Fifteen Great Money Saving Ideas and Tips to Survive This Recession

Any expert would tell you to sit down and analysis your current spending habit before considering any money saving ideas and tips. You should do a budget of all your income and expenses and see how much money you have left at the end of the month. Armed with your spending information you should then consider the money saving tips below. Keep a record of how much you should be saving next month and compare the results. It is important that you continue this exercise annually. In the current market it is difficult to know what to do with your savings so I suggest you consider looking at the last money saving idea for a tip that will save you thousands of pounds in the future. Switch to Freeview TV Switch to Freeview digital TV and save up to £200 a year. You will need to buy a Digi-box receiver for around £50. Then you will receive more than 40 free digital TV Channels for free and there's no monthly subscription to be paid. Switching your Gas and Electricity Providers Consider switching your fuel providers it could save you £100's. As a nation we don't like changing our utility providers and as a result our suppliers don't offer us any better deals. They use their cheaper deals to entice new customers. Use a Comparison site to find the best deals around for your Gas and Electricity. Cheaper Telephone and Broadband bills Shop around for cheaper telephone and broadband suppliers. Many providers offer cheaper dual packages and low-cost dial up services as well as cheaper line rental. Use a Comparison site to find the best deals around today. Reduce your Mobile Phone costs Consider switching your mobile from a monthly contract to a pay-as-you-go scheme if you don't use your mobile a lot. If your family all have a mobile phone then you should consider a package with all the phones included. Make sure that you all share the number of call minutes and the texts each month. There are deals around that will provide you with new phones within the package and they will allow you to alter the number of texts and call minutes each month. Shop around for Better value Insurance Cover Shop around for cheaper Car Insurance, Building & Contents Insurance and Life Insurance. Remember everything that glitters is not golden. When looking to rebroke or change Insurance providers you need to compare like with like and not on price alone. Always look for the same cover and definitions for each Insurance policy or a better policy for a cheaper price when looking to change providers. The cost of life cover only Insurance has reduced due to the fact that we are all living longer and the unthinkable has happened Life Insurance policies have become cheaper. If you have any Critical Illness Insurance cover then tread very carefully and use a mortgage broker to rearrange a cheaper policy for you. The reason for this is the Insurance companies have changed many of their Insurance cover definitions and the number of conditions that they will cover. For peace of mind you should use a mortgage broker for protection. Should they change a good policy for an inferior policy then you could claim compensation for negligence. Food Shopping 1.Always make a list and try not to deviate from your shopping list. 2.Don't take your children or husband shopping as you will probably find it really hard to say no when they ask for something and they will only increase your shopping bill. 3.Have your supermarket shopping delivered, it's a great way of ordering what you need to maintain your weekly budget. 4.Try and cook all meals from fresh, they are healthier than ready made meals and more nutritious. Invest in a cook book if you lack inspiration or knowledge. 5.Look for a Farm shop with a butchery attached; our local Farm shop sells half a Lamb for £20 and half a Pig for £30 they are already frozen ready for the freezer. What a bargain! 6.Consider using the supermarkets own-brand products as they are often the same or similar as branded products without the brand name and price tag. 7.When last did you shop at your local market? The food is generally cheaper and fresher from your local market as they have lower overheads and can therefore pass on the savings to you. 8.Use the discount supermarkets like Asda, Aldi and Lidl. There are big savings to be made here. Don't worry about shopping here; the food is quality and the car park is full of expensive cars, which suggests that everybody is shopping here - rich or poor. Always ask yourself whether or not you really need a product or service and always consider alternatives. Don't be enticed to buy the special offers like, buy-one-get-one-free promotions or the 30% off discount offer. It's not a bargain if you don't need it in the first place. Remember a bargain or an offer is either priced to get rid of stock quickly for a reason or it is priced into the product to start with. Save money by Buying in the Sales Clothes we all agree are cheaper if bought during shop sales. It's possible to save a hundred pounds or more on a designer evening dress or a suit or any other type of clothing. Sometimes we just need to be patient and not be impulsive when deciding to buy items. Slowly, slowly catch a Bargain! Have a look in the charity shops. You will be amazed at the designer clothes and the quality of some of the items they have for sale. Always check on eBay for anything that you are considering buying, people all over the country sell clothes that are new or nearly new and have either never been worn or are nearly new. There are some real bargains