How to Save More Money Now
Some people always have money no matter the state of the economy. Have you ever wondered how it is possible? Easy! These people know the tricks. And we are ready to reveal some of them to you in this article:
Place Your Bills on a Budget
Most of the monthly payouts usually go to mortgages, car notes, and utility payments. Advice for budget billing: define your monthly average consumption of energy based on your annual consumption and pay that sum every month. Get in touch with your utility company to find out the details.
Negotiate a Better Credit Card Rate
You shouldn’t pay 25% interest on credit cards. Better use cardratings.com service to check the list of cool deals with some interesting bonuses like cash back, gas rebates, or airline miles. An important thing to remember: taking in consideration that a lot of introductory rates of 0 percent will expire in 6 or 15 months, you should pay bills on time and crate a positive credit to discuss an attractive 10% rate for yourself.
Pay Your Mortgage Principal First
A lot of personal finance experts advise giving some extra payments to the principal in order to build equity in your home. If you own a smaller amount on the principal, you will also have a smaller amount of interest over the life of the loan and reduced mortgage payments which will help you to save more money.
Make Your Kids Match Your Money
Ellie Kay, who is a financial expert and author of some very smart books in finances, advises taking paying for children’s college tuition as an investment. When you’re making an investment, you’re anticipating your money to work for you and you also except to get a report on the progress of your investments. This way you may think of your students' contribution as your 401(k) company match: tell your children that they need to match the investment that you have made in them with their own money that can be used for paying for books, gas, or meals. You may even ask them to provide a report on their performance.
Move Your Money Around
If you have an impression that you pay too much money for loans than probably you are. The low-interest rates are easily accessible. Why don’t you search for the best deal and use them? CEO of creditsesame.com Adrian Nazari suggests people chart all their loans: credit cards, auto, home, etc. Write down the current interest rate, terms who and how much you own. When your loans are optimized, you can easily move money where it is necessary.