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How to Save up to $500 on Home Improvements While Helping The Environment

When it comes to taxes, we just have to deal with them as a necessary part of day to day life. After all, where would all of our public services come from if we all paid no tax?

So, contributing your share of taxes in some way helps the greater good. Of course, most of us still wouldn’t turn down an opportunity to legitimately lower our taxes, now would we? I didn’t think so.

Additionally, if you could lower your tax liability AND do something positive for the environment – might that be a win-win?

Well, if you have some purchases to make for your primary residence (as an owner of a pre-existing home), they might fall into the category of federal tax credits for energy efficiency. Based on your situation, you could get a tax credit of up to $500 for qualifying purchases.

Here’s an overview of the 2011 energy efficiency credits:

Biomass Stoves: $300
HVAC
- Advanced Main Air Circulating Fan: $50
- Air Source Heat Pumps: $300
- Central Air Conditioning: $300
- Gas, Propane, or Oil Hot Water Boiler: $150
- Natural Gas, Propane, or Oil Furnace: $150
Insulation: 10% of cost, up to $500
Roofs (Metal and Asphalt): 10% of cost, up to $500
Water Heaters (non-solar)
- Gas, Oil, Propane Water Heater: $300
- Electric Heat Pump Water Heater: $300
Windows, Doors, and Skylights: 10% of cost, up to $500, but windows limit is $200

The limit is $500, which is also a lifetime limit. If you took this credit in the 2006-2010 tax years, you’ve used it up. Also, it’s a one-time credit – you can’t buy something one year and keep claiming it year after year. The home must be your primary residence.

As you can see, there are some opportunities to save on taxes in 2011! The limit was reduced this year, as it had been $1,500 for 2010. However, despite being reduced, this credit still offers the opportunity to save money.

If you have a broader timeline, there are some tax credits for energy efficiency that expire in 2016:

Geothermal Heat Pumps: 30% of cost, with no upper limit
Small Wind Turbines (residential use): 30% of cost, with no upper limit
Solar Energy Systems: 30% of cost, with no upper limit
Fuel Cells: 30% of cost, up to $500 per 0.5 kW of power capacity

For complete details and requirements/restrictions (there are some), check out Energy Savers and consult with your own financial/tax professionals before making a purchase decision for these purposes.

Clearly, to summarize, there’s an opportunity to save some money on taxes and do well by the environment. And as we know, more money saved equals more money for retirement! Anyway, with respect to the tax credits in particular, they may not be to the level that existed prior to this year, as legislation has changed that, but there are still ways to participate and save money, which is a good thing!

3 Time-Related Factors to Consider Before Spending Money

By Squirrelers 23 Comments

We all know that there are different personality types out there when it comes to money. Some of us enjoy personal finance, others are bored to tears by it. Some of us are savers, others are spenders. For that latter group, there are even bigger risks than might meet the eye!

What I mean is that when it comes to making smart purchasing decisions than simply controlling expenses. Sure, we should make sure that income exceeds expenses, and that the more we save for retirement and old age, the better off we will be. But if we want to increase net worth, it’s important to think about how time and spending can be interrelated.

To illustrate this, let’s use an example of a hard working, responsible person out there. Let’s assume this person makes $75,000 per year and saves $15,000 after all expenses, including taxes. Saving 20% of gross income, not bad!

Let’s say she then wanted take a mini-vacation with friends, and spend $1,000. No big deal? Well, I think the impact of spending extra money might be greater than this person might realize.

Keeping in mind the income and savings of this person, let’s look at 3 things to consider before spending money.

The Time Value of Money

By this, let’s first consider the notion that a dollar today is worth more than a dollar tomorrow. Due to inflation, the purchasing power of a given amount of money will go down over time. Remember when a $1 could buy more than a gallon of gas? Maybe I’m getting old, but I distinctly recall paying 89 cents per gallon back in the 1990’s. I still remember the sign outside that gas station.

What would that 89 cents buy today? As of this writing, less than 25% of a gallon of gas. It’s not just gas that’s gone up, as we know. Food, education, clothing – you name it, it’s gone up in price. The cost of living increases over time.

Rather than spending the money, what if we saved it instead? We could actually keep pace with inflation, or if we invest well, actually see our money increase! Unquestionably, rate of return matters.

Back to the person we brought up earlier. If she saved that $100 instead of spending it, and invested it well, it could be worth more in the future. Let’s say she invests it and earns a rate of return that’s 4% more than inflation, after taxes. After 20 years, that $1,000 would be worth over $2,000 in today’s purchasing power.

Thus, spending $1,000 might really be like spending $2,000.

Hours Worked to Afford It

One of the things we can think about it is the hours worked to afford a purchase. We’ve talked about this before, and we can revisit the concept with this example.

We already said this woman earned $75,000 per year. If we assume a standard 2000 hours of work annually, that comes out to $37.50 per hour. Let’s say that after taxes, this comes out to $25.00 per hour. In this situation, that $1000 mini-vacation with friends ended up costing 40 hours of work. That’s one entire week at work, just for a vacation!

Hourly Savings Rate

Back to our friend and her vacation. If we go beyond how long she had to work for this, let’s consider that what she really had available to spend was her savings. Meaning, after all of her expenses, she had that $15,000 of savings we alluded to earlier. That $1000 mini-vacation ended up being 1/15 of year annual savings!

She would have to work almost 3.5 weeks to earn $1,000 in savings! Just imagine if she only saved $3,000 per year instead. That would be 4 months of work to save that $1,000 she wanted to spend on a vacation!

Bottom Line – when spending money on purely discretionary purchases, let’s keep in mind how hard we really have to work for it and what it can become if we invested it instead. That doesn’t mean we shouldn’t ever splurge of course, but it’s important to think of the real value of our money and our time.

My Questions for You

Do you ever think about these factors when making bigger or discretionary purchases?

Which of the three factors makes the biggest impression on you?

6 Ways to Save Money on Vacation

By Squirrelers Leave a Comment

The following post is from Melissa Batai

Ah, summer is here! With it comes a more relaxed schedule, more time with the family, and hopefully, a summer vacation or two. However, if you’re traveling with kids, summer vacation can quickly become very expensive. Luckily, there are many strategies to lower the expense of summer vacation.

Travel in the Off Season. If your schedule is flexible, consider traveling in the off season. If you want to travel in the summer, consider visiting hotter locales such as Arizona or Florida. These places are bustling in the fall through spring with tourists, snow birds, and college students, but most travels don’t want to come in the summer because of the intense heat. This could mean cheaper rates for you. Colorado ski resorts are another location where you can see great deals in the summer.

If you want to take a trip to the beach, why not wait until after Labor Day? You’ll still likely have warm summer days to enjoy the beach, but you’ll probably get a much lower rate because the tourists will have gone home.

Consider Staying at a VRBO. VRBO stands for vacation rental by owner. Basically, a VRBO is a house, condo, townhouse, or sometimes even private boat (popular in Boston) that you stay in instead of a hotel. If you’re traveling with a family, many VRBOs offer you more room and a cheaper price than a hotel. Plus, you’ll have amenities like a full kitchen and often a washer and dryer.

Cook Your Own Food. If you do stay in a VRBO, take advantage of the kitchen and cook a few meals yourself. This can save you a significant amount of money. If you don’t want to cook (understandable!), consider buying ready-made food at the grocery store, which is cheaper than taking the whole family out to eat. You should still enjoy a meal out, but only do it once a day, or a few times during the trip to enjoy maximum savings.

