Life seems to just get more and more expensive and with the cost of living increasing all the time, it is best to be as savvy as possible and see where you can cut costs. Although sometimes it won’t make all the problems go away, it can certainly help. You can look to save money through bills, debt management, food and even look to get manufactured homes rather than renting as you could pay less out a month and can do it even if you have bad credit.
If You Have A Credit Card Debt, Don’t Pay Interest On It
Make a plan to pay off your credit card debt if you have one. If you don’t have a handy lump sum to magically disappear the debt, you can get the same result by switching the debt to a 0% balance credit card to avoid paying interest for a specified period of time (up to 30 months) and paying off a set amount every month.
Some credit cards have a minor balance transfer fee, so do the math. To prevent skipping minimum payments and being slapped with exorbitant fees, set up a direct debit. If you still owe money after the 0% period has ended, consider switching to a different loan.
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Look At Reducing Normal Monthly Costs
Each month, we pay our bills and don’t always think about what is actually going out. When people move suppliers or sign up for a new company, there is normally an introductory rate or a period where you get a discount. Then once this is over you are charged at a higher rate. This can all add up and you can spend a lot more a month just because you aren’t keeping on top of these things. Set some time aside each month to assess what you are paying and if there is a way to reduce it. You can see if you can get a cheaper rate on energy with a different provider, pay less on your auto insurance when it is up for renewal and even cancel things you no longer need or use like magazine subscriptions or streaming services.
Save Money With Meal Planning And Using Leftovers
Meal planning is not only necessary for saving money on food, but it also saves time and keeps you healthy. You’ll also eat better and always have an answer to the dreaded “what’s for dinner?” question. It undoubtedly helps you save money on food by preventing you from purchasing needless foods, but it also helps you avoid going to the supermarket during the week. When you plan meals around the food you currently have in the freezer, fridge, and pantry, you’ll have fewer items on your shopping list and waste less food. You may plan how to use leftovers and make sure you use up all of the produce and other perishables that could otherwise go to waste.
These are some great ways to get you started on reducing costs and helping save money for a rainy day.
Photo by Ella Olsson