About Eastwood

7 Tips to Save Money

The start of a new year is the perfect time to eliminate bad habits, and replace them with good ones! If saving money is a priority, but has been a struggle, there are some simple and relatively painless ways to make it happen.

For example:

1. Use your local library. You may not have visited one for a while, but you'll be surprised how satisfying it is to save money by borrowing must-read books, videos and CDs rather than buying them.

2. Use online banking and bill pay. Both of these services are free at Eastwood Bank and offer you a way to keep closer track of your spendable balances and save cash on stamps and envelopes.

3. Keep your debt under control. If you can put yourself on a "cash/debit" diet, that's the best way to go. But if you're a strong credit card user, be sure to pay off your balance in full each month to avoid costly interest fees.

4. Dine in. Whether it's take-out from a restaurant rather than eating there, or cooking for friends and family potluck style, you'll save big on beverages, tips and tax and in some cases a babysitter.

5. Be a bargain shopper. Compare prices, utilize local coupon services or shop during post-holiday sales to get the deepest discounts on every day items. Or, if you're in the market for large items like a new car, be sure to consider insurance, maintenance and repair costs before you buy. And if you're a technology lover, consider data plan and accessory pricing before committing.

6. Choose affordable entertainment. If you have a family with children, be sure to tap in to community newsletters and join organizations that offer free entertainment like the zoo, aquarium or art center. You can also take advantage of "kids eat free" nights at local hot spots, and see movies in the afternoon for a less expensive option.

7. Make the money you do have work harder. Deposit rates are pretty much non-existent, but Eastwood Bank currently pays 1.75% on their Rewards Checking account, which is higher than many CDs. There are some qualifications, but many folks find them easy to meet. To find out more, call your local Eastwood Bank branch or email info@eastwoodbank.com.