Making a few small changes can get your spending and savings on track. We often share information about settings goals, creating a budget, and curtailing spending (visit our financial wellness page for more on that). But have we mentioned these tips?
- Negotiate prices. You don’t have to be buying a car or a house to hone your negotiation skills. When you’re shopping online, for instance, you can request free shipping if it isn’t already offered. Or, you can send
an email saying you saw the item at a lower price elsewhere and ask them to meet the price.
- Cut monthly bills. Monthly expenses can add up. For instance, the average cable bill is about $99. Could you stream your shows and movies instead? One popular player costs just $30 to purchase and there are no monthly fees. Waste
removal is another place you can save money. Try switching to a smaller-size garbage bin and see if it’s sufficient.
- Look for deals at the grocery store. When meat nears its expiration date, the discount can be as much as 50%. Just be sure to use it or freeze it promptly. You can also save by using generic items instead of name brands. And when
you notice sales, try to plan your meal prep around those items.
- Change your car. If your car payment is more than 10-15% of your monthly income, you may want to trade it in for something with a lower monthly payment, or pay cash for a less expensive vehicle.
- Reduce energy costs. Program your thermostat to turn on and off at certain times, turn your water heater down (often it’s higher than it needs to be), and replace your light bulbs with energy-efficient bulbs to cut your home
energy costs every month.
- Transfer debt to a lower-interest card. Transferring high-interest balances to one, lower-interest-rate card helps you cut monthly costs. To transfer those high-interest-rate balances to your RCU Visa® card (with
no balance-transfer fee), visit redwoodcu.org/balancetransfer.
When you look at your bills one at a time, they may seem insignificant, but added together, they can put a dent in your budget. Try one or more of the above ideas and for more tips on saving and spending, visit redwoodcu.org/financial-wellness/get-started.