Here are ten tips to save money:
- Avoid Late Fees - Paying bills on time can save you a ton of money. Collecting late fees funds a variety of businesses, including credit card companies and movie rental companies. Give yourself a weekly allowance in cash in order to pay off your bills and stick with it - when you have no more money simply do not spend.
- Go Out for Breakfast or Lunch - Dinner is the most expensive meal of the day and you can save a lot of money by going out for breakfast or lunch with friends instead.
- Check for Old Models - When making major purchases, always ask the store clerk if they have last years model avialable or on sale. Often times, stores are trying to quickly move inventory and you can take advantage of the savings.
- Quit Smoking - Smoking is a $1500 annual habit that is very hard to stop - but it definitely can be done. Think of not only how much it is costing you in terms of dollars but also in years of your life.
- Cancel Your Mortgage Insurance - If you hvae 20% or more equity in your home and you are still paying private mortgage insurance (PMI), then call your mortgage company and cancel it. That alone will save you $40 a month!
- Refinance Auto Payments - If you have an auto loan outstanding for more than a year, look into refinancing it and you could get it for much less.
- Stop Drinking Soda - Soda is not only bad for you, but it is also a very costly habit to get into.
- Buy Online - Buying products online on eBay or Amazon is often much cheaper than buying it in the stores - even if it takes a few extra days to get there.
- Ask for Discounts - Even if you do not have a coupon for a certain service or product, ask for a discount and see if they will give it to you. It only takes one time to make this strategy pay off and it will happen more often than you think!
- Use Less Detergent - Using only 2/3 of the usual scoop of detergent is often all that is needed for clothes and dishes. This can save you a lot of money in the long run.