In this slowed down economy, many people are looking for ways to use their money wisely as well as finding ways to save some money. I am a big believer in the idea that the economy does not decide how you live. Investing money wisely should be a practice that you are taking part in whether the economy is good or slow. Here are some ways you can save some extra bucks so that you still have the opportunity to use your money to grow your wealth.
1.Lower your interest rate-Most of the credit cards you own have interest rates that are too high. If you call your credit card company you can ask for a lower interest rate on the card with the highest rate. If the operator says that it is not possible, ask for a supervisor. This might seem difficult at first but if you don’t get the discount you want the first time you ask, call back and try again.
2.Slow Down Your Internet-Downgrading to a slower Internet speed can save you a bunch of money in the long run.
3.Don’t Rent, Borrow-Most public libraries now have CDs and DVDs available for checkout. I found this out about a year ago and I haven’t rented a movie from blockbuster or any other movie rental company since. The library in my city has movies, TV series, concerts and many more that you can borrow for FREE! I can checkout up to 15 DVDs at a time. Considering how much they are now charging for movie tickets and DVD rentals, you can save a fortune.
4.Pay everything online-Save money on stamps and gas by paying your bills online. This is also a good way to save time.
5.Get rid of Home Telephone-I’ve tried to keep my home phone for as long as I could. I even removed caller ID, call waiting, three way calling, long distance, and every other special feature phone companies offer and I was still paying about $30 a month (including taxes and fees). Finally I said “screw it” and cut everything. I figured since the only people who were calling me on my home phone was telemarketers, I wouldn’t be losing much. Cell phones are now more affordable and convenient than a home phone do if you want to save some bucks fast, say goodbye to your home phone.
5.Do you really need all of those channels-Cable is definitely a luxury. I was at a seminar on financial growth and the speaker said, “Unless you are a millionaire, you can’t afford cable.” But if you positively cannot live without cable, downgrade to basic. During a recession luxury items should be the first to go and I definitely think that 300+ channels is a luxury.
7.Bring lunch to work-It’s getting harder to buy a good meal for under $5 these days. Most lunches will run you between 6 to 9 dollars. If you were able to score a $5 meal for everyday you worked, you would still be spending $100 a month on lunch alone. Factor in the breakfast, dinner, and snacks, your food spending could easily reach $300 a month. Begin to bring your lunch to work and save money that is being spent needlessly. People also tend to eat healthier when they bring lunch from home.
8.Buy generic-Most generic products are made with the exact same ingredients as their name brand counter parts. Try some generic products and most likely you will not notice the difference.
9.Buy from EBay- EBay is fast becoming my first option when buying an expensive item. Check EBay before buying anything. If you don’t see the item you are looking for, check back in a few days to see if someone has made the item available to buy.
10.Don’t pay checking account fees-Almost all the big banks are now offering free checking. If you are paying checking account fees you are throwing your money away.
11.Cut coupons-I use to toss the coupons section of the newspaper but now I look forward to seeing what’s on sale. If you find items that you need and use for a good price use them but try not to but things you will not use or need. I make a list of things I need then I look for coupons for those items. This prevents me from clipping and using a coupon just because it’s a good deal.
12.Buy with a rebate-I recently good a Blackberry Curve for a really good price. I took me a while but I found a rebate for the model that I wanted and it saved me over $150.
13.Car pool everywhere-Start with a car pool to work and then see where else you can go with people you know.
14.Stop smoking-Cigarettes are another one of those needless things that do nothing for us other than take out money. It is actually killing you and taking your money at the same time. There are absolutely no benefits of smoking but since it creates an addiction to those who smoke, they can charge almost anything they want for a pack and people will pay it. A smoker should never complain about being broke. If you smoke do whatever you have to do and quit. If you don’t do it for your health; do it for your wallet.
15.Take advantage of 0% Credit cards-I stayed away from these offers for a long time before I really understood how these can benefit me. Transfer balances from a high interest rate to a 0 balance if and only if there are no fees attached.