Painless Money-Saving Tips

Here are some practical and painless money saving tips to help you save some cash each month.

• Convert to a gas water heater. They are more efficient and will save you money in the long run.
• Request a reduction in the interest rate for your home equity line of credit. Some mortgage companies will agree to reduce the rate by 0.50% or more. And if you are looking for a home equity loan, Lending Tree Home Equity Loans is a great place to check out available options.
• Request a reduction in the interest rate on your credit cards. As with home equity loans, credit card companies sometimes are willing to reduce the interest rate. It can’t hurt to ask. If your credit card company won’t help you, switch to a low interest credit card or a one of several 0% APR credit cards
• Refinance you mortgage. If you can reduce your interest rate by one percent or more, it is often beneficial to refinance. This is particularly true for those with high rates due to less than stellar credit scores. If your score has improved, you may qualify for a better rate. Start by asking your current mortgage lender about lower rates.
• Get rid of Private Mortgage Insurance. If your down payment was less than 20%, you are probably paying PMI. Once you have a 20% cushion through reducing your debt and home appreciation (yes, prices do go up from time to time), contact your mortgage company to start the process of removing the PMI.
• Get your books from the library. While there might be a specific book you want to own from time to time, it pays to borrow most of your books from the library. Simply put, it’s hard to beat free! Adopted from www.doughroller.net