Personalfinance tips

Save Money on Travel

Travelling can be super expensive, but if you're smart there are a lot of nifty ways to save big on travel. Check out these posts to learn more:

  • How to Travel on a Budget and Still Have the Time of Your Life
  • 52 Ways to Save Money on Travel

Check Your Credit Report for Free

Your credit report is an important piece of your financial identity. Whenever you apply for a new loan or credit card, companies will check your credit report to see how good you are at paying off debts. Some employers will even check your credit report as part of the application process. So as you can see, your credit report is pretty essential. That's why it's important to check your credit report regularly, but this usually costs money. That's why I recommend using Credit Sesame (or Borrowell if you're Canadian). With either of those tools, you can check your credit report for free with ease.

Keep Your Car Maintained

When it comes to car maintenance, it's a lot easier to ignore that weird noise coming from your engine than it is to schedule an appointment with your mechanic. However, ignoring a weird noise can cause a lot more trouble than it's worth. A few months of waiting could be the difference between a quick & cheap fix and a not-so-quick OR cheap fix. Bottom line: Keep your car regularly maintained. Whether you do it yourself or bring it into a mechanic doesn't matter, just keep it maintained. It will save you money in the long run.

Make a Christmas Fund

This is a money saving tip that a lot of people never think of, and it's a lifesaver. If you're anything like me, you put off your Christmas shopping until the very last minute. You then go online or to a mall and you start buying everything you see because giving people gifts is a blast! This is all very fun, but then you check your bank account, and it doesn't seem very fun anymore. That's why it's best to have a Christmas fund. A sum of money set aside strictly for Christmas. You could do this for other big holidays as well.

Create a Saving Reminder

This is a simple money saving tip. All you need to do is put a saving reminder somewhere (mines in my wallet) that has something like “Are you saving?” on it. Every time you pull out your wallet to purchase something you'll see that note, and it might help you from making a wrong spending decision.

Think of Cost in Terms of Time

Have you ever seen that science fiction movie “In Time” with Justin Timberlake? In that movie, time is literally money. They pay for things with minutes and when they run out, they die. Luckily we aren't going to die if we spend too much money, but it can be interesting to think of your purchases in terms of time instead of money. For example, if you make $25 an hour and you want to buy a new car for $10,000, that's going to cost you 400 hours of work. That's over 16 days of your life. If you start thinking of your purchases like this, you might be less inclined to waste your money time on things you don't need.

Do It Yourself

There are a lot of little DIY things you can do around the house to save some money. If you've got the extra time and a bit of handiness, head over here to get 50 nifty DIY savings tricks.

Update Your Phone Services

Did you know that the average phone bill is around $70 per month? If you haven't looked at your phone bill recently, you may be paying a lot of money for services that you don't even use. It's a good idea to look through your services and figure out which ones you don't need, that way you can switch to a cheaper plan. If you want to save a lot of money on your phone bill, check out Ting. The average Ting bill is just $23 per month, and they're super customizable.

Carpool

Ok if I didn't persuade you to hop on the public transit train (or..bus I mean) then this is the next best alternative. Find someone you work with that you (hopefully) like, and that also lives near you, and ask them if you can carpool to work with them. Don't be a freeloader though, at least offer to pitch in for gas.

Take Public Transit

If you live in an area with a good public transit system then you're better off taking the bus instead of paying for a car, gas, insurance, and maintenance. Sure, public transit can be noisy, annoying, and sometimes nasty, but it's also a great way to save money, and it's better for the environment. Also, think about all the fun stuff you can do on your way to work since you're not driving: you could read a Blinkist book, play a game, listen to music, work on your blog, or you could even take a nap!

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