Tag: saving money

Saving Money All Year Round-August Hints and Tips

August 1-31
Family Fun Month.
Celebrate your family all month by planning a fun activity for your family each week: a barbecue one week, a walk through the park the next, and more. Take advantage of the family time together to teach your kids about managing money – a skill that will benefit them the rest of their life.

August 1st-Take time today to find out if your state has a sales tax holiday for back-to-school shopping. Mark your calendar with the dates and plan to do your shopping then. Set a goal to save big money on back to school-shopping this year.

7th-National Sisters’ Day. If you’re lucky enough to have a sister on this day, plan to spend some time with her. You can swap savvy saving and shopping tips to help save even more money.

12th-International Youth Day. This United Nations observance day pays homage to the world’s youth – their achievements and incredible impact on the world. Talk with your kids today and listen to their dreams for the future. Emphasize the importance of education and employment in creating their best lives possible. Discuss how your family saving for their goals needs to start now and might mean sacrifices today for a better tomorrow.

13th-National Garage Sale Day.
Believe it or not, there’s a day to celebrate the garage sale. Definitely plan to have yours this month. Use the money that you earn to make a difference to your family budget. For example, apply your takings to back-to-school shopping, save it, or invest it.

19th World Humanitarian Day.
This day observes the incredible perseverance by all the world’s humanitarian workers and to promote humanitarian causes. In particular, those who have lost their lives in the fight for humanitarian reasons are honored on this day. Consider a donation to the humanitarian effort of your choice. Think how you can make a difference in the world through your time and efforts. Also remember that wealth is relative. You may not think you have a lot, but you are far better off than many people around the world and there are some things that money can’t buy. Freedom is one of them.

24-Start shopping for a new car.
At this time of year, dealers are selling their remaining inventory of this year’s models at great savings to make room for next year’s new cars. To save some real money on your next new car, shop now for the best deals. Do your research carefully and see if now is the right time to buy.

26th-Women’s Equality Day. Celebrate the date that women were first given the right to vote in 1920 by purchasing a $50 savings bond for each of the favorite women in your life, such as your wife, sisters, and daughters. Women can treat themselves to their own $50 savings bond to celebrate this landmark day. Or, put the money into an interest bearing account and add to it, setting your own goals, hopes and dreams to improve your future.

31th. Make a call to reduce the interest rate on your credit card. It’s so important to try to save dollars however you can. Put some effort into reducing your credit card interest rates. Any reduction in the rate, no matter how small, is extra money in your pocket. The America’s Debt Diet and other websites have sample scripts you can use to help you get started saving money.

Don’t forget to check your budget and emergency fund to be sure you are on track. See the guide Emergency Fund 101 for more information. Also learn How to Use the Internet to Save Money.

Further Reading:

How to Slash Costs and Save Money on Everyday Expenses (More for Less Guides)

Smart Spending Strategies (More for Less Guides)

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Coupons Can Be Your Best Friend Part 2

Part 2.

Sort your coupons/span> Use plastic protector sheets to help sort coupons. You can combine them into a single sleeve and even divide them up by date. Labeling the sheets just like the aisles in your favorite grocery store will allow you to pull only the coupons that you need. It can also give you a quick glance at the expiration dates to make sure you are not left stranded at the checkout.

Go for the Big Deals
Checking the weekly flyers put out by your local stores can save you even more money. Many of these sales flyers can be found online or will be delivered to your home. Also check in the front of the store to see what is on sale for the week and buy only the items that match your list, unless it is a staple that you use all the time.

Websites Check around for websites which pool all of the local deals plus great coupons.

Taking the time to do a little sales research before you make the trip to the store is one of the best ways to save money.

Organizing your coupons by type and date will help you save time and money. Using them in combination with sales at the store could just help you build up your savings account significantly at end of each month.

We all need to buy items to eat and to use in the household, but why pay more if you do not have to?

