Bring In the Financial Reins on Independence Day

This Independence Day resist the temptation to spend money that you don’t have, buy more than you need, or buy something you probably will not use just because it is on sale. Many times items that are on sale are not really a bargain. Do comparison shopping to see if you can find the item for a cheaper price at another store or online. Here are 5 ways to save money shopping this Independence Day:

1. Plan ahead. Don't wait until the day before the holiday to go shopping. Lines at the register are longer and the selection of items is limited. Try shopping a week in advance or early in the morning.
2. Budget. Create a budget or shopping list and only buy the things you absolutely need.
3. Ask for help. If you are having a picnic or cookout ask friends and family to bring a dish to help cut downs on costs.
4. Local shopping. Visit local vendors to purchase meats, fruits and vegetables which will be much cheaper than the grocery store.
5. Resist temptation. Avoid going to the department stores or malls. I know it will be hard but take time out to enjoy being with family and friends. Try finding some free events to attend instead of going shopping. Your wallet will thank you.

20 Ways to Save Money Now

Many consumers nowadays are trying to find more ways to save money. However, some consumers refuse to save money and continue to have bad spending habits that will only lead to financial disaster. Many consumers don’t understand the true benefits of spending less than you have, saving money and creating a monthly budget. These are tools to help you get out of debt, pay for unexpected expenses and prevent you from getting into debt. These are things everyone should embrace with open arms.

Many people want to know why should I save money. I have enough to pay my bills; I can’t take it with me, what’s the point. Different people save for different reasons. You can save for many different reasons such as: unexpected expenses, a vacation, to start a business, pay for education, plan for retirement, home repairs, estate planning, buy a car, a wedding, down payment on a house and more. It is a great feeling to have money to pay for things you need instead of using your credit card and paying the balance off 6, 9 or 12 months later. Here are 20 ways to save money.

1. Pack your lunch for work every day.
2. Buy drinks from the grocery store instead of the newsstand at work or coffee shop or, better yet, drink water – it’s the best thing for your health and it’s free. Reduce all unnecessary spending (i.e. only buy necessary items).
3. Use direct deposit to send your paycheck directly to your bank.
4. If you get a raise, save all or most of the money received from the raise. For example, save $5 or $10 a week or whatever you can afford. Set a goal that you want to save $100 within a certain time period. Once you have accomplished that goal, set another savings goal and continue doing that. The next time you meet your goal, you will realize that you have saved a great deal.
5. Buy what you can on sale, instead of paying the regular price.
6. Use coupons or shop at a wholesale store such as Sam’s Club or Costco.
7. Buy whole foods, such as vegetables, grains, beans and fruits, instead of processed foods. This way you aren’t paying for the processing costs.
8. Check your local health food store to see if you can buy foods, such as grains, seeds, nuts, spices and legumes, in bulk. This way you aren’t paying for expensive packaging.
9. Carpool.
10. Take public transportation to work.
11. Cancel your cable service or get the cheapest plan possible.
12. Cancel your cell phone service or get the cheapest plan possible.
13. Reduce the amount of long–distance calls you make per month.
14. Shop around with various banks to find a checking account with no monthly fees.
15. Buy a midsize or compact car until your debts are paid, because this results in a cheaper monthly payment.
16. Finds ways to reduce home expenses by buying energy efficient appliances, ceiling fans, programmable thermostats, fluorescent light bulbs and lamps, or hot water insulator jackets.
17. Donate items not being used to a charity. The amount can be written off on your taxes.
18. Rent movies instead of going to the movie theater.
19. Turn the lights out when you are not in a room.
20. Turn the heat and/or air conditioner off when you are not at home or set at a low energy saving temperature which can be found be calling your local utility company.

Save Money on Memorial Day

Memorial Day which was originally called Decoration Day, is a day of remembrance for those who died serving in the military. Memorial Day was officially proclaimed a holiday on May 5, 1868 by General John Logan and was first observed on May 30, 1868. The first state to officially recognize the holiday was New York in 1873.

Memorial Day passed by Congress as part of the National Holiday Act of 1971. Memorial Day is celebrated in almost every state on the last Monday in May. However some southern states such as Texas, Louisiana, Tennessee, Alabama, Florida, Mississippi, South Carolina and Georgia also celebrate Confederate Day to honor those who served in the Confederate War.

Many advertisers take advantage of the Memorial Day holiday as another way to make money. Unfortunately they never mention anything about the real reason for Memorial Day. Advertisers should at provide extra discounts for those who have served in the military or are currently still serving in the military. If someone fights for our country, why can’t you give them a discount on a purchase? We should embrace our military and treat them better than we currently do.

