A guide to reducing your mortgage APR with your existing lender
1. Avoid Excessive Debt on credit cards
The most important thing in financial planning is to make sure you don’t have a huge debt , purchasing a house can be one of the most essential needs in our lifetime but it could also be one of the most expensive assets.
While purchasing a house we may plan to either use our credit cards or apply for home loans.
Credit cards can be the most expensive dept we may have, so we should always avoid using credit cards when we deal with large amount.
If we payoff outstanding balance every month then we might not have to pay the interest charge thus saving on the interest.
2. Cut off Your Bills
Cutting off on our phone, electricity, fuel or water bills can help us save money.
If we have a habit of talking on the phone for a longer time, we should make it a point to cut our conversation short and stick for the reason we had called the other person.
In case of electricity bills we should see that the consumption of power is used only when needed, so also for the water we should avoid overflow of water.
If it’s a walk able distance, we should make it a point to walk thus saving on our fuel.
3. Save on Shopping
Every time we go to our supermarkets or grocery shops we tend to purchase any thing we see in front of us, without actually knowing if we are going to really use it or not. A shopping list before going to market is essential so that we know and purchase only those items which we actually need. This will help save some money on unnecessary expenses.
4. Paying on your Insurances
Whether it’s a car insurance or your health insurance always see that you get the right and cheaper insurances, you can always find policies online on internet very easily.
5. Book your travelling tickets early
Low-cost airlines have created a market by letting people book tickets for less charges, these airlines have few seats reserved for low cost, so once they tickets are booked then the tickets become expensive, so it always wise to book your tickets early.
6. Spend only if it is necessary
For example if your idle for some time and you go out for shopping, you like a few things but before purchasing, think for yourself if you really need it?
7. Walks or Cycle
Walking and cycling could not only save you money on fuel but it would also keep you healthy.
8. Eat at home
If you intend having a cup of coffee why not spend few time and make it at home, this will help you save at least 10 times more on which you would spend.
So also instead of having unhealthy fast food why not come home and cooks something healthy?
9. Keep a personal budget
Maintaining a personal budget and tracking the money coming in and going out could help you in knowing where you spending and will help you identify the areas where you can save.
10. Cut down on smoking and drinking
Not only it we help us saving money but it will also benefit us on our health.
11. Buy clothes on sale
Whenever we think of saving wise decision is to buy your clothes on sale rather than branded ones.
12. Claim your benefits
Our government has given our various benefits example for girl child, health benefits why not claim it whenever required.
13. Save on Television
Some of us pay a huge amount on the channels which we have no time and interest to see. In such cases which should see the packages which are most suitable for us and which will cut down our cost on monthly recharge.
14. Shop online
Now a days there are so many sites which are reliable for shopping online, with secured payment gateways as well as free shipping, shopping online gives us wide range on choices as well as saves our time as well as money.
15. Learn to say NO
May be for your friends or for yourself always learn to say know if you know you cannot effort or spend money on maybe drinks of dinner at a restaurant.
16. Buy on bulk
Knowing what you might required almost every day for example grocery items why not buy it on bulk rather than buying it every time it gets over.
17. Spend less
Make it a habit to spend less, review what you have spend and look at the ways you could save it so that at least the next time you would not spend unnecessarily.
18. Buy used products
For example buying a used car just used for maybe 1 yr could actually help you save a lot of money. No doubt we all like to have a new car.
19. Leave your money at home
Whenever you plan to go out for shopping or maybe just a walk down the market make sure you carry very less amount of money with you so that you don’t get tempted to purchase any thing.
20. Rent Library Books
If you have a habit of reading why not become a member of a library and just rent books rather than buying books and spending a lot of money on them.
21. Vegetable Garden
If you have a little space, it would be nice to grow some fruits and vegetables in your garden because you could produce delicious organic food as well as save money in buying them.
22. Maintain Your Vehicle
Always clean and maintain your vehicle so that you don’t have to spend a huge amount later on.
23. Net Promotional Coupons
Use the internet to find Promotional coupons online, but you have to be careful to purchase products that you want otherwise buy regardless of the discount.
24. Use Your Resources
Make birthday cards, photos and anything you can to utilize your resources like computer rather than buying.
25. Know Your Supermarket
Find out which supermarket gives you proper discounts.