HomePersonal Finance5 Smart Ways to Save Thousands of Dollars Per Year

5 Smart Ways to Save Thousands of Dollars Per Year

Do you ever wonder where all your money goes? What do you spend it all on throughout the year? Is your debt piling up? It sometimes seems that your money doesn’t go anywhere but into bills and other expenses. This may be true. Much of your hard earned pay check will be fed straight into compulsory expenses. This can’t be avoided as rent is due, debts must be paid, electricity is required and you need to eat, right? You may potentially be spending excess amounts of money on hobbies or other habits that could be avoided. You may also maintain some expenses that could simply be reduced if you think about it strategically. Or you could simply remove needless expenses or try and quit your bad habits. Here are 5 ways to help you save a sufficient amount of money per year.

Cancel Your Home Phone Plan

How often do you really even use your home phone anymore? In this modern era, mobile phones are more commonly utilised in most households. Mobile phones are much more convenient and offer more variety through communication options. If you still have a home phone plan, you should consider cancelling it immediately, as it is simply as waste of money (if you don’t, or rarely use it that is) and this could be saved.

Package All Your Services

If you maintain a number of different products or services through the same provider, such as your internet, home and mobile phone plans, you should definitely contact your provider and request to have them packaged. If you have flexible options, you should be able to reduce the total overall cost by rolling them all into one package.

Quit Smoking / Drinking

This is one of the more mentally challenging ideas, but if effective, will save you thousands of dollars individually. Have you ever tried to account for the money you spend on cigarettes or alcohol on a 12 month period? If you have, you will know that it adds up to a substantial amount. If you have strong will power, this will save you massive amounts and also be better for your health. If you think stopping abruptly would make it a real challenge for you, you can transition yourself on using those handheld vaporizers to start your path of quitting.

Avoid Buying Lunches / Dinners

If you are prone to buying lunches or dinners every day, this can be overcome by buying food in bulk in preparing your lunches and cooking your own dinner each night. You will potentially save up to $50 per day by avoiding take out or fine dining every day. The cost of the bulk food is significantly less and a huge potential saving.

Sell Any Unwanted Belongings

This one is a little off topic, but if you have any worthwhile items that you never use, you should consider selling them and saving that money. If you have a goal in mind or a trip or something you are saving for, this will only contribute to it.

There are many ways to help save money each year. Most will be different for each individual person or household. If your debts continue to build, become unmanageable, and you can’t seem to save money, consider contacting professionals such as Fox Symes, and inquire about debt consolidation loans and other services. Professional companies like Fox Symes will ensure you are on the right track for a bright future.


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