Memorial Day is usually the official start of the summer season when pools are opened, families begin cooking on the grill, summer clothes are pulled out and people start heading to the beaches. Many families and friends get together during this weekend. Many people also head to the mall to see what sales are offered. If you have to go shopping or spend money this Memorial Day weekend here are 6 tips to save money.

1. Save money on gas. With the cost of gas prices I have cut back on driving here and there and take into consideration the distance I have to drive. Create a traveling zone when driving. When considering driving use MapQuest to map the address and see how many miles it is from your home or office. If the distance is more than the maximum number of miles you are willing to drive do not attend the event. My maximum is 30 miles one way from my home or work.
2. Food. If you are having family or friends at your home keep the menu simple but provide variety. Use different sauces, toppings and marinades to provide flavor and variety. Ask everyone to bring a dish or dessert to help save money.
3. Fun. Skip going to the movies or amusement parks and play games outside such as volleyball, soccer, cricket, horse shoes, sack races etc. to save money and spend more time with your family and friends.
4. Skip the mall. Don't let the media or advertisements trick you into buying something this Memorial Day weekend simply because it is on sale. Most prices during holiday sales are marked up and a discount is given on the marked up price. If you have to buy something at the mall comparison shop and determine which store is offering the best holiday sale. Check online sites to see if you can get a better deal.
5. Budget. Create a budget or shopping list and only buy the things you absolutely need for the holiday. Visit local vendors, food co-ops or discount stores to purchase meats, fruits and vegetables which will be much cheaper than the department store.
6. Free. Check your local newspaper or listen to your local news station to find free events to attend during the holiday weekend.

Uncommon Savings Tips

1. When you receive items purchased keep the boxes and reuse them to ship gifts or other items.
2. Reuse both sides of printer or fax paper.
3. Sew clothes for yourself and your family.
4. Crochet pillows, quilts, blankets, sweaters, socks and other items to stay warm.
5. Make jewelry which you can give as gifts.
6. If you are good with arts and crafts make things such as: gloves, pottery, candles, candle holders, envelopes, etc. and give as gifts.
7. Camp out in your backyard in a tent instead of going camping.
8. Participate in clinical research trials to get free medication and earn some extra money.
9. Donate blood to get extra money.
10. Go to a training school for services: beauty school, barber school, dental school or veterinary school to save money on hair care, dental care and pet care costs.
11. Go to a training school or college in less than the normal time, i.e. finish college in 3 years, finish a graduate degree in 1 ½ years, etc.
12. Get sponsors to remodel your home, car, sponsor your family reunion, high reunion or wedding.
13. Make your own food or drinks such as ice cream, soda, bread, beer.
14. If giving flowers as a gift, use flowers from weddings, funerals or other special events.
15. Sell your sperm.
16. Sell your hair to cancer patients.
17. Donate your eggs to women who have problems conceiving.
18. Train you cat to use the toilet like in the movie the Meet the Fockers.
19. Potty train babies at age one or younger.

How Green Technology Can Save You Money

Green technology is using tools and methods to do things that are environmentally friendly and that also conserves natural resources and the environment. Green technology does not damage or deplete the earth’s natural resources. Green technology is used so products can be re- used and recycled. It is an alternative source of technology that reduces fossil fuels and creates less damage to people, animals, and plants. Green technology also reduces the amount of waste and pollution that is created during the production and consumption of goods.

A large part of managing your finances is saving money. Using green technology is a great way to help you save money and save the environment. In some instances it may cost more money with the initial purchase but over time you will see the savings. Green technology can be used in all areas of our life – cooling, heating, driving, electricity, computers, and more. Here are 14 ways to save money using green technology.


1. Pay bills online. Pay your bills online which saves you money on stamp, envelopes, writing checks, late fees or convenience fees. It also helps you budget your money quickly and easily. You can also setup automatic bill payment through your bank.

2. Drive less. Use public transportation, car pool, ride a bicycle or walk. With the increasing price of gas this will save you lots of money. Consider moving closer to your employer or moving near a train station or metro station.

3. Showering. Install a low-flow shower head to save money on water consumption. Limit the time you take a shower to 10-15 minutes.

4. Hot Water Heater. Trade in your gas or electric hot water heater for a solar water heater. It uses the sun’s energy to preheat the water which can save 50-80% on your utility bill.

5. Water. Drink tap water instead of bottled water. Use a filter like Pur or Brita for your kitchen faucet or water pitcher. This way you are not paying twice for water (your water bill and drinking bottled water).

6. Lighting. Use fluorescent light bulbs for lighting which will help you save money on lighting. Also make sure you turn off the lights if you are out of a room for more than 20 minutes. Use night lights to light dim areas if needed.

