REDUCING MONTHLY EXPENSES
Being able to cuts costs on a purchase here and
there is great, however significant
savings
will be accomplished if you can reduce your monthly expenses. Give
it some thought. Cutting monthly bills is equivocal to making twelve
purchases annually at a lower price! This enables you to instantly
start focusing on using the money you are saving on paying down
debt, putting away for retirement, and increasing your
emergency
fund. There are lots of ways you can find money for savings for
an emergency fund.
Learn more.
Below are some ideas for cutting your expenses.
Using the Internet for TV
The cost for a cable or satellite provider is very
expensive with plans ranging from $50-200/month depending on how
many channels you prefer. There really is no need to pay this type
of money just so you can watch your favorite TV shows and movies.
Nowadays, the new TVs are internet ready. There are online services
like HULU that allow consumers to
watch all the most recent sitcoms and shows and even past shows as
well as new and old movies for a small monthly fee (as of 1/2012
HULU is costing $7.99/month). In addition to HULU, you can watch
past programming on almost all of the major Networks' websites.
Networks will run an entire season's worth of a show's episodes with
the exception of the most current. The most current will usually air
a week after it being 'new'. And if you are worried about not being
able to watch live sports, you don't have to! ESPN carries many
games live as does each sports' website (NHL, MLB, NFL, etc.).
Being able to save on the cost of watching
television is going to be substantial. In addition, being able to
watch your shows and movies online opens the opportunity of being
able to watch when you want!
Refinancing Your Home's Mortgage
The interest rates associated with mortgages are currently very low.
So, if you own a home, have decent credit and equity, explore your
refinancing options. If you are able to refinance where the end
result are savings, go for it! The process of
refinancing your home will take some due diligence on your part
as well as time, you may be able to save hundreds of dollars every
month.
Reducing Credit Card Debt
and/or Costs
You can utilize the money you receive from a home
mortgage refinance for
paying off credit card debt. Since interest rates associated
with credit cards are typically higher than mortgages, it will make
sense for you to pay off/down your credit card debt from your
mortgage savings.
If your credit card interest rates are resulting
in you not being able to pay down your credit cards as fast as you
would like, consider utilizing a balance transfer over to another
card...obviously one with more favorable rates and terms. Google
offers a comprehensive comparison of the top balance transfer credit
cards online. Check it out
here.
Reducing Your Home Phone
There are so many phone carriers nowadays that offer
services comparable to the bigger companies at much more affordable
rates. Check out
ConnectMyPhone.com for finding out what phone carriers are
available in your area and for what price. It has also become pretty
common for people living in high cell phone coverage areas to cancel
their home phones and just use their cells. But, if you don't have
100% service in your home, don't cancel your landline. What will you
do in the event of an emergency if your cell is not working!
Reducing Internet Costs
If you are using a different carrier for your home
phone, cable and Internet, contact each and see if you can obtain a
bundle package for all three. Carriers want your service and will
likely offer you an amazing deal if you commit to being a customer
of all three with them for a year or longer.
Reducing Car Insurance Costs
The easiest, quickest way to lower your monthly car
insurance bill is going to be to increase your deductible. You
should be able to reduce your bill by 20% or more just by
increasing your deductible from $250 to $1000! Another means for
lowering your auto insurance is to shop around! Get quotes from
multiple sources. This is really smart especially if you have
not done any comparison insurance shopping in a long time. Your
current carrier wants to make as much money as possible off you
and therefore will not offer you lower rates unless you ask! If
you had tickets and/or accidents under your belt when you
enrolled with your current carrier, your rates were
probably higher than they should be now. So, if that was several
years ago, those tickets and accidents should have 'fallen off'
your insurance record which would mean lower rates for you now!
Utilize
Coupons
Couponing can be fun! If you are really into it, you can end up
paying significant money not only when you go to the supermarket
shopping for
groceries and
food,
but also for almost everything you need to buy! And if you like to
eat out, check out sites like Restaurant.com
for great deals at your favorite restaurants. In addition, it is
very common for restaurants to offer deals where you pay $75 for a
$100 gift certificate.
More Saving Tips:
Kids and their
Clothes
Family Fun
Computers
Movie Tickets
Pet Care
Mother's Day Gift
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