• Skip to primary navigation
  • Skip to content
  • Skip to primary sidebar

National Debt Relief

National Debt Relief - A+ BBB Accredited Business - Get Relief From Credit Card Debt, Medical Bills And Unsecured Loans

Talk to a debt counselor toll free:

800-300-9550

Get Relief From Credit Card Debt

Medical Bills and Unsecured Loans

  • Services
    • Debt Settlement
    • Debt Relief Benefits
    • Qualifications
    • Is Debt Settlement Right For Me?
    • Debt Help By State
    • Debt Relief FAQs
      • How Debt Relief Affects Your Credit Score
    • Free Budget Planner Worksheets
    • Free Debt Calculator
  • Options
    • Debt Relief
    • Bankruptcy
    • Credit Card Debt
    • Debt Consolidation
  • About Us
    • Who Is National Debt Relief?
    • Accreditations
    • Proven Results – Debt Settlement Letters
  • Contact Us
    • Apply Now
    • Contact Us
  • Client Login
  • Careers
HomeBlog BlogExperts Reveal the 8 Best Ways To Stretch Your Money
Video Transcript

Free Debt Relief Quote

  • National Debt Relief, LLC BBB Business Review
  • McAfee SECURE sites help keep you safe from identity theft, credit card fraud, spyware, spam, viruses and online scams

Experts Reveal the 8 Best Ways To Stretch Your Money

December 24, 2015 by National Debt Relief

Tweet
Share188
Pin1
Share4
Reddit
193 Shares

Graphs and Charts2016 is almost here making this a great time to assess how you could improve your finances next year. In most cases, the simplest answer is to find ways to stretch your money – just a bit further. Of course, there is no clear-cut answer to how you would do this. However, eight experts were recently asked the question of what are the best ways to stretch your money and here were their answers.

#1. Stretch your money by investing it

The best-selling author, Robert Kiyosoki, advises that the best way to stretch your dollars is through investing. According to the quote from a GoBankingRates.com article, you have to invest your money to make it work for you. He wrote the best-selling personal finance book of all time, “Rich Dad Poor Dad.” What he pointed out is that the important thing is to put your money to work for you instead of you spending all of your life working for your money. Smart investing in well-performing stocks and bonds can, over time, create a sizable nest egg, which would help you get more out of your finances. However, most experts say its best to not try to choose those stocks on your own but to put your money instead into mutual or Index fund. The stock market is extremely volatile and unless you’re a brilliant stock picker it’s better to invest in funds that are managed by people that do this full time and are experts in the market.

#2. Pay with cash whenever you can

Now that in many cases you can simply waive your smart phone to pay for things it may seem very passé to use cash instead. However, Clark Howard of “The Clark Howard Radio Show” advises that you to do this as much as you can. This may mean using the envelope method of budgeting, which is where you have envelopes with each labeled with one of your spending categories such as entertainment, groceries, eating out, clothing and so forth. He says if you use this system then you’ll have exactly the right amount of money in each of your envelopes for each of your spending categories and this can prevent you from going over budget. It will also keep you from accumulating too much credit card debt. This is bound to help you stretch your money.

#3. Freeze your spending

Nicole Lapin, news anchor, says that one good strategy is to go on a spending freeze with your spouse, partner or friends. You can learn all about it in a blog written on NicoleLapin.com, you could make saving more of a group effort by teaming up so, for example, when you go out for a night on the town you buy less expensive snacks and wine. She also suggests a “Biggest Debt Loser” contest with your friends. You can then share with each other how you’re reducing your costs, getting lower cell phone bills or better interest rates.

#4. Maximize your opportunities for saving

Jeanette Pavin is a financial reporter and author who has much experience helping people make their dollars go further. “Always look for a way to save and don’t let saving opportunities pass you by,” she advises. Whenever you’re about to make a purchase first look for a coupon or coupon code. She says that she rarely buys anything without applying for some kind of savings. She suggests you start by getting a rewards credit card that offers bonuses on gas and grocery purchases. When you have this type of card than buying something as simple as a tank of gas creates the opportunity to earn 2% cash back. She also uses her store loyalty card to earn discounts on the food she buys. There are an incredible number of opportunities out there to stretch your money, she says, and it generally requires only a little amount of effort to take advantage of them.

#5. Learn to negotiatehappy businesswoman

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.

Tweet
Share188
Pin1
Share4
Reddit
193 Shares

Do you qualify for debt consolidation?

National Debt Relief

National Debt Relief

National Debt Relief is one of the largest and best-rated debt settlement companies in the country. In addition to providing excellent, 5-star services to our clients, we also focus on educating consumers across America on how to best manage their money. Our posts cover topics around personal finance, saving tips, and much more. We’ve served thousands of clients, settled over $1 billion in consumer debt, and our services have been featured on sites like NerdWallet, Mashable, HuffPost, and Glamour.

Follow National Debt Relief: Facebook Twitter Instagram Linkedin

Filed Under: Blog Tagged With: financial tips, investing, spending

Primary Sidebar

Trusted By Our Clients

Excellent

Rated Five Stars Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

based on 12,550 REVIEWS

"Best decision I've ever made!"

They really care about "you" and making your life easier. They answer all of your questions and are very detailed.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Kolbie P.

"Saved me from drowning in the debt."

I was up to my eyeballs in debt and National Debt Relief saved me from drowning in the debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Joanna W.
Canal Winchester, OH

"Helped me settle my debts that were choking me."

National Debt Relief helped me settle my debts that were choking me.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Bobbie A.
Charlotte, MI

"Taken a big weight off of my shoulders."

National Debt Relief has taken a big weight off of my shoulders.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Richard D.
Piffard, NY

"Stopped all collection calls."

National Debt Relief stopped all collection calls and are working with my creditors to settle my debts.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Patricia G.
Oran, MO

"Now I can see a light at the end of the tunnel finally."

I was in a tough spot, financially and emotionally. Now I can see a light at the end of the tunnel finally.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Susan W.
Valparaiso, IN

"I'm sleeping better knowing they are helping me to eliminate my debt."

I'm sleeping better knowing National Debt Relief is helping me to eliminate my debt.

Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating Trustpilot star rating

Jodi W.
Springfield, OH
Trust Pilot Reviews

Free Debt Relief Quote

By submitting, you agree that the phone number you are providing may be used to contact you by National Debt Relief (including autodialed and prerecorded calls or text/SMS messages). Msg. and data rates apply. You are not required to opt in as a condition of purchase.

The sooner you call,
the sooner we can help:

800-300-9550

Recent Posts

  • Here’s Why You Need To File Your Taxes Early
  • Here Are The 6 Signs Your Future Spouse Is Bad With Money
  • How Will You Fall In The New 2019 Tax Brackets?
  • 5 Ways You Can Convince Your Spouse To Save Money Together
  • 6 Super Simple Tips to Get You Ready for Tax Season
  • 3 Strategies For Home Buying With Student Loan Debt
  • How To Strengthen Your Finances Before Another Recession
  • How To Get Started With Investing
  • Learn How To Send A Cease and Desist Letter To Creditors
  • How Furloughed Employees Finances Have Been Effected

 

FAQs about debt relief

AFCC disclosure

National Debt Relief, LLC BBB Business Review AFCC Top Ten Reviews Gold Top Consumer Reviews Trust Pilot
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms Of Site
  • Disclaimer
  • Sitemap

© 2019, National Debt Relief, All Rights Reserved.

Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes.
*Clients who are able to stay with the program and get all their debt settled realize approximate savings of 50% before fees, or 30% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating.