Stretch Your Dollar: Five ‘life hacks’ that can save you money

Stretch Your Dollar

(WTNH)– It’s the first full week of April and it also kicks off financial literacy month. We are stretching your dollar with five “life hacks” that can save you money!

By now you’ve likely heard the advice to brew your coffee at home and download a few apps to your phone to save money. But this financial literacy month it’s about renewing your financial goals and finding different ways to keep more money in your wallet.

Go Banking Rates with these hacks you may not have thought of…

The first is to do away with your low-interest savings account. The national average on a savings account is .05%. High-yield savings accounts offer .50% APR and higher.

Try shopping with discount gift cards. Gift card exchange websites sell discounted gift cards for all your favorite retailers and for less than their remaining value. Stock up and use them instead of cash for your future purchases.

Another is buy prescriptions at Costco or Sam’s Club without a membership.The site says their prices rival other pharmacies and you don’t have to shell out the cost of a membership to buy them.

Lastly, get back to the basics and carry cash. Research shows that if you pay in cash rather than with a credit card, you’ll spend less. Carry large bills like $50s or $100s, which are hard to break. It’ll keep you from making impulse purchases.

Just a few tips to save you even more money this April Financial Literacy Month. For more tips, click here.

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