10 ideas to Saving Money Each Month in 2013

We want to save money for the future.  We want to save money for that once-in-a-lifetime vacation.  We want to save money for a new car. We want, we want, we want… to save.

We all think about putting aside a certain amount of our paychecks, but in reality very few of us accomplish the savings goals we set.  However, there are other ways to save besides just putting money in your bank account.  Below are 10 unique tips to saving money each month that you may not have considered.

1. Refinance your mortgage. With interest rates at a record low, now’s the time to refinance your mortgage and possibly save hundreds of dollars per month.  And with many of the refinance plans available, you may not even have to pony-up for closing fees.  First contact your refinancing agent and if he/she can’t give you the deal you want, don’t hesitate to shop around.  Just remember to ask for that good faith estimate in writing so you don’t have to worry that the deal you are offered isn’t the one you eventually sign up for.
2. Reevaluate your insurance plans. Seems we all tend to purchase car, home, life, and health insurance and then just pay that monthly premium without investigating options to monthly insurance costs.  Consider consolidating all your insurance needs with one company and you’ll probably be able to lower your monthly insurance bill considerably.  Start with your existing insurance providers and see if you are taking advantage of all the discounts you qualify for and if bundling some of your other insurance will lower your monthly insurance premium.  If none of your current providers satisfy your needs to lower insurance payments, don’t hesitate to look elsewhere for insurance.
3. Ask your cable, satellite television, home phone, and internet providers about lowering your monthly bills.  Competition in the entertainment industry is fierce.  And, with cable, satellite and internet providers all vying for a piece of the action, new bundled packages become available every few days.  And, new customers get some major deals from these service providers.  To see if you can lower your monthly cable/satellite/internet/home phone bill, first contact your current provider, ask for the retention or loyalty department and inquire about a lower of your bill.  If you don’t get it, take your business elsewhere.
4. Switch cell phone services or make sure your family all uses the same provider.  As with cable, satellite, home phone, and internet service, cell phone service is a very competitive market.  A good look at your cell phone bill may be very enlightening.  Sometimes, we just get used to a certain amount owed on a cell phone bill without questioning the various items on the bill.  Carefully scrutinize your cell phone bill, eliminate services you don’t use and then check out plans offered by your provider to meet your needs so you aren’t paying monthly fees for features you and your family don’t really use.
5. Switch your bank to one that doesn’t charge finance fees.  If your bank still charges checking account fees, it’s time to find another bank. And, if your bank doesn’t have convenient ATMs for cash withdrawals, either switch to one that does or take advantage of ATMs that don’t charge a withdrawal fee.  If you get cash often, you’ll find that finance charge can quickly add up.
6. Get rid of your landline.  In this world of cell phones, some people find that having a landline is not a necessity any longer.  Unless you do business from home, consider discontinuing your home phone service. And, if you do need a home phone, check out the rates for VOIP or cable phone services or, at least, make sure that you are getting the cheapest long distance service you can negotiate.
7. Lower Credit Card Interest Rates.  Credit card interest rates are inevitable.  But, if you have a good payment history, you may be paying more than you have to.  Call your credit card providers and point out that you are a good client, who pays regularly and request a lower interest rate on your credit cards.
8. Develop a Do-It-Yourself Attitude.  Any service you can do yourself that you normally would pay for will put money in your pocket right away.  Consider coloring your own hair, washing your own car, cleaning your own home, mowing your own lawn, and doing those small home improvements yourself.  You’ll be surprised at the satisfaction you’ll get and the money you’ll save when you become a do-it-yourselfer.
9. Take advantage of credit card rewards points. These days, most credit card companies have some sort of rewards points available.  Make sure you know what those rewards are and take advantage of them.  Be cautious though.  The purpose of offering reward points is to get you to spend more using a particular credit card. Make sure you know the risks involved in losing points after a certain time period, pay off credit cards monthly, and take advantage of credit card rewards when you can.
10. Consider switching utility companies. Utility companies, while not as competitive as other service providers, may be an area where you can cut your bill by switching companies.  While many locations don’t offer options in utility service providers, if yours does, try negotiating with yours or do some research to see if switching service will save you money.  And, if switching utility providers isn’t an option, at the very least, try practicing conservation techniques to lower that monthly utility bill.

Remember saving money doesn’t have to mean that you are putting money in your savings account monthly.  However, if you incorporate some, or all of these 10 unique tips for saving money, you may just find that you actually do have some extra money at the end of the month to add to your savings.