A lot of people think saving up means having to make major lifestyle adjustments, and that’s an intimidating thought. But in truth, there are many ways to reduce spending without needing to make such big changes to your lifestyle.
We’ve got some pain-free money saving tips for you to kick start 2016.
Stay healthy
There is truth to the saying health is wealth. Imagine how much money you can save on medical, health, and life insurance plans if you are a healthy person. And when you’re healthy, you will have the energy and stamina you’ll need to do more and be at your best at all times.
Invest
Start making small mutual fund investments and put your money with low expense ratios. Over time, you will have made substantial savings over your smart investments. Follow the .50% percent rule for all mutual funds and keep the weighted average expense ratio under 50 basis points.
Subscribe to bundles
Identify what your biggest monthly expenses are and see if there is a way for you to bundle them. This strategy does not only help you save money, it also makes it more convenient for you to pay your bills each month because they will all be included in a single billing statement. Ask your provider if there is a way for you to bundle services like Internet, phone, and cable, and you may very well get discounts for it.
Shop online
Online shoppers enjoy lots of discounts and special offers from many retailers on the Internet marketplace. There are many coupons, promo codes, and discounts to be found from various sellers online. So, the next time you need to buy something, check the Internet for great deals first.
Use credit wisely
A good credit standing has its perks. You can get cash back credit cards that offer as much as 5% in rebates. Just remember to use the card wisely and only charge things you need. That way, you can avoid burying yourself in debt and prevent your bill from getting slapped with ridiculously high interest rates.
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