Can Still Save Money Living Check to Check?

It’s possible to still save money living check to check.

Save Money Living Check to CheckIt may be hard to believe, but you find ways to save money living check to check. It’s not always the easiest thing to do, but it’s certainly possible. I fact, it may be easier than you think. Below are some of the things you can do to save money without spending too much effort or time.

Use a Cash Back Rewards Credit Card

The competition among credit card companies is fierce, which is wonderful for consumers. Credit card companies offer a plethora of benefits to attract new customers, including cash back programs. Cash back rates of 1%, 1.5% and even up to 5% of total purchases are all possible, depending on the credit card and where you use it.

Reward credit cards can help you save money by allowing you to earn these rewards for spending you need to do anyway. Chances are you need to groceries, gas or have to pay some bills no matter what. The only question becomes how you pay for these living expenses. If you have to pay them, why not use a method that gives you cash back? You can then take those rewards you’ve earned and place them in your savings account. This is an example of free money since you don’t need to change your spending habits at all.

Keep I mind that this only works if you can pay off your credit card in full every single month. Otherwise, you’ll lose money using the card because interest charges will exceed any rewards you earn.

Set Up an Automatic Savings Deposit

Individuals sometimes live paycheck to paycheck because what little extra money they have after every check goes to purchasing unnecessary items. One way to avoid this is to automatically save a portion of your paycheck as soon as you get it. You can make arrangements with your bank so that a certain amount of money goes from your checking account to your savings account each month. Even $10 or $20 each month can lead to a significant savings amount over time and will usually be difficult to notice among your usually monthly spending requirements.

Save Your Change

Anytime you pay with cash and get change, save that change in a piggy bank or coin jar. It’s not going to be the fastest way to build up cash savings, but it is super easy. You won’t even notice the money you’re not spending.

Ask for a Waiver of Late Fees

If finances are tight, which usually occurs when you’re living paycheck to paycheck, there’s a higher chance you’ll be late paying one of your bills, such as a mortgage, credit card payment or utility bill. When this happens, you could incur a hefty late fee. If it’s been a long time since your last late payment, or this is your first late payment, you might be able to have it waived. All it takes is a simple phone call and a polite request for you to avoid paying the late fee. This works far more often than you might think.

Pack a Lunch or Make Your Own Coffee

Picking up coffee on your way to work or eating lunch out every day is far more expensive than packing your own lunch or making your own coffee. But sometimes it’s really hard to give up the convenience having your coffee or lunch prepared for you. To save time in the morning, pack your lunch and get your coffee machine set up the night before. All you have to do is pour in the water, turn on the coffee machine and grab your bag lunch before you head out.

Find Ways to Cut Your Bills

Certain bills are almost impossible to avoid – you need running water and electricity for your home, for example. Other bills are still essential, but there are often ways to lower them. For instance, modifying your home or car insurance coverage can produce quick and easy savings. Just make sure you’re still getting the insurance coverage you need! Otherwise, saving a few hundred dollars in insurance premiums could cost you tens of thousands of dollars later on.

It can take time and practice to learn how to save money living check to check. If you need a bit of wiggle room, a title pawn can help. Call or visit your nearest Title Tree store to find out whether you qualify.