Sunday Savings Tip: May 22nd

Next week is Memorial Day, which is a busy time of year for price slashing at many stores. There are sure to be sales across the country with many tempting offers. For savvy shoppers, this can be a great opportunity to keep within your budget. But be wary of buying something just for the sake of making a purchase.

• Consider birthdays and holidays. Plan ahead for upcoming events in your life for which you might need to buy a gift, such as birthdays or even year-end holidays. Buying these presents at sale prices will make your recipients and your budget happy!
• Think twice about each purchase. Is this something you really need or are you only purchasing it because it has a sale sticker on it? On sale is still too expensive if you don't need it.
• Check out the ads before you go shopping. If you need to cut coupons, make sure you do it in advance and know what you want to buy at each store.

• Avoid putting purchases on your credit card. Some cards do offer benefits and rewards, but if you cannot pay off your card at the end of the month, the interest rates will negate the cheaper price of whatever you purchased.

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Favorite Coupons + Savings Sites

 

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Frugal Tips + Video For New Couponers!!

I am a WeUseCoupons Affiliate and love couponing. I wanted to share with you these starter tips if you are just starting to coupon or are wanting to start.

I have to say when I first started couponing, the thought was just overwhelming. But listening to tips like the video below and the advice on the WeUseCoupons Forums helped me more than you know. Don’t fret and get to pulling out your hair. Organizing a new lifestyle won’t happen over night. Start small and BUILD from there. The payouts and rewards are so worth it!!!

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It’s Tax Time…eFile for FREE with Turbo Tax!

Yup- it’s that time of year again! Time to sit down with all those important forms and documents and file– TAXES (EEK!).

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Sunday Savings Tip: Oct 17th ~ Save Early. Save Often!

Retirement: the distant fantasy of no work and all play that comes after career. But how much do you know about planning for retirement? Maybe the thought of saving for this milestone 30 or more years down the road has yet to cross your mind. "Save early. Save often." is a good practice to follow when thinking about saving for your retirement. Here's why:

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Sunday's Savings Tip: Save Money Each Month

A penny saved isn't actually a penny earned. But every penny you don't spend can be a penny you put in your piggy bank. Here are some tips on ways you can save money each and every day, week and month.

• Use your public library. Books, magazines, audio books, films, and CDs are all available for no charge at your public library. Many libraries even offer free events, classes and workshops for children and adults. It is crazy not to take advantage of all that your library can provide. Do yourself a favor and go see what your library has to offer you.
• Look for free or inexpensive entertainment. Whether you are taking advantage of free movies in your local park or 'pay what you will' evenings at a museum, lowering the cost of keeping yourself entertained will up your savings total.
• Evaluate the money you spend on food. Are you spending more or less than average for your household? If you are spending more than average, coupons and sale items are a great place to start, but there are other options as well. Is there a food or cooking co-op you could join or organize? Would ordering your groceries online allow you to spend less? Are there any farmers markets you can take advantage of? Everyone has to spend money on food, but you can get creative to find ways to lower your costs.
• Shop for bargains. No matter what you are looking to purchase, there is probably an option online to find it. Remember to check websites such as Craigslist, auction sites and even Freecycle for products you need. Thrift stores, both online and traditional brick-and-mortar, also offer a lower cost on items from clothing and accessories to furniture and books.

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Sunday Savings Tip: What is the State of Your 401(k)?

Today is National 401(k) Day. Why not celebrate by reassessing how much you are putting into your 401(k) each month?

A 401(k) is a retirement savings plan where the money going in comes directly out of your paycheck before taxes. Many employers have plans as part of the benefits package offered to employees, and some companies have programs where they also contribute or match funds going into employee 401(k) accounts.

If you have a 401(k) plan through your employer, you should be taking advantage of it and putting in as much as possible. Could you increase your current contribution by one percent? Increasing your contribution by as little as one percent (or more if you can swing it) will make a solid difference by the time you are looking at retirement. If your employer will match your contribution, make sure you are taking advantage of the opportunity as much as you are able.

Happy National 401(k) Day—now go out there and bulk up your retirement savings!

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Sunday Savings Tip: Staying Fiscally Wise When Renting An Apartment

Given the current state of the economy and the challenge of being approved for a mortgage, more and more people are choosing to rent their houses, condos and apartments instead of buying. The U.S. Census Bureau says homeownership was the lowest during the first quarter of 2010 since the first quarter of 2000.

If you are one of the millions who rent your home, here are some tips on getting the most out of your lease.

Landlord and Tenant Laws: Make sure you know, and understand, the local landlord and tenant laws. What problems and tasks are the responsibility of your landlord and what are yours? When are you due for a new coat of paint, and who pays for spraying for bugs? Remember to check and make sure the rules apply to your landlord—in some areas, those who rent out only one or two properties are exempt from some rules.

Breaking a Lease: Most people don't have plans to break a lease when they sign one, but life sometimes goes in a different direction than expected. Make sure you understand what your obligations are, both financial and otherwise, before you sign your lease, or at least before you decide to break it. When you are signing your lease, if you think there is a chance you might need to break it, talk to the landlord and see if a shorter lease is possible.

Storage: If you have done your best to whittle down your belongings and it still won't all fit in your new pad, investigate storage companies. Paying for off-site storage is usually less money than looking for a place with an extra bedroom. You don't actually need your winter clothes on-hand in the summer.

Rental Discounts: Look for apartments or complexes in your area that are offering discounts or one free month deals. In some areas, it is common practice to offer renting incentives. Just make sure you read the fine print and know when you will receive your free month, and if there are any obligations on your end.

Refer a Friend: Does your building have a "refer a friend" program? If so, make sure you know what the opportunity is. Also remember not to refer any friends unless you actually do like where you are living—awkward neighbor situations could arise otherwise.

Renters Insurance: While signing up for renters insurance will cost you money at the outset, it will save you money if you experience a fire, theft or disasters of another kind. Knowing you will be able to replace your belongings will save you stress and worry, before, after and during. More information is available about renters insurance through 360 Degrees of Financial Literacy.

 
The most important thing to keep in mind when renting is to investigate your options and know the details of your lease before you sign it.

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Sunday Savings Tip: Saving Money While Traveling

Everyone likes to take a trip once in awhile. Remember, however, that even if you are planning a getaway, there are ways you can travel on a budget and make your money stretch farther.
Here are some suggestions to get you on the right path:

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Sunday Savings Tip: The Credit Card Accountability, Responsibility and Disclosure Act of 2009: What it Means for You

Additional financial regulations and changes stemming from Wall Street reform went into effect over the weekend. Credit card companies now have a longer list of rules they must follow, and you may have a longer list of loopholes to watch out for.
Here is a summary of the new credit card rules:

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Sunday Savings Tip: New Regulations for Debit Card Overdraft Fees

 

An overdraft happens if you make a charge or purchase and don't have the money in your account to cover it. Standard practice for banks has been to charge you a flat fee each time you overdraw on your account. Some banks offer to connect your debit card to your savings account to cover the overdraft itself. However, some banks may charge a high interest rate and require quick repayment for the amount of the overdraft.

New overdraft rules from the Federal Reserve went into effect on August 15 and are designed to protect consumers. However, you must make sure you understand the new rules to know whether opting-in or opting-out is best for you.

• You must opt-in to your bank's plan before your bank can apply its standard overdraft practice and fee. If you do not opt-in, or specifically opt-out, your debit card will be denied if you attempt to make any purchases that your account cannot fully cover.

• The new rules require flexibility from your bank—you can opt-in or opt-out at any time.

• The new rules do not cover checks or automatic bill paying programs.

So, what do you need to do? Well, that depends. If you have frequently been charged overdraft fees in the past, these changes could be the perfect opportunity for you to look at your budget and reassess where and when your funds are coming into and going out of your account. Opting-out of your bank's plan will ensure that you aren't spending more than you have, and make you aware of it if you try to do so.

If you don't often get into a situation where you are charged an overdraft fee, you may choose to opt-in to your bank's plan to cover your purchases on the rare occasion you try to make a purchase you can't cover. But be sure you have thought through whether the fee is worth it. It may be advisable to put down a pending purchase and instead wait until payday, or transfer the necessary funds into your account.

Either way, make sure you understand all of the options you have, and all the fees your bank may charge. Contact your bank if you have questions about their overdraft plan and fees.
For more information and tips on how to avoid fees completely, see Protecting Yourself from Overdraft and Bounced-Check Fees and these tools for Budgeting and Saving.

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Sunday's Savings Tip: August 22nd

Student Loan Interest Rates

 

Do you have student loans that you are diligently working to pay off?

If so, changes made July 1 to student loan rates could have a positive effect on your budget.
For Stafford and PLUS loans issued on or after July 1, 1998, and before July 1, 2006, the new interest rates for the period of July 1, 2010, through June 30, 2011, are:

• Stafford Loans in repayment status—2.4 percent, down from 2.48 percent
• Stafford Loans in school, grace period or deferment status—1.87 percent, down from 1.88 percent
• PLUS Loans in repayment status—3.27 percent, down from 3.28 percent

For Stafford and PLUS Loans issued on or after July 1, 2006, the interest rates for loans disbursed on or after July 1, 2010, through June 30, 2011, are as follows:

• Subsidized Stafford Loans—a fixed 4.5 percent rate, down from 5.6 percent
• Unsubsidized Stafford Loans—a fixed 6.8 percent rate for the life of the loan
• PLUS Loan—a fixed 7.9 percent rate for the life of the loan

Remember, borrowers with variable rate federal student loans can lock in the current applicable rate on their loans by consolidating the loans (private loans can't be included in a federal consolidation loan). The interest rate on a federal consolidation loan is a fixed rate that is equal to the weighted average of the current applicable interest rates on the loans being consolidated, rounded to the nearest 1/8th of a point. Borrowers can only consolidate once.

