Extra money, where's yours?

If you're a normal human being, the subject of saving money has crossed your mind at least once recently. If you watch the news and hear about the grim economy, you've thought about money. If you have kids that will be starting school soon, you most certainly have thought about money. I have been thinking about it day and night it seems. Since I have demoted to being a very part time employee and devoted my time to my kids, money has been at the forefront of my mind. I've thought about saving more, spending less and keeping a tight budget and I have recently put some idea into action.

First off, we all have bills. Rent, mortgage, car insurance, electricity, cable, gas, cel phone, car payments.... the list just goes on and one. But, how many of us really look at each bill before we pay it every month? I mean, when was the last time you looked at your car insurance bill before sending the check or signing up for auto pay? I admit, I don't dig deep into my car insurance payment. I do notice that it fluctuates every 6 months by a few dollars, but I didn't know why. So, a few days ago, I had to call up Geico and correct some info and i thought I'd ask for an explanation as to why the fluctuations. Apparently it's just the cost of repairs and medical expenses that the company has to pay out. Sometimes it goes up, sometimes it goes down. I've also had the same policy for 11 years and haven't had my rate reviewed. OK, so, let's review it. After about half and hour and lots of praise over my driving record and credit score, my bill goes from $414 to $236!!! Holy shit, that's a big difference! Not bad for just calling to correct my address. Maybe you should give it a try. Call up your insurance agent and see if you qualify for lower rates. It saved me an extra $35 a month! That's a tank of gas for me!

Next bill.... your car payment. Wells Fargo owned my car and it was so hard getting info on my loan form them. When I bought the car, interest rates were still pretty high, but have come down a bit since then. So, I shopped through my credit union and found that I was eligible for an interest rate of 3.49% compared to the 5.9% I had been paying. It as only $50 to switch lein holders, which was a good deal when comparing the interest rate I was getting! Not bad! Not Bad!

How about credit cards? Do you read your statement every month? Do you know how much interest you're paying on them? I actually do print out my statements and keep a list of my interest rates. It's just smart to do so. It's been a while since I've checked up on the interest rates, though. A few years ago, when my husband lost his job, I got on the phone with each of my credit card companies and bargained for lower rates. More than half of them were able to lower my rate based on my credit and my account history. All you have to do is ask. I also was able to sign up for a "pay on time" bonus with one card that paid me back for making timely payments. That's a great perk! I am currently reviewing my credit cards again and I have found that my credit union is offering a great introductory rate to transfer balances and after that, I qualify for a great low rate because of my credit score. I'll be taking them up on that offer and transferring my balance over to their card. I'll also be saving an extra 1% off the APR by direct debiting my payment! Woohoo!! Gotta pay off the new wedding bands we bought to celebrate our anniversary this year!

What about utilities?? You should review those bills every 6 months at least. Every summer, I make sure my gas bill stays under $25 since we're not using heat or hot hot water. If it's not that low, I check around my house to make sure my water heater is set lower and there aren't any taps leaking. One year, my gas bill stayed at about $60 during the summer, so I called the gas company and it turned out we had a leak. It was fixed and my bill dropped back down. There's no way I wanted to pay for a gas leak! Not only did it save me money, but it's dangerous to have a gas leak! So, check out your gas bill and know what it should be each season. Do the same with your electric bill. Know what your average balance is each season and if it goes too high, try to figure out the cause. As far as electricity goes, I keep my thermostat at 77 when we're home, 79 when we're out. I've changed out a lot of my light bulbs to the energy smart ones. I've also been unplugging my phone chargers during the day. Every cent helps, right??

And now, how about your cel phone bill? Those suckers are getting more expensive as technology advances. The first step is seeing if you qualify for a discount through your employer. A lot of employers can save you from 10%- 20% off your monthly bill. I have a savings of 17% currently. Check your plan out too. Are you paying for 1000 minutes when you only use 425 a month? There's potential savings there. See if your provider offers free evenings and weekends or free cel to cel calling. Both can give you savings if you lower the amount of minutes you pay for each month. Also, how about your data plan? Is it more efficient to get limitless or no? How much are you on your phone during the day? The key is to pay for only what you use and not more than that. Also, if you have an insurance plan on your phone in case you drop it in the toilet or damage it somehow, is it worth it for you? If you tend to drop the thing, yes, it probably is. If not and you upgrade it frequently, probably not. There is potential savings if you really take the time to look into your bill and analyze what you are paying for each month.

Well, I'm out of time. We'll see what other tips I can come up with. I should track my savings for the month with all that I've done for my family! I hope I have helped you think about saving a couple bucks! Ya know, Christmas really isn't that far away. It's time to start saving for the XBox.