Four Ways You Can Avoid Wasting Money
There are many ways to save money and unfortunately, there are countless ways to spend it needlessly. Here, we have outlined four ways consumers spend money without even realizing the expense until it's too late.
Cell Phone Early Termination Fees
When you sign that cell phone contract, you're usually tied in for as long as two years. However, what if something unexpected happens such as your phone breaking or you move to a locale where the signal is not clear or you find that other carriers are offering better rates?
You want to cancel that contract, but that will cost you as much as $200 per line. There is a solution. Contact a company that helps people transfer their contracts to others. The advantage to someone assuming your contract is the shorter term contract and possibly a free cell phone.
New Cars
It has been often said that the #1 expense for a new car is depreciation. That's because a new car, depending on the make and model, can lose 30-50% of its value in the first two years. The challenge for the used car buyer is to find a 2-3 year old model that doesn't have too many miles at a fair price. A vehicle's mileage will also affect its value. A 3 year-old car with 27,000 miles will be worth more in dollars and in its remaining useful life as compared to the same car with 60,000 miles.
It's almost always wise to buy used because of the cost savings involved and the fact your insurance premiums will likely be less because of the lower cost.
Choose Generic Brands on Over the Counter Medicine
When you need medicine for that nagging cough or sore back, you'll be faced with the choice between brand names you recognize and the generic store brands. It's always a good idea to check out the generics, which are usually positioned on the shelf next to the well known brands. Sometimes the cost difference is amazing with generic brands being the clear choice.
In many instances, generic brands are made with the same ingredients and formula as their brand name counterparts. What keeps the costs of generic brands low is that stores are not required to advertise these products.
