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Whether you're trying to get a raise at work or haggling over the price of a new car one proactive and successful way to stretch your dollars is by negotiating for a better rate. The best-selling financial author, Whitney Johnson, says, “Negotiate even when you think you shouldn’t.” It's the old story that if you don't ask you won't get anything. If you ask you might be able to get an amazing deal. It's possible to even negotiate recurring expenses such as your cell phone bill or even your monthly rent. We recently contacted our cable provider, told the customer service rep that on the 19th of the month we were switching to a competitor that would give us all the same services for $80 less. She immediately meet that price so for the next two years we will be saving about $70 a month or a cool total of $1680.
Negotiating sometimes takes time and effort but you’ll be happy you went to the trouble when the savings start adding up.
You're probably familiar with coupons but it's much easier to save money when you learn how to stack discounts. Kyle Taylor, founder of the website ThePennyHoarder.com, advises that one of the best ways to save money is in your grocery shopping. The best way you do this is to visit discounted gift card sites like Raise.com where cards can be purchased for as much as 25% below their face value. This can help you save money before you ever set foot in your favorite supermarket. Then stack your savings in tandem with your regular coupons and grocery rebate apps such as ibotta and Checkout 51. If you do these things every time you go food shopping you may be able to reduce your grocery bills by more than 50%.
#7. Maintain a cash flow
You won't have to stretch your dollars if you always have a consistent cash flow is the advice of Josh Felber who is a career coach, entrepreneur, author and winner of the 2014 Best Money Expert award. His suggestion is that you compare your savings to your spending and always work towards spending less than you earn. While this may seem difficult it can be as easy as making a list of your wants vs. your needs and long-term financial goals. Then eliminate as many of the wants as possible so you will be curbing your spending on unnecessary or frivolous purchases. In turn, this will leave you with more money to free up your budget.
#8. Always watch your spending
Tony Robbins the life coach and motivational speaker says that to get the most value out of your money you need to spend it on valuable things. "The key to stretching the value of a dollar,” he says, “is to spend on things that dramatically increase the quality of your life. The short way to put this according to Robbins is to focus on the returns that you'll earn tomorrow. He further says you can often have the same level of enjoyment if not more by doing something simple. For example, next time you want to spend an evening with friends, don't go out for dinner at a cost of maybe $50. Instead, order in a couple of pizzas and beers and split the cost among the group. You've traded one good time for another, and you’ll save about $40 each time you do this. Do the math every time you save a little money. For example, if you save that $40 a week, you'll save about $2000 each year. And with the help of compounding interest you could get big, big gains over time. In fact, if you save that $40 weekly at a compounding interest of 8% then after forty years you’d have nearly $580,000.