Tags: Huffington Post | Personal Finance | Tips | Money

Huffington Post: 3 Tips to Save You More Money

Huffington Post: 3 Tips to Save You More Money
(Dollar Photo Club)

By    |   Thursday, 05 November 2015 09:51 AM

You work very hard for the money you earn, and with just a bit more effort, you'll be able to keep more of it (saving for that rainy day, or to spend on things you enjoy!)

The Huffington Post recently offered sage advice "targeted at people with mid-income, struggling with optimizing their saving and spending habits, rather than those crumbled under the weight of student loans or crippling credit card debt."

Here are 3 tips:

Barter Better Rates for Yourself

It turns out Donald Trump is correct about the "Art of the Deal."

"Master the art of negotiation and don't be afraid to apply it in real life," the Huffington Post reported.

"Among the most common personal-finance tips you often see is stop spending money on "guilty pleasures" like Lattes from Starbucks, fancy car washes, or regular manicures. The truth is that you don't need to cut down on things you love in order to have more money," the Post reported.

There are substantial savings to be had if you just shop around, compare prices and bargain for cheaper rates on such items as car insurance, cell plans, bank fees and virtually any subscription service.

Learn to Earn: Find Another Income Stream

"Instead of merely cutting down dramatically on your expenditures, also learn to earn enough for the lifestyle you'd like to have," the Post offers. "Take advantage of any worthy moneymaking opportunity that comes your way."

Such ideas can range from renting out a spare room to getting another job. Even selling your possessions online.

"There's plenty of online and offline gigs requiring zero to mild prior training. The freelance world is booming, and it's a high time to take advantage of it!"

Home Sick: Don't Buy a House as an Investment

"If there's one thing the crash of 2008 should have taught us, it is that homeownership is no longer a good investment," the Post warns.

Unfortunately, a recent study shows that there is a chronic lack of savings in the United States.

Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website GOBankingRates.com. “It’s worrisome that such a large percentage of Americans have so little set aside in a savings account,” says Cameron Huddleston, a personal finance analyst for the site. “They likely don’t have cash reserves to cover an emergency and will have to rely on credit, friends and family, or even their retirement accounts to cover unexpected expenses.”

Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey for personal finance website GOBankingRates.com.

“It’s worrisome that such a large percentage of Americans have so little set aside in a savings account,” says Cameron Huddleston, a personal finance analyst for the site. “They likely don’t have cash reserves to cover an emergency and will have to rely on credit, friends and family, or even their retirement accounts to cover unexpected expenses.”

If you’re in the majority that has less than $1,000 in savings, you already know that it’s hard to start saving. “I recognize that it can be tough to save money,” Huddleston said. But that’s exactly the reason you need to be proactive and actively work to make a change with your savings, she said.

“[P]eople should automate their savings — have a certain amount automatically transferred from checking to savings each month,” Huddleston said. “If the money comes out before you can spend it, you likely won’t even miss it.”

(Newsmax wire services contributed to this report).

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You work very hard for the money you earn, and with just a bit more effort, you'll be able to keep more of it (to spend on things you enjoy!)
Huffington Post, Personal Finance, Tips, Money
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2015-51-05
Thursday, 05 November 2015 09:51 AM
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