Are you finding couponing to be more difficult than you imagined? Today we are discussing three ways to save money in your household without couponing. Many don’t care for the collecting, organizing, and planning process that is required to successfully execute. Below are some alternatives to saving.
1. Refinance Your Auto Rates- After owning a vehicle for 6 months or so with good payment history, you are eligible to refinance your vehicle. Refinancing can reduce your monthly payments and overall cost. Be sure to check your credit score as well, as this improves your chances of getting a better rate if your score has improved. Be mindful of the terms, however or you could end up paying more.
2. Shop Smarter For Auto Insurance-Keep in mind that auto insurance rates are also based on your credit score, so there’s another reason to get that credit score up. Consider bundling your valuables with plans that cover both home and auto. Reports say 3% to 22% can be saved. Another suggestion is to speak directly with an insurance underwriter. This can be rather difficult as underwriters tend to not speak to clients, but there may be items you do not necessarily need raising your insurance cost. For example, you may have great health insurance with your job or spouse, therefore, you may want to remove that coverage and fee from your insurance.
3. Shop Savvy.- We as a people are so accustomed to convenience and instant gratification. To save while shopping, we must think chess not checkers. Take advantage of out of season sales. Buy your groceries in bulk from wholesalers like Sam’s Club. With meats, you may be better off with stores that purchase locally. Fruit stands are a little pricier, BUT you get it back with your health. Household items and supplies can be purchased from dollar stores like Dollar General or even Dollar Tree (great finds). Review your bank statement regularly to check your spending habits. Keep in mind that “nothing but” purchases account for a bulk of our spending, so look for those while reviewing your statement and you know where to cut back.
There are other ways to save without driving yourself crazy trying to coupon, but they do require work. How much is it worth to you?
-Fancy and David Greer, Financial Advisor and Owner of Greer Enterprises, LLC