| I am looking for some easy ways to save money for the future |
|
|
|
|
|
adityaroy
Contributing Member
Cash: $ 7.85
Posts: 32
Joined: 04 Jan 2018
|
| I am looking for some easy ways to save money for the future |
 |
|
I am looking for some easy ways to save money for the future and in case something happens to me. What is the easiest option for this?
|
Wed Jan 24, 2018 9:12 am |
|
|
alexfisher50
Member
Cash: $ 2.65
Posts: 13
Joined: 25 Jan 2018
Location: USA
|
|
|
|
Don’t pay banking fees
Most bank accounts offer some way to get around the monthly maintenance fees and offer several services, including online bill pay and automatic savings deposits. Often waiving these fees is as simple as doing a certain number of transactions or receiving a certain amount of money in direct deposits each month. Call your bank or read through their website and figure out how you can get free access to banking services.
Make savings automatic
Almost all banks also let you set up automatic savings deposits using their online banking services. You can set your account up to transfer money every time you receive a paycheck. Even if you only start with $20 or $40 from every paycheck, this is a significant amount of money.
Use rewards credit cards wisely
There are dozens of rewards credit cards which offer you different ways to save money. Many cards even offer cash back programs now, giving you between 1% and 5% cash back on all of your purchases. Find a card that suits your spending habits, make sure you pay off the balance in full every month, and save up those rewards until you can get yourself something truly fantastic.
Track everything
This is one of the most effective money saving tips. Keeping yourself accountable is often all you need to do to change your spending habits. When we honestly track how much we’re spending on frivolous things we realize how much we could be saving. So track all of your spending for at least a month. Once you’ve figured out where all your money is going you can make a conscious decision to stop spending money on certain luxuries — and decide which ones really do matter to you.
Transfer your debt to save on interest
Do you have high-interest credit card debt weighing you down? Is your credit score high? If you answered yes to both of those questions it’s time to get a credit card with a balance transfer offer. These cards let you transfer debt from other cards and go for 6-24 months without paying a dime of interest on the old debt. This is a great way to speed up how quickly you pay your debts.
Re-evaluate your bills
Most of us are willing to search for a good deal when we first set up a service for ourselves or our home, but the vast majority of people set it and forget it. If it’s been a few years since you’ve negotiated your bills there’s a good chance you can save money somewhere. This is particularly true with car insurance. If you’ve been a consistently good driver and you haven’t renegotiated your rate in a few years you may be able to save hundreds of dollars every single month by making a couple phone calls.
Research major purchases
The internet is your friend. You can find extensive reviews and comparisons of any product you can imagine, especially larger items. There are also many websites where you can find excellent deals on major purchases. Be willing to spend a few days researching every major purchase and you’ll be able to save a significant amount of money on all your large items. This is especially true for computers and other tech items.
Get high-quality products
Getting a replacement is almost always more expensive than having to repair something, and you want items that are going to last at least a few years. This is especially true for those big ticket items mentioned in #7 — those items may have insurance but dealing with claims is extremely frustrating and you don’t want to risk a machine breaking as soon as the warranty expires.
Get a warehouse club membership
A membership at a warehouse club like Costco can save you hundreds of dollars a year, especially if you have a large family. Costco memberships cost around $50 per year and other warehouse club memberships are usually around the same price.
Find free ways to enjoy yourself
Figure out where the biggest parks are in your city and commit to exploring one every weekend of the summer. Borrow books, comics and movies from the library. Dig out your old deck of playing cards and learn some new games. If you’re willing to creative you’re sure to find something fun to do without spending a single dollar.
Learn how to do simple repairs yourself
Spend a few hours on Youtube studying tutorials of how to do simple repairs on your house and car yourself. Even learning how to do basic repairs can save you hundreds of dollars when something breaks down.
Make some extra money
Depending on your skillset and how many commitments you already have taking up your time this may be the easiest item on the list or it may be the most difficult. There are dozens of ways you can make money on the side, from odd jobs to selling your creative work to starting a consulting business. Take some time to list all of your skills and all the potential ways you can use them to make money. You may not want to do any of them, but you may be pleasantly surprised at what you think up.
FINAL ADVICE
Saving more money is all about being fully aware of your finances and having a plan. The sooner you start following these money saving tips, the more you’ll be able to save.
|
|
Thu Jan 25, 2018 8:38 pm |
|
|
MrNewEngland
Full Member
Cash: $ 20.85
Posts: 98
Joined: 04 Nov 2009
Location: The QC
|
I wouldn't save for furniture if you're buying new. Most stores offer 0% financing, I would take advantage of that.
|
|
Wed Feb 28, 2018 4:06 pm |
|
|
|
