16 ways to save some additional money

How can I save more money? Apart from the obvious – buy less, do not exceed your credit card’s limit – you can make some small changes which will bring you quite a good profit. There are things we pay for too much and we are totally unaware of it. We have some suggestions you may find useful.

  • Avoid credit cards if your strong will is too weak. Spending more than you can pay
    for will cost you a lot of unnecessary money.
  • Have you known that there are reward cards without annual fees? By using such a card you may receive additional cash or points which can be exchanged for some products or travel.
  • There are free checking account plans so what is the point of paying bank’s checking
    account fees?
  • Take care of your credit score. This will save you lots of money. Check it for free and then work on making it continuously higher.
  • Why don’t you ask for a reduction of the interest rate on your home equity loan or credit cards? If you are lucky, you can get some additional savings thanks to it.
  • Consider refinancing your mortgage. Do it especially when your credit score has improved and you may receive a better rate. Are you paying Private Mortgage Insurance? You should try to remove it.

  • You may be surprised, but you can spend as little as $5 for your healthy and nutritious meal. Reduce the cost of your food – especially if you frequently eat out.
  • Maybe you have not known that you can earn money while spending it online. Check out Ebates and Swagbucks.
  • Start using some of the free online budget tools. It can help you budget more effectively and…with less pain.
  • Look for better offers from the internet providers. And by the way, if you actually do not need the full option with the highest speed possible, why to overpay?
  • To put some money aside, you can buy your new cell phone from Amazon or even consider buying a refurbished device. And if you have both a cell phone and a landline, maybe it would be a good idea to get rid of the landline?
  • The next thing you should look at closer is your trash service. There can be many competing offers which gives you a chance to get a discount from your service or find a cheaper one.
  • Gas water heaters are much more efficient so it would be a good idea to have one if you need to save.
  • Turn your attention to the local library. Instead of spending money on new books or magazines which will be covered with dust soon after you have read them, you can borrow them for free. The same situation concerns DVDs. If your library does not have DVDs, another good place is Red Box. And still there are online sources –often for free.
  • Another option helping reduce costs – for those who must have their own new magazines every month – is subscription.
  • If you are going to buy a new car start with searching the internet. There can be offers much more profitable than the local ones and it still can be worth delivery even from another state.

There are some details which cost us a little separately, but when added together they turn out to be really expensive. If you need to save money and you are not going to receive a payrise soon, have it in mind and save as much as you can for now.

You want to save more effectively? Create a good savings plan!

When your life situation is more or less settled, the ratio of your monthly income and spending is quite predictable and you start thinking that it is high time for you to save some money for the future, you should prepare a strategy so as to save effectively. The earlier, the better so do not hesitate thinking that saving money will take away many good things from your daily life. Saving can be much less painful when you have a certain plan and you are aware of the goals and sense of what you are doing. Read our saving suggestions and gather funds for your better future.

Go online

Thanks to the Internet many things have become much easier, saving money, too. Visit some useful websites (Mint.com, GoSimplifi.com) and create an online plan for your savings, set goals and monitor the process from your couch. It is a very helpful device which makes saving process more visible and organized.

Change your point of view

If you think of saving as a loss, it cannot bring much success. Losing everyday pleasures, like eating out in fancy restaurants instead of preparing lunch at home or cutting down on snacks, takeaway coffee etc., will result in other, but long-term, pleasures. It is just a way of gaining money for making your dreams come true. You have always wanted to visit some places abroad or buy a summer house? In fact, you are exchanging one thing to another. Instead of coffee, you will have your great trip or the house. See the goal in your mind and the process of saving will be much easier.

Realize what is your goal

You must know what you want to achieve. As it has been already said, visualizing your dreams come true will give you a great amount of motivation to set money aside instead of spending it. Keep your goal in mind every time you want to buy the next unnecessary thing – it should help make the right decision.

Higher earnings? Higher savings!

If you get a pay rise…that is great! Celebrate and then think: does it mean that you can spend more again? If you have proven that you are able to live spending less money, why don’t you continue and just save even more? Consider transferring this additional money to your investment account automatically – you will avoid the temptation to spend it.

Compound interest

When you lose your enthusiasm see how your money multiplies. Compound interest is just interest on interest, the amount of money you have invested continue growing when it is reinvested instead of being paid out. Watch the process, calculate how much you will earn in the end and keep your motivation on a right level.

You deserve rewards!

Remember about celebrating some success from time to time. You should buy something for yourself, do a thing you miss because of saving and then continue working on the next goal. Rewards help you survive and, what is even more important, keep you motivated.

Simple tack which can help you save more money

Starting a new year, many of us think about our financial situation. We almost always want more, no matter how rich we are. Nonetheless, not so many of us are so rich that would not need to save some money in order to, for example, go on vacation in summer. Surprisingly, we have more options than asking for a pay raise if we want to increase our savings. There are behaviors in our lives that cost us unnecessary money. By eliminating them we are really able to finally put more into our piggy-bank. Read what you can do to improve your financial situation this year.

Know what you aim at

First of all, you should set a goal. It is a cliché, yet still not everyone appreciates its positive impact on your final achievement. Think what you need the money for, calculate how much it will demand and believe you can complete the task.

Analyse your behavior

Start with taking a good look at your everyday actions and decide which of them cost you the most. Next, think without which products that are bought on a daily basis you can make do or which can be replaced by free substitutes (coffee, sweets?).

Do not forget about subscriptions

Remember that even small numbers sum up to the big ones. ALMOST free subscriptions and things like delivery payments for shops are very often unnecessary costs. And in order to save money, you should consider getting rid of such additional spending.

Work on your discipline

This tip will probably involve the biggest amount of your effort. Be strong-willed and stop taking your credit card everywhere, so as to avoid temptations to buy the next unnecessary item. Do not go shopping on an empty stomach, as it is proven that hungry people buy more than they have planned. Stick to your list of basic products needed for you to survive and exercise your willpower.

Deceive your extravagance

If you are a “compulsive shopper” maybe you should think of making your savings automatic. By the means of automatic transfers you would avoid the pain caused by inability to spend the money you have just received. Out of sight, out of mind.

Find time to work on additional money

If you are really determined, the best way to increase your savings is to make some time in your week to work. Even a few hours of additional “job” will turn out to be fruitful at the end of year. Earning $400 for a month will give you $4,800 in a year. That’s quite a good deal.

Strategy for a pay rise

Finally, it is obvious that higher salary would easily help solve your financial problems, but despite of the fact that any pay rise must remain in your dreams for now, nobody says that you will be earning the money you earn now forever. You should always aim higher and you need a plan here. Talk to your supervisor and find out what you should do to receive a better salary. Then, gradually work on being a good candidate for a rise.