Saving money may sometimes seem like an impossible challenge, but odds are there are one or two money leaks that most people aren’t aware of. The following are four ways to save money:
- Cancel old vehicle insurance. In addition to having a primary vehicle, some people also have secondary or third vehicles. If they never use their secondary vehicles, they should consider either selling them or stopping their insurance on them. For example, there’s no point in paying insurance on a motorcycle that’s been gathering dust in the garage for years. The amount being paid on insurance for such an unused vehicle can add up to be substantial.
- Check for bank fees. Many bank customers don’t realize that their banks are charging them fees for certain things. For example, some banks charge their customers a fee if they don’t retain a certain amount in their savings account each month. Customers should check with their bank to see if any such fees exist and find out if they can switch to an account that doesn’t have such fees.
- Avoid ATMs. Out of network ATMs usually charge a small fee – usually around two dollars. This may not seem like much, but some people find themselves using the ATM on a regular basis, which means that those fees could add up to quite a lot. Instead of getting money at an ATM, get cash back at grocery stores, convenience stores, or pharmacies where they don’t charge additional fees.
- Unplug appliances and electronics when not in use. A lot of people don’t realize that simply turning off an appliance or electronic device doesn’t stop them from absorbing power. As long as the device is plugged in, it is using up energy. Unplug appliances such as the toaster, coffeemaker, hairdryer and laptop when not in use in order to reduce monthly energy costs.
Anyone having difficulties with their finances should be sure to check to see if they’re experiencing any of these money leaks. For additional advice on saving money – especially in regards to health insurance plans – visit The Benefits Store today.