to be had if you are willing to spend the time searching. Recently there have been some swap sites being launched on the internet to swap designer clothes for cash or other garments. Consider Shopping Online The internet has grown rapidly over the past five years and you can buy just about anything while sat at home in a comfy chair. You can use the comparison websites to search out the cheapest price for the item that you are looking for and you can compare one brand with another without leaving your chair. Are you claiming all your allowance. Many of us don't know what benefits and tax credits we and our families are entitled to when it comes to claiming for Pension Credits, Child Benefit, Child tax Credits, Working Tax credits, etc. It is reckoned that around £8 billion a year is not claimed by people who are entitled to claim benefits. Prepaid Credit Cards I love this idea as it gives you all the benefits without the credit card balance and you cannot overspend on it. To use a prepaid credit card you need to transfer an amount of money onto the card first before you go shopping. I guarantee that you will only spend what you can afford. This is a truly money saving product that everybody should have. Quit Smoking If you are smoking 20 cigarettes a day then you will be spending around £2,117 a year or more. This is a mind blowing amount of money and it will just be going up in smoke. Now look at the benefits to your health and the health of your children, family and friends. We found when my wife and I gave up smoking that the house smelt cleaner and fresher. Our home does not need painting inside as often anymore, which is now saving us a small fortune as we don't need to paint as often. Just think if you packed in the weed, you and your family could enjoy a foreign annual holiday each year. You could choose to overpay your mortgage and finish paying it earlier. Alternatively, you could choose to save the money over the next twenty five years and save £52,925 plus any interest. Wow! What are you waiting for? One persons junk is another's pride and joy Consider selling anything that you haven't used in the last two or three years. This is a pretty good indicator of whether or not you need it or not and if you have not used it the chances are that you don not need it. Sell it for some hard cash on eBay. Annual Holidays This year is an exception compared with previous years when we were all going to America and other exotic holiday destinations. Now we find that our money in America won't go as far as it did last year due to the exchange rate. Our European holidays have also just become more expensive due to the exchange rate. America is now 25% more expensive and the Euro is nearly on a parity with the Pound. So why not have a holiday in the UK and support our economy. At least your money will be worth the same and you will save on the cost of holiday travel. You would be surprised at how beautiful our island is. Savings If you are fortunate to have any savings then your need to search out the best Individual Savings Account (Isa) accounts. You can also chose to save up to £850 per month split between the two types of accounts. An Isa provides Tax-free savings and a saver can invest up to £10,200 into an Isa each tax year irrespective of whether you are a low or high rate taxpayer. Under the new provision announced by The Chancellor Alistair Darling in the last budget you can be put £5,100 into a cash Isa or a saving account and £5,100 can be invested in stocks and shares. You can withdraw your money at anytime as long as you have not locked them into a fixed rate deal, once the money is withdrawn you cannot return it and if you withdraw during the year you will lose the tax-free incentive and the money will become taxable in the year you with draw it. If you are a lower or high rate taxpayer then you will not pay any tax on the money invested in an Isa each year. Under normal circumstances you would pay 40% on the interest received from other saving schemes. If you are a lower rate taxpayer then you would pay 20% on the interest received from other saving schemes. Your Mortgage At present your only hope if you have any savings is a maximum return of 1.5% per year - this is appalling and outrageous! So why not over pay your mortgage which will be on an interest rate of 4% to 7% depending on your mortgage deal. By overpaying your current mortgage will save you many thousands of pounds in interest and you can choose to reduce the term of your mortgage as well. Imagine paying your mortgage off two or three years early. If you paid £500 per month and you were to overpay your mortgage and you paid it off three years earlier you will save £18,000 plus the interest you would not be paying in the last three years. This saving could ultimately be worth around £21,000. Contributing author Mark Aucamp has been providing Talk Money Blog with regular Money Saving Advice advice and comments. Mark has extensive experience in providing Debt Management, Best Mortgage Advice and solutions. He is recognised as an authority in the field of debt management and mortgage advice. Find out how to clear your credit card debts [http://finance-claims-checker.com] legally! Article Source: http://EzineArticles.com/?expert=Mark_Aucamp Article Source: http://EzineArticles.com/2351799

Money Saving Advice - Sixteen Ways to Save Money on Your Gas and Electricity Bills

