Four Money Saving Tips
It’s already day 4 of the Ultimate Blog Challenge and I’m going to use the suggested topic which is to write about things that come in fours. My four things aren’t something that comes in fours but it’s on the same idea. Today I’m going to share Four Money Saving Tips with you.
1 – Credit Cards
While some people don’t use credit cards, I am one that does. However when using credit cards, you have to be very strict. First, I NEVER get a card that has an annual fee and I ALWAYS use cards that give CASH BACK. The other thing, which is the main tip is PAY THE BALANCE IN FULL WHEN THE STATEMENT ARRIVES. If you skip one or two months of paying in full, you will end up paying so much interest and you risk the chance of being in credit card debt for along time.
One of the ways to be able to pay the balance in full is to watch your spending. Don’t make purchases that you know you will not be able to pay when the statement comes in. I use it like cash, knowing how much to budget for the month between groceries, gas, pharmacy, and monthly bills that are set on auto pay.
I let the cash back build up and sorta forget about it but it’s there if needed. A few months about one of the banks had an offer to redeem at least $50.00 by the beginning of December and receive $5.00 extra cash back. Me being the thrifty or frugal type jumped on this and when I checked the amount of cash back that had accumulated, it was almost $900.00!
My card gives me the option of getting gift cards, purchasing items or depositing it in the bank. My frugal mind goes to work again knowing if I purchase an item or get a gift card, I won’t be making any more points. But if I deposit the money in the bank, then what ever I planned to purchase, I use the card for more points!
2 – Annual Billing Payments
For those who have homeowners, auto, motorcycle or other insurances there is a way to save money by paying your premium in full. Most companies bill you monthly but add a monthly “convenience fee” or “installment fee” that can be anywhere from $3.00 to $5.00 per month! Take an average of $4.00 monthly and your spending $48.00 annually just for the convenience of paying monthly. If you have more than one policy, this amount could double or even triple!
Getting back to the credit cards, I pay these bills with the one that offers the highest amount of points, receiving even more cash back.
3 – Bank Interest
Our bank officer is great at watching our accounts and letting us know the best type of account for the most interest. Check your accounts often and make sure you are getting the best interest rate for the amount of money in your account. Sometimes savings accounts have much higher interest rates than checking accounts. You usually have unlimited transfers from savings to checking so it’s possible to transfer the amount needed for the month into your checking and still get the higher interest from your savings account.
4 – Using Coupons
My last tip is to use coupons when grocery shopping. Even if you use $5.00 worth of coupons a week, you’ll be saving $20 a month or $240 annually! If you don’t use coupons you should try it, start out with a $5.00 weekly saving average and the more you clip, the more you save! I’ve used $20.00 worth of coupons with a $50.00 worth of groceries so I’m only paying $30.00!
I get excited when the beginning of the year starts as it gets me into full gear for saving at the grocery store and clipping even more coupons. You can check your newspaper for coupons but I get most of mine online. For even more savings, my earning site gives me points for each coupon I clip plus 25 points for each coupon I use! These points convert to cash back from the site for even more savings!
The other good thing about coupons, you need to plan your shopping list before you go to the store so you will have your coupons ready. Stick with your list to save even more money. Sometimes I need to put my blinders on so I don’t let things “slip” into the shopping cart that aren’t on my list but when you see the savings from following your list and using coupons, you will see more savings in your pocket or bank account and in turn earn more interest!
Speaking of coupons don’t forget to check the ones for you favorite restaurants! Many have coupons either in your local newspaper or online for a percentage off, a dollar amount or even buy one get one meal free. PLUS if you do like I do, I purchase online gift cards for restaurants and earn points from my earning sites plus cash back on my credit card! It’s a win-win for me!
I’ve questioned this before, I’m not sure if you would call me, thrifty, frugal or just one that likes to save the most where I can.
Top 4 List Last January
Last January I wrote a blog out Four Blogging Tips I use. This is the link if you would like to read about them. http://themarthareview.com/four-blogging-tips/
I hope my four money saving tips can help you keep more money in your pocket!
Oh, my gosh, Martha, I keep forgetting to check for coupons! I do go on the days when I know they will have BOGOS, but you are reminding me I can do even better than that.
The BOGOS are a great way to save Jeanine but if you have coupons for them, think of how much more you can save! Your next challenge will be to clip or print out coupons for you shopping day! Thanks for stopping by, now get clipping.
Great ideas. I use a points credit card too and use the points to pay for air fare to visit my daughter or go other places. I always forget about restaurant coupons. Need to remember to check for them before I go to town, since I often eat out when I’m doing errands.
There are so many ways to save Nita, free airfare is great! We gave our daughter a gift card to Logan’s and the day before she mentioned they were going out to dinner, I checked online and found a coupon for Logan’s and messaged it to her. She was able to save $20 on her and hubby’s dinner! Now she has enough left on the gift card for another outing! Thanks for visiting, check out the restaurant coupons!
I love the tips you shared with me and I use Coupons all the time. Although we only use a Paypal Credit Card no, bank account either. We only use cash so we don’t go into debt.
Debt can be scary Glenda, but I like using credit cards so I only have one payment to make when the statement arrives. We always pay in full plus I make money from the cash back earned. For me it’s a win-win. Thanks for stopping by and continue to clip those coupons!