Simple Financial Tips for Real Monthly Savings

Sunday, July 22, 2012

Simple Financial Tips for Real Monthly Savings

There will always be hundreds of millions of consumers spanning the Western World wondering how on Earth it might be possible to boost monthly income by making realistic and worthwhile savings. The problem in realizing such goals has long been the way in which around 99% are already living on something of a knife-edge, which in turn leaves very little room for manoeuvring. Modern life makes it very difficult to allow room for any regular luxuries or splurges as it is, therefore, in order to cut costs many will begin looking at cutting back on essentials.

Needless to say, most will quickly find out those essentials carry such a moniker for a reason – i.e. you can’t live without them.

So, shy of taking on a second job or perhaps downsizing it can be tricky to know where to turn, but there are in fact abundant options available for immediate and ongoing savings most may never have realized were so close to hand.

Balance Transfers

Chances are at this point in time many will have heard of the idea of credit card balance transfer, though surprisingly, few ever make full use of such offers. In short, these transfers involve a consumer taking his existing credit card balance over to a new provider, who will in turn offer an interest rate of 0% as an incentive.

Now, while most may assume that their own modest balances and moderate rates of interest are not exactly breaking the bank, add up said ‘modest’ charges over a couple of years or so and it quickly hits home just how much money is being burn unnecessarily.

In households, where several credit card balances are being paid off at any one time, the difference that can be made by switching each and every last one is simply incredible – not to mention immediate and ongoing.  A transfer takes just minutes to set up online and will never cost a penny to put in motion.

Shifting Loans

If you signed up for a personal loan a decade or maybe even just a few years ago, chances are standard interest rates and APRs have fluctuated considerably since then. As such, there is every chance that the personal loan you are paying off today attaches an infinitely higher APR than those being offered to new customers – unfortunate but a fact of life.

As such, it never hurts to spend an hour or two on any leading internet comparison site from time to time and see just who is offering what, so as to see how much better off you could be with a switch. You might also want to consider a refinance for your home itself as certain mortgage rates have gone through periods of staggering record-lows as of late.


Last but not the least, consolidation is usually seen as a last-ditched attempt to avoid bankruptcy, when it is in fact nothing of the sort. Consolidation does nothing other than take all current debts and replace them with a single monthly payment to be made, delivering simplicity, affordability and perhaps even a far lower rate of interest across the board.

Who on Earth would ever turn down such a package?

As such, if debts appear to be sapping the life out of the household or even if a simpler life is an appealing thought, check out the consolidation packages being showcased today and see first-hand just how big a difference a little application form can make.

About the Author:

Eddie Jones is an English financial enthusiast and full-time writer for He is currently residing in Portugal with his wife and 3 children.

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