Being able to save money on everyday items, or even special ones, means that you will have more money left over to do what you want. Or, it could enable you to pay down bills faster or put more into savings. Here are 12 ways to save more money.
1. If you have not already done so, turn your thermostat down a couple of degrees.
You can always add an extra layer of clothing to stay warm. Turn it lower at night when you are sleeping and when you are at work and no one is at home.
2. Use discounted gift cards.
Many stores and restaurants will sell gift cards at a discount. You can buy these at many stores or online (which may only give you a code to use). These cards can give you savings of 5 to 20% – depending on the store. You can also use credit card rewards to buy them for 10 to 20% cheaper than elsewhere.
3. When shopping, only use cash.
Carry large bills with you, such as $50s and $100s. These will be harder to use. Do not use a credit card if you keep a balance on the card because it will keep you in debt longer.
4. Buy store brands at the grocery store.
Store brands of groceries are always going to be less expensive than brand names. You may need to try a few products until you find some that you like but they are out there.
5. Personal loans are often cheaper than credit cards for big events.
If you have a big event coming up, check out the interest rates on personal loans compared to the interest rate on your credit card. It may give you considerable savings over the life of the loan and you may have a more convenient period (longer) to pay it back.
6. Save money on electronics by buying refurbished goods.
Refurbished items often go through more checks and tests than new ones to ensure they are in top condition. You will save more money because they are much cheaper.
7. Buy your medications at Walmart or other stores.
Instead of going to a pharmacy where you will likely pay top dollar, you can buy generic drugs for $3 or $4 per prescription at stores like Walmart – and some other grocery chain stores.
8. Use coupons.
Coupons can give you sizable savings if you use them regularly. When combined with gift cards, you can save even more.
9. Save on printer ink.
You can stretch your ink or toner by changing the setting on the print quality. You can also print graphics in grayscale to save on ink or toner if it is not a picture that needs to be printed in high-quality graphics. Using slimmer fonts will also help.
10. Dry your clothes on a clothesline.
It may be a little old-fashioned, but you will save money. Also, you will not need to buy any dryer sheets.
11. Eliminate credit card debt.
Pay off all your credit cards. Each month, you are losing money because of interest on your cards. Only use them if you can pay off the bill entirely each month in the future.
12. Shop around.
You may already be using companies for things like cable TV, car repairs, oil changes, car insurance, etc., but you may be able to get a better price. Shop around for services you regularly need and see if there is a lower-cost way to get the same thing somewhere else.