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Everyone seems to come up with a different way to increase their savings account. I thought that these 3 examples showed how a little creativity can go a long way.
Take a look at how real people put cost-cutting ideas into action and watch their savings add up. Collectively, Michele Harrison, Mike and Vjera Silbert and Stephanie Dunshee offer a combined total annual savings of $17,860.
http://finance.yahoo.com/banking-budgeting/article/106839/Save-50-a-Day-How-Three-Super-Savers-Do-It
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But their biggest savings yet, says Mike, 39, was refinancing their 30-year fixed-rate mortgage. Slashing the interest rate from 6.125% to 4.75% put about $500 per month into the family budget.
I wonder how much their mortgage was for if they could save a large amount like that! I don't know anything about refinancing. Do you have to do it with the company you took out the original mortgage with?
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But their biggest savings yet, says Mike, 39, was refinancing their 30-year fixed-rate mortgage. Slashing the interest rate from 6.125% to 4.75% put about $500 per month into the family budget.
I wonder how much their mortgage was for if they could save a large amount like that! I don't know anything about refinancing. Do you have to do it with the company you took out the original mortgage with?
You would need to confirm with your lender whether you're free to move to another one, greenmachine. Only if there was a specific tie in period at a special rate or for so long do you usually have to hang in with them, I believe. If you still want to move you may need to pay a penalty but you can get that included in your new loan with your new lender I think. Talk to your bank or look online. Your current lender may reduce your rate once they know you're considering taking away your business.
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I wonder how much their mortgage was for if they could save a large amount like that!
I'd estimate that the mortgage was about $450k or so.
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That was a good read. Thanks micharch. :) I don't have a cell phone, only a main phone line. I use that for the internet and landline calls. I don't get many calls so don't have a need for a cell. This is interesting.
Harrison's Costco membership got her a cheaper auto-insurance policy (with free roadside assistance). That cut her annual car expenses by about $300.
I got stuff in the mail from I think it was my insurance company talking about getting discounts from other select companies. I only glanced at it and put it to one side thinking it was a promotion puff piece. I need to read that properly now I've saw what she saved there.
I'd estimate that the mortgage was about $450k or so.
450K for a mortgage. I'd never sleep worrying.
And her work allows her to do that? I wouldn't have thought that would be the case. Good link, micharch.