Making sacrifices and making smart purchases leads to spending less. This is a concept that we are all familiar with when we think about how to save on our next grocery shop or utility bill. By finding special deals, opting for lower quality goods, and refraining from unnecessary actions we can save a lot per month. It may be painful, but sacrifice we make from cutting back on vacations, resisting the urge to eat expensively and buying fewer clothes, can be an effective means of saving.
So if you are searching for methods to save, begin adopting money-saving techniques that are mostly pain-free such as cutting back on unnecessary insurance, improving your credit score and using effective and efficient financial tools like a Visa prepaid card. Without making huge changes to your lifestyle, here are 5 tips to help reduce spending:
1.) Opt for Prepaid
This first step to budgeting successfully is an important one. You will need to designate a safe location to place your money. Earmarking your money and separating the amount for your main savings and that designated for spending is a great way to keep yourself accountable. A sum of money that is put aside specifically for your monthly spending budget and then loaded to a Visa prepaid card is a great habit to develop.
A Visa prepaid card can be used to complete purchases in-store, online and even withdraw cash from various ATM machines worldwide, like a traditional credit card would allow. Where the two cards differ is that a conventional credit card is linked to a credit facility, and a prepaid card is not. This means that once the money in the card is depleted, you will need to place more money in the card before future purchases can be completed. Rest assured that if your prepaid card has an insufficient balance, the transaction would be declined when you attempt to make a purchase. This simple truth makes prepaid cards attractive to those who never wish to be in a situation where debt and ever-amounting credit card bills are a concern. Go to www.t24blackcard.com to kick start your prepaid card application today!
2.) Improve You Credit Score
Arguably the most integral, and painless, way to save money is to improve your credit score. From automobile loans to home loans, future credit cards and insurance of various types, your good credit history can result in immediate savings. Over a long period of time, these savings can add up to a significant amount.
Additionally, a Visa prepaid card can be a great solution for people who never want to risk negatively impacting their credit history while completing large transactions. Traditional debit or credit cards are linked to a line of credit or your bank account. Prepaid cards are not. As such, purchases made with a prepaid card won’t have any impact on your credit score.
3.) Get Healthy
Staying in shape and eating healthy is easier said than done. Individual health insurance plans and life insurance plans are more affordable for those who are in good shape. Thus, those who actively try to get or be healthy will see savings. Feeling better and having better is an added bonus!
4.) Rethink Auto-Insurance
Re-examine your insurance policies, annually, to spot saving opportunities. Consider raising your deductible limit, which in turn, will result in lower premiums. Another popular idea to consider when you want to pay less for your auto insurance will be to think about looking for something similar to no deposit car insurance uk plans which will allow you to spread the cost of your premium over monthly instalments instead of paying the full amount in one go. In this instance, either method is just as effective as the other, so be sure to research all options available to you before making your final decision. You may find that an older vehicle, for example, doesn’t really require collision coverage, the part of auto insurance, which covers damage done to your vehicle when it hits, or is hit, another object. Comparing auto insurance quotes annually should be a habit as well.
5.) Think Triple Play
Cable, phone and Internet service can amount to be one of the biggest monthly expenses for your household. Many service providers offer discounts if you opt to bundle all three services together. The industry term is ‘triple play/, and can result in saving you some money and affords you the convenience of a single bill for these utilities.
When it comes to utilities, consider using a prepaid card as the method of payment. Once loaded with sufficient funds prior to the due date of the payment, the prepaid card can be setup for automatic billing. The amount of the bill will be deducted automatically from the prepaid card, once or on a recurrent basis. Setting up your Visa prepaid card for recurrent billings eliminates any chance of having your credit card overcharged, a security features not provided by traditional methods of payment like debit and credit cards.
Please visit www.t24blackcard.com to learn more about prepaid cards as an effective payment method and money management tool.
6) Product Swapping
One way to make your money go further is by purchasing products that will last you longer or that you’re never going to have to replace. For example, Get Shave Advice recommend buying safety razors are so much more cost-effective than purchasing expensive disposable razors all the time. Razor than sacrificing the quality of the disposables you purchase, you can get the same quality at a lower price. Make saving smart, not hard.