Save Money Tips

Here is an outstanding short video on basic money saving concepts.

I think that most of the challenge of saving money is psychological, and so it’s good to be inspired by stories of people who have gotten out of debt. Not only can you glean practical methods for saving, you get in the mindset of being a saver, and this is a huge step. Here are four stories of people who were able to get out from under substantial debt. By the way, the common thread? Cut up the credit cards! But you knew that already, didn’t you?

1) Starbucks has promotions called “pairings.” You can save as much as 90 cents if you buy a snack or breakfast with a drink that they choose to combine with it.

2) If you bring your own cup you’ll get 10 cents off your beverage.

3) If you can save the receipt from a Starbucks visit in the morning until the afternoon, after 2 p.m. you can get an Grande cold beverage for 2 bucks. Even a Vivanno Smoothie.

4) For brewed coffee, try the coffee press. It costs around $3 (less than two Grandes) and you’ll get four 8-ounce cups from it.

5) Probably the best tip to save money at Starbucks: A refill on brewed coffee is 50 cents and if you have a Starbucks Card they’re free!

You can get aggressive as far as saving goes, but the reality is that you shouldn’t limit yourself to focusing only on not spending. If you have extra time, why not convert that into cash by finding ways of helping people get things done? Here’s an outstanding post from Ron over at The Wisdom Journal– it’s a whole bunch of ways to make extra money. Breaking away from the TV for even a few hours a week will make a huge difference in your income over the course of a year, and who knows, you might make some new friends while you’re at it.

photo credit: Matt McGee

OK, here’s your money saving tip for the day. I use this myself so I know that it saves me money whenever I’m going to do my ‘big’ shopping, for groceries and household stuff. I keep my coupons near the door so that I don’t waste time looking for them before I leave. I just make it a habit when I read the paper (especially Sunday’s) to set aside noteworthy coupons but ALWAYS WALK THEM TO MY LITTLE SHELF near the door so that I don’t forget them when it’s time to go.

photo credit: clspeace
Winter is on it’s way in the Northern Hemisphere, and here’s a good little list for saving money on electricity bills, from Bukisa.

Hey have you heard of slickdeals.net? It bills itself as a ‘community driven bargain hunting’ site, where you can find discounts, promo codes, reviews and price comparisons. What I like is that there are all kinds of obscure items, as well as the usual electronics and clothes. You’ll find some very aggressive savings on the site, and I’d suggest putting it right into your feed reader for finding the latest deals quickly.

It’s a great idea: using cheap basic products, instead of paying retail for higher priced products with nice packaging. The Simple Dollar has a nice list of 12 ways that you can avoid paying that retail markup, through substitution. In some cases using just a little imagination and a bit of elbow grease can really save you some money.

photo credit: goosmurf
Hey, have you hear about Google Voice? (pardon the pun)
Imagine having one phone number that you keep forever, whether you change cell phones or move across the country. You give this number out to people and the call gets routed to any phone you want. Interesting idea, and empowering for consumers: doesn’t everyone have a story about getting gouged by a cellphone carrier?

The thing is, and the reason this saves you money, is that you can choose to have ‘extras’ like text messages and call forwarding taken care of by Google Voice, NOT your provider. Simply have people use your Google Voice number for text messages as well as calls that might go to voice mail (ie all calls!). You can turn off SMS notification to your phone in Google Voice, then text messages go to your Gmail, and that will save a lot over the course of a month. You can listen to voice messages, or they are transcribed for you, also in your Gmail box.

So just ratchet your plan down to voice calls only, and start saving money immediately by taking these expensive add-ons OFF your plan.

photo credit: Deanster1983
Here’s a money saving tip that can only help you, if you are flexible enough to be able to use it. Bing Travel basically absorbed farecaster.com in 2008, but regardless of the name, the technology lives on in its new home as a wonderful way to save money on airfares.

The idea is simple: enter your itinerary, then check the ’7-day Price Predictor’ in the upper left hand corner of the page for advice on whether to buy now or to wait until you are closer to flight time. The results aren’t 100% reliable, but at least you aren’t ‘flying blind’ when it comes to having an idea if the price you have been quoted on a given route is high historically, or not.

