Tag Archives: finance

Simple Ways To Lower These 5 Monthly Bills

bills, money, expenses, monthly costs, budget, finances

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Many people are looking to cut costs at the moment. Finding ways to reduce your monthly bills could be one way to do this. While there are many long-term investments you can make to reduce your bills such as installing solar panels to reduce energy bills, there are less drastic measures that you may be able to implement immediately. Below are some examples of how to reduce these 5 bills.

Energy bills

Heating/cooling accounts for about 48% of the average home’s energy consumption. By relying less on heating and cooling, you could reduce future bills. Wrap up warm in winter and rely more on fans in the summer (these use a fraction of the electricity of air con). Beyond heating and cooling, consider other appliances that guzzle energy. Washing machines, tumble dryers and dishwashers can account for 14% of household energy usage – make sure you’re not washing/drying half-loads and use the right wash/dry settings to reduce energy usage. 

Insurance premiums

When was the last time you shopped around for insurance?  You could potentially save money on your health insurance premium by switching to another insurer. Many people stay loyal to one insurer because of incentives like no claims bonuses, but you may find that there are still cheaper deals out there to grab new customers. It’s worth noting that ringing up insurance companies and asking for a price can also sometimes get you access to better deals than you might be offered online. 

TV/internet bills

TV/internet is something you can also usually haggle down the price of if you’re willing to ring your provider up. If you threaten to leave, you will often be offered very low exclusive deals by a sales rep to stop you from leaving – these deals are worth taking advantage of. It’s also important to consider what services you actually need. Are you paying for channels that you don’t watch? Reducing the channels available could help you access cheaper rates. 

Credit card bills

A simple way to lower your credit card bills is to stop flashing the plastic as often. While paying by credit card can come with incentives and rewards, every purchase you make becomes a debt with interest fees. Switching to your debit card for everyday purchases can lower your credit card bills. Focus on paying off as much of your credit card bills as you can to reduce interest fees – you shouldn’t be regularly maxing out your card. Make sure you’re also taking advantage of the rewards offered by your credit card.

Loan/finance repayments

Loans and finance repayments can take their toll on our finances. It’s important to consider how much interest you are paying and whether it would be worth refinancing. This involves paying off high interest debts with a lower interest loan. Many people are able to save thousands by refinancing mortgages and car finance. Just be wary of exit fees charged by some lenders – these can sometimes make refinancing not worthwhile.

Simple Ways To Lower These 5 Monthly Bills

bills, finance, costs, money, payments

Pixabay. CCO Licensed.

Many people are looking to cut costs at the moment. Finding ways to reduce your monthly bills could be one way to do this. While there are many long-term investments you can make to reduce your bills such as installing solar panels to reduce energy bills, there are less drastic measures that you may be able to implement immediately. Below are some examples of how to reduce these 5 bills.

Energy bills

Heating/cooling accounts for about 48% of the average home’s energy consumption. By relying less on heating and cooling, you could reduce future bills. Wrap up warm in winter and rely more on fans in the summer (these use a fraction of the electricity of air con). Beyond heating and cooling, consider other appliances that guzzle energy. Washing machines, tumble dryers and dishwashers can account for 14% of household energy usage – make sure you’re not washing/drying half-loads and use the right wash/dry settings to reduce energy usage. 

Insurance premiums

When was the last time you shopped around for insurance?  You could potentially save money on your health insurance premium by switching to another insurer. Many people stay loyal to one insurer because of incentives like no claims bonuses, but you may find that there are still cheaper deals out there to grab new customers. It’s worth noting that ringing up insurance companies and asking for a price can also sometimes get you access to better deals than you might be offered online. 

TV/internet bills

TV/internet is something you can also usually haggle down the price of if you’re willing to ring your provider up. If you threaten to leave, you will often be offered very low exclusive deals by a sales rep to stop you from leaving – these deals are worth taking advantage of. It’s also important to consider what services you actually need. Are you paying for channels that you don’t watch? Reducing the channels available could help you access cheaper rates. 

Credit card bills

A simple way to lower your credit card bills is to stop flashing the plastic as often. While paying by credit card can come with incentives and rewards, every purchase you make becomes a debt with interest fees. Switching to your debit card for everyday purchases can lower your credit card bills. Focus on paying off as much of your credit card bills as you can to reduce interest fees – you shouldn’t be regularly maxing out your card. Make sure you’re also taking advantage of the rewards offered by your credit card.

Loan/finance repayments

Loans and finance repayments can take their toll on our finances. It’s important to consider how much interest you are paying and whether it would be worth refinancing. This involves paying off high interest debts with a lower interest loan. Many people are able to save thousands by refinancing mortgages and car finance. Just be wary of exit fees charged by some lenders – these can sometimes make refinancing not worthwhile.

Buying a Used Car: 10 Tips for Negotiating the Best Price

When it’s time to buy a car, you have a lot of different options. But, if you’re on a budget, a used vehicle is usually the way to go. The key is simply to pick a reliable used car from a reputable seller or dealer.

Also, keep in mind that you don’t necessarily have to pay the asking price. Instead, you can and should negotiate to get the best deal possible. If you’re new to negotiating or just need some tips on how to do it, these ideas should be a big help.

