Category Archives: Saving Money

Smart Shopping Tricks to Make Your Budget Last All Month

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shopping cart postitWe can all use ways to stretch our paycheck each month, but it’s not always easy to know which expenses to focus on minimizing first. The fact is, some costs are easier to trim down than others. The strategies below will help you always score the lowest price, making it easier for your budget to go farther.

Always look for the deal.

Local drugstores often feature special deals on everything from personal care to grocery items. While the selection is generally smaller than at the grocery store, drugstores can offer even better discounts. Looking for these deals, and applying them to your purchase can generate big savings.

Register for rewards programs.

Many stores feature rewards programs, including drugstores. Walgreens has Balance Rewards, CVS has ExtraCare, and RiteAid has Wellness+. If you register for these programs you’ll likely receive frequent emails, but there will be gems among them, and you might even save 20% off an order. A smartphone app like Key Ring makes it easy to track account numbers for multiple programs.

Use manufacturers’ coupons.

In addition to browsing through Sunday circulars, you can rely on websites like coupons.com to search and print coupons at no cost to you. Since most manufacturers’ coupons usually have an expiration date that is at least one month into the future, hold onto the coupons until you find a great deal.

Look out for store coupon books.

Many stores offer coupon books, usually at the front of the store near the pile of circulars. They often contain many high value store coupons that can be combined with sales and manufacturers’ coupons for additional savings.

Shop online.

When it comes to essential drugstore items, you can often find the lowest prices online, especially when coupons are applied. Some coupons offer deeper discounts to online shoppers, and you can find everything from vitamins, cleaning supplies, personal care items and pain relievers for reduced prices.

Use blogs.

Many blogs and websites collect coupons and deals for readers, which makes your job even easier. Sites like Retailmenot.com research and sort deals for you, and you can often match the deals with sales in circulars.

Don’t pay full price.

Most retailers make it easy to find deals online. In fact, you should never pay full price for your purchases, at least before checking for discount codes. Signing up for store email lists will also help make sure you don’t miss out on discounts.

Get an Amazon Prime membership.

It might sound counterintuitive, but purchasing an Amazon Prime membership can actually end up saving you money. That’s because it comes with two-day shipping on most orders, movie and TV streaming, and one free book rental per month. You can try out a 30-day free trial membership to see if it would end up saving you money.

Write a review.

Some companies are willing to pay customers, in the form of discounts, for leaving reviews on their products listed online. HonestFew and SnagShout are a couple companies that make this process easy. Once you receive items at a low price (or sometimes even free), then you simply log in to leave your review, whether it’s good or bad.

Buy a reusable water bottle.

Going through a handful of water bottles a day is expensive, unnecessary, and bad for the environment. Instead, pick up a reusable water bottle for yourself. You can even get one that comes with a built-in carbon filter to remove tap water impurities. Your body, and the Earth, will thank you.

Use apps.

Many stores have made it even easier to save these days by introducing their own apps. These apps offer special discounts to shoppers that cannot be found anywhere else, and saving is as easy as opening the app and seeing what deals are available. You can even do this while standing in the checkout line. Other apps, like Shopkick, work at many stores. You can earn points by checking in at stores and making purchases, and then using those points to earn gift cards.

Plan ahead.

Planning out meals in advance is one way to keep grocery store costs down because you can minimize waste or unnecessary purchases. You not only cut out impulse purchases at the grocery store but also eliminate the need to order delivery on those nights you realize you don’t have anything to make. Pinterest can also help with new recipe inspiration if you’re feeling stuck.

Article Source: Lisa Koivu for http://money.usnews.com/money/personal-finance/articles/2015/10/20/smart-shopping-tricks-to-make-your-budget-last-all-month

5 Ways to Save Money When You’re Broke

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save-moneyIt can be hard to save money at any time, but it is particularly difficult when you feel like you are broke. If you can barely afford your bills and you are living paycheck to paycheck, saving money is probably one of the last things on your mind. However, you can still save money when you’re broke. In fact saving money, even if it is a little, is a key step to stop being broke.

As long as you are making some money, you should be saving some. Especially if you routinely have insufficient funds, it’s important to make a habit of saving money. Despite the fact that you have little extra funds, there are ways to save. Cutting costs, sticking to a budget, and saving a little at a time are all ways that you can save money, but there are other ways as well. Here are five ideas to consider.

1. Cut out the extras. An easy way to save money when you’re broke is to cut costs. You may think there is nothing you can cut out at first, but think a little harder. If you are truly “broke” then you need to let some things go. Do you really need such an expensive cell phone plan? What about cable television? Can you use the internet at the library or use WiFi instead of paying a monthly fee?

