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Common money missteps

Time for some tough Tightwad love! Here are some common mistakes that are easy to fix. Spring is the perfect time to recalibrate your finances.
Dream of big tax returns Of course we all hope for big tax return so we can pay down debt or finally buy that new patio set. Unfortunately, receiving a large tax return means you're withholding too much from your pay and subsequently missing out on income throughout the year.
Fail to shop around Whether it's a new carburetor or even dental work; get as many quotes as possible. Ask friends for recommendations and let bidders know you're receiving shopping around.
Hoard cash Letting a change collection take over cabinet space is imprudent. Let it work for you by investing it, or deposit it into an interest-earning savings account. If you have a high-deductible health plan, divert some of your pay tax-free or put a portion into an education savings fund for your kids.
Ignore automatic payments They are very convenient and help you avoid late fees, but you should still review your payment details and statements to ensure you are not being overcharged with extra fees or services.
Ignore gift cards This is a waste of money… especially true since you can sell them for cash using, where you can receive up to 92% of your card's value.
Ignore opportunities If your employer offers a retirement matching plan and you don't open an account… that’s dumb.
Live beyond your means Using credit to fund your lifestyle will ALWAYS backfire.
Overdraft your account Tie your chequing account to your savings account to avoid overdraft fees, or ask that your debit card be declined in the event of insufficient funds.
Pay for free services Whether is free kid’s meals, ATM fees, texting packages or just taking advantage of your local library – there are opportunities available to help boost your budget.
Pay for things you don't use Do you watch the hundreds of channels that come with your expensive cable subscription? Use all the data and minutes associated with your cell phone plan? Some stats report that 80% of cell phone users overpay on their plans by up to $200 a year (ABC News).
Procrastinate There is such a thing as last-minute deals, but ultimately they're few and far between. Whether you're booking travel or considering opening an emergency savings, putting off things off can cost you dearly.
Use credit cards without rewards Make your credit work for you! Whether it's cash back, gift cards or travel points, your credit card should offer perks that help offset the cost of everyday purchases or occasional luxuries.


Thomas @ i need money ASAP! said...

We have a general rule that we'll spend 1hr shopping around for each $100 of a purchase price. So when we bought a bed for $2000 we spent about 20hrs doing research and shopping around. By using this general rule you prevent yourself from making any impulse purchases.

Anonymous said...

avoid using fresh herbs if called for in a recipe --dried ones work just as well --or invest in your own herb garden

giveawaypost said...

Thanks for the money saving tips

Jane Done said...

KOTATARUHAN merupakan CARA DAFTAR SBOBET TOP INFOny, sungguh sangat menarik Gan Saya sungguh terkesan Gan izin share ya Gan. TERIMA KASIH.

Mark said...

Great tips. "If your employer offers a retirement matching plan and you don't open an account" what kind of idiot will refuse such an offer?!?

Anonymous said...

vice, thank you TW

Diana Cummings said...

Admin, if not okay please remove!

Our facebook group “selfless” is spending this month spreading awareness on prostate cancer & research with a custom t-shirt design. Purchase proceeds will go to, as listed on the shirt and shirt design.


Macey Lewington said...

Very good tips for my family budget! Thanks! I will try some of them!


Thomsons said...

Hello everyone,
Thanks for sharing these tips. I have a big problem with money saving. Sometimes it is necessary to read some fresh ideas to realize that change is needed. Well done!

Lilly Collins said...

Spring is always the best time to do many things. Unfortunately some of them are not so funny. Good tips and finance collaboration. Thank you very much


Bethany Thomson said...

Unfortunately, I've done most of the things in this article. But, now I'm trying to be wiser and save money.

Millennial Moola said...

Ugh I hate gift cards. I always forget about them and let the value run down

Southwark gal said...

Great list! I fail in a couple of points...

Abingdon Cleaners said...

Refusing a retirement plan is not just mistake - it's rather stupid!

web sitesi said...

Great list

pimapen tamiri said...

Very good tips for my family budget! Thanks! I will try some of them!

Mony Zaharieva said...

Very interesting post.
And very helpful for my family!
Thank you!

sineklik said...

thanks very good post.

Adam said...

Using credit to fund your lifestyle will ALWAYS backfire: Totally agree. I've done it a few times and I totally regret it.

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