Tip #1: Decide On Your Budget Ahead Of Time

Everyone has a different amount that they are able to spend on a used car. To avoid overspending and potentially landing yourself in financial trouble, sit down and take a look at your finances. Think about whether you want to pay for the vehicle outright or if you’d prefer to make payments. From there, make an informed choice about how much you can spend.

Setting your budget ahead of time can help you avoid rushed decisions. It can also stop you from settling for a price that’s unfair or more than you can afford. Remember, when it comes to used cars salt lake city residents have plenty of possibilities. If one dealer or seller won’t give you the price you need, another one will.

Tip #2: Invest Time In Understanding The Market

Used car prices vary depending on a range of factors. The make, model, and age of the car all come into play, as does the area in which you live. To avoid overpaying, spend some time familiarizing yourself with the market. Find out the average asking price of similar used vehicles in your area.

Additionally, check up on the initial value of a particular used car, as well as its current value. Don’t be afraid to let the seller know that you have done your research. Buyers who can demonstrate that they are knowledgeable and informed are more likely to get a fair price.

Tip #3: Explore The Market Thoroughly

In addition to researching the market and how it functions in your area, do some exploring. Call local used car dealers and inquire about any special deals they may have going on. You can also ask friends and family members for used dealer recommendations.

Sometimes, they may even be able to recommend a specific salesperson they found easy to negotiate with. Plus, if you’re willing to travel, it may be worthwhile to check out surrounding towns and what their used car scenes look like. The more work you put in, the better your chances of landing a great deal.

Tip#4: Keep An Eye Out For Small Flaws

Some used cars may have small issues or imperfections. Some of these flaws, like the lingering smell of cigarette smoke or a tiny dent or chip in the paint, can actually be a huge asset to you as a prospective buyer. The reason is that these things are often very easy and inexpensive to fix. But, if you point them out to the dealer, they may be more likely to come down on the price. So, as you explore potential cars, be on the lookout for anything you can use to argue your case for a reduced cost.

Tip #5: Try To Improve Your Credit Score

If you’re planning to finance a used car, rather than paying the total cost upfront, and you have a little time, work on getting your credit score as high as possible. Paying down old debts or maintaining a perfect on-time payment history are just a few things you can do to help drive up your credit rating. Often, the higher your credit score, the better the financing terms and interest rates you can get. As a result, you may find that you end up paying less for your vehicle over time, especially if you can also get the dealer to come down on the total price.

Tip #6: Dress For Success And Show Respect

Many buyers don’t give a lot of thought to what they wear when they show up at a used car dealership. Surprisingly, though, how you dress and how you act might play a role in the price you pay. Since you have nothing to lose, why not dress for success? Try to look nice, presentable, and in control. You don’t have to arrive in a suit and tie, but you want to dress nicely and in a way that commands respect.

Furthermore, be respectful. It’s okay to be firm on your asking price, but you should also be polite and courteous. How you dress and speak may be small things, but they can affect how a seller views you and treats you, as well as how willing they are to work with you on price.

Tip #7: Negotiate On More Than Just The Sales Price

When people think about negotiating, they tend to think mainly of the actual sales price of the vehicle. Keep in mind, though, that there are actually several costs involved when purchasing a vehicle. Things like title fees, documentation fees, and warranty fees can quickly add up and increase the amount you have to pay, even if you negotiate a reasonable sales price. The good news is that these fees are sometimes negotiable as well. So, while you’re working to get a good deal on the car itself, also try to negotiate on other fees.

Tip #8: Take Your Time When Needed

Even if you’re an incredible negotiator, not every dealer or seller will automatically accept your asking price. Frequently, they’ll come back with a counteroffer, which may be slightly or even significantly higher than what you asked for. However, you’re under no pressure or obligation to say “yes” to this counteroffer.

Even if you want a car badly, know that it’s okay to take your time. In fact, sometimes taking your time can work in your favor. The seller may fail to find a buyer and then ultimately agree to your original asking price. Even if that doesn’t happen, remember that you’re the one making the purchase and you’re the one in control. Use that upper hand wisely and trust that the right vehicle and the right price will eventually come along.

Tip #9: Keep Your True Feelings To Yourself

As mentioned, you want to show up at the dealership looking polished, professional, and put together. While that strategy can help you exercise your upper hand, it won’t help you if you lay all your cards out on the table. No matter how desperate you are for a car or how badly you need one, don’t make this clear to the dealer or seller.

You don’t have to lie, nor should you, but you can also keep your reasons and needs to yourself. The more stoic you are, the less likely you are to get manipulated into paying more than you should. In short, don’t make any vulnerabilities known, and they can’t be used against you.

Tip #10: Choose A Seller You Can Trust

While all of these negotiation tips are helpful, you may not have to use any of them if you find the right seller or dealer. Believe it or not, there really are some good, honest dealerships out there. There are sellers who want to help you and offer you the best price. Thus, whenever possible, find dealerships with good reviews and that emphasize honesty and integrity. A trustworthy seller can make the whole process much easier and faster, as well as less stressful.

Buying a used car can be a positive experience. You just have to go into it with the right attitude and mindset. Choose your seller wisely, keep these tips in mind, and don’t settle for less than you deserve. If you can do those things, you can’t go wrong.