Let’s face it, many of us think saving is just plain old painful. And it can be if you completely deny yourself, but there are many ways to save without feeling deprived.
The following are some painless saving suggestions:
Direct deposit or automated savings —
One of the easiest ways to save is to make it automatic. Set up a direct deposit from your paycheck to go directly to your savings or use online banking to set up an automatic transfer from your checking to your savings account on a regular basis.
Check your cell phone plan —
Compare your plan with other providers to see if you can get a similar plan for less money. If changing carriers is not an option, downsize your data plan with your current carrier.
Rethink cable —
Check with your cable company to see if they offer smaller packages that can save you money. You may also want to consider switching to streaming TV.
Refinance debt —
Refinancing your mortgage can significantly reduce your monthly expenses, but don’t stop there. Check into refinancing your car, student loans, and credit card debt with zero-percent balance transfer cards.
Raise your insurance deductible —
If you increase your deductible, you can save a lot on your premiums. You should also look into your homeowners insurance for similar savings.
Other ideas —
Here are a few other easy ways to save: • Get rid of your landline. • Pack your lunch instead of dining out. • Become your own barista by making your own coffee. • Look for coupons for things on your list. • Buy store brands, which are considerably cheaper. • Take the time to comparison shop before making large purchases.