INTRODUCTION 4
1. HOLIDAY GIFT GIVING 5
2. CLEARANCE 5
3. THRIFT / SURPLUS STORES 6
4. WRAPPING PAPER AND BOWS 6
5. REUSE 6
6. LANDSCAPING 7
7. BUDGET 7
8. PLAN 7
9. BUY IN BULK 7
10. ALLOWANCE 8
11. WHAT MATTERS TO YOU 8
12. SETTING GOALS 9
13. BE REALISTIC 9
14. FLEXIBILITY 9
15. INSURANCE 9
16. COUPONS 9
17. CREDIT CARDS 10
18. MORTGAGE PAYMENT 10
19. CREDIT CARD INTEREST 10
20. PATIENCE 10
21. FINANCIAL CONSULTING 10
22. BREAK OLD HABITS 11
23. AVOID TEMPTATIONS 11
24. THE RIGHT TIME TO SHOP 11
25. MAKE YOUR OWN GIFTS 11
26. BARTER SYSTEM 11
27. MATINEE 12
28. COMPARISON SHOP 12
29. STOP COMPETING WITH THE JONES' 12
30. SALES CLERK COMPLIMENTS 12
31. INCENTIVES – REWARD PLAN 12
O
UTSTANDINGM
ONEY-SAVING TIPST
ABLE OF CONTENTS101 Ways To Stop The Money Leak
O
UTSTANDING MONEY SAVING TIPS32. DOLLAR STORES 13
33. DON'T GIVE UP THE GOOD STUFF 13
34. UTILITIES 13
35. CHECK THE GARBAGE 13
36. WRITTEN PLAN 14
37. ATTITUDE 14
38. UNSECURED CREDITORS 14
39. OFF-SEASON 14
40. BUY VERSUS RENT OR LEASE 14
41. BUFFET MEALS 14
42. CABLE NETWORKING 14
43. PROPER MAINTENANCE 15
44. COMPANY STOCK / 401K 15
45. FAMILY HAIRCUTS 15
46. WANTS VERSUS NEEDS 15
47. REFINANCE 15
48. GO GENERIC 15
49. STOCK UP 16
50. SHOPPING FOR CLOTHES 16
51. CAR POOL 16
52. TRENDY FASHION 16
53. FREE ENTERTAINMENT 16
54. TELEPHONE / MOBILE PHONE 17
55. HOME REMEDIES 17
56. PAY ON TIME 17
57. INSULATION 17
58. CANCEL SUBSCRIPTIONS 17
59. CONSOLIDATE YOUR ERRANDS 17
60. SELL YOUR STUFF 18
61. TURN YOUR HOBBY INTO MONEY 18
62. RECYCLE 18
63. HEATING AND COOLING 18
64. SHOP ONLINE 18
65. CONSIGNMENT SHOPS 18
66. SELLING YOUR HOME 19
67. STAY OUT OF THE MALLS 19
68. CAR SHOPPING 19
69. CHECK RECEIPTS AND STATEMENTS 19
70. CHALLENGE THE DOCTOR/HOSPITAL 19
71. OVERDRAFT PROTECTION 20
72. BANK ACCOUNTS 20
73. ORGANIZATION 20
74. GOOD HEALTH 20
75. AUTOMOBILE CARE 21
76. VACATIONS 21
77. ANNUAL MAINTENANCE 21
78. BORROWING MONEY 21
79. REPAIR VERSUS REPLACE 21
80. DINING OUT 22
81. PLAN MENUS 22
82. COORDINATE EFFORTS 22
83. COMPUTER SOFTWARE 22
[ 2 ]
84. LIFE SATISFACTION 23
85. LIVE WITHIN YOUR MEANS 23
86. APPROPRIATE DEDUCTIONS 23
87. CHRISTMAS FUND 23
88. PREVIOUSLY VIEWED 24
89. DINNER GUESTS 24
90. INSTANT MESSAGING / MICROPHONE 24
91. LONG DISTANCE CALLING 24
92. FREEZE FOODS 24
93. BALL GAMES 25
94. DISCOUNT BOOKS 25
95. BABY FOOD 25
96. SQUELCH THE SMOKING 25
97. REBATE PROGRAMS 25
98. SEASONAL BUYS 25
99. POCKET CHANGE 26
100.FREEBIES 26
101.SEE YOUR SUCCESSES 26
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O
UTSTANDING MONEY SAVING TIPSPeople are always trying to save money, especially with today's economy. No matter what your reason
for saving, through this ebook, you will discover ways never considered.
The price of everything has gone up, requiring people to be more conscientious about money. The
problem is that by the time the mortgage, car, utilities, and credit cards are paid, there is little money to
put aside. Saving money is not that hard, just a matter of learning all the different options and being
creative.
In addition to the obvious of putting money into a retirement fund or savings account, there are
hundreds of ways to save money. Although some ways of saving may not seem like much, once you
add them up at the end of the year, you will see how substantial the savings really are.
Keep in mind that saving is more than a single lump sum of money put aside. Saving is something
found in your everyday life by the way you live and the choices you make.
Rome was not built in a day and neither will your bank account be. Each penny saved is one more
penny than before. If you have the ability to save big, that is great. However, most people are not in that
position, which is why this e-book will show you how little savings can add up quickly.
Be encouraged that it is never too late to start saving, regardless of your age. Set your mind that now is
the time to start building your future.
Imagine you have a huge water pot. Each morning you fill that water pot to the brim with lovely
refreshing clean water HOWEVER you don't realize that the water pot has numerous leaks in it.
What happens?
Of course... During the day that water pot slowly runs empty because of all of the leaks. You come
home from work dying of thirst and you go to your precious water pot and it's dry.
Sadly this is what we do with our money too... Unless we find ways to save it our financial life
resembles very much that of the water pot.
Unless we plug the leaks there will come a day when we need to buy something but the money pot will
be dry.
It all starts with plugging the biggest leaks first...
Plug just one big leak and that will keep the water and money pot fuller for longer. Manage to plug a few
other leaks and your money pot will not be empty when you need it most.
[ 4 ]
O
UTSTANDING MONEY SAVING TIPSI
NTRODUCTIONThis tip is especially helpful for large families. Although it is fun buying for and receiving from everyone,
it can be very expensive. Make an agreement with your family that you will continue to buy for the
children but that the adults will go with a name exchange.
This way the children are not disappointed and you can spend a little more on one or two people rather
than spreading your money thin. For the members that you did not pick to exchange with, bake a loaf of
their favorite homemade bread or cookies.
Here's another way to give gifts to everyone for less then $1.00 each…
Do you own a computer?
If so the chances are you will have all the equipment you need to implement the following money
saving gift strategy.
You will need to already own a computer, scanner or digital camera and CD burner.
The idea is to take photos… either with your digital camera or scan in photo's from your existing album
of your family.
Create a slide show and burn both the individual photos and slide show onto the CD. This will cost you
less then $1.00 for each CD and your family members will love it.
By having the individual photos on the CD your family members can print out there own images
afterwards.
This is especially great if you have photos of major family events throughout the year such as
reunions, gatherings and birthdays.
You could also create calendars and even video shows with the same content and burn them on the
CD as well.
Always head straight for the clearance rack where you can find amazing bargains. Sometimes you
may have to dig a little to find the right item but the savings will be well-worth your time. Most clearance
racks offer variety, current trends, and great value. For example, Bed, Bath & Beyond has a clearance
section where you can find all kinds of wonderful household items for a fraction of the original cost.
Another great way to save money is to shop on the Internet. There are big savings to be had from
online auctions especially
Be careful to take into account the cost of shipping before buying a product this way.
Other huge savings can be made from online stores because in most cases you are purchasing direct
from the wholesaler.
EBay
[ 5 ]
O
UTSTANDING MONEY SAVING TIPS1. H
OLIDAY GIFT GIVING2. C
LEARANCEUnfortunately, thrift and surplus stores have been given a bad rap. Many of these stores are filled with
hundreds of top quality Items.
Name brand merchandise is easy to find but just like clearance racks, it takes some time to find. Find a
thrift or surplus store close to where you live and then plan spending some time to find those
outstanding bargains.
One woman in Kansas City, Missouri located such a store about 20 minutes from her home. After
shopping through every isle over the period of two hours, she walked out of the store with eight huge
garbage bags filled to the brim with designer clothes for her and her children, many with the original
tags still attached.
She even found a couple of Liz Claiborne suits for herself at $5.99 each and a Dooney & Burke purse
normally valued at $225 for $19.95. Her children had an entire season of school clothes and best of
all, she paid less than $200.
Create your own wrapping paper, which is not only unique, but also fun. Use plain brown grocery bags
and craft-like paints to make your design.
After wrapping the gift, let your creative juices flow. For example, using black and yellow craft paint,
create a miniature road. Then dipping toy truck tires into red paint roll them along the paper making tire
tracks.
You can then draw free hand a stop sign, yield sign, or stop light. Next, using a hot glue gun, glue a
couple of the miniature trucks to the paper. This is perfect for a young boy. He will be just as thrilled with
the wrapping as the actual gift.
For a girl, you can simply create miniature bows from existing fabric or lace and glue them on brown
paper then free hand draw colorful flowers. Just use your creativity and look around for items you
already have on hand to use.
When you shop, look for items that can be reused. Rechargeable batteries are a perfect example.
Even though the initial purchase may be more than non-rechargeable batteries, there is a definite
saving over a long period.
Another option would be to purchase a nice artificial Christmas tree. Many of the current artificial trees
look amazingly real and with the right lights and ornaments, you can change the look from year to year.
We actually purchased one of these trees this year and the kids absolutely loved it and now we can
use it every year without any further expense.
[ 6 ]
O
UTSTANDING MONEY SAVING TIPS3. T
HRIFT / SURPLUS STORES4. W
RAPPING PAPER AND BOWS5. R
EUSEIf you are considering creating a nice flower garden area, shopping for plants even on sale, can be
expensive. Before you go out and start spending, look around to see if you have other plants that can
be split from your existing flowers.
Also compare prices before you go.
Additionally, if you have a good relationship with any of your neighbors, you might ask them if they
have any plants you could use as a starter.
Another great idea is the next time you are in the market to buy a lawnmower, purchase one that
mulches leaves. This way, rather than buy mulch for your flowerbeds every year, you can simply use
the mulch you make.
Everyone should create a budget. If you are not sure how or just not good with money, many
businesses such as H&R Block, offer free financial consulting to help you put a budget together.
Knowing where you are spending your money is by far the best way to save. In most cases, people
have no idea where their money is really going and once they see it on paper, not only are they
surprised but also eager to change their spending habits.
If you are wondering where to start go to Google and search for budgeting tips and you will find plenty
of free advice including spread sheets.
Another great place is to try your banks web site and go to the loan application area and they should
have some free budget sheets as well.
Planning is a great way to save. Before you go to the grocery store, make a list and stick with it.
If considering a vacation, plan everything.
Heading out with no set direction will certainly lead you to impulsive spending.
This sounds so simple and obvious you may even overlook it.
For example do you know that the supermarket is deliberately laid out to entice you to buy more then
you planned to?
If you don't write a list and then stick to it then you WILL definitely buy more then you budgeted for.
Same goes for vacations. You can save a lot of money by booking ahead of time. In fact you can save
money on accommodation just by booking online.
It is true that warehouse shopping can save a lot of money. Even if you have a small family, you can
6. L
ANDSCAPING8. P
LAN[ 7 ]
O
UTSTANDING MONEY SAVING TIPS7. B
UDGET9. B
UY IN BULK[ 8 ]
always split large quantities.
The price of items in bulk is generally a great bargain.
If you are single, you might go in with friends or family on bulk items.
Every town usually has a warehouse of some sort where you can buy bulk purchases.
Another place to find bulk items is
Most of the time when we think of bulk purchases we think of food or cleaning items however it doesn't
have to stop there.
Most search results in ebay also offer bulk lots.
For example if you need a new camera you could buy a bulk lot and sell them individually to others and
share in the savings. You would even be saver teaming up with 10 other people who needed the same
item before buying then the cost is covered with no risk.