Now, if the flight on which you are waiting for a price drop gets full while you are waiting you’d have to book at a different time, but if you have a little bit of flexibility you’ll essentially be paid for it, if the fare prediction says to wait and it’s correct. It’s an amazing piece of technology, when you think about it, and we aren’t talking about saving a couple of bucks either: with a little luck, you can save a whole lot more

Housing is one of the biggest expenses we face, so if it’s really time to look hard at expenses and saving money, maybe it’s time for renters to at least consider moving to a cheaper apartment. The savings can be considerable, and who knows, you might like the new place even better. Here’s an interesting piece from the New York Times on the subject. Interestingly, one of the women in the story even decides it’s time to move out of New York altogether. While that may seem extreme, the situations that some people find themselves in related to debt can be pretty extreme too. What’s that they say about desperate times requiring desperate measures?

Like millions of Americans, you may find it very challenging to spend less on things and save money in the bank for your future. It’s not so surprising because education, health care costs and inflation are on the rise, there are more malls than ever and cool technology is becoming more and more affordable, which means companies are manufacturing electronic products and selling them at prices that most people can’t resist paying for.

Based on statistics, people are making more withdrawals a month from from their savings accounts. This means that more and more people end up with little or no money to spend before their next salary. In spite of the rising cost of commodities and rising inflation, people are spending more than ever instead of saving.

Whether you’re making enough money to meet your and your family’s needs and financial obligations or you’re on a meager income, it’s never too late to start saving money. Here are a few tips to help you get started:

Save Money Tips #1 Tip: The Big One-Curb Your Buying Impulse

Seven out of 10 people end up buying something they like on impulse or at first glance. A simulated sociological study found that people who bring cash or credit cards with them while they are window shopping are more likely to end up buying things on impulse than if they had little cash or didn’t bring their cards with them.

You can save money by exerting a conscious effort not to give in to your buying impulse. If you see something you really like, save for it instead of buying it the first time you see it. When you’re shopping, shop for things that are necessary or  that you need immediately. If something isn’t crucial or immediately needed, don’t buy it right away. Wait a while and see if you still want it the next time you see it.

Save Money Tips #2 Tip: Learn to Budget

Creating a budget is a great way you can manage your money. A budget can help you identify and spend on things that you really need. If an item is not specifically in your budget, you simply do not spend on it. Thus, a budget eliminates unnecessary purchases. Any money that doesn’t get spent can go to a savings budget, which you can later on decide to spend on something you want.
Save Money Tips #3 Tip: Compare Prices

Whether you’re buying clothes, food, gas or any other commodity, it’s a good idea to compare prices. Thanks to the Internet, you can compare prices of various goods and services online without having to drive around or spend too much time doing it. You’ll be able to find the best deals and save money by doing price comparisons before shelling out any money.

Likewise, take advantage of warehouse type stores where you can buy many items in bulk much more cheaply than if you were to buy them in retail stores.

Save Money Tips #4 Tip: Eat In, or Prepare Food Ahead of Time

You can save money by preparing your meals ahead of time and bringing them with you to work or wherever you go. You won’t find yourself going through the drive-thru or sitting in a restaurant and spending more money on food you could have prepared yourself. You can make a big batch of food at the beginning of the week, put them in small containers and freeze them. Take one with you when you go to work and simply microwave them when you’re ready to eat. Likewise, you can save money by drinking water instead of soda. Have a bottle of water with you and drink that instead of soda. You’ll be amazed at how much money you’ll save by avoiding the soda machine. Water is much healthier too.

Who doesn’t want extra money? With the rising costs of just about everything today — food, housing, education, health care, cars — extra money is always a welcome addition to the budget. More money means the ability to save more for the future, whether it’s towards retirement or for your children’s education. When you have more money in your bank account, you’re more liquid, and you know you have enough to spend should an emergency crop up.

So how exactly can you make extra money? Start by looking at how much time during the day you basically aren’t doing anything. Identify your idle or free times. These times are those times you’re resting, napping, reading, watching television or doing your hobby. These times are the perfect time for you to get into activities or projects that can earn you money on the side, in addition to your regular income. If you have huge blocks of free time on some days, why not consider getting a part-time job? Instead of simply doing nothing during your free time, you can engage in something that you like and help you make extra money too.

There are several reasons it’s a good idea to get a part-time job. For one, it’s an additional source of income. You can save the money you earn from a part-time job for a vacation you’ve been wanting to take for a long time. Another option is to buy stock with the money, and invest in your future. Or you can perhaps put the money towards your children’s college funds or save it for a new car or house payments. With a part-time job, you wouldn’t be sitting idly and wasting your time. You can be much more productive of your time.

If you’re a student, a part-time job can be a valuable experience and introduce you to the real world. You can learn new skills and know your way in and out of a particular job. And if you’re lucky enough to find a part-time job that’s in line with your career goals, you get to already have one foot in the door so to speak. When you graduate, you already have a place to apply for a full time job and climb up the company ladder.

Are you a social person? Do you love meeting new people and networking? A part-time job can provide you with this kind of opportunity. The part-time job you find may not be a job you envision yourself doing in the long-term, but you are likely to meet people who can give you leads to other jobs or to people who may be working in the type of job you want.

Part-time jobs are everywhere. Start by looking at the classifieds section of your newspaper. If you’re a student, there’s probably a bulletin board in your campus where part-time jobs are posted all the time. If you want to work for a specific company in your area (e.g., fast food, department store or office), call them up or go to their place of business and ask if they have part-time positions available. Ask your family, relatives, friends, friends of friends or anyone you know if they know of a company that’s looking to hire someone part-time. If you’re the entrepreneurial type, you can start making extra money by offering your services while you’re at home. Some part-time jobs you can operate right from your own home include tutorial, writing, web design, home repairs, party planning and such. If you’re Internet savvy and willing to learn new skills, there’s a lot of people who run online businesses who may be needing a virtual assistant — someone who can respond to their e-mails, do minor updates on their sites, post online ads, etc.
How many hours you devote on the part-time job depends on the job you take as well as how much hours you’re willing to put in. You can work only a few days per week, in the mornings or afternoons, or even during the weekends. Of course, if you already have a regular job, you will have to do some balancing to make sure that your part-time job doesn’t take away from the hours you devote to your full-time job. The key is efficient management of your time and energy. Once you get the hang of managing your time wisely, you’ll see that getting that part-time job is paying off big-time.

Even if you’re living on a modest income, the opportunity to save money or cut costs on many areas is always a welcome thing. In spite of the rising costs of health care, education, basic goods and other commodities, spending is still at an upward trend. If you’ve been wanting to save money but have no idea where or how to start, here are five simple but effective money saving tips.

Tip #1: Stop the Magazine Subscriptions

The typical American family subscribes to an average of four magazines each year. The average yearly subscription to these magazines is $20. If your family subscribes to five magazines, you’re spending $100 each year on subscription alone. You can save money by reducing the number of magazine subscriptions you have or stopping all of them altogether. Most magazines nowadays have online versions, many of them offering free information. Likewise, libraries would have these magazines so you’ll save on subscription costs if you simply visit your library to read these.

Tip #2: Buy Your Non-Perishables in Bulk

Many items would save you money if you buy them in bulk at warehouse stores like Costco. Non-perishable consumables like toilet paper, paper towels, detergents, canned goods, cleaning supplies come out much cheaper if you buy them in bulk. There are occasions when buying perishable goods in bulk can save you money, such as when you have an upcoming party or gatherings. You’ll find you can save money by buying fruits and food items in bulk for these occasions instead of buying them at your local grocery stores.
Tip #3: Cut Back on Eating Out

Dining out has become an American way of life. It is now usual for families to eat out instead of sit down around the kitchen table and enjoy home cooked meals. Is eating out a habit that you and your family have? If so, consider cutting back on that and see how much money you save by doing so. You’ll discover that by limiting the times you eat out you can cut down your food budget by 40% or so.

Tip #4: Follow a Weekly Meal Plan

If lack of time is your primary reason for not cooking your meals at home, consider making a weekly meal plan and then cooking meals in big batches once a week, freeze them and then simply heat up the portions you’ll eat each meal. Another way you can cook your meals is to prepare all ingredients the night before so that they’re ready the next day after you get home from work. Save those times for eating out for special occasions.

