Ideas for saving Money, Big and Small

On other pages I have discussed how to become a money saving expert, given money management tips , saving money advice, as well as tips on saving money on groceries. What follows are some more ways in which you can save money and fatten you wallet.

Ideas for saving money: Big

• Credit score improvement: Paying your bills on time will improve your score which will in turn help you get better rates on loans and financing for major purchases.(this can add up to big money over the long term.)

• Split your mortgage: Paying half of your mortgage twice a month can significantly reduce the interest you pay over the life of the loan PLUS shorten the period of repayment. For instance on a 25 year, 200K mortgage you would save 24.8K by changing to bi-weekly payments and finish paying in 22 years rather than the original term!( one of the great ideas for saving money)

• Examine your insurance policies: Raising your deductible even modestly on home or auto insurance can save you quite a bundle. Talk to your agent. If you can pay your premium annually or semi- annually you will also save on finance charges.

• Say goodbye to PMI: If you have more than 20% of your home value in Equity, you should talk to your bank about eliminating the private mortgage insurance. This will add up in savings over the years.

• De-clutter your house: Go through your closets, attic, basement and garage and sell what you haven't used for two years or more. You can sell thru E-bay, Craigs'list, hold a garage sale. Items you can't sell can be given to a charity- that will provide you with a tax deduction while doing a good deed.

• Hidden treasures at work: I once found out that the health insurance I was paying for at work covered up to $300 in Free gym membership. This is great news for your health. There might be other gems like this in your employee benefits manual- talk to your HR person. Many companies are affiliated with groups that will provide discount tickets to events or help you do a good deed by matching your charitable gift giving. Of course you must Always take advantage of any matching 401k contributions.

Ideas for saving money: Small

• On-line-banking: paying your bills on line will save you on stamps,time and checks, plus you can set up alerts to tell you when a bill is due thus avoiding late charges.

• ATM machine: If you constantly use those machine, make sure your bank will reimburse any fees from other institutions. Otherwise carry a higher cash amount with you or restrict your usage to your own bank.

• Babysitting: If you have young children and would like to save on a night out with your spouse . Arrange with some friends to drop them off and you can return the favor on their night out. The children will probably have a ball, You and the other parents save money and you feel better about more adult supervision of the kids.

• Holidays: At holiday time, have a family grab bag where everyone gets two names. They are the only two gifts you'll have to buy rather than going in serious debt buying gifts for everybody. You can make home baked cookies and hand everyone else a box of them to enjoy for the holidays.

• It's in the bag: I haven't bought trash bags in years, I usually use double bagged grocery store bags to line up my trash can. It works, saves a little and is a bonus on the environment.

• Cut out the hair salon: for everyday styling, buy a kit at the store and learn to cut your family members' hair (especially the kids). Only go to the hair salon for special occasions. This will save a bundle.

• Matinees are us: For the occasional movie or theater outing, go to a matinee, the money you save goes towards dinner afterwards for an occasional night on the town.

• Don't let stress do you in: I used to run to the mall every time I was upset or stressed about something. Now I go for a walk or a run instead. If you have to go to the store make sure you leave your credit cards at home.Your body and your wallet will thank you.

• Appliances at home: Avoid waste by running only full loads on your washer/dryer as well as your dishwasher. With today's detergents most clothes will come out perfectly clean washed with cold or warm water rather than hot.

• Breakfast is not on the house: When you travel, unless breakfast is included in the package cost, never have breakfast at the hotel, it will cost you an arm and a leg. Ask the concierge to recommend local restaurants and spend 1/3 of your the hotel charge.

• Watch the pump: If you rent a car, try to always bring it back with a full tank. Most car rental companies will charge you a higher rate than what you can find on your own.