Money Saving Tips #6
Some of our money saving tips may seem too small and insignificant to worry about but please don’t get trapped into thinking that way. While you may save only a few cents by purchasing stamps before they go up in price that few cents combined with all our other tips will save hundreds and even thousands over the course of a year. Over a lifetime that is huge! Today’s tips will save you big right away so pay close attention and spend a little time to investigate and change what needs change.
1. Eliminate extra charges. I was recently speaking with a stay at home mom who runs a business selling phone plans for land lines and cell homes. She was telling me about a friend who she had talked to about changing plans. The friend said they were happy with what they had but agreed to look at her bill. She was shocked to discover that she was paying for many services she did not need or want and had never requested. She saved more than $20.00 a month! When our son in law graduated from dental school we canceled our dental coverage…$27.00 a month! Do you really still need maternity coverage if you are 50? Check your bank statements. You may be charged for services there also that you never use. Utility bills, hospital bills, credit card bills, all tack on charges. Get them removed.
2. If you are making a large purchase such as a home or car put down as much cash as possible. Save up for those window coverings and don’t hold out money from your down payment for them. Ask your family for those items for birthday gifts. Group gifts are wonderful! If those coverings are paid for with borrowed money you will be paying for them years after they have been thrown away. It is much cheaper to add an upgrade to a car or home later than to roll it in to your loan. We have friends who saved $14,000 dollars on upgraded carpet in their new home. They tore out the contractors grade carpet, before they moved in and added their own upgraded carpeting. When you upgrade through the developer they add something for themselves to the actual cost of the upgrade.
3. Pay with cash. Get in to the habit of taking cash out of your pay check and leaving the credit card at home. Not only will this help you understand exactly what you are spending and where you are spending it but it will also eliminate interest charges on your card balances. We all intend to pay for the bill each month but something always seem to get in the way and before long we have a balance again. You can do it!
What are your favorite money saving tips?
We have a financial institute here in Canada where there is no charge for using the debit card or cheques. It is affiliated with a grocery store and if you use their debt card on their bank they pay you in points which you can buy groceries with. Their mastercard is the same deal I charge everything on it to get points esp big items. I even put the down payment on my car on it, but I ALWAYS pay it off every month. So far this year I have $400.00 in free groceries.
Debbie