Tip #5: Create Your Own Skin Care Products

You can keep your skin healthy and you looking beautiful while saving money. Visits to a dermatologist and buying all those expensive skin care products can seriously put a dent on your budget. The thing is, skin care doesn’t have to be expensive. There are items in your pantry that you can use to create simple homemade skin care products. For instance, you can replace that expensive exfoliating product with  honey and oatmeal mix. And if you seep ginger in a bath, it can help soften your skin. And if your tired skin needs softening, cucumber and milk will do the job.

Don’t expect the price of gasoline to go down anytime soon. If you live on a low income or you have a small budget, you need to be especially concerned about your gasoline consumption. There are ways you can save money on gas. In this article, we show you 7 ways you can do that.

Tip #1: Carpool

You can carpool with your co-workers or neighbors and save money on gas. Carpooling works best if you live close to each other or it’s convenient for you and the others to pick  up and drop off each other when it’s your turn to drive. For instance, you’ll save money on gas if you and a few of your co-workers carpool and go to work and back home in one car. You can alternate the cars you take to work. If you drive your children to school or go to school events, you can offer to carpool with other parents.

Tip #2: Commute

If carpooling isn’t an option, try taking public transportation so you don’t have to drive your car and spend money making sure the gas tank is full. You may find that commuting to and from work is quite pleasant and relaxing. You can read a book or catch up on your small to-do tasks while you’re commuting. You can even sleep during the commute, but only if it’s safe to do so.

Tip #3: Canvass Gas Stations

How many gas stations are there near where you live? You may be surprised that a little canvassing of gas prices in the gas stations near you would save you some money on gas. Take the time to scout the cheaper gas stations and filling your tank there. Remember that the few cents difference can add up over time if you drive every day and tend to re-fill your tank in the same gas station.

Tip #4: Walk or Ride a Bike

When you’re doing errands, consider if you could do it by riding a bike or walking. For instance, if you’re only a mile or so from a grocery store, why not take your bike instead of the car? Or why not walk there for that matter? Not only will it save you gas, but it’s a great way to keep in shape and get healthy to.

Tip #5: Maintain Your Car

When you maintain your car properly, it will burn fuel more efficiently. Make sure that you take your car for regular car maintenance check ups. Get the oil changed as scheduled and make sure the tires and other parts are in good working condition.

Tip #6: Plan Your Errands

If you have several errands to do in a day, map out your route so you don’t waste time and gas going back and forth. And if it isn’t too hot outside, turn off the AC and drive with the windows down. The car’s AC can actually increase fuel consumption.

Tip #7: Check the Tire Pressure

The pressure on the tires can affect your car’s fuel consumption. Make it a habit to check your car’s tire pressure then. Also, remember that accelerating too quickly does burn more gas.

Look at your household bills. How much are you paying for your utilities? Chances are that a big portion of your monthly income is spent on paying your household bills, with a good chunk of it going to utilities. There are a few things you can do to lower your utility bills so you can save more money.

1. Which of your appliances are electricity hogs? These are the ones that use up too much power and jack up the cost of your electric bill. Consider registering for a home management load program. This kind of program typically will save you about $100 on your electricity bill, as well as teach you how to practice home energy conservation.

2. Check to make sure that your appliances are energy efficient. Keep in mind that appliances that make up your home’s heating system tend to consume a lot of power, so do your refrigerator and water heating system. It pays to spend some money ensuring to that these appliances are working properly and efficiency. You’ll save more money when your appliances are well maintained and running efficiently.

3. Make sure to tune up your furnace at least two times a year. Insulate your water heater and clean the refrigerator coils two times a year. Set the heater’s timer so that electricity flows regularly each time you’re using the heater. Save money by calling your utility service and inquiring if they are offering any low rate during a specific time each day.

4. You can lower your heating bills and save more money. For instance, you can lower your heating bill by 3% if you set your thermostat 3 degrees lower. Turn your thermostat off when no one is in the house or when it is cool enough outside. You can further save money by turning down your thermostat at night.

5. Do you often make long distance phone calls? If so, consider switching to a phone company that offers unlimited long distance calls for a fixed monthly fee. This will help you save more money. If switching isn’t possible, you can limit your long distance calls. Place your calls on weekends or off peak hours to avail of lower rates. You can also explore other ways of communicating with friends and family and reserving the long distance calls for the really urgent calls. For instance, you can communicate as often and as much as you want over the Internet through e-mail, chat and instant messaging.

