Let’s face it, if you’re being honest, you really want more money. However, you don’t want it simply for the idea of having more actual dollars in your bank account, but to live a better more fulfilling life. Having access to money certainly allows this happen, but when you’re in the process of getting things going, it may feel like this “fulfilling life” is out of reach. The good news? No matter what your income situation is, you don’t need to skimp out on what life has to offer. If you’re looking for some fast and easy ways to start living the good life, read on…
Dine like royalty
Enroll in a cooking class or download some recipes online and improve the quality and presentation of the food you eat.
Vacation for free
Offer to housesit or house swap with a friend for a free stay somewhere different. This works really well when you have friends who live in different states.
Learn something new
Nothing makes you feel alive and like you’re on the right track quite like learning something new. Take advantage of all the opportunities to get a free online education.
Trade services
When times are tight, a lot of service-oriented businesses have to look at more creative ways to get their needs met. If you have a talent that a local service provider can benefit from, consider proposing a trade of services.
Enter local contests
You may not win, but chances are if you enter enough times, you’ll win something down the road. It may not seem like much, but a free dinner or a massage could come at just right time.
Get involved in your community
Laughter and fun are what’s really at the heart of living the good life. Local community organizations are a great way to find new opportunities for this. Consider getting involved in a local church or other organization for free events and socialization.
Look for deals
You may want to try that new fabulous restaurant everyone is talking about, but the meal may currently be out of your price range. Instead, look for coupons or special “deal” nights to help control costs. You may even want to go for lunch instead. Many local businesses offer special discounts to get more business during their non-peak hours. This can translate to big savings for you. You get the same experience at a fraction of the cost.
Share your money saving tips for others to benefit from below!
Tag: money saving tips
Build Credit: The Truth About Living Debt Free
For a lot of people, living with credit card debt is simply a way of life. We have all heard of the credit crunch where banks lent more to people than they could afford to pay back. When people fell behind on their repayments, the banks were in trouble and drastically cut back on the amount of money they were lending. This then led to a collapse in the housing market as a glut of foreclosures suddenly came up for sale. A lot of people, during this depression, decided that credit was actually a bad thing and they started to live a debt free lifestyle. While this is a great idea in principle, it is not a good idea to close your credit card accounts and attempt to live life on a cash only basis.
The problem is that your credit score affects many areas of your life. For example, car insurance companies now use credit scoring as a way to determine how responsible you are behind the wheel of a car. More and more companies are now using credit scoring to decide how responsible you will be as an employee. Also, if you ever need cash in an emergency, it is essential to have a good credit score to ensure you get the money you need quickly and at the best rate.
What most people do not understand is that not having credit is just as bad as having bad credit. We no longer live in a society where you can be good friends with your bank manager and he, knowing who you are and how you live, can decide whether to lend you the money you need. Most bank managers know little more than sales department managers.
At US Bank, for example, the local branch no longer has control over whether a check that overdrafts your account will be paid or bounced. If you call the branch and ask them to pay it, they will tell you that they have no control over it. They will tell you, however, that you should apply for overdraft protection so that it does not happen again, and they will happily help you fill out an application. Of course, whether or not they grant you overdraft protection depends on your credit score.
The problem with not having credit is that the credit bureaus will no longer be able to assess your credit worthiness. Rather than assume you are a good person to lend to and risk being wrong, they will err on the side of caution and assign you a poor credit score. This could lead to higher rates on your car insurance, mortgage or even stop you from getting a job or promotion.
Unfortunately, it is not a good idea to simply put the credit cards into a drawer and never use them either. A lot of companies will declare unused cards as inactive and therefore they will not count towards building your credit score. However, there is a solution that will not cost you extra money in interest and will still build your credit score.
The solution is to have between three and five credit cards and set them up to automatically pay one monthly bill each. For example, your cable bill could be paid out of one card, your car insurance could be paid out of another and your gym membership could be paid out of a third card. In order to avoid interest charges, you could then set up an automatic payment to these cards from your bank.
In essence, using this method, your money leaves your bank and arrives at the place it needs to get to; it just passes through your credit card accounts on the way. This allows you to essentially live debt free, but give you the benefits of a healthy credit score so you have access to the cash you need in case of an emergency.
The Best Places to Buy Used
Having extra money to put towards bills or savings is always a great feeling. It’s even better when you’re able to do it without changing much in the way of your purchasing routines. This is where buying used comes in. Let’s face it; an item with a slight amount of wear and tear at significant price reductions can often be worth losing that “new” feeling. Not only will you save some extra cash, but you’ll also be starting new environment-friendly practices.
So, what types of things are best purchased second-hand? Honestly, you can find just about anything available used with a little digging. Some of the more common items include:
Clothing
Jewelry & Accessories
Baby Items
Children’s Toys & Furniture
Books
Furniture
Exercise Equipment
Jewelry & Accessories
Baby Items
Children’s Toys & Furniture
Books
Furniture
Exercise Equipment
Games
Refurbished Computers & Parts
Music
Tools
Automobiles
Homeware Items
Appliances
Refurbished Computers & Parts
Music
Tools
Automobiles
Homeware Items
Appliances
The biggest issue isn’t typically what to buy, but rather where to buy it from and how to tell if it’s a good deal. This is where a little research comes into play. Here are a few tips to keep in mind:If it’s a major purchase, such as furniture, scan through local ads or furniture store websites to see what the going value of similar items you desire to purchase are before buying something used.For smaller items, set a budget of what you want to spend. If you know you want some new kitchen appliances, determine ahead of time roughly how much you want to spend on each item. Try to find things under budget to allow some wiggle room in case something is higher than you expected.
Today, there are a myriad of options for buying used products from online auction sites to second-hand stores. Here we take a look at your best options for buying used online:
ONLINE
eBay
eBay is an excellent option to check and compare the going rates of certain items. Whatever you are looking for, you’re pretty much guaranteed to find it here. It’s always a good idea to watch for shipping charges and to check the prices of similar items to make sure you’re getting the best deal. The best benefit of eBay, however, is getting into the habit of selling your unwanted items first and using that money to make your new purchases. It’s an endless cycle of savings!
Craigslist
If you’re looking for something local, Craigslist should be the first place you look. There are a numerous amount of computer and phone apps to help keeping up to date with Craigslist easier. Before using this service, there are a few tips you should consider:
Always make sure to see the product before agreeing to purchase it.
If it’s an electronic product take all steps necessary to make sure it works.
BUYING LOCAL
Thrift Stores
If you’re willing to browse through a mass of items, thrift stores can offer some excellent finds. When it comes to quality, always make sure to do a thorough inspection of what you plan to purchase. Check for holes, tears, missing buttons and stains on clothing. For other items, check for cracks or other signs of hard use.
Second Hand Stores
The amount of second hand stores has increased as people are looking for more economically viable options to purchase the things they need. You can find used stores dedicated to a variety of items such as clothing, baby items, games, books, and sports equipment. The quality of the items you purchase is typically higher than a thrift store as the store goes over all incoming items before accepting them. It is still a good idea to be able to check the working functionality of electronic or bigger purchases. Bonus Tip: Some stores have some wiggle room when it comes to prices. If something is just a little bit out of your budget, try asking for a discount.
Flea Markets, Swap Meets & Garage Sales
Want a fun way to spend an afternoon and get some great deals? Try a local flea market, swap meet or garage sale. You never know what you’ll find at these places, and it’s important to know what you want or to have a set budget before going. Impulse purchases are high at these types of venues and your budget restrictions will help you avoid making unnecessary purchases.
OTHER OPTIONS
Trade With Friends
Sometimes you don’t need to actually buy anything to get the benefit of finding used products. In some cases you can get a great find by exchanging your unwanted items for someone else’s treasure. A fun way to do this is to host a barter party. Pick a category such as clothing, tools, movies, books or even video games and have everyone bring items they’re willing to part with. At the party everyone makes trades with each other. It’s a fun way to have an inexpensive evening of entertainment and get some new things as well.
Hand-Me-Downs
When you need something new, the best place to start looking is by asking your friends and family if they have anything they are willing to sell you. You’ll be helping them get rid of something they don’t want and you’ll be saving some extra cash by getting the items used.
Today, there are a myriad of options for buying used products from online auction sites to second-hand stores. Here we take a look at your best options for buying used online:
ONLINE
eBay
eBay is an excellent option to check and compare the going rates of certain items. Whatever you are looking for, you’re pretty much guaranteed to find it here. It’s always a good idea to watch for shipping charges and to check the prices of similar items to make sure you’re getting the best deal. The best benefit of eBay, however, is getting into the habit of selling your unwanted items first and using that money to make your new purchases. It’s an endless cycle of savings!
Craigslist
If you’re looking for something local, Craigslist should be the first place you look. There are a numerous amount of computer and phone apps to help keeping up to date with Craigslist easier. Before using this service, there are a few tips you should consider:
Always make sure to see the product before agreeing to purchase it.
If it’s an electronic product take all steps necessary to make sure it works.
BUYING LOCAL
Thrift Stores
If you’re willing to browse through a mass of items, thrift stores can offer some excellent finds. When it comes to quality, always make sure to do a thorough inspection of what you plan to purchase. Check for holes, tears, missing buttons and stains on clothing. For other items, check for cracks or other signs of hard use.
Second Hand Stores
The amount of second hand stores has increased as people are looking for more economically viable options to purchase the things they need. You can find used stores dedicated to a variety of items such as clothing, baby items, games, books, and sports equipment. The quality of the items you purchase is typically higher than a thrift store as the store goes over all incoming items before accepting them. It is still a good idea to be able to check the working functionality of electronic or bigger purchases. Bonus Tip: Some stores have some wiggle room when it comes to prices. If something is just a little bit out of your budget, try asking for a discount.
Flea Markets, Swap Meets & Garage Sales
Want a fun way to spend an afternoon and get some great deals? Try a local flea market, swap meet or garage sale. You never know what you’ll find at these places, and it’s important to know what you want or to have a set budget before going. Impulse purchases are high at these types of venues and your budget restrictions will help you avoid making unnecessary purchases.
OTHER OPTIONS
Trade With Friends
Sometimes you don’t need to actually buy anything to get the benefit of finding used products. In some cases you can get a great find by exchanging your unwanted items for someone else’s treasure. A fun way to do this is to host a barter party. Pick a category such as clothing, tools, movies, books or even video games and have everyone bring items they’re willing to part with. At the party everyone makes trades with each other. It’s a fun way to have an inexpensive evening of entertainment and get some new things as well.
Hand-Me-Downs
When you need something new, the best place to start looking is by asking your friends and family if they have anything they are willing to sell you. You’ll be helping them get rid of something they don’t want and you’ll be saving some extra cash by getting the items used.
10 Tips for Being Dollar Store Savvy
The dollar store can feel like a frugal shopper’s dream come true. Everything is one set price, so there’s no need to comparison shop. They’re usually not very busy, so you have plenty of space to browse for deals. Even better, the stock is always changing, so there’s always something new to see. However, like most things, if you’re not careful even the dollar store can be a retail trap of overspending. To help keep you dollar store savvy, keep these tips in mind before heading out the door:
THINGS TO CONSIDER
1. Set a budget.
Just because everything is a dollar doesn’t mean you won’t overspend. In fact, the lower price point can lure you into putting more things into your cart than a shopping trip at a regular store. Bring only the cash you plan to spend or set a budget and firmly stick to it.
2. Check for quantity.
One way dollar stores make money is by selling you individual items you’d typically get bundled together such as socks, hair accessories and housewares. So while it’s only a $1 per item, you may have only been spending 75 cents per item in a bundled package at another retail store.
