thesimpledollar.com
15 ideas
·16.5K reads
58
Learn more about moneyandinvestments with this collection
How to create a diversified portfolio
How to analyze stocks and bonds
Understanding the basics of investing
Youâll save far more if you donât buy a car or sell it if you already own one but can go without it.
If you can use public transportation, you can save quite a bit of money on gas, parking, and maintenance over time.Â
288
2.27K reads
Carpool to work if you can to significantly reduce wear and tear on your car, save on gas, and take advantage of carpool lanes that might make it easier to get to work.
Check at least once a month to keep the tires on your vehicle properly inflated. Doing so can improve your gas mileage.
266
1.34K reads
Refinance your home or automobile at a lower rate to save money over the life of the loan and lower your monthly payment.
If your student loans are locked in at a high-interest rate, figure out whether it makes sense to consolidate all or some of them.
280
1.51K reads
If you have debts with a high-interest rate, a balance transfer might be a good option and even offer perks such as 0% APR and rewards programs. Ensure you consider the balance transfer fees, and pay down the entire transferred balance during the introductory period if possible.
If you have high balances on multiple credit cards, it can make sense to use a debt consolidation loan. These loans combine several high-interest debts into one personal loan, ideally with a lower interest rate than your current debts.
274
935 reads
If you have a large balance on your credit card, call your credit card company and request a rate reduction. If you often pay on time, they may be willing to negotiate, or you can get a 0% balance transfer onto another card.
Many installment plans offer an interest rate reduction if you sign up for automatic debt repayment plans. They are convenient, save money automatically each month, and ensure you wonât miss a payment or incur a late fee.Â
275
759 reads
Look for items you no longer use that may have value, then sell them online. You can then use the money you bring in to pay off debt.Â
295
1.34K reads
325
1K reads
Country clubs, gyms, cable, newspapers, and magazines are some of the things that people often sign up to but rarely use. Try canceling any memberships youâre on the fence about, and see if you really miss them.
Also, look at the services you pay for monthly and think if their cost is worth it. If not, just drop the service and look for other options that can accomplish the same thing for less.
282
958 reads
383
1.3K reads
Ask at work about your available options that might reduce your insurance costs, and look into family options if you have one.
To lower monthly premiums, consider a high deductible health insurance plan. Just be sure to weigh the expected savings against the additional amount you may have to pay out-of-pocket each year.
264
824 reads
Research your options. You may save money and maintain your current level of coverage by changing insurance, but give your current service a chance to match quotes.
You can also bundle your homeowners and auto policies together, most insurance companies give discounts for that. If youâre using different insurers, ask what kind of discount each would offer if you bundled the policies together.
267
696 reads
If youâre paying for whole life insurance or universal life insurance, consider a cheaper term policy instead. The cost per year will be significantly less expensive â even if you buy similar coverage.
The only difference is, your policy will terminate eventually with term coverage â typically after you retire, when, presumably, your family is no longer so dependent on your work income â whereas whole life policies are for a lifetime.
273
721 reads
If youâre paying a large premium in order to have a small deductible, you might want to consider switching that, particularly if your claims are infrequent. Raising your deductible may reduce your annual premiums, easing the monthly strain on your bills.
262
841 reads
Compare childcare options in your area or try to reduce your existing childcare by a day or two â for instance, look into a nanny-share arrangement, ask for your familyâs help or try working a later shift so you can be home during the day.
You can also reduce or eliminate organized child activities. Look at the real expenses involved with any sport or activity before you let your children sign up and keep them on only one activity at a time.
259
590 reads
416
1.39K reads
More like this
8 ideas
How to Save Money: 20 Simple Tips
daveramsey.com
10 ideas
60 Simple Rules of Personal Finance - The Simple Dollar
thesimpledollar.com
1 idea
Create a Budget and Save More Money
thebalance.com
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
â
Access to the mobile app
â
Unlimited idea saving & library
â
â
Unlimited history
â
â
Unlimited listening to ideas
â
â
Downloading & offline access
â
â
Personalized recommendations
â
â
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates