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Tips for Saving Money From a Debt Relief Lawyer

Spending money is easy. Saving money can be tougher. It take focus and discipline. It also takes strategy. 

One method of savings is to budget carefully so as to limit spending to items that are "needs" as opposed to "wants". Another method of savings is to spend less on the purchases that you are already making. A combination of both methods can have a compounding effect on one's savings.

This article will provide you with a number of methods that can help you save a bunch of money without much effort. 

Be aware of ATM Fees and Surcharges

Carefully select which ATM you use for withdrawals of cash. Many ATM's will charge you a convenience fee, while you bank charges you an additional service fee for using an ATM outside their network. Each transaction can add up to a few dollars, or more. If you make these types of withdrawals frequently, the fees can add up quickly. If your withdrawal amounts are relatively low, the fees you are paying might be proportionally very high. Oftentimes, using the ATM machine within the bank in which you maintain your account will result in less charges than using an external ATM. Why spend more on something so intangible? Better to keep that money for a more worthwhile cause.

Watch out for Merchant Processing Fees

As of recently, many stores are passing on their merchant processing fees to their customers. They do so by charging an additional fee, usually around 3% to 4%, on top of the purchase price. Such fees can have a large impact on large purchases, and can easily add up over time. Since many stores offer similar items, it may be best to shop at stores that do not pass the credit card fees to the customer.

Watch out for Credit Card Fees for Municipal Debts

If you're paying taxes, parking tickets, or municipal bills using credit cards, you may be incurring a transaction fee that could be avoided by using a check, e-check, or other payment option. Other than convenience, there is very little benefit to paying for such transactions with a credit card.

Avoid Unnecessary Credit Card Interest

It's important to understand that interest on credit card debts are compounded, meaning, you pay interest on interest that has previously accrued. Carrying a credit card balance inevitably means that you will be paying a premium for the transactions you incurred on your card. As such, it is important to limit credit card purchases to those that you feel you can pay off in short order. If you accrue a balance that will take time to pay down, consider transferring the balance to a lower rate credit card. Many creditors offer low rate balance transfers in order to earn a consumer’s business. Such offers, when utilized properly, can help save a substantial sum of money while helping the consumer get out of debt quicker.

Use Discount Coupons

Coupons can be an excellent source of savings. However, they come at a cost in terms of the time spent locating the coupon, organizing them, and finding the particular item in the store in which the coupon applies. Spending time cutting coupons at the behest of more valuable activities may be short-sighted. However, utilizing coupons in an organized and strategic manner can result in substantial savings, especially over prolonged use.

Online Discount Websites

Online sites discount such can be a way of scoring a major discount on certain items and services. But it's important to keep in mind that getting a great discount on something you don't need is actually not a good way of saving money. However, it can be quite beneficial to use such sites strategically to make purchases that you need and would be otherwise more expensive.

Cheaper Car Insurance Rates

Shop around for car insurance every few years. Car insurance tends to go up periodically, regardless of your carrier. You might find a substantially lower rate for similar policy coverage elsewhere. Paying less for the same level of coverage is a big win.

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