It’s that time of year, when the kids go back to school, and when parents and adults alike think about their savings. Now that you have spent money for the kids return to school, and major spending of Xmas is right around the corner.

There are some simple things to think about, Yahoo Finance offers the following.

Telephone costs can be extreme, not to mention the added costs of the Internet, and long distance calling. Telecommunication companies are offering huge savings to convert you to their services. Check all service plans carefully, buy the plan you require, not what sounds good at the time. Go for the bundled deal, including Landline, Internet and Wireless. Usually, they can save you lots of money.

Credit Card Debt can be the killer. Most carry very high interest rates. Do your homework, don’t fall for the 0% credit card being offered as an introductory program, chances are it will explode your interest rates after 6 or 12 months. Try to get a deal on a low interest rate credit card that doesn’t increase. Shop around, most banks are more than willing to negotiate their product and transfer your balance to their credit card.

Bank accounts can also result in favourable interest income. The competition has been pushed to sweeten deals for your money. Be cautious, some banks require minimum balances, and have weird fee structures, that could wipe out any interest you might earn.