Monday, 05 February 2007 18:00

How To Save Money

     

  

There are hundreds, if not thousands of ways to save money. Listed below are some of the most useful tips that will save you the most money.

 

  • Move the money in your savings account to a high-yield bank account. Emigrantdirect.com currently offers an interest rate of 5.05%. Most banks and credit unions are only offering between 1-2% for your money.
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  • Make sure your vehicles tires are properly inflated. Over and under-inflated tires decrease gas mileage.
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  • Adjust your theromstat so your furnace or air conditioner does not run while no one is home.
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  • Pay off credit cards in full if at all possible.
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  • Shop at lower-priced food stores. You can generally save between 10-20% when buying off-brand named products.
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  • Get new quotes on car insurance every year. Generally you can save up to 10% when switching to a new company.
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  • Have your paycheck deposited directly into a savings account. From there, only take out the money you need to cover bills. The rest of the money will be left to earn interest.
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  • Avoid signing up for a reward credit card that has an annual fee. The rewards you receive most times are worth less money than the fee you pay yearly.
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  • If you are replacing appliances, try to purchase Energy Star products. Their energy efficient properties can save anywhere from $50-200 per year.
Published in Misc Financial