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A look at important money saving tips that are relatively unknown

Developing a money saving habit requires commitment and discipline. It’s just not enough to state that you wish to start saving if you don’t have the will or the resolve to push through with it. You have to follow a clearly set out plan and deny yourself a number of luxuries before you can accomplish your saving objectives. While there are many money saving tips out there that you can easily access or have an idea of what they entail, we are going to shed light on some relatively unknown money saving tips that could actually be the spring board to financial security.

Regularly check and scrutinize banking fees associated with your account

Do not be blinded as to take as gospel truth whatever fees are charged on your bank account. Banks are generally in business for the purposes of serving the needs as well as exceeding the expectations of their customers. However, do not be blinded by this as to give the idea of bank fees a wide berth. Remember that banks are a business entity and always seeking for means in which they can make money and increasing their profits.

In this regard, it’s essential that you scrutinize bank fees and ensure that whatever fees are charged are in tandem with the fine print or terms and conditions you read while opening the account. Considering the fact that most banks make a ton of money from bank overdraft fees, it’s essential that you regularly scrutinize your bank fees and ensure that whatever you are charged doesn’t go beyond the threshold. It can save you a great deal of money.


Dispute any unfounded charges

In the event that you notice unexplainable and unfounded charges, do not hesitate to raise it up. Such charges if left unchecked could eat into your money and seriously affect your saving efforts. Though there is bureaucracy and you might meet several bottlenecks in your attempt to get answers, do not despair as you can always use thebanks social media platform to get answers. Most banks are conscious of their brand reputation and therefore tend to address issues raised on social media as fast as possible to avert a public backlash and negative reputation.

Dispute each and every erroneous credit card charges

The truth of the matter is that credit card fraud is increasingly on the rise and if not checked could seriously eat into your savings. In that regard, its highly recommended that you dispute any erroneous credit card charges and raise the issue with your bank for chargeback. Make it a habit to review your credit card statements and raise any issues you find unacceptable as relates to credit card charges. You will end up saving some money you wouldn’t if you looked the other way due to ignorance.

To sum it up, there are indeed many ways in which you can go about money saving. In addition to the above, you can also play the loyalty card especially if you’ve been loyal to your credit card company for a long time. If you have a good credit rating and boasts of being a long standing customer, you can always approach your credit card company to waive some fees for you or lower it to enable you save some money.


 February 11th, 2016  
 Ways to save money  
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Incredibly simple ways to save money

If you are gainfully employed or in self employment, chances are that this is not the first time you have been advised to save money. While making lots of money is relieving and the ultimate goal, developing money saving habits has always been a mirage to many people. People simply find it difficult putting aside some money for the future and this is one of the reasons why achieving financial security is a tall order. To get started or taking the first step and commitment to save money is usually the hardest. However, this doesn’t mean that it cannot be done if one has the will power, the drive, and the commitment to do it. One simply needs to take the first step and chart a path replete with incredible benefits. So what are the simple ways in which you can save money?

Keep tabs on your expenses

You cannot be able to save money if your expenses are running out of control. The first principle of saving money is that you need to spend less and budget for every single coin you earn. It is easy to get comfortable and get carried away by the amount of money you make or the temporal eerie feeling of financial security that you might give a wide berth the idea of saving money. However, remember that no matter how much money you make, if you can’t keep tabs on your expenses, creating a buffer zone and saving for the future will become a mirage. Simply record how you use every single coin you earn for a month and work on reducing on unnecessary expenses. It is one of the most incredible ways to save money.

Set out clear saving goals

You cannot get to where you want to go if you don’t have a clear plan of how you are going to get there. In that regard, saving money requires that you set out specific, measurable, attainable and realistic goals. Have a clear plan of what your saving goals are and work towards meeting the said financial goals. You can begin by setting short term financial goals such as saving money to go for a vacation or buy a car and setting long term goals such as saving for your children’s college education or retirement saving. With a clear saving goal, you are more likely to follow through than when you simply have no plan whatsoever.

Make a clear budget

Spending money without a budget is disastrous and the biggest impediment towards your desire to save money. A budget is instrumental because it helps you limit overspending and also ensure that you allocate money to what is important. If you don’t know how to make a budget, you can always find an expert to help you create one. At the end of the day, saving money requires you take the first bold step of financial discipline.


Decide on your saving priorities

We all have different priorities when it comes to saving money. As such, it’s important that you decide on your saving priorities before you embark on saving. Decide on what you want to save on, how long you are willing to wait and the exact amount of money you are willing to put aside to meet your saving objectives.

 February 11th, 2016  
 Ways to save money  
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 Comments Off on Incredibly simple ways to save money