Although many things in life are far more important than money, it can also bring many benefits.
The more money we make, the more we can potential save.
Savings can ease stress and worries and may make life a little more enjoyable, so if you are looking for ways to save a bit more cash, look no further.
Here are 4 great ways to make and save money.
Stop buying things you don’t need
Buying things we don’t need is something that most of us do at some time or another. If, however, you start paying more attention to what you purchase, you might be shocked at how much extra money you could save. If your home is full of gadgets you’ve never used or you have an array of belongings with the tags still attached, it might be time to reign it in.
Before buying anything, consider why you want it, how much use it will get, and, probably most importantly, whether you need it. If you decide not to buy it, save the money instead. By the end of the year, you might be shocked at how much you have accumulated.
Open a Certificate of Deposit
Although there are many income producing assets, a Certificate of Deposit is probably one of the least risky options. It works just like a savings account, but your money is locked away for a fixed length of time, which typically results in a higher rate of interest than that of an instant access account.
If you know you won’t need your savings for a while, this may be the perfect solution to generating a decent amount of interest. Investments of up to $250,000 are covered by the FDIC, so it’s a good, low-risk savings option.
Sell things that you no longer have a use for
A simple way to make extra cash is to sell the things you no longer need or want. Buying second-hand is extremely popular these days, so as well as traditional methods like garage sales or eBay, there are many apps and social media groups you can advertise on too.
Set your prices at a realistic level, and not only could you make a bit of money, but clearing your home of clutter can be very therapeutic too.
Use comparison sites
If you, like thousands of others, have an auto-renew service set up for your car or home insurance, you may be spending hundreds of dollars every year unnecessarily. Your existing provider will not typically offer you the best rates, so don’t be fooled into thinking loyalty will work in your favor. By using a comparison site, you can quickly determine the best insurance deals available and could also make some huge savings.
If you intend to stay with your existing provider, give them a ring when your renewal premium comes through. Many will offer you an instant discount if they think they are going to lose your custom, so for the sake of one call, it’s worth picking up the phone.
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