Here are my top choices for saving some cash here and there (and almost everywhere!):
- Pay on time: Paying bills (from the mortgage and credit cards to the utilities and club memberships) on time or early means no late fees. Timely payment also means better credit scores, which equals lower interest rates.
- Ask for lower rates: Been paying in a timely manner for six- to twelve months on a card? Call and ask a customer service rep to lower your interest rate if you've been working hard at repairing previous credit issues. Your track record will show you've changed, and you may get that lower rate (and save yourself in interest charges).
- Pay online or by phone: Take a look at what your creditors charge for online or phone payments. Some of them charge a fee for using one method, but not the other. Eliminate postage by paying remotely, then eliminate fees by looking closely at your statement. My mortgage company charges me for phone payment, but not online payments. My insurance, cellular and credit card companies allow both methods fee-free. Want to do it just once? Speak directly to a rep and ask them to waive the fee for you so you can sample the program.
- Pack your own meals: Working outside the home? Pack your own snacks and lunches when possible. Buying a latte every morning on the way in? Invest in a good machine and make your own. Even if you cut down to just one outside coffee purchase a week, you'll save on the other four days!
- Watch bank fees: Some banks charge you to use the ATM, others charge you to talk to a teller. If you're changing banks, ask about these fees and get them in a written agreement. If you're happy with your bank but just want to save some bucks, see which method is free, and use it!
- Drop long-distance: Consider a VOiP program or use your cell phone (if it has unlimited long distance calling). Check your agreement before going all out though...wireless plans vary and you want to make sure you have the right coverage.
- Kill cable: Or at least cut it down a notch. Do you really need 762 channels? Call your provider and see what package you need to get the channels you truly love. Not that into TV, just paying $70 a month to watch one show you adore each week? Try cutting cable and getting together with a friend for dinner and a show. (Or ask them to record it for you.) My best friend and I did dinner and Martha Stewart's Apprentice last year; this year it's The Unit. That's all I ever want to watch anyway, and she enjoys them also...plus the kids get to play. Everybody's happy.
- Save, save, save: Set up a savings account with a high-interest institution like INGDirect. There are several to choose from now. You can make manual trasnfers whenever you like or you can set up an automatic program to do it for you. Try not to tap into this money and just watch it grow!
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