Get Groupons. Before you travel, subscribe to the Groupon site for the location your visiting. Then, check daily what deals are being offered. You could snag significant discounts on restaurants, tourist attractions, museums, etc.

Order Tickets Online in Advance. Many events and places you want to visit offer small discounts if you purchase your tickets in advance online. The savings is usually just a few dollars, but if you are visiting several sites with a family, the savings can add up. You just want to make sure your plans are firm before buying the tickets in advance online.

Order Tickets Grouped for Multiple Sites You Want to See. Some larger cities offer tourist packages. You can buy a ticket package for three to seven sites that you’ll want to visit. Because you buy the tickets in a package, you’ll get a cheaper price on every single ticket. Some cities also offer passes which give you the ability to visit several places during a certain number of days. You get to choose which locations you want to visit.

Family vacations can be a great way to bond and see new sites. With these strategies, vacations don’t have to cost as much.

What are your favorite strategies for saving money on vacation?

Smart Ways to Save Money on Coffee

By Squirrelers Leave a Comment

Coffee lovers and addicts who absolutely cannot live without coffee spend a lot of money for several cups in a day. A number of cafes with vivid themes are emerging in every nook and corner which are filled with a lot of customers due to the essential need of coffee. Every coffee drinker has a specific type, need and strength of coffee which can be easily found in any café. But this everyday need can be very expensive and can fill a hole in your pocket. There are several ways through which you can definitely save a lot of money on your daily requirement of coffee and enjoy the same taste and strength several times in a day.

Ways to Save Money

Buy a Coffee Maker

Buying a good coffee maker is definitely the wisest option in trying to save money on coffee. Possessing a good coffee maker will not only save money but it will also hand you several cups at a time within minutes. Buying coffee from a café will cost you double price, and brewing coffee at home will cost less than half of the money spent on coffee from cafes and restaurants. Imagine immediately waking up to the fresh aroma of brewing coffee and a hot, steaming cup of your favorite flavor.

A good coffee machine can be purchased in around $50, which is an affordable price. You can also pre prepare your coffee for further use during the day and the seals in the machine keep the coffee fresh and warm. Thus, there are several advantages in possessing a good coffee machine, the most important being the expenses, rather than rushing to the cafes now and again. It will save you a lot of time along with the money. You can find some greatest machines here.

Order Smaller Sizes

If you are usually out working or traveling, it is advisable to buy coffee from cafes but in small quantities. Drinking a lot of coffee can load up the caffeine content in your body which is harmful in many aspects. Try to avoid larger quantities of coffee which will be helpful for your health as well as expenses. Smaller quantities or cups of coffee usually cost less and they are ideal for constant traveling.

Saving a few bucks daily can help you manage your budget at the end of the month, through which you could add to the purchase of coffee during the next month.

Reusing Coffee Grounds

This simple yet effective trick can help you save a lot of money in the long run. Adding 50 percent of fresh coffee grounds to the used grounds can prepare the exact taste and aromatic coffee that you desire. This will help you save on the coffee grounds without compromising on the taste.

Join Coffee Clubs

There are several interesting coffee clubs online which are joined by enthusiastic coffee lovers. People buy coffee from the clubs through which they can save a lot. There are several ‘coffee of the month’ deals which can also help you to manage your budget.

Find Feasible Deals Online

There are many deals online on sites such as Groupon, Google offers and many others. Buying these coupons or offers can save a lot of money on machines, coffee grounds, filters, K cups and mugs. Stay active especially on holidays because it can fetch you a major amount of discount and vouchers.

8 Ways to Save Money on Groceries

By Squirrelers Leave a Comment

The following post is from Melissa Batai

Have you noticed that each month, your groceries cost more and more? I have. At first I blamed it on my 12 year old who eats everything in sight, but he’s not the only factor. Groceries just cost more now, and many American families are feeling the pinch.

However, there are plenty of ways you can arm yourself and protect your wallet. These are some of our favorite strategies (and almost all don’t require coupons):

Menu plan. Make a menu plan for however many dinners you will eat at home. Don’t feel like you have to fix one on a specific date. Just have a list of the number of dinners you want to make that week and fix the one that you would like each night. Great spots to find recipes include Pinterest, Food.com, and even just generic Google searches.

Utilize foods that are on sale. Each week, I look through our pantry, freezer, and the grocery store ads before I menu plan. I try to choose recipes that use those ingredients. When broccoli is on sale for .98 cents a pound, several of our meals include broccoli.

Join Costco or Sam’s Club. A word of warning—if you don’t stick to your list, these stores can COST you money instead of saving you money. We have a list of specific items that we buy at Costco that are cheaper than we can find anywhere else. Our favorites include organic lettuce, organic mixed greens, a 10 lb. bag of organic carrots, frozen fruit, chips, and olive oil, to name a few. Notice that even though I’m buying some organic items, I generally find these cheaper at Costco than I can find conventionally grown at the grocery store.

Shop at discount grocers. If you have one near you, try shopping at Aldi or Save-a-Lot. These discount grocers offer rock bottom prices and no-frill shopping. Yes, you’ll need to pack up your own groceries when you’re done, but the savings make it more than worthwhile.

Rely on cheap staples. There are many foods that are nutritious and don’t cost a lot. On weeks when there aren’t a lot of good sales, rely on these foods. Some of the best choices are cabbage, beans, bananas, eggs, and oats.

Buy in bulk. If possible, buy in bulk. We order monthly from Azure Standard. Azure is not available in all areas of the country, but they are expanding. We simply meet the truck at a specific location on our delivery day and pick up our food. You can also see if there are any co-ops near you. Participants buy in large quantity and then split the items to pay the lowest cost.

Buy directly from the farmer. We enjoy hamburgers, steaks, roasts, stew meats, and organ meat that is humanely raised and grass fed by buying direct from the farmer. We pay around $6/pound. Yes, that is expensive for ground beef, but that’s also the flat price we pay for premium cuts of steak and roasts. Less than half of our order is ground beef; the rest is premium cuts of meat. We order twice a year.

Coupon. I put couponing as the last way to save largely because we don’t eat a lot of processed foods, and coupons are often available for processed foods. However, if money is tight and you have a few boxed favorites, using coupons can be the way to go.

What are your favorite ways to keep grocery expenses down?

8 Ways to Save on Air Travel

By Squirrelers 6 Comments

Traveling can be a lot of fun, especially if it involves doing so for a vacation or to see family and friends. While I have kids and don’t have the flexibility to travel on a moment’s notice, it doesn’t mean that I don’t remember the times that I did. And, it doesn’t mean that in the future I won’t pick right back up and travel!

The thing about air travel is that it can be really expensive. With the cost of flights what they are, it can worth asking ourselves the question: should I fly or drive? Or take the train or bus, for that matter.

If we make the decision to fly, there are ways that we can cut costs. Here are 8 such ways to save:

Travel on off-peak days

If you fly during popular times, such as major holiday weekends, prices can often be higher than during off-season times. For example, traveling from a cold weather locale to somewhere warm can be expensive around the winter holidays or spring break. Travel in September, for example, and you might pay a good deal less.

Use alternate airports

Here in the Chicago area, we have two major airports. However, there is an airport north of here – Milwaukee – that provides another option. What I like is that it costs a lot less to park there, which adds up. Yes, this is an indirect cost of air travel! Also, depending on where you live, you might be able to score cheaper fares at different airports from your primary one.

