Being a Bad Tipper
Less practical and more karmic, , licensed associate real estate broker, says being a Grinch with tipping isn’t a way to get ahead on your savings goals. “The opportunity costs of being known as ‘cheap’ as opposed to ‘generous’ are great! However, the amount of money you save by skimming a few bucks here and there are not life-changing,” he shares. Ah, you won’t even have to go out when you’ve got a great looking nook like this.
Prepaying Your Taxes
Much like your mortgage, if you use your extra cash to prepay your taxes, Rosen says there are better uses for the extra dollars. While some do this in an effort to avoid paying them late—which carries a steep penalty—he notes a better money-saving tip is to place the funds in a low-risk cash flow investment. “You will come out ahead, and it’s probably a better investment. The government is going to stay in business with you paying on time, there is no benefit to you to pay them in advance,” he explains.
Always Setting the Thermostat Low in Winter
Sure you’re trying to save a few bucks by keeping it chilly in the house during winter but it could lead to you getting sick more often. Feeling lousy in winter only makes it worse. Find out if a Wifi thermostat is for you? It might be great adjusting the temp without having to get up.