While the media can’t decide if the recession is nearing its end or not, we do know that there hasn’t been a tremendous surge in wages, job creation or the stock market. Consequently, most of us are staying pretty conservative on our spending. Here are a few relatively simple ways to keep an eye on your pennies while you’re waiting for that brighter economic future to arrive.
1. Schedule automatic payments. Have (at least) your fixed monthly bills paid automatically to avoid missing a payment and having to fork over extra money for late fees and/or interest. You can set up auto pay features through your bank’s online bill paying service or by arranging it directly with the company or service provider.
2. Eat your groceries. Did you know that Americans regularly throw away nearly 15% of the food they buy at the grocery store each year? That can add up to hundreds or, depending on your supermarket budget, thousands of dollars each year. Save money by actually eating what you buy. Not sure how? Bypass the bookstore and borrow a cookbook from the library!
3. Bundle services. If you’re paying different vendors for similar services you may be overpaying. Call your communications providers to see what price you’ll be quoted if you switch and bundle your internet, phone and cable TV services.
4. Pay off credit card. If you’re not paying off your credit card balance each month you’re paying interest and, for most Americans, it’s a pretty steep rate. Pay it off and you could save a tidy sum by eliminating your interest charges.
5. Mark your calendar. Whenever you rent something – library books, videos, etc. – mark it on your calendar and save money by avoiding those quickly mounting late fees. Many stores and libraries also now offer email reminders to help the constantly harried so sign up for the extra help!
6. File your taxes on time. Or if you need to file an extension at least pay what you owe on the due date. You’ll avoid annoying notices from the IRS and, more importantly, save on penalties, fees and interest.
7. Roll it over. If you’re switching jobs and you can’t leave your 401(k) invested with your current company, roll your 401(k) into either your new employer’s 401(k) or an IRA within the 60-day window instead of withdrawing the money. By doing so you’ll keep the money invested –  and earning interest – and avoid those nasty taxes as well as the additional 10% penalty.
8. Switch credit cards. If you’re carrying a balance on a high interest rate credit card check out other card issuers to see if you could transfer your balance to one with a lower interest rate and fewer fees. Use sites like Creditcard.com or Bankrate.com to compare card rates, and pay careful attention to how long those terms last so you don’t wind up paying a higher rate and erasing any potential savings.
9. Use your privileges. Are you an AAA member? Do you belong to the AARP? What about your local credit union? Check organizations you have memberships with to see if they offer buying privileges or discounts.
10. Rent instead of buy. You might be excited to expand your driveway but don’t let your enthusiasm overtake good sense. Hold off on buying that jackhammer and think before you spend on big-ticket items or items that you’ll use once or infrequently (like movies and books).
11. Buy instead of rent.  Don’t pay the exorbitantly high prices charged by rent-a-center type stores for items you’ll use regularly and keep long-term like computers, furniture and appliances.Â
12. Ask. That’s right, just ask. You can’t be paying any more than you currently are, so why not ask if you can get the interest rate lowered on your credit cards or loans? Also, ask for a discount on services like your wireless phone, trash removal or pet care instead of switching to another vendor, and of course ask “is that the best you can do” on any big ticket purchases like cars, appliances and furniture.
In a tight economy it might be worth the seller’s while to cut the price instead of losing the sale, and you’ll both benefit in the end!
13. Just say no. To the extended warranty that is. They hardly ever make financial sense. Weigh the repair or replacement cost (and if you would even need or want to repair or replace it down the road) against the cost of the warranty and graciously pass when offered.Â
14. Have the awkward conversation. Americans average more than $750 yearly on holiday gifts and that’s probably much more than most would like to spend. If your gift-giving is costing you more than you can realistically afford there’s a good chance it’s more than your relatives can afford (or would like to spend) as well. Take the plunge and broach the subject. Offer a more reasonable alternative (say, limit giving to children or put a dollar amount on gifts per person). More than likely your relatives will be grateful SOMEONE finally raised the subject and you’ll save money in the process.
15. Eat at home. Â If the idea of cooking for yourself seems like too much work at least opt for take-out instead of dining out – you’ll save on the tip, the alcohol and most likely the cost for appetizers or dessert.
16. Balance your checkbook. It might take a few minutes but it’s something you should be doing anyway and it can pay off huge dividends by helping you avoid bouncing a check and incurring steep overdraft fees (not to mention a little embarrassment)!
17. Stick with your bank. When withdrawing cash drive or walk the extra minute it takes to use your bank’s ATM and avoid the fee that could come with another bank’s machine. Better yet – switch to a bank that doesn’t charge fees!
18. Use your TV. If you’re paying for cable why not use all of it – and save some money in the process? Cancel the video membership and watch movies through cable movie packages you’re already paying for or check out your free “on demand” shows. Drop the gym membership and work out at home to channels like FitTV, and bag the magazine subscriptions and watch the same shows (like Martha Stewart) on TV instead.
19. Quit those bad habits.  Smoking, overeating and drinking are costly habits to maintain. Okay – this is the “lazy” way to save, not necessarily the easy way. But you can save boatloads of money in two ways by saying sayonara to your favorite vices: (1) You’ll save money by cutting out on the regular spending it’s costing you, and (2) you’ll probably save on insurance premiums and long-term health costs. It’s the ultimate win-win.
