Home Money Pennies To Dollars, Start Bulking Up Of Saving

Pennies To Dollars, Start Bulking Up Of Saving

Pennies To Dollars, Start Bulking Up Of Saving

Pennies To Dollars, Start Bulking Up Of Saving: Hey guys, today I am sharing some useful infromation about bulk saving of money. May this information helps you.

If you save little but don’t save much, you’re a penny wise but a dollar stupid. Here’s how to save properly.

That is, don’t save a few bucks here and there when you may be saving hundreds or even thousands.

Today I’ll explain what it means to be penny wise but dollar stupid, and teach you how to start saving.

Pennies To Dollars, Start Bulking Up Of Saving

Pennies To Dollars

Penny-Wise But Dollar-Blind Person Saves In Wrong Areas

Let paint you a picture of what it means to be penny wise but dollar stupid using a fictional character named Richa.

Richa is reviewing his monthly invoices and realises he’s spent $60 on morning bagels in the last 30 days.

To save money, he resolves to eat breakfast at home and use the money saved towards debts or savings.

But Richa is still losing thousands of dollars a year by overpaying his mortgage. In other words, the $720 he saves on bagels is dwarfed by the savings on his mortgage.

Richa is focusing on a minor savings source when he should be looking for real savings.

Many Of The Methods People Save Don’t Stack Up

People often say they are doing all possible to save money. But when I dig deeper, I discover that everything is bare-bones. Saving a few dollars won’t cut it when you need to save hundreds.

Consider a coffee example. It estimate that the average American consumer spends $21 per week on coffee. You could save $1,100 a year by not going to the coffee shop every morning.

That amount is negligible when compare to $2,500 you could save by packing your own lunch instead of eating out every day.

People also try to save money by travelling farther to get cheaper petrol or shopping at different grocery stores for the greatest discounts. In the end, they squander more time and money than you do looking for deals.

Instead, Focus On Substantial Savings

If you’re serious about saving money, it’s time to go dollar savvy. The way to do this is to focus on saving real money rather than little quantities. Here are some concrete tips for shopping savings:


Since a home is one of the largest purchases you’ll ever make, there are numerous ways to save money on your mortgage. Some ideas:

  • Put down at least 20% to avoid paying mortgage insurance.
  • Consider a smaller home or downsizing if you already own one.
  • Make extra payments frequently to reduce your interest payments.


Buying a smartphone or other equipment just after a newer version is introduced is one of the finest methods to save money. The current device’s pricing will drop upon introduction.

Also, you may not need limitless plans or even a smartphone to buy. Switching to a cheap wifi plan can save you a lot.


Automobiles are another wonderful spot to save money because they are so expensive to begin with.

One of the easiest methods to save is to avoid buying new because a used automobile is cheaper and has less depreciation.

Whether you buy a new as well as used automobile, do your homework ahead of time to save time at the dealership.

Saving Means Paying Less Interest As Well As Less Expenditure

When individuals talk about saving money, they frequently only consider methods to spend less on purchases. But what about the other places where you overspend on interest?

In the previous scenarios, two substantial purchases (mortgage and auto loan) had interest costs equal to the purchase price. But, just as you may save on purchases, you can save on payments.

The trick is to go back to your lenders and restructure your loans. This isn’t limited to your home or car. You can renegotiate credit card and student loan APRs. Here’s a basic overview:

  • TransUnion, Experian, and Equifax offer free annual credit reports.
  • Request quotations from your creditor’s rivals (get two or three at least)
  • Contact your lender to renegotiate your loan at your preferred interest rate.
  • Mention greater offerings from competitors to bolster your argument.
  • Negotiating better loan conditions could save you hundreds, if not thousands of dollars over the following few years.

Smaller, Recurrent Purchases Also Reduce To Save Significantly

Savings aren’t limited to big-ticket items. Cut your phone and cable expenditures, as well as insurance.

Saving money on your phone is easy if you cut out the extras, switch to a data-free or low-data plan, transfer carriers to get introductory rates, or even go prepaid.

Much the same can be done to reduce your cable bill. Call your cable company’s cancellation department to negotiate decreasing your bill.

Auto insurance is another area where you may save a lot of money by shopping around for a cheaper rate.

Reduce your coverage if the car is worth less than 10 times the cost.

Earning More Money Also Terrific Strategy To Get More

Saving money isn’t the only method to balance the chequebook. Making more money is sometimes the answer. If you’re struggle for making ends meet, consider asking for a raise or renegotiating your pay.

Some Articles To Get You Started:

  • Get Sick Of It! Why don’t you do a side gig?
  • 40 Easy Side Jobs Anyone Can Do
  • 35+ Side Hustle Ideas Anyone Can Do To Earn Extra Cash
  • Be careful not to drown the infant.
  • Savings shouldn’t go so far that you shoot yourself in the foot.

For example, if you cut your coverage too much to save money on your vehicle insurance, you may end up pay for repairing out of pocket if you get into an accident.

Other examples of penny-pinching to the harm include ignoring car maintenance and skipping doctor visits.

Bottom Line | Pennies To Dollars

Being penny wise but dollar foolish is all about saving money smartly. You can save pennies here and there, but your efforts will be dwarfed by what you lose if you don’t take advantage of the large savings chances.

Also Read: