Many people are being forced to tighten their budgets in today's economic climate. However, there are a number of tips people can follow to give their bank accounts some breathing room. Here are 10 effective ways to save money today.
1. Get rid of home phone service: Almost everyone possesses a cell phone these days, and with internet calling apps such as Skype and Facetime that can call anyone via wi-fi, landlines are often not necessary. For most people, ditching a home phone service can save over $300 a year.
2. Instead of buying books, borrow books from the library: People who love reading have access to millions of books at bookstores and online retailers. However, spending any money on those books is unnecessary if local libraries carry them. Acquiring a library card is often easy, and doing so can allow one to borrow all the books he or she wants for free.
3. Buy generic groceries: While some generic foods may not be the best of quality, there are a number of generic food products that are great. For example, groceries such as milk, salad dressing and syrup often possess good quality even when they are generic brands. Buying generic brands of various groceries will rapidly rack up the savings during trips to the grocery store.
4. Find coupons: Coupons can be found in newspapers, store ads and store emails. In addition, there are tons of coupon websites all over the Internet that provide great deals for items at nearly any major retailer.
5. Compare insurance policy quotes: Some people struggle with high insurance rates, but different insurers offer different rates. Individuals who are dissatisfied with their rates should try to receive quotes from other insurers and switch to the company with the best rates.
6. Increase car insurance deductible for collisions: Safe drivers should ask their car insurance companies about increasing their collision deductibles. Increasing deductibles can reduce monthly car insurance rates by up to 10 percent. Not all people may be able to negotiate a higher deductible, but it never hurts to call the insurance company and try. There are plenty of companies that offer discount car insurance quotes online which may save you some money.
7. Carpool with a friend: People who have friends at work can try sharing rides throughout the week. Alternating drivers throughout the week will reduce stress and save each person substantial money on gas.
8. Purchase a water filter: Drinking water is great, but drinking bottled water can become costly. People who want to drink water should fill a reusable water bottle with filtered tap water. Bottled water often possesses the same quality as filtered water, so save money by drinking filtered water rather than bottled water.
9. Bring packed lunches to work: Many people think they are not spending a lot of money when they eat lunch at "cheap" fast food restaurants, but they can actually spend a lot less by bringing their own lunches to work. Packing items like sandwiches, chips, fruit and drinks at home rather than buying them at restaurants will save plenty of money.
10. Do not use vending machines: Just about any item found in a vending machine can also be found in a store at a much cheaper price. People who find themselves with uncontrollable hunger cravings during the workday can try bringing snacks from home. Snacks high in protein are often best for fighting hunger.