This week…the medium stuff and interest rates

 

The medium stuff

There are specific products and services that have various providers that we probably aren’t getting the best deal we could. It pays to shop around.

 

How many television shows do you watch? It’s probably just a handful sprinkled across just a few channels. But you’re paying for dozens and dozens of channels if you’re paying for cable premium packages.  Why not downgrade to a basic package? There are all kinds of internet services you can use to watch the shows you like, Netflix and Amazon at a fraction of what you’re paying for cable.

 

Your cell phone package?  Do you really need unlimited minutes and data?  Review your monthly usage and you might just see how little minutes and/or data your actually use, especially with all the free hotspots around!  Smaller bundles = less money!

 

Electricity?  Do you need to use the dryer at all times? Install retractable laundry lines and hang your laundry out to dry…Outside lights?  Yes you need them for security, but do they need to be on ALL night?  Solar motion lights are an option.  If you feel the need to have your surrounding light all night…solar should be your first option! We can also install solar water heater for those cold days, which is a tax allowance.

 

Insurance?  If you have auto or home owner’s insurance you should shop around for the best price. Insurance companies are now competing for your dollar and you probably aren’t currently getting the best deal you could.  You can think about using an insurance broker.

Interest rates

If you have loans you may be able to get a lower interest rate by refinancing.

 

If most or all of your debt is credit card debt, you know how hard it can be to ever make any progress when the interest rates are so high.  Getting that interest rate down will save you money and enable you to get out of debt more quickly. There are a couple of options for getting your credit card interest rates lowered.

 

The best option is a balance transfer credit card. You open a new credit card that has a lower interest; you transfer the balance from your current high-interest cards onto the new card with a lower rate.   Not everyone will be approved for a balance transfer card but if you are, do so and buckle down and get that balance paid off.

 

If you can’t get a balance transfer and get a debt consolidation loan preferably from your credit union…lowest rates ever!

 

Next week…make some extra money

 

“A business that makes nothing but money is a poor business.” – Henry Ford