Use miles

The last time I flew, I used miles. It was nice to spend nothing on airfare! The card I primarily use does offer miles, and I actually make sure not to consider it at all when making purchases. As in, I don’t make any purchases based on the hope of accumulating more miles. If you obtain them through your normal course of spending, it’s a nice bonus.

Take a red-eye flight

Okay, this is one that I will not do. I’ve written about this before, but I think that sleep and wealth go together. As in, getting a full night of sleep is not only good or your health but will also keep you energized and ready to be productive. Even if you don’t plan to be overly productive on vacation, it’s nice to be able to awake enough and not sluggish when you arrive. HOWEVER, it can be a great way to save money on a cheaper flight!

Compare fares

Shop around! It doesn’t take much time to search different sites to compare fares. Not every airline will be priced exactly equal all the time. Sure, the flight times might be slightly different. But if you have a bit of flexibility, and are willing to do just a little bit of work looking online, you can optimize your purchase.

Pack your food

Do you want to pay a pricey sum for an in-flight snack box? Or, perhaps worse, spend an arm and a leg for a meal in the food court? I once spent over $12 for a sub sandwich at airport, which seemed to be twice as much as one might pay elsewhere. Airport food is expensive, and packing your own food can be good way to save money at the airport. It’s another indirect cost of air travel!

Get bumped from a flight

If the flight is overbooked, someone may have to be bumped. Often times, this can be an unwelcome event for a traveler, and I’ve known of a time when someone decided to turn down a free flight. However, if it doesn’t matter to you if you take a later flight, you might be able to get some consideration for your willingness to be bumped.

Don’t check a bag

In other words, pack lightly! Checked bag fees can really add up. Travel with a normal carry-on, and you can avoid some annoying fees. Remember, that fee you don’t like would have to be paid on the return trip too! Now, I did inadvertently discover a baggage fee loophole on a flight a few years ago, though I don’t recommend it J

My Questions for You

Which of these money-saving strategies have you employed?

Do you have any other tips?

Drink Tap Water to Save Money

By Squirrelers 20 Comments

When we go out to eat, a surprisingly significant percentage of the bill can come from just getting something to drink. You might end up spending $2 for that fountain drink with your meal. Or, if you simply grab coffee some morning, it might have nothing to do with your breakfast – and still set you back $2. Or, much more if you get something other than simple coffee.

I recently went 2 straight weeks without getting anything to drink other than water. This meant that I had no coffee, soda, or other drinks during that time. It’s not the first time I’ve gone without such drinks, as I’ve written about giving up caffeine before. Needless to day, I went back to drinking caffeine after that post a couple of years ago.

Anyway, this round of sticking to water found its motivation after recent dental work, where I saved money on a wisdom tooth removal. I thought it would be best to stick to water for a few days, and once I got on a roll, I just kept at it for a few weeks. The results were interesting, both in terms of health and money.

Health Benefits of Drinking More Water

The health benefits I observed were noticeable, and a mixture of expected and unexpected:

More consistent sleep. Meaning, I didn’t toss and turn, or have trouble falling asleep. I just slept, quite uneventfully actually.
Less sleep. This one was surprising. I would have thought that cutting out caffeine and simply having water might have meant more sleep would occur, but not exactly. Perhaps if one sleeps better, less sleep is needed than if you’re not sleeping as well? Who knows, but it was simply a half hour or so less sleep all told anyway.
Steadier energy levels. Not having caffeine or sugar seemed to having a steadying effect
Calm stomach. Not that I had any noticeable trouble before, but water seems pretty easy on the body compared to consuming many other things.

Now, I can’t speak to the specifics of tap water in your community or any other. Just going by how I feel with the local water here 🙂

Money-Saving Benefits of Drinking More Water

The money-saving benefits I noticed were fun to see:

Water is free. Okay, maybe not free to the environment, or the water bill. But there is so little incremental cost to getting a glass of water, that it might as well be free.
Cutting out all other drinks probably saved me $40 over the 2 weeks. Seems like a lot, but I think I was spending that amount on coffee each workday, plus a random fountain drink outside and juice at home. If I annualize that, we’re talking about savings of over $1000! For those who have more fun beverages, I’m sure the savings would be much more. Perhaps several thousand dollars?

After the two weeks, I actually stopped at a Jamba Juice and paid $5.02 (yes, $5.02!) for a 16 ounce cup of freshly squeezed orange juice. It was really, really good! But after a long stretch of just having water, it almost seems unimaginable for me to spend this much regularly. Not that I did, but even with other drinks, it’s like guzzling down hard-earned money!

One thing to clarify here – none of this involved bottled water, except for 2 bottles I got for free. Strictly tap water!

My Questions for You

Do you spend much money on other drinks each day – coffee, soda, juice, etc?

Do you ever think about how much money can be saved by drinking water?

What would motivate you more in terms of drinking more water – the health benefits, or money benefits?

8 Ways to Save Money on Shoes

By Squirrelers 26 Comments

Saving money is a good thing. We all like to save, right? Be it a mortgage, car, travel, or whatever the case is – saving money is something many of

Don't worry, these aren't mine!

us would like to do in a lot of cases.

This can even apply to shoes. That’s right, despite how some folks might be addicted to such purchases, saving money on shoes is yet another example of how saving can add up over time. When you answer the question of “how many shoes do you buy in a year”, and do the math, it’s clear that this is an expense category where we might have the potential to save some dollars.

Here are 8 ways to save money on shoes:

Practice showrooming. One can always stop at the local stores, and take a look at designs of just about any type of clothing or fashion-related item. This includes shoes, even if functional in nature. Then, simply go online and buy. Of course this isn’t always possible for every shoe, but for many it could be.
Remember that expensive doesn’t equate to better. Just because one pair of shoes is much more expensive than another, it doesn’t mean that it will be any better. I recall, when younger, buying a very nice pair of shoes for work when I was supposed to dress in suits for that role (thankfully, many years later, this is less common!). That particular pair of shoes wore down fast, both at the soles as well as near the laces where the leather got frayed. A follow-up pair of less expensive shoes ended up being more comfortable and longer-lasting.
Focus on quality. Like many things, quality can be worth the investment. This is a case where, contrary to the point above, expensive might actually be much better! A good pair of shoes might be able to last a long time.
Take care of your shoes. Just as is the case with many purchases, how we take care of our shoes could play a role in how often we have to replace them. If you have nicer shoes that you wear in bad weather, they will face wear and tear. So take care of them!
Shop sales. This probably goes without saying, but there can be significant savings by waiting for shoes to go on sale before buying them. If you’re buying a $100 pair of shoes, why not wait until it’s on sale for 30% off?
Shop off season. Or maybe better put, buy them strategically. Just like buying a winter coat might be less costly toward the end of the season when retailers might be looking to clear out the season’s inventory, so might buying shoes at the right time and point in the season.
Repair older shoes. Sometimes we don’t have to buy new shoes at all. Why not try to repair shoes, instead of running out to get new ones. Certainly this won’t be possible with all shoes, nor would you want to do this with all shoes. But there are times when shoes can simply be repaired instead of cast aside for brand new ones to be purchased.
Remember: they’re just shoes! I think this point might be most important, particularly for those who are seemingly hooked on buying shoes, and find them hard to resist. If you’re a shoe addict, get a grip and realize that having good shoes doesn’t mean obsessing over new styles or buying 20 new pairs per year. They’re just shoes!

