How to Save Money (10 Easy Tricks)

How to Save Money

Trying to find ways to save money? Tired of working so hard to watch your money vanish? I'll show you how to save money using 10 easy tricks.

1. Avoid Extended Warranties

You’re at the check out line buying a brand new television for your living room. You’ve been saving your money for a while and are finally able to buy that monster flat screen you’ve had your eye on. The sales clerk looks at you and asks, “Would you like the extended warranty for only $100?”

Warranties may sound good; I can pay $100 instead of $1,000 to replace it? It’s a no brainer!

The reason sales clerks are always pushing the warranty is because that’s where they make the most money. The reason they make so much money on them is because most people will never need to use their warranty.

Take a tally of every item you own that had the potential of an extended warranty (microwave, dishwasher, refrigerator, televisions, computers, etc.). How many of these items have had to be replaced while still under the terms of a warranty? The amount you would have spent on warranties for all of your items far exceed the $1,000 you’re trying to save.

If the idea of not having a warranty still leaves you uneasy, take the $100 you’d spend on it and put it aside. If you did this with every item you would buy a warranty for, you should have enough money saved in the event one of those items breaks.

2. Use eBay

Okay, we’ve all heard of eBay, right? The website that lets you auction off all of your unwanted items? I’m not going to tell you to sell your stuff on eBay (not in this blog anyway). Instead, I want you to buy your stuff on eBay.

My wife, Andi, and I have used eBay to purchase many items at discounted prices. As a musician, I have bought new or refurbished musical equipment for 30-40% off of the retail price.

Over the years, eBay has become a reliable source for people to sell products. While there are a lot of individuals selling their used items, a lot of businesses have ventured over to eBay as well. Due to the seller rating system, you can read reviews on how trustworthy a seller is before engaging in buying from them. This also means that most sellers offer good return policies and warranties (the free kind) so that they can maintain their high rating.

3. Call to Cancel Subscriptions

Before you freak out about canceling cable, I’m not saying you actually have to cancel it. If you don’t watch a lot of TV, then canceling can save you a lot of money each month. However, if you’re addicted to The Walking Dead like me, this may not be an option (and I’ll be damned if I cancel before I find out who Negan kills).

I’m suggesting you call your cable provider and tell them you’re pricing other options in order to save money. Most providers will offer you discounted rates in order to keep you as a customer. You can also ask for a loyalty discount if you’ve been with them for a while. I have an alarm set in my phone to call our provider every six months to ask for discounts.