We have just had the worst snow in twenty years last month which brought some parts of the UK to its knees. The Bank of England is trying to control deflation by reducing interest rate to one percent and still the prices for certain imported foods and energy costs are rising. Everybody is now feeling the fallout of the credit crunch and the recession is starting to take victims. Last month I noticed the biggest jump in my gas and electricity costs so I called my provider. They informed me that the costs were about right for the size of house although my gas was a bit high. My Gas and Electricity bill had jumped to £282 per month. (Ouch!) Am I being mugged by my utility provider? It certainly feels as if I am being mugged by my utility provider and the gas and electricity that is being supplied to my home is providing free gas and electricity to the rest of the homes on our development. At least Dick Turpin wore a mask when he was robbing the public. So faced with increasing utility costs I put on my money saving expert hat and started to investigate how I could reduce my gas and electricity costs. Government Grants website You could use the Government Grants website which provides a source of information for UK grants for gas central heating, loft insulation and cavity wall insulation. Government grants from 40% to 70% are available to homeowners and tenants for loft and cavity wall insulation. These grants are funded by the utility companies and are non-refundable. These grants will not be around forever and once the funding that has been allocated is exhausted they will finish. They also offer a solar heating grant of £400 towards the cost of installation of solar panels which cost around £4,000 depending on the size of your home. If you do not meet their eligibility criteria for free insulation, then grants from around 50% are available for loft insulation and cavity wall insulation, so you can still achieve a massive saving on the normal cost. The Governments' Energy Saving Trust Website I also discovered that there were grants available to help us implement energy saving measures and help reduce our carbon foot print. The Governments' Energy Saving Trust website provides grants and they have a wonderful search tool to help you find grants or offers that are available for you in your area. All you need do is complete the questions asked on their search for grants and offers page. You will then be presented with a list of providers offering discounted prices or grants in your area. This is a brilliant site and is packed with great advice and help for saving energy, saving money and reducing your carbon dioxide emissions from your home. What Savings can I expect from loft and cavity wall insulation Our homes lose 35% of their heating through the walls and 25% through the roof. At the Governments Energy Saving Trust website they have an Energy Saving House where they show you a full range of energy saving measures. For example by insulating the loft and having cavity wall insulation with a grant you could reduce you're heating bills by around £365 a year and reduce your home's carbon dioxide emissions by up to 1.5 tonnes. You can complete their online Energy Savers report which allows you to understand your homes energy efficiency performance to reduce your energy use and how to save money. The average cost seems to be between £225 to £249 for either cavity wall insulation or loft insulation depending on the size of your home. Although I did find that B&Q the DIY store was charging £199 for either cavity wall insulation or loft insulation depending on the size of your home. If you are over 70 years old you can receive loft insulation and cavity wall insulation for free from the Energy Saving Trust or the Government Grants website. Old central heating boilers are inefficient Changing you're a central heating boiler that is over ten years old will reduce your gas bill as it is thought that these older central heating unit are only 70% efficient. This means that for every £1 of gas that you buy your old unit wastes 30pence of the money you pay for your gas. Add some heating controls taps to your central heating radiators and they could help save you a further 17% of your heating bill when fitted with a condensing boiler along with an upgraded heating control and you could be looking at a total saving of as much as 40% of your heating bill providing a saving of £275 a year depending on the size of your home. Sixteen ways to save money on your monthly utility bill To summarize here is a list solutions and other money saving tips that are available to help you reduce your gas and electricity bill. The grants and discounts available will vary according to the size of your home, your location, your annual income and your age. 1. Grants for gas central heating depends on age and benefits being claimed 2. Grants and discounts for loft insulation from £199 3. Grants and discounts for cavity wall insulation from £199 4. Grant of £400 towards the installation of Solar panels 5. Replace existing light bulbs with Energy Saving Lightbulbs, they cost around £2 per bulb and you could expect to save around £45 before it needs replacing. These bulbs use 80% less electricity and will last ten times longer than a standard light bulb. Count the number of bulbs you need and see the savings. 6. Update your Central heating unit if older then 10 years. Consider either a condensing boiler along with an upgraded heating control unit or replace it with a Combi Boiler as this will do away with a conventional hot-water storage cylinder and water tanks in the loft. Costs from £2,000 7. Add heating controls tap to all your radiators, they cost from £7.99 each 8. Switch Utility providers for a better deal. 9. Switch your gas and electricity providers to a duel fuel provider if you have not already done this for further savings, save around £115 10. Pay your utility bills monthly by direct debit for a further discount from your provider. 