My Questions for You

How much do you spend annually on shoes?

Do you actively look to spend minimally on shoes, or do you find them to be a big temptation for your hard-earned dollars?

What do you think are the best ways to save money on shoes?

5 Ways to Save Money at Airports

By Squirrelers 26 Comments

Recently, I had to do an overnight business trip which required me to make a 2 hour flight. Given the flight time, time of day of the flight, and accompanying delay, I decided to buy dinner at the airport. Why stay hungry for hours on end, right?

With a little bit of time on my hands before the flight, I ambled over to the little food court that was within my gate. In surveying the choices, I found pizza, Chinese food, and subs. The pizza kiosk looked empty, and the Chinese food looked pretty unappealing. When you see tired business travelers eating greasy noodles out of a to-go container, it’s not exactly a siren song that draws you to buy that stuff and consume it:)

So, I instead decided to purchase a sub sandwich and, a drink. In surveying the choices, I settled on a full-size sub, and a large bottled water for the flight. I like to bring water on the flight, just in case. After the sub was made, and I grabbed the bottled water, the employee rang me up.

The total? $13.

Yes, it was $13 (and some change, actually) for a sub sandwich and a bottle of water.

Sure, the sandwich wasn’t small, and the bottled water was a probably over 20 ounces, but that’s quite an expensive price to pay. Even the lady that rang up the order remarked that you could probably buy two of the same meals for that same price if you were outside the airport at a regular location. If the same meals were made at home, I’d venture to guess that one could probably make five of the same meals. To be fair, I didn’t take a really close look at the prices when I ordered, only because it was clearly a fast food, food court quality meal I was buying. How expensive could that actually be, right?

Well, it was quite expensive by most standards here in the U.S. Fortunately for me, as I mentioned earlier, I was on a business trip. It was a legitimate reimbursable expense, so I wouldn’t personally feel the pinch. But still, it’s not something I want to pay, whether I’m ultimately responsible or anyone else is.

That got me thinking about how expensive it can be to travel by air. Sure, the tickets themselves represent the bulk of the expense. But there are other expenses that can really add up, and make the airport a place that drains your pocketbook unexpectedly and in a hurry. Normal rules and price ranges don’t quite apply there, and it’s easy to fall into the trap of being on “vacation mode” and lose perspective on keeping expenditures in line.

With that inspiration, I’ve drawn upon my travel experiences to come up with 5 ways to save money at airports:

Pack your Food. When packing for your trip, prepare an easy to transport meal that can be placed in a carry-on. You’ll have to be sure to pack food that can go through security (check on specifics ahead of time), but most items should work. Maybe a sandwich and an apple, for example, would make an easily transportable meal that’s not messy and could be eaten while waiting for your flight or while on board. Instead of spending $10 for an airport meal, you could pack one for $3. For a family, this can add up quickly.
Drink Water Before Arriving. Since you can’t bring water bottles into the gate area, make sure you drink a fair amount of water before getting to the terminal. No need to drink like a fish and then be running to the bathroom all the time. Just drink enough so that you won’t be super thirsty upon arrival. Now, I do recommend getting water while at the terminal, in case you’re stuck on board and then subsequently delayed at some point. That said, at least you can purchase less water. A $2 bottle of water is better than a $4 bottle of water! Or, alternatively, you could bring an empty reusable water bottle and fill it at a fountain in the gate area.
Bring Reading Material from Home. Many people like to bring items to read onto the plane. If it’s a long plane ride, that’s certainly understandable. Personally, I do this as I can be quite focused on the plane and prefer to read instead of sleep. If you’re like me, plan ahead and bring a book or magazine from home. If you choose to make an impulse purchase there, you’ll likely pay full price and might be missing out on reading something you’ve already purchases. Plan ahead, and you can save from $5 to $25 and up.
Avoid Clothing, Souvenir, and other Airport Retailers. These items purchased at the airport are probably not going to be cheaper than what they would cost at a normal location. Rather, they’re likely to be priced at a premium. Remember my sub sandwich example? Think of that multiplier, except for bigger ticket items. Again, some people get into vacation mode, escape from reality, and buy things that they don’t need while paying a premium price.
Park in Economy Lots or Take Public Transportation. This applies to the part of the airport travel experience that occurs before you get to the terminal. Now, if you’re flying from a small, regional airport, this might not make a difference. But if you’re traveling out of a larger airport, it’s something to consider. For me, parking in the garage would cost $31/day vs. $16/day in a remote, “economy” lot. Over the course of 5 days, that adds up. Another option is to take public transportation to the airport, if available. This would likely result in even more significant savings.

What about you?

Do you ever follow any of these approaches to saving money when traveling at airports? Do you have any other tips?

Work Out How Much You Can Afford to Save

By Squirrelers Leave a Comment

The following is a guest post via MoneySupermarket

Savings is the catchphrase at the moment for many in these difficult economic times. If we saved more before, we might not have been in the dire straits we are now, either globally or personally.

Can you save more? Can you afford to save more? How much can you afford to save and what would it mean for your future? Consider the options and see this page for the best interest rates currently available on savings accounts. If you do not have a budget, it is time to get one. Do it before the end of the year or make it a New Year’s resolution.

The beauty of a budget is that it trains the mind and disciplines your spending habits – something we can all use in our lives.

Take a sheet of paper and draw a line in the middle. In the first column write everything that you earn and include your full-time income and any other part-time income that you may receive regularly. In the second column write all your fixed monthly expenses. The idea is that there should be more money in the first column than in the second!

If not, you have to seriously reduce the spending in the second column. In the second column you will find expenses that are necessary with items such as a mortgage loan repayment, car repayment, required insurance and utility payments. Insurance payments would include health insurance and any insurance on your car or house. The car and house insurance might be a lender requirement or a sound judgment of your own.

Also necessary, will be amounts spent on items such as groceries. Gas will also be necessary, but how much of it is necessary? Can you perhaps make a plan to reduce your gas bill by taking the train or bus more often to avoid rush hour traffic? Can you team up with a neighbor on your way to work? If you use public transport, will the cost be less than your gas bill? Can you walk to a store nearby instead of using your car, out of habit?

Look at the expenses in the second column and work out what you can stop paying and put it into savings instead. Do you have any store accounts? Will it not be better to pay them off, save that amount and buy with cash in future?

Do you eat out? Do you order in? Can you reduce those amounts? Will it not be better to cook a healthier meal at home and involve your kids in the cooking process? If the kids cannot cook, it will afford them the opportunity to learn an invaluable skill. Also, home cooked meals are healthier than bought ones and by keeping their hands busy they will snack less and they can even lose weight.

Reducing expenses is easier said than done. If you earn just enough to get by, you will never save much. The fact of the matter is that we all need an emergency fund because we don’t know what the future holds.

Add another item to your list of necessary expenses and call it savings. Arrange for a deduction from your bank account so that you cannot renege on your decision. Then forget about it. Your savings can be a saving grace. Make a definite effort to start saving, even if it is the smallest monthly amount that the bank will accept.

What Really Motivates You to Save?

By Squirrelers 20 Comments

Saving money is obviously an important action to be taken to maintain strong financial health. It’s something that too many people don’t do, despite being widely encouraged to do so. On the other side of the coin, there are some people who actively save. Within that group, there are some that are passionate about saving.

