Keep Your Hot Water Tank Hot!

Need another money saving tip? How about your hot water tank. Whether you have gas or electric, it takes a toll on your bills every month. As the water heats up, the temperature reaches the set level and then slowly starts to lower again. This causes the heating element to re-engage and heat the water back up. Every time the water needs to be re-heated, you lose money.

A good way to help this problem is to purchase a hot water heater insulation pad. You can purchase one at most hardware stores. You simply wrap it around your hot water heater and tape it up. It comes with tape to secure it to your heater, but you’re going to need more. The tape has a tendency to heat up in the summer and make the glue slide. This’ll make the insulation slide off of the water heater. Use a large amount of tape and make sure the blanket is secure.

Keep Track of your Finances by Writing them Down

Everyone knows how easy it is to spend money. Once you get a paycheck in the bank, it’s easy to start using your debit card and lose track of how much you spend. A good way to help you not lose track of your finances is to keep an ongoing record. Every time you buy groceries or pay for a movie, go ahead and write it down. Once you have more than one purchase, start adding the numbers together. Keep adding to the total every time you use your card. This will put the total you’re spending right in front of your face. Seeing the financial result of your constant spending will really get you to think about things before you buy them. You’ll start to save more and have cash in the bank for the day that you REALLY need it. Start writing!

To Shop or Not to Shop

Many people are living on a shoe string budget these days. But luckily there are some ways to shop on a dime without completely sacrificing style.

· Pay attention when stores are having sales. Immediately walk to the back of the store to check the sales racks. Stores often keep sale items in the back so that customers will be more likely to see items that are not on sale first and will be more inclined to purchase those too. But do your best to resist the temptation.

· Discount stores such as Ross and Rugged Warehouse offer amazing deals on designer finds. Of course, be prepared to search through the racks to find anything good and often items will have holes, so inspect carefully before making a purchase.

· Websites also offer some great discount choices. Many sites will also offer customers free shipping with a purchase of specific amounts.

· There are discount designer stores that offer beautiful clothes at discounted prices. Stores like Steve and Barry, H&M and Forever 21 create their own clothing lines, which give them the flexibility to sell most items for $50.00 or less.

· Consignment stores also offer great choices. Consignment shops aren’t what they used to be! Now you find great deals on slightly used, name brand clothing. Sometimes you can even find items with the tag still attached.

Re-Evaluate your Cell Phone Plan

A third step toward reducing monthly expenses is to look at your cell phone payment. If you’re paying over $150 a month to use your phone, you may want to evaluate your plan to see how the bill can be reduced.

Some other alternatives:

Text Messaging Text messaging plans can be added for a small fee (usually around $6 to $10). The great thing about text messaging is that it doesn’t use up air time minutes, which reduces the need for talk and shaves money off of expensive plans or over limit charges (rate per minute charges).

Voice Over Internet Options This service consists of a software application that allows users to make telephone calls over the Internet. Calls to other users of the service and to free-of-charge numbers are free, while calls to other landlines and mobile phones can be made for a fee. Additional features include instant messaging, file transfer and video conferencing. Online phone services like Skype offer unlimited US and Canadian calling plans for $2.95 and unlimited world calling plans for $12.95 per month. Calls to friends who are also using Skype are free.

Consumers Have Overdosed on Credit

Many Americans have fallen victim to risky loans – applying for high interest credit cards, purchasing homes they can’t afford and paying financial loans on private schools for their kids. Recently, when I looked into admitting my daughter into a pre-k program at a local private school here in my city, I discovered that the total costs for 10 months would be over $11,000! Sorry, I may be willing to go into debt for my daughter’s college education, but not for Pre-K. Does that make me a horrible parent? –HARDLY!

If you get into a financial bind due to too much overdosing on credit, you’d actually be better off applying for a short-term online loan. These loans are paid back within 2 weeks and are intended to help consumers make ends meet between paydays – not accumulate more debt! This also offers a less expensive alternative to paying over limit fees, late fees or bounced check fees.

So, the next time you consider applying for another line of credit to purchase something that is not in your budget, please reconsider. Instead, put money aside each week for as long as it takes. It may take several months to save enough money for the item, but it will help you realize if it is really that important to you. Saving the cash will also help you appreciate the item more and will also teach you, as well as others in your family a lesson in patience.

Americans need to learn how to just say NO to overconsumption and ridiculous financial behavior.

Have you thought about packing a lunch?

Having to stretch out the paycheck between paydays? Looking for an easy way to save cash? Try packing a lunch! So many people eat out everyday when they’re at work. The average cost for this is between $5-10 a day. If you start bringing your lunch Monday thru Thursday (we’ll let you eat out on Friday), then you can save $20 to $40 a week. This adds up to $80 to $120 a month and $960 to $1,440 a year!

