I have used credit payment.  I have used debit payment .  I have used cash payment.

I have used borrowed money.  I have used allocated money.  I have used saved money.

So when it comes to money and credit and quality and value and price… what works best?

Savings money gives better buys than credit money

In my experience with all different ways to buy stuff – the best money for the job is Savings Money.  Period.  Not only can you get better buys, it can also give you piece of mind.

As time goes by, and I grow less concerned with appearances and more concerned with quality, value, and satisfaction – saving my money is not only something I want to do… it is something I have to do.

In the past, regardless of whether I attempted to buy a car, get a new winter coat, get pre-approved for a mortgage,  or secure a consolidation loan for credit card debt reduction… I always want quality, I always want value, and I always want the piece of mind that comes along with better buys.  And all that keeps bringing me back to the same conclusion…

Time and time again nothing allows you more control over spending decisions than savings money.

Let’s consider the following examples:

1. Pre-approved mortgage – If you are planning to get a mortgage, you stand to retain way more control over the buying process if you have savings money; and the more the better.  Among other things, your interest rate, the neighborhood, the type of home you can purchase – all of this swings in your favor the more savings money you have.
2. Buy a car – When you have savings money, you hold haggling power and walk away power; and again, the more you have saved the better.  Auto financing credit and leasing can be a thing of the past if you have enough saved.  🙂
3. Small purchases – Even small purchases stand to be more comfortable and under control when you have savings money.  If you use borrowed credit you presume upon your future ability to work, have employment, and be able to pay.  That sounds stressful to me.  Why not just parlay your purchases until you can use savings money.
4. Job contentment – Yes, savings money can even make you happier with your job.  How?  Well the more savings money you have the less trouble you will have if you lose your job, and if you have enough saved, you could focus more on doing what you love as opposed to doing what pays enough to cover your credit bills.

How do we get this “Savings Money?”

Okay all this sounds great but what if we currently have no savings money… what do we do until we can build up a decent savings cushion for the future?

5 quick ways to cut your costs and build your savings.

1. Spend less than you earn – This sounds simple right… well then let’s start doing it for Pete’s sake!  Stop spending so much and start saving more.  Start today by opening up an Capital One 360 Savings account.
2. Set savings goals – Use the Capital One 360 account you opened in step one to formulate, track, and build all your different Savings Goals.  Never had savings goals before?  Well what better time to get started than now?
3. Budget your money – Some people tell you this is not necessary… they are wrong.  Like Benjamin Franklin said, “A small hole will sink a great ship.”  You have to learn where you money is going before you can turn the tables and tell it where to go.
4. Slash expenses – It’s high time we become acquainted with sacrifice again.  The sooner you start sacrificing you wants the sooner you will build up your savings money and start winning with money.  Slashing your expenses is like giving yourself a raise.
5. Get more work – Starting a business on the side doing something we are passionate about or just start delivering pizzas.  Even in a bad economy there is a lot of work to be had and a lot of money to be made – as long as you are willing to out-hustle the other guy.

What about credit and debit?

I did not condemn the use of credit or debit… I simply stated that we should use “savings money” for purchases rather than credit money.  In other words, if you like using your credit card for cash back or whatever – then go for it – as long as you have savings money in the bank to pay off the debt at the end of the month.  And debit cards are basically just an easy way to use our savings money… as long as we use them responsibly.

Did I motivate you to build up your stores of Savings Money?

Good… that was my goal.  🙂  Experience tells me that the sooner we start building our savings, the sooner we will start winning at money.

Start winning now by opening an Capital One 360 Savings Account today.  If you open with at least $250 Capital One 360 will give you $25 cold hard cash.