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Making a List and Checking it Twice When Shopping, Part 2

Part 2.

Try to map out the stores you frequent. Unless they constantly move items around, you will be able to quickly find the cereal and the mustard without having to search around, wasting time and money. Being able to grab exactly what you need aids in cost savings because, again, you won’t be left to your own devices when walking aimlessly up and down the isles.

Budget check often Leave room on your list to write down prices. Many stores will honor prices if marked incorrectly on the shelf, or even give you that particular item for free if it rings up incorrectly. Being able to keep track of the dollars you are going to spend as you walk through the store also helps when it comes to shopping on a budget. When you see the dollars adding up, it is much more difficult to justify the impulse buy at the checkout lane.

To recap, make sure you have the list with you before you leave the house. Also, make sure that list is as complete as possible by keeping a running tab of needed items on the fridge. Sort the list by common items to make life easier and know where those items are located. Finally, keep track of your spending on the same list to help with frugal shopping.

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Making a List and Checking it Twice When Shopping, Part 1

Part 1.

 

The biggest frustration for a family on a budget is forgetting the ever-important list at home. This usually results in a bout of yelling and blaming, followed by an attempted list-recreation while moving through the store. Generally, this causes an abundance of items, half of which are not even needed, ending up in the shopping basket. Not to mention blowing the budget out of the window and still having only partial ingredients to make any resemblance of a meal.

Shopping lists are only as effective as the person who makes them. The rule for shopping lists is to make sure you look through all of your items, including the shelves where you stock the goodies, to make sure you have written every last thing down. The best thing to do for keeping a good list is to hang a piece of paper on the refrigerator to keep a running tally as you use up items. This will help ensure minimal items are missed. It is still helpful to go back through the fridge, freezer and all pantries before heading to the store.

When creating your list, there are a few tips to remember:

Organize Try and keep your list organized by where items are placed in your kitchen. For instance, have a column for frozen goods, another for refrigerated and a final one for pantry items. This will help three fold.

First, when you are shopping, many items are grouped together in this same way. This will increase your shopping speed and leave little room for impulse buys because you are just wandering up and down the isles. Second, all of the like items will be packaged together since they are in your cart together, keeping the cold items cold and the meats away from the bread and eggs. Finally, since the items are packed together, putting them away at home will be a breeze. They will already be grouped according to where they go.

 

Continued in Part 2.

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17 ways to shrink your daily expenses 3

Part 3.

12-Clip coupons.

Even some of the discount, bulk stores accept coupons, so make sure you take advantage of all the Sunday coupons and neighborhood flyers. Pay attention to stores’ double-coupon days and save twice as much.  Even better, use a coupon when items are on sale.

Try to file your coupons alphabetically in a small coupon clipper file to save time and effort. Also try not to get tempted by new items that you would not normally buy.

 

13-Buy in bulk.

If a non-perishable item is on sale, consider buying several.

But make sure you also check the unit price on some items.  Just beeause it is a larger size, does not always mean it is a savings.  You might do better with waiting til the smaller items are on sale.

 

14-Check the store circulars.

This is where stores list their weekly specials. Read carefully, though, because stores sometimes intersperse regularly-priced items with sale merchandise. Know your prices on your list, so you can see if it is a real deal, or just a lure.

 

15. Do the work yourself,”avoid store-prepared food.

Sure, it saves time to have everything cut up for you, but the time it takes you to prepare a salad or put together a side dish can definitely save you money over buying prepared items from the store. Plus, the food you prepare yourself is usually fresher and tastier anyway.

 

16. Join a food club or shop at a warehouse store.

Often the savings can more than cover the cost of the membership. If you are buying in bulk, share the large quantities out with friends and family.

 

17. Always double-check your receipt before you leave the store. Sometimes, items get miscounted, rung up twice, or charged in full even if they’re listed on sale. Or, it is easy to miss a coupon.  If there is an error, it’s easier to go to customer service and get a refund if you haven’t left the premises with your bags.

