Saving money is everyone’s goal or at least making more money. After all, who wouldn’t want to have some spare cash, right?
If you wish to finally fulfill your dream of having more savings, $500 is a decent enough amount that can serve as your starting point.
Take a look at the following five quick ways to save $500:
1. Double Check and Save on Credit Card Fees
If it is impossible for you to make monthly payments on your credit card, you can call and request for lower APR rate. While it might seem a bit awkward, this is something worth doing if you want to save some money. Credit card debts are a serious burden for most people and are also among the worst types of debts due to the excessively high-interest rate. With a temporary 0% APR or lower interest rate, you will not just save money but also pay off your debt faster.
2. Consume What You Have in Your Pantry
No matter how much you love eating out, one of the best and easiest ways to save $500 is to eat most of the items available in your pantry to reduce your expenses. Cutting down on your trips to the grocery can help you save more money. Instead, try to use those staples that are already available in your kitchen. Buying more than what you need is going to lead to more expenses. The added advantage to this is that you can also reduce your food waste in the process, making it a true win-win situation.
3. Prorate Your Utilities
When you notice that your heating or electric bill tends to increase and decrease during specific months, you might want to prorate your utilities. This can work really well if your heating or AC unit is running for half of the year. By prorating your service, it will be easier for you to predict your utility bill every month with no need for you to wait around just to see how much it will be every single month.
4. Make Adjustments in Your Phone Plan
Smartphones can be very tricky. These devices can get really expensive and before you know it, this expense is already eating into your budget. And since your phone is a necessity, you cannot just simply ditch it. What you can do instead is to adjust your phone plan. Ensure that you get the best deal and choose only the plan based on your needs. Downgrade your plan to the lower tier to get rid of those add-ons that you don’t need in the first place. Doing this can easily let you save several dollars a month.
5. Sell Something
Rounding up the list of five quick ways to save $500 is to bring a little more money by selling something. Check your closets to see if you got some stuff that you can sell online or through a garage sale. For all you know, that old dress you have been clinging on to for so long might easily give you a few dollars that you can put into your savings.