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More easy ways to save money

The last post in this topic was posted 1552 days ago. 

 

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I think bringing a sack lunch is one of the easiest way to save 100 bucks a month, but I'd read somewhere that one of the best ways to get grip on your budget is to reduce the "fixed" monthly costs such as

 

Life insurance

Home insurance

Auto insurance

Cable

ISP

Phone land line

Phone long distance

Phone Cell

Mortage

Auto

Electicity

etc.

 

 

For all the insurances I shopped online. I dumped Farmers

they were cheating me big time.

 

Also shopped online for long distance and have a nice

5.5cents/min. in state (TX) rate. Better out of state rate,

but I don't call anyone out of state. Can probalby do better

just using cell phone now as long as I don't go over minutes,

but I'm afaid my wife will go over (yak yak yak).

 

In TX we can switch electricity providers like long distance

companies. Swiched away from the default company and saved

a little 5% to 10%.

 

Auto: I balance transfered an auto loan (4.8%) to Discover

with a 0% APR for life deal (as long as I make 2 purchases

a month. Which is fine because I can make two one dollar

purchases/month and still pay practily nothing in intrest for several

years). Will save about 700 first year.

 

Also routed as many bills as I could thru a rewards credit card

(paid in full each month of course) for another 1% savings.

 

Currently looking for a good package deal for phone/ISP/Cable.

 

Anyone else have any good tips?

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In regards to insurance companies, it's a good idea to review your policies each year in detail to ensure you are not paying for too much coverage.

 

For instance, NYS requires everyone to purchase Personal Liability protection that includes lost wages from a job due to an auto accident. However, if your employer offers you a sick-leave pay program, you will not be able to collect from the insurance company for this coverage. In this case, you could reduce your coverage for PIP by eliminating the loss wages coverage in the plan.

 

Also, consider your financial situation and adjust your deductibles as necessary each year. They make a big difference in how much your policy will cost.

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Auto: I balance transfered an auto loan (4.8%) to Discover

with a 0% APR for life deal (as long as I make 2 purchases

a month.  Which is fine because I can make two one dollar

purchases/month and still pay practily nothing in intrest for several

years).  Will save about 700 first year.

 

Also routed as many bills as I could thru a rewards credit card

(paid in full each month of course) for another 1% savings.

 

I did/do both of these things. That Discover trick has saved me a great deal in interest.

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Auto: I balance transfered an auto loan (4.8%) to Discover

with a 0% APR for life deal (as long as I make 2 purchases

a month.  Which is fine because I can make two one dollar

purchases/month and still pay practily nothing in intrest for several

years).  Will save about 700 first year.

 

Hmmm, I just did a quick calculation and if I do that I'll save $2,300 in interest over the next 4 years. Thanks for the tip!

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Check with your cable co. Mine offers cable/internet/phone. I don't have the phone but by having cable/internet together, I am getting my basic cable for free. The cost is the same. As for cell phone, I was on Suncom Unplan but they sold all VA customers to Cingular. I looked at all my old Suncom bills to see my average mins used, then got a plan slightly higher. Any unused minutes roll for 12 months. Plus call to other Cingular customers are free (most my family) and unlimited nights/weekends. We pay about $80 month for 2 phones, inc equip ins for DH phone since it might be damaged while he works.

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I have to agree on working on fixed costs.

 

I compared life ins a couple months ago and ended up with more coverage at 1/3 the cost. That was a huge savings.

 

Also for cable, I rec'd a notice that my rates were going up (again). I called the company and spoke to the csr. I told them I would not pay the increase, that I'd sooner switch to dish. That got me transferred to a very nice csr who set me up with a promo rate for 12 months. I'm getting cable SO cheap right now :clapping:

 

-LB

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Yes a great savings tip would be if you have a cell phone use it for long distance. Also I know people that don't have a land phone anymore and just use the cell phone. As long as you already have both why not cut out one. Also cuts down on telemarket calls. I can't do that as I have kids that are 13 and 14 that are at home alone sometimes and I feel that would be unsafe.

 

Also look at these little tips that can save money and really add up in a years time. Save $7000.00 in one year.

