Do you plan a budget but often wonder why you're not able to save a certain amount which you thought of? Or, unknowingly you put extra pressure on your budget plan in order to include some expensive items in your list. Here are a list of such items where you can save money if you wish to.
- Expensive vehicle insurance policy Ã¢ It is required by law to have a car insurance policy if you own a car. However, you might be paying more for the insurance policy. To avoid it, shop around and weigh the price against the coverage offered. This will help you purchase required coverage at low rate.
- Not keeping vehicle tires inflated rightly - You might not know that if you don't keep the tires of your vehicle properly inflated, it can actually worsen your gas mileage. You won't notice how much extra you're paying on gas. So, check your tire pressures at regular intervals.
- Paying money for car-repair work - Have you ever thought how much you pay for your car maintenance in a year? When you own a car, you can learn some routine maintenance work required for your car. Usually, you don't need a professional to fix each of your car problems. Moreover, there are several DIY videos and articles which you can search online, with the help of which you can do your own car maintenance.
- Paying more on credit card interest Ã¢ Studies reveal that an average American family with at least one credit card usually carry about $16,000 balance. If you have a credit card with a relatively higher interest rate, you might be wasting a substantial amount. If this the scenario with you, then you can opt for consolidation to repay your credit card debt at a low interest rate.
- Taking out a mortgage loan with high interest Ã¢ Owning a home is one of the biggest financial investments; however, you can reduce this financial burden by choosing a mortgage loan with a comparatively low interest rate. To do so, you need to shop around and if possible make a higher down payment. It will help you make your mortgage loan more manageable and able to make the monthly payments on time.
- Using items which you might live without - You might think that fabric softeners and dryer sheets are must for laundry. However, in reality, it is not so. If you are really worried about keeping your clothes in good condition, you can stop wasting your money on chemical products and make DIY products instead. You can save your electricity cost by line-drying your clothes instead of machine drying. You might not have to iron each and every garment if your line dry them.
- Washing your garments after wearing it once - If it is not a very sweaty summer, it's not necessary to wash your garments after wearing it only once. Instead, make some DIY spray to keep your clothes looking and smelling fresh.
- Opting for speedy shipping Ã¢ Have you ever paid extra for speedy shipping? Often you feel that you cannot wait one more day to have an item delivered to you; however, before paying the extra bucks, think twice to confirm that you actually need it. If you can wait for two days, you can use the money, you save, elsewhere.
- Purchasing food items from gas stations - Tell yourself that you go to gas station to fill your car, not to empty your wallet. You might not have taken into account how much amount you spend every month while buying coffee, soda and snacks from the gas stations. Instead, always have fluids and snacks in your car so that you can avoid such temptations on road.
- Going for big brand names Ã¢ You can substitute brand name products with generic ones in order to save a considerable amount. Just think once Ã¢ Is it worth to flaunt a branded garment by spending hundreds of dollars? You can very well save that amount in order to build a secured financial future or to lower your outstanding credit card balance.
- Buying items at wrong times - If you keep a track you'll notice that most items are marked down at certain times of the year. Therefore, plan your purchases during that time in order to take advantage of the reduced price. For example, you can plan your purchase during the festive season; that is, from Thanksgiving to New Year.
Most importantly, being disorganized can cost you dollars. It might happen that you misplace your phone charger or your expensive jewelry. To find these items, try to clear the clutter in your house. It is a very good habit to try to clear clutter at home where you might find the items you've lost, which otherwise, you might need to purchase. And, from next time, make a designated place for each item and try to keep the item at proper place in order to keep them safe and handy. Doing so, you can prevent wasting your hard-earned dollars and in turn, you'll be able to manage your personal financial situation in a better way.