You have big goals and even bigger dreams and those things take money to obtain. To reach the holy grail of fiscal responsibility, you do not have to be independently wealthy. Instead, be mindful of how you spend your hard-earned cash. Read on for some helpful ideas to save more and spend less.
Repair what you have instead of replacing it.
Buying new products adds up, and your wallet will take a hit. Consider making repairs to things you already own instead of replacing them. One category where it can make sense to repair is with technology.
Computers, tablets, and smartphones can all be repaired, within reason. You probably own a smartphone and rely on it almost religiously. You need it for communication, navigation, reminders, and your daily schedule. Next time your phone starts to glitch or cause you trouble, schedule a smartphone repair as a savvy alternative to shelling out what seems like a mortgage payment just for a new phone.
Maintain your vehicle.
A new ride is expensive. If you already own your vehicle, it just makes prudent financial sense to keep it in proper working order. The best way to do so is by following the manufacturer’s maintenance schedule.
Watch this video to learn 10 essential car maintenance items to save you money and prolong the life of your vehicle.
Pay your bills on time.
The simple task of paying your bills does not seem like a money-saver. But, it is. When you pay your bills before their respective due dates, you avoid late fees. Those late fees can add up, thus costing you money that you would surely rather keep in your wallet (or bank account).
To avoid any problems with forgetting to pay what you owe, or a check lost in the mail, set all of your recurring bills to autopay. For the first payment cycle, keep a close eye on each account to ensure it gets paid on time. Read the details and fine print as sometimes there is a tight window to set up autopay and have the payment drawn for the first month. It is common to see a user set up autopay only to have the money withdrawn the following month, and the user misses a payment which results in a late fee. What is even worse is that this error can lower your credit score.
If you are unsure about the withdrawal dates, contact the company or simply send a payment. Any overages or double payments within the same billing cycle will be added as a credit to your account and will be deducted from future billing cycles.
Now that you have some reasonable ideas on how to save money, it is time to take action. Get that phone repaired, take good care of your possessions, and maintain your car instead of putting it off for another day. Knowing you have reliable tools available for your daily needs and saving money is a win. Who knows? You might be so motivated by the prospect of cutting costs that you find a few new ways to save money.