Ten Quick and Painless Ways to Cut Costs and Save Money

It is common knowledge that there are basically two ways to improve your financial situation - either a) increase income, or b) decrease costs. Doing one or the other (or both!) can really have a positive effect on your budget, giving you more financial freedom to pay down debt or build a savings quicker. Here are some ways in which to cut costs that shouldn't be too painful, and are relatively simple.

1. Prepaid Cell Phones - If you don't use a ton of minutes or only use your cell phone for emergencies or for travelling, get rid of that pricey wireless plan and switch to a prepaid cell phone. There are no contracts to sign and since you're paying for your minutes up front...there is no monthly bill!
2. Bundle Up - No, I'm not talking about winter clothes, here. I'm referring to taking advantage of the specials some companies offer when you bundle your TV, Internet, and phone plan all in one package. This can save you $20-$30 per month in some cases!
3. Get Rid of Extras - Paying for movie channels you don't watch or a text messaging service you don't use? Get rid of them! Dropping these extras can free up money in your budget to put towards debt.
4. Prepaid Phone Cards - Instead of paying for long distance on your landline phone plan, consider buying a long distance calling card instead. Some calling cards average about 3 cents per minute whereas a long distance package on a landline can run anywhere from $20-$40 per month.
5. Pay Credit Card Bills Early - Instead of waiting until a few days before your payment is due, pay it as soon as you get the statement in the mail. The sooner you send in a payment, the better. This is because most credit card companies apply interest base on an average daily balance. By reducing the daily balance for more days out of the month, you will be reducing your interest charges.
6. Ask For Fee Reversal - If you get hit with a late fee or overlimit fee on your credit card, and it's your first offense, don't be afraid to call your credit card company. They may be willing to reverse the fee for you if you've had a good history with them. It's definitely worth a try!
7. Pay Bills Online - This is becoming more and more popular. Instead of paying bills through the mail and having to buy stamps and envelopes, sign up for free bill pay through your bank or credit union, or through the vendor itself. The only bill I pay by mail is my rent and that's because there is no other option at this point. This will saving you money on stamps and you can easily see when the payment has been applied!
8. Use Coupons to Your Advantage - So you're on a budget but you still want to have fun, right? Coupons don't necessarliy only apply to grocery shopping! Look for coupons for your favorite restuarants or hangout places. Even bowling alleys sometimes offer deals or have coupons in the paper. A lot of restaurant offer gift cards you can buy at a discounted price on Restaurant.com.
9. Use Generic (drugs) - If you or family members are on medications, ask your doctor to prescribe you with generics if they aren't already. This could save you hundreds per month! Realize that not every medication has a generic, but a lot of them do and some places have a list of generics for a set price (i.e. Wal-Mart and their $4 prescription program).
10. Pull Off the Highway - While traveling, don't necessarily fill up at the nearest gas station right off of the highway. These are often marked up higher because they get more traffic. By simply driving a few miles away from the main drag, you can probably find gas for 10-20 cents cheaper!