For some of us, frugality comes naturally. But for others, frugal living conjures up images of a miserly, meager existence. No wonder so many tune out when the topic of frugality comes up!
Revisit your recurring expenses to see if you can reduce, cut or optimize them.
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Every year or so, shop around and get two to three new quotes on your recurring expenses. Switching to a competitor or taking advantage of promotions could save you hundreds.
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Call and ask to speak to the retention department. Mention how long you’ve been a customer, then negotiate for a discount or get them to meet (or beat) a competitor’s rate.
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Some billers offer a discount to customers who pay their bill once a year or all upfront versus monthly. Insurance, online services, and some medical services often offer this payment option.
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Maximize your spending by paying with a rewards credit card. Even better—use a card that offers higher-earning categories. (For example, groceries, gas, restaurants.)
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Often, smaller businesses will offer a discount if you pay in cash or with your debit card. (This tip goes against my previous tip. But in some cases, the savings are greater than any credit card rewards you might earn.)
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Many billers and banks offer refer-a-friend programs where you and/or your referred friend receive a bonus. Sometimes, the referral bonuses can be quite lucrative, so always check to see if your biller or bank offers them!
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