We’ve created a list of the best practical money saving tips, start below:
- Get competitive car insurance quotes and make sure that you have good health insurance.
- Clip coupons at Coupons.com, SmartSource and PrintableGroceryCoupons.net.
- Buy generic as much as possible. Many generics are exactly the same as brand names.
- Get a mortgage refinance quote to see if you pay too much for home payments.
- Buy in bulk and get rewards cards at the supermarket. (love Costco AMEX rewards card!)
- Insulate your home and use fans and ventilation instead of AC.
- Create a budget.
- Use Skype.com if you talk on the phone a lot, especially internationally.
- Travel cheap. Stay at hostels, Couch Surf or Air BnB.
- Pack lunch and bring coffee to work.
- Have a drink at home before going to the bar.
- Get a rewards credit, forget debit cards (it benefits the bank, not you!)
- Invest your money. Vanguard is a good place to start.
- Get a credit report at AnnualCreditReport.com, the government sponsored credit reporting website.
- Ask for a discount on large purchases like a refrigerator or dishwasher.
- Take advantage of federal tax credits for energy efficiency with Energy Star.
- Use the library. They have plenty of books, CD’s and DVDs.
- Don’t follow your impulse. If you feel the urge to buy something, wait a few days and see if you still want it.
- At the grocery store look down. Items below eye level are often cheaper.
- Print a grocery list and stick to it.
- Take up hobbies that don’t cost money.
- Set the thermostat when you’re not home to save energy. (recommend a programmable)
- Use open source software. It’s free and usually as good. For example use Open Office instead of Word or Excel.
- Quit smoking. This calculator shows you how much you could save.
- Buy a quality used car instead of new. A new car is worth thousands less as soon as it leaves the lot.
- Cut credit card debt. A $20 shirt could cost $80 with fees and interest, pay your credit card bill on time.
- Donate and have yard sales for the stuff that you don’t use.
- Watch for fees. They are rampant; bank fees, atm fees, cash checking fees, late fees. These can add up over time.
- Try to get a bargain on everything (cable, phone, internet – go for bundled package)
- Instead of buying things new, get them used or for free on Craig’s List.
- Any finally…utilize bargain websites to save money, check for best prices and coupons codes.
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Here are a wealth of Money Saving Tips videos to help you squeeze more out of your paycheck: