Tuesday, September 2, 2008

101 Top Personal Finance Tips - Part 2

Image by Kiki99

Welcome to Part 2 of my series: 101 Top Personal Finance Tips. To make sure that you get them all be sure to subscribe to my RSS Feed!

The series so far:

6. Pare Down Your Phone Service

Do you have a landline and a cell phone? Do you really need both? Try cutting off your landline and just using your cell. Also, are you using all of the bells and whistles that come with your phone service? Are you paying for roadside assistance that you get from somewhere else also, or do you pay for text messages you aren't using? See if you can cut at least $5 off your monthly bill.

7. Cancel unnecessary subscriptions

Getting rid of movie subscriptions, newspapers, magazines that you don't read, and other monthly subscriptions can really help you cut down on cash leaks. Really evaluate if what you get out of a subscription is worth it. Try cutting it off for three months and see if you miss it. Take into account not just your reading pleasure, but other benefits of the subscription like coupons that you regularly use.

8. Share a cell phone plan

If you have friends on the same network as you, try starting a family plan and combining your bills. Often it costs as little as $10 to add an extra line. This could mean that instead of having two $60 phone bills, you split one $70 bill. It might be a little extra trouble in the beginning, but it can save a lot of money over the long run.

9. Make your credit card payments early

Most credit card companies charge you interest over an average daily balance. Some even compound interest on a daily basis. The earlier you make a payment, the lower the balance that you are being charged for. So instead of making your payment when it is due, try making it as soon as you have the money for it. You can even pay parts of it over a couple of weeks. It may not make a huge difference, but every little helps.

10. No more bottled water

Bottled water, though handy, is really a horrible concept and is incredibly wasteful. Not only are all of those bottles bad for the environment, but nine times out of ten the water quality is no different from tap water. 
I do have a Pur Water Tank to filter tap water which was a good compromise and made my husband happy. The initial expense pays for itself quite quickly. With a good dishwasher-safe travel bottle, you can save a bundle and go a little greener.

Be sure to check back for the next tips in my series!

1 comment:

Anonymous said...

Thanks for sharing. Like always, on the prosperous and right on objective!