I’m always looking for ways to save money since I really don’t have much of an income coming in while I’m sick at home.
One way that I’ve found to save a bit of money is to take a good look at our home insurance to see if we have anything on the policy that we don’t need to be covered for, and I’ve combined our home insurance with our car insurance as that has provided us a discount from our insurance company.
We don’t really have any outstanding personal loans, and have no plans to take one out unless our car breaks down or something. We’ve applied for 0% balance transfers credit cards and expect to save quite a bit of money when we use our new credit cards.
Another way that we’ve attempted to save money was by adjusting our mortgage from monthly payments to bi-weekly payments. Now for those with mortgages that might not really seem like much of a savings since we are paying pretty much the same every two weeks combined as we did when we paid monthly, but the bank only charges interest at the beginning of the month and by paying twice a month we’ve actually lowered the amount of interest on our mortgage and this will result in our paying off our mortgage several years earlier than originally calculated.
The final way that we’ve attempted to save money is by earning higher interest on our current accounts. We’ve set up accounts at a bank that offers good interest rates even on low bank balances. I suppose this isn’t a savings, but earning interest on a balance that we couldn’t earn interest on in our regular bank accounts does give us a small gain doesn’t it?
How do you save money or cut costs? I’m always looking for tips!