The Best Ways to Save Your Money

• Save your loose change. Putting aside fifty cents a day over the course of a year will allow you to save nearly 40% of a $500 emergency fund.
• Keep track of your spending. At least once a month, use credit card, checking, and other records to review what you've purchased.
• Never purchase expensive items on impulse. Think over each expensive purchase for at least 24 hours. Acting on this principle will mean you have far fewer regrets about impulse purchases, and far more money for emergency savings.
• Use debit and credit cards prudently. To minimize interest charges, try to limit credit card purchases to those you can pay off in full at the end of the month. If you use a debit card, don't rely on an overdraft feature to spend money you don't have. With either approach, you'll have more money available for emergency savings.
• Are you looking for an effective way to establish a budget? Beginning on the first day of a new month, get a receipt for everything you purchase. Stack and review receipts at the end of the month, and you will clearly be able to see where your money is going.
• It pays to practice preventative dental care, since a good cleaning routine helps prevent fillings, root canals, and dental crowns, which are expensive, painful, and no fun.
• To keep track of what you spend, put what you think you should spend for the month on transportation, food, entertainment, etc., into envelopes. This will help you avoid buying things you don’t need, and what’s left over can go into saving.
• Take advantage of discounts and/or incentive programs provided through your employer. For example, if the company you work for offers discounted rates for computers, fitness center memberships, movie tickets and passes to summer festivals, take advantage!
• One way to establish a savings discipline is to “save” an amount equal to whatever is spent on nonessential indulgences. Put a matching amount in a cookie jar for expenditures for beer, wine, cigarettes, designer coffee, etc. If you can’t afford to save the matching amount, you can’t afford the $4 specialty drink.
• Take the amount the item costs and divide it into your hourly wage. If it’s a $50 pair of shoes and you make $10 an hour, ask yourself, are those shoes really worth five long hours of work? It will help keep things in perspective.
• Aim for short-term savings goals, such as setting aside $20 a week or month rather than long term savings goals, such as $200 over a year. People save more successfully when they keep the short-term goal in sight.
• Save money by buying items online, in bulk. Some companies even offer free shipping on large orders. Clearance items are sometimes available, and good savings can be found on non-perishable groceries and diapers. This saves time and money!

Food

• Substitute coffee for other drinks. The $2 a day you could well save by buying a coffee rather than a cappuccino or latte would allow you, over the course of a year, to save over  $500.
• Bring lunch to work. If buying lunch at work costs $5, but making lunch at home costs only $1.00, then in a year, you could save a whopping $750+.
• Eat out one fewer time each month. If it costs you $25 to eat out, but only $5 to eat in, then the $20 you save each.
• Shop for food with a list and stick to it. People who do food shopping with a list, and buy little else, spend much less money than those who decide what to buy when they get to the food market. The annual savings could easily be hundreds of dollars.

Prescription and Over-the-Counter Drugs

• Ask your physician to consider prescribing generic drugs. Generic drugs can cost several hundred dollars less to purchase annually than brand-name drugs.
• Find the lowest-cost place to purchase prescription drugs. Make sure to check out not only your local pharmacist but also local supermarkets, area discount centers, and mail-order pharmacies.
• Purchase store-brand over-the-counter medications. Store brand medications often cost 20-40 percent less than nationally advertised brands. The savings could easily exceed $100 a year.

Banking

• Avoid bouncing checks or overdraft fees each month. The $20-30 you save by not bouncing a check each month would save you enough money to nearly fully fund a $500 emergency savings account.
• Reduce credit card debt by $1,000. That $1,000 debt reduction will probably save you $150-200 a year and much more if you're paying penalty rates of 20-30%.
• Make your monthly credit card payment on time. The $30-35 you save by not being charged a late fee each month on one card would save you hundreds of dollars.
• Use only the ATMs of your bank or credit union. Using the ATM of another financial institution once a week could well cost you $3 a withdrawal or more than $150 over the course of a year.

Insurance

• Shop around for auto and homeowners' insurance: Before renewing your existing policies each year, check out the rates of competing companies (see the website of your state insurance department). Their annual premiums may well be several hundred dollars lower.
• Raise the deductibles on auto and homeowners' insurance: Being willing to pay $500-1,000 on a claim, rather than only $100-250, can reduce annual premiums by as much as several hundred dollars.
• Assess your need for life insurance coverage. If your children have moved on, or if your spouse works, you may not need as much life insurance protection. The annual premiums on a term life policy would typically fully fund an emergency savings account
• Consider dropping credit insurance coverage on installment loans. Many consumers don't need credit insurance because they have sufficient assets to protect themselves in the event of death, disability, or unemployment. Terminating this coverage often reduces financing costs by three percentage points, a savings of about $1,000 on a four-year $20,000 installment loan.