7. Electricity. Unplug large appliances and electronic devices when not in use. Set your computer to standby or sleep mode when not in use. It takes more energy to restart your computer every time you turn it on it than it does to wake it up from sleep mode.

8. Recycled. Buy recycled products which usually cost 10-15% less than non-recycled products.

9. Power Strip It. Use power strips to plug in your appliances and electronic devices. Most energy is consumed when devices are turned off but not unplugged. To save money, turn the power strip switch to off when you are not using the devices.

10. Energy Star. Energy Star has been around for a long time but now it is even cheaper to use energy efficient products which use 70-80% less energy.

11. Insulate. Insulate your home, attic, windows and door to save money on heating and cooling.

12. Solar window film. Switch your plastic window film to solar window film to help keep you home cooler by reducing utility costs. The film prevents the sun’s rays from entering your home and reduces the need for air conditioning. This is most effective in areas where the temperatures don’t get too cold.

13. Recharge batteries. Buy rechargeable batteries to charge your electronic devices, toys, games and more. The electricity you use to recharge a battery is much cheaper than buying a 4 or 8 pack of batteries.

14. Re-manufactured Supplies. Buy re-manufactured supplies such as printer ink and toner cartridges from Office Depot which can cost up to 15% less.

Financial Planning for the Elderly

Many elderly Americans struggle to make ends meet due to their limited fixed income, increasing prices and inflation. Some elderly Americans file for bankruptcy, have to downsize their home, move in with family or friends or get a roommate to stretch their income.

According to Alliance to End Homelessness, in 2008, 43,000 elderly age 65 and over relied on the shelter system. According to AARP, an excessive amount of debt and increasing medical bills have caused bankruptcies among the elderly to increase by 150 percent from 1991 to 2007. The percentage is even higher for those aged 75 to 84 years of age. The highest costs for the elderly are medical bills, medical services, prescriptions, food and housing costs. Here are some tips on how to save money on a fixed income.

Utilities
1. Invest in energy efficient light bulbs to save money on power bills
2. Improve home insulation to reduce heating and cooling bills
3. Use coupons when they truly represent a saving opportunity
4. Insulate hot water heater
5. Rinse clothes in cold water
6. Take luke warm baths or showers
7. Keep heat at 68 degrees Fahrenheit, keep a/c at 78 degrees Fahrenheit
8. Keep hot water heater at 120 degrees Fahrenheit

Household goods
1. Watch for the items you use to go on sale and stock up when prices are at their lowest
2. Submit available rebate offers for products you use regularly
3. Buy generic vs. name brand
4. Bulk items on sale or “day old” items
5. Use coupons or shop at discount stores such as Sam’s Club, BJ’s, Costco, Wal-Mart or Target

Electronics
1. Craigslist
2. eBay
3. freecycle.org

Healthcare
1. Free Dental Clinics www.freemedicalcamps.com
2. Operation Blessing International, 800-730-2537
3. Ask about discounted Dental programs www.dentalplans.com, www.choiceplusdentalplans.com, AmeriPlan, Aetna, Avia
4. Flat Fee clinics or sliding fee scale – search for “flat free clinic and the state you x”, x is the state you live in to find a clinic near you
5. Medicare supplement, 877-494-9296 Code: TIG
6. Prescriptions – buy generic, fill prescriptions at discount stores – Wal-Mart, Target, Walgreens

Food
1. Plan meals around items that go on sale or that are in season
2. Look for the items you use to go on sale and stock up
3. Comparison Shop
4. Don’t go shopping when you’re hungry
5. Generic vs. name brand
6. Shop at the dollar store for household products, spices, packaged foods and other foods
7. Feeding America Food bank - 800.771.2303 (nationwide)
8. Meals on Wheels 703.548.5558 (nationwide)

Finances
1. Create an emergency fund – with enough money to cover expenses for 6-9 months
2. Downsize – downsize to a smaller home, trade in a luxury car for a cheaper model
3. Get Tax Preparation Assistance – VITA Volunteer Income Tax Assistance 1-800-906-9887
4. Needs vs. wants - buy more needs vs. wants
5. Reduce spending – don’t buy things you don’t need or just because something is on sale
6. Budget - Create a budget and track spending daily or weekly
7. Reduce expenses – use coupons, buy in bulk, buy on sale, coupons.com
8. Debt – pay rent/mortgage, car payment first, then setup payment plans for collection accounts, judgments, tax liens, then everything else
9. Transportation costs – do you need a car, can you carpool or take public transportation
10. Insurance – do you have adequate health, life and disability

