How about doing the simple things like turning up the thermostat in the summer and down in the winter to save on heating and cooling costs? Shutting down the computer when not in use? Turning off the lights when you leave the room?
Mortgage. Are mortgage rates so favorable right now that you could refinance and get a lower payment? How about getting rid of PMI (mortgage insurance)? Mortgage insurance is very expensive, but you can usually stop paying it once you have 20% equity in your home. If the value of your home has increased, contact your bank to learn how to stop paying this insurance.
Lower your long-distance bill. Examine your phone bills to see what you’re paying for local, long-distance and wireless service. There are so many choices now to choose from, you are bound to find a better deal. Also, many people are choosing to use their cell phone free long distance minutes rather than the more expensive land-line calls.
Coupons. We all hate ‘em, but they do help to save you money. Do a little homework: can cutting coupons make a difference in your grocery bills?
Use your local library. Do you really need things like cable TV? How about borrowing movies from the library rather than renting them. And while we’re talking about the library, how about borrowing books rather than buying them? I’ve also heard many libraries have computer games for rent as well. Most libraries allow free use of the Internet as well, so you can think about canceling your internet access account.
Cut down on the use of your car. The expenses here are not just gas, but the wear and tear on your car. Can you use public transportation, walk or bike to work, carpool? Not only are these great ways to save money, but you’ll have a better social life and be in better physical shape to boot?
Pack Your Lunch. Most people spend $5 - $9 each time they go out to lunch while at work. Most packed lunches of an apple, cookies or chips and a sandwich cost about $2 to make. Many micro-wavable lunches cost $1.50 - $2.50. You do the math.
Convenience foods are expensive. Have you heard the one about the frozen peanut butter and jelly sandwiches or the frozen micro-wavable baked potatoes? It’s not a rumor. A little extra effort in the kitchen can save you large dollars.
Avoid buying coffee in coffee houses. If you stop for coffee each morning on your way to work you’re probably spending between $1 and $3. Bringing a thermos of coffee from home to work could save you $5 to $15 per week.
Free Checking. Another no-brainer way to pare expenses is by finding a checking account that’s right for you. Don’t let bank fees steal your money. Many programs offer reduced or no fees if you keep an account balance above a certain limit.
Avoid recreational shopping For some people shopping at the mall is a way to unwind and relax. However, this can get very expensive if you’re buying things you don’t need. Find another outlet for yourself or cut down on trips to the mall.
Pay your bills on time to save on fees and penalties. Credit card companies charge errant customers hefty fees for minor infractions. Pay your bill a day late and you could get slapped with a $29 fee. If the fee pushes you over your credit limit, bang, another $29 can hit your account. That’s $58, for nada.
For other tips on saving money, use the http://www.stretcher.com website.
