Life would be so much better if we could just save a little bit of money, wouldn’t it? But how are you supposed to save more when you already feel like you’re strapped to the max, and are already working so hard to save those few pennies every week? Aside from the most commonsense tips on how to save, such as bringing a bagged lunch to work and walking when you could drive, here are five of the best ways you can start saving money today. And some of them could bring you hundreds of dollars more a month!
Raising your insurance deductible
Of course your deductible is the amount you’ll pay for home or car insurance should something ever happen. The lower your deductible is, the higher the risk the insurance company is taking on by insuring you, as they will need to fork over even more money in times of accidents or damages. Simply by raising your deductible on that insurance will prove you to be a lower risk for the company, and that will come through in lower monthly rates. Raise your deductible if possible and you’ll see that over the course of a year, you will have saved thousands!
Stop buying lottery tickets
It’s hard to say you don’t have any money to save when you’re purchasing $20 a week in lottery tickets. Did you know that the chances of the lotto actually hitting your numbers are 1 in 13.9 million? Instead of giving this weekly money to the OLG, put in a savings account. You’ll get richer, even if it is at a slower pace than what winning the lottery will get you. While working at that snail’s saving pace, just keep reminding yourself that you most likely never would have won anyway.
Keep your insurance information up to date
Have you called your insurance company lately to make sure that the information they have on you is correct? If you’re no longer driving to work, you just made improvements to your home (such as a fence to keep out thieves and animals,) or you’ve been divorced and no longer need your ex-sp0use on your insurance, you could be spending money when you don’t have to. Insurance is based on your life and lifestyle. When that changes, it could also change your insurance needs and translate into more money that you could be saving.
Get out the vinegar and baking soda
Have you ever gone to the grocery store and been shocked at the sticker price for standard household cleaners? Just like everything else, these have huge markups on them and you’ll end up paying a lot just for packaging. Instead use items you’re already buying at the grocery store – baking soda and vinegar – and do your cleaning with them. They’ll still do the job you need, but will be a lot cheaper in the long run. And don’t worry, your home will still smell nice and clean as long as you dilute the vinegar first.
Get rid of your land line
Just about everyone has a cell phone these days, so why are you still hanging onto that land line? You can only chat on one phone at a time, so ditch the land line and use your cell phone only. While you’re at it, get rid of long distance altogether and use Skype or FaceTime on your cell to talk to those you wish to have an actual conversation with.
