We are all looking for ways to save money these days. In an economy that is challenging all of us to rethink the way we live, save and spend our hard earned dollars, it’s important for all of us to save money and consider our financial futures with true and clear perspective. This “Save Money Monday” post is the second in a three part series that details ways to save money.
1. Pay Off Debts
Consolidate and pay off debt as soon as possible. If you are carrying any kind of debt from say, a credit card, a line of credit, a loan, etc. focus on consolidating it to a lower interest and paying it off as soon as possible. Money paid in interest is money thrown away! Also consider speaking with a finance planner to find ways to avoid interest. Many cities offer sound advice at little to no cost to you!
2. Pay Those Monthly Bills On Time.
Pay your bills on time and avoid late fees Have a plan for getting organized about those monthly/regular bills. If possible, automate the payments. Most utilities and other recurring bills can be set to be charged to a credit card or deducted from a checking account these days. You may also want to check to see if your bank offers free bill pay programs. If you do forget a bill, if you are a first time offender, call the company and request politely to waive the late fees, and more likely than not, they will oblige.
3. Price Check Before Buying That Expensive Item
For some items that are expensive, do a price check before buying the item. Try to wait for a while you can track the prices and grab a great deal when it comes along. Check and see if you can find online coupons and make it even more easy to save some money. Also, you may want to check other websites such as Craigslist. Some of the items for sale there are top quality and folks just need cash. Bring a friend with you to check out the item and talk to the previous owner about what features the item has. Sometimes you can really save a lot of money on the expensive things by simply waiting and shopping around.
4.Skip the Impulse Buying
Make it a habit to avoid impulse buying. Many of the things you want right then and there are not really necessary, if you only you wait for a day or two. Also, if you wait to purchase that item, you will be able to check prices and make an informed decision to buy it at the best possible price.
5. Watch Your Electricity Use in the Home
Regulate your electric use and when you are not using them, unplug electric appliances. Apparently, unplugging the TV instead of just switching it off can save a lot of electricity too! When not in a room, switch off the lights and the fan. Consider a programmable thermostat to control your A/C and heater usage. Make sure to turn off your computer when it is not in use and if it is Christmas time and you decide to have Christmas lights on in the house, consider coming up with a time that you will turn on the lights and turn them off. Perhaps leaving them on all night long is not the best option.
Need a little help? Consider visiting the “Texas Saves” website and find out ways you can save money today!