Money Saving Secrets

8/11/2019 Money Saving Secrets

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Re roduction in whole or in art without ermission is rohibited.


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ou work hard for your money, so why not work on

doing some simple things that will get you to save

your hard earned cash? Here are a few ideas:

1. Shop around

Dont accept the first price youre presented with. Since

prices are so easily accessible on the Internet, it pays toshop around. Anytime youre researching the cost of a

service or product, check out at least five businesses that

meet your needs. Then, make your decision based on

your research.

2. Add some safeguards

Many insurance companies charge less for home

insurance if you have a burglar alarm and/or a deadbolt

installed in your home. Similarly, you may be able to get

a discounted rate on your car insurance if you have a car

alarm. It can pay to be safe, for your security and for your

wallet.


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3. Buy only what you set out for

Avoid going over budget on your shopping trips by

planning your purchases according to your budget. Make

a list and only buy the items on your list.

4. Stock up

Stocking up may seem like a strange tip for saving

money, but if you stock up on the items you use on a

daily basis, such as toilet paper, you could save money.

Many stores offer deep discounted prices when you buy

a large quantity of a particular item.

5.

Shop at the end of the season


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If you wait until the end of winter to buy winter clothes,

youll be investing in next winters wardrobe at

considerable savings.

6. Make use of free resources

Rather than purchasing at the bookstore or the movie

store, make use of your local library from time to time.Since most people only read a book or watch a movie

once, it really pays to borrow.

7. Pay off your credit cards

Paying interest on credit cards is a major waste of

money. Work on paying off each credit card, one at a

time, by paying more than the minimum. As you pay

each card off, cut it up. Work yourself down to one credit

card at the most, and try your best to pay off your card at

the end of the month to avoid having to pay interest in

the future.


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8. Turn down your heat

Rather than running your heater at a very warm

temperature each fall and winter, set it at a constant 68

degrees, or lower. If youre cold, wear a sweater. You

would be surprised at how much extra money youre

spending for each additional degree of heat you set.

9. Book early

As soon as you decide youre going to take a trip, begin

doing some research. Very often if you book early

enough, you can get excellent rates on airline flights,

hotels and car rentals. You may even be able to get

discounted prices on attractions at your destination if you

buy ahead and/or buy online. In addition, if your airline

trip includes a Saturday night stay, youre bound to get a

much lower rate.


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10. Cut out the extras

If youre spending $10 each week on cigarettes, kicking

the habit can save you $520 each year. Cut out the same

$2 you may be spending on daily cappuccinos from your

local coffee shop, and youll save another $520 per year.

11. Cancel subscriptions

If you have subscriptions to magazines that you read,

great! But if youre constantly getting magazines that you

never read, cancel those subscriptions. Put the money

you save into your savings account or Christmas Club.

12. Pick names

If you have a large family and you spend an enormous

amount of money on gifts for each person, try to get your

family to pick names instead. This way, everyone gets a

gift, but each person only has to buy a gift for one

person.


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13. Eat home more

Eating out at restaurants is fun and even recommended

for special occasions, but doing so too often can

definitely break the bank. Eat home more. Youll be able

to cook healthier options if you choose, and youll spend

less.

14. Think before purchasing an

extended warranty

Most of the time, you wont be reaping the benefits of all

the money you spend on extended warranties. Considerif its worthwhile to spend the extra money for those just

in case scenarios.

15. Buy gift cards

If you love shopping at a particular store, but you always

find youre spending way more than you originally

intended, buy yourself a gift card at that store each


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month for a specified amount. Use that gift card

whenever you wish to make a purchase. Once that card

is used up, youre done with your purchases at that store

for the month.

16.

Contribute to your savings account

Get into the habit of putting money into your savingsaccount each week, without fail. Even if its only a small

amount, it will build up over time.

17. Use up what you have

Before you go shopping, use up leftovers in your fridge.

See what you can create from food items in your pantry.

Organize your cabinets, so youre not buying doubles of

items like mouthwash, shampoo and mayonnaise.

18. Think twice


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Do you really have to buy an entire container of

buttermilk, when you only need a tablespoon for the

recipe youre preparing? Borrow what you need from a

neighbor, or search on the Internet for an appropriate

substitution.

19. Grow your own

If you have a green thumb, you may want to try your

hand at growing some vegetables and fruits in your

garden. Dont have a garden? No problem. You can start

a few container gardens instead. You can save lots of

money on tomatoes, peppers, herbs and other home

grown treats.

20. Be savings savvy at the

supermarket

Find out if your supermarket has double coupon days,

senior savings days, discount saver cards and other such


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programs that can save you money. If they do, take

advantage of these programs. If they do not, consider

looking for another supermarket that does offer these

special incentives.

21.

Deduct automatically

Make saving money a breeze by automatically having aset amount deducted from your paycheck, into your

savings account. No work on your part and those savings

will add up.

22.

Turn off the water

Stop money from going down the drainliterallyby

turning off your water while youre brushing your teeth

and/or shaving. Only wash clothes when you have a full

load.

23. Limit your trips to the ATM


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Technology has made it so easy for us to retrieve our

money any time we need it. But people tend to take more

than they need when they make frequent stops at the

ATM machine. Make one weekly stop and take out what

you need to get you through the entire week. When

youve spent what youve already withdrawn, dont be

tempted to take out more.

24. Keep your car maintenance up

Neglect your regularly scheduled car maintenance check

ups and you run the risk of breakdowns and very

expensive repair bills. Get your car serviced when the

service need is due.

25. Buy generic

For some grocery items and medical prescriptions, it may

be well worth it to check into the generic brands versus

the name brands.


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26. Turn your stuff into cash

Rather than discarding things you no longer have a use

for, such as books youve read, appliances you never

use and toys your kids no longer play with, consider

selling them at a rummage sale or offering them up for

auction at eBay.

27. Pack a picnic

While its nice to eat at a restaurant once in awhile, it will

save you a ton of money to pack your lunch from home

each day, or to pack a picnic next time you go on a familyroad trip.

28. Swap babysitting

Rather than spending money hiring a babysitter, do a

swap. You watch your neighbors kids for the evening,

and then next week they watch your kids for the evening.


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Everyone gets to go out and have a good time, without

spending a dime for someone to watch the children.

29. Hold potlucks

Love to entertain large groups, but cant afford to do so?

Have all of your attendees bring a dish to pass. You can

still have your party, but you wont be the sole supplier ofthe food.

30.

Use coupons

For items you use all the time, its worth your while to cut

manufacturers coupons from the newspaper and use

them when you go shopping. In addition, if you visit

manufacturers web sites, youre likely to find printable

coupons you can use.

31. Plant some trees


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Plant some shade trees on the south and west sides of

your house. This will help you cut down on air

conditioning bills, especially if you live in a very hot

climate.

32.

Buy an artificial tree

The pine aroma of a real tree is wonderful, Ill admit, butthe cost of buying a holiday tree each year can be

costlyespecially when youll be ditching it in a few

weeks. Buy a good quality artificial tree, and your friends

wont even know its fake. Youll spend the money once,

and have your tree for 10 years or more!

33. Stretch your meals

Make your meat, poultry and seafood dishes last at least

one more meal by adding rice, beans, pasta and/or

vegetables to these main courses.

34. Rent movies


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Rather than going to the movies, occasionally opt for

renting instead. A family of four will spend upwards of

$30 just to get into a movie theater, never mind the

money that inevitably gets spent on popcorn and soft

drinks. That is opposed to the $4 it will cost to rent a

movie and watch it at home. If youre a real movie buff,

online companies such as Netflix.com allow you to rent

unlimited movies for one low fee each month with no late

fees.

35. Get them to chip in

When buying a gift for someone, rather than paying the

entire bill yourself, see if you can get someone to chip in

with you.

36. Buy a digital camera

Why waste money getting photos developed, when

theres a good chance youll only be happy with 50% or


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less of them? Get yourself a digital camera that allows

you to immediately delete those bad shots.

37. Do it yourself

If youre a very handy person, you may be able to do

typical household repairs and remodeling yourself, rather

than hiring out to do it.

38. Or hire an expert

On the other hand, if you really dont know how to handle

a repair or remodeling job and the outcome of similar

jobs youve handled in the past have been less than

good, it can often pay to hire a professional in the long

run. Know your limits.

39.

Cut out the junk food

It will help your wallet and your health if you avoid buying

chips, pretzels, cookies, cake, candy and other such junk


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food. If you absolutely cant go without your daily junk

food fix, buy one bag of something and dont buy any

more until that bag is empty.

40. Go out for free

Everyone needs to get out of the house and enjoy

themselves. However, these outings dont always have tocost money. Rather than going to expensive amusement

parks, shopping extravaganzas and theaters all the time,

opt for going to a park for a cookout, bike ride or a

Frisbee date.

41. Buy e-books

Rather than spending money on printed products youre

only going to read once, if the book you wanted is

available for digital download go that route. Its almost

always less expensive because there are no printing or

binding costs involved.


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42. Get the house paid off

By paying more on your mortgage payment each month

than you have to you can end up saving thousands of

dollars on interest and paying that debt off a whole lotquicker.

43. Carpool

If you can carpool to work with several people, youll only

have to drive your car to work once or twice a week. This

will save on both gas, and wear and tear on your

automobile. Another carpooling opportunity is to get

together with other parents who have kids the same age

as your kids and who attend the same school. Each

parent takes turns driving the kids back and forth to

school.


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44. Eat prior to grocery shopping

Never go food shopping on an empty stomach. Most

people tend to buy more when theyre hungry.

45.

Pay your bills on time

Late payments can result in exorbitant finance charges.

Always pay your bills well before the due date.

46. Keep those tires inflated

Your car will use up less gas if all the tires are inflated

properly. Check the air pressure once each month, and

always prior to making a long trip. In addition, make sure

your tires are rotated regularly.

47. Keep the fridge door shut


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According to the Knoxville Utilities Board, for every 30

seconds the refrigerator door is opened, that is 30

minutes it will require to recover its initial temperature.

48. Use a programmable thermostat

These bring your homes temperature up and back down

automatically based on your settings and the scheduleyou select. For instance, in the winter we program our

thermostat to automatically heat our home to 70 degrees

during the day and then automatically down to 66

degrees in the evening when we are asleep and under

warm blankets. This saves money because its easy to

forget to turn the heat down at night.

49. Research your phone services

Learn how to read your regular phone bill, your cell

phone bill and understand all the charges that go with

both, so youre not paying for services you rarely or

never use. Inquire to determine whether some of the


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newer flat-rate plans, or other available plans, might help

you save some money each month.

50. Avoid convenience stores

Sure, theyre more convenient, but you are often paying

for this convenience. Shopping at larger supermarkets

and bargain stores will almost always save you money,as long as youre only buying what you truly need.

51. Keep good records

One of the best ways to save money is to be very aware

of exactly how much money you have available and what

youve spent your money on. You can do this with your

computer, or with pen and paper, but whatever method

you choose, keep track of your money on a daily basis.


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Money Saving Secrets