11. Switch to an online account with your utility provider. You can now read your gas and electricity meters monthly and update the information for an accurate bill. This will prevent over billing from estimated assessments of your usage. 12. If you are on a coin operated meter for your gas and electricity then consider switching as you are paying a premium for this facility. 13. Switch off all light switches and plugs when the appliances are not in use. 14. An estimated £910 million is wasted in the UK every year by people leaving televisions, computers, TV set-top boxes and radios on standby. 15. Use a timer to turn your central heating on and off as required. 16. Consider switching to Energy Saving Recommended household appliances as they could cut your energy consumption by up to a third compared to your old appliance. Obviously only do this as you replace broken or old appliances. For further ways of reducing your gas and utility bill then you should visit the Energy Saving Trust website where you will find a mountain of further money saving ideas and help. Anyone can reduce their Gas and Electricity bills Anyone can reduce their Gas and Electricity bills by at least 20% following the sixteen ways to save money listed above. Unfortunately, like most things you need to spend some money to save money; but the rewards will return each month. By implementing a few of these money saving tips at home you will certain reduce your gas and electricity bills in the future and save money. You're thinking I cannot afford to make all these changes. Start with the changes that cost the least and then work your way through the list above. Remember by making these changes you will not only save money each month but you will be helping our planet HOME by reducing your carbon dioxide emissions. Contributing author Mark Aucamp has been providing Talk Money Blog with regular Money Saving Advice advice and comments. Mark has extensive experience in providing Debt Management, Quick Mortgage Advice and solutions. He is recognised as an authority in the field of debt management and mortgage advice. Find out how to clear your credit card debts [http://finance-claims-checker.com] legally! Article Source: http://EzineArticles.com/?expert=Mark_Aucamp Article Source: http://EzineArticles.com/2063410

A Proven Money Saving Tactic Exposed

Most people don't think about systems when they are looking for ways to save money. In fact most people don't think of systems as a solution to many issues but businesses of all sizes know the value of a good system and use it whenever possible in their day to day operations to be efficient and save money. So what does this mean for those who are looking to save money? It means that if you can create, find or even buy a good system, you can save time and money over the long run. If we consider that a good system not only documents the best purchases but as an added bonus it removes a lot of the guess work and brings some certainty to what you do eliminating trial and error with the cost it brings and gives you a guide that insures you have taken the shortest and generally most cost effective route. Let's look at the process of creating a system that will save you money. One way to create a system based on the routines of someone who saves money doing the things you do. So if you know someone who is more frugal than you are, regularly, they are a good starting point. Find out where they shop and the things they do to save money. If you don't have someone you can turn to you need to base your system on research. Creating your own system from research is a little more work but once you have it made you can benefit from your system for a long time. To start record any specific things you do that save you money? Make them the starting point to your system. If you buy coffee on your way to work, find the least expensive place to buy it and make that part of your system. Then you need to do some research. Research whether you have the time to make your own coffee in the morning and determine whether it will cost more than buying it because you have to make a whole pot just for one cup. Once you determine which saves the most money that's the one you should be putting in your system. If you don't know which is more cost effective, try each and choose the lowest cost choice. Search the internet and forums for money saving ideas and record each one that applies to you. So if you have to do all this research, where is the benefit? The first benefit comes from the fact that you are paying attention to the costs of what you do. This alone can help you save money. You are also actively seeking the best cost savings you can, which will get you in the habit of looking for ways to continue improving how much you save. You also have a recorded history of where the cheapest places are in case you forget. You can guide others to the best places so they save money too. Once your system is in place you have the ability to relax a little knowing that you and others that spend your money have a guide to saving money when they can. The bottom line is that systems work. That is why successful businesses use them. Systems also lend themselves well to planning. If you have a system, it is easier to plan your spending and borrowing and know you are getting the most out of your money. On a