You can buy all sorts of things in bulk from ebay and it's well worth the effort to keep an eye out for a
bargain.
Do not forget to give yourself an allowance for things you enjoy. Even if on a tight budget, buy
something that you enjoy, which could be as simple as buying a new shirt or grabbing lunch at your
favorite café.
If you do not allow yourself this small "splurge", you could find yourself in the same position as if
dieting. Total deprivation leads to overindulgence.
The whole idea of this book is to show you how to save money while at the same time living a normal
life.
What's the point of scrimping and saving to only live a miserable live. You can still spend money and
be generous to others and perhaps even more so by being smarted with money in other areas of your
life.
Make a list of the 10 most important things in your life. Next to each item, rank them in order of
importance using numbers 1 through 10.
The purpose of this exercise is to help you see the things you consider the most and least important
and to provide you with a visual of why you need to save.
Some examples of things that a person might put on their list include new home, car, special trip,
artwork, starting a business, or pay off debts.
Sometimes it pays to itemize how you are going to get those items. For example if you go for the new
home first you could use the equity from the home to purchase a car.
eBay
10. A
LLOWANCEO
UTSTANDING MONEY SAVING TIPS11. W
HAT MATTERS MOST[ 9 ]
However if you went for the car first you would more then likely struggle to get the home.
See what I mean?
Sit down and itemize what you want and then draw up a plan for how you can achieve those results.
Break your goals into short-term, intermediate-term, and long term. Being able to see your
accomplishments is a great motivator for you to work hard at saving.
If you set a short-term goal of saving for tickets to the symphony and reach that goal, you will be
encouraged to keep saving for the intermediate and long-term goals.
When it comes to saving money, make sure the goals you set for yourself are realistic. If you earn
$50,000 a year, saving $20,000 would be nice but it is very unrealistic. Make your goals attainable or
you will never save.
Once you have set your goal for saving, realize that things can and will change. The secret is learning
ways to be flexible. If you normally save $150 a month, when something unexpected happens, you
may only be able to save $50 that month. This is fine as long as you focus on getting back on track.
Shop around for insurance and work with a good agent that can provide information on discounts such
as good student, multi-car discount, etc.
Some people think the price of insurance is the same from one company to the next. However, prices
can vary dramatically and to ensure you get the best deal, you need to consider all your options.
This is not to be ignored.
You can save enough from your insurance costs to pay for a decent end of year holiday.
Okay, maybe you used to laugh as you watched people pull out their coupons at stores but the truth is
that using coupons can save you hundreds of dollars every year.
Coupons can be used at grocery stores, retail chains, any store where the item is sold. Some stores
offer double coupon days, which is an extra bonus.
On average, you could easily save from 5% to 15% on a bill for $100 simply by presenting a coupon.
Coupons are not just for food items and by scouring your local newspaper you can find coupons for all
sorts of merchandise.
12. G
OAL SETTINGO
UTSTANDING MONEY SAVING TIPS13. B
E REALISTIC14. F
LEXIBILITY15. I
NSURANCE16. C
OUPONS[ 10 ]
Use credit cards only for emergency.
Although convenient, credit cards are dangerous and damaging.
In addition, if you have a credit card that has a $1,000 balance and you pay only the minimum payment
each month, it will take you between 20 and 30 years to pay off that $1,000 balance since the majority
of money is going strictly toward the interest and not the principal amount.
Sadly the incorrect use of credit cards is the major cause of bankruptcy.
Paying one additional mortgage payment each year, whether in a lump sum or monthly increments
can lower a 30-year loan down to 18 years.
If you pay more than one extra payment, the number of years will decrease even more. Since this
additional payment will be applied only to the principal and not the interest, you end up saving
thousands and thousands of dollars once the home is paid off.
If you are budget conscious then home-equity loans will provide even greater savings.
If you have credit cards and your credit is in good standing, call your credit card company, and ask for
your interest rate to be lowered. It is truly that simple. Unfortunately, most people do not even realize
this is an option so they never make the call. Just tell the representative that you want a better rate on
your credit card and they will take care of your request.
Be patient when it comes to saving. This means that you need to accept that it will take time to save
and good planning. Be patient and remember that just because you want something, do not rush to
buy just to satisfy your urge. Instead, wait for sales in order to get the best price, which in turn will save
you money.
Many financial companies and even churches offer outstanding classes on how to manage money.
While some of these programs are free, others may have a nominal fee of around $35 to attend but the
money is well spent.
Another great option is consumer-counseling services. This is a great option for people in over their
head with debt. The counselors will work directly with your creditors to lower your balances, interest
rate, and establish workable payments that you can afford.
O
UTSTANDING MONEY SAVING TIPS18. M
ORTGAGE PAYMENT19. C
REDIT CARD INVESTMENT20. P
ATIENCE17. C
REDIT CARDS21. F
INANCIAL CONSULTING[ 11 ]
Take time to learn the various things that "trigger" your spending.
When you are depressed, lonely, sad, anxious, excited, whatever it may be, do you spend more?
Once you can identify these triggers then you can learn how to control them. As an example, if you
were just laid off from your job, although money is tight, you may have an overwhelming "need" to
spend money.
Perhaps you notice that when you are bored, you head for the shops. Knowing what affects you will
help you to discipline yourself to find other ways of comfort.
If you have a particular weakness, stay away from it. If you love to gamble, stay out of the casinos. If
you have a weakness for shoes, drive past your favorite shoe store. While avoiding temptation is hard,
it is also necessary in order to save money. When you want to give into your temptation, this is the time
to use your "allowance".
Studies have proven that when shopping while hungry, depressed, tired, and stressed, you buy more.
Before you head to the grocery store, eat something. If you are upset or feeling a little blue, calm
yourself down or wait until you feel better before you head out to shop. As funny as it may sound,
having a clear mind is important when it comes to shopping and spending money.
If you ask people if they prefer a store bought or handmade gift, the majority would choose the latter.
Handmade gifts are individualized and come from the heart.
When you have a birthday, anniversary, baby shower, wedding, or Christmas gift to give, make the gift.