Housing
1. Reverse mortgage, 800-569-4287
2. Co-elderly housing, 812-618-2646 (nationwide)
3. Housing Information - www.seniorliving.com, www.SeniorsForLiving.com, www.aplaceformom.com, SeniorLivingSource.org/Housing, SeniorOutlook.com, www.seniorresource.com/ageinpl.htm#other
6. Low income apartments – www.rent.com, section8-help.com

Other
1. Aging Services Network - 202-872-0888 (nationwide)
2. Discounts - www.seniordiscounts.com/newsletter.aspx, seniors.lovetoknow.com/Are_There_Any_Discounts_Senior_Citizens_Receive
3. Aging Services - www.seniorresource.com/ageinpl.htm

Freebies
1. seniors.lovetoknow.com/Freebies_for_Senior_Citizens

Celebrate Saving

Are you saver? Many Americans today don't have a savings account. Start by creating an emergency fund. Your emergency fund is your safety net, in case you get sick or lose your job you can use your emergency savings to hold you for a few months until you can find a new job.

Your emergency account should be separate from your checking or savings accounts and should only be used for emergencies such as an unexpected expense, unemployment, medical bills, etc.

An emergency fund should be enough savings to pay your bills for at least 6 to 9 months. Money for an emergency fund should be readily accessible and stored in a checking or savings account, preferably a high interest savings account such as Emigrant Direct or ING or a money market account where you can make money while saving money.

To determine how much money is needed to pay 3 to 6 months worth of your bills do an inventory and write down all your bills and expenses and the monthly amount spent for each. Calculate the total. Use this amount and multiple by 3 or 6 to determine the total amount you need to save in your emergency fund.

Make sure you do some comparison shopping before opening an account for your emergency fund to ensure that they are no minimum or other fees for accessing your account. A good source to use is Bankrate.com.

Start by contributing small amounts to your emergency fund until you are able to contribute more even if it is just $5. Once you are able to contribute more to the fund do so. Make several short-term goals for your emergency fund. Once you have saved enough money to pay one bill pat yourself on the back. Then keep saving until you have enough to pay three bills and so on until you have enough saved to pay your bills and expenses for 3 to 6 months.

Once you have reached your emergency fund goal it is time to start developing some long-term goals such as an additional savings account and to start planning for retirement. A great site to learn about retirement planning is Morningstar.com and look under the Personal Finance section.

Having an emergency fund will ensure that you are on the road to becoming financially secure and will prevent you from going into debt when an unexpected tragedy happens or unexpected expenses arises. An emergency fund is the first step to getting out of and staying out of debt.

You have to prepare for the future and a critical component of that is having a savings account. You may not know what the future holds but if you prepare your finances now, it will ease the burden of what tomorrow holds.

Save Money Paying Bills

Over 15 billion checks were written in 2009. If you write checks make sure you get a checking account with no monthly fees. If you are struggling paying bills there are several ways to save money when paying your bills.

Paying bills by check can be costly. If you write 10 checks per month, it costs you $4.40 per month or $52.80 per year plus the cost of ordering checks which can range from $12-$40 per order or $144-$400 a year. If you buy money orders to pay your bills the average cost for a money order is $1.20. If get 10 money orders per month, it costs you $12 or $144 per year. Here are 9 ways to save money paying your bills.

1. Online. Use online banking to pay bills online. Make sure you get a checking account that includes the online bill payment service for free. Online banking can save you between $50 - $144 a year.
2. Many companies offer the option of paying bills by phone for a small fee. Only use this option if your payment will be late using postal mail. Pay $5-$10 versus a $25-$30 late fee.
3. Transfer. You can transfer your credit card balance to a credit card with a lower interest rate. Be cautious with transfers and make sure you pay the full balance before the promotional period expires.
4. Automatic. You can use automatic deduction to pay your bills. Make sure you have enough money in your account to cover the bills each month. Request an email confirmation for each bill paid.
5. Extra. Send more than the minimum monthly payment to save money on interest and finance charges each month. You can also send multiple payments during the month.
6. Consolidate. Get a debt consolidation loan to combine all debt into one payment. Use caution and make sure you use a reputable company. Request monthly confirmations for each bill paid. Don’t get a home equity loan to consolidate debt because if you miss a payment you may lose your home.
7. Ebilling. Get your bills online and save money. Some companies now charge for sending bills by postal mail.
8. Verify. Verify your monthly bills to make sure no errors appear on your bill. Also verify all charges. Read the fine print and ask questions. Many companies offer discounts or specials that they do not advertise. See which ones you may be eligible for.
9. Card. You can pay bills using your debit or credit card to save money on check writing fees. Check to see if the company charges a fee for paying by debit or credit card. If paying by credit card make sure you pay the amount charged in full when your credit card bill arrives to avoid interest and finance charges.