I’m in that latter camp. As I’ve gotten older I’ve taken a closer look at my finances and projected where I am compared to I would like to be long-term. The results of this analysis have pointed me in the direction of increasing my savings rate. Of course, one can only save so much; if you grow income concurrently, your savings increases further.

Clearly, there’s something motivating me, might you agree? This “long-term” notion I mentioned at the beginning of the prior paragraph naturally points to a future a need for money.

Ok – so that’s nothing different than saving from retirement, right?

Perhaps. But it goes further than that.

While some savers are motivated to squirrel away money for specific items (house, for example), paying off debt, or for a retirement filled with world travels – I’m primarily motivated by one thing: not being old and broke.

Sure, I have other “aspirational” motivations, such as a glorious retirement filled with traveling around the world, living in a very nice home, spending lots of time with grandchildren, generously giving to those in need, etc. Actually, I what I would really like is financial freedom as soon as possible.

Let’s get that party started quickly!

But really, it’s that avoidance of being old and broke that’s at the foundation of my interest in saving. I had always had that in some far corner in the back of my mind, but my recent increase in time spent downtown here in Chicago – as opposed to the suburbs – has increased my daily exposure to people begging for money.

Now, the area around Michigan Avenue is a fantastic area with VERY expensive real estate, particularly for here in the Midwest. Additionally, it has what in my opinion is the highest concentration of fine shopping, dining, and hotels in between the East and West coasts. That said, this perceived prosperity draws a few beggars at times.

I really don’t like to see this, and it’s not because I’m annoyed at them for being lazy. Well, it might be for some of them, particularly those in their 20’s and 30’s. But mostly, I just don’t like to see people in a position where they have nothing – no money, no home. Call me a softie, that’s fine.

What really gets to me, however, are the older people who I have seen. While being on the street probably ages people, a few of the people I saw clearly looked to be 65+. The first such person I saw was a woman, the second one an even older man.

That could be someone’s Mom or Dad out there!

Now, who knows what happened in their life to get them to that point. Maybe they did some bad things? Or, maybe they had just one or two bad financial decisions or life events and they were out on the street? Tough to say.

I give a few dollars to people such as this. Hopefully an exceptionally generous person will step up and do more.

Anyway, once I acknowledge that I feel bad for them, I start to think “I don’t want to be them. Ever.”

In the hierarchy of financial motivators, that’s at the top of the list for me. Or maybe a better way to think about is that it’s at the foundation of my personal finance hierarchy of needs.

What motivates you to save money? Not superficially, but at your core. Why do you, deep down, feel the need to save?

Commuting Costs: Be Careful, They Can Be Surprisingly High!

By Squirrelers 21 Comments

It’s no secret that a big part of our financial engine is the type of career we have. Some offer more compensation, others not as much. Within each career track, there are different job opportunities that can pay more than others.

It just makes sense to consider these factors when looking at our ability to earn and save money. That being said, does it make sense to strongly consider our daily commute as well?

Personally, I think it does. Speaking from my own experience, the length of one’s commute to work in terms of time and distance can play a significant role in the ability to move our finances forward.

I’ve had commutes of varying degrees over the years. The shortest commute I’ve had was 5 minutes each way. That was many years ago, and actually that was the case with 2 jobs I had. Funny, I really took it for granted back then and didn’t realize how nice that was. On the other end of the spectrum, I’ve driven as much as 1.5 hours each way, and had the commute become a big part of my day. Having experienced both extremes, as well as points in between, it’s clear that there are significant costs involved.

Let’s take two examples that are a little bit less extreme than my commutes, and assess the costs.

Commute #1: 10 mile/15 minute commute each way

Commute #2: 40 mile/60 minute commute each way

Also, let’s assume that your car gets 25mpg on average, the cost of gas is $3.50 per gallon, and you’re working 22 days per month at 8 hours per day.

Gas Expenses

In terms of gas costs, your monthly/annual costs are as follows:

Commute #1: $62 per month, $739 annually

Commute #2: $246 per month, $2,957 annually

Clearly, that longer commute takes away from the amount of money one could save per year. The difference between the two is about $2,218 per year. Think about what you could do with that $2,217. If you chose to spend it, that would make one heck of a vacation! Or, if you choose to save it, that would be a nice addition to your retirement savings. When compounded over time, this can result in even more money.

Car Expenses

While somewhat less direct or quantifiable, there is a cost associated with wear and tear on our cars. To illustrate this, let’s assume that our car is a $20,000 vehicle that we expect to drive all the way to 200,000 miles. Taking these assumptions into account, the amount of value that we’re losing from our vehicles will be as follows:

Commute #1: $44 per month, $528 annually

Commute #2: $176 per month, $2,112 annually

The difference between the two is about $1,584 per year. Now, this is using straight-line depreciation based on mileage – excluding any minimal salvage value. This calculation does have a number of assumptions built-in and doesn’t reflect direct cash expenditures, but it’s clear that a longer commute wears out a car quicker – which accelerates our future spending on our next car.

Time Expenses

Let’s consider this from an opportunity cost perspective. If we’re in the car trying to get to a job, it’s time that’s job-related and not personal. It takes away time that we could spend doing other things if not commuting. Time with family, housework/errands, and exercise are activities that first come to mind, among others. There’s value there, even if it’s hard to quantify.

Well, let’s give it a try anyway, even if it’s not an exact science. For sake of example, let’s assume someone with a basic, annual salary of $50,000. That person’s time has value, as evidenced by the salary. Factoring in the earlier assumptions about hours and days worked (22 days per month, 8 hours per day), this person’s hourly wage comes out to $23.67 per hour. Going with this figure, the opportunity cost of the commute is as follows:

Commute #1: $260 per month, $3,125 annually

Commute #2: $1,250 per month, $9,375 annually.

Ok, I know that some folks won’t share my views on opportunity cost of time, but our time is valuable. If you do want to attempt to quantify it, it becomes clear that there’s value that’s being expended during our commutes to work. In this case, the difference between the two is about $9,375 per year.

Overall Assessment

At the very least, we can directly quantify the cost of gas with a longer commute. In that case, this “typical” example of short (15 min) vs. long (60 min) commute indicates a:

$2,218 difference between short and long commutes based on gas costs.
$13,176 difference between short and long commutes, when adding in the indirect costs of car wear and tear, and the opportunity costs of time.

Bottom Line: Clearly, no matter how many layers of costs we want to include in such analysis, it’s clear that there’s an impact of commuting that might be more than meets the eye. So, when evaluating your current job or a future job opportunity, it’s worth taking a very close look at the overall commuting costs.

My Questions for You:

If you’re working (or have a spouse that is), what’s the total commute like? How does this play a role in the quality of your life?
Do you ever think about the costs of a job commute, and the impact is has on your finances?

Save Money By Keeping a Home Maintenance Journal

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The following post is from Melissa Batai.

If you’re lucky, the first few years you’re in your home, you won’t have to invest much money in home repairs. But, little by little, things start to break, and you need to call the repair company. For instance, our garage door has been problematic since we bought the house, and we’ve had it repaired twice. After the first repair, I went about my merry way, but then, two years later, when I needed the garage door repaired again, I had no idea who I had called for the first repair.

I quickly learned that keeping a home repair journal is the best way to stay organized and save money. There are multiple advantages to doing so:

Continue to Hire Reliable Contractors

If the contractor does a good job with the repair and is reasonably priced, you definitely want to support his business and hire him again. The first person who repaired our garage door was very reasonably priced and quick. While the second contractor I hired did the work, he wasn’t as good as the first, who I still wish I could find again.

