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No matter how much you make, anyone can benefit from saving money. In order to secure basic necessities as well as dream vacations, cars and more, you have to find ways to save money elsewhere. It isn’t always easy, but it’s definitely do-able. Here are the top five ways to save money:
Doing more walking can save you a ton of money. If you live in a big city, walking saves you subway or taxi fare, and if you live in an area without public transportation it saves you money on gas. If you can walk to work, to the store or other places without getting overly tired, do it. Not only does it save you money on transportation costs, but walking can help reduce the risk of serious health problems — and big medical bills.
If you’re a fan of eating out, cut back. Eating at home is often much cheaper than eating out, especially if you make enough food to last you for several days. Although it may seem more expensive or time consuming to cook, if you make one or two meals and then eat leftovers throughout the week, you will save a signifcant amount. Plus many grocery stores offer shopper loyalty programs, which can save you even more.
Auto insurance often seems like an unchangeable expense; by law you have to have insurance, and if you’ve cut back to the minimum allowed coverage there doesn’t seem to be much you can do to save extra money on insurance. However, did you know that many auto insurers offer discounts for various reasons? There are good driver and good student discounts, discounts for being members of certain professions or discounts for belonging to certain professional organizations. The exact discounts vary from insurer to insurer, so be sure to ask your insurer what discount programs are available and how to apply for them. You might be able to save significantly on your car insurance if you take advantage of discounts.
Your car insurance rate is also partly based on your credit score, so raising your credit score can help you save money on your car insurance bills. You can try to make fixes to your credit report yourself or you can hire a credit repair company to help you with the process.
Most people don’t want to do without cable television — sure, you can decide not to watch TV at all or only watch what you can get online, but if you’re a fan of certain shows, being behind the times just won’t do. Similarly, most people can’t live without internet because they use it for work, keeping in touch with family and playing games with friends. These services are expensive, however, especially if you also pay for landline service so that you will have phone access even if a storm knocks out cell signals. The easiest way to save is to bundle all three of these services together — you can save significantly by paying one flat fee for all three services (TV, internet and phone) rather than paying for each service separately.
Subscribing to magazines and DVD services is often a waste of money. Many people read one or two articles in a magazine or let the magazine sit unopened until they get around to throwing it away. Similarly, people often keep DVDs from subscription services like Netflix for months at a time while paying the monthly service fee. If you want to save money, get rid of these subscriptions. Cancel them and send back all DVDs or other property belonging to the service, then visit your public library if you want a magazine or DVD. You can get both for free at the library. Canceling magazine subscriptions may also entitle you to a refund check, which can come in handy if you are struggling financially right now.
Taking these simple steps can save you big in the long run. Happy saving!