For more information, please see Student Loan Repayment Options and www.loanconsolidation.ed.gov.

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Sunday Savings Tip: August 15th

The Dodd-Frank Wall Street and Consumer Protection Act

On July 21, President Obama signed the Dodd-Frank Wall Street and Consumer Protection Act, which is considered the most wide-ranging overhaul of the U.S. financial system since Great Depression.
Provisions of the law include:

• Credit reports and scores: Before applying for a loan, consumers will be able to request a copy of their credit report and an explanation of how the rating was determined. If turned down for a loan, the new bill grants the right to see how the decision was made.
• Home loans: The law establishes new minimum underwriting standards for home mortgages and outlaws both payments to loan brokers for steering consumers toward high-priced loans and pre-payment penalties for paying off a mortgage early. Lenders will also be required to ensure borrowers are able to repay home loans by verifying income, credit history and employment.
• FDIC: The increase in Federal Deposit Insurance Corporation (FDIC) insurance coverage from $100,000 to $250,000, which was changed almost two years ago, is now permanent (the increase was previously set to expire in 2013). This means accounts at covered financial institutions (banks, credit unions, etc.) are protected up to $250,000 per person, retroactive to January 1, 2008.
• SEC: The Securities and Exchange Commission must write regulations for broker dealers requiring them to act in the best interest of their clients. This puts stockbrokers on the same footing as independent advisors—they won't be allowed to have a stake in which stocks are bought and sold by clients.

The new law also creates, in the next 12 months, the Bureau of Consumer Financial Protection. This new government entity is designed to create additional protection for consumers of financial products, including unfair credit card rate increases and illegal mortgage lending practices. While the structure and leadership of the new Bureau has not yet been established, many provisions of the new legislation are likely to fall under their jurisdiction.
For more background information on the law and its many provisions, please see Summary of New Financial Reform Law.

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Sunday's Savings Tip: August 8th

Saving Money at the Grocery Store

Shopping for groceries is an expense everyone has to account for on their weekly or monthly budget, especially if you have taken our previous advice and cut back on eating out. But there are some ways you can save money on your groceries and still purchase everything you need.

• Store Circular: Read the circular from your grocery store, and other stores in your area, to plan what is on sale that you could use to make lunch or dinner this week. If there is a bargain to be had, remember to think about how much space you have to store it, whether it is a 12-pack of paper towels or a few pounds of apples.
• Coupons: Do you have any coupons you can use? Clipping coupons is a great habit to start—and not just from your grocery store's weekly circular, but in the mail and online. There are many sites that offer coupons. Do a little research to find sites that work for your needs and offer products you use.

• Shopping List: Make a shopping list before you go to the store, and include quantities for each item. If you need yogurt or oranges, how many do you need? Planning ahead is great, but not if your food will spoil before you use it.
• Generic and Store-Brands: When you are at the store, remember to look for generic and store-brand items. They are usually less expensive for the same or similar quality product. If you are absolutely married to a specific brand for one item you need, how about generic products for other items?

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Take advantage of Tax Free Weekend!!!

Take advantage of Tax-Free Weekend!

There are different regulations by State (applicable items as well as price limits), so make sure to check with your  local shopping center!

* Alabama – August 6 – 8
* Connecticut – August 15 – 21
* Florida – August 13 – 15
* Illinois – August 6 – 15
* Iowa – August 6 – 7
* Louisiana – August 6 – 7
* Maryland – August 8 – 14
* Mississippi – August 30 – 31
* Missouri – August 6 – 8
* New Mexico – August 6 – 8
* North Carolina – August 6 – 8
* Oklahoma – August 6 – 8
* South Carolina – August 6 – 8
* Tennessee – August 6 – 8
* Virginia – August 6 – 8

Thanks Frugal Plus for this helpful information!!

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Sunday's Savings Tip: August 1st

Buy in Advance

For the best savings, it can be important to plan and purchase items in advance. This is true for many items you may need for your home or apartment, or on travel for upcoming trips.

According to the American Home Furnishing Alliance, July can be the best month for furniture purchases as many stores have clearance sales to make room for new inventory. If you're in the market for new furniture, consider whether this July is the right time for you to take advantage of lower prices. If not, January is another time for low furniture prices as stores begin to make room for new spring inventory. Before buying, make sure you're buying because you need it, not just because you want it and it's on sale.

