hair done, everything big, you fancy…”  When it comes to being fancy most are ready to put their best foot forward even if it forces you to live outside your means.

It’s time to define your success and measure your worth by your standards and not by others. No two people are the same, neither are their goals or financial statements. It’s amazing how people look at one another and wish for what that person has.

What you don’t know is how that person worked, sacrificed and educated himself for the “fancy” look. Where do you want to be and how are you going to get there?

Pay yourself first as if you are a creditor.

Take the initiative to set up a savings account online that isn’t easily accessible. ING, HSBC and Capital One are among those who offer higher interest rates and benefits of local financial institutes. Your indicated dollar amount will be a direct deposit and able to grow without any hesitation.

Give your retirement contribution a raise.

Take advantage of pretax contributions toward your 401K or 403B plan.  Since it’s pretax, Uncle Sam will not be invited to dinner. Your $25 increase toward retirement will decrease your net pay by only ($20.15) AND the cash value will increase…now that’s fancy.

Open a credit card with a credit union.

Credit unions offer lower interest rates than banks.  You can visit http://www.bankrate.com to view various credit cards and rates and take advantage of the offers.  Before you become ‘fancy’ with plastic be familiar of your terms, interest rate, annual fee and trial periods.

It’s great to be independent and fancy, it’s even better to be ‘fabulous and money savvy’.  Take control of your finances to confidently save, increase contributions and pay your bills.

“Love Yourself Enough To Support Yourself”

Property of SMG, LLC

Reported by Bahiyah Shabazz, MBA

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