8/28/2023 0 Comments Tight budget planningThat’s possible with cash-back credit cards, in which you can make a little back every time you make a purchase. You have bills, right? Imagine being able to make money every time you pay for your cell phone bill, favorite streaming service, or groceries. But you can negotiate fees: a recent study showed that 81 percent 2 of consumers who asked for lower credit card fees actually got what they wanted from their companies! And if you can’t get lower fees for credit cards and banking, try seeing if you can get a better deal on deposit accounts and credit cards through Affinity.Ħ. Lower your banking and credit card fees: Fees on bank accounts and credit cards can be so slight and/or occasional that you don’t really notice them, but they add up. You should be careful with your money, but being downright cheap can sometimes have costly consequences.ĥ. When you buy a car, for instance, you should be willing to pay more for quality rather than purchasing a vehicle that will repeatedly break down and require expensive repairs. Spend more now for items that save money later: Sometimes it makes sense to spend more money now, if it will save you money in the long term. Give yourself time to rethink the occasional impulse buy, and if you know you are still a potential victim for impulse buying, consider limiting your shopping to stores or websites that have generous return policies when the inevitable buyer’s remorse kicks in.Ĥ. Often, crafty store displays or targeted online ads try to get you to purchase things that you would realize you don’t need or event want if you really thought about it. That’s why it’s wise to have as a rule a “cooling off” period of a day or two when you see something you want to buy. It’s ok to reward yourself every once in a while, but you need boundaries. Even the thriftiest people sometimes have the sudden desire to buy an unnecessary item, whether a new outfit, a TV set or some other luxury. At some supermarkets the largest size is not always the cheapest by unit, so you might need to do a little math (sometimes already done for you right on the price label) to make sure you are maximizing your savings when there are multiple sizes to choose from.ģ. This may be inconvenient in terms of transporting and storing all those items, but it will definitely save you money. Even if you’re buying for only a 1 or 2 person household and buying 36 eggs at a time doesn’t seem practical, you can still find ways to save at bulk retailers by buying non-perishables. According to personal finance website “The Balance,” buying everyday goods like food, paper products and toiletries in bulk can save between 20 and 80 percent 1 on your regular spending, depending on how many (and which) items you buy that way. Bulk buying: There are certain retail chains that were founded on the principle of “buying in bulk,” and they have thrived in their competitive industry for a reason. And when you see your finances improving, you’ll realize how little you needed to get coffee or lunch from a particular spot.Ģ. These are small steps that may disrupt your comfortable routine, but you’ll adapt in time. As for lunch, you’ll save quite a bit of money by “brown-bagging” a home-cooked meal rather than ordering in or going to a deli or restaurant each day. It’s typically far cheaper to make coffee at home and investing in a large travel mug – some can hold an entire pot of coffee! You don’t have to sacrifice quality either, buying whole bean coffee and grinding it right before you brew can lead to an even better cup of coffee than what you’ve been getting from your local drive through. But it may be costing you more money than it has to. Bring coffee and/or lunch from home: If you’re a coffee drinker, you may have developed a daily ritual of stopping at your favorite coffee shop each day before work to get your morning pick-me-up. In such a challenging situation, how do you make small changes to save money without significantly lowering your own standard of living? In the spirit of helping members spend smarter, here are 7 ways to save money on a tight budget.Īffinity’s Top 7 Ways to Save Money on a Tight Budgetġ. But we’re also fully aware that it isn’t easy for most households to save money, living as they do with both regular and unforeseen expenses ranging from daily necessities to a sudden misfortune involving one’s car, home or health.
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