There are a couple of basic ways to have more money – earning more and spending less. Both involve time and effort, but there are a few simple things that you can do to make sure that you are spending as little as possible on certain items. If you go through this list and check off an item or two each week, in a few weeks you will have started the New Year with the knowledge that you are not overpaying for a few different things.
One thing that you can do is to make sure that you are not overpaying for the services that your family uses. Make a list of all of the services that you pay for such as homeowner’s insurance, car insurance, phone, internet, cable, and the like. Each week, choose one of these services and do a little research to see what other providers provide that service in your area and get a couple of quotes. If you find a better deal, ask your current provider to match or beat it or make the switch to a new provider. Service providers change their pricing and offerings fairly frequently, so performing an annual price check on these items helps you to keep your costs as low as you can without driving yourself crazy trying to compare prices every month or two.
If you pay a mortgage, refinance rates are still rather attractive. You may want to spend a little time searching around to see whether there is a refinance option available that will fit your family’s needs better than your current mortgage. Refinancing your home does take a considerable amount of time and effort, but you do find a refinancing option that will work for you, you could save hundreds of dollars each month for your efforts.
Sometimes, a new car seems like a great idea. However, after a few months or a year you may find that the payment on that new car is not as easy to squeeze into your budget as you had thought it would be when you bought it. If you are feeling the pinch, it may be a good idea to check the trade on value on your car and compare pricing and payments on other new and used cars that you like. You may be surprised by how a car that you did not find appealing when you were looking to buy a new car looks a whole lot better now that it would cost you much less per month to own than the one that you bought.
One more thing that you can do to keep as much of your money as possible is to check your credit card interest rates. If you have been doing a good job paying on time and/or paying down your balance, it never hurts to call your card companies to ask whether they can lower your interest rates. The worst that can happen is that they say “no”. If that happens, you could also compare credit card offers online or open a few that come in the mail to see whether it is time to get a new card or close an account or two to pare down your current selection.
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