6 Painless Ways To Slash Your Spending

slash-your-spending

Usually you find blog posts discussing money saving tactics that tell you to cut this and to cut that. Well that’s obvious, if you want to save money you just have to buy less things. But it isn’t that easy. Some things are a necessity. Other things affect our quality of life. But what if I told you that you could save money painlessly?

Here are 6 ways you can cut your expenses without feeling the pinch.

Threaten To Cancel Your Cable Bill

If you really want to save a lot of money you’ll cancel your cable/satellite bill. At $90 per month you’re actually spending over a thousand dollars every year. But this post is about keeping your quality of life intact. Therefore the goal must be to lower your bill yet keep your channels.

What you can do is contact your cable provider and tell them that, while you love the service,  you simply cannot afford it any longer. Rather than canceling your account, you will be transferred to the retention department. The next person you speak to has been trained (and authorized) to keep the customer at all costs. What they will do is offer you a discount. If you’re paying $90 a month they may lower you down to $75 monthly. Let them know you can afford only $60. There’s a good chance they’ll agree to that amount for a period of 1 year. That $30 savings equals $360 for the year, not too shabby.

Use Coupon or Promo Codes

If you can’t cut back on what you spend on, you can at least spend less on those items by using coupons. This may seem obvious and a simple tip. However, the tip here is how you find coupons for just about anything you want to buy. If you go to a store such as Macy’s and find a jacket you want to buy you’ll see it costs $99. What you need to do is go back home and look for a coupon code at retailmenot.com for Macy’s. You may find a $20 off coupon and free shipping to boot.

Comparison Shop Online

If you go to Target and find a television you want to buy, just hold on to your horses for a minute. Take note of the model number and go home with that information. Then type the brand name and model number into Google. It only takes a minute (or less). Go to the Shopping section and then sort by price. You may be surprised to learn that the very same television is available for $100 less somewhere else. If that place happens to be Amazon (which is very common) then you’ll get free shipping as well. But don’t stop there. Whatever store has the TV for sale most likely offers coupon codes as well so you can save even more.

Buy Discounted Gift Cards

You know how during the holidays you may receive a few gift cards you don’t want? Well some people decide to sell those gift cards they don’t want. That’s where you come in. Say someone doesn’t shop at the Gap but is selling a $100 gift card for $85. You could buy it and will instantly save $15. One such place to find discounted gift cards is PlasticJungle.com or on eBay. But be careful to only buy gift cards to stores you routinely shop at.

Cancel Smartphone Insurance

Are you paying 5 bucks a month for insurance for your cell phone? If so, cancel it immediately. You are dishing out $60 per year on it. What are the odds something is going to go wrong with your phone anyway? If something happens after 2 years (and after you’ve already paid $120) you won’t want your phone fixed, you will want to buy a different better phone by then. Not only that, but if you have a deductible of $50 then that’s even worse because to get your phone fixed or replaced you’ll need to pay $50 in addition to the $5 per month you’ve been paying. If you do mess up your phone and you don’t have insurance you can find good deals on used phones on eBay.

Don’t Buy Extended Warranties

Do not ever buy extended warranties. Why do you think the store offers these programs if they don’t generate revenue for them? Most of the time people will forget their item is under an extended warranty 3 years later and won’t bother returning the item to get fixed. Technology advances so fast that a few years later you’ll want to upgrade your stereo, television or computer anyway.

Anum Yoon

Anum Yoon is the founder and editor of Current on Currency. She loves all things personal finance, which is why you'll find her work all over the PF blogosphere. Catch her updates on Twitter @anumyoon!

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