3. Check for quality.
Cheaper isn’t always better. If the item ends up breaking or you have to replace it sooner than expected, then you’re actually losing money. Always check the overall quality of the item and determine whether the cheaper version will hold up as well as the regular priced item.
4. Avoid certain consumables.
Products such paper towels, toilet paper and even food are not good dollar store buys. The reason for this is the quantities are usually off from regular store products. For instance, paper towels have bigger sheets so you use the roll faster. Food is usually in smaller quantities than you’d get at other stores. Light bulbs may be cheaper, but they are not energy-efficient which means you’ll be replacing them move often. Keep in mind the usages and quantity when buying consumables.
5. Avoid food products.
If you’re already a savvy shopper than you know that you can get better food deals with coupons at your regular grocery stores. You’ll also avoid getting inferior products or products with smaller quantities.
BEST THINGS TO PURCHASE
1. Paper Products
Keep in mind tip #4 and avoid paper towels and toilet paper. However, other paper products such as greeting cards, wrapping paper, books, office supplies and stationary can provide excellent savings at a dollar store.
2. Holiday & Seasonal Decorations
Seasonal items are fun and help capture the essence of the season or holiday you are celebrating. However, those extra items can add up. Dollar stores typically have a great array of inexpensive alternatives, especially if you’re the creative type. Before doing any holiday decor shopping always stop by your local dollar store to check out what they have.
3. Children’s Toys & Games
Given the fact that most toys don’t hold a child’s interest for more than a few months anyway, the dollar store can be a great resource for toy and game purchases. You’ll want to check quality on some of the products, but most items are fairly good substitutes. Puzzles and workbooks are great dollar store purchases.
4. Household Products
You can find an amazing assortment of household products at the dollar store from home decor to kitchen and tableware and even cleaning supplies. You’ll always want to check on the quality and if it’s worth the specific use you have for it. It may be cheaper to get a $1 baking dish if you know you’re using it for a potluck and don’t want to worry about getting it back. It’s also a good find for children’s dishes and bedding.
5. Storage Items
Storage items can be fairly expensive. Even at discount stores you’ll find yourself paying $5 or more for storage options. At the dollar store every piece is only a $1. They often have unique storage options as well. You’ll wan to visit at different times to check out new products that may make storing things in your home more effective.
How do you use your local dollar store?
20 Everyday Ways to Save Money
Want to have some extra cash around? Frugal spenders have long known that it isn’t always saving on big-ticket items that makes a real dent in saving money. It’s the little things you do everyday that can add up. When it comes to creating personal wealth, taking the time to educate yourself on other options can go a long way to giving you some extra dough to spend on things you’d really like such as that vacation you’ve always wanted to take.
To help get you started in the right direction, here are 20 little everyday ways you can save money.
Shopping
- Shop outlet stores.
- Buy clothes at thrift or secondhand stores.
- Shop at discount stores.
- Buy food such as bread at local food outlet stores.
- Try generic brands of products.
- Use customer rewards programs.
- Purchase 2-liter bottles of soda instead of cans.
- Use coupons.
- Cut back on disposable product usage.
- Buy used whenever possible.
Eating Out
- Share meals when you eat out.
- Only order water when you eat out.
- Bring your own lunch to work.
- Cook at home.
Entertainment
- Rent movies from RedBox.
- Watch matinee movies.
- Potluck family get-togethers or parties.
- Utilize the public library or free books online.
Bills
- Turn off lights and electronics before going to bed.
- Combine cable, internet and telephone services if possible.
- Cancel cable and use Netflix.
Extra Savings
- Consider memberships for places you frequent.
- Wash and vacuum your car at home.
- Withdraw money from your own bank accounts.
- Avoid overdraft charges.
- Cancel unused memberships.
- Pay credit card balances in full each month and avoid interest rates.
- Improve your credit score.
Share your everyday money tips below!
How to Get a College Education for Free
An education is an investment in yourself that, if used properly, will always pay for itself many times over. It’s quite possible that Schoolhouse Rock said it best – “It’s great to learn, ‘cause knowledge is power.” Whether you’re attending a four-year college, reading books by experts in your chosen field, or watching seminars on YouTube, acquiring knowledge is one of the best things you can do for yourself.
In order to succeed in your chosen profession, you need to know what you’re doing, and in order to thrive in that profession, you need to understand that knowledge isn’t a static thing. To stay on the top of your game, you need to be constantly reeducating yourself with the newest information that’s relevant to your industry. Think about it for a second. Would a realtor do very well if he wasn’t constantly reading up on the housing markets? Would a hairstylist survive if she was still handing out hairstyles from the 60’s? Could a lawyer do his job if he didn’t bother to look at new laws or at decisions from other courts that might affect his clients?
The answer to all of these questions, of course, is no. In order to keep yourself valuable to your company, you need to be up to date on everything about your job. To maximize your growth potential at your place of business, you should really know more than you need to know. If your boss quit tomorrow, would you have the necessary skills and knowledge to say, “I can do what he did, let me take care of it?” Chances are, the person with that expertise would jump straight to the top of potential replacements.
And this theory doesn’t just apply to your specific vocation. You may want to learn a skill that compliments your chosen profession, like a painter learning to use Photoshop or a car salesman learning how to rebuild engines. Or, it could be that your educational choices are taking you in a completely new direction. Maybe you’re a banker who’s always wanted to know how to restore classic cars. Perhaps you’re a social worker who’s always wanted to learn to play the violin, or a business major that wants to learn to cook gourmet meals.
Regardless of what you do for a living, the point is this – learning new things can only increase your personal worth. Just look at the “Renaissance Men” throughout history. Leonardo da Vinci is most known as a painter, but he was also a sculptor, architect, scientist, writer, musician, and inventor, among other things. Even if the things you learn don’t relate to your work, or even to anything you normally do, just think of the confidence that you will gain knowing that you’ve mastered a new skill or become knowledgeable on an entirely new subject.
So, what’s stopping you? For many people, the barrier they encounter has to do with either time or money. Taking college classes, even at a community college, can require a big time commitment, and after factoring the price of gas, books, and supplies, a single class can wind up costing hundreds of dollars. At a four-year university, the cost of classes is significantly more, with most people having to take out student loans that take decades to repay. The average person can’t hope to be able to spare the time and/or money necessary to partake in either of these options.
But the beauty of the world today is that we don’t have to. There are literally dozens of places where you can educate yourself, on your own terms, at your own pace, about anything you want, for absolutely free. And all of these places can be accessed from your living room. I’m talking, of course, about the Internet. The Internet is the single greatest collection of knowledge and information from every corner of the world, and in this day and age, more and more websites are offering free classes for anyone interested. Let’s take a look at some of the best places to get a free education online:
iTunes University
iTunes U is an entire section of iTunes where colleges and universities form around the US can offer online courses to anyone with an iTunes account, completely free! And these aren’t small schools. We’re talking about courses from Oxford, Yale, Harvard, MIT, Washington College, and many more. Of course, no amount of iTunes U courses will get you a degree, but the knowledge you acquire will stay with you for the rest of your life.
The Personal MBA
From the website: “The Personal MBA is a project designed to help you educate yourself about advanced business concepts on your own terms.” This site takes a collaborative approach to education, encouraging you to read books from their list of the “99 best business books” and then discuss them within the community in order to educate yourself at your own pace, with the help of thousands of other people doing the exact same thing.
Lynda.com
Lynda.com is a site that boasts over 40,000 video tutorials on a variety of technology-based jobs, from photography to audio and video, from 3D visual effects to accounting and online marketing. They fly experts from around the world to their studios in California to produce the highest quality, most informative tutorial videos available on the web. Membership to the site is $25 a month (a side benefit of this is that there is no advertising on the site), and is well worth it, but if you don’t want to pay, there are more than 5,000 of their videos available 100% free.
