When making bigger purchases – furniture, TVs, etc. – saving money is important. We always encourage you to price shop. But an often-overlooked way to save money on a regular basis is with recurring expenses. Saving $15 on your grocery bill may not seem like much, but if you shop for groceries twice a month and save $15 every time, you’ve kept an extra $360 in your pocket each year. There are several ways to save money on recurring costs:
Buy in Bulk
The first money saving trick is to buy in bulk. Get yourself a membership at one of the warehouse super-stores and start stocking up on things like shampoo and laundry soap. Buying in bulk can significantly reduce the per-item cost for things you use on a regular basis. If you’re single, or married with no kids, buying in bulk may seem like “overkill.” What are you going to do with all that stuff? Instead of keeping it all, get together with a couple of other friends, and shop for bulk items together. Then, you’re all saving money!
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Some of the things you buy on a regular basis may not be available at warehouse stores. But you might be able to buy them directly from the manufacturer. Vitamins are a good example. If you can’t find an item or brand that you want, contact the manufacturer and see if you can buy in bulk directly from them. Some companies will offer “distributor” or “vendor” discounts to anyone who buys in large quantities.
Use Rewards Programs
Next, start using reward programs at grocery and other stores. An increasing number of retail stores are introducing discount programs for loyal customers. When you sign up, you get a card that you swipe each time you purchase something in the store. Using the card will earn you either an immediate discount on some items or points that can be used in the future for discounts or possibly free items.
If you take prescription medications, ask your doctor if you can get discount coupons or cards. Most major medications have their own websites, and many offer free two week trials or have other discount programs. There may also be a generic version of your medication available, which could be a big money saver for you. Again, talk to your doctor or pharmacist.
Negotiate
Also, don’t be afraid to negotiate. Talk to your Internet, cable, phone, electric and gas providers and see if they have any specials you can sign up for, or if they can offer you lower rates. Internet providers especially run deals throughout the year for new customers. If your current Internet provider won’t offer you a lower rate, explore the discounts being offered by other providers.
It may take a little time and effort to find discounts for your recurring costs, but the money you save will add up over time and will be worth the effort.
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For more ideas on how to improve your financial health, check out Quizzle.com, where you’ll learn how to achieve your credit potential and get home loan recommendations tailored to your unique situation. And check out these other great money-saving articles:
- How to Improve Your Credit Score in 5 Simple Steps
- 5 Ways to Protect Yourself from Identity Theft
- Balancing Your Budget with… Toothpaste?
- Back to School on a Budget
- Beat the Heat, Help Your Wallet
3 Ways to Save Money on Regular Expenses was originally featured on Quizzle Wire
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