Saving for Something Important?
There comes a time in everyone’s life when they would like to save for something important.
Perhaps you want to put money aside for a vacation. Maybe you want to get a low-cost first car for one of your children. Or maybe the family wants a big-screen, theater-style television for movies or sporting events.
What are some good ways to save a little money here and there? The ways to be frugal are out there. You just have to dig a little deeper. Here are a few tips to save a little money toward those big purchases:
Cut Out Frivolous Purchases
You would be amazed what one or two less cups of coffee each week from your local retailer might do for your wallet. Even better, make coffee in the morning and take some with you. Pack a snack to take with you in the morning instead of stopping off for an overpriced breakfast.
Do you get a copy of a certain magazine each week? Subscribe to it instead. Depending on the publication, it might be $20 for six months’ worth of issues as opposed to buying that same issue each week at the store for $2.99. If prices like that sound cheap, it is because companies are trying to lure customers to their products no matter how inexpensive it might be.
Do you eat out often? Have one or two less meals at restaurants and concentrate on other things like home-cooked meals or frozen dinners, if you are pressed for time. Also consider vouchers at Groupon, Living Social and Restaurant.com.
Cut Out Coupons
Spending an awful lot of money at the grocery store? Clipping coupons could save a ton of cash in your wallet. The Sunday newspapers usually have one or two big coupon books. If you are the type who is not brand loyal, trying different brands with coupons could lower your grocery costs by a substantial margin.
Combined with specials grocery stores offer on a weekly basis, a bill of $100 for groceries could drop to as low as $60 or $70. Put that extra money aside each week and watch the savings add up.
Cut Out Interest
Assuming you have spartan credit, with a score of 800 or higher, you may qualify for lower interest card offers, possibly even 0 interest credit cards. Your credit has to be immaculate to qualify for offers like this, but think about it: you can make a purchase and not worry about interest adding up monthly on what you bought.
If no interest cards are out of the question, search for lower-interest cards. A simple online search will draw up several card offers, each with lower percentages than you might pay ordinarily. The lower interest you pay, the more likely you are to pay off the card at a quicker pace.
If you have a card with a high limit and no interest, it may be possible to finance the big-ticket item with that card. Just be sure to make timely payments and pay more than the minimum. That will show how credit-worthy you are.
These are only a few tips to get the most bang for the buck. Be frugal, be thrifty, and the rewards will be just around the corner.
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