Ways to Save Money

Could you use some extra cash these days? Are you saving your money but you still feel like you’re always short on cash? Here are some various ways you may be able to put a few more George Washingtons into your pocket.

If you are taking a trip soon, booking flights where you will stay over a Saturday evening, and purchasing a plane ticket in advance can help save you money. When it comes to renting car on your trip, make sure you shop around to try and find the best option.

Speaking of cars, there are a variety of things you can do to save money when it comes to purchasing, repairing, or operating your car. When it comes to purchasing a new car, make sure you compare prices at different dealers for the model you want. Also make sure you don’t sign a contract until you are sure that you want to buy the car. For used cars, make sure you compare the price with the average price on “bluebook” or another price guide. Gas is something that always seems to take a large chunk out of our wallets. So how can you save some extra cash at the pump? Fill up your car with the lowest octane your car will run on and make sure you keep your engine tuned and tires inflated to their proper amounts. For car repair, make sure you go to a certified and trusted mechanic who clearly communicates your options and their costs to you.

When it comes to your banking and credit, you can save on checking fees by having paychecks directly deposited into your checking account. To help increase your savings, place your money in CDs, treasury bills, or notes. These savings methods are low risk, and though they may tie up your money for a little while, they have better interest rates than straight savings accounts. For your credit, always make sure you pay off your entire credit card bill each month. If you can’t pay for something at the time you want to buy it, don’t buy it! Sometimes you have to, but try to avoid spending more than you have. You can also reduce card fees by cutting yourself back to only having one or two cards.

You can save money on living expenses too! If you’re paying rent, try to find a place where you and a roommate(s) can live. This will keep your living expenses lower by splitting them amongst more people. For utilities, make sure you turn off lights and appliances when not being used, and when you travel, turn the heat down in the winter and the A/C down in the summer.

These changes may not result in astronomical savings, but if you really focus on doing them you are sure to see a few more dollars in your wallet each month.

Article by Erik Witt, SMMC Volunteer