Develop a Relationship with the Same Company

By sticking with the same company, you develop a relationship with the contractor, and you can (eventually) trust that they’ll do the work and give you a fair deal. We have hired the same plumbing company and seen the same plumber from that company several times, and it’s nice to be in their records so they know what they’ve repaired and we know they’re reliable.

Keep Track of Regularly Scheduled Maintenance

Just like you maintain your car with tune ups and oil changes and replacing items that have regular wear and tear like tires, so, too, you should maintain your home.

In your home maintenance journal, you should not only have a list of contractors who have done excellent work, but you should also keep track of what maintenance and repairs you have done and when. (If you need it, here’s a list of regular home maintenance tasks.) For example, you can easily go to the binder and see that you had the a/c checked in April of last year.

To be more organized, you can develop a schedule of regular maintenance and when you should do it. Fall maintenance tasks might include cleaning the gutters and cleaning the lawn mower before winter storage, among other tasks.

Have a List of Updates When You Sell Your Home

How handy would it be, when you get ready to sell your home, to pull out your budget binder and let the realtor know all the repairs and replacements you have made since you bought the house. “We replaced the central air three years ago, replaced the water heater a year ago. . .”

All those repairs and replacements you make not only show that you’re maintaining your property, but that you’re increasing its value, and those replacements should help you increase the listing price of your home.

If you keep a home maintenance binder, you will reduce chaos in your life and likely save money, especially as you maintain your home and prevent major repairs.

My Question for You

Do you keep a home maintenance binder? If so, what information do you include? Has the binder saved you money and reduced stress and chaos?

Easy Ways to Save Money Every Day

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In a world where it’s incredibly easy to spend money at the click of a button, it’s becoming increasingly difficult to save cash for the things that we want and need. If, like many people today, you have a small income, but big dreams of what you’d like to accomplish in the future, then you need to establish a saving strategy that will help you to reach your targets.

Often, people assume that the only way that they can realistically save money is by making a vast changes to their lifestyle, like giving up driving, or moving to a smaller home. However, the truth is that you can make minor adjustments every day that add up to considerable savings in the long term. Here are some ideas to get you started.

1. Make a Difference to your Credit Score

Use a free service to find out what your credit score currently is, then create a plan for improving your rating in the next few years. You’re not going to make a massive difference to this score overnight, but the faster you start working on it, the better off you’ll be in the long term. A good credit score gets you better deals on your future loans, including mortgages and car finance deals. Additionally, it can also improve your chances of being hired for a better job by showing your employer that you’re responsible with your cash. There are however also sites such as HappyPenguin.com who cater for those with poor credit.

2. Make a Weekly Money Date

One of the best things you can do to change your relationship with money, is spend more time with your bank balance. Set some time aside once a week to look at where you’re spending your money, where you need to cut down, and what you need to change in your budget. You can also pay attention to the progress that you’re making towards your goals at this time. Depending on how often your financial needs change, even a monthly money date could be enough.

3. Plan your meals in advance

How much money do you spend on food that never gets eaten? You’d be surprised how many groceries end up in trash bags at the end of the month. To make sure that you’re not wasting anything, plan your meals in advance. This will keep your food costs low by allowing you to buy certain items in bulk. It will also mean that you can prepare your meals early and have them ready to just throw into the oven each night. That way, you’ll be less tempted to order in.

4. Join the Streaming Revolution

A couple of years ago, the idea of getting rid of cable would have been too much for most households to bare. However, these days, you can cut the costs of your entertainment significantly by getting rid of cable patches and switching to streaming TV instead. Watching shows through Netflix and Hulu is often a lot cheaper than having a cable connection, and you’ll have more freedom to choose exactly what you want to watch too.

5. Invite your friends Over

The more friends you have, the more time and money you’re going to spend on things like lunch dates and dinners. If being social is draining your budget, consider looking for a cheaper way to connect with your loved ones. Host a potluck party once a month where everyone can bring their favorite dish. This way, you can save money on going to a fancy restaurant and still have a fantastic time with the people you care about. You can even invite people to bring games and drinks over too, to make a full night of your time together.

6. Sleep on your purchases

Impulse buying is still a big problem for a lot of people today. If you have a habit of clicking “buy” on everything that you want online, remove all your credit card details from your favorite websites and clear your cookies. Once you can’t make instant purchasing decisions, force yourself to wait at least 24 hours before you go and seek out your credit card details. If you’re not as keen to make the purchase the next day, then you’ll know that you were just being seduced by marketing, and you didn’t’ want to buy the product.

7. Choose Quality over Quantity

Finally, every so often when you need to buy something important, like a new sofa or a bed, tell yourself to look for the item that’s going to cost a little more, but last a lot longer. Sometimes you really do get what you pay for, so don’t cut corners on those important purchases.

How to Save Money on a Life Insurance Policy

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Everyone should have life insurance. The key question is “How much is enough?” To find an answer, you’ll have to do some planning, online research and serious soul-searching. One thing everyone should do is find the lowest rate for the kind of policy they want to buy to still be able to improve finances. Here are five tried and true methods for cutting your life insurance costs.

Buy Early and Pay Annually

The younger you are when you buy life insurance, the lower the cost. Buying while you’re still in your 20s or 30s is the most powerful method for getting a low-priced policy that offers all the bells and whistles you desire. But don’t be discourages, even “older” folks in their 40s, 50s and 60s can find policy bargains if they maintain their health and shop carefully.

Consider a Term Policy

There are many kinds of policies, but term insurance offers the lowest rates for simple coverage that most people are looking for. What’s more, you can buy as much or as little term coverage as you wish, in small increments. Agents sell more term policies than any other kind, and for good reason. Consumers who want the most bang for their life insurance buck opt for term policies.

Figure Out How Much You Need

Beware! There is no agreement among experts about exactly how much life insurance you should buy. An old, inaccurate rule was to purchase between two and five times as much as you earn per year. The problem with guidelines like those is that they can’t account for individual differences. You’ll need to carefully consider your particular lifestyle as well as personal preferences before deciding on a figure.

Are you single? Do you plan to ever get married and start a family? Do you just want to cover basic needs like funeral expenses or are you aiming to completely replace all of your income potential and then some? If you were to die today, how large of a policy would you want? Five years from now? Ten? Twenty? Sit down and make a list of your answers to these questions and any others that help you hone in on your life insurance needs.

Time has a way of changing our attitudes and needs, so don’t forget to reevaluate your situation at least once per year and whenever a major life event takes place. Life events include things like major job changes, deaths of family members, long-term illnesses, births, moving into a new house, buying or selling a business, and doing a re-set of your financial goals.

Do Your Own Online Research

Like so many other financial products, you can save a bundle by researching and shopping online. For example, LowestRates.ca does a good job breaking down the difference between term and permanent life insurance policies. Spend a few hours, at least, honing in on what the average rates are for people in your age and health categories.

Keep an Eye on Your Health

Face it, life insurance rates are based on your age, gender and health. Obviously, the one factor you have the most control over is the last. Quit unhealthy habits like smoking, excessive alcohol consumption and the use of any illegal substances. Visit a doctor and make sure your weight, cholesterol and blood pressure are in line for someone your age.

Save Money on Dental Care: How Much Pain Can You Handle?

By Squirrelers 24 Comments

How much is avoiding dental pain worth to you?