For Christmas, you could make a beautiful ornament or door wreath, for a baby shower you could
purchase an inexpensive bib pattern and make special bibs, or for a wedding, you could create a
wonderful album of photos showing the couples dating life.
Other great options include making homemade hot chocolate, soaps, candles, or lotions and placing
them in inexpensive glass containers or baskets purchased at a thrift shop. If you use a mason jar, add
foam and fabric under the lid for added color, use a label to write the contents and a message of
endearment, and wrap a nice piece of ribbon around the ridge. The options are endless, so get
creative.
Gather friends, family, neighbors, and co-workers and set up a bartering system. Offer babysitting to
one family in exchange for them mowing your lawn or offer to clean someone's house in exchange for
a week of car-pooling your child to school. You would be amazed at the opportunities and the money
that can be saved using a bartering system.
O
UTSTANDING MONEY SAVING TIPS22. B
REAK OLD HABITS23. A
VOID TEMPTATIONS24. T
HE RIGHT TIME TO SHOP25. M
AKE YOUR OWN GIFTS26. B
ARTER SYSTEM[ 12 ]
Do you love the movies but hate the prices?
Switch your nighttime show to the late afternoon or early evening matinee. The price is about 50% less
and when taking an entire family, that is a nice savings.
Pop your own popcorn, put in a plastic bag, and place in a large purse and make or buy your own
candy, leaving only drinks to buy.
Food at the theater is outrageously priced.
The next time that you head to the movies, hit the matinee, stuff those jellybeans and licorice sticks in
your purse, and enjoy the savings. Also, check for movie tickets online, which can be discounted.
Comparison-shopping can make a big difference in the price you pay. You might be looking at a
barbecue grill at one place for $350.00 and by making two more stops, find the exact grill or one
comparable for $300. In addition, consider the price of items assembled versus unassembled. For
example, you might find the barbecue grill unassembled for $250. A couple of hours of "fun"
assembling the grill is certainly worth a $100 saving.
You do not have to compete with anyone. Be proud of what you have and who you are. If you can only
afford an inexpensive sofa from a thrift store, find a nice throw, make a few pillows, and be proud and
thankful.
Competitiveness is a part of nature and to a degree, healthy.
However, when competition creates a buying war to see who can have the "best" when they have no
business buying at all, then it becomes damaging. Stick to what you can afford regardless of what
anyone else has or pressure you might be feeling.
Sales clerks are often paid on commission. Therefore, when you walk into a store and try on an
expensive suit, you can be guaranteed you will hear several times over how wonderful you look, how
great that suit fits you, etc.
Because this is how the clerks make their money, they will say whatever it takes to make the sale. You
probably do look good but do not allow yourself to be pressured into buying something beyond your
means.
Know what you want, the price range you can work with, and stick with your own rules, not theirs.
To help you and your family spend more wisely, set up a system where rewards are given when the
rules set forth are followed.
O
UTSTANDING MONEY SAVING TIPS27. M
ATINEE28. C
OMPARISON SHOP29. S
TOP COMPETING WITH THE JONES'30. S
ALES CLERK COMPLIMENTS31. I
NCENTIVES - REWARD PLAN[ 13 ]
For example, if a family decision was made to start making lunch and brown bagging it to work and
school instead of paying each day, the incentive might be that if this is followed strictly for one month,
the entire family can spend a Saturday at the Zoo or favorite theme park.
Many years ago, dollar stores offered only off brand products or poorly made merchandise. However,
that has completely changed.
Now you can walk into a dollar store and find the same name brand laundry soap, cleaning supplies,
clothing, school supplies, everything for a fraction of the cost.
Where a store name brand bottle of laundry detergent might cost $6.50 at a grocery store, you can find
the identical product and size at the dollar store for $2.50.
Check out your local dollar store and enjoy the mountains of savings.
A misconception is that while trying to save money you have to deal with sub-par merchandise, which
is untrue. If you love fresh breads and pastries, visit a bakery thrift store. For your fresh fruits and
vegetables, visit your local farmer's market. Try eBay or other auction sites to buy top quality
merchandise for a huge discount. Watch for neighborhood garage sales or estate sales and auctions
to find items you need. Just because you are looking for bargains as a way of saving money does not
mean you have to skimp on quality.
Set up some rules in your home such as turning lights off when leaving the room, having only a parent
adjust the air or heat, leaving the doors or windows open when letting either cold or hot air into the
house.
Utilities are expensive and a great money saver is to monitor how they are used in your home. Another
great idea is the investment of buying an energy-efficient hot water heater.
If you cannot afford one, lower the setting so you are not heating water so hot. The hotter the setting,
the more energy used.
One woman had her teenage daughter clean her room. The daughter proudly did just that, filling two
huge trash bags of things she no longer wanted.
Out of curiosity, the mother peeked into one of the bags to see what was being thrown away. In shock,
she found a new tube of suntan lotion, two perfectly good sweaters, makeup, lotion, a picture frame,
hair curlers, all good things.
The daughter did not realize that just because the items were of no interest to her, they might be to
someone else. After talking to her daughter, the mom turned around and listed the items on eBay,
making a $35 profit on her daughter's "junk."
O
UTSTANDING MONEY SAVING TIPS32. D
OLLAR STORES33. D
ON'T GIVE UP THE GOOD STUFF34. U
TILITIES35. C
HECK THE GARBAGE[ 14 ]
When a person goes into business, they create a Business Plan, which becomes the blueprint of their
business. The same should apply if you are trying to save money. Create a master plan that the entire
family can get involved with and learn their role. When you start to spend too much, go back and look
at your plan to see where you are messing up and how you can fix it.
Good money management is an acquired skill. As you go forward with the process of saving money,
you need to have a good, positive attitude, which is often what will keep you and your family heading in
the right direction. If you think you cannot save, then you probably will not. Be determined and stay
positive about saving.
Make a list of all your unsecured debts along with creditor contact information and payoff amount so
you can have an accurate record of how much you owe. Choose one creditor, possibly a credit card,
and focus on paying off that bill. Once you have achieved that goal, choose another. Start with the debt
that has the highest interest rate since it is the one costing you the most money.