final note. If you feel that a full system is too much or too restricting for you. Then don't look at it like a system. Consider it a good set of habits. Make it a habit to save money, develop as many habits as you need to make your saving effective. Then write down those habits, that can be your system. Writing them down just gives you a way to remember them in case you haven't used a particular money saving tactic in a while. Don has been a financial consultant for over 20 years and tries to provide valuable information for people in difficult times. As someone who has been there. He supports any way that people can use to get their lives back on track and possibly even make the money they need to make it through rough times. Article Source: http://EzineArticles.com/?expert=Don_Lester Article Source: http://EzineArticles.com/1901537

25 Money Saving Tips

In these times we are living in finances are tight and many of us are desperately trying to find ways to save money. It is a time when people are being laid off, receiving pay cuts, and trying to raise families on low income. Of course soaring gas prices do not help either! I hope that these money saving tips help you as they have been helping our family! Money Saving Tips Shop Second Hand. I have to admit, I had a hard time with this at first, however, I see the value in it now. Who says we have to have "new" clothes? There are a TON of great second hand stores out there with awesome styles. When I took my teenager to a second hand store we have here in town, she was very excited as she looked through the racks. Why? Well, the prices were SO low that she realized she was going to get a LOT more than she normally does! She understands the concept of getting more for your money! Now, she has a wardrobe of beautiful clothes that are perfect for her style. The best part, we only spent fifty bucks! I also saved a bunch of money on my toddlers clothes! She got dresses and shorts and outfits galore for 30 dollars!! Ho cool is that?? Note: We do not buy undergarments at second hand stores...Only clothing. Another great tip for second hand stores, is that YOU can sell YOUR clothes there and make some easy money! When the kids out grow their clothes, take the ones that are still nice to the resale store and "recycle" them for cash! E-Mealz.com. This cool site helps you make a food list for shopping. You choose the store, and THEY provide the plan. It saves you a ton of time to let THEM think! They find the best prices for items and make your plan based on that week's sales at the store you picked. The Grocery Game or couponmom.com. These coupon sites go very well with the emealz site. You can get the coupons for the plan that emealz came up with! VERY cool! And, you will save time AND money! Hot Water Heater. You can save money each month simply by setting your water heater temperature to a lower temperature. Or, you can buy a hot water heater timer at home depot for the same results. Blockbuster or Netflix. This is a great way to save money and TIME for entertainment. The fees are quite low and the movies are delivered to your home. Library. You can get FREE movies and music "rentals" at your local library. Starbucks Lovers. You can save 10 cents if you bring in your own cup! Does not sound like much, but if you get coffee there in a regular basis, it can REALLY add up! Energy Audit. Call your electric company and request an energy audit. Most of them do it for free. They will tell you where you can make adjustments to save money on your bill each month. Plus, in many cases, they will give you some freebies (light bulbs, etc). Rate Reductions. Call your cable or phone company and tell them that you would like a rate reduction. Shop around for better deals and let them know you have been. They will want to keep your business and in many cases lower your bill a bit. Or, at the very least offer you some incentive. Employee Discounts. USE them. Know them. Oh, and USE them! Sale Papers. Read them and LOOK for sales on items you need to buy. Research for the best deal. Clipping Coupons is another great use for sale papers! Leftovers. Make meals that can also be used for a great "leftover" meal the next day. Conserve Electricity. Shut your lights off during the day and open your blinds. Turn off lights when room is not in use. Keep the air on 78 degrees during the day. Open your windows and use ceiling fans as much as possible. Wash with cold water. Just a few changes can really LOWER your bill. Prescriptions. Go to Walmart. They offer very low prices on MANY prescriptions. Oh, and for those of you who are near a Publix supermarket, they give FREE prescriptions for several popular antibiotics. Dollar Movies. Why spend big bucks to see a movie? If you wait just a few more weeks, you can see the SAME movie on a big screen for a buck or two! Dollar Stores. They have many cleaning and household items that you can get instead of paying full price. Car Pool. When possible get together with other who work with you, and car pool. You can also take turns picking up your kids from school if you do not work outside the home. You will save gas money. Garage Sales. This is a great way to find some furniture items you need. Some people find great treasures and then sell them on eBay. Not only can you SAVE money, you can MAKE money if you so choose. Shop After Holidays. A great time to buy gifts is AFTER the holidays! If you wait till after many holidays, like Easter, Christmas, etc...you will find great deals. Obviously, not on perishable items, however, you can find perfume, gift