Looking for ways to save money? Every little bit helps, especially if you put your savings to good use, like paying off debts or building up an emergency fund. These 10 tips may help you get started on yourt money-saving project.
1. Uncover every possible discount
There is perhaps no better way to save money than getting a discount on the items you purchase. Most people spend money without even bothering to find discounts, but if you put in some effort, you might be surprised by just how much you can save. Before you set out to buy anything from groceries to auto parts, check for discounts. Look at newspapers and sales ads, look at retailers' websites and apps. Look at online coupon and discount websites. Before purchasing anything - goods, services, dinner at a restaurant, or whatever - see if they offer any kind of discount you might qualify for. Many establishments offer price breaks for students, veterans, senior citizens, AAA members, first responders, etc. You never know unless you ask.
2. Always ask for a price break
Everything has a price, but the price you pay doesn't always have to be what the price tag says. It never hurts to ask for a better deal. The worst thing that can happen is the seller will say no, but oftentimes, you may find that you can negotiate your way to a lower price. You may be able to identify what gives you the upper hand in the transaction, such as blemishes on a floor model, a desperate home seller, or a car gathering dust on the lot.
3. Skip extended warranties
Retailers are always asking you if you'd like to buy an extended warranty, and you can obviously save money in the short-term by simply declining. But is this the right strategy? What if the product breaks? The reality is that the standard manufacturer warranty will most likely cover the issue, and if not, it will probably cost you just as much to have an item repaired as it does to purchase the extended warranty in the first place. Why not give the product a chance to perform as it's supposed to for the price you paid to begin with?
4. Switch bulbs
If you're not already taking advantage of energy-saving light bulbs, now is as good a time to start as ever. Energy.gov says, "Light your home using the same amount of light for less money. An average household dedicates about 5% of its energy budget to lighting. Switching to energy-efficient lighting is one of the fastest ways to cut your energy bills. By replacing your home's five most frequently used light fixtures or bulbs with models that have earned the ENERGY STAR, you can save $45 each year." (1)
5. Buy generics
If you have prescriptions filled, you can save a significant amount of money by using generic versions of medications. This is the basis of Consumer Reports' tip, and it's a great piece of advice. But you can save even more by switching to generic versions of all types of products. Sometimes the brand matters, but in many cases, you could be spending less on grocery items like paper towels, canned goods and cleaning products by buying generic, and your family won’t even be able to tell the difference.
6. Don't leave home without coupons
Earlier, we talked about looking for as many discounts and coupons as possible. How many times have you clipped coupons, but forgot to actually take them to the store with you and just proceeded to buy your groceries anyway? Avoid leaving home without your coupons by keeping them in the car or in your wallet/purse. Or, check out the store's website for digital coupons and download them before you leave the house, so you don't forget about them once you're in the store.
7. Book on discount sites
You can save big on your travel expenses if you use discount travel sites to book hotels or airlines. Rather than going directly to the hotel or airline website, explore deals on sites like Expedia®, Priceline®, TripAdvisor®, Kayak®, etc. Chances are, you'll find savings.
8. Skip the supermarket one or two weeks a year
This is a great tip that you don't hear very often. Most of us go grocery shopping each week, but before you set out, see if you can get by on what you already have for a week. This not only keeps you from buying impulse items at the store, but it’s also a good way to make sure that you use what’s in your pantry or freezer before it reaches its expiration date and has to be thrown out.
9. Find the cheapest gas
Rather than just stopping at the nearest gas station when your tank is getting low, do a little research online to see where you can get gas for the least amount in the area. Numerous websites offer local gas price comparisons, and even just searching "gas prices" online will show you prices for multiple stations in the area.
10. Utilize bundles on your telecom services
Telecom services are always looking to hook consumers up with bundle packages. This phenomenon has only grown as more and more people have become "cord cutters," opting for online streaming choices. Depending on your own needs, you may be able to bundle services for savings or simply join the cord cutters of the world to make a big savings impact.
There are always more ways to save money if you get creative and really examine your current habits and the alternatives that exist. These 10 tips can certainly help, but don't stop there. Always be on the lookout for ways to save a few dollars here and there – they can really add up in the long run.
1. https://www.energy.gov/energysaver/save-electricity-and-fuel/lighting-choices-save-you-money