The next time you plan a vacation, consider off-season. Generally, the prices for airfare, hotel, and
cars are substantially lower than traveling during peak time.
If you look at all your options, you will find that in many cases, you can come close to the date you
would like to travel. As an example, flying to Hawaii through June 8 is considered off-season while
June 9 is peak.
One day makes a huge difference in price.
When looking at homes or automobiles check the rent and lease options. Depending on your
particular situation, renting or leasing may be a better financial decision. Weigh all your options and
see which choice makes the best sense from a financial standpoint.
When taking the family out to dinner, consider restaurants that have buffets. In many cases, the prices
are outstanding and a parent can share with a small child. In addition, many buffets are "all you can
eat" and of course, there is something for everyone.
If you have a computer upstairs and another downstairs and you use high-speed data, have one of the
computers as the primary computer and the other as the backup. This way, you are only charged once
O
UTSTANDING MONEY SAVING TIPS36. W
RITTEN PLAN37. A
TTITUDE39. O
FF-SEASON38. U
NSECURED CREDITORS40. B
UY VERSUS RENT OR LEASE41. B
UFFET MEALS42. C
ABLE NETWORKING[ 15 ]
for Internet access and a small fee of $10 to $15 a month for the second computer. This is a great
bargain!
Purchase an annual home warranty policy. These policies can run from $350 to $500 a year and offer
extremely valuable options.
The way most of these policies work is that if you have something break, such as your garage door,
dishwasher, air conditioner, etc., for a minimal fee, usually $50 to $100, a serviceperson will come to
your home to fix the item.
Best of all, if you have five things broken and the same serviceperson is qualified to fix all of them, you
are still charged the $50 to $100 fee once, not five times. For your automobile, you might look into
purchasing an extended warranty. If you ever need either one of these policies, they will save you
tremendous value.
Contributing to employee stock options or a 401K plan is a wonderful opportunity to save. Most
companies will match your contribution, sometimes dollar for dollar, up to a maximum, generally 6%.
From each paycheck, you can have a small amount of money deducted (1%) and up. Over time, that
money grows and since the business is providing a match, you get free money.
Look for hair styling shops that offer family deals or learn how to cut hair yourself. Many families take
care of their own haircuts and put the money they would have spent aside as a vacation fund. This
system works out perfectly.
Make sure the thing you want to spend your money on is a "need" and not a "want." Sometimes this
can seem like a fine gray line but if you stick to the need list, you will spend less.
I know one guy who used to say "If I still want it in 3 months time then I'll get it".
9 times out of 10 in 3 months time he found that either he or his children had forgotten about that
particular want and therefore had saved themselves from wasting money on an impulse buy.
With interest rates being so low, consider refinancing your home and/or securing a debt consolidation
loan. You might have to come up with a new closing cost but once paid, you will have lower payments,
better terms, and save thousands of dollars over the years.
When buying food, try some of the generic items. Unless you or your guests are connoisseurs of fine
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UTSTANDING MONEY SAVING TIPS43. P
ROPER MAINTENANCE44. C
OMPANY STOCK / 401K45. F
AMILY HAIRCUTS46. W
ANTS VERSUS NEEDS47. R
EFINANCE48. G
O GENERIC[ 16 ]
dining, they will not know if the green beans were generic or a top name brand.
Once you add some butter, salt, and pepper, no one will know the difference except you - $79 per can
versus $33 per can!
People do not realize that many generic brands are actually manufactured by name brand companies,
just branded with a different name. In fact, companies such as those that make snack foods will have
conveyor belts that run side-by-side – one for the name brand and one for the generic brand.
This is quite common and the only difference is the label and price.
As you shop, if you notice that a brand you and your family use on a consistent basis is on sale for a
great bargain, stock up. As an example, if you use a particular type of shampoo costing $4.50 per
bottle and you find it on sale for $2.50, go ahead and buy two bottles. You should only do this on items
you know will be used.
There are many secrets relating to saving money on clothing. As a perfect example, rather than buy a
matched suit for $450, buy the pieces separate. This will save you about $100 to $150. Additionally,
buy several pieces that can be mixed and matched, giving you six outfits out of four pieces.
In some larger cities, car pooling is required in order to reduce smog. However, regardless of where
you live, car pooling can also be a big money saver. Check with co-workers and determine who lives
close enough to share a ride. By the end of the year, you will have saved several hundreds of dollars.
Most people only think of the savings in petrol however there is big savings from the wear and tear of
your car as well so therefore saving on maintenance costs and new tyres.
Most people love to dress in the most up-to-date fashion but for those fashions, you pay big bucks.
Consider dressing with basics and then emphasis them with trendy accessories. This will save you
money on the clothing that is less expensive while allowing you to dress it up.
If you are tired of being bored, you will be pleased to learn that there are hundreds of things to do that
do not cost a dime. For example, if you want a little Friday or Saturday night excitement, sign up at your
local police department for a "ride-a-long" where you can go on duty with an officer as they respond to
real calls.
Community colleges are always offering free exercise classes, or coffee shops have poetry readings.
Entertainment and having fun does not have to cost anything. Some cities have special areas that are
popular on the weekends where you can find free concerts. Check your local paper and college to get
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UTSTANDING MONEY SAVING TIPS49. S
TOCK UP50. S
HOPPING FOR CLOTHES51. C
ARPOOL52. T
RENDY FASHION53. F
REE ENTERTAINMENT[ 17 ]
a list for your area.
First, shop around for the best deals. Second, stay away from all the fun bells and whistles and just
stick with the basic plan. Some people have turned to shutting down their home telephone and are
now using their mobile phones in place.
Since most wireless carriers offer free long-distance, call waiting, call forwarding, caller ID, voice mail,
and more, it can do the same as a regular phone but for less. Why have two phones when you can
have just one?
Most people stick with their current telephone carrier despite the fact they cost much more then some
of the alternatives.
Before rushing off to see the doctor for a sore throat, try some home remedies or over the counter
drugs instead. For a sore throat, butter mixed with ginger and sugar makes a soothing healing pate. A
hot toddy before bed is great for a cold. Simply ask your family for their home remedies and try it.