20. Forget the pet.  Sure it sounds heartless but did you realize that welcoming home a little Fido can cost you an average of more than $1,500 a year – or $15,000 over 10 years? Feline fluffies are pricey too – just under $1,000 a year or approximately $9,000 for 10 years of care. Looking at the long-term picture, that’s a new car or the down payment on a home! Keep walking right past that pet store and keep the money in your pocket instead.
The recession won’t last forever, but in the meantime take advantage of these lazy ways to stay on track financially, and develop some pretty good money management habits for the future!
Excerpt from:
20 Lazy Ways to Save Money
It’s no big surprise that energy costs money, but some people greet their bills each month with shock when they see how much their consumption is costing them. According to the U.S. Department of Energy (DOE), the average family spends approximately $1,600 per year on utility bills alone. Anything you can do to conserve energy puts some of that money back in your pocket.
Let’s take a look at 10 painless ways to reduce consumption and cut your expenses.
1. Use Your Thermostat
Turning up the temperature during the summer and turning it down during the winter are great strategies for putting your thermostat to work for your wallet. The DOE recommends setting the air conditioner at 74 degrees and the furnace at 68 to keep your house comfortable while reducing your energy costs and decreasing the demand on the energy grid. A programmable thermostat lets you make the house hotter or cooler during periods when you aren’t home. This reduces the temperature difference between the exterior and interior of your house, which in turn reduces energy loss. If you don’t have a programmable thermostat, you can manually adjust your existing unit.
2. Ceiling Fans
If you have ceiling fans in your house, turn them on and use them properly. According to Energy Star, a voluntary labeling program sponsored by the DOE and the U.S. Environmental Protection Agency (EPA), ceiling fans should be set to spin counter-clockwise in the summer, which pulls hot air up to the ceiling and away from the living space. In the winter, reverse the setting so the fans blow the hot air down.
3. Energy Star Appliances
Energy Star also identifies energy-efficient appliances, including washers, dryers, refrigerators, freezers, dishwashers, dehumidifiers, room air conditioners, computers and more. When you are shopping for new appliances, look for the Energy Star label and you can rest assured that the items you are purchasing will go a long way toward saving you some cash. The point here is to not increase the use of these items just because they are energy savers. This is much the same as concept low-fat food: consuming more defeats the purpose.
4. Home Electronics
Stereos, DVD players, televisions, kitchen appliances, and any other plugged-in appliances draw a small amount of power even when turned off. Large LCD and plasma televisions consume up to 400 watts of energy when in use and about four watts when not in use, according to the British Broadcasting Corporation. Use the surge suppressor to turn them completely off when not in use, or unplug these items until you really need them
5. Energy-Efficient Light Bulbs
A quick and easy way to reduce your energy use is to replace existing incandescent lights with energy-efficient compact fluorescent lights. According to General Electric (NYSE:GE), compact fluorescent bulbs “use two-thirds less energy than standard incandescent light bulbs, and last up to 10-times longer.” GE reports that using a 13-watt compact fluorescent in place of a 60-watt incandescent will result in a $30 savings in energy costs over the life of the bulb. Regardless of the bulbs that you use, turn them off when you leave the room. For laundry rooms, garages, basements and other little-used areas, consider the installation of timers that automatically turn off the lights after a preset amount of time – just in case you forget to shut them off.
6. Conserve Water
Low-flow fixtures that conserve water are available for your shower, faucets and toilets. In addition to installing these items, be sure to replace faucets that drip, fix toilets that leak and turn off the spigot when brushing your teeth or scrubbing dishes. Every drop of water that you save contributes to conservation of this valuable resource – and we’re talking water here, not only money.
7. Seal and Insulate
A well-insulated house reduces the amount of money you will spend on heating and cooling. Start by checking out your attic. If your attic is unfinished, you shouldn’t be able to see the floor joists. If you can see them, add more insulation.Also, be sure to fill in and seal any holes in your exterior walls, such as where pipes come into the house and around windows and doors. Wrap your hot water heater and exposed pipes with insulation to help them maintain the proper temperature.
8. Change/Empty Your Filters
Change the filter on your furnace on a frequent basis. Many furnace manufacturers recommend doing it quarterly or even monthly to keep the unit operating at peak efficiency. Similarly, empty the lint filter on your dryer after every use. Even a small amount of lint reduces energy efficiency.
9. Close the Doors and More
Don’t waste energy. Close the doors on your refrigerator and house as quickly as possible. Keep fireplace dampers shut when not in use. Close the curtains to cover your windows at night. All of these little efforts help to conserve energy by preventing heat loss.
10. Use Your Surroundings
Strategically placed trees can help to reduce your heating and cooling costs. During the summer, trees provide shade. During the winter, trees provide a windbreak. Positioning large deciduous trees in the right places can reduce cooling costs up to 25%, according to the DOE. These deciduous trees should be planted on the south and west sides of your home and strategically positioned to shade hard surfaces, including driveways and patios, to maximize their impact. Because they lose their leaves in winter, they allow the sun to warm your house. Evergreen trees planted on the north side of your home will help to shield the house from cold winds in every season.
Small Steps Lead to Big Savings
Saving energy conserves valuable resources and saves money. Do your part to make energy conservation a habit; it’s a move with positive implications for both the environment and your wallet.
Read the original post:
10 Ways to Save Energy and Money