Transportation

• Keep your car engine tuned and its tires inflated to their proper pressure. Doing both can save you up to $100 a year in gas.
• Shop around for gas. Comparing prices at different stations and using the lowest-octane (recommended by the car owner's manual) can save you hundreds of dollars a year.
• When driving, avoid fast start-ups and stops. Over time, you will save hundreds of dollars on lower gas and maintenance costs.
• Take fewer cab rides. Using public transit instead of cabs can save you $5-10 per trip or more. If you're a frequent cab user, the savings could be more than $500 a year.
• Check all airlines for cheap fares. Since no website lists all discount carriers, also check out the websites of discount carriers, possibly saving you hundreds of dollars.

Housing

• Don't pay for space you don't need. Americans have relatively large houses and apartments. Think about more efficiently using space so you can purchase or rent less square footage.
• Live relatively near your workplace. While this isn't always possible, driving 5,000 miles less a year can lower transportation costs by more than $1,000.
• Choose home repair contractors wisely. Favor contractors who have successfully performed work for people you know. Insist on a written, fixed-price bid. Don't make full payment until satisfactory completion of the work.
• If you have the ability to repair something broken yourself.  Save your money and use your skills to make the repair, the savings could add up to hundreds of dollars.

Home Heating and Cooling

• Ask your local electric or gas utility for a free or low-cost home energy audit. The audit may reveal inexpensive ways to reduce home heating and cooling costs by hundreds of dollars a year. Keep in mind that a payback period of less than three years, or even five years, usually will save you lots of money in the long-term.
• Weatherproof your home. Caulk holes and cracks that let warm air escape in the winter and cold air escape in the summer. Your local hardware store has materials, and quite possibly useful advice, about inexpensively stopping unwanted heat or cooling loss.
• Use window coverings to block or let in sunshine. In summer, use these coverings to block sunlight, keeping your house cool. In winter, open the coverings to let sunshine warm the house. You could easily save more than $500 annually while being more comfortable.

Clothing

• Look for sales at discount outlets. There are huge price differences between clothing on sale at discount stores and that sold regularly at many department and specialty stores, though keep in mind that prices at the latter are often deeply discounted.
• Consider purchasing previously-used clothes from Good Will, second-hand stores, schools or church thrift sales. With a little effort, you can find low-priced, high-quality used clothing items that can be worn for many years.
• Assess clothing in terms of quality as well as price. An inexpensive shirt or coat is a poor bargain if it wears out in less than a year. Consider fabric, stitching, wash-ability, and other quality related factors in your selection of clothes.
• Clean clothes inexpensively. Wash and iron clothes yourself. If you use a cleaner, compare prices at different establishments. A 50 cent difference in cleaning a shirt, for example, can add up to $100 a year.

Communications

• Assess your communications costs. As Internet and wireless use grows, many consumers are overpaying for unneeded communications capacity. For example, if you have a cell phone and two phone lines -- one for your computer -- consider receiving personal calls on your cell phone so you can give up one of the phone lines.
• Communicate by e-mail rather than by phone. If you're on-line, e-mail communications are virtually free. Even for subscribers, landline and wireless calls often carry per-minute charges.
• Be aware of your cell phone costs and how to reduce them. Cell phone use has dramatically increased communications expenditures in many households. Understand peak calling periods, area coverage, roaming, and termination charges. Make sure your calling plan matches the pattern of calls you typically make.

Entertainment

• Research free or inexpensive entertainment in your community. Use local newspapers and websites to learn about free or low-cost parks, museums, film showings, sports events, and other places which you and your family would enjoy.
• Give up premium cable channels or better yet, cable all together. It's a lot cheaper to rent one film a week than watch one on premium cable channels that may cost more than $800 a year.
• Borrow books rather than purchasing them. Borrowing books and reading magazines at your local library, rather than purchasing reading material, can save you hundreds of dollars a year.
• Attend high school rather than college or pro sports events. High school sports events rarely cost more than $5 and are often free, with hot dogs and sodas typically costing $1-2. College and pro football and basketball games rarely cost less than $20, and their concessions are usually several times more expensive.

Family and Friends

• Plan gift-giving well in advance. That will give you time to decide on the most thoughtful gifts, which usually are not the most expensive ones. And if these gifts are products that must be purchased, you will have the opportunity to look for sales.
• In families, discuss limits on spending for gifts. These limits not only tend to reduce expenditures; they also be greatly appreciated by the least affluent family members.
• Socialize at pot-luck meals rather than at restaurants. Because one wants to be generous to friends and family, there may be huge cost savings here.
• Consider writing letters instead of making frequent phone calls. Thoughtful letters are usually far more highly valued than phone conversations, and they are often saved by recipients for future reading.

