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Simple ways to save money that many do not know about

Savings make it possible to feel more confident in their future. And if it seems to you that your budget does not allow you to save money at all, you may not have found a way to save money that is right for you.

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Edition Reader's Digest compiled a list of 19 easy ways to save money that many people don’t know about.

Automate bill payment

When you are seriously trying to save every dollar possible, you may lose the results of your savings in one fell swoop when you suddenly notice that you unintentionally overdue payment on one of the invoices and now must pay a penalty. Brittney Meyer, credit strategist at CardRates.com, offers a simple solution to automate bill payments. It is very easy to do this through online banking and you will never miss a payment again. Mayer believes this strategy will help save consumers about $ 30 per month.

Take advantage of the advantages offered by your card issuer

Many credit card issuers have set up shopping portals and pages offering discounts or bonuses for pretty much everything from buying a cup of coffee to booking a hotel. Use these portals to shop for items you will have to buy anyway, and you can save up to $ 20 per month.

Find a credit card offering price increase protection

Some credit cards will automatically search for lower prices on your recently purchased items and even reimburse you for the difference. This service is called price protection and can save up to $ 1 a year, which is almost $ 000 a month.

Look for credit cards offering cash rewards.

Stop paying with cash or debit card for purchases you can make with a credit card that offers a refund of the amount you spent. Among them there are those that provide up to 6 percent return. And some credit cards offer higher money back rates for certain types of purchases. Find the card that works best for you and it can save you up to $ 50 per month.

Make sure to take advantage of the rewards received

If you are already accumulating credit card cash rewards, be sure to use them. For some credit cards, this is a very simple, almost automatic process. For others, however, you may need to do a few things on the card issuer's website.

Take advantage of other credit card benefits.

In addition to price increases and money back protection, many credit cards offer other benefits, including extended warranties and travel insurance. In this case, you will be able to save an average of $ 15 per month.

Apply for a tourist card from several brands

This is a credit card that the bank creates in partnership with a travel company. Some of these cards offer free luggage for flights, discounts on flights, free hotel accommodation and other services that can make your annual vacation cheaper. On average, this will save you up to 10 dollars per month.

Agree to waive the annual credit card fees

In most cases, if you ask the card issuer to cancel the annual fee for its use, the company will meet you halfway, since it is interested in keeping you as a customer. On average, this can save you up to 30 dollars per month.

Pay attention to credit cards with zero interest rate.

If you usually keep a positive balance on your card, it is worth Consider issuing a credit card with a zero interest rate. Savings will depend on your balance, but you are guaranteed to save something.

Use the money on the card with a zero interest rate to repay loans by regular credit card

Use a zero credit card to pay off credit card debts that carry a higher interest balance. Just make sure you can pay off your debts on a card with a zero credit rate over the coming 12 months.

Agree to lower interest rates on your credit cards

Credit card issuers are often willing to make concessions if a customer asks for a lower interest rate. Your chances of success are much higher than you think, and the money saved can be significant. Don't expect a 25 percent to 15 percent drop, but you can still save real money.

Improve your credit rating

Consumers can make savings simply by improving their credit score. Higher credit ratings can lead to better loan offers, including lower interest rates.

Use the free FICO checkout that credit cards offer.

While you work to improve your credit score, be sure to take advantage of credit cards that offer free monthly FICO (Credit Rating Calculator) checks. This can save you up to $ 15 per month.

Transfer your savings account to an online bank

Have you considered the idea of ​​keeping your savings online? If not, be sure to pay attention to this option. Online savings accounts are capable of earning over 2%. This is a higher interest rate than most traditional banks offer. If you have $ 15 in your savings account, then they can bring you an additional $ 000 a year in savings, or about $ 300 a month.

Download and use applications that offer rewards for purchases.

Another way to save money is by using apps that offer rewards for purchases. Examples of such programs include Ebates, NerdWallet, and Ibotta.

Download the app to protect against price increases.

The Earny Consumer Protection application automatically returns you money for the goods you bought when the price of this product drops. With this program you can get about 2200 dollars per year.

Audit your subscriptions

If you take a very close look at your monthly credit card bill, you will be surprised to find yourself paying monthly for services you never use. For example, Hulu, Netflix, or gym memberships can be helpful if you use them. Otherwise, it's a waste of money, so you should cancel the subscriptions you don't need.

Install an app that checks your running expenses

If you're looking for a better way to track your monthly expenses, the Trim app can do an audit for you. Trim regularly scans your transactions, offers you savings options, and even cancels unused subscriptions on its own. But note that Trim will charge $ 6 for subscriptions that are “hard to cancel,” such as those that require registered mail notification.

Increase your contribution to 401k

Another great way to save money is to increase your 401k contribution. These contributions can be deductible from taxes, so even the slightest increase in investment in this account will lead to additional savings of several hundred dollars a year without affecting your salary.

Read also on ForumDaily:

8 simple habits that will help you earn more in 2019 year

How to train yourself to save money: the advice of psychologists

35 proven ways to postpone for a rainy day

saving savings Educational program
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