Are you looking for some tips on how to save money? Saving money is necessary when you are up for a big purchases, work on pay off debts or undergo income loss. In addition, if you can save more money, you will also have more flexibility for investments and long-term savings. Here are top ten tips we picked up for you on how to save money.
1. Lower your credit card rates.
Make some calls to your credit card companies and request for lowered interest rates on your card balances. Most people may consider this as a work in vain, but you don’t lose anything by just making some calls and if you got lucky, you will be surprised that it just is worth your trial. If they don’t want to help you, tell them you are going to transfer to another competing company and they may want to change the mind and keep your business.
2. Cut your monthly bills.
You have to pay a large amount of money each month for the utility bills, Internet bills, cable bills, phone bills and so on. Compare the service and price of the competing companies and call your current ones, requesting that they match or provide lower rates. Also, try to bluff and “cancel service” to see if they want to offer some good deals.
3. Don’t just pay minimum due.
You should pay more than just the amount of minimum due on your credit cards every month. Maybe it cost you more up front, but in the long run you can substantially cut down your interest generated by your card balances.
4. If you have cash, don’t use credit cards!
Imagine how people buy things when there was no credit cards and just cashes? Use cash instead of cards is another good way to save. Reports suggest that by paying with cash, a customer can save up to 16 % compared with paying with the plastic. This is extremely true in grocery stores where it is easy for you to tell the buying extras.
5. Save some bucks on foods.
Dining out can cost several hundred per month. Instead, you can make food from scratch and grow your own produce in your lawn to save some bucks on groceries. Also, you can make your homemade breads and once you are well practices, you can get even better taste!
6. Pay less than full price for clothing.
The price of clothing changes a lot through different seasons. It is a good try to purchase clothing on sales and seasonal clearances in discount stores. You can also keep an eye on the yard sales or flea markets in your local area for some incredible bargains.
7. Be a rational consumer and learn comparison shopping.
Before you buy anything, especially electronics and home appliances, you should read reviews first and compare different products for their prices, functions and features. It may take you a while to figure out the best one, but it will be worth your effort that you are able to select the best one—in the same time not the most expensive one.
8. Cash for cars!
If you are about to buy a used car, you are recommended to pay in cash but to participate in financial plans. The cost of financial plans are typically high—so pay for it all by yourself and save a bunch!
9. Find a bank with no fees on checking accounts.
You should ask the bank staffs if they charge on your checking account and when you withdraw cash from their bank branches. It may cost your $2 to $4 if you withdraw cash from in-network ATMS or at USPS or during debit transactions, hence you should make sure before you do that.
10. Read the correspondence letter carefully.
The last tip is to read the correspondence letter from your bank or credit card companies with caution. Since some of them offer you lower interest rates only if you reply their letters, you don’t want to miss the potential chances of saving some money!
*Image source: http://www.kiddycharts.com/parenting-tips/the-modern-mum-guide-to-saving-money/.
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