Save Money on Bills

In previous blogs I pointed out some ideas that will help families save money with their grocery bills, entertainment and dining out bills, and much more. Today I am going to focus on the “fixed bills” – the ones you can not get rid of such as utilities and more. If you missed the previous posts please take some time and read them here.

How to Save Money on Your Phone Bill…

1. First thing you need to do is decide if your household needs both traditional and cellular phones.  Many modern households have done away with landlines and have gone strictly mobile, unless you absolutely have to ditch the land line.
2. If you do want separate mobile and house phones consider the Magic Jack.  I know the thing looks like a TV gimmick but it’s really a VOIP that uses your internet connection to place calls and can save you tons of money on your phone bill.  You can replace your phone bill and pay less than $30 a year.
3. Monitor your cell phone usage to fit your needs, for instance as much as I tried I could not limit my text messages so instead of consistently paying overage fees I opted for a larger plan.  Yes it was more money but at the same time I now don’t pay any fees so overall I’m still saving.
4. Try using Skype for some of your needs if not all. While not as pretty packaged as Magic Jack, Skype is a free software that will turn your computer into a phone. More over, Skype which is owned by eBay, sells phones that will piggy back on any wireless connection and make phones local as well as international. Imagine taking your Skype phone (with your phone number registered to it) to a Starbucks and still be able to answer calls made to your house number. With increase Wifi and WiMax coverage in many areas, those wireless phones are virtually always on an internet connection. A monthly membership is just $5.99 and it comes with all the features – voice mail, caller id, dedicated number and numbers in different area codes to make it easy and cheap for your family to call you.

How to Save Money on Cable Bills…

1. If you don’t mind losing your premium channels you can get rid of your cable provider and watch everything you need online for free.  Check out this list of Free TV on PC websites.

How to Save Money on Energy Costs…

Even though winter is coming to an end there are many things that you can do to save money on energy costs year round.

1. Whenever buying new appliances look for the energy star rating for low electricity using items.
2. When running Air Conditioning or Heat make sure your windows and doors aren’t seeping air.
3. Save money by unplugging your most energy consuming appliances when not in use.  Not sure what each appliance takes up even when not plugged in, find out what each appliance uses and at least unplug the worst offenders.

A great overall tip when it comes to saving money on bills is to not be scared or ashamed and simply ask for deals from each service provider.  For instance if you hear about a new promotion only available to new customers, no problem, call customer service and have them apply it to your account under threat of switching services.

Saving Money in 2010

A sluggish economy, even worst employment market and an escalating national debt all add up to one thing – it’s time we all find ways to save money. Personal finance is at the forefront of everyone’s mind these days and saving money is probably the most important topic at the family dinner table.
Most find it impossible to cut down spending but that is only because they are looking in the wrong places. Nowadays it is time to be creative when it comes to saving money, it’s time to be informed and well educated about the choices you have.

As a rule of thumb each and every household should have a budget. It’s how fortune 500 companies operate and it’s how your family should too. Get a list of your bills and expenses for each month ( in the business world those are your liabilities). Also put together a list of your salary and all other revenue sources (much like a company has an income chart). This will be able to paint a pretty good picture of where you are financially and what you have to work with.
As soon as you get this items done you will be pleasantly surprised how some things will just pop at you and tell you where you can save money. One example would be the phone bill – why pay for house phone and cell phone?

But let’s get into the meat of things and set out some of the easy ways that families can save money in 2010 – some new and creative ways some just common sense traditional methods. In the next few days I will cover 7 categories of your lifestyle, like commute, food, entertainment, travel etc. and offer you money saving tips and tricks to help cut down your expenses and increase your retained earnings.

I’ll start today with your daily commute to and from work and your number one tool – your automobile.

How to Save Money on your daily commute & automobile:

• Carpool. One of the oldest and most well known of ways to save on all sorts of commuting bills is to carpool. Fine some work buddies that live close by and ask them is interested. Tell them that just by each of you using your car just twice a day you save mileage (valued at $.55 a mile), you save gas, you save on insurance (call your insurance agent and tell him your car only drives to and from work 2 times a week as part of carpool program) and most of all you save on time  (carpool lane).
• Stay with the speed limit and avoid a lot of stop and go. A car uses dramatically more gas when it runs over 55 mph or when it takes off. You can improve your gas mileage thus save money. Also a lot of stop and go will wear your motor and related parts a lot faster than continuous drive thus adding more expenses to your family budget down the road. Should I even mention what a speeding ticket will do to your budget God forbid you get one?
• Get regular maintenance done on your car. It cost a lot less to change your oil every 3000 miles than buying a new motor when you engine block is going to crack. Recently some manufacturers are offering regular maintenance free as part of purchasing their vehicle. Look for deals like that and save even more (see Kia, Hyundai, Audi and BMW).
• Use synthetic oil. Synthetic oil has a guaranteed life of about 5000 miles between changes. Considering you put the average 12,000 miles a year that means only 2 oil changes rather than 4 oil changes with regular oil. The price difference between synthetic and regular is marginal and well worth it. Not to mention the many other benefits of synthetic oil such as longer life time, higher boiling point, increased viscosity and others that will better protect your motor.
• Shop around for insurance. If you are a good driver check with several local and nationwide insurance companies and price them against each other. Even tell them that so and so insurance company offered you this quote and put them on the spot. Also keep in mind that an online only insurance company has a lot better rates than the brick and mortar stores – for obvious overhead reasons. Check with esurance.com for example.
• Buy a slightly used vehicle over a new one. Many dealerships have what is called program cars – cars that have been driven as advertising or by managers and owners. They generally have under 10,000 miles and have full warranties on it but are sold at used car prices even if it is the same year model. New cars will lose a big chunk of their value the moment you drive it off the car lot and NEVER NEVER lease a car unless you are rich and money is not an issue.
• Ride a bicycle or walk to short distances. If you have to run down to the corner store to get a gallon of milk, consider walking there or riding a bicycle. It will not only save you money on gas and wear and tear of your car (again valued at $.55 a mile) but it will also benefit you physically.
• Try to fix it yourself. If you ever have problems with your car try to fix it yourself first. Go to a discount auto parts store like Napa and ask them what they think the problem is. Most of the guys there (and for sure the manager) are licensed car mechanics or have been. They will be able to diagnose the problem and advise you what part to get and how to change it. If it sounds like too involved and complicated then you may chose to shop your local mechanic shops. If however you decide to attempt it you will see how much you will save. About 70% of a mechanic bill is labor not parts. You will be saving all of that.

I hope that the money tips above are helpful and you will be able to incorporate some of them when looking to save money in this category. At least it may spark your imagination and you may come up with money saving tricks of your own.

In the next post I will cover one of the largest expense category of our families: FOOD. So check back tomorrow or sign up for our newsfeed and get some of the best money saving tricks and tips related to grocery shopping, dining out and all FOOD related expenses.

If you can think of anything else please feel free to add it to the comment are and I will make sure to give you credit for it.

When you’re trying to save for the future and still manage to eat, it can be tough to find that right balance. We all need to plan ahead and having a savings account really is essential. This can be a cushion or that “rainy day” money that you need, and it is never too late to start putting away money towards your retirement. However, a lot of us can get bogged down when it comes to handling our own finances and it is all too easy to be like the grasshopper in Aesop’s Fables and put it off until tomorrow.

You can’t put off saving for your future until tomorrow, because there is a good chance you’ll keep putting it off until you wake up one day and it’s too late. However, there are a few easy tips that you can use to start saving for your future today. It may be a little tough at times, but like anything, practice makes perfect. The more you practice saving, the easier it gets. Eventually, managing your money will come naturally.

Let’s start off with setting a budget and finding which expenses are not necessary. Add up everything you spend over the course of a month. Put all of your necessary expenses, such as groceries, rent, utilities and phone into one column. Now, put everything else in the other. You may be surprised at just how much you are spending every single month. If you have credit cards, it’s very easy to spend more than you’re making. This sets you up to enter a bad debt spiral that will eventually get out of control.

Now, let’s take a look at everything in the second column. Add up how much you spend on things such as partying or shopping. These are items that should be the first to go. Sure, you don’t want to become a recluse, but when you get tempted to go out and spend a bunch of money ask yourself – will I still be able to wear this shirt when I’m broke at 65? Do I want to work until I’m 80 simply because I want to go have a few drinks?

It’s a bit extreme, but these little spending habits can end up giving you that result. Find ways to do things a lot more cheaply and you’ll end up saving a few hundred dollars every month. Put that money into an interest bearing savings account and we guarantee, by the end of the year, you’ll be amazed at how much money you were able to put aside.

Next, you’ll need to focus on ways to create more money than just your standard income. 80% of all Americans live paycheck to paycheck. This means that one lost job can result in becoming homeless. To break that cycle, you need to create multiple streams of income so that you’re not relying on that one source of income to meet your needs. This is the key towards planning for your future.