Mar 272010

You just might be able to find a way to save money today if you just stop and take the time to get your financial house in order. Over time, we tend to let some of the little things build up that could be saving us some money in our budget. Little things like the wrong cable or internet package or credit card, or not shopping around for the cheapest insurance. Sometimes it’s easier to let these things slide and stick with what we know. But, it would pay off to take a little time a few times a year and review your expenses and budget.

Here’s a few quick tips to save money on your personal finances:

  • Take a look at how much you contribute to your retirement savings like your IRA or 401(k) plan. See exactly how much your employer will match of your contribution and, if you’re not there yet, increase your own retirement contribution. One of the ‘easiest’ ways to save money is to put it away before you even realize you have it.
  • Cut you cable bill…or ditch cable altogether. If you don’t do so already, you might be amazed how many shows and movies you can watch online. And this doesn’t mean necessarily ditching the TV. You can connect you laptop to your TV with a simple connection. Do a little research on this and you’ll be amazed what’s not possible. And, you can also get quite a few channels, in digital, with a simple antennae watching over-the-air free broadcasts in your area.
  • Shop around for the best bank.  It might be a hassle getting all your automatic deposits and bill payments changed over, but you can possibly save a bit of money doing so.  In addition to not paying fees, it’s quite possible to be earning interest on your balance.  There are a lot of choices out there now and it would be in your best interest to shop around for the best deal.
  • If you use your credit cards, by all means pay them off every month.  Do not give away money to credit card companies through exorbitant fees and interest rates.
  • Better yet, find a card you can use for cash rewards.  It will definitely take some work, but it is quite possible to find a card that will give you a decent cash reward…nothing better than cashing a check from your credit card company.
  • Compare auto insurance rates every time your policy comes up for renewal.  Don’t get complacent with your policy when you might find a better deal elsewhere.  Many companies will give a discount if you have an auto and home policy with them, so make sure to consider that option as well.
  • Make sure you aren’t over-insured on you auto insurance policy.  While you busy checking for new rates, revisit exactly what coverage you have and what you might need.  It doesn’t always make financial sense to keep full coverage on your ten-year-old car if the replacement value has dropped too much.

A lot of these suggestions and tips to save money might take some time to implement.  Of course it’s probably easier to just continue paying on those accounts you’ve had for years, but you could be leaving a lot of money on the table.  Revisit these payments and accounts regularly, set aside a few hours each month for some research and start putting more of your money towards investments and assets.

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