STYLE TYPE="text/css"> 1) The most important one thing you can do for yourself toward saving money is to
What to do:
Decide how much you want to save and put aside each paycheck. In order to help with this, first list all your fixed expenses such as utilities, rent/mortgage payments, car payments, credit card payments, estimate what your food costs are, or budget what you will spend on food, entertainment, etc. you get the idea. Better yet, go to (my sign up page), and sign up for a free month of mvelopes. There is no better, easier way to manage your money. More on this subject later.
Now that you have an amount that you can put aside out of each paycheck, have that money deducted from your paycheck and automatically deposited to your savings account or IRA. Use the rest for your expenses. If there is any left over, deposit that too.
There is no better way to save money than to
2)
What to do:
Purchase a water saver for your toilet, which wastes a gallon on each flush. Get it here: (Link). Just think. One toilet wastes 8 gallons of water per day based on an average of 8 flushes per day. That's about 3000 gallons per year. No wonder your utility bill is so high! You're paying for sewage costs in addition to this too. And if you have more than one toilet! And what about your neighbors? The neighborhood? The block you live on? Considering that, we're talking around several million of gallons wasted each year. And this is treated water, not recycled water. I don't know about you, but I've had nightmares about being thirsty and going to the tap and getting only a spoonful of water because just then someone flushed the toilet and that was the last of the water. Every time I think about this waste I have a sleepless night. So please, do yourself a favor and do your part so I can sleep nights. Get a water saver. (shopping cart) Tell your friends and neighbors.
3) Now back to managing your finances. Do you know where the money goes? Let me guess. I'll bet you that you can't tell me what you spent on groceries last month. If I'm wrong, I'll give you mvelopes for a month free.
Here is what to do?
If you were running a business, you'd want to keep track of expenses and income. You'd budget for advertising, wages, goods, material, etc. You'd want to know where the money goes, and how much is coming in so you could see whether you are profitable or not and plan your spending . And yet you can't tell me how much you spent on groceries last month. Isn't your personal finances as important as your business? Why not run your household like a business? Tell you what. I'll give you mvelopes free for one month. Check it out. Use it. I guarantee if you do, you will have more spending money at the end of the month. Sign up here: (Link) Follow the tutorial and the help files for assistance setting it up. It is really easy and fun. And as you will see, will have YOU in control of your finances.
4) You can save money by paying annual fees instead of making installment payments.
Take insurance premiums, for example.
Most policies have an annual fee, or bi-annual fee. They also allow smaller more frequent installments, but charge you a fee for those. There are other cases where this is so. See if you can borrow against your savings at a lower rate than the charges you would have and borrow the money to make the annual payments. Another and better way would be to make double payments, one to your bank account and one to the insurance company or whatever. Put one payment in the bank, and pay the insurance company with the other. At year's end you will have more than next year's payment. In the meantime that money has been earning interest. We will tell you later on where you can obtain the most interest. (Link)
5) Withholding tax, W-4 form. The IRS says that if you owe no tax, or will not owe any tax, you do not have to have wages withheld.
A neat trick if you can qualify. If you work overseas and qualify for the exemptions as a result, you may be able to stop withholding. But here is what you can do.
Most people claim less exemptions on their W-4 forms than they should in order to be assured of a refund at the end of the year. BAD IDEA! Here is what to do. Claim only what you can legally do to have the least money withheld. Put the difference in your savings (and to make sure, have it automatically deducted and sent to your bank). That way you draw the interest not the government. At tax time, take whatever additional you need out of savings to pay your taxes. You're money ahead. Believe it.
6) Here are several obvious saving techniques that few people follow.
Look for and use coupons, bargains, promotions, etc for all your shopping, eating out, etc.
Replace all your light bulbs with fluorescent light bulbs (except where you are using a light dimmer). For the same amount of light, flourescent lights use 1/3 the electricity. Get them cheap here: (Link)
Use a programmable thermostat. In summer, remove heat from your house at the coolest part of the day, usually around 4 AM. Program it for 70-74 from 4-6 AM. Program it for 78-80 until 10 PM. Program it for 76 from 10PM-4AM. If no one is home during the day, program it for 85 from 6AM - 1 hour before you get home. Then set it for 78-80 until 10 PM, etc. While home, wear only shorts and go barefoot. In the winter, you can survive at 55 if you wear proper clothes. I have done so, and stretched the propane out for most of the winter before requiring a refill. It was a 500 gallon tank. But you can wear more clothes and set the thermostat to no more than 65-68. You will save a lot of fuel that way. Program the thermostat from 10 PM unit 6 AM at 50-55. At 6 AM (or one hour before you get up) set it at 65-68. If no one is home during the day, program it for 50-55 until one hour before returning. You can obtain a programable thermostat here: (Link)
For purchasing items check www.pricegrabber.com. It will sort by price so you can find out who is selling that stereo you want for the best price.
Don't pay for premium fuel, buy regular unleaded. Most all car's computers are set to use regular fuel. Only special high performance cars such as Ferrari's would benefit and only if their computer was set to take advantage of premium fuel. Don't believe the hype about better performance, cleaner engine, better mileage. Face it. You car's computer is factory set for regular, and most likely will not benefit from premium fuel, and in fact, may perform worse and get less mileage. If your owner's manual instructs you to use premium, then by all means do so. Else use regular. And find a station that has the best price. Fuel is fuel. If you feel that one brand is better than another, see if the addition of one of those additives you can purchase and add yourself would be less expensive.
7) Savings accounts.
We have found the following to earn the most interest and provide the best service with free bill paying.
Click here. (Link)
8) Have you gone crazy spending? Are your cards maxed out? Are you barely able to make the minimum payments? Would you like to gain control and get out of debt?
Here is what to do:
There are many ways to consolidate your debts so that you can get out comfortably. We can work with you to accomplish this and come up with a plan to also save you money. Click here. (Link)
9) Want to enhance your income? Become master of your life? Even become financially independent?
We can help.
Click here. (Link)
