6 Ways to Make Your Budget Go Further
by Jillian Gaietto on Feb 26, 2018
Bills, rent and saving for retirement makes every payday a budgeting reality. So in these times, it’s important to take some relatively easy steps to stretch your budget.
Pay your credit card balance in full each month
Often people overlook where their money is going when it’s as easy as a tap, not to mention interest and fees. If you don’t pay your credit card balance in full each month, you will be paying steep interest rates on the balance. That interest rate could easily be 15% to 20% or more annually. If you are looking at an unavoidable big purchase, make sure to sign up for a credit card with a 0% interest rate at the startup and pay it off before that limited time runs out.
Only use ATMs affiliated with your own bank
When getting cash from ATMs, use only those affiliated with your own bank so you can avoid the transaction fees charged by “foreign” banks. These fees typically run $2 to $3 per transaction. Or get a card from a bank that absorbs fees.
Watch your use of auto-payments
Make sure you’re truly keeping track of your bills. Auto-payments make it too easy to let month after month go by without tracking each item spent. It is easy to get carried away with certain expenses in your budget.
Look at your household bills each month
Telephone, cell phone, cable/satellite, internet service provider, and trash removal service. Can any of these be reduced by switching service providers? Do you use all the calling features you pay for? Do you watch all those channels in your current cable or satellite package?
Consider getting rid of some of your non-essential household items
If you have a cell phone and a home phone, perhaps you can give one up. If you don’t mind watching television shows a bit after the premiere, you can save money by getting rid of cable or satellite service.
Look for items to resell
Need some extra cash? Look through your closets and attic for stuff to sell on the various resale apps or websites. Did you know that the average household has more than $1,000 worth of items that could be auctioned off for cash?