Save Money Like a Pro!
When it comes to money we all want to improve our skills so we can save money like a pro! After all, every dollar you save can be put to work achieving one of your financial goals.
New habits take time to become second nature, but motivating yourself to stick with new savings habits will be worth it. When you see those extra dollars in your bank each month to use toward your financial goals it will give you a great sense of control and peace of mind.
Here are some ideas that you may like to help you save in new ways.
How to resist impulse buys
It’s easier than ever to spend money on the fly, said Vera Gibbons at MarketWatch, thanks to mobile payment systems and sites that store your credit card info. So if you want to “keep more money in your pocket,” you have to “identify — and eliminate — triggers.” Be aware of your habits, such as whether you tend to make impulse purchases when you’re happy or sad. Be wary of retailers’ tricks, including sales and even “how the store smells, the music that’s playing, and the location of certain items.” And try being patient. If you see something you like, “make yourself wait.” Take a walk and see how you feel about it in 20 minutes when your “emotions have cooled and you’re thinking more rationally.”..
…How to claim old tax breaks
If you missed out on a tax credit last year, it might not be too late to claim it, said Kimberly Lankford at Kiplinger. “You have up to three years after the date you filed your original return to file an amended return and get a refund for the extra credit.” And with some discounts — such as the American Opportunity Credit, which is worth $2,500 per student for each of the first four years of college — it’s clearly “worth the effort.” You need to file a 1040X form for each tax year you are amending, along with any tax forms that are affected by the change. It can take a while — up to 16 weeks — for amendments to be processed, but “reducing your federal tax bill could also lower your state income tax,” so the savings are probably worth the wait…
…Smart savings for seniors
Not all senior discounts are created equal, said Cameron Huddleston at Kiplinger . In fact, money-savvy seniors may sometimes be better off taking advantage of “deeper discounts for the same goods and services available to the general public.” Take banking. A recent study from the Pew Charitable Trusts found that some “senior” checking accounts “actually cost more than basic accounts unless the customer maintains a high balance.” And while many hotels offer attractive discounts for travelers 62 and over, simply defaulting to those discounts may lead seniors to “miss out on better rates offered by discount travel websites and apps.” Retirees who really want to cash in on their senior status would be wise to look for standard discounts that “can be paired with a senior discount to score even bigger savings.” – The Week
More Ideas To Save Money
Here are a few more creative and smart ways to save more money than you ever thought you could!
Did you know that you can negotiate in almost any kind of purchasing situation?
Though you might have previously thought negotiation was only for the bigger purchases such as home buying or car shopping, you can also negotiate at retail stores and online too. You can even negotiate to lower your bills! …
…Slash excess spending.
Every so often, it’s a good idea to track your purchasing history to see where your money is going. An easy way to do this is by using budget apps like Mint.com or BillGuard.com. Then, once you see where your money is going, you can make adjustments where necessary. Do you really need to buy that new iPhone or Android device ever time a new one comes out?…
…Cut monthly bills.
Monthly expenses can bite us if we aren’t careful. Cable is no exception! With the average cable bill being about $99.10, according to Liechtman Research Group, cable and other monthly expenses can really add up over time….
…Switch up your grocery routine.
There is no doubt that spending in the grocery category of your budget can vary a TON from household to household. I’ve read about people who spend anywhere from $70 to $1,500 – for just two adults.
But the good news is, even if you have trouble spending in the grocery category, this is one place where you can save a ton! It just requires a little extra time, a few sacrifices, and some practice. – Clark Howard
So do you have regular money saving habits?