 

 

ITEM PRICE HOW OFTEN COST P/Y

 

1 bag potato chips $2.00 bag 1 week $104.00

 

 

1-6 pack soda $2.00 1 per week $104.00

 

 

1 liter soda $1.00 1/day $365.00

 

 

1.5 lbs. meat $2.50/lb. 2x week $390.00

 

 

1 gourmet coffee $2.50 1/day $910.00

 

 

Eating out(family of 4) $30.00 1/week $1560.00

 

 

Lunch $4.00/person 20 days/month $1040.00

 

 

Pizza delivered plus tip $20.00 1/ week $1040.00

 

 

1 cup juice/person $20.00 1/week $1040.00

(family of 4)

 

Fruit(Fruit Roll ups) $2.50 1/week $130.00

 

1 box granola cereal $4.00 1/week $208.00

Edited by kellycredit

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I compared life ins a couple months ago and ended up with more coverage at 1/3 the cost. That was a huge savings.

 

Where/how do you shop for life insurance? We both have default policies from work, but I want us both covered enough to pay off the house and have some left over, now that we'll have a little one to consider, too.

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I compared life ins a couple months ago and ended up with more coverage at 1/3 the cost. That was a huge savings.

 

Where/how do you shop for life insurance? We both have default policies from work, but I want us both covered enough to pay off the house and have some left over, now that we'll have a little one to consider, too.

 

 

cold calling and google is how I did it. got some great quotes from the cold calling method :blink:

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I know this is nothing new, but my parents throw all their loose change in a big jar (size of a office water jug). They use that money to pay for their cruises. They usually have enough money saved up within 6 months to a year.

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I know this is nothing new, but my parents throw all their loose change in a big jar (size of a office water jug). They use that money to pay for their cruises. They usually have enough money saved up within 6 months to a year.

 

 

My parents do that too. But everytime it starts getting full, my older brother goes in and steals it and hides it in his room. Otherwise, everyone would be raiding the jar all the time. Bro says he's saving it up so they can have a "honeymoon."

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I compared life ins a couple months ago and ended up with more coverage at 1/3 the cost. That was a huge savings.

 

Where/how do you shop for life insurance? We both have default policies from work, but I want us both covered enough to pay off the house and have some left over, now that we'll have a little one to consider, too.

 

 

 

Yes, please do NOT rely only on life insurance benefits from work -- you do NOT want life insurance that will vanish the moment you lose or quit your job. And people who just assume that they'll pick up a policy if they leave their job -- well you could be diagnosed tomorrow with a health condition that will make you uninsurable for new policies.

 

A good comparison engine is: https://www.intelliquote.com/ -- a follow up from there.

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Auto: I balance transfered an auto loan (4.8%) to Discover

with a 0% APR for life deal (as long as I make 2 purchases

a month. Which is fine because I can make two one dollar

purchases/month and still pay practily nothing in intrest for several

years). Will save about 700 first year.

 

great tip~ I've already have Discover card at prolly 13.9% dunno if switching the auto payment (4900) to this card for a 0% rate could work....I'll give that a try, though!

 

 

Yes, please do NOT rely only on life insurance benefits from work -- you do NOT want life insurance that will vanish the moment you lose or quit your job. And people who just assume that they'll pick up a policy if they leave their job -- well you could be diagnosed tomorrow with a health condition that will make you uninsurable for new policies.

 

A good comparison engine is: https://www.intelliquote.com/ -- a follow up from there.

 

 

thanks for the link.... I'm looking to buy LI, that I can pay a low amount each month. I had a friend who paid annually for a $20,000 LI.

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I know this is nothing new, but my parents throw all their loose change in a big jar (size of a office water jug). They use that money to pay for their cruises. They usually have enough money saved up within 6 months to a year.

 

 

My parents do that too. But everytime it starts getting full, my older brother goes in and steals it and hides it in his room. Otherwise, everyone would be raiding the jar all the time. Bro says he's saving it up so they can have a "honeymoon."

 

 

How do you guys typically cash in coins? Roll them and deposit them at your bank or CU ?

Do you even HAVE to roll them anymore? The last time I cashed in coins - I used the free Coinstars that give you full value on a Gift Card.

 

Ideas ?

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I know this is nothing new, but my parents throw all their loose change in a big jar (size of a office water jug). They use that money to pay for their cruises. They usually have enough money saved up within 6 months to a year.

 

 

My parents do that too. But everytime it starts getting full, my older brother goes in and steals it and hides it in his room. Otherwise, everyone would be raiding the jar all the time. Bro says he's saving it up so they can have a "honeymoon."

 

 

How do you guys typically cash in coins? Roll them and deposit them at your bank or CU ?

Do you even HAVE to roll them anymore? The last time I cashed in coins - I used the free Coinstars that give you full value on a Gift Card.

 

Ideas ?

 

My bank has a machine that you can dump your coins into and take the receipt to the teller to cash/deposit.

