Save Money

Pay Bills On Time To Avoid Late Fees

Banks and credit card companies are having a field day with fees and penalties for late payments. Many banks will clear your largest purchases first and cause a chain reaction which racks up fees as high as $35 per transaction for amounts even under a dollar. This is reprehensible but legal and it happens all the time.

Credit card companies have a different way of hitting your pocketbook. If you make a payment late by even one day, they revoke your low promotional rates and up your interest in many cases to above 20%. And a late payment to one credit card company can spark a chain reaction where all your interest rates go up, that is no way to save money. In addition, they will lower your available balance in hopes that you will go over your limit and allow them to tack on even more fees.

Many other companies charge late fees as well. Be aware of their practices and keep on top of due dates. Some companies will waive fees if you ask but generally only the first time.

Shop For Insurance

Shop around and get quotes from competing insurance companies. Rates can vary by as much as 25% so it pays to shop for insurance. Some insurance companies will give you quotes online. Progressive will give you their quote as well as quotes from other agencies so you can compare.

Cook At Home

This is the most overlooked and easiest way to save money, but it does take extra time.

Make your own coffee as well, skipping Starbucks can add plenty to your pocket over the long run and since you can buy their coffee from retail stores, why pay the extra for them to make it?

If you have a craving for your favorite restaurant foods, try this recipe book. It has loads of your favorite restaurant recipes and you can even make your own Twinkies.

Maintain Your Vehicle

Your present vehicle may have plenty of life left in it and there is a balance between paying for repairs and the payment on a new vehicle. Doing regular maintenance on your vehicle goes a long way to keeping it running better and for longer.

Checking your tire pressure frequently can save you hundreds in tires as well as fuel costs. Yes, low tire pressure does translate in more money at the pump due to added friction which creates a drag on the engine and makes it burn more fuel.

Keeping your oil changed and getting your car lubed regularly all add up to a longer vehicle life and better fuel mileage.

If it becomes necessary to purchase a new car, consider a used vehicle instead. A new car depreciates significantly upon purchase. Buying the right used vehicle can keep more money in your pocket each month. Don't give in to impulse on car purchases.

Use Carfax to check out any used car you are thinking of buying. . Another option for purchasing a vehicle is the auto auction. There are many public auctions and prices are generally better than used car prices, but you lose the chance to try out the vehicle and there are usually no guarantees or warrantees.

Use Libraries and Online Video Rentals or Redbox

Public libraries can save you money each year if you are a reader. Most libraries, even in the smaller towns, are now linked to larger libraries and can find you whatever book you want to read and most libraries have collections of movies on both VHS and DVD available to borrow.

Online video rental memberships such as Netflix or Blockbuster allow you to rent a specified number of movies at a time with a flat monthly fee. With Netflix you may have as many as 8 movies out at a time and they also have an unlimited plan where there is an internet connected Netflix ready device connected to your TV and you can watch as many movies as you want.

Redbox is a movie rental vending machine which can be found in many grocery stores and pharmacies nationwide. You pay $1 plus tax for each day you keep the movie. If you like to go to the cinema, check for discount ticket times, usually before 6pm.

Many cinemas are offering incentive program cards. You can earn free popcorn, drinks and even tickets.

Be Aware Of Your Electrical Consumption

Did you know that many of the appliances in your home that are plugged in are using electricity even when you are not using the appliance?

Televisions, modems, cable boxes, DVD players, video games, cell phone chargers and even some toasters use electricity when turned off. This is called standby power and it constitutes up to 5% of the average American's electric bill.

Unplug when possible and there are some devices on the market now that will automate that for you, but using a simple plug bar and switching it off will show up as savings in your electric bill. Be aware that if you are a satellite television subscriber with a DVR you will not want to switch the box off or you will lose your ability to record to the DVR when you are not watching.

Plan Vacations Ahead Of Time

Last minute travel is expensive and a family vacation can drain a budget. Booking ahead of time not only saves hundreds but keeps last minute surprises to a minimum.

Consider renting an RV as an alternative to hotel and airfare. If you can't book ahead, there are several travel sites that will help you get discount tickets and hotels like Orbitz and Priceline.

Save For A Vacation the Easy Way

Here is an easy way to save some money toward having a vacation. Start by saving all your change. After 3 or 4 months, start adding all your dollar bills to the pot. The last few months add in all your five dollar bills and by the end of the year, it will have added up to the beginning of a vacation fund.