There are many things that we consider necessities that are really just extras, and cutting some of those will quickly free up more money. Take a look at your monthly bills, and decide what is really necessary. If you want to stop being broke, you may have to cut out some of the extras for a while.

2. Eat at home. Grabbing lunch on the go is so much easier and more convenient than bringing a lunch to work, but doing this regularly will really eat away at your income. According to Living on A Dime, eating out is a common way people get into personal debt. It’s easy to rationalize eating out because you are too busy to cook, or you are a bad cook. However, making food at home will truly save you money, and if you want to save money, you need to make the time and the effort to cook at home. You can save time by making several meals over the weekend and freezing them to use during the work week. If you simply don’t know how to cook, buy a cookbook for beginners.

3. Make a budget. If you don’t have a budget, your first step should be to make one. Perhaps you already have a budget, but there are several reasons a budget can fail. If you recently lost your job, or your income somehow changed but you are using the same budget, you will need to make a new one. You also may need to look at your budget and see if it is really reasonable and if you need to adjust anything.

According to Lifehacker, if you are broke and budgeting, there are several steps that can help. Start by assessing your financial situation, cut back on expenses (as mentioned in point one), and be frugal. There are other steps you can also take, including paying down your debt.

4. Save a little at a time. If you’re completely broke, the idea of saving anything probably seems unreasonable. However, you have to get into the habit of saving if you are going to save more in the long run. It’s important to think about the future: write down your financial goals, even if they seem completely out of reach. Then, start saving. If you are saving nothing right now, then any savings is an improvement. Once you cut your extras and start following a budget, you can use some of the discretionary money to save for your future.

Another idea is to get a second job. Even if you only work a few extra hours each week, but you put all the money in a savings account, you will quickly see a change in your financial situation.

5. Avoid common mistakes. You can make plenty of good decisions about your finances, but if you make a few poor decisions, you will still have a hard time saving. Some of the worst things to do when you are broke include splurging when you get money, prioritizing convenience, taking on too much debt or making poor decisions about debt, living beyond your means, and having no savings at all.

It’s really easy to live above your means, but this is one of the easiest ways to get into debt. If you have a hard time controlling your spending, try setting a budget and then doing envelope budgeting (you can modernize this practice with a few steps). Also, be careful about the debt that you incur. You need to avoid the worst financial mistakes if you really want to save.

Saving money isn’t easy, but if you take the time to put these five steps into practice, you will be off to a good start!

4 Ways to Trick Yourself Into Saving More Money

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empty magic hat with wand isolated on white

Think you’ve run out of ways to save? Think again. While it might not seem possible to squeeze any more savings out of your budget, you can find new ways to save by changing some of your money habits. But as we all know, old habits die hard. So to instead of struggling to change your spending patterns cold turkey, here are four easy ways to trick yourself into saving more money.

1. Ignore Windfalls, Pay Raises & Bonuses

Whether it’s a $5 scratch-off or a big tax refund, whenever you come into contact with some unexpected funds, ignore it and put it away. It’s best to get into the mindset that unexpected money is best spent by planning for your future or paying off money owed. Before you know it, you’ll have that credit card bill or emergency fund finally taken care of!

2. Try Cash Only

Sometimes it can be a little too tempting to go over budget when using a debit or credit card. Keeping yourself to a strictly cash only lifestyle for a couple weeks is a great way to make sure you stay on budget. Just put your cards in a drawer or, if you don’t trust yourself to leave the cards in a drawer, freeze them so it will take a lot of work to use them. You should also look to remove your credit cards from any online accounts to keep yourself from splurging! This is especially important if you’re carrying a balance — which you are hopefully paying down.

3. Take Five

The next time you’re about to make a big purchase, wait five days. Taking time to contemplate your purchases can help you avoid unnecessary spending on lavish items, or maybe even find a better deal online or at another store. Delaying your purchases can also give you time to really investigate the impact the purchase might have on your budget and whether or not it could keep you from reaching your financial goals. You may discover that your long-term financial security means more to you than having a giant TV for a couple of years.

4. Put It On Auto Pilot

Instead of heading to the ATM or a bank branch to transfer money from checking to savings, why not bring your finances into the 21st century and have your financial institution or employer do it for you? Automating your savings, whether for retirement, an emergency fund, or any other long-term goal, can make it very easy to stay on track and ensure your goal will be reached! Plus, seeing a little less in your checking account each week will keep you honest and help you cut back on your overspending habits.

You don’t have to make more money to save more money. Saving efficiently really boils down to how you spend and manage your money. So the next time you find yourself falling a little short of your savings goals, look at the way you’re making your purchases and how transferring your money into a savings account. Just taking a closer look at your money habits can do wonders for your financial well-being.

Article Source: Leslie Tayne for http://blog.credit.com/2015/04/4-ways-to-trick-yourself-into-saving-more-money-115116/

10 Ways to Save Money Before Labor Day

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end of summer savingsLabor Day is only about a month away, which means summer is coming to an end. It also means your bank account might be bracing for a hit as you squeeze in a trip, start stocking up on back-to-school items for your children, or send a child off to college.

To prepare for these and other costs, you can take several steps to lower your expenses and save money on things you need to buy this month. Here are 10 ways you can save money before Labor Day:

1. Lower Your Cooling Costs.

If you’re cranking up your air conditioner to combat a heat wave, be prepared for a hefty electric bill. To keep costs low and stay cool, try the following tips:

  • Fans cost less to operate than air conditioners. You can raise your thermostat by four degrees and feel no reduction in comfort if you turn a fan on also.
  • You can lower your air conditioner’s energy consumption by 5% to 15% by replacing or cleaning dirty filters.
  • Cook outside using a grill to avoid heating your home with your oven.

2. Freeze Your Gym Membership.

If you’re not using your gym membership because you’re exercising outdoors or taking a summer trip, then freeze your membership. Putting your membership on hold can allow you to avoid any early termination fees if you have a year long contract, and save money on your membership fee during months when you’re not using the gym.

3. Save on School and Office Supplies.

Families are expected to spend an average of $97.94 on supplies such as notebooks, pencils and backpacks for school-age children this year, according to the National Retail Federation. You can keep the cost of school supplies under control by shopping back-to-school sales at retailers such as Target and Walmart, and office supply stores such as Staples.

Even if you don’t have kids, you can benefit from these sales – especially for office supplies.  Plus, you’ll find great deals on laptop computers in August as part of back-to-school sales, according to DealNews.com.

4. Take Advantage of Sales-Tax Holidays.

Seventeen states have back-to-school sales-tax holidays in August, according to the Federation of Tax Administrators. These holidays offer consumers an opportunity to avoid sales tax on clothing, footwear and school supplies. Some states even waive the sales tax on computers.

5. Start Price-Shopping for Holiday Travel.

The winter holidays are months away but now is the time to start comparing airfares “so you can lock in a good price when you find one,” said Holly Johnson, a frugal travel expert who blogs at ClubThrifty.com. To get the best price on airline tickets, you need to book flights at least 27 to 114 days in advance, according to a study by CheapAir.com. Flights for holiday travel fill up quickly, so you’re better off booking sooner rather than later.

6. Sign Up for a Rewards Credit Card.

If you are going to do some back-to-school shopping, book holiday travel or take a trip before Labor Day, take some of the sting out of that extra spending by using a credit card rewards.

Here at First Financial we offer a Visa Platinum Cash Plus Credit Card with no annual fee, a 10-day grace period+, and a uChoose Rewards program where you can redeem points for gift cards, merchandise items, travel, and so much more!*

7. Get Freebies From the Library.

If you have kids, you’re likely hearing them complain by now that they have nothing to do. To fend off boredom, take them to the local library to pick out books and DVDs for free. Whether or not you have children, you also can take advantage of free programs at your library, such as writing workshops or lecture series, in an air-conditioned environment.

8. Watch Inexpensive or Free Flicks.

Another way to keep the kids entertained in the weeks before school starts — without spending a lot of money — is to take advantage of discounted family movies at theaters. For example, Regal Entertainment Group, which operates 569 theaters in 42 states, charges just $1 for tickets for family movies at 10 a.m. on Tuesdays and Wednesdays.

Additionally, plenty of communities offer free movies in parks. Check for listings on community calendars, the parks and recreation department, or local government websites.  Or check out our First Scoop Blog’s monthly things to do on a budget in Monmouth and Ocean Counties series!

9. Cut Food Costs With Seasonal Produce.

A great way to lower your grocery bill is to buy produce that is in season where you live, because the prices will be lower on those fruits and vegetables than ones shipped in from other areas of the country or other parts of the world. You should be able to take advantage of late summer fruit and vegetable harvests to save money this month.

10. Snag Summer Clothing on Clearance.

Retailers are making way for fall clothing in preparation for back-to-school shopping crowds, which means you can score serious savings on summer apparel. Expect discounts of 60% or more on summer staples, which you’ll still be able to wear for a few months and into colder months by layering. If you shop before Labor Day, you’ll have a better and bigger selection.

*APR varies up to 18% for purchases, when you open your account based on your credit worthiness. The APR is 18% APR for balance transfers and cash advances. APRs will vary with the market based on the Prime Rate. Subject to credit approval. Rates quoted assume excellent borrower credit history. Your actual APR may vary based on your state of residence, approved loan amount, applicable discounts and your credit history. No Annual Fee. Other fees that apply: Cash advance fee of $10 or 3% of the total cash advance amount—whichever is greater (no maximum), Balance transfer fee of $10 or 3% of the balance—whichever is greater (no maximum), Late Payment Fee of $29, $10 Card Replacement Fee, and Returned Payment Fee of $29. A First Financial membership is required to obtain a Visa® Credit Card and is available to anyone who lives, works, worships, or attends school in Monmouth or Ocean Counties.

+No late fee will be charged if payment is received within 10 days from the payment due date.

10 Simple Money Saving Tips

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bigstock-Saving-money-jarSome of the more frequently talked about personal finance tips can come across as unreasonable, too difficult, too time consuming, or irrelevant. Yet, the search continues across all income brackets for how to comfortably spend less and save more.

Below are 10 simple money saving tips that you may not have thought about – each with some serious financial benefits. Saving money does not have to be a chore, it’s an accumulation of habits and adjusted perspectives, none of which are detrimental to your daily routine.

The goal of these 10 tips is to not overhaul your life, but to make manageable, tiny tweaks that carry a big bang at the end of the year.

1. Use Cash. After setting a budget, take out cash for your entertainment spending pocket. It’ll ensure that you do not spend above the designated amount. Since a coffee here and burger there, really adds up and quickly – making sure that those erroneous expenses are always paid in cash will help you stay on top of that expense area (an area frequently a victim of the swipe and forget plague).

2. Adjust That Thermostat. Turn your heat down ten degrees and the a/c up two degrees. Utility companies have reported that even just a consistent two degree shift can save you money without leaving you miserable. The same principle can apply for pre-setting programmable thermostats to change throughout the day, adjusting for when you are away from home or asleep; with a more drastic change while you are away (10 to 15 degrees for eight hours). Your savings could be as great as 15 percent a year, says Energy.gov.

3. Help Santa Save. Consider early prep for holiday shopping. Either look throughout the year and really benefit from sales, or consider the benefits of buying a gift card monthly and setting it aside for yourself. Come December, with just $25 gift cards each month, you will have set aside $275 specifically for holiday spending.

4. Drink More Water. By replacing just one soda, coffee or beer each day, you not only invest in your health, but you could save some serious change. If you eliminate one $5 coffee just three days a week, that’s an additional $780 dollars at the end of a year’s time. Or, if you have that fancy coffee addiction, consider getting a coffee machine and buy your favorite grounds in bulk. Bulk buying can save money as well.

5. Eat In. Avoid the frequent trap of not wanting to cook and resorting to dragging the whole family out to eat despite your pantries being full. If inspiration is the missing link, try setting a weekly menu for the household, alternate cooking responsibilities or even involve the whole family in meal prep every night. And, instead of letting the “I have to cook or we will end up eating out” mentality get you in trouble, keep a few home cooked meals prepped and frozen for those moments of dinner despair.

6. Shop Smarter For Groceries. Clipping coupons isn’t for everyone. It can be time consuming and require more organization to truly be effective than some people’s attention spans and patience can handle. Shop smarter, even if you don’t use on coupons. Look for sale items and weekly promotional deals. Shop what’s in season for your fresh produce. Try store brands; many canned products and dried products have the same ingredients as name brand products.

7. Find A Penny, Pick It Up. Save loose change. If you were to save an average of fifty cents a day, you would have almost $200 set aside at the end of the year. Keep an old water jug set up so that you can watch it fill up throughout the year.

8. Stop Before You Swipe. Sometimes it’s all about perspective. When looking at a frivolous purchase, consider the cost against your income. If you earn $15 an hour and are holding up a $300 suit, ask yourself if you are willing to work 20 hours with only the suit to show for your labor at the end. The same can be done for smaller purchases as well. Is that 32 ounce, blended chai tea latte with soy worth the first thirty minutes of your workday? This method is not a way to talk yourself out of making purchases, but simply to put the expense in a framework.

9. Keep The Car In Check. Stay on top of regular, necessary car maintenance. Doing so can save a pretty penny in gas costs alone, not to mention the costs you can avoid from a side of the road breakdown or preventable tire blow out.

10. Use Your Phone. Sometimes it’s as simple as knowing what is going in with your finances. Awareness brings control; so go ahead and download a personal finance app. There are plenty available that have been professionally reviewed and approved. Additionally, many of the highest rated are free. Remember though, the key is to not only have the app, but to use it. The icon or widget is only as useful as you make it.

Article source courtesy of Joe Young of NASDAQ.