The cost of dental work can be quite high for many people. For those who do not have insurance, it can be outrageously costly. Even if you do have insurance, dental care can be expensive anyway.

Regardless, it’s something that’s important and we need to take care of our teeth for many reasons. Dental health has been shown to impact our overall health in numerous ways.

With that in mind, I’m facing a dental procedure that needs to get done. I need to get a wisdom tooth removed, which is not something anyone would look forward to. However, it has to happen, so I might as well get the time scheduled and get it over with. The only thing I thought I had to decide was when to make the actual appointment, but I found out that I have a new decision to make: how much to spend on pain relief for wisdom tooth removal!

Frankly, I haven’t really considered this type of decision before. Usually I’ll just deal with the medical care that I have to get, and will put my health above money – within reason of course. If things are truly optional, that’s obviously different. But if I absolutely need medical care or medicine, I’ve just gone ahead with it in the past. What’s the point of saving money if it impacts your health?

As I noted, this procedure must be done, so of course I won’t try to save by avoiding it. However, there are different prices for pain relief for this dental procedure. After getting an initial consultation, the office got back to me with the following 3 options for removing the wisdom tooth.

Local Injection

This apparently involves a shot (or shots) to the mouth and areas near the tooth. The idea would be to numb the area so I don’t feel as much pain as the tooth gets extracted.

Pain Relief: 3rd best out of the 3 options

Cost: $76 – least expensive of the 3 options

Gas (Nitrous Oxide)

This option, from what I understand, is intended to relieve your anxiety so that you really aren’t too bothered during the procedure. Thus, you may not notice the pain quite as much while the tooth is being extracted.

Pain Relief: 2nd best out of the 3 options

Cost: $115 – 2nd most expensive of the 3 options

IV Sedation

In this case, you are actually sedated. You’ll be out of it, and won’t be noticing what’s going on. Essentially, its like you’re asleep.

Pain Relief: best out of the 3 options

Cost: $338 – most expensive out of the 3 options

With all this information provided to me, the first thought that came to mind was this: “give me a shot, get that sucker out of there, and let me save some money!” Then, I paused and thought about it for a moment. Do I really want to do that?

The difference between a local injection and the gas is $39. That’s not much, all things considered, for something like this. So, I’m eliminating local injection as an option. The difference between gas and IV sedation, however, is $223. That’s a little bit more noteworthy. I’m probably going to go with either nitrous oxide, or IV sedation for this treatment.

The decision: is $223 worth spending for a little more pain relief?

It’s money vs. pain? I wonder how many people even think of money in a case like this? I’m guessing there are people on both sides of the spectrum. Some might want pain relief no matter what, and there might be some tough characters that will save a buck at any cost. The things people will do to save money!

This also serves as a reminder of how important it is to have insurance and some financial resources. Some folks have no options.

But for those that do, I wonder how many would tough it out and go with the cheapest options. For some, losing money can be quite painful! 🙂

My Questions for You:

Which choice of the 3 would you go for?

Do you think of money in cases like this, or do you just want comfort at any reasonable price?

Have you ever faced a decision on any health care decision that was impacted by cost?

5 Tips to Save Money on Property Taxes

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Taxes are just one of two constants in life that homeownership gets entangled with. The money you owe on property taxes can vary based on the age and size of the home, as well as the state you live in. Unfortunately, there’s no sure fire way to “game” yourself out of paying this expense every year.

Face property taxes head on by mastering the expenses that go into them. By assessing the value of your property and evaluating each cost area, you could end up saving a bundle down the road. Listed below are five tips that can help you save money on your property taxes.

Property Card

If you’ve ever played the board game, “Monopoly,” then you might know how property cards work. The real world kind can be found in your assessment paperwork or printed from your county’s online database. It itemizes every aspect of your purchase-square footage, bathrooms, bedrooms, additional features- along with their individual costs.

Examine your property card carefully. Double check some of the items listed on it. Measure the lot the house is on to figure out if the property is a 3.0 acre lot or a .3. False claims regarding extra assets are the easiest to rectify. For example, your card may list the property having three bathrooms when it only has two.

Hire an Appraiser

In order to get a fair assessment of your home, hire a licensed appraiser to go over your home. Grant them access to the interior so they can get a complete review of the property.

It’s acceptable to give the appraiser a guided tour of your home. Just make sure it’s an honest one. Point out all the positive aspects of your home, while indicating imperfections that you plan on repairing. Keep copies of any permits, receipts, and information for any additions you have.

Challenge & Appeal

Inaccuracies on one’s property card is enough to raise a challenge. This will require assistance from your realtor and a tax attorney since these cases may go through local tax courts.

A tax attorney can examine local tax codes to determine whether or not you have a strong case. Your realtor can run comparable checks on the values of homes they sold in the neighborhood.

Comparables

Comparables tell you how much 5 to 10 homes sold for the last 6 months. These prices may vary based on location. A home in Austin, TX is bound to have a 2.06% tax rate.

Online services can get nab you comparables in minutes. Since local offices are inundated with appeals, you can set yours apart by going the extra mile. Add supporting documents and photos to illustrate the value of your home.

Hold-off Any Additions

When you purchase a fixer-upper, you’re planning on renovating. The hard part of appealing the tax comes at the expense of those improvements.

Any permanent add-ons will raise your appraisal. Get your tax information settled before you build onto the property. If the price is right, build away!

Five Effective Ways to Save Without Stress

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Saving can seem like a difficult task at times. It requires you to break negative spending habits that you may have developed over the years and adopt new ones. This can be challenging when you have things that surround you on a daily basis that are seemingly waiting for you to buy them. For this reason, saving can sometimes seem stressful, and you can easily become discouraged. If you’re looking for effective and stress-free ways to save, some of the following points may help you. You will discover five ways that you can begin saving without feeling as though you’re attempting to do the impossible.

Piggy Bank

One of the easiest ways to save money is by going back to the basics and getting a piggy bank. It is possible to save a significant amount of money by doing so, and the good thing about it is that once the money is in there, it’s difficult to get it out. For this reason, you should think about getting a piggy bank or something of that nature that makes accessing money that you’ve put away difficult. You can determine what exactly you want to save, whether it be notes, coins, or a mixture of the two. Piggy banks are also a way to relearn a childhood lesson which is that the best time to save money is when you have it. Another way to keep you motivated is to write down your saving goal and stick it to the front of your piggy bank as a constant reminder of the reason that you’re saving.

Cut Down on Entertainment

If you take a good look at your bank statement for the month, it’s likely that you’re going to find you spend a reasonable sum on some form of entertainment. This could be eating out regularly, going to the movies, subscriptions for cable and music or money spent on other interests and hobbies. Although it is great to spend money on things that make you happy, if you truly want to save, you’re going to need to cut down. This could mean choosing between cable and your music subscription or taking lunch to work instead of eating out a few days in a month. Another way of cutting costs is to try a weekend dedicated to no spending. This means that instead of going out for a night of drinks and food, you opt to watch some movies on Netflix and whip up a home-cooked meal instead. Saving shouldn’t necessarily mean depriving yourself of the things you love entirely, however, you may have to learn not to overindulge on a regular basis.

