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#4 Manage your entertainment expenses.
Could you have more friends in your home versus going out? Think about cutting off your expensive cable and move to free TV and more internet streaming services. Take a look at our article at https://houselifetoday.com/cutting-the-cord-from-satellite/. It’s pretty easy to save $50.00 per month on TV alone. Could you wait for that movie to come out on video rather than see it in the theater? In a month’s time, this can save a considerable amount of money.
#5 Don’t use your credit card unless you pay the bill off every month!
Consider a card that gives you points for every dollar you spend because over time the points can be used to purchase items. But it’s best to try and switch to a cash life. This can be difficult for some but once you get into the habit you will find it easy and rewarding. You also have a tendency to spend less because you see how much you have left after you pay for that item. The other benefit is you won’t have as many bills because you don’t borrow money. You wait until you have enough cash to purchase that item you want.
#6 Write out your monthly bills so you understand where your money is going.
Focus on paying off any high-interest debt. Evaluate what is a need versus a want and consider getting rid of the items on the want list. Take some of the money you save by implementing some of the ideas in this article and pay it towards the high-interest debt you have. This will help pay off your loan faster and over time will put more money in your pocket.
#7 Review your insurance once a year.
Keep your insurance provider honest, they have a tendency to increase their fees over time, and sometimes a simple review and a few quotes from reputable companies will show you how much money you can save. Maybe they have the wrong coverage, with a few tweaks it’s not uncommon to save $500.00 per year. That’s about $41 per month.
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