One essential step to avoid the bad credit trap is to minimize spending. This year, try to find practical ways to cut back on costs and save your money. Take a look at how you can save $100 and more simply by following these suggestions:
1. Skip warm wash laundry.
Instead of setting your washing machine to hot wash/cold rinse cycle, switch to cold wash/cold rinse. Making this change should have very little impact on how you clean your clothes and can save you up to $100 a year on electricity. .
2. Drink water.
Many consumers spend hundreds of dollars each month on flavoured and artificial beverages. Meanwhile, drinking water (not bottled) is not only budget-friendly but a healthier way of living. However, skip the bottled water. Instead, bring your own refillable container to your office or school and save yourself $100 and more as you become healthier
3. Shop around and compare.
Whether you are looking for a new pair of shoes, a mortgage loan, or auto insurance, always take the extra time to look around and compare your options. You can use reliable websites to compare various deals in the market quickly and conveniently. Keep in mind that as the competition among merchants and lenders become stronger, you should use it to your advantage to find the best deal.
4. Buy with coupons.
For many moms, using coupons at groceries and supermarkets is a great way to save money. Where to look for coupons? You can search for them from magazines, newspapers, and from websites that especially offer discount coupons and deals. Before going to the grocery, check out online for possible coupons that you can use for your purchases. The extra effort of printing or cutting out coupons can save you hundreds of dollars in one shopping trip.
5. Don’t be afraid to haggle.
It’s always smart to ask the merchant if you can get a lower price than what is advertised. Ask your handy man if you can get even just a few dollars off from the fee. Call up your cable operator or internet provider and ask if they can slash off even just 2% from your monthly fee, especially if you’ve been a long time customer. Keep in mind that if you won’t try, no merchant will volunteer to lower their price. On the other hand, asking politely doesn’t hurt and may even win you great results.
6. Reduce your credit card rate.
If you have good credit and if you have been consistent with your credit card payments, then you should definitely ask your credit card company if it’s possible for them to give a lower rate on account of your good payment record. Nevertheless, if you have bad credit and you’ve missed some due dates, then obviously you’re not in the position to haggle.
7. Sell old or unused items.
Do you have things in your home which have been sitting in the attic or basement for a long time? If yes, putting them on sale may even make you some money. You can try to post an ad at Ebay or have a garage sale to earn extra income from your old stuff.
8. Refinance your loan.
If you acquired your loan while your credit rating still needs improvement, this might be the right time for you to refinance to get a lower rate and reduce monthly payments. Perhaps you managed to raise your credit score through timely loan payments. In this case, loan refinancing can be a wise move.
<color=”blue”>What Exactly is Bad Credit Loan Refinancing?
About the Author
Melanie Mathis is a credit analyst and a writer for 8 years. She has been participating in the programs of NHBS, Inc such as their continuous effort in giving out Free Credit Repair and Building Ebook. NHBS also has a list of recommended Bad Credit Credit Cards