Money Saving Tips for Routine Household Expenses
If you rent, contact your landlord and ask about a discount for paying ahead or for a longer lease agreement.
If you own a home, check out re-finance options. If you can reduce your interest rate without having to pay points you can obtain quite bit of savings. If you have a second mortgage, refinancing and combining the first and second mortgage, even if you have to pay points, may save you money in the long run and lower your monthly payment.
To save money on gasoline check out rewards that some stores , such as Kroger’s and Costco, offer. As you buy groceries you earn points for cheaper gasoline from Krogers. Costco and other department stores offer discounted gasoline to members, the membership at Costco is $55, you can make that back rather quickly with cheaper fill ups’.
Buying an automobile in the late summer or early fall when the new models come out can save you money too. New cars are too expensive for many families. If you can’t afford a new car, consider leasing an automobile. The downpayment on a leased vehicle is usually lower and so are the monthly payments than on auto loans.
Interest paid to finance a car purchase varies greatly, be sure to do comparisons. Most of us do much more shopping and comparing for the car itself than the financing. The Consumer Financial Protection agency has just released a new “shopping sheet” you can use to calculate the car loan cost and do comparative shopping.
Groceries are an area where most of us try to squeeze out a few extra bucks to cover unexpected expenses. Often it is only part of our budget where we have discretionary rather than fixed expenses. Always make list before you go to the store. Never shop for groceries while hungry.
Coupons can be helpful but often don’t bring down the prices to equal non-brand equivalent items. Unless you have a lot of time to hunt and organize coupons, buying brand name items with coupon may be more trouble than they are worth.
Store issued coupons are often a good deal, as well as 2 for 1 offers and sale items. Most stores produce a sales flyer, be sure to check it out before or during your main grocery shopping. Dividing your shopping between two stores which offer sale different items you need can save you money too.
Buying in season items saves money. Look up high and down low on the aisles shelves. Stores often place the highest priced items on the shelves which are eye-level. Giving the kids a choice of one special item is good way to keep the “I wants and can we get..” from running up the weekly grocery shopping tally.
Some credit cards offer cash back for using them to purchase grocery items. Check to see if you need to sign up every month or if it happens automatically. If possible, don’t use a credit card for groceries unless you can pay it off right away. If you use credit card, a good practice is to go online to your bank when you get home from the store and pay the amount you spent one groceries off on your credit card. Don’t wait, it has a way of never getting done.
Gotta love those pizza coupons and credit cards that give you cash back for meals out. Even upscale restaurants offer coupons and participate in restaurant week, try to plan your splurges for when you get a price break.
Many middle class families qualify for free or reduced prices on school lunches. It never hurts to check out the information for your child’s school to see if your family qualifies. It is so common now that there is not the same stigma for children in the past.
Brown bag – Lunch box lunches are all the rage to ensure healthy choices for our kids. Buying items in bulk is a great way to save money on homemade lunches. You can even get drinks in bulk that don’t need to be refrigerated. PB&J is a kid favorite and very economical.
Work Food and Snacks
Bringing your lunch and snacks from home is very likely to save up $30 or more a week, that is a $1,440 a year savings.
Many states now allow competition for electric and natural gas companies. Check out the various company rates to make sure you are getting the best deal. Try to avoid contracts for cable, broadband, mobile and telephone so you can easily move to a company offering a cheaper deal.
If your health insurance is not provided by your employer and you haven’t been to healthcare.gov you are probably leaving money on the table. Even if you don’t qualify for a subsidy, you will qualify to be part of a group insurance plan which is usually less expensive than individual insurance. Healthcare.gov was not working when it first cam online, now it is working and you can get additional help to apply and get questions answered by calling 1-800-318-2596 (TTY: 1-855-889-4325). They are open 24/7 , closed most holidays. If you have no insurance you will be fined and have to pay higher taxes.
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