2 MIN READ
4 Ways to Cut Your Expenses and Save Big
As a Penny Hoarder, you likely love to find ways to make extra money, and there are certainly no shortage of ways to do so. However, making extra money is only one part of the equation. To get ahead even more, consider finding ways to save money. If you’re saving money AND making extra money, you can get ahead faster than you ever imagined possible.
The good news is that shaving money off your monthly budget is not difficult. Here are some ways you can painlessly save without sacrificing quality:
1. Close dormant accounts. You likely have many zombie accounts. You know, the accounts that keep sucking your money month in and month out and in return you get nothing. Think of the gym membership you excitedly signed up for in January and haven’t used for a few months now. Do you still get paper bank statements? If so, you’re likely paying a few dollars for those every month. Now’s the time to cancel the gym membership and get electronic statements.
2. Bundle services. Are your cable, Internet and phone services bundled? If not, you may save $20 or more by bundling. Check the internet for the many bundle deals out there like virgin broadband deals.
However, bundling is just for your cable provider. Did you know that your insurance company also offers bundling deals? Bundle your home or renter’s insurance as well as your car insurance, and you could save up to a few hundred dollars.
3. Cut the land line. There’s no reason to pay full price for a land line. Instead, look at alternatives like VOIP phone services. You can save $20 to $30 if not more by making this simple shift. Or, you could simply switch to just using your cell phone.
4. Simplify cell phone service. Speaking of cell phones, if you don’t use yours often, consider going with a pay as you go cell phone provider. If you do use your cell phone regularly, check to see if you can get a discount through your employer. Many employers partner with cell phone providers to offer steep discounts.
As a true penny hoarder, you should be making money as well as saving money. You’ll find it easy to quickly get ahead financially. Best of all, many of these changes will not affect your quality of life, but they will help you keep more money in your pocket.