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Saving a Few Extra Dollars Every DayBelieve it or not, there are a few simply things you can do in order to save a few extra bucks on a regular basis and to put more money in your pocket.
Max Out The Amount You Save
Take full advantage of your savings opportunities. One of the best ways to put extra money in your pocket down the road is to up the amount you contribute to your 401(k). If you add $1,000 per year to your 401(k), and you receive a 50% match from your employer and get a return of 7%, you can expect an extra $153,110 in your retirement fund after contributing this amount for 30 years. Keep an eye on the maximum amounts you are allowed to put away in your 401(k) and try your best to reach it.
Make Your Credit Card Work for You
By using your credit card wisely, you can avoid paying finance charges and actually make a little money in the process. Get a rewards credit card that will pay you back in the form of cash or airline miles. Then, make all of your purchases on the card – including paying your monthly bills such as utilities and cell phone charges – and pay the card off at the end of each month. Be sure to always pay the card off. Otherwise, you will pay out quite a bit in finance charges. But, by making all of your purchases with your card, you can earn back quite a bit of cash.
While you are at it, look at getting your credit card fees waived. Often, if you simply call the credit card company and ask that they waive fees such as annual fees, they will comply. With competition among credit card companies being so fierce, waiving this fee is worth it to the credit card company if it means keeping your business.
Save Money on Your Car
The price of gas is no laughing matter, but you can reduce the cost by filling your tank with only regular gasoline. Unless your engine is turbocharged or supercharged, there is no reason to use a higher octane fuel. Using regular gasoline won’t hurt your engine in any way. In fact, all it will do is hurt you in the pocket book.
While you are at it, when it comes time to get a new car, purchase a used one rather than a new one. Cars lose about 30% of their value within the first year. Make your dollars stretch farther and get a used car you love for a lower price.
Take Advantage of Communication Deals
If you have your local and long-distance calling plan from two different carriers, you are probably spending more than you need to on communication each month. Throw satellite or cable and Internet access into the mix and you could be spending two or three times as much as you need to. Order a bundle service from one provider that includes all of your communication needs and you can really save. And, it makes it much easier on you when you only have to deal with one company and send payments to one place.
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