Pay Bills on Time

One of the things that can set your saving goals back significantly are bills that are paid late or not paid at all. This is because paying your bills late usually ends with you being charged late payment fees which can completely throw your finances off board for the month. You should, therefore, make an effort to pay your bills on time by getting a little more organized. You could, for instance, decide to set up a direct debit for all of your recurring bills so that you don’t forget to pay them on time. You do have to remember, however, to ensure there’s money in your account to avoid additional bank charges so perhaps consider letting it come out of your account on the day you get paid. You may also have credit card bills and loan repayments to companies such as mini prestamos to pay back on a monthly basis if you happen to borrow. The same rule applies which is to try and ensure your payments are received on time so that you don’t end up spending money that should be saved.

Leave Your Card at Home

Although the creation of debit and credit cards are in some ways a life-saver, they can also be counterproductive to saving if you don’t have enough discipline. Because of how easy and convenient they are to use, you can touch, swipe, and use them online at any time which can sometimes lead to overspending. As an alternative, you should think about taking cash out for the week instead. This way, you’re forced to calculate how much you actually need on a weekly basis excluding random shopping sprees, comfort food shopping, and purchases made out of boredom. By living on cash most of the time, you may learn key ways of saving money such as learning how to decline social gatherings, tracking your expenses, setting saving goals, and taking public transport or a bike to get around from time to time. Overall, ditching your card and sticking to cash could help you stick to a tight budget and as a result, save more.

Fall in Love with Home Made

You might find that you save a lot of money when you learn how to do things yourself. Irrespective of the fact that you may have a pretty busy schedule, you should try and find a few minutes a day to dedicate to things such as cooking and creating your own products at home. Cooking for one can save you a ton of money as you’ll have less incentive to eat out. You can try meal planning as well as learning recipes for your favorite foods so that you can have restaurant food in the comfort of your own home and for far less. You could also learn how to make your own face masks, cleaning products, and hair products as you’d get to enjoy the benefits of making them from natural ingredients as well as save a lot more.

Saving takes discipline, focus, and some sacrifice but it can be worth it when you reach your financial goals. Without learning how to keep money aside, it is likely that you’ll fall into the cycle of simply working to live and never really having enough disposable cash. For this reason, you should try and find the most stress-free means of saving that works for you and gives you the results you’re hoping for.

Simple Ways to Save on Your Next Degree

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Getting a higher degree can be the best way to expand your personal finances. You can pursue a better job and earn more with the degree. You can even get a degree in any field you want in as little as 15 to 18 months, which means you will be able to boost your career just as quickly.

Getting a degree to boost your career is an even better decision to make today for two reasons. First, the economy is growing at a steady rate; there will be more jobs to fill by the time you’re finished. Second of all, the best degrees don’t have to be expensive. These few simple ways will help you save on your next degree without a problem.

Look for Grants and Scholarships

Many students don’t really look into scholarships, grants and aids because they simply think they don’t have what it takes to get one. It is true that a lot of scholarships are given based on academic merit, but there are also a wealth of scholarship programs and grants designed to help those of different backgrounds.

If you are good at playing a musical instrument, for example, your skill can get you through college. You don’t have to pursue a musical degree because there are scholarships for any degree you are interested.

There are even programs and aid grants for special purposes. You can find a scholarship for people from the LGBT community just as easily as you can find one if you’re a working professional pursuing a master’s degree in your own time. These programs are there to help you boost your career without breaking your bank.

Opt for Online Programs

Another great way to save on your next degree is by opting for an online program. Online degrees are considered just as valuable as offline degrees. They are accredited and hosted by top universities across the country. The Concordia Portland University, a well-known Lutheran university, is a good example of an institution with plenty of majors and degrees to choose from.

Online courses can be up to 40% more affordable than the equivalent offline program. Some courses allow you to save even more than that. Not only can you complete the program without relocating – eliminating moving costs and the costs of commuting to the university – you can also save on other college-related expenses.

Stay on Track

One last simple thing you can do to save on your next degree is staying on track. Most of the time, students spend so much more on tuition and other fees because they fail to complete the course on time. Paired with taking your degree online, you can actually complete the course faster and save even more money in the process.

These simple tips should make the next degree you’re planning to get that much more affordable. With a new degree under your belt, you will be able to boost your career and get that raise you have always wanted.

5 Ways to Save Money at Amusement Parks

By Squirrelers Leave a Comment

Recently, I went on a trip to a major amusement park here in the Midwest (Six Flags Great America). It was just my youngest child and I, taking a 1:1 day at the park just like I did a few years back with my oldest. I recall going to this same park with my parents when younger, so it has some extra meaning to me even though I don’t’ visit often.

We had fun, and it was a great day. The temperature was quite cool for a summer day, at about 68 degrees for a high. At night, it got a bit chilly, actually! However, it was refreshing and actually ended up being great weather to spend a day at the park.

In terms of spending money, I think I did a good job in some areas, and a poor job in others. An example of the latter is my purchase of a snack early in the afternoon. I got a bit hungry, and bought a pretzel with a topping. Yes, I know that isn’t exactly grown-up food – but it’s okay to be a kid once a while, especially when spending the day with one! Anyway, I ordered without checking the price first (extremely unusual for me) and was stunned when they asked for over $8.

Yes, it was over $8 for the pretzel!

So you get the idea, there were some things I could have done differently. But as I said, some things I did well. Anyway, this day served as a reminder to me that there are definitely some ways we can save money at amusement parks. Here is a list of 5:

Look for Discounted Tickets Ahead of Time

In my case, this worked out well. My ticket was a discounted one, purchased ahead of time and not at the gate. My child’s was through his school, where he actually got it as a free ticket via a reading program, if I recall correctly. Anyway, this all helped the total day’s cost be quite a bit lower than it could have been!

Eat a big meal first

Ok, this may sound a bit funny. But do you want to pay over $8 for a pretzel? One, by the way, that tasted terrible and came with an equally terrible-tasting topping?

Imagine doing this for a family of 4. You could be dropping over $30 at once, for mediocre snacks. That’s not to say that they’re all like this, but why risk paying exhorbitant sums for less than stellar food.

We had a good breakfast and an early lunch, but we could have made that a bigger lunch. Lesson learned!

Carpool or Get a Ride

In this case, with 2 of us, there was no need to carpool. However, I got a ride from some people nearby, including one family member who dropped us off. Another person living just one mile away picked us up. Conveniently, near the gate there is a drop off/pick up area. This saved $25!

Carry a Water Bottle

This one isn’t something we did. I’m really not sure why, other than I had it in my mind that we wouldn’t be able to bring anything inside the park. However, it’s good to at least try to bring in a low-cost bottle for the day. Even if you have to pitch it if not allowed in, perhaps you might lose $1 by taking the chance.

Once inside the park, I noticed that vending machines were selling water for over $4. A water bottle, refilled at fountains, would be a lot cheaper!

If Parking, Bring a Cooler with Food for the Car

Obviously, I didn’t do this since I was dropped off. But if you’re parking, bring a cooler with lots of ice and some food. Check first if you can do this, but if you can get stamped for re-entry, you might be able to go to the car and eat a healthy, homemade lunch or dinner instead of eating at the park.

What might cost you $50 for a family of 4 could cost you only $15 if you bring food and drinks this way. Plus, you can make it healthier and more energetic, so you can enjoy the rest of the day!

Bottom Line: You can save a lot of money at theme parks by thinking ahead, and making the right money-saving moves in advance. Perhaps a better way to put it is that you can avoid spending way too much : )

My Questions for You

When is the last time you visited an amusement park?

Have you found them to be very expensive?

What have you done to save money at parks?