If you want to be real strict with yourself, then bring lunch on Fridays as well. Of course, the amount of money saved will be reduced a bit by the amount you spend to buy your lunch supplies. But compared to the amount you save, this is a really low amount.

So start thinking about what’s easy to make at home and what you like to eat. Then hit the grocery store this weekend and pick-up some supplies. Good luck and great eating!

Step 1: Reducing Monthly Expenses

Are you finding yourself not being able to get ahead with your bills? Maybe it’s time to re-evaluate your expenses. Over the next few weeks, Budget Brilliant will be highlighting some areas of your budget that can easily be reduced.

* Today’s Budget Cut: Cable Television
Subscriptions to an expanded cable package can be really expensive, reaching $100 in some areas. Reducing your cable package to at least the basic channels or eliminating it all together will save you around $50 a month and make you $600 wealthier at the end of the year.

Some things you can do instead of watching television include:

· Read more. It’s easy to find deals on magazine subscriptions or if you don’t want to spend any money – try swapping with friends.
· Spend time with your friends, kids or spouse. Organize a game night or head outside.
· Watch movies at home. Instead of buying new DVDs or renting them, check out your local library to check out various selections of movies, music, audiotapes, books and other types of media. This will also keep you from getting bored and keep a steady stream of entertainment going.

Saving For College

If you’re a parent wondering about how you’ll pay for your child’s future college bills, your best source for a college savings plan is a 529 Plan. Below are some different saving plans that are available.

1. Direct Sold Savings Program. As with many 529s, this plan will vary according to the state that in which you are located. This type of plan is managed by investment firms where investors will purchase directly from the plan manager.
2. Broker Sold Saving Program. These 529s are sold through a financial advisor, which means that you’ll get the benefit of advice and expertise of an investment professional.
3. Prepaid Contract. This plan allows you to purchase a contract covering from 1 to 5 years, in a lump sum or in installments.
4. Prepaid Unit/ Guaranteed Savings. This plan allows you to buy units toward tuition, which will equal credit hours once your child enters a college.

Source: www.savingforcollege.com

Ways to Keep Giving Back, Even in a Slumping Economy

I know what you’re probably thinking… I can barely make ends meet now, how can I even think about giving to my favorite charities? Still, for those of us who would like to continue giving back to others who are less fortunate, there are ways to do just that… and without completely emptying the bank account.

1. Treat the family to a night out and give back at the same time. Restaurants often have special nights when you can eat there and a portion of the sales will go to a specific charity.

2. Many online lenders offer referral programs with high pay outs (anywhere from $20 to $100) for each referred borrower. This provides extra cash for things like giving to charities just for referring friends and family to loan sites!

3. Donate used items. Do some spring cleaning and search through your closets for items that you haven’t used in a while. Take a trip to Goodwill or any other charitable thrift store to donate all of your used gear.

4. Look for companies who have contribution opportunities available. Some companies will agree to “match” community donations earned for schools and other charitable organizations.

Easy Ways to Save on your Spring Break Travel

Spring break is here! By now, you’re probably itching to get out of town to do something fun. Why not save some money too! Here are three key ways to save on spring break travel…

· Travel with another family. Splitting expenses with other friends and family can significantly reduce trip cost.
· Buy groceries. Get snacks for the trip ahead of time, so that you won’t be tempted to buy at a gas station along the way. If the place where you’re staying has a kitchen, load up on groceries and set a goal to only go out to a couple of nice dinners.
· Look online for deals. Research online and at the visitor’s center once you arrive at your destination. Often you can find coupons for hotel stay, restaurants, air fare and entertainment.

If budgeting for spring break travel seems like too much right now, you might want to consider ways to get short term cash between paydays. Payday loans offer a quicker solution than traditional bank loans and offer the ultimate in flexibility, loaning any amount you choose between $100 and $1500.

Three Steps to Creating a Budget

Financial stress can bring anyone down. Having a household budget can help combat some of that tension and help you be on your way to cash relief. Below are three easy steps to creating a flawless budget.

Identify how you're spending money now. Keep track of your receipts and keep a spreadsheet to log every expense. This may seem time consuming in the beginning, but will become less tedious as you become accustomed to the process.

Evaluate your past spending to set goals for any future spending. It may be difficult to see how you have been spending in the past since you weren’t tracking before, but read through your bank statements to create an estimated idea of where your money has been going. Then, choose where you can make cuts or eliminate expenses that are unnecessary.

