Simple Tips to Save Cash
Do you need help saving money? Are you looking for some new ways to save money that you have not tried before or are you searching for more effective ways to save money than you are currently practicing?
Perhaps, you are simply trying to live more frugally, or out of necessity, you now need to look for more ways to cut costs and trim existing expenses. These easy money-saving tips will mostly serve beginners just learning about personal finance and best aid those just starting to develop money-saving habits.
Money-savings experts are likely practicing these simple savings tips already, however, others may be actively choosing to use equally efficient, but yet different, money-savings strategies unique to their own short-term or specific savings goals and financial circumstances.
Vary Your Money-Saving Strategies as Your Needs and Circumstances Change
These simple tips to save money can be used and varied with other equally efficient money-saving strategies. Financial savings goals are generally not static. Families are likely to alter their money-saving habits, pending lifestyle changes, like a new baby's arrival into the family or having to budget for a teen preparing to go off to college. While these tips might not work for you presently, they are highly beneficial and they can be used successfully by anyone, when feasible, at any time. Don't hesitate to alter or resort to using these or other cost-cutting tips, at different times in your life, pending your own shifting financial needs and circumstances.
Saving More Money at Home
Many people today are looking for new ways to save more money at home by cutting, their regular monthly household expenses. If you are a new homeowner, for instance, and about to pay a home insurance premium for the first time, this may be one of the many new ways to save money you might evaluate and adopt now that you have new bills to assume and manage.
Money-Saving Habit #1 - Attention New Homeowners - Pay Bills Annually
Did you know it’s possible to save from $24 to $42 or more each year on your homeowner’s insurance premium by paying your bill annually instead of monthly? The same is true if you have auto insurance and skip any of the monthly or quarterly ‘easy pay’ payments insurers offer. It's to an insurer's benefit, and not yours, if you pay them monthly as your costs will be higher. Between my two insurance policies, I save nearly $80 a year by paying these two bills annually.
Not all households are going to be able to make big annual payments, however anytime savings can be achieved, or anywhere costs can be cut, savings goals result. These easy saving tips can contribute significantly to the overall savings goals a person can reach, if they add these tips, or the many others that exist, to the arsenal of strategies they use to save money. Remember these household expenses need to be paid, regardless of how they are paid.
Investigate other opportunities and payment options to save money by paying bills annually, to avoid fees or to obtain dramatic discounts such as:
- Renters consider paying for six month’s rent at a time to get a free month’s rent
- Do you buy life insurance too? Can you also pay for this coverage in full to save more money?
- Realize extra savings on insurance costs by buying your auto insurance coverage and homeowner's insurance from the same insurance provider
Money-Saving Habit #2 - Set Up Automatic Bill Payments
Most people set up automatic bill payments for the convenience factor. Others do so to avoid late fees, missed payments and the associated and needless penalty costs for each of these missteps. Still others do so for the savings on bank checks, envelopes and postage. However, there is still another excellent reason to set up automatic bill payments. Don’t overlook the potential to save money from lenders or ignore the fact, that while you are incorporating this easy saving tip into your routine, you are also improving your credit score and helping yourself, as a borrower, to establish an undisputable history of on time payments and a record of consecutively paid bills. If you have missed payments and made late payments in the past, you are shortly to have a steady record of paying balances on time and making consecutive monthly payments. Why not then ask your lender for a lower rate? Take advantage of this new opportunity to negotiate a better lending rate.
Money-Saving Habit #3 - Curb Your Shopping Habits
Be more disciplined about your shopping habits. Discern needs from wants and delay shopping purchases and the need for instant gratification. Is the item you are considering purchasing really something you need to buy? Can you borrow it instead? Do you really need to buy and find more room on your shelves for another DVD movie when you can borrow DVD movies anytime you want from the library and watch them free of charge? Take advantage of your local library to read books, to borrow and listen to new music CDs and to watch cost-free movies. I don't believe anyone would recommend foregoing all discretionary purchases, however, we can all benefit from limiting ourselves from time-to-time and curtailing the impulse purchases we have all accustomed ourselves to making over the years.
Other Ways to Curb Spending
- Borrow goods and trade services instead of making new purchases
- Reuse and repurpose existing household items to stall or forego purchases
- Find free or lower cost options to goods and services
- Here are a few more pain-free ways to save money at home
Try all of these ways to save more money. Spend less money on household bills that you have to pay anyway, improve your credit history for lower lending rates and curb your impulse to buy goods when possible. These simple tips for saving money may be new ways to save money for you or provide more effective ways to save your hard-earned income. For those who need help saving money, and for those who like to seek out new cost-cutting strategies, why not test these three more ways to save more money, for yourself, to find out just how well they do work. How much money will you save trying out these easy savings tips?