Easy Ways to Save $50 This Year


Being bogged down in credit card debt can create a painful financial situation for anyone. While there are many ways people can improve their situations, one of the easiest ways to accomplish this is to simply finds ways they can save money. This allows them to have more money to put toward paying down their debt.

Raise an insurance deductible
With any insurance policy, people will pay monthly premiums and have a deductible they’ll need to cover if they ever need to use their policy. Manipulating their insurance policy could help them save money each year. One way of doing this is for people to raise their insurance deductible. This will increase the amount they have to pay if they ever get in a car crash and need to use their policy, but it will cut down on their monthly payments.

Eat meals at home
One of the biggest ways people waste money is by frequenting restaurants instead of eating meals at home. This is one of the best ways people can save a lot of money each year. Not only do people pay more for food when they eat out, they also pay a premium for alcohol, which can add up over time. While people can still eat out every once in a while, it may be best to not go out a couple times a week.

Cancel the home phone
With the popularity of cell phones, there is little reason to have a land line at home. Not only there is no use for this home phone, it can also be expensive. Simply cutting this service could easily save people more than $50 a year and allow them to have more money to put toward their debt payments. There is no point in paying a cell and land line bill, so cut the home phone off.

Consolidate debt
Another way to save money each year is to attack debt straight on. If possible, people should try and consolidate credit card debt. This can help create a single debt payment and potentially lower their interest rate. However, people who have seen their credit score take a hit since opening their credit cards, it may be best to avoid consolidation as this could result in a higher interest rate and more expensive payments.


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