Tag Archives: Personal-Finance

20 Lazy Ways To Save Money

by Katie Adams

While the media can’t decide if the recession is nearing its end or not, we do know that there hasn’t been a tremendous surge in wages, job creation or the stock market. Consequently, most of us are staying pretty conservative on our spending. Here are a few relatively simple ways to keep an eye on your pennies while you’re waiting for that brighter economic future to arrive.

  1. Schedule automatic payments. Have (at least) your fixed monthly bills paid automatically to avoid missing a payment and having to fork over extra money for late fees and/or interest. You can set up auto pay features through your bank’s online bill paying service or by arranging it directly with the company or service provider. (Automation can be a painless and free way to remove the stress of bill scheduling from your life – if you do it right. Learn more by reading Automating Your Bill Payments.)
  2. Eat your groceries. Did you know that Americans regularly throw away nearly 15% of the food they buy at the grocery store each year? That can add up to hundreds or, depending on your supermarket budget, thousands of dollars each year. Save money by actually eating what you buy. Not sure how? Bypass the bookstore and borrow a cookbook from the library!
  3. Bundle services. If you’re paying different vendors for similar services you may be overpaying. Call your communications providers to see what price you’ll be quoted if you switch and bundle your internet, phone and cable TV services.
  4. Pay off credit card. If you’re not paying off your credit card balance each month you’re paying interest and, for most Americans, it’s a pretty steep rate. Pay it off and you could save a tidy sum by eliminating your interest charges. (Managing your debt could mean the difference between spending $45,000 or saving $184,000. Read Expert Tips For Cutting Credit Card Debt.)
  5. Mark your calendar. Whenever you rent something – library books, videos, etc. – mark it on your calendar and save money by avoiding those quickly mounting late fees. Many stores and libraries also now offer email reminders to help the constantly harried so sign up for the extra help!
  6. File your taxes on time. Or if you need to file an extension at least pay what you owe on the due date. You’ll avoid annoying notices from the IRS and, more importantly, save on penalties, fees and interest. (These schemes can lead to fines – and even jail time – for both the scammer and his victims. Check out Avoiding Tax Scams.)
  7. Roll it over. If you’re switching jobs and you can’t leave your 401(k) invested with your current company, roll your 401(k) into either your new employer’s 401(k) or an IRA within the 60-day window instead of withdrawing the money. By doing so you’ll keep the money invested – and earning interest – and avoid those nasty taxes as well as the additional 10% penalty. (To learn more, read Know The Rules For Roth 401(k) Rollovers.)
  8. Switch credit cards. If you’re carrying a balance on a high interest rate credit card check out other card issuers to see if you could transfer your balance to one with a lower interest rate and fewer fees. Use sites like Creditcard.com or Bankrate.com to compare card rates, and pay careful attention to how long those terms last so you don’t wind up paying a higher rate and erasing any potential savings.
  9. Use your privileges. Are you an AAA member? Do you belong to the AARP? What about your local credit union? Check organizations you have memberships with to see if they offer buying privileges or discounts.
  10. Rent instead of buy. You might be excited to expand your driveway but don’t let your enthusiasm overtake good sense. Hold off on buying that jackhammer and think before you spend on big-ticket items or items that you’ll use once or infrequently (like movies and books).
  11. Continue reading

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Frugal Living is the Hip Lifestyle Today

October 19, 2009 by Heather Hoang
cabinExt

Everyone knows saving money is the prudent thing to do but not many actually understand why they should do it, what the benefits are because they have never sat down to think about it. Here’s why you need to keep some cash with you.

When you lose your job or want to relax in the Caribbeans, it’s quite difficult if you max out all your credit cards every single month. What are you going to do when you retire? Isn’t this reason enough to save?
You never know when you will need a bunch of cash for emergencies. Maybe it’s for a car accident, or maybe it’s for medical, but you will need to pay for something sooner or later.

Money means more choices. If you want to start a business, you can. If you want to move to another city, you also can but it’s not possible without a chunk of dough saved up.

Sometimes, changing careers is the best long term move but what if you had no savings and moving means having less salary at the beginning? Can you really make the leap if you have been living paycheck to paycheck?
Shopping is actually very time consuming. If you start saving money, you will spend less time at the mall, which means more time to do other things that are productive.

You will truly appreciate a simpler life once you decide to practice frugality. In fact, you will probably be happier once you start saving money and relying less on buying.

Do you want to retire early? Do you think it’s possible without saving money? With discipline and a plan, anyone can retire early and travel around the world while everyone else you know is still slaving away at the 9-5.
The power of knowing that you can buy anything with the money you saved is much greater than actually buying the product. It will give you added confidence, and you will find that other parts of your life will improve as well.

The rich always get richer and I know you wished you could be in that crowd. If you start saving, you will have a chance to join the party too.

Tires are expensive but you can get some discounts by using these Tire Rack coupons that’s available over there. Really, great savings I kid you not.

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