Track your spending to make sure it stays within those guidelines. As you begin tracking your expenses, evaluate the spending every month to be sure that you’re staying within your goal budget.

Spring Fever

Spring is almost here. This is a time for fresh starts – flowers will begin to peek and weather will begin to get warmer. How will you get ready for a fresh start? A payday loan can provide you with the funding to help in recharging yourself in preparation of the more colorful, sunnier surroundings, but you’ll need to make arrangements for your complete renewal.

Cleaning your home might be a start in the right direction. A thorough elimination of cob webs, leftover Christmas tree needles and other winter dirt can help in your quest for a new beginning this spring.

Here are some items you’ll want to check off your list:

· Windows - Clean inside and easy-to-reach outside windows.
· Blinds, shades or drapes - Start by dusting or vacuuming the valance and frame, then vacuum from top to bottom using the upholstery attachment for drapes and the brush attachment for blinds.
· Kitchen Cabinets - Wipe down cupboard fronts, shelves and walls.
· Upholstered Furniture - Remove the cushions. Thoroughly vacuum nooks and crannies with a crevice tool.
· Rugs or carpeting – Have these professionally cleaned to thoroughly remove any dust and bacteria.
· Walls – Wash down.

For a complete spring cleaning check list, visit realsimple.com

Keep your head up in an Economic Downturn

In an economic downturn, it’s common for people to have the blues. But negativity doesn’t have to be contagious. If you’re experiencing some hard times, you might want to think about turning to a short-term cash advance for some immediate help. The fees for a short-term cash advance are less expensive than late payment fees and won’t reflect negatively on your credit report.

Here are the comparisons:

$100 payday advance with $15 fee = 391% APR;
$100 bounced check with $48 NSF/merchant fees = 1,251% APR;
$100 credit card balance with $26 late fee = 678% APR;
$100 utility bill with $50 late/reconnect fees = 1,304% APR.

Get Smarter with your Money

We’re all guilty of making bad financial decisions at some point in our lives. But it’s when lessons are never learned and mistakes keep happening that there is a real problem with bad financial choices.

By following some of these easy steps, you’ll be on the road to financial success in no time.

1. Don’t write checks, if there isn’t enough in your checking account to cover it. On Average, a bounced check fee will cost you over $50. So, if you’re already in a financial crunch, the chances are that paying won’t be pleasant.

2. As with the checks, don’t over extend your credit card’s line of credit. If you know that you are within $50 of your credit limit, don’t use it. Otherwise, you could end up paying at least a $30 over limit fee.

3. Don’t live by the motto “To have is to spend”. Avoid living from paycheck to paycheck and start saving a portion of your hard earned cash.

4. Finally, if you’ve tried and you just can’t get ahead, an online cash advance could help you get back on your feet. But borrow responsibly!

Now is the Time to Save Money for Emergencies

Sometimes it seems as if you’ll never get ahead in the money game. You know the feeling, when you finally get an extra $200 in the bank when you have a car accident with a $500 deductible to pay or maybe your car breaks down. Having emergency cash available during these types of events is very beneficial, but unfortunately is rarely the case. However, with enough determination a $500 cushion can be easily obtained by following these easy steps:

Save your change. Several readers tell of saving hundreds over the course of a year, even making a game of it with their children.

Use your tax refund. It’s tax refund time and the typical refund check is usually around $2,000.

Try a "buy nothing" month. Resist the temptation to eat out or have a shopping spree. Bring your lunch to work and avoid shopping for 30 days.

Source: msnmoney.com

How to Avoid Paying Too Much for Auto Repairs

We are all aware that car repairs are not cheap. In fact, automobile breakdowns are most often the cause for financial emergencies. Fortunately though, there are some ways you can avoid paying astronomical charges during your next trip to the mechanic.

1. Don’t Avoid Any Necessary Repairs When little problems become large, the costs go up… sometimes WAY up. For example, if you avoid the fact that your brakes are making noise, the chances of them grinding into your rotors and costing a lot more become higher.

Cost Comparison: New brake pads - $210, new brake pads with rotors – around $900.

2. Maintain Maintenance Requirements Auto manufacturers recommend service checkups at regular intervals, such as every 3,000, 15,000 and 30,000 miles. By following the schedule, you’ll know your car most likely won’t leave you hanging out in the cold. Owner’s manuals list maintenance schedules and schedules can be found online at the manufacturer’s website.

Cost Comparison: Follow maintenance schedule if your car is under warranty, or you may void the coverage.

