But you may be holding on to some things that you can actually do without and could really save you some extra cash. You are indeed richer than you think. Read along and I will show you how some of my clients got richer in under 30 minutes.
Cancel monthly services, memberships and subscriptions you no longer use and save big.
Do you seriously need those 500 channels when you only have 7 favourites? No, you don’t. You can cancel your cable TV and choose an Internet TV network that streams video on demand and binge watch your favourites when you want to chill.
If you’ve put yourself in the 80% of people who join a gym and quit going after a few months, then you can also cancel that membership and save your money. Alternatively, you can explore your neighbourhood for walking trails, parks, high school running tracks, pools, tennis courts, get familiar with your local community recreation centre and find out about the activities they offer at an economical rate. Get out there, meet new people and be active.
Ask your credit card company for a lower rate or fee. If you’re having difficulty managing your annual fee and /or interest rate call the company and ask for a reduction. Most of the time you’ll get it. It’s worth a try. Go for it.
Consider raising your insurance deductibles.
Keeping your car and home insurance deductibles low raises your premiums. You can start a special savings account for emergencies and increase your deductibles so you will get a lower premium.
Cut back on energy waste. You will be able to reduce your home utility bills by doing the following:
* Lower the thermostat on your water heater by a few degrees
* Replace all incandescent light bulbs with LED
* Turn down the heat / AC at night or when you’re away from home
* Set your dishwasher to air dry
Reduce driving costs
Cut fuel consumption by removing all the unnecessary stuff you have stored in the backseat and trunk of your car; clean or replace air filters regularly and inflate tires to their correct pressure.
Stay tuned for my upcoming posts, which will give you even more practical tips on how best to save your savings, to grow your money for both short and long term goals. You’ll be surprised at how much more money you can manifest.
Additionally, you can also use your mortgage to accelerate your wealth. Give me a call and I will show you how.