Money Saving Wednesday…It’s Back, our Weekly Tips for Saving Money
With the economy continuing in a downward spiral we are all looking for new ways to save money or for reminders of the things we may have done in the past but forgot when times were good. Today let’s look at just a few.
Put Down As Much As You Can
When you are purchase a large ticket item on credit put down the largest deposit you can afford. Don’t be swayed by the sales person or real estate agent, who reminds you that you only need to put $—— down and you can take the rest of your cash and use it on something else. You will pay hundreds or thousands of dollars more over the life of your loan in interest charges when you make a small or no down payment. This same principle applies to all purchases. If you are buying school clothes you don’t have to put it all on your credit card. In reality you should not be using a credit card at all but if you have to don’t forget your cash. If you have $50.00 in your budget for clothing and extras this month but school clothing comes to $100.00 give the clerk your $50.. cash and have them place the remainder on your card. Lesson, put as little on your card as possible.
Eliminate extra charges
Examine your insurance policy, retirement funds, bank accounts, etc. and eliminate any extras you do not need. You may be paying for a policy which covers braces but you don’t have any children. Banks, cable companies, cell phone carriers, utility companies, all have hidden fees for things you are charged for but never use.
Determine the real cost of an item
If cable, for example is $20.00 per month it is really $240.00 per year. What could you do with $240.00? What about the newspaper? If you read it by all means keep it but if you don’t have time to read consider only getting the Sunday edition. With Hulu and Net Flicks there are so many options now to eliminate cable and still get your “fix”.
Cancel private mortgage insurance
Once you owe less than 80% of your home’s value your lender no longer requires mortgage insurance. Keep a close eye on when you reach this level and cancel the insurance. With many upside down on their mortgages this is harder to do but if you are lucky enough to have equity take advantage of that.
Now, go and do some serious examination and save, save, save.
Subscribe to our Newsletter: http://blog.totallyready.com/announcing-the-totally-ready-newsletter/
Join Our Yahoo Group: http://groups.yahoo.com/group/TotallyReady/
Back issues: Totally Ready Newsletters July 2009- June 2010
My discussion with Doctor Prepper all about food storage part 1. .http://www.blogtalkradio.com/doctorprepper/2010/07/08/doctor-prepper-show
Doctor Prepper show all about food storage part 2. http://www.blogtalkradio.com/doctorprepper/2010/07/20/doctor-prepper-show
Talk with Halli: food storage and current financial outlook. http://www.blogtalkradio.com/idahotalk/2010/07/16/hfalli-friends
