1. Stop Paying Uncle Sam to Hold Your Money. If you get a fat tax refund each April, you’re giving the U.S. government an interest-free loan. Stop that. Considering that the average refund is $3000, that money is returned to you without interest. So recalculate your W-4 exemptions, and make adjustments so that you can have the cash NOW, when you need it.
2. Clean House. Sell Stuff. Make $$.
Have a yard sale, sell your stuff on eBay, Craigslist or wherever you choose. You could earn hundreds or MORE! Remember that one person's junk is another's treasure.
3. Examine Your Phone Bills. Save $120 to $200 annually. Take a good look at your phone bill, or call the phone company to get a representative to go over the minutes and data you are paying for. If not, drop your plan down a level and put the money saved into your holiday fund.
4. Drop your landline: Save $400/year.
Are you ready to lose your landline and use your mobile instead?
5. Consider cancelling collision coverage on your old car. Save $$ by dropping the collision and comprehensive auto coverage, which pay to repair or replace a vehicle if it is stolen or vandalized or if you’re at fault in a collision. Do not cancel the liability portion of your policy!
6. Take a brown-bag lunch. If making lunches isn’t your thing, don’t worry. This isn’t a lifetime commitment. For a few months until the end of the year, cut out restaurant food and take your lunch to work. You might even grow to like the money you save . . . or the homemade food you eat!
7. Stop your expensive latte habit: Save as much as $330 per year! Those who regularly buy coffee spend an average of about $1,000 a year. That’s another $60-75 you could save by year’s end if you start right away. (OK, treat yourself to one Pumpkin Spice Latte per week....but after that, brew your own and doctor with flavored creamer.)
Finally -- be proactive and set up a Holiday Club account at your credit union! Commit a regular amount each payday and have it direct deposited right into your account. (You probably won't even miss the money that doesn't first have a chance to burn a hole in your pocket.) Click here for Holiday Club information.
Signal Financial also offers members the opportunity to apply for a low-rate Holiday Loan from November 1st thru January 31st (to take care of debt AFTER the holidays). Stay tuned for details!
For more ways to save, go to MoneyTalksNews.com
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