This is a collaborative post
We all want to save money. After all, why spend money that you don’t need to. It could be spent on something more fun, rewarding or enjoyable! But how can you go about saving money on a day to day basis? Here are a few suggestions to help you along the way!
Saving On Debt
Let’s start with a rather obscure area that many people ignore. If you have debt, you’ll find that a fair amount of your disposable income gets spent on debt related costs. Now, you can’t necessarily cut the cost of your debt itself. But you can cut costs when it comes to interest charges, fees and fines. Here are a few suggestions that can help with this!
Reducing Interest Rates
Interest rates can add a significant amount to the overall sum you pay back to lenders. Now, you may feel that you’re tied into a given interest rate once you’ve taken it on. But there are ways to reduce this. If you have credit cards, you can make a balance transfer to a lender who is offering you a better interest rate. In fact, many lenders will offer you a zero percent interest rate for a fixed term in return for switching to them! If you have a loan with a bad interest rate, you can take out a different loan with a better interest rate to clear the initial one.
Avoiding Fees and Fines
If you regularly miss bill payments or repayments, chances are it’s because you forget that these payments are due. To avoid the fines and fees that result from this you can do two different things. If you miss the payments because you have too many debts to pay and lose track of them, take out a debt consolidation loan. This will essentially mean you only have one payment to remember. If you are missing payments because you simply forget to pay, you could set up a direct debit to go straight out of your bank account.
Getting Rid of Your Debt
If you’re really struggling to overcome your debt, there are irs debt relief services and other debt relief services out there that can help to relieve you of your debt. This can eliminate chunks of your debt or all of your debt and stop this being a worry.
Saving On Bills
The first area where you can really save is bills. Now, your bills are likely to be essential purchases, so can’t be completely cut out. But there are ways to reduce the costs associated with them. Here are a few suggestions that could help you to achieve this!
Use Price Comparison Sites
Price comparison sites are a saviour when it comes to cutting costs on your bills. Different suppliers for things like gas, electricity, internet services and more will charge different sums of money for the exact same service or product. So, you’re going to want to get the best deal out there. In the past, this would have involved ringing every single provider and noting down their policy prices or package prices. But nowadays, you can simply input what you want into a price comparison site and they’ll draw up all results side by side for easy comparison. You can rank these in order of cost and opt for the lowest cost option and best deal. This will save you a lot over the months!
Don’t Be Afraid to Switch
Don’t be afraid to switch your provider. Staying loyal to the same service doesn’t always benefit you. Instead, you could find that you’re paying much more than you really need to. Browse the market and take the best deal possible. If you really are set on staying with your provider, ring them up and see if they will match the price of another company to keep your custom.
Saving While Shopping
There are plenty of ways to save money while you’re shopping. This means getting the goods you want but at a lower price. Here are just a few things you can do to bag a bargain!
Use Voucher Codes and Coupons
A great way to save money no matter what you’re planning on buying is using vouchers and coupons. There are whole programmes on extreme couponing on the television, where people keep files upon files of coupons and use them all in one in-store purchase. Sometimes they manage to get the items for free. Sometimes the shop even gives them money! Now, not all of us are going to dedicate this time and effort to couponing. But it is a good idea to keep an eye out for coupons or do a quick search for coupons before buying anything. You’d be surprised what deals you can find. There are plenty of online voucher codes which are particularly useful and can be entered at the check out. Browse through voucher code sites, find coupons for the retailer you want to shop with and see if the coupons work. It’s definitely worth the effort!
Sign Up to Mailing Lists
If you are shopping online, make sure to check whether you get a discount for signing up to the brand’s mailing list before checking out. Put simply, stores want you on their mailing list so that they can keep in touch with you and entice you into making future purchases. To encourage you to sign up, they’ll often reward you. The most common rewards tend to be 10% off your first purchase or free shipping on your first purchase.
Use Student Discount
If you’re a student, make sure to check whether the store you’re shopping with offers student discounts and to use your student discount if they do. This can give you a significant saving. All you have to do is verify your student status and add your discount code to the checkout process.
These may seem like a lot of steps to take on. But when you get into a routine with them, they’ll become a habit. Hopefully, a few will help you out at some point or another!