5 Money Saving Tips Anyone Can Use

Looking for ways to cut back your expenses?

money savingsWith prices on just about everything going up, it is pretty common to start searching for ways to cut back costs and stretch your dollar a little further.

Page, Lobo, Costales and Preston APC would like share some helpful tips to saving money that just about anyone can use:

  1. Call your electric company to see how you can save money. Many offer free energy audits to see where your utility dollars are going. You can then make changes and repairs to various areas of your home to save some electricity. Also unplug EVERYTHING when you are not using it. Even phone chargers, TV’s and computers are using electricity even if they aren’t turned on!
  2. Make your own repairs at home instead of hiring someone. Many stores such as Lowe’s and Home Depot offer free Do It Yourself classes where you can learn how to make minor improvements to your home all by yourself.
  3. Pay down your mortgage or put that extra money in savings. If you make an extra mortgage payment each year you can save thousands of dollars in interest of the course of a 30 year loan. However, if your interest rate is already pretty low (in the 4-5 percent range) you may be better off contributing to a 401(k) plan or paying down your higher interest credit cards.
  4. Ask for your interest rate to be lowered. If you have good payment history with your credit card company, they may agree to lower your interest rate if you just simply ask.
  5. Review your insurance rates. Many times your home and auto insurance rates can be lowered. Ask your current provider to do a review and shop around for other lower insurance rates as well.