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I know this is nothing new, but my parents throw all their loose change in a big jar (size of a office water jug). They use that money to pay for their cruises. They usually have enough money saved up within 6 months to a year.

 

 

My parents do that too. But everytime it starts getting full, my older brother goes in and steals it and hides it in his room. Otherwise, everyone would be raiding the jar all the time. Bro says he's saving it up so they can have a "honeymoon."

 

 

How do you guys typically cash in coins? Roll them and deposit them at your bank or CU ?

Do you even HAVE to roll them anymore? The last time I cashed in coins - I used the free Coinstars that give you full value on a Gift Card.

 

Ideas ?

 

My bank has a machine that you can dump your coins into and take the receipt to the teller to cash/deposit.

 

Yep. Wells Fargo does this. I think you have to pay a % fee if you don't have an account with them.

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My recent money saving implementations:

 

I replaced 20 some odd light bulbs with various CFLs and unplugged a barely used freezer in my basement, my electricity usage dropped 19% in one month, which in Massachusetts amounts to real savings (the payoff is only about 4 months), I got the bulbs cheap from Walmart (standard spirals) and Costco (R30 for the can lights). Any time you can reduce energy usage is a plus to me. The dimmable CFLs suck though, so I kept the standard incandescents in the family room.

 

I dropped Verizon and got Vonage's basic 500 minutes/month service, my highest bill was $21, Verizon was always around $60.

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I used to buy my lunch every day, Mon-Friday 10 dollars wasted on an overpriced lunch. Now that I brown bag it, I take the 50 dollars I would've spent on lunch each week and put it in an envelope.

 

Other than that, I can't say enough about ASP's(Automatic Savings Plans). I remember thinking to myself, "There's no way I can save 10% of my income." But I barely notice. Fast forward to today, I have 30% of my pay dispersed into savings, mutual funds and registered funds.

 

For me, it's the only way I'll be able to save money. Before having an ASP I took my monthly NET income and deducted all my fixed expenses. AMAZINGLY I had about 1300 left over. Where the hell was all that money going?

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Before having an ASP I took my monthly NET income and deducted all my fixed expenses. AMAZINGLY I had about 1300 left over. Where the hell was all that money going?

 

We're in the same situation. $1200 left each month. WTH is it? I was floored!

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Before having an ASP I took my monthly NET income and deducted all my fixed expenses. AMAZINGLY I had about 1300 left over. Where the hell was all that money going?

 

We're in the same situation. $1200 left each month. WTH is it? I was floored!

 

 

It gets piddled away $10 and $20 at a time.

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Before having an ASP I took my monthly NET income and deducted all my fixed expenses. AMAZINGLY I had about 1300 left over. Where the hell was all that money going?

 

We're in the same situation. $1200 left each month. WTH is it? I was floored!

 

 

It gets piddled away $10 and $20 at a time.

 

I agree. Technically after paying bills and buying essentials I should have about 1500 left :)

 

I've managed to move more than half of that to more effective vehicles (Roth savings, EF, and pay down a car loan).

 

The rest... well, we do like to entertain ourselves once in a while. :o

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Before having an ASP I took my monthly NET income and deducted all my fixed expenses. AMAZINGLY I had about 1300 left over. Where the hell was all that money going?

 

We're in the same situation. $1200 left each month. WTH is it? I was floored!

 

 

It gets piddled away $10 and $20 at a time.

 

I agree. Technically after paying bills and buying essentials I should have about 1500 left :dntknw:

 

I've managed to move more than half of that to more effective vehicles (Roth savings, EF, and pay down a car loan).

 

The rest... well, we do like to entertain ourselves once in a while. :lol:

 

Oh I agree wholeheartedly.. after bills are paid ... I have around $1000 left for groceries/gas and incidentals. I'll probably start putting extra on the car and get it paid off in 4 years instead of 5 .. this will mean sending $715 instead of $585

One might think I could do more/better, but it's baby steps for me. Plus, I don't see that $1000 consistently month after month as that's "averaging" those 2 extra paydays a year (due to the fact that I get paid every-other-week) into what is actually left each month. So ~~~ some months are just more prolific than others from a money perspective. My main goal is keeping CC debt to $0 since I paid everything off in May.

That's a CONSTANT battle :huh:

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Another thing. I get paid bi-weekly. 2 months of every year I get 3 pay checks. Somehow those entire paychecks get lost somewhere.

 

This year I plan on putting those ENTIRE paychecks into retirement funds.

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