sets, and MUCH more for 50-75% off. Put them in your closet, and give them as gifts next year! Store Brands. Buy store brands as often as possible. On most cases they have the EXACT same ingredients and/or quality as "name brand." Name brand is nothing more than commercialization. They are no different. Maybe we are watching too much TV??? LOL! Shop Online. You can find a TON of deals AND get free shipping JUST for shopping Online. Amazon and eBay. You can get incredible deals shopping at places like eBay and Amazon. Use and New. I buy most of my books through Amazon used. I save a TON of money that way and even though they are used, they really do not appear used when I get them. Oh,and yet again, this is another venue to make money. Sell YOUR used books on Amazon! Eat In. Eating out costs a LOT of money. Get out of the habit and get more creative with your cooking! You will not only save money, you will make your family happy! If you work outside the home and you go out to lunch, try bagging it! Think about it this way...You are literally flushing your money down the toilet! Restaurant Savings. If you MUST have your out to eat treat sometimes there is still hope for you! Many places offer kids eat free nights. Take advantage of them when you want to have an out to eat treat. Applebees has it on Sundays, Fazolies and Roadhouse have it on Tuesdays. There are also quite a few restaurants that offer free meals and/or discounts on your birthday. Call around and find out which ones have the best deals. Drink more Water. It is MUCH healthier for you than soda, tea, or coffee. Plus, it's FREE! If you do not like your tap water, invest in a filter. Water is the BEST thing you can drink and most people do not drink enough of it anyway! You will be SHOCKED at the amount of money you save each week by simply eliminating the unhealthy sugar filled drinks from your diet! Oh, and your waistline will not complain either!! LOL! As you can see, there are MANY ways to save money. This is by no means even the tip of the iceberg on the amount of money you can save if you set your mind to it! Happy Money Saving! Copyright © Lara Velez, Moms of Faith, All Rights Reserved. NOTE: You may use this article for reprint ONLY if you DO NOT change the article in ANY way, AND you keep the source and Author's bio IN TACT with ALL links ACTIVE! You may NOT add "no follow" tags to the links. Period. About the Author: Lara Velez is a Christian wife and homeschooling Mother of two. She is a published writer, web designer (http://designedbylara.com), and Mom of Faith (http://momsoffaith.com) She enjoys cooking, writing, scrapbooking, and web design. Article Source: http://EzineArticles.com/?expert=L._Velez Article Source: http://EzineArticles.com/1488751

Money Saving Tips

It is easier to hang onto the money you have than to make more of it. When individuals or families find their bank accounts short the first response is often to look for ways to make more money. The better alternative, however is to save the money that comes in and spend wisely what does need to go out for basic expense. The following are a few ideas for saving money: Home Owners Insurance Homeowners insurance is an essential component of responsible home ownership. It protects you from losses sustained in fire, storm, theft, and other events specifically outlined in any policy. As with any expense it is wise to shop for top value at minimum price. To understand the coverage so that a consumer can compare like items it is helpful to understand the terminology used in writing insurance policies for homeowners. There are five basic components to homeowners insurance; Personal Property, Dwelling, Medical Coverage, Liability, Loss of Use. · Personal Property pays for household items such as furniture, appliances, and clothing are damaged, destroyed or stolen from your home. · Dwelling insurance covers the structures themselves. This usually covers the house and any other buildings such as a detached garage or storage buildings on the property. · Medical coverage pays the medical bills for individuals injured on your property. Since a dog is considered property of the owner, the homeowner is also covered should their dog bite someone, even if the bite occurs at another location. · Liability pays out when you are found liable for a personal injury or someone else's property is damage. For example, if a dead tree in your yard falls on a neighbor's house and you are deemed negligent because you didn't remove the tree your policy covers that. · Loss of use often pays up to 20% of the insured value of a home while your home is uninhabitable during repairs. Be sure when you contact the insurance companies that you are clear about what they do and do not cover and the amounts they cover. Inquire about deductibles and any special provisions such as exclusion of types of damage endemic to a particular area such as earthquakes in the California Bay Area, or hail and wind damage on the Gulf Coast. Before you shop for coverage, determine the highest deductible you can afford. The deductible is the amount of money you will have to pay before the insurance company kicks in and pays the rest. Investigate the company's financial rating, which is an indicator of its ability to pay your claims, and its complaint index, which indicates its willingness to pay your justified claims in a timely manner. You can get this information from your state's Department of Insurance Carriers. The insurance is no bargain if it does not provide the coverage you need or folds financially at a critical moment. The