If you’re looking to save money, to reach your goals, simply continue reading to discover 6 creative tips and tricks, which will help you stretch your disposable income and increase your long-term savings!
6 Creative Money Saving Tips:
Place your savings in a long-term, high-interest bank account
Instead of placing your savings in an everyday account, which offers low-interest rates, it’s well worth placing your savings in a long-term, high-interest bank account. Just keep in mind that if you choose to make a withdrawal before your bank account has matured, you may have to pay a hefty penalty rate.
Sign up for a variety of loyalty programs
It’s well worth signing up for various customer reward programs, which will allow you to collect points for purchasing items from your favourite shops. As an example, you may be able to save money on gas, coffee, movies and household items, by signing up to various customer loyalty schemes. If you have to keep one credit, it’s also worth choosing a credit card company who offers a loyalty scheme.
Limit your credit card use
Ideally, you should only carry around a single credit card, which you can use in case of an emergency. On an everyday basis, it’s well worth using a debit card, which is loaded with your own money, instead of purchasing items on credit. As it is oh so easy to use money, which you don’t have if you carry around multiple credit cards.
If you don’t have enough money to pay off your credit card bill at the end of the month, you may want to leave your credit card in a drawer at home, until you’ve paid off your bill.
Price check items before making a purchase
It’s well worth visiting various stores websites, to find out which store offers the cheapest price on an item which you’re interested in buying. As an example, if you are planning on purchasing a flat screen television, you may be able to save several hundred dollars, by price checking an item online, before handing over your debit card.
Use online vouchers and coupons, to save yourself money
If you’re a fan of online shopping and the convenience, which it provides, it’s well worth searching for online coupons and vouchers, will give you a percentage discount off your purchase or free shipping. To find applicable vouchers simple enter your favourite store’s name into Google along with the term coupons, in order to find a current voucher.
When it comes to grocery shopping, opt for generic products instead of branded products
One way to cut your grocery budget in half is to opt for generic versions of products, instead of paying a premium for branded products. As most generic versions of products contain the same ingredients as their branded counterparts. As most individuals are unable to tell the difference between generic products and branded products, it’s well worth purchasing generic products, in order to save money.
So if you’re serious about increasing your savings and stretching your disposable income, it’s well worth trying out the creative budgeting tips and tricks listed above.