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17 ways to shrink your daily expenses 1

Part 1.

In these challenging economic times, everyone is looking for even more ways to cut back financially.  Here are some ideas to help you pinch your pennies until they scream.

 

1-Be your own barista.

Going to your favorite coffee shop is an expensive detour on your way to work, with a lot of calories as well in most cases.  So why not brew the coffee yourself? Many popular coffee shops sell their house blends in bulk at their coffee bars and in local supermarkets. Find the brand you like, get some low-fat cream or whipped cream and flavored syrups, powedered cinnamon and nutmeg, if you really can’t live without these treats, and enjoy home made hot drinks for pennies compared to the $6 cups down the street!

 

2-Use a water filter.

For just a few dollars, you can buy a reusable filtered-water pitcher, or even choose a more elaborate filtered water system. These are investments that will pay for themselves when weighed against the cost of continually buying (and lugging home!) bottled water.

Also, now that we know about the dangers of BPA in plastic bottles, you will be glad to avoid drinking out of bottles from now on.

 

3-Watch sodas.

Sodas cost money, especially when purchased at convenience stores or in vending machines. Consider switching to water, or buy your soft drinks from the grocery or discount store. You can also get a soda system to make your own carbonated drinks for pennies compared to what it would cost, and save calories too.

 

4-Limit your alcohol.

We don’t even want to think about how much local hang out places charge for a beer or wine these days, let alone hard liquor. If you enjoy a drink or two, why not take turns hosting at your friends’ houses. Shop at factory outlet stores and look for bargains in unlikely places, like drug store chains.

Better still, try to cut back on drinking,”and put the money you save in a coffee can for something else, like a vacation or staycation for a treat for you and the whole family/your friends.

Even if you don’t quit totally, cutting back on your drinking is good for your budget, and your diet!

 

5-Stop smoking cigarettes.

Don’t even go there on the loooong list of reasons why you should quit. If you haven’t, at least cut back, and look to buying them online at a discount. Never pay full price in supermarkets or convenience stores. If you are quitting, once again, put the saved cash aside in a coffee can for an emergency fund or special treat to look forward to, and see how fast it all starts adding up.

 

Continued in Part 2.

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A Budget: Your Ultimate Financial Management Tool, Part IV

(Continued from Part III.)

Now let’s look at your own personal finances in more detail.

 

SAVINGS, INVESTING, AND PAYING OFF DEBT

Savings should always come first before any spending or investing, except if you are carrying a fair amount of consumer debt or student loans. If you are, make it a point to pay if off first, as we have discussed above.

But do also make sure that there is no penalty actually involved in paying it off quickly. Seriously, they WILL do that. WHY? Because they make more money out of you paying interest, than in paying back the principal (the money owed.

Once you are in the clear on debt, then it makes sense to save.  If an APR is at 15%-29%, then the 4-5% savings you would get from the average online savings account would be meaningless.

Look at your savings options, and choose something with relatively easy access so you don’t run the risk of penalties if you have to withdraw it in an emergency (such as if you had it in a 1 year CD).

If you are thinking of investing it to get a higher return on your money, decide what you can afford to invest and thus risk.

Even a small amount saved will help you reach your short term and long term  financial goals.

 

BUDGETS: A LIVING DOCUMENT

Above all, keep in mind that your budget is a living entity, as the cost of living goes up or down, and your situation changes.  If you are living on your own, make sure you hold yourself accountable, by realizing that short-term sacrifices can lead to long term gains.

If you are in partnership, both of you will need to be happy with the final budget, and feel like it’s something you can stick to. Remember, you’re working together towards a brighter and better future, not playing the blame game.

Once you have your budget, you can look at your overall financial health, and work on the areas that need improvement. At least with your budget, you will have a workable map toward your destination, so while you may not always steer the straightest course, at least if you follow your budget, you won’t sail onto the rocks.

 

 

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