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Don’t you just hate reading an article, getting all excited, and then realizing it will take months for it to happen? We are an instant gratification nation. We want things now, and by now, I mean 10 minutes ago!
Great news! Saving money doesn’t have to be hard or take forever to be realized. No matter where you are on your financial journey, we all want more of our money to stay in our pockets. Use these five tips to save today, so your tomorrows will be brighter!
Cell phone carriers are constantly changing their plans and fees. Most carriers want to sign you up for their Unlimited Plan because it is typically their largest money maker. However, it doesn’t necessarily make sense for you, the consumer.
Take a look at your current bill and review all the bells and whistles. Make a note of how much talk, text, and data you have. Next, review your usage history over the last 6 months. Be sure to get familiar with how much of the plan you are actually consuming.
Armed with your usage numbers, call your existing company. See if they have any options that fit your actual needs. Let them know you are looking to lower the payments. And are even considering switching to another provider.
I find it best to physically call the carrier, rather than see what they offer on their website. Usually, web-based offers have special terms and conditions to meet to qualify.
Next, shop the competition. Call around and look online to see what deals competitors are offering. Oftentimes you will find they offer big bonuses or low monthly plans to get you to switch.
Cell phone carriers love to steal customers from their competition. Use that to your advantage when speaking with a sales associate.
After making the calls, decide which provider is giving you the lowest rate. Begin the process of switching your account over to the new company. But, don’t cancel the existing account until you have switched to the new one. If you do, you run the risk of losing your phone number.
Do you have one of those cable providers that offers 100s or 1,000s of channels? It is not humanly possible to watch them all. Also, cable is crazy-expensive. Many plans cost $250+ per month, which is over $3,000 per year!
A recent study on cordcutting.com found that the average person watches only 12 tv channels or less!
One of the easy ways to save today is to cut cable and go with a better alternative. I’m sure you are familiar with Netflix, Hulu, and other streaming services. They all provide super entertaining content for a fraction of the price.
Combine these with an HD antenna to pick up local stations. And you are on your way to saving $1,000s per year! Of course you will still need an internet service provider to keep you connected to the streaming services.
If you still aren’t convinced to cut the cord, contact your current provider. Ask about their promotions or shop their competition online to save. Quit paying for all those extras and pay for only what you use.
Have you ever received an insurance bill for a lower amount than you paid before?
Me either!
Insurance bills rarely go down. These companies are one of the guiltiest of bill creep that exist! Recently, one took the liberty of increasing my coverage and charging me an extra $500 for doing so! Ok, enough about my love for insurance companies.
Be vigilant when comparing your coverage and premiums from one statement to the next. With each renewal, I contact my agent to see if there is a way to lower the bill. Shopping for insurance is easy to do online too with sites like Insureify or Compare.com.
Are you reviewing your budget and transactions each month? To track your spending you need to know how much and on what, you are buying.
I suggest signing up for a FREE account with Personal Capital. It is easy to get started. You can link your accounts in minutes and view all your transactions in one place. They even organize your expenses into convenient spending categories!
Review each charge listed. Make a note of any company that you don’t recognize or a charge that you don’t recall making. Sometimes a simple Google search of the merchant will reveal more about the nature of a charge. If you are still unsure of any expense, contact your card issuer for additional information and help. Their number is on the back of your card.
Many companies like to offer a free trial, all you have to do is enter in your credit card information….wait what! How is it “free” if it requires your credit card information?
Subscription-based companies love this tactic. They lure you in with a freebie that requires your credit card. Then they proceed to set you up on automatic payments once the free period ends. And continue to charge your card regardless of whether or not you are using their service.
Cancel all services you aren’t currently using, even if you plan to use them again in the future. Most companies will email you discounts to re-enroll in their service when you cancel.
Did you know that Americans throw out or waste as much as 60% of the food they buy? A study on medicalnewstoday.com shows that over two-thirds of the participants had food waste estimates between 20-50%. Even the average household wasted over 30% of the food they bought!
The best way to eat the food you buy and save money on your groceries in the process is to have a plan. Each week decide on the meals you are going to make and create a list of the items that you will need for each. Before heading to the store, look in the pantry and refrigerator to see what you already have. If you have something, cross it off your list. Head to the store and the next part is key: Buy ONLY what is on your list!
When you walk through a store, all sorts of things are happening, besides you just placing one foot in front of the other. Stores are arranged in a way to appeal to your subconscious. This distracts you, getting you to spend more.
Think about milk. It is never placed right when you walk in a store, it is always in one of the back corners. Grocers do this so that you are forced to walk to the deepest nooks and crannies of the store. Their plan is to tempt you with other goods along the way. So, plan your meals and stick to your list.
These easy ways to save will certainly impact your wallet today. They will also pay you dividends in the month and years to come! However, you won’t see any of this ‘free’ money if you don’t take action now.
Which provider are you calling first? Comment below.
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