Other resources:
FreeOnlineEducation.com
Free Educational Resources from Ed.gov
GCFLearnFree.org
Another way to pick up an Ivy League education without racking up $100k in loans is through “open courses.” These are actual courses being taught at prestigious universities, available to you for free online. Just a few examples include:
Open Yale Courses
MIT Open Courses
University of Irvine Open Courses
UMass Boston OpenCourseWare
Webcast Berkeley
Carnegie Mellon Open Learning Initiative
Johns Hopkins Bloomberg School of Public Health’s OpenCourseWare
As you can see, there are many ways that you can further your education and increase your knowledge without paying anything at all. In these difficult economic times, every dollar counts, and being able to sit in on classes at Harvard or Yale for free is something that should be taken advantage of! The Internet truly is the information superhighway, and learning to harness that information and use it for your benefit is an important skill to master.
For even more links to free education on the internet, check out the 100 Best Websites for Free Adult Education.
12 Rewarding Alternatives to Retail Therapy
There’s nothing quite like the rush of getting something new, especially if it’s something you’ve wanted for a while. In today’s economy, many people are suffering and dealing with financial issues that they’ve never had to face before. In an effort to lift up their spirits, retail therapy has become the new chocolate. It’s almost as if as a nation we’ve begun to think if we don’t spend it while we have it, we might never get the chance again.
The upside of this is that there is a solution, and it doesn’t always mean cutting out shopping. If you’re in the process of building your credit or paying off debtors, you still need to feel like you’re able to “buy” things without putting a damper or another black mark on your finances. That means paying a little more attention to how and why you buy and trying different ways to get that “new” feeling without having to make a purchase.
To help get you started, we’ve compiled a list of ten alternatives to retail therapy. Our goal is to provide you with alternatives that not only feel good, but are also light on your wallet.
Breaking The Habit by Staying Home
What has made us into a commerce society? Often, one turns to shopping just because it’s something to do, and for others it’s become a habit – simply a part of their lifestyle. To help break the habit, consider these alternatives:
Night Out at Home
Instead of going out to dinner or out to enjoy the nightlife, consider staying in with friends instead. A party or get-together is significantly cheaper and more rewarding experience than going out. Have everyone bring something to contribute and enjoy your time together.
Movie Night
With Netflix and Redbox, home entertainment has never been cheaper. Get together once a week to watch a TV series on Netflix or make it a movie night with $1 movie rentals from Redbox.
Game Night
Whether your cup of tea is board games or video games, getting together for a little friendly competition is always an inexpensive night out. This works great in a group or for couples as a date night. You can make it a weekly night out by switching up genres or games each time you get together, and by having a different person or couple host each week.
Host a Make Your Own (Something) Night
Instead of taking expensive cooking or hobby classes, considering taking a stab at learning something new with a group of friends. Break down the cost of all the materials needed and split the expense between everyone attending. Have someone designated as the “guide” for the night and have fun trying something new in a comfortable environment.
Going Out On A Budget
When it comes to going out, expenses can add up quickly. Avoid overpriced escapes with these economic alternatives.
Going Natural
Nature is a beautiful and free commodity that we can always take advantage of. Go for a hike, go on a photography walk or just enjoy the sunset. Picnics in the park, frisbee golf and bird watching are also excellent examples of using Mother Earth’s resources to create fulfilling experiences. If you’re feeling up to a longer excursion, consider camping as a great alternative
to a hotel getaway.
Get Physical
Many forms of exercise are inexpensive and entertaining ways to spend time. Get in shape and have fun doing it with activities like enjoying a bike ride, roller blading by the beach or lake, scenic walks or playing sports with friends.
Local Events
Many cities have free local events that offer a nice entertainment alternative. It’s a good way to support your local community and have a great time meeting people in your area or just getting out to enjoy something new.
