While there’s no special secret formula to making money, there are some smart steps you can take to keep your hard earned money.
- Research your purchases: The Internet is a great place to make sure you’re getting the best price. Even if you don’t feel comfortable buying online, there’s so much information out there for consumers to access so you can compare prices before you go to the store. A simple google search the night before we go to any event or place provides us with quick money savings coupons. Why pay full price if you don’t have to.
- Read the fine print: Look out for hidden fees, usage charges, termination fees, etc in any contract; many time special offers are based on signing up [and paying] for additional services that you don’t need. Likewise, bundled services aren’t such a discount if you don’t require all the services. Also, promotional pricing may sound like great deals, but if you’re signing a long term contract, make sure you calculate the annual cost of services for comparison. After the temporary price reductions are over, “regular” monthly charges may eliminate any savings you might have received.
- Negotiate the best deal: Always ask for fees to be waived; soemtimes they will be, but if you don’t ask, then they definitely won’t be. Call your service providers periodically and ask for a rate reduction. Competition is high and the mention that you are shopping around is usually enough to get vendors to fight for your business. It’s much cheaper for them to keep an existing client (even at a lower rate) than have to compete for a new client.
- Pay on time: Seems simple enough but consider that banks and credit card companies make billions each year by charging fees. Set your accounts to make automatic payments if possible. Save on insurance premiums by paying annually instead of monthly.