This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

6 Big Scores For Savers

Trying to save money can often seem like an endless series of small battles. You give up an extra cup of coffee here, you find a dollar-off coupon there, and hope these small amounts add up to something worthwhile. Over time they can, but there are occasionally big scores to be made in saving money -- one-time moves that have an immediate impact on your saving account and your morale about saving.

Here are six examples:

1. Buying a car estimated that purchase incentives for new cars were running at 8.2 percent of the sticker price as of mid-2013. On a typical new car purchase of about $30,000, that would earn you a savings of $2,460 if you make sure to not settle for the sticker price. As a rule, expect bigger percentage discounts on more expensive cars and smaller ones on lower-priced models, but careful shopping when buying a car can save you thousands.

2. Shopping for mortgage rates

When you shop for mortgage rates, it may seem that they are all more or less the same, so what's the difference? It's important to remember that little things matter, for two reasons. One is that the house may be the most expensive thing you ever buy, and the second is that you may be paying interest on the purchase for 30 years. As a result, even small differences in interest rates add up to significant dollar amounts. For example, the difference between a 4.35 percent and 4.30 percent mortgage may seem small, but on a $200,000 30-year mortgage, that difference would amount to $2,117 in interest charges -- well worth saving if you can.

3. Buying a house

Speaking of buying a house, not only is it important to negotiate on price, but also on things the seller could potentially do to improve the property before you move in. Sellers are often under the gun to complete the transaction, so don't be afraid to ask for, say, an updated water heater that would save you having to replace an aging one in a couple of years.

4. Negotiating a raise

Don't go into employee reviews unprepared. Document what you have done to add value for the company, and research the job market so you know your value. Don't present this as an ultimatum, but merely as a means of rationally demonstrating your worth. Any extra difference this makes can show up in your paycheck week after week.

5. Choosing a checking account

Free checking accounts are getting scarce, but you can still find them if you shop around. Try looking online, and also see what you can do to meet a balance threshold that would qualify you for free checking. The difference could save you more than $100 a year.

6. Putting money into a savings account

According to the FDIC, the average savings account these days is paying just 0.06 percent in interest. However, if you shop around, you can find some paying in the 0.80 percent to 0.90 percent range, a difference of about $200 a year on a $25,000 account.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs