It’s difficult to save up money nowadays because of the high cost of living. But with the right tools and knowledge, you can tackle your expenses much more efficiently and make sure that you never go over your head in balancing your personal sheets.
We can help you improve on the “knowledge” part of the equation. Below are some of the highest rated money tips found on the aggregate site Reddit. These are truly common-sense money advice that you should start heeding right now.
1. Buying a car? Buy it at the end of the month.
Salespeople have quotas to meet each month and will be more likely to cut you a deal.
2. Don’t buy a house near a school…
…until you’ve visited the property at both 8am and 3pm on weekday.
3. Before buying a house check it out on a very rainy day…
…to see how effectively water drains.
4. If your company offers 401k matching, do it.
That’s an instant 100% return on investment. That’s better than any stock, bond, mutual fund, etc in existence.
5. Write a fake pin number on the back of your credit card.
That way if it gets stolen the person will only get 3 attempts before the ATM machine swallows the card.
6. Increase your 401k contribution by 1 or 2 percent each time you get a pay increase.
You won’t even notice the change and it will add up!
7. Don’t lend money to friends or family, unless…
….you’re prepared to lose either your money or your friendship.
8. If your contract for cable/satellite/cell phone/online subscriptions are up, call and ask to cancel.
The operator will put you through to retention where they will almost always offer you a better price for the same service, even on a month to month basis.
9. If you borrow even a small amount money from someone, pay them back as soon as you have any spare money.
Even if its a minor amount, even if they say not to worry. People will respect your integrity and not bad mouth you behind your back.
10. When buying things, keep in mind that you’re not buying it using money, but hours of your life
This simple change in your state of mind will vastly improve your purchasing decisions.
11. When purchasing products with warranties, set an alarm in your calendar for 1 month before it ends.
If there are any defects, make use of the warranty.
12. When tightening your budget, commit to simultaneously raising your quality of life by every means available to you.
Take advantage of everything that’s free (libraries, museums, galleries, national parks, whatever floats your boat). Tidy up and shift things around in your home so it looks better. Make time to hang out with people who lift you up. It helps the whole experience to be positive and uplifting and empowering instead of just feeling like deprivation.
13. When your car is paid off, keep making your car payment into a savings account every month.
Soon enough, you will have enough saved to cover regular maintenance, eventual repairs, and your next car, in cash.
14. Have a bunch of change lying around?
Don’t go to Coinstar, go to any local bank. Coinstar charges a fee of 10.9% whereas a bank has no fee.
15. When signing up to websites, set your birthday to a day in December.
That way when they send out promotional birthday vouchers, you can use them to save money on Christmas gifts.