Community-Based Stores
With the economy on a downward trend and the increased competition of discount stores, local retail stores have had to turn to new methods to attract customers. One trend is hosting in-store events. Local wine or gourmet shops hold free (or nominally priced) wine or food tasting events. Bookstores have readings and author meetups. Game stores hold game nights and tournaments. Home improvement and craft/hobby stores hold free (or nominally priced) lessons. Call around or visit your local stores’ websites to find out what events might be occurring.
Purchasing Power
When there’s no way around it and you absolutely need to go shopping, consider these tips to avoiding overspending.
Trade In for Something New
Many stores that sell used products will buy your used items for store credit or sometimes even cash. Clean up some extra space in your place and trade up for something new by going through your older items. Books, music and games are all excellent trade-in items. You can also use services such as eBay to do this as well, only using the money you make from selling items to purchase newer ones.
Buy Used
Save the environment and your pocketbook at the same time by buying used. The items may not have that fresh new feel, but they are definitely a lot cheaper, and most used stores and thrift stores have fairly good standards in what they accept. This is an excellent option for clothing, books, children’s toys and furniture, exercise equipment and home decor.
Set A Budget & Stick To It
The biggest problem with shopping is the tendency to overspend. If you only bring the exact amount of cash you desire to spend with you, all temptation to pick up that extra item at the check stand is removed.
Use the Barter System
Sometimes, focusing on how to get money to get what you want is the wrong way to go about things. If you open yourself up to new possibilities, there could be quite a few alternative ways to get what you really want. In many cases, you might be able to swap services with someone to get what it is you need. Maybe you need your lawn mowed weekly. Perhaps that person needs a service you can offer in exchange. Never be afraid to think outside the box or to just ask someone for another solution. They are probably in the same situation as you and would welcome an alternative to getting what they want as well.
Remember, that the focus isn’t always on finding the cheapest or most inexpensive way of doing something. It’s about finding the richest experience for yourself at a smart expense. Think about your own lifestyle and what makes you happiest. Now, search for creative ways to keep those experiences while paying less to have them.
Here’s a Quick Way to Save $2500 a Year on Groceries
One of the biggest monthly expenses for most families is the cost of food. Other than your house payment or car payment, groceries are the biggest drain on your wallet. The average family spends more than $6,000 a year on food. Fortunately, it is not that difficult to shave hundreds of dollars off of your monthly food expenses by following some of these great tips.
1. Switch to store brands
One of the biggest ways to save money on food is by simply switching to store brands instead of the commercial name brands. As most of these store brands are 30% cheaper than the average commercial brand, this can lead to a saving of up to $1,500 per year. You will also be surprised to know that in a taste-off study by Yahoo Shopping, the store brands were found to be comparable in terms of taste, quality and nutrition.
2. Plan your grocery spending
Another way to save money on groceries is by implementing a little planning. On average, families today throw out about 15% of the food they buy at the grocery store because it went un-used. When you consider that the average annual grocery bill as detailed above, that is an extraordinary $900 a year on wasted food. With a little planning, however, we can cut down this waste dramatically. Plan your meals for the week and only purchase what you need for those meals. Take a look in your refrigerator and think of great uses for the ingredients you already have. There was a reason you purchased that food in the first place, why let it go to waste? Also, stop making daily trips to the grocery store. Most Americans don’t think about what they want to eat that day until they start to get hungry. Then they jump in the car and drive to the grocery store to pick up what they are in the mood for, sometimes forgetting that they have certain things in the fridge or freezer already. A little planning can therefore save a lot of money.
3. Stop Paying For Convenience
There is a lot of truth in the saying that we pay for convenience. For example, you can get a head of romaine lettuce for about half the cost of the pre-packaged, pre-washed chopped lettuce bags that you find in every grocery store. This is a huge waste of money for the sake of a little convenience, especially when you think that most people use the entire bag in one meal instead of just cutting up what they need.
Another huge cause of over-spending due to convenience is eating out. It is so much easier to go to Subway for lunch instead of making your own sandwich and bringing it with you. Bringing your own lunch can actually save you over $2,000 per year. That is the equivalent of a $1 per hour pay rise!