6. You can lower your monthly water bill by making sure there are no pipes leaking. Check for leakages in the pipes regularly and fix the ones you find immediately. Consider installing a water saving shower head so that you can control how much water you use when the shower is in use. If you really want to further save water, stock water in a large container and use that for bathing instead of using the shower.

Many people overspend each month because they don’t take the time to budget. Budgeting may seem like hard work, but people who have taken the time to actually sit down and plan their their budget often discover the task becomes easier and easier over time. A budget actually helps us in spending wisely and saving money.

If you’ve always been intimidated by the idea of budgeting or you don’t know how or where to start, there are many budgeting tools now available all designed to make the budgeting process as easy and as painless for you as possible. There money management software packages you install in a computer and lets you enter your cash flow, categorize your expenses and even analyze your spending behavior. You can also enter the payments you have make every month and alert you when bills are due. The more advanced money management software packages come with a feature that helps you with your tax filing to help ensure that you don’t miss out on any deductibles or dues come April.
Perhaps one of the simples budgeting tools available are coupons. If you’re on a tight budget, you can save on many grocery items by using coupons when you’re shopping. Check magazines and local newspapers for coupons and good deals on discount products. Check with your local grocer too because chances are they often have flyers with their latest coupons.
If using a money management software still intimidates you, you can use a traditional list for creating your budget. You can keep track of your monthly and weekly budget and expenses in a ledger or a plain notebook. You can even make your lists on your phone or PDA (personal digital assistant) and set alerts. lists are particularly useful when it’s time for you to do your weekly trip to the grocery. You can save money by planning ahead your weekly menu and then buying the food items you need in one trip (don’t forget to use those coupons!).

You can also keep a running list of supplies you need at home and may need to get on your next trip to the grocery. This way, you know exactly which items you’re running low on and which ones you need to get on your next trip. This list not only can help you save money, but it can help you use your time better. When you’re at the grocery store, you can quickly go to the aisles where your items are and help you avoid making unnecessary purchases.
You can also keep keep track of your expenses and help you manage your money better by following a filing system at home. Your filing need not be too elaborate, though. You can start your filing system by taking a few file folders, labeling them and filing your bills, receipts and other important financial documents in the appropriate folders. This filing system may be simple, but it is incredibly powerful because you can keep track of your financial documents and you can see how much you have been spending, when your credit card and household bills are due, and provide you with a good picture of your spending habit and where you may need to cut back some.

There is no budgeting or money management tool that suits everyone. It’s up to you to find which budgeting tool suits you best. Try a few of them and see how it works out for you. The objective is for you to find the right budgeting tool that suits your needs and your preferences.

Patience goes far beyond being just a character virtue. It can also be a means of living a comfortable life. As you continue reading you will find out how exercising patience can bring you financial rewards.

Examine how even simple things in your life such as walking when you don’t have to drive can save you money on gas. Not only that, it can save you money on future physical and mental health bills. If you live in the city it may also save you money on tolls and parking fees.

Consider being a conscientious, patient shopper. Are you sure you’re getting the best deal on your new washing machine? Take the time to compare prices, especially on higher priced items. A few dollars saved on an item may not seem like much, but what if you saved a few dollars on every item you’ve bought in the last year? When you hire a plumber, have you asked other plumbers for their rates? Does your plumber price match? Did you compare prices when you bought a new car stereo? Thinking about questions like these will help you become a patient comparison shopper and could save you a lot of money over time.

Coupons can still be a good deal. Don’t buy something just because you have a couple of coupons. Save any coupons you think you might use later in an organized index card box. Then when you need to go to the store pull out coupons for the items on your list. It is particularly helpful if you keep manufacturer coupons with no expirations. If your local grocery store has a double coupon day, make it a point to do your shopping on that day.

Take the time to follow a budget. Part of following a budget should include tracking expenses. Keep your receipts too. As you learn how much money goes to each type of item you can better budget for that item category. You’ll also find that you’ll see places where you can cut unnecessary costs. Patiently keeping record of how you spend money will help you cut back on how much money you spend. You’ll then be able to route the money towards the items that are most important to you.

