As we start to think about the new year that will be starting soon, we are all trying to find ways to cut back on our expenses. Many of us have gotten used to buying anything we wanted whenever we wanted. Obviously, this has contributed to the financial state of the economy.
We all have to tighten our belts now and here are some strategies to help.
1. COMPARISON SHOPPING
If you really need to buy something or are still doing limited shopping for the holidays, use the many comparison shopping websites to check prices and also find free shipping if you are ordering online.
2. NEGOTIATE
When buying anything, whether it is clothing, applicances or a car, ask for a discount or if they can do better. You can even ask your existing credit card companies for a lower rate, especially if you have been a good customer of theirs. Remember that paying cash increases your chances for a discount, since retailers can avoid paying credit card transaction fees.
3. REFINANCE YOUR HOME
If you are in a position to do so, now is a good time to consider refinancing your home since interest rates have come down. You can also think about including some high-interest credit card balances in your refinance deal, perhaps saving you thousands of dollars a month in payments. If you are really having a tight time, financially, this is a possible option.
For a more detailed read of the 2009 Recession Survival Guide, found on Yahoo Finance, go to: http://finance.yahoo.com/banking-budgeting/article/106242/Your-2009-Rece...
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