4. Save Gas
With the average price of gas climbing to over $3 per gallon in the U.S., the family car is a huge drain on your wallet. Group your trips and errands together so that you make less trips in the car and you can save a substantial amount of money. For example, planning your meals for the week will result in one trip to the grocery store each week instead of seven. While you are out, why don’t you also go and pick up that rake you needed from the hardware store instead of making another trip later?
5. Eat Less by Drinking More Water
A Washington University study recently proved that most people who think they are hungry are actually just thirsty. In fact, in their study, when people drank a glass of water when they were hungry between their meals, the hunger pans went away almost every time! This is especially true when the midnight hunger pangs hit. By drinking more water, not only are you living a healthier lifestyle, you will also find that you are eating less and saving more money.
Build Credit: 10 Best Websites For Frugal Living
Creating personal wealth isn’t always about making more money. Sometimes it’s about spending less or spending smart as well. That’s where paying attention to ways you can economize not only your purchases, but also your time and your experiences can offer big rewards.
It’s true that for some the word frugal can bring up negative connotations. However, living frugally doesn’t have to mean you need to penny-pinch or live like a miser hoarding your money. True frugal lifestyles are about finding ways to get the best life has to offer at the cheapest or most “frugal” prices possible. It means making informed decisions about where and when you spend your money. If your goal is to get out of debt, or get ahead financially, finding ways to decrease your spending is going to be quite helpful.
With this in mind, below is a list of favorite websites that help promote frugal lifestyle choices and spending habits.
Frugal Living
There are hundreds (possibly even thousands) of ways to make your everyday life more efficient and profitable. From saving money with your nightly dinner meal to time saving tips that help you get more done, these sites will help you stash away some much-needed dough.
CheapCooking.com
Learn all the ins and outs of creating your meals on a budget.
Frugal Village
Everything from frugal living to frugal cooking tips.
Make Better Choices
Nothing’s worse than that sinking feeling of overspending or feeling like we’ve gotten duped. Avoid common pitfalls by doing some research first with these sites.
GasBuddy.com
Check all the prices of gas in your local area to find the best deals.
TripAdvisor.com
Make sure the hotel you booked is actually what’s being offered by browsing through the reviews of locations at TripAdvisor.com.
Angie’s List
Worried about doctor, a contractor or even a local business? Check out Angie’s List first to get reviews by other members on virtually every type of business. Caveat: This is a paid for membership site based on where you live. Most yearly fees are below $40.00.
Discounts & Coupons
It may feel annoying waiting while they ring up all your coupons, but when that savings gets you an extra tank of gas each week, you won’t mind the extra time spent.
Retail Me Not
Want great stuff from your favorite stories, but don’t want to pay full price? This site features coupon codes from all of the top retailers.
CurrentCodes.com
Less flashy than Retail Me Not, CurrentCodes.com offers coupons and special offers from a wide selection of online retailers. The categories covered are quite extensive, featuring coupons for everything from computers to baby products.
CoolSavings.com
Want to save money on the products you already buy? This site allows you to search by your zip code for coupons available at stores in your area.
The Grocery Game
Like having the inside scoop on local deals? The Grocery Game does just that. They provide you a list of savings from grocery stories in your area so you know where to buy what at the cheapest prices. This is a membership site that charges $10 every 8 weeks. However, you can try it for four weeks free.
Daily Deals
Sometimes deals so great come by that you have to swoop them up. This is the thought process behind daily deal sites. Each day, you’re only offered one deal at an extremely discounted rate. If it’s something you’ll use, you’ll gain significant savings from taking advantage of the offer.
Woot
In addition to their main daily deal site they also have sites dedicated to specific products such as shirts, wine and kids.
Groupon
Want to book a local hotel for a discount rate? How about trying that new restaurant? Groupon is an excellent service for finding daily deals on services and products locally.
These are a few of our favorites. Take a few minutes and share yours!
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