Four Strategies for Saving Money

When you stop and think about it, there are quite a few money-saving opportunities out there that you may not be taking advantage of.

Here are a few ideas worth considering:

  • Automobile Insurance: If you haven’t touched base with your insurance agent in a few years, it might pay to call or email them to review your policy. Until you ask, you never know what kind of insurance discounts you may be eligible for. For example, savings can often be obtained by taking a defensive drivers’ course, purchasing your automobile and homeowners’ insurance from one agency, commuting a shorter distance to work or telecommuting, or simply having a safe driving record. In some cases, you could save a chunk of money by shopping around and switching to a less expensive insurance provider.
  • Cell phone services: Make sure the cell phone service plan you have is competitive and geared to your needs and data usage patterns. With at least four major service providers to choose from (Sprint, AT&T, Verizon, and T-Mobile), it make sense to do some comparative research to make informed choices regarding prices, features, time commitments, and services. Checking out online reviews and comparing notes with friends, family, and coworkers about cell phone services can also help you save money.
  • Credit cards: If you’re like many people, you probably get inundated with credit card offers, every week. Since it’s such a competitive industry, some credit card offers are clearly better than others. While the most prudent approach is to limit your credit card use as much as possible, it also makes sense to seek out the best deals, the lowest interest rates, and the most favorable terms. Assuming your credit card payments are up to date and you’ve maintained a good credit history, it’s often possible to negotiate a lower interest rate on your current credit cards, too. That alone could make it easier to pay off your balance and save money.
  • Contractors: Whether you’re considering remodeling your bathroom, replacing your roof, updating your kitchen, painting or re-siding your house, waterproofing your basement, or building a backyard deck, prices can vary widely from one contractor to the next. While it’s important to hire a contractor who’s experienced, honest, insured, easy to work with, and dependable, there’s no reason to pay exorbitant prices for good quality work. Getting at least three price estimates on projects around the house is generally a good way to ensure you’re not getting overcharged. Online reviews and personal recommendations from relatives, friends, and neighbors can often point you in the direction of a good residential contractor.

One of the most important principles of smart money management is to make sure you’re getting the most value for your dollar. As a consumer, you entitled to shop around, get the best deal, and be satisfied with the quality of products and services you’re purchasing.

Saving Online and Out to Eat

Everyone knows about coupons for everyday products we buy but did you know there are ways to save at places like the home improvement store, clothing stores and restaurants? Beyond the sales and promotions that these places have from time to time, there are websites that have extra savings waiting for you!

Many of the couponing websites have daily or weekly emails you can subscribe to that have links of the best deals on the web. From coupons to restaurants, to online offers at places like Shutterfly, there is always something waiting for you to save on. Two great emails with valuable resources are the ones from www.couponmom.com and www.coupondivas.com. Check them out!

There are variety of websites out there that can help you save on the web. www.slickdeals.net has any item you can imagine for some great prices; www.nomorerack.com has everything from clothing to jewelry to home furnishings, all at insane prices; and www.shopathome.com has coupon codes you can use for online shopping to save just like you had a coupon in store.

One of the best ways to get emails full of savings is to sign up with your favorite store’s website. You will not only be notified with the latest sale, but you will get exclusive coupon savings. Even some places, like Target, have weekly texts with coupons you can use on a variety of items, as well as coupons you can print from their website.

Finally, using your reward points from those credits cards can help cut down on costs as well. Since most awards you get get with your points take tens of thousands of points, why not redeem your points for a gift card instead? They usually start out at 2,000 points and can help you cut the cost of that new sweater or Saturday night date night.

Paying full price on purchases is not a necessity. No matter that your favorite store is, or how you like to shop, with all the options out there to save, what are you waiting for?!