We bet you would love to receive an influx of cash in your bank balance. While that might sound easier said than done, it doesn’t have to be at all. We are therefore offering five ways to help you successfully boost your bank balance.
Become a Successful Negotiator
It is time to master the art of negotiation. You, therefore, need to stop paying full price for items and start bartering with your supplier to receive a discount. For example, if an advisor will not provide a discount rate, you should ask to be referred to their manager, who will have more authority to provide you with a better deal for a product or service. For homeowners, if you are making a large purchase, ask if they could knock something off the price or throw in additional products, etc.
Sell Your Gift Cards
We all will receive a gift card we do not want or need at some point. However, instead of allowing the card to sit in a drawer, you could sell gift cards online to receive a superb rate for the gift card value, which could be quickly deposited into your bank account. So, you can add the money directly to your savings for some worthwhile spending.
Browse the Market
We are all guilty of paying the first price we see for an item. However, it is important to browse the market so you can receive a value for money product or service. Comparison websites are a helpful way to collate pricing in one place so you can discover the best fee – but don’t be afraid to look at individual websites, either, because you might just find a better deal. Your bank balance will thank you for it.
Start Staying In
If you want to boost your savings, save up for a summer holiday or purchase a whole new wardrobe, it might be time to make some cutbacks. For example, stop splashing the cash on dining out and start staying in a little more. So, stock up your refrigerator and cupboards with plenty of cooking ingredients that will allow you to create delicious dishes at a fraction of the price. Also, don’t forget to ditch the expensive store lunches and start taking a packed lunch to work.
Automate Your Savings
If you often forget to put money into your savings account each month, we recommend setting up an automatic transfer from your everyday bank account into your savings account. You can, therefore, add money to your savings as if it is a bill, and you should ensure it is taken from your account every payday, so you don’t experience any unwanted surprises. You can guarantee the savings pot will increase in no time.
There are a million and one ways you can boost your bank balance. You simply need to look for an opportunity. So, look for ways to start increasing the savings pot, reducing debt and cutting back on unnecessary expenditure. So, haggle with suppliers, sell unwanted items and don’t be afraid to be a little bit frugal when you need to be. You will be happier for it.
Divya says
I should sell my gift cards! We moved away from California and I’ve collected so many gift cards over the years for restaurants we can no longer go to!
Kristina Paché Ferency says
Great tips! We do stay in for date nights especially at the moment due to having a newborn son. We do fun family nights too. It’s fun and saves money!
Jessica Harlow says
These are all really good suggestions on how to boost your bank balance. For our family, staying in and finding cheaper or free options to go out and do things or cook at home really does make a huge difference in our savings. There tends to be more money left at the end of the week if we don’t eat out!
Jessica Harlow recently posted…Gift cards are great surprises for Easter Baskets! #GE20per50
Liz Mays says
I can see how learning to negotiate effectively could be a good strategy. I should definitely be comparing prices more often too.
Alicia says
This is a great idea. Thanks for sharing. I have been trying to find ways to do this.
Alicia recently posted…Keep the Smell of Diapers Out with Baby Bubula
Neely Moldovan says
These are awesome tips! We always sell gift cards we wont ever use!
lisa says
People really have to get better at finances and it’s mainly about silly spending, at least for the people I know. Common sense tells you to put money away before blowing it on unnecessary items.
Toughcookiemommy says
I think automating savings is great idea. It’s something that I have done over the years and it really helped me save money.
Janella Panchamsingh says
These are great tips for anyone looking for practical ways to save money
Nirav patel says
Your article is very helpful for me about boosting bank balance and after read this article my all doubts clear.You seem to have a good understanding about it.Thanks for sharing this post and we will try to keep touch with your site.