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Managing Your Money

How to Cut Costs and Save Money from Bank of America Want to learn how to cut costs and save money without drastically altering your lifestyle? Explore these 5 easy ways to cut costs and save money. 5 easy ways to cut costs Bank of America Sensible cost-cutting strategies You can find easy ways to cut costs without drastically altering your lifestyle. These quick fixes can leave you with extra cash to boost your retirement contributions, set aside money for your kids' college educations or save up for a nice vacation. 1.Shop around for insurance. Shopping for a less expensive auto or homeowners insurance policy could save you hundreds of dollars per year, yet a quarter of people say they never shop for insurance alternatives. And another 34 percent rarely do, according to a 2012 Deloitte survey. While you're in the market for insurance or just looking for a lower rate, consider raising your deductible to lower the cost of your premiums. Also ask about discounts for bundling multiple policies under one insurer. 2.Adopt more efficient driving habits. There are many ways to save money when you drive. Batch your errands together to reduce driving time and save gas. Take a more fuel-efficient car on long road trips and don't carry extra weight in the trunk of your car, which can make your car use more fuel. The Bank Americard Cash Rewards™ credit card can also help you save by giving you 3 percent back on your gas purchases. 3.Buy store-brand groceries. Consumer Reports found that consumers can save as much as 60 percent by choosing store-brand groceries over the name-brand equivalents, and most work just as well or taste as good as their name-brand counterparts. Coupons and store loyalty cards can help slash your grocery spending, and you can earn cash back on groceries with the Bank Americard Cash Rewards™ credit card. 4.Install a programmable thermostat. Reduce your energy bills by using a programmable thermostat to lower heating or cooling costs when you're asleep or away from the house. The U.S. Department of Energy reports that turning a thermostat back 10 to 15 for eight hours could cut your heating bill by 5 to 15 percent a year. And when it comes to keeping your house cool, one simple tip to save on energy is to routinely replace or clean your air filters. The U.S. Department of Energy says doing that will lower your air conditioner's energy consumption by 5 to 15 percent, thus lowering your energy bill. 5.Get media savvy. There are also ways to cut costs when it comes to your reading and TV habits. For example, check out online subscriptions of your favorite newspapers and magazines. Those may cost significantly less than hard copy subscriptions. Also, your local library may have a free service to download many popular books instead of paying for each download. And look closely at your cable bill. Are you really watching all the channels that you are paying for? You may be able to lower your bill by cutting out some of those movie and sports channels. Taking a step further, many people are starting to ?cut the cord' entirely in favor of streaming media channels. Consider your and your family's viewing habits and determine what may be right for you. Make the most of your savings. These are just a few of the many ways that you can cut expenses at home and boost your savings. Once you've implemented these strategies, be sure to direct the extra cash to a savings account or retirement account and put that money to work for you. how to cut costs, ways to cut costs, how to cut costs and save money, ways to cut costs and save money

5 easy ways to cut costs