15 Savvy Money-Saving Tricks to Try This Year, Part III

Looking for ways to save money this year? Senior Partners is bringing you our top 15 savvy money-saving tips. In Parts I and II, we shared the first 10 tips.  Here are the final 5 money-saving tricks you can implement today to start spending less and saving more:

  1. Shop around for homeowners and auto insurance (or bundle them together). You can save a tremendous amount of money on your insurance by regularly seeking quotes and even bundling your plans together. If you have not shopped for a new insurance plan in the last 3 years, it is time to look for a new price.
  2. Work on your credit cards.  If you have a high balance, request a credit card rate reduction. Also consider transferring your balance to another card that offers a 0% APR for balance transfers. Plan to pay off your credit card debt quickly and to avoid using them (and only use cash) if possible.
  3. Sell unused items. Do your closets, attic, and spare rooms contain valuable, unused items? How about your car? Are you no longer driving but having a hard time saying goodbye to your car? The money hidden in these unused items can make a substantial impact on your financial goals.
  4. Become more energy efficient. You can replace your old incandescent light bulbs with CFL or LED light bulbs, use a programmable thermostat, unplug unused devices and appliances, and lower the temperature on your hot water heater to save money on utilities.
  5. Move into a less expensive home.  Many older adults do not want to consider this option, but moving into a smaller, less expensive home or area of town can save them a ton of money.  You may be living in a 3,000 square foot home but only use less than 30% of that space. Or you may be living in an expensive assisted living community but could have your needs met by a more budget-friendly community. Relocating should be an option worth considering when looking to save money.

There are a lot of different ways to save money by decreasing expenses – we’ve only shared our top 15 tricks. What are your favorite money-saving tips and tricks? We’d love to hear from you.

The Daily Money Managers at Senior Partners work with each of our clients and families to create realistic budgets, minimize expenses, organize financial papers, and pay bills.

To learn more about our services, please contact our office at (678) 278-8410 or schedule a consultation on our website.

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