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.
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 GiftCardGranny.com,
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.
19 comments:
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.
avoid using fresh herbs if called for in a recipe --dried ones work just as well --or invest in your own herb garden
Thanks for the money saving tips
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?!?
vice, thank you TW
Very good tips for my family budget! Thanks! I will try some of them!
Macey
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!
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
Lilly
London
Unfortunately, I've done most of the things in this article. But, now I'm trying to be wiser and save money.
Ugh I hate gift cards. I always forget about them and let the value run down
Great list! I fail in a couple of points...
Refusing a retirement plan is not just mistake - it's rather stupid!
Great list
Very good tips for my family budget! Thanks! I will try some of them!
Very interesting post.
And very helpful for my family!
Thank you!
thanks very good post.
Using credit to fund your lifestyle will ALWAYS backfire: Totally agree. I've done it a few times and I totally regret it.
Nobody ignores retirement matching plans ;)
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