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Money Secrets You Aren't Supposed to Know

Money Secrets You Aren't Supposed to Know

There are so many ways to save money that it’s impossible to list all the secrets. Every day, people pay less for airline seats, rental cars, credit card payoffs and new cars. Some people seem to be lucky and win contest drawings more than normal. People get higher interest on CDs or lower rates on loans simply by asking. Fees magically disappear at banks if you know what to ask. Being knowledgeable can help you make more money or save money. Here are some secrets to help you out.

Rental cars provide great options for vacations or even as a substitute for a second vehicle. If you use them on your vacation, the worry of a breakdown is never a problem. The company takes care of everything. If you only have one vehicle but occasionally need a second one, renting a car once a month is far cheaper than even paying insurance on the second car. You do have to be aware of some specific tips to save dollars on rental cars.

If you carry full coverage on your regular vehicle, there’s no need to add the high cost of insurance on your rental car. Call your insurance man to make certain your coverage transfers to a rental before you even begin the process. Don’t rent by phone or in person. One of the secrets to save hundreds of dollars is to use the internet to make your reservations.

If you use a debit card, be aware that most car rental places place a hold on an extra amount, between $100 and $500 dollars. Not knowing this could cost you fees for a bounced check or simply embarrassment at the car rental agency.

Airline seats are the same whether you pay full price or find discounts on the seats. You'll save money when you shop for the price by using the services of several different websites. There are bargain days for flights and if you can adjust your travel. Use those days to save as much as 50 percent on your ticket.

Another one of the secrets to save when flying is to cut down on the cost of baggage by rolling your clothes when you pack them. Pants, shirts and even undergarments take up less space when rolled not folded. If you want to carry more, wear a fanny pack for your purse and carry a large purse to pack clothing. You won’t pay more for baggage.

Find yourself up to your nose in interest payments on credit cards? As long as your payment history is good, you can negotiate a better rate on your card. Simply call and ask for one. If you are behind in payments and receive a small lump sum, you can negotiate a payoff at a lower amount. Banks want to retrieve at least the principal and a little bit of the payment. They know that a small profit is better than writing off the entire debt and they’ll be happy to work with you but keep that option as one of their secrets.

If you want to increase your odds of winning a drawing, one of the secrets is to slightly bend the corners of your entry. The bent corners prevent your entry into the drawing from packing against other people’s entries and make yours far easier to select. It’s not a guarantee you’ll win but it does increase your chances.

Watch out for fees on bank accounts. If you’ve been a good customer of the bank and still find there’s a monthly fee on your account, don’t put up with it. Every bank has a checking account that doesn’t cost you anything in monthly fees. Stop by and ask. Normally you don’t have to change accounts they simply make a change on the computer and you magically go into the new account with your same checking account number. Sometimes the fees go away if you have a direct deposit into your account. Most banks count PayPal as a direct deposit, so if you have a PayPal account, ask.

Banks normally don’t tell you when you can make more money on your money. Always look for the specials when CDs come due. However, these specials are normally odd numbers of months such as 10 months. If you allow them to roll over, they receive a lower rate of interest than one that’s a year.

Save on your auto insurance by looking for discounts that apply to you. Many agents forget to tell you about some discounts, like multiple policy discounts or good student discounts. You need to ask. The same is true on homeowners insurance. That security alarm you installed could save you hundreds of dollars.

Not all off brands or store brands taste as good as the name brands but many of them are the same product in different packages. The packaging and promoting of the brand is one of the secrets that keep you paying more. One major dog food manufacturer makes the same dog food for seven different companies. They simply put the food in different bags. Of course, you pay more for the snappier packaging of the name brand. Check labels for ingredients or taste test off brands to see if your favorite food is available cheaper.

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