Saving money doesn’t come naturally to everyone. Luckily, saving money doesn’t have to be difficult. In fact, you don’t always need to drive all over town to save a few bucks. There are many easy ways you can save money at home. Completing any of the tasks below while sitting at home in your boxers could easily increase your monthly savings.
Apply to Refinance Your Loans
Refinancing your debt (such as your mortgage or student loans) is a super easy way to save money. You may want to look into every single loan you have to see if you can save money by refinancing to a lower interest rate. However, not everyone wants to spend all day investigating every debt they owe. For a quick win, look at your highest interest rate loans and your highest payment loans. Investigate to see if refinancing those loans would save you money.
The biggest opportunities normally involve refinancing credit cards, car loans and mortgages. In most cases, you can apply to refinance your debt at home, but in some cases you may sadly have to leave home and get dressed to complete the money saving refinance.
Lower Your Insurance Costs
Insurance is no fun, but it helps protect you and your assets. Rather than simply keeping your current insurance products year after year, take a few minutes to get a couple of quotes from different companies to see if you are getting the best rates possible. Luckily, getting insurance quotes is something you can do from the comfort of your home and it normally doesn’t take a lot of time. You can either do your insurance shopping online or call an insurance broker on the phone if you’d like more assistance. You can easily save hundreds of dollars if you find a better deal at another insurance company. Make sure to check all of your major insurance policies including homeowners insurance and car insurance.
Increase Your Bank Interest Rates
Another one of the easy ways you can save money at home literally helps you save more money. If you aren’t using an online only bank, chances are you can secure a higher interest rate on your checking or savings account by moving your money from a brick and mortar bank to an online bank. Interest rates for many online only banks are much higher than their brick and mortar counterparts. The best part is you can set up these online bank accounts while using your tablet and lounging on your couch.
Switch Cell Phone Providers
Your monthly cell phone bill is another place you can save money from home. If you still have a phone through one of the major four cell phone carriers, you may be able to save money by switching to a smaller brand that uses the same network. In some cases, you can switch to your new cell phone provider at home thanks to the power of the internet. Order your new phone online and get it shipped to your home. Once it arrives, follow the instructions to activate the phone and transfer your number to the new phone and provider.
Cancel Unused Subscriptions
Subscriptions can be awesome if you use them on a regular basis. Sadly, some people forget about the subscriptions they signed up for but continue paying for them for months or years down the road. To find subscriptions you may have forgotten about, look through your credit card and bank statements for any recurring payments. If you do find some subscriptions you forgot about, simply call and cancel the subscription to save money. The company doesn’t have to know you’re sitting at home in your boxers.
Saving money isn’t always a difficult task. Even if you complete just one or two of the money saving ideas above, you could easily save hundreds of dollars per year. Your bank account balance should look a bit larger after a few months, assuming you actually save the savings.