The Mogo Blog

BillGuard Keeps Your Credit Card Safe

Online security is a huge concern for most of us – but it can really be a tough thing to stay on top of all the time. Checking every account and pouring over every credit card statement is something that we SHOULD be doing, but often neglect. When dealing with online fraud and credit card fraud, banks and CC companies are usually fast and reasonable at tracking fraudulent charges and getting you your money back. But what about when charges fall through the cracks? If you’re not diligent about checking line by line, you’re going to be on the hook for that amount. What about the portions of your bill that aren’t fraud-related, but still costing you money that you don’t have to spend? Well, there’s an answer for that. Enter: BillGuard. This is a great product that monitors your banking information by scanning your credit cards on a daily basis. It’s a free protection service that calls itself ‘the world’s first anti-virus system for bills’. BillGuard estimates that the average American will pay ‘an additional $300/year’ to unnecessary fees and fraudulent charges. They further went on to estimate that banks miss up

4 Crazy Ways to Stop Credit Card Debt Before it Starts

Credit Card Problems? We’ve all been there – trust me. But here are some (possibly insane) ways to stop the pain of credit card over-spending. Credit cards can be easy to get, and that’s part of the problem. Cash (that you don’t actually have) is easy to access and spend, which can cause a mountain of debt to deal with. When this happens, it’s time to sort out your credit card habits. Here are some ways to stop the over-spending pain before it even starts. While all of them might not be for you, you might find an overall theme that we’re trying to get across… The Tips! 1. Cut’em Up! That’s right! Ditch the card entirely. If you can’t trust yourself to spend responsibly, then you’re better off using the scissors than using the POS. If you’ve got a few cards, but only need one… trim down the fat. 2. Leave them at home You might not be able to go through with #1, but Tip #2 is well within reason. Heading out to the mall to pick yourself up a new shirt? Only take the cash that you have

An Easy Way to Track Spending: Use Only 1 Payment Method

We’ve talked about budgeting your cash before, and knowing what you spend money on – but let’s face it, sometimes that is a tall order. With bills, one-off purchases and the options to use cash, debit or credit it’s easy to get to the end of the month and have no clue where all your funds went to – and how are you going to budget properly when that happens? Here’s an idea for getting your spending on the right track: simplify your methods. Rather than use the combo of cash, credit and debit, stick to one (preferably one you can track online). For me, I just spent a month where I ONLY used my credit card. To keep myself to it, I left my debit card at home, and didn’t use cash. The credit card works well for me because I am able to cover all my expenses with it – including bills that couldn’t be paid via debit or cash. At the end of the day/week/month, take a look at your expenses all listed out. Try and identify some spending patterns and see where you can cut down. Those little bits help – especially

3 Ways To Save $100 In 10 Minutes!

Saving money can be easier than you think. Here are three simple ways to save $100 in 10 minutes each. 1) Call your credit card companies and get your fees removed – This includes yearly fees, late fees, membership fees, application fees and over-the-limit fees. Every company should remove at least one fee if you ask, and many will remove up to a year’s worth of fees. Especially if you are carrying a balance on the card. Ask politely, or ask for a manager and you will be surprised at the results you get. 2) Call your cell phone company and re-negotiate your contract – Remove any nonessential features that you are being charged for, and flat-out ask how you can lower your bill. This should save you far more than $100 in a year’s time. If they don’t want to work with you, just threaten to transfer your service to someone else. 3) Make a two week grocery list – Taking the time to plan your shopping trip will eliminate all of those extra little trips to the store. You know what I mean – the ones where you forgot an ingredient or worse yet, ran out of something you