Sometimes a simple over the counter medication or herb will do the trick without costing you an
expensive doctor's office visit.
For every payment you pay late, you are charged a late fee, which can range from $25 to $50 or more
depending on the company. Therefore, if you just made a $50 payment but it was paid late, nothing
was paid toward the debt. Instead, the entire $50 went toward an unnecessary fee. To avoid spending
unnecessary money, be sure you mail your check in time to avoid these fees.
Hundreds of dollars are wasted every year from the average home due to improper insulation. Make
sure there are no drafts coming from your window, door, or fireplace. Ensure your home has the
appropriate level of insulation, which will make a HUGE difference in your utility bill.
It is always fun getting your favorite magazine or book in the mail but you should cancel them or at
least most of them. If you have several subscriptions, choose one or two to keep and cancel the rest.
To save gas, organize your day of errands so you get as much done in an organized manner as
possible. Stay in the same geographical area and hit as many of your errands in that area as possible
to avoid excessive driving.
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ELEPHONE / MOBILE PHONE55. H
OME REMEDIES56. P
AY ON TIME57. I
NSULATION58. C
ANCEL SUBSCRIPTION59. C
ONSOLIDATE YOUR ERRANDS[ 18 ]
Go through your house and pull together all the items you no longer use. These can include small or
large appliances, gardening tools, clothing, makeup, and sporting equipment, whatever you have,
and then list them on
Take the money earned from these sales and put it in your savings account not to be touched.
Everyone has a skill – find yours and turn it into money. For example, if you have a skill for
woodworking, start creating children's toys, or curio cabinets to sell. Perhaps you are computer savvy
and could teach a class at your local community college. Find something you enjoy and sell it.
Try a different type of recycling that will save you money. Have you ever received a nice gift that you
like from someone but will never use? Rather than take it back to the store for an exchange, consider
keeping it to give as a gift to someone else.
Another way to recycle is to look around your home. There are always things right in your home that
can be used to make nice gift baskets – things you never use.
For example, the next time you purchase shower gel where you buy one and get one free, keep one
for yourself and set the other one aside for future gift giving. You will find hundreds of ideas so be
creative and consider things you purchased but have never used.
Make sure vents in rooms not being used or the garage are closed. Many people tend to try to heat and
cool the entire home. Instead, take the time to close off areas that you are not using. You will save
substantial money on your utilities.
Many online businesses offer great bargains and in some cases, free shipping. Since the Internet is
such a competitive market, you can usually find fantastic deals. In addition, many of your favorite
businesses where you shop in person have websites that offer even greater savings.
Bookstores such as Amazon.com will sell books up to 70% off the original price. Overstock.com is
another online business that sells closeout items for fantastic bargains.
Rather than throw out or sell slightly worn clothing or other household items in a garage sale, consider
selling them through a consignment shop. You will get a better price for your items and consignment
shops are always looking for quality merchandise. Check out Half.com, which is an online
consignment shop offering books, movies, computer software, and much more in either new or used
condition.
eBay
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UTSTANDING MONEY SAVING TIPS60. S
ELL YOUR STUFF61. T
URN YOUR HOBBY INTO MONEY62. R
ECYCLE63. H
EATING AND COOLING64. S
HOP ONLINE65. C
ONSIGNMENT SHOPS[ 19 ]
If considering putting your home on the market, make sure you work with a reputable realtor. A good
realtor versus one that is not as experienced can be the difference of thousands of dollars.
A good realtor will know exactly what you need to do to your home to get it in the best selling condition,
which in turn will get you more money. In addition, experienced realtors know all the best methods for
advertising and selling your home while saving you the most money.
If possible, stay away from shopping malls. High-dollar shopping malls have expensive overhead and
are designed to sell, sell, sell. Prices are generally higher and in most cases, people walk out with
more than they anticipated buying.
It is better to shop at stand-alone shops or on the Internet.
Shop around for the best price. While you may have your eye on that "perfect" car and want it now, by
waiting and looking around, you could be saving yourself a lot of money. In addition, check out other
states.
If you live within a few hours drive from other cities, check out the price difference. The five hours it
takes to drive may be worth the money saved.
If you were to check your grocery or store receipt, approximately 50% of the time you would find an
overcharge. This happens all the time and in some cases, the charge can be substantial.
The same is true for credit card statements, bank statements, phone bills, etc. Check the detail
because it is quite common to find errors.
These mistakes can easily be corrected simply by asking and providing a copy of the receipt or
statement.
If you have stayed in the hospital recently, you know the outrageous charges associated with every
thing used. While you could buy a box of bandages for a small cut in the drug store for $5.00, at the
hospital, they will charge you $10 for one bandage.
While the government and insurance companies are cracking down on these charges, you should
check things closely and challenge anything that is ridiculously priced.
The same is true for your doctor. One woman having a hysterectomy was asked by her doctor if she
wanted her appendix removed at the same time.
The patient thought it was a good idea and agreed. However, after the surgery when the bill came,
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TAY OUT OF THE MALLS68. C
AR SHOPPING69. C
HECK RECEIPTS AND STATEMENTS66. S
ELLING YOUR HOME70. C
HALLENGE THE DOCTOR / HOSPITAL[ 20 ]
there was an additional $1,200 for the removal of the appendix although the doctor never mentioned
an extra charge.
The woman called her doctor to discuss and the doctor removed the charge. If something seems way
out of balance, question it.
Something else that most people do not know about is what is called "professional courtesy." If you are
having financial difficulties, you can ask your doctor if they will write off any balance owed as a
professional courtesy.
Many will and if not the full amount, at least some.
Almost everyone has at one point or another had an insufficient check. Most banks charge $20 per
returned check, which if not careful with your account, can quickly add up to a lot of money.
If you have a savings account, consider adding overdraft protection onto your checking account so if
you ever go into a negative balance, the money would automatically be covered by your savings. Most
banks offer this service free.
Make sure you work with a qualified banker that can set up the "right" kind of account for your type of
spending. There are numerous options specifically designed for people that write a good number of
checks versus those who do not.
