Five Ways To Save Money
Establishing a savings account is a good idea for many reasons. Maybe you need to have some repair work done on your car, pay a visit to the dentist, or have the roof replaced on your house. If you do not have a healthy savings account in place to cover unexpected expenses, you may have to resort to taking out a loan or using a high interest rate credit card. Both of these options mean you incur debt, and then have less money in your pocket every month as you repay these obligations. While we understand having a savings account is a good idea, we also know that is hard to find ways to cut back on expenses so you can put sock some money away every paycheck.
If you are looking for ways to save money, here are five great tips:
- Search for a bank that does not charge a monthly or annual fee. While it might seem like a small amount to pay $10 or even $20 a month for a checking account maintenance fee, over the course of a year you are looking at a couple hundred dollars. Rather than pay your bank to allow you to be a customer, find a bank that values your business and offers perks instead of charges fees.
- Eliminate or reduce unused technology. Do you still have a land line phone? If so, how often is it really used? Chances are if you have a land line phone that has not been bundled with other services, you are throwing away money every month. Consider eliminating your land line and going to use of your cell phone only, and also think about cutting out premium cable channels or doing away with television altogether.
- Buy in bulk, but only if it makes sense for your family. Joining a warehouse club can save you money if you have a large family, because buying things like groceries in large quantities often times means you are paying less per serving than if you shop at the neighborhood market.
- Cut out your morning stop at the coffee shop and invest in an at home brewing system. Over the long run the cost of the machine at home will pay for itself in what you save by getting your morning java on the corner.
- Avoid making impulse purchases by shopping with a list and buying only what is on your list. You can also opt to shop online retailers or discount websites instead of spending an afternoon at the mall. The overhead retailers pay at large malls is passed on to the consumer in the form of inflated prices for the same goods you can get online in the comfort of your pajamas.
If you have tried everything and are still not able to save enough money to make you feel secure in the event of an emergency, call us for help. We can assist you with debt management, budgeting, and let you know if bankruptcy is right for you.
For more information about money matters, contact us at www.DsouzaLegalGroup.com. We will help by coming up with solutions that work for you.