"83 Little Known Secrets To Saving Money
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Welcome To Day 2
11.
Coupons
Okay,
maybe you used to laugh as you watched people pull out their coupons at
stores but the truth is that using coupons can save you hundreds of
dollars every year. Coupons
can be used at grocery stores, retail chains, any store where the item
is sold. Some stores offer double coupon days, which is an extra
bonus. On average, you
could easily save from 5% to 15% on a bill for $100 simply by presenting
a coupon. Coupons are not
just for food items and by scouring your local newspaper you can find
coupons for all sorts of merchandise. 12.
Credit
Cards
Use
credit cards only for emergency. Although
convenient, credit cards are dangerous and damaging.
In addition, if you have a credit card that has a $1,000 balance
and you pay only the minimum payment each month, it will take you
between 20 and 30 years to pay off that $1,000 balance since the
majority of money is going strictly toward the interest and not the
principal amount. 13.
Mortgage
Payment
Paying
one additional mortgage payment each year, whether in a lump sum or
monthly increments, can lower a 30-year loan down to 18 years.
If you pay more than one extra payment, the number of years will
decrease even more. Since
this additional payment will be applied only to the principal and not
the interest, you end up saving thousands and thousands of dollars once
the home is paid off. 14.
Credit
Card Interest
If
you have credit cards and your credit is in good standing, call your
credit card company, and ask for your interest rate to be lowered.
It is truly that simple. Unfortunately,
most people do not even realize this is an option so they never make the
call. Just tell the
representative that you want a better rate on your credit card and they
will take care of your request. 15.
Patience
Be
patient when it comes to saving. This
means that you need to accept that it will take time to save and good
planning. Be patient and
remember that just because you want something, do not rush to buy just
to satisfy your urge. Instead,
wait for sales in order to get the best price, which in turn will save
you money. 16.
Financial
Consulting
Many
financial companies and even churches offer outstanding classes on how
to manage money. While some
of these programs are free, others may have a nominal fee of around $35
to attend but the money is well spent.
Another great option is consumer-counseling services.
This is a great option for people in over their head with debt. The counselors will work directly with your creditors to
lower your balances, interest rate, and establish workable payments that
you can afford. 17.
Break
old Habits
Take
time to learn the various things that “trigger” your spending.
When you are depressed, lonely, sad, anxious, excited, whatever
it may be, do you spend more? Once
you can identify these triggers then you can learn how to control them.
As an example, if you were just laid off from your job, although
money is tight, you may have an overwhelming “need” to spend money.
Perhaps you notice that when you are bored, you head for the
shops. Knowing what affects
you will help you to discipline yourself to find other ways of comfort. 18.
Avoid
Temptations
If
you have a particular weakness, stay away from it.
If you love to gamble, stay out of the casinos.
If you have a weakness for shoes, drive past your favorite shoe
store. While avoiding
temptation is hard, it is also necessary in order to save money.
When you want to give into your temptation, this is the time to
use your “allowance”. 19.
The
Right Time to Shop
Studies
have proven that when shopping while hungry, depressed, tired, and
stressed, you buy more. Before
you head to the grocery store, eat something.
If you are upset or feeling a little blue, calm yourself down or
wait until you feel better before you head out to shop.
As funny as it may sound, having a clear mind is important when
it comes to shopping and spending money.
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