It seems like everywhere you turn, prices are going up and consumers just can’t catch a break. Instead of “the customer is always right,” lately it feels more like “the customer better be ready to pay up.” And when everyone is trying to take your last dollar, it can take some creative ways to hold on to the funds you work so hard to earn. Taking these steps sooner than later can relieve pressure on your financial situation and give you time to resolve your debts. If you have debts that no amount of budgeting will fix, it may be time to consider filing for bankruptcy. You can file for chapter 7 or chapter 13 in Arizona to discharge debts for a clean slate. Our team will ensure your filing is executed accurately and efficiently so you can see maximum results. To get started today with your free consultation by phone, call 602-609-7000.
Get Into Couponing
Couponing is a way to get by for some, a hobby for others, and it can also be a little bit of both. If you love the art of the deal, stop throwing out the stacks of coupons in your mailbox that look like junk mail. Mailers from your local grocery stores let you build a basis and create your weekly menu using items that are on sale. After you have determined cost-effective meals based on what is on sale, you can use coupons from the mail to make items even cheaper, or try coupon and cash-back apps. Companies will often send the best coupons for new products that they want consumers to try and add to their regular shopping lists. For example, I received coupons in the mail recently to try some new Febreze air fresheners. I then combined those coupons with cashback from Ibotta and ended up getting paid a few dollars to try new air fresheners. Ibotta also offers bonuses, such as a weekend bonus or holiday shopping bonus, creating extra cash-back incentives that can be especially lucrative if you cash out on gift cards that are on special at the time. I also have a Rakuten plug-in on my internet browser, which instantly scans my cart at checkout during online shopping and adds applicable discount codes. Additionally, it accrues cashback, and I end up cashing out $20-30 every few months. This type of app is better for clothing and larger purchases, while Ibotta is better for groceries. There are countless other options to help you save money on regular purchases- just type “coupons” into your app store search bar.
2. Stop Dining Out
Have you been out to eat lately? Portions are smaller, servers are ruder, and the bill always comes out larger than ever. That is before you are given the option to tip 25%, 28%, or 30% to the waitress who forgot to bring you water after you asked four times and rolled her eyes while taking the order. Groceries aren’t exactly affordable right now, but at least when you cook a terrible meal at home, you know it’s your own fault. Going out to eat every once in a while might be an important part of your social life, but my friend and I skirted inflation by switching from our own entrees to splitting a flatbread. It’s depressing until you get your check for $18 to be split. If you eat out to lunch every day, now might be the time to try out meal prep. Packing yourself burrito bowls, salads, wraps, and other wholesome meals for the week on Sunday reduces the risk that you will lack time or energy to prepare healthy meals on weekdays. Both your wallet and your waistline will thank you!
3. Check If You Can Reduce Any Of Your Monthly Bills
The classic example here is shopping around for more affordable car insurance. Finding a better-suited auto insurance policy can save a driver several hundred dollars per year. If you have other insurance policies that seem to be priced too high, you should review them to confirm if you are overpaying. You might have other subscriptions and services which are more discretionary that you pay on a monthly basis. Sometimes threatening to terminate these services can result in a better rate. For example, I pretended I was going to cancel Hulu and they gave me a 70% discount for the next 6 months. I tried to do the same with Netflix and they did not give a discount and canceled my membership. But as someone who mostly uses television mostly as background noise, I am now paying $3 for my streaming services instead of $17. I can always reactivate them if a show comes out that I want to watch. Some apps even offer services that will review your bank statements and find and cancel any subscription services you no longer want.
4. Try Surveys
There are endless websites that offer high rates for simple surveys. However, once you actually go to take these surveys, there are pre-qualifying questions that take a while to complete and often exclude you from the survey without pay. This might not be a relevant issue for you if you are a target demographic these companies are trying to reach, but it is something to keep in mind if you are considering trying surveys to earn extra cash. I used to do surveys on Amazon MTurk because they have a filter that allows you to specifically search for surveys you qualify for, and the pay used to be pretty good- think $15 per hour usually, with an occasional hourlong mock jury trial or detailed product review for about $60. Those types of offers have mostly dried up but that doesn’t mean that you shouldn’t try out taking surveys for yourself- just choose wisely before deciding which company to invest your time taking surveys. They often have minimum cashout requirements, so you could complete $5 worth of surveys on one site but never reach the qualifications to complete the $25 minimum cashout requirement for that site.
5. Stop Wasting Money On Credit Card Debt
Credit card companies reel you in with attractive points programs and promises of zero fees- until you fail to pay your balance in full and accrue interest with an astronomical APR. Sometimes it can be tempting to not pay off your full balance and tell yourself you will pay it off next month. That may be true and feel like it comes with no consequences. If this reads like I’m writing from experience, it’s because I am guilty of this sometimes. My credit card app showed me how much money I paid in interest in 2024- about $60- and I will never do it again! Unless it is due to a legitimate emergency rather than procrastination and anxiety. Check your credit card statements if you’re curious about how much money you could save per year by paying your credit card in full each month.
6. Give Up A Vice
Adults don’t need to be told how to live their lives, but most of us have habits that aren’t great for our health or our budgets. Smoking, drinking, gambling, and other pastimes can be expensive in more ways than one. For example, an alcoholic might have a sizable liquor budget but also spend money on rides and impulse purchases while under the influence, or even get a costly DUI. If you’re still looking for New Year’s resolutions for 2025, consider giving up a vice, even if it’s only to help stretch your budget.
If These Steps Aren’t Enough, Consider Bankruptcy
These tips can help you save a few dollars here and there, which can add up to a significant amount. But this takes time, and if you have creditors seeking to collect on your debts, you might not have that kind of time. Filing for bankruptcy can stop a repossession, lawsuit, wage garnishment, home foreclosure, and more. If you want to learn more about the benefits of filing for bankruptcy in Arizona and confirm your eligibility, call 602-609-7000 for your free consultation with an experienced lawyer from our firm.
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