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Money Saving Tips and Tricks
Monthly savings adds up
After reading article after article, everyone always says how easy it is to make money on the Internet. First off making money is slow and tedious on the internet, meaning it really depends on the economy (And we know how that is going) and finding that niche market to sell to. People always say “Oh just start selling on eBay, set up an Amazon Store or take online surveys”. Do not get me wrong, yes you can and will make money with these. After looking for ways to pay off my debt, I have come to the realization that by doing just a few things differently, it is easier and more lucrative to save money from bills, and apply those savings to the debt. By no means am I saying give up everything, but just try to scale back a little.
One of the biggest savings I found was by dropping back and getting rid of my smart phone and data package.My average bill for the smart phone was around $128 a month.After I dropped the data package, and went to a “regular” phone my bill dropped to $53 a month!! That’s saving $75 a month, by what? Not being able to check my email or Facebook every 10 minutes.In all reality after about 2 hours of not having the smart phone I did not miss it at all and still don’t 2 years later.That’s almost $900 a year! What could you have done with an extra $900???
Another option I never really thought of was to just drop my home phone altogether. Think about it? Do you really use it? Even with just a basic phone without long distance plan, it cost about $13 bucks a month. Again that is $180 a year in savings… Even when the company tells you, oh you will lose all the “bundling savings”, this is so not true. Most times “bundling” really only saves about $10 total. (The only reason I would keep the home phone is if I had children at home, so they have access to 911.)
If you do “bundle” your TV, Phone, and Internet, one call can save you a ton. Check to see what “level” of Internet access you have. Do you really need to the top end with the highest bandwidth? Not really. I dropped down from the “super fast” cable broadband, down to the “regular” broadband, and never looked back. I never even noticed a difference when surfing, email, or chatting. By dropping down a step on the Internet package I saved another $10 a month.
Then I really had to look at myself and ask do I really watch the Movie Channels? What about the Sports Packages? The DVR? My monthly “TV entertainment” bill was around $140. With all the websites out there now, I never used my DVR anymore, and I can stay up to date with all my sports action on the Internet as well. As far as movies, did I really watch enough movies to justify the cost? Not really, especially since Redbox and Blockbuster have the kiosks everywhere, where you can get the DVD or Blu Ray for $1. I did stay with the expanded TV package; I just could not give up all my TV. After dropping the movie channels DVR and sports networks, my cable bill went down to $72, that’s almost half!!
Now thinking about just doing the things I have mentioned already, that’s a savings of $168 a month! Now how much would you need to sell on eBay? Or how many surveys would you have to fill out to get $168? With these small differences, you could apply an extra $150 a month to your debt.How much faster can you pay off your debt? With that extra $150 a month, that is equal to $1800 as an extra payment, not including the interest savings you’ll get.
Beyond the savings from above, you need to read your bills carefully.I found out after making a few month payments that my auto insurance was charging me $2 a month to send me a bill, yes they really did.I looked into how to avoid this “fee” and there were two ways, one only dropped it to a $1 fee, by getting an E-bill, but if I set up an automatic payment from either my bank account or a credit card, there would be no fee at all.Well there was a no brainer, it took less than 10 minutes to set up the automatic payment from my account, and now I save the $2 fee, and using a check and a stamp.So right there between the fee and stamp is $30 a year.
Hope these tips help you save money and pay off your debt, save for college or that new car. I will try to write another article to continue on ways to save. Keep reading Desert Armor.