Are you planning any travel for the summer?

Some bus carriers offer steep discounts if you book in advance. You might be able to score a ticket for $15 or less. Bus travel has improved greatly over the past several years. Increased competition has resulted in multiple clean, WiFi enabled bus lines that generally arrive on time. Airline tickets fluctuate as to the best time to purchase them—for non-holiday domestic travel, purchasers should watch for potential price cuts at the 21-day mark.

Have other suggestions of ways to save? Please share by commenting below.

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How a Phone Call Saved me $30 on my Cable Bill and other ways to cut your Cable Costs

I will admit, cable is one area that we do not scrimp on.  My husband loves movies, and with cable and DVR he is able to watch movies when he wants and saves us money on theatre tickets.  Also, we aren't but I know some big NASCAR fans that pay a bit extra for the Speed Network.  I also enjoy the On-Demand Exercise videos which keep me entertained and fit without the expense of the gym.

That being said, when I received my bill a couple months ago and it was $30 higher then the month before, you can bet I called the cable company.  At first I was given the standard answer, your contract for the special pricing promotion is up and there is nothing we can do.  We have to make money.  Unfortunately for me, there isn't a lot of cable competition in our area so I wasn't able to say well I'll just switch.  The only other option for cable is a satellite and I really don't want one of those.

So after getting the answer of there is nothing we can do, I told the customer service rep I guess even though I really don't want a satellite I guess I am going to have to switch because it's ridiculous to get less and pay more.  Not only had the price gone up, be we had also lost 2 movie channels.  Saying I was going to switch, must be code to them to get a manager because that is who I was directed to.

Once the manager came on, I told him my concerns and magically he was able to get me not only the package I had before, but also 3 additional movie channels for a little less then what I was paying before.  So win win for me and all because I made a phone call. 

I do address miss marked prices or overcharges regularly, such as the cable bill.  However,  I don't "fight,"  I simply state my case in a calm manner and usually the result is saving money.

So if you notice your cable bill is to High, but don't necessarily want to cut your services: Call Your Cable Company.  You might be pleasantly surprised.

Additional Ways to Cut Cable Costs (will require change in your service)

Cut your cable to just basic channels and use your computer for movies and other cable shows.  Be sure to check the following sights for free TV and movies:

• Hulu.com
• Fancast.Com
• Veoh.Com
• TV Guide.Com
• Joost.com

Take it one step further and get rid of your cable all together.  Frugal, Freebies and Deals has a great article here on how they switched to an antenna and still get HDTV.  She states that it has saved her $42 a month, but depending on what you pay now it could save more.

What about you?  Do you have any great ways to save on your Cable Bill?  I would love to hear about them.

Borrowed from TCH!

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Cheap Ways to Make Your Home Cooler!

 

     The intensity of the summer heat can turn just about any home into a sweltering place of sufferance, but by using a few cheap ways to make your home cooler a homeowner can maintain comfort in the worst of circumstances. Most among us rely heavily on cranking the air conditioning to a higher setting as the outside temperature rises, when often times all that is necessary to make your home cooler is the implementation of a few sound preventative measures. Not only do cheap ways to make your home cooler save money on utility bills, but are actually changes in lifestyle that are painless and can help an already struggling environment.

    

     One of the most simple cheap ways  to make your home cooler is to ensure that your air conditioning unit is well-maintained and operating at full capacity. Whether it is a whole-house unit or a window air conditioning unit, make certain that the filters are cleaned at regular intervals throughout the year and that the unit is serviced in accordance with the manufacturers recommended maintenance program. This simple measure can save somewhere between 10% to 30% in reducing energy costs. It is also a cheap way to make your home cooler to shade the air conditioning unit when possible - the cooler the air is entering the unit the less electricity will be required to cool the air leaving the unit.

    

     Making minor adjustments to the way we go about our daily business is perhaps the best cheap way to make your home cooler, by changing the manner by which we tend to normal household chores. Instead of using the dishwasher to clean dishes and creating heat in the home, wash dishes by hand and dry them with a dish towel or let them air dry. When doing laundry make certain that each load is a full one which will result in less use of the appliances, and therefore generate less heat. Rather that cooking on the stove top and using the oven have a backyard barbecue as a cheap way to make your home cooler. Make certain that doors and windows are insulated, and draw blinds and curtains on hot, sunny days to prevent heat build up in the home.

     Finally, one of the better cheap ways to make your home cooler is to landscape your yard with an eye toward keeping the property less heat absorbent. Shade trees are a great way to keep heat from affecting the interior of a home, and natural materials such as wood and earth are much better than concrete and stone as landscaping materials to make your home cooler.

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