7 Tips for Cutting Spending and Putting Cash Back in your Pocket. (video)
Posted: June 6th, 2011 | Author: Joe | Filed under: spending | Tags: Cable, Healthcare costs, medical costs, refinancing home mortgage, Saving, Saving Money, spending, Tips, video | No Comments »The beautiful Farnoosh Torabi is at it again. This time, she stopped by the CBS Early show to share some tips for managing through your own personal cash crisis. Here are the highlights:
- The average American spends 6-12% of their annual income on gas & electricity. She talks about ways to lower that, especially for seniors and low-income households. If someone in your family has lost their job during the recession, you may now qualify.
- Cut back on cable or ask for freebies. I did this, and saved $40 a month. It’s not that difficult, and really only takes some time so why not try it?
- Medical bills. Medical bills are often times negotiable – and you may not have to go to the extreme that Farnoosh did when she saved $400 off her dental bill!
- College tuition – lost income can mean big discounts, but you need to use the “special term” mentioned in the video when dealing with the financial aid office.
- Refinancing – interest rates keep hitting record lows, if you have the equity you could save $200 per month. My wife and I were lucky enough to have enough equity to do this a few months back, and now rates are back down to where they were then so consider this your second chance if you missed the first one.
Watch the video for all the details (it’s only 4 minutes long)
