Showing posts with label 101 Tips eBook. Show all posts
Showing posts with label 101 Tips eBook. Show all posts

Sunday, December 14, 2014

Tip 66: Take good care of your teeth

Tip 66: Take good care of your teeth

Taking care of your teeth doesn't cost much compared to the cost of dental work that you’ll need if you don't.  It is a good investment to spend a little money to keep a good toothbrush, toothpaste, and dental floss on hand.  Dental check-ups and routine fillings and other dental work cost money, but if you don’t keep up it will cost even more money if worse problems develop.  If you're lucky, you can use your dental coverage to pay for most of your dental check-ups and cleaning appointments.  Chewing sugar-free gum is also good for your teeth, and helps you avoid eating snacks that may not be good for you.  Drinking tea is also said to be good for your teeth.

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Tip 67: Grow your own food in a vegetable garden

Tip 67: Grow your own food in a vegetable garden

As I remember it, most of what we ate when I was a kid came out of our vegetable garden.  We always had big vegetable gardens, especially after we moved out to the farm.  During the summer and fall we had fresh vegetables all the time.  We had so many that we would sometimes sell vegetables at Farmer’s Markets.  We had hogs and chickens on our farm so we always had fresh meat, too.  My Mom would can and freeze vegetables to save for winter.

A little investment to start a garden in the spring can turn into a lot of vegetables during the summer and fall.  Even a few tomato and zucchini plants can produce a lot if you don't have much space.  Some years, we have had large vegetable gardens and for a few years we had more than one garden.  Lately we have had smaller gardens in raised beds.  Since we moved, I’ll have a chance to start a new garden soon.  Since I no longer have a rototiller, I will probably start small and see what I can do with a small space.

When we lived in town, I saw some house with very small yards that had a few tomato plants in small raised tubs.  Some houses had small raised beds that were like tables with sides on them that were filled with soil.  In just a few square feet, they had some nice looking vegetables growing.  It seems that you can almost always find a space to grow some vegetables and grow some food for almost free.

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Tip 68: How to cut expenses quickly in a financial emergency

Tip 68: How to cut expenses quickly in a financial emergency

What can you do to cut your expenses quickly in a financial emergency?  Maybe you just found out that you lost your job or that you have a big unexpected expense.  What can you do quickly to survive with less cash?

Here are some actions to consider quickly reduce your spending:
* Sell a car
* Cut your newspaper
* Cut cable TV or satellite TV
* Cut internet service (use cell phone data plan instead)
* Cut kid's activities (piano lessons, sports)
* Cancel travel for vacation and family events
* Stop eating out, stop going out to movies
* Sell any expensive toys that you have and are making payments on such as boats, travel trailers, and campers
* If you are renting a storage unit, empty it out and stop paying
* You may be able to arrange to "skip a payment" on some of your credit cards and loans.  You'll still pay the full amount, plus interest, but this will give you some time to get stabilized again.
* Sell unneeded items at a garage sale or take them to a consignment shop to sell
* Take credit cards out of your wallet and go with cash only.  It is psychologically harder to spend cash and you will be painfully aware of how much money is leaving your wallet.
* There are also lots of things you can do to make some money quickly.  I am focusing this book on spending less money, I plan to cover easy ways to make money in a future book.

The strategy to deal with a sudden drop in available cash is to quickly reduce you spending to compensate.  This list should provide some ideas on things that you can move on quickly to reduce your spending to have more money available to deal with basic needs.  Depending on your situation, you may also want to look at finding another job or otherwise increasing your income.

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Tip 69: Carpool to save on vehicle expenses

Tip 69: Carpool to save on vehicle expenses

Years ago, my wife and I had one car between us.  I used a carpool to get to work so she could use the car most days.  A carpool is an inexpensive way to get to work since you are sharing expenses among several people.  Some employers help organize carpools and subsidize some of the costs.

The downside of a carpool is that you have to come and go on someone else's schedule.  A few times I had to leave meetings before they were finished- otherwise I would not have a ride home.  One morning, I started walking the 4 miles from my house to the carpool site at 5am before the sun came up.  I was walking along the road in complete darkness, I was wishing I had thought to bring a flashlight with me.  Driving your own car is certainly more convenient, but it is more expensive as well.

If you are willing to give up some convenience, you can save a lot of money by using a carpool.  If you can avoid owning a car altogether, you can save on the cost of buying the car, insurance, and maintenance expenses.

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Tip 70: Keep your car clean

Tip 70: Keep your car clean

How can you save money by keeping your car clean?  For one thing, avoid buying junk food or fast food to eat in your car when you are driving.  You will save money by not buying junk to bring into your car in the first place.  You can also avoid hauling extra junk in your car- the extra weight cuts your gas mileage and it costs more to drive around with extra stuff.  Take everything out of your car that you don’t need and find a place for it in your garage.  Once you get your car completely cleaned out, it is easier to keep it clean since any junk looks out of place.  Make a habit of taking any garbage or unneeded items out of your car whenever you get out.  It is a lot easier to do a little bit of work each time you get out instead of letting junk accumulate to the point where cleaning out your car becomes a project.

Save money by keeping the outside of your car clean too.  If you keep your car washed, even in wintertime, you can increase the life of the body of your car.  If your car is rusty and looks terrible, you may be tempted to buy a newer car before you really need to replace your car for mechanical reasons.  You can wash your car for almost free at home with a hose and some soap.  Sometimes I use special carwash soap, buy a little laundry soap seems to work fine too.  I try hand wax my cars in the fall and spring to help protect the finish.  I also try to apply touch-up paint to any chips in the paint a couple times a year to try to prevent rust.  Eventually, rust will win the battle, but I try to hold it off as long as possible.

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Tip 71: Try not to move

Tip 71: Try not to move

By this, I mean moving from one house to another...

Moving is expensive in both time and money.  You need pack up all of your things, clean up your old house, transport everything you own to a different location, unpack it all, and figure out where to put it in your new house.  My last move was a local move and it cost around $2,000 for the moving truck and movers.  This was after we moved a lot of the boxes and small stuff ourselves.

In my experience, it takes a few months to really get everything organized after a move.  If you buy another house, you may start over again with a new mortgage that will push out the date when you will have your house paid off.

Sometimes you need to move if your job changes or if your family grows and you need more bedrooms.  I think moving is often a better idea than trying to build on to a house, depending on your location and situation.

I think we could have saved a lot of money over the years by making fewer moves.  In addition to moving expenses, when you sell a house, you end up paying around 7% commission to the real estate agent in most places.  This can quickly eat up any increase in your property value.

If you want to save the most money, you would likely be better off buying a house and living there many years until it is paid off.  With this approach, you would not have to pay real estate commission when selling your house, and you would avoid moving expenses altogether.

As I mentioned, we have moved several times.  I have enjoyed every place we have lived, and the traumatic process of moving creates some vivid memories.  Moving is expensive, but can be worth the expense.  You’ll have to decide if you want to have a single place you and your family know as home, or if you want to spend more money and have more of an adventure living in some different places that you call home.

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Tip 72: Use old clothes for rags

Tip 72: Use old clothes for rags

Old T-shirts, sweatpants, and sweatshirts make great rags to use for cleaning and when working on your car.  Use scissors to cut the rags up into convenient sizes and put them away for when you need them.  I recently had my son help me cut up rags from old clothes.  While we were working, I told him the story I read about how Lizzy Borden's father was frugal and made his rich daughters cut up old clothes to make rags, which embarrassed them.  I think Mr. Borden made the girls cut rags a day or so before the infamous events that inspired this rhyme:

"Lizzie Borden took an ax
And gave her mother forty whacks.
When she saw what she had done,
She gave her father forty-one."

Anyway, I still think cutting up old clothes to make rags is a useful thing to do.  You can save money by making rags in two ways.  First, you don't need to buy rags.  Second, rags are reusable if you wash them, so you don't need to buy paper towels.

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Tip 73: Donate unneeded items and save money on taxes

Tip 73: Donate unneeded items and save money on taxes

Goodwill Industries and organizations like it are a great place to donate used items.  They take almost anything and give you a receipt that you can use for a tax deduction to save money on your taxes.  Goodwill sells some of the items in their store and they process other items into materials that can be sold.  They also have employment training programs.
If you have unneeded items you want to get rid of and could use a tax deduction, load up your car and head to Goodwill.  I usually sell some of my more valuable items at consignment stores and take the rest to Goodwill.

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Tip 74: Buy generic- why pay for advertising?

Tip 74: Buy generic- why pay for advertising?

Good opportunities to buy generic includes food, cleaning products, and prescription drugs, too.  Generic products are often made at the same factories that produce name-brand products and are similar or the same as name-brand products.
Why would a company produce generic products that sell for less than their name-brand products?  There is a market for lower priced generic products, and companies can still make a profit selling them.  From the company's perspective, they might as well make the money instead of letting someone else make it.  Plus making more products keeps the factory utilized and reduces the overall cost of producing products due to economy of scale.
In many cases, generic products are very similar to the expensive name-brand alternatives.  Give generic products a try and see if you can save some money.

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Tip 75: Don't go grocery shopping hungry

Tip 75: Don't go grocery shopping hungry

This is a hard tip for me to follow, since I am usually hungry.  Pretty much the only time I could go shopping when not hungry is on Thanksgiving!

When you shop hungry, you are more likely to pick up junk food and expensive items.  Your will power and ability to make good decisions is impaired when you are hungry.  Your reptile brain will take over, and you may end up with cream horns and barbeque potato chips in your cart instead of the healthy items you really want to get.

Even a snack or small meal before shopping can help you avoid trouble at the grocery store.  If you want something quick and cheap, a banana can provide a lot of nutrition and make you feel full for about 25 cents.


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Tip 76: Get free checking, avoid bank fees

Tip 76: Get free checking, avoid bank fees

My bank- actually a credit union- has a program where I get free checking if I use my debit card as a credit card 10 times during the month.  Most banks offer some sort of free checking.  If you don't get free checking, you can pay $10 to $20 per month or more on fees.  It is worth some effort to keep the money in your account instead of giving it to the bank.

Speaking of bank fees, the one that bothers me most is ATM fees.  You go to an ATM to take out money, and sometimes a box pops up that says you have to pay a fee to get your money out.  For example, I wanted to take out $10 to buy some food at some food stands at a local event.  It was cash only.  My usual ATM was out of money due  to the crowds.  I walked to another ATM- this one was going to charge a $4 transaction fee.  That works out to a 40% fee to get my own money out!  Of course I didn't pay it.  The cost for the bank to run the transaction is  likely too small to even calculate accurately, yet they are charging very high fees. 

I like to keep some cash around so I am not faced with ATM transaction fees if a need for cash come up.  Also, if  you need to get money out using your debit card, it is worth the trouble to find an ATM that is in your bank's network and does not charge transaction fees.  You can also use you card to get cash at a checkout of a store as well.  You can buy an item and ask for cash when you pay with your debit card.


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Tip 77: "Bank" at a credit union rather than a bank

Tip 77: "Bank" at a credit union rather than a bank

The fees and interest rates are typically lower at credit unions than at a bank, and you get all of the same benefits and FDIC protection for your deposits.  I recently did a comparison of interest rates on deposit accounts and rates and fees charged on loans between my credit union and a local bank.  My credit union won across the board.
What is a credit union?  A credit union is a non-profit organization that provides financial services to its members.  I like the idea that my credit union is not trying to get money from me.  Check out credit unions that are at convenient locations in your area and compare their rates and services with your bank.  You may find a better deal at a credit union that can save you money on interest and fees.

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Tip 78: Turn off unneeded lights and appliances

Tip 78: Turn off unneeded lights and appliances

One wasteful thing that bothers me is when I see that someone has gone away for work and has left there outdoor porch light on.  It will run all day, burning up electricity and costing money- what a waste!  I like to check my outdoor lights before I leave for the day to make sure none were left on.

Not only to outdoor lights get left on, but too often I find lights on in an empty room.  Turning off lights that are not being used is a good way to save electricity and lower your utility bill.  Sometimes I go too far and accidently turn off lights when someone is actually in the room.  I am OK spending a little money to run lights if there is someone in the room.  Most places, electricity costs 10 cents per kilowatt hour.  Therefore, running a 100W lightbulb costs about 1 cent.  I am willing to let this cost go if there is someone in the room.  Running lights when no one is in the room adds up over time and is an expense that is easy enough to avoid.

Another potential waste of energy is running unused appliances.  I just now got up to turn off a TV that no one was watching.  My flat screen TV uses about 300W when it is running, so it is worth the trouble to turn it off if no one is watching.  Sometimes, I even notice that the oven was left on during dinner.  I have gotten in the habit of checking to make sure it is off before starting to eat.

In addition to saving money on utility bills, you will extend the life of appliances by running them less.

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Tip 79: Can you eliminate an extra vehicle?

Tip 79: Can you eliminate an extra vehicle?

Owning a vehicle is expensive- you face depreciation of the vehicle, insurance costs, fuel costs, and maintenance costs.  If you can get away with owning fewer vehicles, you can save a lot of money.  In some places, public transportation such as busses or subways makes owning a vehicle less of a necessity.  Even in suburban areas where public transportation is less abundant, you may be able to join a carpool to work and find other ways to get around.  If you have more than one vehicle for your household, you may have an opportunity to sell one and save money.

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Tip 80: The art and science of the store return

Tip 80: The art and science of the store return

Returning things to the store is sometimes a convenient way to get money for items you later realized you don’t need or that didn't work out for you.  The rules that stores have place restrictions on returns and can make it hard to get your money back.  Here are some tips on returning items to the store that you might think couldn't be returned.

When I was moving out of a house, I found some project items and building materials in the attic for projects I never got around to doing.  There are a few ceiling lights and things like this.  Although they were purchased several years ago, they were still new in the box.  I decided to try to return them to the store.  Of course, I no longer had a receipt.  I was pleasantly surprised to see the items ring up and I received a gift card for store credit for the full price of the items.  I was probably better off not having a receipt- most receipts for returns expire after 6 months anyway.  So the lesson here is that if you have new-in-the-box  unused items, you might as well try to return them.  Someone else can use them, and you can get a full refund, even if it is in the form of a gift card.

Another successful return was my cherry tree.  I bought a cherry tree at Lowe's in the spring and planted it in my front yard.  Trees from Lowe's have a 1 year guarantee, and I put the receipt in a safe place, just in case.  The summer was extremely hot and dry.  Even thought I watered the tree a lot, it dropped its leaves in August which is at least a month early.  I decided to give the tree a chance to come back the following spring before returning it.  Unfortunately, it did not leaf out in the spring and was completely dead.  I decided to take the tree back to exchange it, but during the year that had passed, I forgot where I put the receipt.  I should have kept it in the box with all of my other receipts, but for some reason I tried to put it somewhere special and lost track of it.

It took some serious effort to get a refund for the tree without a receipt.  The tree still had the tag on it, but they would not do a refund without the receipt- too many problems with returning trees to a different store is what one clerk told me.  I ended up bringing the tree in several times and explaining that I had a hole in my yard and that I wanted to get a new tree started.  No luck.  There was a way to search records for the purchase, which we attempted, but they needed the date of purchase which I did not have.  I was beginning to worry about the 1 year limit on the guarantee expiring.

After several weeks of working to return the tree, I walked into Lowe's with the dead tree and a shoebox full of receipts from Lowes.  Of course, I did not have the receipt for the tree, but I had tons of other ones from years of shopping there.  My point was that I was a regular customer at that Lowe's store location, and I had a tree with Lowes tags on it that I was trying to return.  I asked to see the store manager to go through my situation and the receipts with him.  The clerk recognized me and called the store manager.  After a brief exchange, they offered me a gift card with the full price of the tree.  I happily headed back to the nursery to pick out a replacement.

There are a few lessons to take from this story:  1) keep track of your receipts, 2) if you are returning something under warranty, don't wait until the last minute, and 3) persistence often pays off when trying to return something.


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Tip 81: Discount programs at grocery stores

Tip 81: Discount programs at grocery stores

One grocery store discount program I like is HyVee Fuel Saver.  When you buy certain items, you receive a discount for gas at Caseys or Hy-Vee gas stations.  For example, if you buy pumpkin bars, you might save 3 cents per gallon on gas.  The items that qualify vary all the time.  Since my car takes around 10 gallons to fill up, I can quickly estimate my savings if I buy a fuel saver item.  You can save money with the Fuel Saver program- the trick is not to buy things you would not normally buy.  I will sometimes substitute an item to get a discount- for example I might buy the pumpkin bars instead of cinnamon rolls to get the discount, but I don't buy more than I normally would without the Fuel Saver program.

The amount you can save depends on how many Fuel Saver items you buy.  I have received discounts of around 20 cents per gallon at times.  If you shop at Hy-Vee a lot, you can save some money on gas.  We buy some of our groceries at Walmart, which has lower prices but is a less pleasant place to shop and has less variety of some types of food items.

If you don’t shop at Hy-Vee or don’t have Hy-Vee in your area, see if you can find a different fuel discount program in your area that can save you money.

Another grocery store discount program I use to save money is a rewards program at an independent grocery store that is near my house.  You get a membership card to scan whenever you make a purchase and get points that you can use to get free grocery items each month.  One thing I like about this program is that you get points for everything you buy.  This differs from Hy-Vee fuel saver which only gives points for selected items.  Each month there are about a dozen or so grocery items that you can use rewards points to get free.  One month, you could get free orange juice and I did that several times.  This month, nothing looks appealing to me, so I’ll save my points for next month.

The price for saving at the grocery store with rewards programs is convenience and privacy.  The grocery store gets to track what you purchase and when.  This does not bother me that much, but you’ll have to decide for yourself whether privacy is a concern.  If you make your purchases using a credit card or check, it would be easy for the store to track your purchases anyway.  As for the convenience factor, you need to remember to bring your rewards card and have the cashier scan it every time.  This is not a problem for me- I just keep my Fuel Saver card and my grocery reward club card in my wallet so they are always ready when I buy anything at the grocery store.


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Tip 82: When to apply for a credit card to save money

Tip 82: When to apply for a credit card to save money

Sometimes you can save money by applying for a credit card.  We recently found a refrigerator that we liked and had been looking at it for a few months.  One weekend, it was on sale for $500 off and we decided to buy it.  I have plenty of credit cards, but Lowe’s had an offer that sounded pretty good.  If we applied for a Lowe’s credit card, we could get 10% off our purchase and get 0% financing for 6 months.  This was enough savings that I thought it was worth applying for a new credit card.  With the sale price and discounts, we saved around $800 from the original price.  I also will get 5% off every future purchase at Lowe’s using the new credit card.

I have also taken up offers to get credit cards that did not pay off as well as the immediate benefit from my new Lowe’s card.  One time I had loaded up on clearance winter clothes at Sears in the early spring.  They were selling Dockers dress shirts for $5 each and other great bargains.  I used my Sears Gold card to save an additional 5% off and then applied for a new Sears Blue card to save even more.  I ended up getting clothes for 90% off the original price!

Take advantage of offers to get new credit cards when you can save money on something you are planning to buy anyway.  If you pay off your credit card balance every month, it won’t cost you anything and you can save some money.


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Tip 83: Fun night at home

Tip 83: Fun night at home

There are a lot of bad things said about watching TV and playing video games at home.  On the bright side, this can be very cheap entertainment and a way to spend time with your family that doesn’t cost much.
You can rent a DVD for a couple bucks, make your own popcorn, save about $30 compared with going out to the movies.  Another idea is to find a good TV series on Netflix and watch it together as a family.  One summer we watched an episode of Monk every night on Netflix.

It can difficult to find video games that everyone in the family likes to play together.  Most people can enjoy Wii games or old Atari classics.  We have a joystick that plugs into the TV and plays some old Atari games.  The games are simple and do not take a long time to play.  With Wii Sports, you can bowl at home without going out.

See what ideas you can come up with to have fun at home with your family without spending a lot of money going out.

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Tip 84: Pizza can make you happy

Tip 84: Pizza can make you happy

Pizza is cheap food, is relatively healthy, and makes people happy.  You can get a big pizza for about $10 and almost everyone likes pizza.  Get vegetables on the pizza to make it even more nutritious, and find some good pizza coupons to help lower the bill.  I like to pick up the pizza myself rather than have it delivered.

Some places charge a delivery charge, and all pizza delivery drivers expect a tip.  Plus when I bring it home, I can bring it directly home when it is as hot and fresh as possible.  A delivery driver might make a few stops along the way.

Another good thing about pizza is that it is easy to share the bill with other people since it is easy to calculate the cost per slice of pizza.   Pizza is cheap food compared with a lot of dinner options, an almost everyone likes it.

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Tip 85: Use coupons for oil changes

Tip 85: Use coupons for oil changes

I can usually find coupons at Midas for $5 off oil changes.  In fact, I just received a coupon last week for a FREE oil change at Midas.  I had some work done there, and they sent the free oil change coupon as a customer appreciation gift.

At many shops, you can also sign up for programs such as pay for 4 oil changes and get the 5th free.  This is worth doing since you should change your oil regularly to help your car last a long time.  You may be able to save a little money by doing your own oil changes, but I can find deals on oil changes that are hard to beat.  They also lube your car and check all of the fluid levels and look for cracked belts and hoses.  While your car is in the shop, you can get your tires rotated, increasing the life of your tires.

When there is a product or service that you know you will buy regularly- like oil changes- it is worth spending some effort to find good deals and coupons and even save with a quantity buy such as a buy 4, get one free program.

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