key to savings here is to examine the policy carefully, know what you need and how much you can afford to pay in deductibles. Renters Need To Protect Investments Most people might not think of furniture, appliances, and household goods as an investment, after all, most of them depreciate over time. While it is true that these items do depreciate, what would it cost to replace these items, especially all at once? Renters have an interest in securing financial protection from loss of their household goods due to fire, flood, or theft. For a small fee an insurance company, often the same one that insures your vehicle, can provide coverage for your household contents as well. Speak with several insurance agents and find out what kind of coverage their company offers, how much it cost, what the deductible is, and if the payments are for replacement cost or value. Though it may cost a bit more, replacement value covers the expense of replacing the items with new ones comparable on today's market. Some policies only pay for the current value of an item, on top of which you must pay the deductible. In that case, there may be no payout at all. Get the best coverage you can afford with a reputable and stable company that has good reviews on file with the state board of insurance. You owe it to yourself to ensure the value of long term investments like bedroom suits, leather furniture, and appliances designed to service a family for years. Your Paycheck Most people find that each paycheck with a raise disappears as quickly as the paycheck they received before the pay or cost of living raise. It is peculiar that no matter how much money one makes it all seems to get spent. To counter that trend several contemporary authors have advised implementation of various savings plans. One way to put money aside it to never acknowledge a ay raise. When your paycheck increases, bank the difference between the usual amount and the increase. With the next raise after that, bank at least half of that as well. You don't miss what you never had, so this is a fairly painless way to save money. What about that tax refund? Spend it? Save it? Well of course it makes sense to put that cash aside for emergencies or to go toward saving for a long term purchase goal. It is easy to think that you 'just have to' buy something with that money when you know it is coming, but if your have it direct deposited to your savings account you will never see it, and hopefully not be tempted to spend it. Another paycheck bonus is that fifth week in the month where you get an extra paycheck. If you are paid weekly or bi-weekly, that extra check should be set aside in savings. Your monthly rent does not increase with that fifth week, and your car, phone and utility payments are monthly too so there is no reason to expend that money on anything other than long term savings goals. Even making an extra payment on the house note is a good use of the money. Or pay off the credit card bill with the highest interest rate, then close that account. Home Purchase Be a smart investor, before buying a home be sure it will appreciate in value by evaluating the neighborhood the home is in, and the quality of workmanship on the home itself. In addition, savings can be built into the mortgage or added on as they become feasible. Of course you negotiate the best possible purchase price on a home, but the haggling doesn't end there. Now get online or on the phone with mortgage lenders. Shop for the lowest possible interest rate. You can often get a better deal on interest by paying down the principal with a bigger down payment. If you can put down 20% and have good credit, the terms should be good. If you can put down even more money, sometimes the mortgage company will allow you to pay down the points on the loan or give you a lower interest rate. If you don't have that much money in savings you might be able to borrow a small amount from family at a lower interest rate than the mortgage company can offer. In that case taking out a small loan in this way will be of benefit over the long run as the interest rate on the 80% financing will pay off handsomely in savings. Another option for saving money on a home is to get the loan for 15 years rather then the traditional 30-year mortgage. That saves the interest that would have been paid on the balance for half the life of the loan, yet increases the monthly payment by only a couple hundred dollars. What if you don't have that much in savings, your credit has a few blemishes, or you can't afford the higher payment that goes with a15, rather than a 30-year mortgage? You can still save a bundle on your house by paying the monthly note in two installments. Pay twice a month, once on the first, then again on the 15th. Make each payment half of what the monthly payment totals. If you do this over time, you will save on the amount of interest you would have paid on that portion of the payment that came in early. It is also worthwhile to make at least one or two extra house payments each year. With the money saved by not buying impulse or unnecessary items, a decent amount of money can collect for payment toward the extra house payment. This truth should be evident, it is easier to save the money you have than to make more of it. So save what you can and spend wisely what you must. Mike Harris http://www.outtadebt.com Other topics: http://www.outtadebt.com/payday-loan.html, http://www.outtadebt.com/slash-n-burn-savings.html Article Source: http://EzineArticles.com/?expert=Mike_Harris Article Source: http://EzineArticles.com/130732