Saving money is difficult with all of the social pressures pushing you to spend, spend, spend. From online deals to ads on the TV, your self control gets tested everyday. The following article contains personal finance tips that can make it easier for you to save money.
You can better understand where your money goes when you write down how much you spend every day. If you put it away then you may completely forget about it. Rather than a notebook, try using a whiteboard that is set up in a room of the house that you spend a lot of time in. Seeing this multiple times a day can help keep it fresh in your mind.
Get CFLs bulbs instead of regular ones. Replacing these bulbs can lower your electric bill and help the environment. CFL bulbs typically last longer than regular light bulbs. You’ll buy fewer bulbs, and that means spending less money.
Eating out less often can save money. Saving money is easier when the ingredients are bought and cooked at home; there is also appreciation for effort taken to create a home-cooked meal.
Frequent flier programs are advantageous to anyone who travels by air often. Credit card providers give out rewards for purchases that you make. Miles can add up quickly and then be redeemed at hotels for discounted rates, or even free rooms.
Take advantage of automated online alerts that your bank can offer you. Most banks will let you know about important activity on your account via text or email. Banks will send out warnings for a low account balance or an unusual transaction, for instance. Alerts help prevent fraud.
Try cutting costs of your Christmas bills by making presents where they fit in. This can lower your visits to stores and save you hundreds during the holidays. Creativity is a powerful source of saving.
Be sure to pay your utility bills before they are overdue. Paying them late can damage your credit rating. Also, other places could charge you with late fees that could cost you a lot of money. It is not worth the aggravation when you pay late, so if you can, always pay the bills on time.
If an item that is too expensive benefits the whole family, then it is a good idea to try and get the money together as a team effort. If the item could benefit multiple people at once, such as a game console or stereo, they might be able to buy it with the help of other family members.
Older computers can be sold for cash if some spending money is needed to fill a gap. As long is the laptop is running, it can be sold for a nice chunk of change. Even an un-repairable laptop is likely worth enough money to fill up a car’s gas tank if one finds the right place to sell it.
If you can set it up, have your debit card make automatic payments to your credit card near the end of every month. You can avoid late fees and penalties by ensuring the bill is paid on time.
Credit Card
To ensure timely credit card payments set up an automatic monthly bill pay through your bank. Even if your credit card balances have to be carried over monthly, making the minimum payments before the due dates gives your credit report positive data. Using automatic payments will prevent you from forgetting to make a payment, and it’s always possible to pay some more if you have the money.
During the years, financial problems might arise even when you plan carefully. It’s good practice to be aware of the grace period, as well as the late payment fees for your rent. Be aware of the terms prior to signing a one year lease.
Try to avoid making common mistakes related to your personal finances. You might be able to get the fee for bouncing a check waived. Of course, this is a one-time thing that banks offer only to those who maintain a positive balance and manages their account effectively.
Overdraft Protection
If you often find yourself barely making it from one paycheck to the next, you might be better served by signing up for overdraft protection from your bank or credit union. An overdraft protection plan may charge a small fee, but considering that overdraft fees can cost you upwards of twenty dollars each, it is well worth the security.
Just as you know, saving money is not always easy. It’s difficult to save and impossible not to spend. Apply what you’ve learned from the article above, and start saving money that will make a difference in your quality of life.