Even If You Are Not a Super Couponer You Can Save Money on Toiletries

You’ve likely seen pictures of super couponers with their garages full of shelves with enough shampoo, soap, toothpaste, deodorant, toilet paper, and feminine products to last their entire life times with plenty of items left over to share with other people.  These super couponers get personal care items and toiletries on sale for pennies on the dollar. But for those of us who aren’t super couponers?  Well, toiletries can make a significant dent in your budget each month. I found for a family of 5.They easily spent $30 to $50 a month for toiletries and personal care items.   If you’re like me and have decided enough is enough, there are plenty of ways to save on your toiletries, try these nifty tricks:

·         Use Items on an As-Needed Basis:  Many times we use items more often than we need them out of habit.  For instance, do you have very dry hair?  If so, you don’t need to wash it every time you take a shower.  Put your hair up and skip the shampooing when you shower.  Some people with dry hair may only need to wash their hair every other shower or as little as twice a week.

·         Only Use as Much as Needed:  People are trained to regularly use more of an item than we need.  Think of toothpaste ads.  The toothpaste covers all the bristles of the toothbrush in most ads, but you may only need one quarter of that amount to clean your teeth.  Experiment with the right amount.  You may be surprised by how little you really need.

·         Learn to Make Your Own:  Scour the Internet for DIY recipes for personal care items.  I’ve seen recipes for homemade toothpaste, hand lotion, and deodorant.  I haven’t tried these yet, but I have switched over to making my own laundry detergent.  Not only does it work great, but it saves me a ton of money.  Next on my list is making my own toothpaste.

·         Find a Green Option:  There are some toiletries that you can avoid buying if you choose a reusable item instead.  For instance, woman can choose to use a cup for their menstrual cycle rather than tampons.  A cup can be used up to 10 years, saving you hundreds of dollars in monthly tampon purchases.   Other women have chosen to use reusable cloth pads rather than buying disposable ones.  You can eliminate the need for paper towels by using cloth napkins during meal times and using old towels to wipe up messes.  Some people even eliminate the need for paper toilet paper by using “family cloth” (small squares of reuseable cloths that get washed after use).

The Top 10 Household Money Saving Tips

Do your household expenses have you breaking out in a cold sweat? Have you created a budget, but still feel as if you'll never make ends meet? Then it's time you took a minute to relax. There are ways to cut costs on almost every expense. All you need are a few money saving tips.

·         Request interest rate/fee reductions, Depending on the balances on your credit cards, you could save hundreds of dollars each year by making a few simple phone calls. When speaking to a representative, bring up the fact that you've always paid your bills on time and often pay more than the minimum amount due.

·         Ask service providers for discounts, they may be willing to offer discounts to keep you as a customer. Simply call the company and explain that times are tough and you would like to cut costs on your bill. It may require signing up for another two-year agreement, but if you plan to have the service for that amount of time anyway, big deal.

·         Cancel unused services, as they can eat at your household budget without providing anything in return. For example, if you find that you never use your landline phone, have it disconnected. You can also cut costs by getting rid of subscriptions to newspapers, which can often be read online for free.

·         Learn new skills for yourself; have you ever considered how much an oil change costs? Sure, it's only around $30, but four oil changes a year is $120. The cost of oil and a filter is around $10. See how doing things yourself can save money? You can learn many useful skills by attending evening college classes, going online, or even heading to the library.

·         Cut energy costs, some money saving tips require you to spend a bit of money at the outset. For example, switching to energy efficient light bulbs and purchasing energy saving appliances can save you hundreds of dollars each year.

·         Cook more meals at home, Eating out every night is not only hard on the wallet, but also hard on the waistline. Instead, why not find some recipes online and start cooking more meals at home? Not only can you try something new each night, but also you'll save a ton of money.

·         Clip coupons, the key are to only clip coupons for products you already buy. A few more money saving tips for coupons include shopping at stores that double or triple coupons, and using coupons on sale items, especially buy-one-get-one-free deals.

·         Compare prices on all kinds of purchases, thanks to the Internet, you can quickly compare the cost of items at several different stores. Even comparing the cost of items in the store is easy thanks to unit prices listed on store shelves.

·         Create a list before shopping, the biggest mistakes people make is to go to the store without a list. This not only leads to impulse shopping, but also you often get home and don't have the ingredients to make a complete meal. Make a list and stick to it!

·         Seek out discount and outlet stores, such as Family Dollar, Costco and Big Lots can save you a ton of money. If you want to save even more, look for outlet stores. There are outlet stores for clothing and even for groceries. Before you turn your nose up at outlet grocery stores, consider this: Grocery outlets mostly specialize in items that aren't old, but simply have older packaging or were discontinued.

Stay Tuned to More Tomorrow – Bird.