Posts Tagged ‘saving money’

Looks Like We’ll Have To Save Money In 2012 As Well…

Comment

December 28th, 2011

Stay away from grocery brands

You don’t have to give up on all your favorite grocery brands and go totally generic. Learn how to use coupons so you can buy your favorite name-brand items for pennies on the dollar by combining coupons with sales. Base your purchases on price rather than brand and you will be saving.

Buy marked-down groceries

Marked-down groceries are typically soon-to-be-expiring items (dairy products, meat, and produce). Not all stores offer markdowns, and store policies can vary widely. The best way to find out is to ask the produce manager what they do with produce, dairy, or meat products that are nearing their sell-by dates.

Shop at the Dollar Store

Dollar stores often have great prices on spices as well as plastic bags. You can buy Nature’s Own sandwich bread and hamburger buns for just $1 each at the Dollar Store, more than 50 percent off what you would pay at the grocery store. Check their prices from time to time.

Buying in bulk

Buying grains, dried beans, as well as many other basic ingredients with long storage lives in large quantities will usually save you at least 20 percent, if not more. Call up a few friends and neighbors, buy in bulk and split the costs if you don’t have enough storage space or if there’s no money in the budget. It is normally much more cost- effective to purchase meat and staple ingredients in bulk.

Use a crock pot

A crock pot is a great tool in your moneysaving campaign. You can pop ingredients for dinner in it in the morning and have a hot meal all ready by 5:00 p.m. Many of the newer crock pots even have time-delay features on them so that you can set them to turn on later in the day.

Meatless meals

Meatless doesn’t have to mean calorie-free or tasteless! When my husband and I were living on a beans-and-rice budget while he was in law school, we couldn’t afford to buy a lot of meat. We often served breakfast foods for dinner. Or we’d have soup and a roll.

Bake it in your bread machine

Why buy bread and buns when you can bake them yourself? Check out the pros and cons of owning your own bread machine. But borrow one to make sure it will work for you before you go out and invest in one.

Use smaller amounts

Train yourself to use two-thirds of the amount you usually do and you’ll save 33 percent. Use half the amount of washing soaps, detergents, condiments, etc. and you start saving instantly!

Stay away from the grocery store

Eat all your own stocks of food before you go shopping. Learn to make meals out of items you already have on hand.

Walmart and Target offer to match prices

Walmart and Target both match competitors’ prices. Just bring the competitor’s ad in to verify the price. So if you see a great deal on grapes or bread at a grocery store miles away and Walmart is just two blocks away, bring the grocery store’s ad to Walmart and get the same deals.

Tags: Buying in bulk, Coupons, Household budget, saving money
Posted in Economy, Employment, Finance, Money, Personal / Internet | No Comments »

Staying Within Budget Is Better Than Taking Loans

Comment

November 14th, 2011

Here are some cost-cutting ideas

America and the rest of the world are having a rough time financially and it doesn’t seem as though things will improve any time soon. This economic crisis affects most of us every day as we tighten our belts and keep our wallets in check. But like a dieter craving sweets, temptation is always skulking around, begging us to spend. However, there are simple things you can do when the cravings start to bite.

Wait

The best thing you can do to stay on budget is tell yourself to wait. We see something on television, online or in a store and think we just have to have it. Tell yourself, “Wait.” How many times have we given in to that urge, only to see the item gather dust or wind up in the next garage sale? Chances are it is a whim brought on by budget fatigue, and the burning desire will go away. If the feeling persists, then maybe it is something worth saving for.

Thinking ahead

Realistic frugality begins with a realistic plan. If a budget is too restrictive, it adds stress to your life. That type of gnawing pressure may lead to abandoning the budget altogether. Make your plan realistic, but not a last resort starvation diet. Thinking long term can help. Instead of seeing savings and frugality as a chore, think big picture. You and your family will be happier if you don’t have to strain to pay off last month’s splurge.

