4 Ways To Save Money that You Might Not Have Thought Of…

The economy has been in a tailspin these last couple of years, and many people are finding themselves either unemployed or underemployed.  We all need to make sacrifices at times in order to make ends meet – but sometimes it can be hard to come up with new ways to save. Here are a few suggestions to get you started.

4 Easy Ways To Save Money

  1. Cancel subscription services and use a cheaper alternative:   Are you paying $15 a month to pay for a subscription movie rental service like Netflix – but only rarely watch movies?  Cancel the subscription and use a cheaper alternative like the Redbox movie rental kiosks.  Paying for several magazine subscriptions?  Read the magazines at your local library or have a magazine swap friends – past issues of magazine are still fun to read and have great advice.
  2. Realize that you don’t need to buy new:  When buying things that you need, realize that you don’t always need to buy those things new when used can be bought for a much smaller price. Save$5-6 grand by buying a used car, or save hundreds by buying a used version of last year’s model of digital camera.    Buy used clothing, books, electronics or other high ticket purchases.
  3. Sleep on it: A lot of people like to buy things on impulse and as a result they overspend on things they really don’t need. Give yourself a waiting period for purchases over a certain dollar amount, and quite often you’ll realize while you’re waiting, that you don’t want or need the item.  My waiting period?  At least 24 hours, but often times a week to a month…  it depends on the cost of the item.
  4. Shop for better rates on insurance:  A place that many of people overpay is when it comes to insurance.  Take a day and shop your homeowners, auto, health, life and other insurance coverage to see if you can find  better rates. You might be able to save up to $1,000 per year. Also looking into bundling your coverage with one carrier. One friend of mine saved a bundle when he brought all of his insurance under one roof.

Get creative, don’t accept the status-quo, and look for savings in places you maybe did not even think to look before.