Take time to consider whether you really want expensive items. Never decide to buy one while you’re at the store. If you didn’t need it before you got to the store, you probably don’t need it now.

Don’t forget to include long-term savings in your budget. Set aside money every pay period and your patience will pay off some day.

Money is an important aspect of family life. Without money, a family won’t be able to survive. A family has a lot of expenses — rent, mortgage, utilities, health insurance, food, clothing and education are just some of the expenses that families incur. When it comes to a family budget, the breadwinner often has the last say in financial decisions. Needless to say, the family budget then becomes a source of conflicts. This is why members of the family must agree and work together when it concerns the family budget. Here are four steps to follow:

Step #1: Setting Your Family’s Priority

As a family, identify your priorities and focus on them. For instance, health or children’s future may be a priority. If so, then the budget should take this priority in mind. This would involve finding a comprehensive health insurance or starting a college fund or trust fund. Ideally, there should only be one priority, but it is more reasonable to have two or three priorities. Come up with your priorities as a family. Write those priorities down and make it a point to remind family members of these priorities often.

Step #2: Listing Goals

When you have identified the priorities you have as a family, the next thing you need to do,again as a family, is to set our goals. Your goals must be specific and in line with your family’s priorities. Goals must be achievable too. For instance, if your family has identified children’s education as a priority, a goal for this priority would be something like, “Set aside at least 10% of family income for college fund.” Have one or two goals for each priority.

Step #3: Taking Action
Once you have identified your family priorities and set your goals, the next step is to actually work towards achieving the goals. This means you and your family must live with those goals in mind, doing things that will contribute towards the achievement of those goals. It is important that you track your progress as a family. Use a tool that will help you keep track of your income and expenses. The simplest way to track your income and expenses is to write them down in a notebook. Some people choose to use a software or hire an accountant. Regardless of the tool your family uses, it’s a good idea to have this in place so that you can monitor your family’s performance and how you are progressing.

Step #4: Evaluating
In addition to tracking your income and expenses, make sure to evaluate or assess your financial standing and your overall progress on a regular basis (e.g., quarterly or every 6 months). Assess your progress against the goals your family has set. See if you are on track, and where you need to make adjustments. Check off the list any goals that your family has achieved. Keep in mind, too, that families are dynamic. Some members of your family may decide to go away or start a new life. When this happens, you need to re-evaluate your priorities and modify any goals.

If you’re not saving money for the future, the time to start saving is now. You owe it to those you care about to make sure that you will not be a burden on them by saving up for the unforeseen future now.

Also, you can save money by investing it. If you can’t afford a house, start saving for one. If you can’t afford to send your child to college, save money for your child’s future. When the time comes for these things they are an excellent way to spend your money as an investment.

To get started, you need to incorporate money saving into your lifestyle. If you have a family, make saving money a group effort shared by everyone.

Even small things like riding a bike or taking a walk instead of driving the car can save a lot of money on car maintenance and gasoline costs. In some cases it may also cut down on health costs. If you must drive to the store or work, consider making it a social activity too by doing it together with friends or coworkers. These small things can all enrich your life and help protect the environment.

While we’re talking about gasoline, when was the last time you tuned up your car? Keeping your car well-tuned can save you some gas, as well as oil. Keeping enough air in your tires may help with your gas mileage too. Of course, the best thing you can do for your gas mileage and the environment is to regularly drive a car that gets great gas mileage. If you live in a mild climate, go without air conditioning to save gas. Enjoy the wind in your face.
Gasoline isn’t the only energy cost. Making sure your doors and windows close properly can help save more money than you may realize. Also, don’t forget the little things like turning off lights when you won’t be in a room in the next fifteen minutes. Don’t waste your time and electricity watching television shows you don’t like. Personal computers are no longer low power consumers so make sure you have all of the power saving options turned on when it is not in use. Why waste money and energy resources when you are receiving no benefit from their use?

Don’t neglect your plumbing. Your water bill may be small, but your water heating bill won’t be small if the hot pipes or hot faucets leak. You may be surprised how much money you save fixing that leaky faucet, not to mention how you benefit those around you by not wasting clean water and energy resources.