Don’t forego fun

While a budget must begin with month-to-month obligations and essentials such as mortgage, groceries, car insurance and utilities, it should also include an item for “fun”. If you enjoy sports, make sure to include some greens fees or club dues. If concerts or theater are your thing, figure in a ticket every couple of months. Another way to achieve this is to keep a “fun fund,” which is reserved only for a specific goal. Instead of giving in to every impulse, focus on the really satisfying ones and put a little away toward it out of every paycheck. Maybe there is a trip you want to take, or one luxury item that you truly want. With a little patience and persistence, it can be yours.

Cutting corners

For the day-to-day items, there are many things you can do to cut corners. Here are just a few suggestions to get the ball rolling.

Most beauty schools and community colleges offer cut-rate haircuts and beauty services, as students need opportunities to practice their craft. While that may sound risky, rest assured most places only let advanced students touch the paying customers.
Second-hand and thrift stores are a wonderful resource for items we use every day.
Flea markets, garage sales and Craigslist are good, too. Somebody once said one man’s trash is another man’s treasure. Go explore. You never know what you might find for a song.
Fuel expenses are one of the worst drains on our resources these days. Try public transportation, carpooling and consolidating trips. Remember, the less time you are behind the wheel, the less you are spending.

Tags: Household budget, Personal budget, saving money
Posted in Business, Cash Advance, Cash Advance Loans, Economy, Employment, Finance, Money, Payday Loans, Personal / Internet | No Comments »

How I Cleared My $10,000 Credit Card Debt in a Year

Comment

June 26th, 2011

Like many Americans, I had a ton of debt that seemed to pile on month after month.
Between credit cards, car payments and suchlike, my debt situation was hopeless. One Visa card had a $1,250 balance and another $5,000. I had a MasterCard with a $1,250 balance and a Discover Card with about $2,500. Enough! I decided to take steps to eliminate my debt without having to make more money. All it needs is a little sacrifice and discipline. Here’s what I did to all but eliminate my debt within one year.

What Is Necessary
I cut the coffee shops in the morning and made my own cuppa. The saving, to my amazement: about $4 per day or $28 per week, for a total of $1,456 a year. I used this to pay off the $1,250 balance on my Visa and even had a couple of bucks to spare. I could have saved that amount by brown-bagging as well.

Downgrading
We went from a two-car family to a one-car family. We sold the car that had payments and kept the one that was paid off. As our car payment was $450 per month that meant we saved an astounding $5,400 in one year. Include the money we saved on insurance at $70 per month or $840 per year, plus what we saved on gasoline at $25 per week or $1,300 per year. In total our downgrade saved us $7,540 for the year. Goodbye Visa Card No. 2 and Discover Card! It was inconvenient, sure, but it saved us tremendous amounts of money each month that we could apply to our debt. We are now back to two cars again, both paid for.

Cash Is King
My new motto is, “If I don’t have enough cash to get something I want, then I don’t need it.” This can be hard as credit cards allow you to make purchases that you otherwise couldn’t. However, they catch up with you, and bring debt.

Top of the Line
You don’t always have to have the best of the best. My cell phone is nice, but not too nice. I also ended my long-term contract with a major cell carrier and now use a prepay service. While my phone doesn’t do all the latest and greatest things, it still makes calls and texts, which is really all I use it for anyway. Besides, not having the “newest and greatest” cell phone is saving me over $80 per month or $960 per year. Nearly enough to pay off my MasterCard.

What’s important
When cutting debt you need to decide what is important. With a little sacrifice and discipline, I have been able to get rid of almost all my debt in one year’s time and sock away a few bucks. At the end of the year I paid off $9,956 of debt. Now, I use my credit cards only to secure a hotel room or a car rental, and I’ve learned the value of what is important over what is wanted. What’s more, I did this without making any additional money; actually it feels like I make more since I actually get to keep some of it now.

Since I’ve cleared my debt I’ve started a new business with a little help from a business incubator.

Tags: Cutting costs, Debts, Getting out of debt, saving money
Posted in Credit Cards, Economy, Employment, Finance, Money, Personal / Internet | No Comments »

« Older Entries