3. Change Motor Oil Motor oil lubricates the engine and removes contaminants, such as small bits of metal that can cause big damage over time. Engines do bad things when they have low or no oil.
Change the oil yourself or have it changed at the mileage suggested in the car owner’s manual – usually 3,500 miles. Check the oil level every week by pulling out the dipstick, wiping it with a clean cloth, reinserting it and pulling it out again, and checking that the oil on it comes to the “full” line. If it doesn’t, add oil a little at a time, through the oil filler hole, not the dipstick hole.
Cost Comparison: New engine, $5,000; rebuilt engine, $2,500; oil change, $18; quart of oil, $1.25.

4. Never drive with temperature gauge on hot The temperature gauge indicates when the engine is running too hot. The problem may be a faulty thermostat, which regulates the flow of coolant into the engine, or lack of coolant. The result of driving with a gauge on “H” may be a fried engine.
Instead, when the gauge goes up, pull off the road as soon as possible and call for help. Never open the hood of a car if steam is flowing from beneath it, and never remove the radiator cap when the engine is hot, because hot steam and coolant could burn you.

Cost Comparison: Cost of a new engine, see above; thermostat, $10; gallon of coolant, $10.
Source: Vehix.com

Eating Healthy on a Budget

Just because you’re eating on a budget doesn’t mean that you have to sacrifice getting your daily dose of fruits and vegetables. Just follow these easy steps for buying the freshest produce and keeping them fresh for a longer amount of time.
First of all, if you’re feeding a family (four and up), I recommend buying your produce from a wholesale club during the colder months. In summer, try growing a garden and get the whole family involved in the process. Or buy fruits and veggies from a farm stand, where items will likely be much cheaper.

One of the most productive ways to be sure that your produce gets eaten is to separate fruits out into small individual bowls or plastic bags. This is great to store everything and ensures easy access to fresh snacks. If you buy more fruits and vegetables than you can use, don’t let them spoil in the refrigerator: freeze them!

Three Easy Ways To Start Saving $100 A Week

Feeling like you’ll never get ahead with the finances? Believe it or not, there are some very easy ways to save an extra $100 a week. These tips won’t get the best of your budget and at the end of the week; you’ll be amazed at the amount of cash you’ve saved.

Stop eating out for lunch. This may seem tough to do if you like to eat with your co-workers on a regular basis, but this is one of the biggest money drainers of them all. If we figure that the average lunch costs $8 to $10, and then we multiply that by 5 working days, that’s $40 to $50 a week that you could be saving. Instead, start packing your lunch every day. With the $40 you would have spent on lunch, you can purchase enough groceries for a week’s worth of lunches and dinners. Why pay someone $10 to make you a sandwich when you can do it for $2 or less by yourself? You’ll also save on gasoline by not slogging through lunch hour traffic every day just to grab a bite to eat.

Get a Wholesale Club card. Buying in bulk can be a great way to save on things like paper towels, disposable diapers, and other short-term usage items. There is a membership fee of $25, but the savings you’ll see in just a few months time will more than pay for it.

Ask yourself if you need it or want it? Evaluate every purchase, items like beauty magazines, a new pair of shoes, a wrench set, or the latest cell phone might be things you want, but do you really need them? When you stop and think about this, you can save yourself on a lot of impulse buying.

4 Ways to Save when Buying your Next Car

Research
A little research can save you a lot of trouble in the long run. Read the latest issue of Consumer Reports magazine and see what they have to say about the car you’re interested in. You can find one of these in your local bookstore, library, or on the internet if you have a subscription. If you’ve got a friend in the business, try to get some unbiased information. Use the internet and check the pricing to make sure you don’t pay more than you should. Look for deals on sites like eBay and Auto Trader that have enormous quantities of cars available for sale around the country. You might have to drive a hundred miles, but it’s worth it when you find a great buy for several thousand under the bluebook value.

Haggle
If you’re only comfortable buying from a dealership, be prepared to do some haggling to get the price closer to where you want it. Dealerships typically mark their cars up between 15-25%, so bring some quotes from other dealerships and internet sites for extra haggling power. Always try to buy your car at the end of the month, as this is when dealerships might be desperate to sell off some inventory to increase commissions.

Get a Second Opinion
Before you sign on the dotted line, have a friend who has a good knowledge of cars help you check it over thoroughly for any problem areas. In addition, try to avoid dealership finance deals, as they can add thousands more to the final price of the vehicle. Check with your insurance agent to see how much your premiums will be based on the car you buy.

Go Green
Try buying a used hybrid. It’ll save you money at the gas pump and it’s good for the environment. If you live in a city or crowded suburb, you might consider an electric car for the commute back and forth to work. As long as you don’t live far from your job, they’re a great alternative from the gas-guzzlers you compete with on your way home.