Cheap Living Tips

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With the current global economic climate, many people are considering how to cut their costs and reduce living expenses significantly.

Fortunately, there are lots of cheap living tips that can help you to reduce your expenses without compromising your quality of life.

1. Use Ibotta for Easy Cash Back

Ibotta is a great cashback app that allows you to earn cash for buying everyday items, including groceries (see our list of the best cashback apps here). This free rewards and payments app will enable you to accumulate cashback whenever you shop or pay using the app.

There are literally thousands of ways that you can earn cashback on your purchases since Ibotta is partnered with over 1,500 retailers and brands. So, whether you’re buying clothing, electronics or groceries, you can start accumulating cashback.

2. Use Rakuten to Save Money on Online Purchases

Another online and app-based platform that gives cashback on your purchases is Rakuten. Formerly called Ebates, the main objective of Rakuten is to help you to save money on the items you’re already purchasing.

There is a full list of stores that offer special deals for Rakuten users, and there is also a $10 sign up bonus. Rakuten has a browser extension that makes it extremely easy to save. With the browser extension installed, you’ll be notified whenever you’re visiting a site that offers cashback through Rakuten. All you need to do is click the notification so Rakuten can track your shopping and credit you with the cashback. Rakuten also offers a refer-a-friend program, where you can earn $25 for every friend who signs up and starts using Rakuten.

3. Maximize Credit Card Rewards

For many of us, credit cards are a way of life, but they can also be used to live a little more cheaply. There are many excellent cashback credit cards that make it simple for you to earn rewards for all of your purchases.

You can select a card that offers rewards that are best suited to your spending habits and preferences. So, if you like to travel, look for a travel rewards credit card that gives points/miles and additional rewards when you put travel-related spending on your card.

However, if you don’t tend to travel, look for a card that will reward you the most in areas where you spend the most. For example, a tiered rewards card can offer a higher cashback rate in grocery stores, while still offering some cashback on your other spending. Other cards like the Chase Freedom allow you to earn 5% cashback on purchases in categories that rotate each quarter.

4. Let Trim Negotiate Your Bills For You

If you’re trying to live a little more cheaply, you need to be aware of what exactly is going out of your accounts every month. Unfortunately, many of us don’t have the time to track whether our rates are as low as they could be, or if we are paying for subscriptions that may not be needed.

Fortunately, the Trim app can assist you with this. Trim acts as a virtual financial assistant; you link your accounts to the app, and it will constantly monitor your financial activity, looking for savings. This means that you don’t need to comb through your statements and search the internet for the best deals. The app will automatically track and notify you of subscriptions you’ve forgotten to cancel.

Possibly the most important aspect of Trim is the bill negotiation service. They will negotiate on your behalf to lower bills like cable TV, internet, and wireless phone service.