Check with your existing bank to ensure you have what you really need and if they are not willing to
work with you, change banks. In general, credit unions are good options. Their rates are typically
lower and because they are employee owned, you can find better options.
You may be wondering what being organized has to do with saving money but in reality, it has a lot to
do with it. For example, if you miss a credit card due date by one day, you will be charged anywhere
from a 15% to 25% penalty.
The same would be true for taxes. Missing one simple date can cost thousands. You need to be
organized so you know the exact dates your bills are due as well as keep all receipts, contracts, etc. in
an orderly manner.
You need to make sure you take care of yourself physically. Missed dental cleanings (every six
months) can lead to gum disease or tooth decay that can cost thousands to fix.
The same is true for your health. After trying home remedies or over the counter medications, if you
still do not feel well, see a doctor. It is far better to pay the doctor visit than to let your simple summer
cold turn into pneumonia.
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VERDRAFT PROTECTION72. B
ANK ACCOUNTS73. O
RGANIZATIONS74. G
OOD HEALTH[ 21 ]
Keep your car oil changed, tires rotated, and overall care up-todate. First, the $30 for your oil change
will save wear and tear on your car, which could result in significant money.
Second, you need your car to get to and from work. By not having your car in top working condition
could put you in a bad position when it comes to required transportation.
While Paris, England, or Germany offers excitement, they also cost money to visit. Unfortunately,
people on a regular basis forget about the United States and even the very state in which they live.
One man had lived in Arizona his entire life. At age 50, when asked by a friend what the Grand Canyon
was like, he was unable to answer because he had never been there.
The next time you get ready to plan your family vacation, look around where you live and consider an
exciting road trip that will not only be educating but cost effective. A vacation does not have to be
expensive to be fun and memorable.
Make a list of all annual maintenance items for your home such as air conditioner, heater, hot water
heater, etc. Once again, being prepared and working in a proactive manner can save you
unnecessary expenses.
If you take care of your air conditioner by getting an annual tune up then you lower the risk of
something going wrong during the hot summer months when it will be quite costly to repair.
Unless you have an emergency, avoid those enticing advertisements to lend you money at incredible
rates.
Banks and lending institutions make it much too easy to borrow money and especially during the
holidays, they flash all their great advertisements drawing people in.
Afterwards, you have borrowed money that you could have done without and now you are locked into
a five-year repayment contract. If you want a new car or boat, it is better to save.
If you do need a new car, avoid brand new cars, which lose massive amounts of depreciation the
minute you drive off the lot.
Instead, look for something a year or two old where you will still have a nice car but much more in line
with an appropriate cost.
Instead of spending $1,000 on that beautiful new couch, you might consider one of two options. If your
couch frame is still good, you might spend $300 to have it recovered or purchase a quality slipcover for
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ACATIONS77. A
NNUAL MAINTENANCE75. A
UTOMOBILE CARE78. B
ORROWING MONEY79. R
EPAIR VERSUS REPLACE[ 22 ]
$100.
Your couch will look brand new for much less, than it would to replace.
Another example would be if you have a lamp that you want to replace. Consider painting it and adding
a new shade rather than spending money to buy a brand new one.
Perhaps you have a washer, dryer, or refrigerator that is running a little sluggish. Find out the cost of
repair over that of purchasing a new one.
Even if you have an appliance with the wrong color, businesses offer fantastic paint jobs. With a little
creativity, you will be amazed at how much can be repaired, thus saving you money.
Plus why not make some money from the same thing? Pretty up old lamps and sell them.
Eating out can be expensive. Rather than stop eating out, simply cut back and look for options of twofor-
one. Restaurants of all calibers offer weekly specials and if you check in your Sunday paper, you
can often find special bargains.
You might even think about signing up as a Mystery Shopper on the Internet where you can eat at fine
restaurants free or at a huge discount just for writing a report on the food, service, and cleanliness.
Although it will take some time initially, after you have planned a week's menu once, it will become
much easier and best of all, it will save you money.
Knowing exactly what you will be making helps you to shop for foods that can be used more than once.
As an example, if you are going to have spaghetti on Tuesday, you could buy bulk ground beef at a
better price and then use the other half for tacos on Saturday.
Another option would be buying round steak where one night you fix Salisbury steak and then a few
days later, you use the leftovers for breakfast hash.
This will help you stretch meals and avoid last minute or impulse buying.
If you are married, make sure you and your spouse are working on the same agenda. If one is trying to
save money while the other is busy spending, what is the point? When you work as a team, you can
encourage each other to keep on track with your saving.
In order to keep on track with your debts and credits, you need to use some type of software such as
Quicken or Quick Books. This will keep you focused on your goals and tasks while you strive to
achieve them.
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INING OUT81. P
LAN MENUS82. C
OORDINATE EFFORTS83. C
OMPUTER SOFTWARE[ 23 ]
Additionally, rather than buy software programs to download, first check or
to see if there are free versions to download.
Learn how to enjoy life and nature rather than possessions. The next time you feel like spending
money, head to your local park where you can enjoy the warm sun, green grass, and towering trees
without spending a dime.
Being happy in life is far better than buying item after item. Having an inner peace is better than having
a house filled with "things."
That does not mean you cannot enjoy some of the finer things in life it just means learning how to be
happy with yourself and not "things."
The quickest way to get in debt is to live beyond your means. Sure, most people want more than they
have but life is not all about spending money.
Be thankful for what you do have and learn how to enjoy the financial position you are in. This is where
your budget will help identify the amount of money coming in against the amount of debt going out.
Rather than spending money just for the sake of spending, change the amount of deductions you
have taken from your paycheck for your 401K or stock options.
This is especially great if your company offers a competitive matching program. Increasing the
amount you have deducted can quickly add up to a nice savings and is especially nice for retirement.
Many banks and financial institutions offer a Christmas Fund program. This is an excellent way to put
aside some money for your holiday shopping so you do not end up with a ton of spending.
With these programs, you do not even miss the money and better yet, less stress around the holidays.
Home videos and DVDs are hot items and perfect for any family entertainment. Now you can visit the
major video chains and purchase previously viewed videos and DVDs for about half the cost.
