Money is a sensitive matter in families all over the world, but some witty moves might help you save plenty of it and remove a pressure from your daily life. Whether is hiding your credit cards away or shopping smart, we have some suggestions below.
Get rid of your debt
Spending some extra money to pay off your debt might not sound as a good way of saving money, but on long-term perspectives, it is. Make sure to create a monthly budget for your needs, and try to put the rest of your money on your credit card. In time, you will start noticing how your debt is smaller and smaller. Don’t push this to extremes, as you want to have some monthly extra cash in case of emergency. However, keep in mind that the more you pay, the sooner you’ll finish your debt and you will get rid of a big stressor in your life. A great idea is to never use your credit cards, unless in case of extreme emergencies. Reducing debt is a matter of efforts and staying away from your credit card, no matter how much of a struggle this is for you, is completely worth it.
Pick the right bank
When you must pick a new bank for your financial needs, make sure to pick the one that makes the most of your money. Small quirks such as no withdraw fees are always a great opportunity to save more on the long run. Also, look for banks with high-interest rates. A pro tip is to search for those smaller banks as these are more likely to offer such advantages to their clients.
Make sure to divide your pay check
Your HR department is able to split your pay check between your current account and your savings account. Make sure to ask them to do this, and you can be sure that monthly, you’ll have a small percentage sent directly into your savings account.
Use the ATM sporadically
Instead of running to the ATM every other day, it would be ideal to only make a weekly trip and withdraw just as much money you anticipate that you’ll need that particular week. To organize that money, you can divide it into separate envelopes, for various needs: Groceries, Bills, even Fun, but make sure to have your money divided before spending it.
Trick personal care service providers into offering you free stuff
This might sound a bit odd to you, but you can get free personal care services, if you know how to. For instance, you can get free brow waxing services to free haircuts, if you surf web pages such as Yipit, Living Social and Groupon. If some offers sound shady, search the establishment on Yelp and read some reviews on it. Also, you can get your hair done for free if you spot a beauty school in your area and make an appointment with a trainee.
These are only a few of the ways in which you can manage better your family’s finances and save plenty of money in the long run.