For example, at Blockbuster, you can purchase either one and get a 30-day warranty. This is still a
wonderful way to have quality entertainment for a terrific savings.
Another great option is to record your own movies either from TV or any of the popular cable channels
such as HBO, Showtime or Disney.
Rather than hitting the theater every weekend, make it a special occasion. Instead, pop your popcorn,
Download.com
Freeware.com
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IFE SATISFACTION85. L
IVE WITHIN YOUR MEANS86. A
PPROPRIATE DEDUCTIONS86. C
HRISTMAS FUND87. C
HRISTMAS FUND[ 24 ]
grab a soda, spread out a blanket, and create your own theater-type atmosphere.
Invite friends over for dinner as a potluck. People love sharing their favorite recipe and by splitting
dinner, everyone enjoys variety while saving money. In fact, make this a tradition amongst your
friends.
Rather than spend a small fortune in long distance, contact friends and family via instant messaging
on the Internet. In addition, you can download a program that will allow you to connect a microphone
and actually have a voice conversation free.
All you pay for is the normal price of your Internet connection, which generally runs from $9.95 to
$21.95 a month. Either option allows you to have real-time conversations for no extra money.
If you do plan to use long-distance calling, shop around for the right carrier and be sure to read the
small print. Even if you like your current carrier, you might be able to find an equally liked carrier for less
money.
Long distance is a very competitive market so deals are easy to find. The same would be true for your
wireless carrier. The plans range vastly from one carrier to another so check out all your options for the
best one.
Do not forget to look at the coverage area. If you choose a carrier that does not have the right coverage
for your area, even if the price is better, there is no savings if you cannot send or receive
If you do plan to use long-distance calling, shop around for the right carrier and be sure to read the
small print. Even if you like your current carrier, you might be able to find an equally liked carrier for less
money.
Long distance is a very competitive market so deals are easy to find. The same would be true for your
wireless carrier. The plans range vastly from one carrier to another so check out all your options for the
best one.
Do not forget to look at the coverage area. If you choose a carrier that does not have the right coverage
for your area, even if the price is better, there is no savings if you cannot send or receive calls.
When you grocery shop, look for bargains on items that can be frozen. Most people do not even think
about shredding block cheese and freezing it.
Did you know that you could even freeze eggs?
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UTSTANDING MONEY SAVING TIPS88. P
REVIOUSLY VIEWED89. D
INNER GUESTS90. I
NSTANT MESSAGING / MICROPHONE91. L
ONG DISTANCE CALLING92. F
REEZE FOODS[ 25 ]
You can as long as you give them a little room to expand. When ready to use, simply set them out at
room temperature. If you find apples on sale, make your own apple pies and freeze them or make
applesauce.
Many food items can be frozen with no problem. Therefore, the next time you see a great bargain think
about freezing. (Dairy products other than cheese do not generally freeze well).
Instead of spending your money on overpriced items at the ball game, take your own cooler of food.
Some professional stadiums no longer allow this so check before going. If you have a son or daughter
that plays little league or soccer, this is a great way to save money over paying high concession stand
prices.
Purchase a discount coupon book, which generally costs around $25. As long as you use it faithfully
and base your choices on options featured in the book, you can save hundreds of dollars. These
books are great for restaurants, hotels, car rentals, and tons of entertainment and provide great
variety and even better discounts.
Instead of buying expensive baby food, make your own. You can use fresh vegetables such as peas,
green beans, or corn, run it through the blender, and then freeze individual servings in ice cube trays.
When it comes time to feed the baby, simply pop out a cube of food, defrost, and you have instant food.
This is a real time and money saver.
Most foods can be frozen. In fact, if you make family foods like spaghetti or soups simply make a
smaller portion with less salt and spice, puree, freeze just like the vegetables.
This is probably the hardest habit to break but in addition to saving your health, you will also save
money. Cigarettes have become quite expensive and if you can quit smoking, you will enjoy breathing
easier and having more to put away for a rainy day.
When you shop, always keep your eyes open for rebate programs. Although filling out the forms and
clipping the UPC codes from a box is a hassle, the money you save is worth it.
One to three days after a holiday, stores mark their holiday items from 50% to 75% off. This is an ideal
way to stock up on next year's Christmas or Halloween decorations. This is true for stores that sell
seasonal clothing as well. Shopping for jackets or sweaters in the summer will provide you with great
deals.
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UTSTANDING MONEY SAVING TIPS93. B
ALL GAMES94. D
ISCOUNT BOOKS96. S
QUELCH THE SMOKING97. R
EBATE PROGRAMS95. B
ABY FOOD98. S
EASONAL BUYS[ 26 ]
Keep a jar or some type of container handy and each time you come home, drop in your change. Every
time you break a bill, put the change in your container. You will be amazed how quickly your money will
build.
Most have no shipping charges and the ones that do are minimal. By filling out a few forms, you will
receive sample size soaps, lotions, shampoos and conditioners, etc., which are ideal for the traveler.
It is important to have an understanding of money. Keep a journal where you can see your successes
when it comes to saving money.
This is a difficult task and takes time to learn but worth it. By keeping a list of the situations or ways you
have saved money in front of you, you will be encouraged to keep going.
These successes can be small or large.
For example, if you normally buy your lunch, costing you from $5.00 to $7.00 per day and one week
straight you packed your own lunch for $3.00 per day that is a success. If you wanted to buy a new
dress but held off until it went on sale, saving 50%, that is another success.
Saving money requires some investigative skills, desire, determination, and creativity. Once you get
in the habit of saving money, you will feel better about yourself and enjoy life much more without debt
hanging over your head!
Hopefully these tips will help you plug some of those big money leaks and I'm sure just by thinking
about it you will think of many more ways to save money in your own life.
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UTSTANDING MONEY SAVING TIPSBusinessSummaries.com is a business book summaries service. Every week, it sends out
to subscribers a 9- to 12-page summary of a best-selling business book chosen from among the hundreds of books printed out
in the United States every week. For more information, please go to http://www.bizsum.com.
ABOUT BUSINESSSUMMARIES
99. Pocket Change
100. Freebies
101. See Your Successes
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