Tag Archives: Saving Money

How to Be Frugal Without Wasting Your Time

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bigstock-Portrait-Of-Happy-Business-Wom-64512829-e1455714572209A lot of people think frugality is about saving money at the cost of your time: you spend all day clipping coupons just to save a couple bucks on your groceries…that’s not what being frugal is. Your time is precious—more precious than money—and being frugal is about using both your time and money wisely. Here’s how.

Pick the methods with the biggest payoff.

You’ve probably heard the saying, “penny wise, pound foolish.” This means going out of your way to save $5 on gas when you have a $500 car payment or buying nothing but Ramen for the week when you mindlessly spend $300 on drinks while you’re out every month. It’s a waste of time to scrimp and save on the pennies when you’re blowing big money like it’s nothing.

When you’re trying to shrink your budget, you want to focus on the big stuff – meaning the categories with the largest payoff. These are typically the three most expensive categories in your budget:

  1. Housing: According to the Bureau of Labor Statistics, housing makes up about 30 percent of the average American’s annual expenses.
  2. Food: Makes up 12 percent.
  3. Transportation: Makes up 17 percent.

Some frugal solutions are easier than others, but to toss some general ideas out there, you might:

  • Move to a cheaper area.
  • Negotiate your rent.
  • Cut back on your restaurant spending.
  • Find a better way to meal plan.
  • Carpool on your way to work.

Making a single frugal decision in these expensive categories will give you the quickest, biggest bang for your buck. Similarly, when you’re trying to save money on anything else, keep your eye on the big picture—what money saving tactic will net you the largest overall savings?

For example, let’s say you’re planning a nice, relaxing two-week vacation. There are a lot of ways you could cut costs: stay in a hostel, cook instead of going out, house sit for someone in exchange for lodging. Those are all valid ways to save, but you’ll save more if you focus on the biggest expenses, like your flight and lodging. You can save a ton by simply flying at the right time, when travel is cheap. By choosing to travel six to eight weeks before or after high season (called the shoulder season), you could easily save you hundreds if not more.

Use technology to find deals and coupons automatically.

Focus your energy on larger items, then automate your savings everywhere else by downloading a few browser extensions to find deals for you.

We all love a good deal, but if it takes you two hours of research to find a new laptop that’s only $25 cheaper, that might not be the best use of your time. Thankfully, there are so many tools out there that find the best price for you.

You could also use a browser extension like Honey or Coupons at Checkout to automatically find coupon codes when you shop online at thousands of popular, participating retailers like Amazon, Target, Gap, and Best Buy to name a few. When you go through the checkout process online, the extension will automatically populate and enter in coupon codes so you don’t have to search for them yourself.

Beyond couponing, you can automate your frugality in other areas too. Save money on your monthly electric bill by installing a smart power strip that knows when to turn off all of your electronics, or tweak the energy settings on your TV, computer, and other gadgets. Call your utility providers and negotiate or find better rates for Internet, cable, cell phone service, gym membership, and car insurance. Even though this might require a little effort, you’ll save money every month without having to do any additional work.

Come up with rules for making smarter spending decisions.

Unless you’re Warren Buffett, you’re probably not in a position to drop $700 on a phone. So while it’s important to think about your spending, wavering over some purchases can also be a huge waste of time. To combat this, establish some rules for your spending decisions.

If you’re incredibly indecisive about even the most frivolous spending, try the “10/10 rule” for small purchases. If you’re thinking about buying something that’s ten dollars or less, try not to spend more than ten minutes thinking about it. This comes in handy when you’re in a store and you pick up something you like and throw it in the cart (especially at Target). Give it some thought first, but if you haven’t put it back and it’s less than ten dollars, then you could buy it – but if it’s more than ten dollars and you’ve spent ten minutes thinking about it, put it back on the shelf. It’s a really simple rule and helps for those one-off, impulsive items.

Another rule for larger purchases is setting a dollar amount at which you give yourself at least a week to think about the purchase – like a $100 pair of Nike sneakers. If you’re thinking about buying anything that costs $100 or more, give yourself a week to think it over. It’s not to say you won’t automatically buy anything you see that’s $99—this tactic just gives you ample time for larger decisions.

A few simple rules can help find a balance between being mindful about your spending and overthinking it to the point of wasting your time.

Make sure every purchase is worthwhile in the long-term.

When you’re trying to be frugal with both your time and money, it helps to consider the long-term impact of your spending too. This is why it usually makes sense to buy a quality item even if it costs a little more because the cheaper item will eventually cost you more in the long run. Let’s say you buy a pair of cheap boots that you have to replace every winter. You’ll actually spend more over time than if you were to just buy quality boots in the first place. Not only that, but also think about the time you spend shopping for new boots every year. Buying quality means you buy once, and you won’t have to waste time doing it again for several years – of course, expensive doesn’t equal quality, but your time is still valuable.

*Original article courtesy of Kristin Wong of TwoCents.com.

Financial Choices You’ll Regret in 10 Years

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According to self-made millionaire David Bach, you don’t have to earn a lot of money to get rich. You don’t even need remarkable willpower to build a fortune.

Bach exposes these misconceptions, and more, in his book “The Automatic Millionaire.”

Before you write yourself off as an “average earner,” consider these common misconceptions Bach outlines about money:

1. You don’t have to make a lot of money to be rich.

“How much you earn has almost no bearing on whether or not you can and will build wealth,” Bach writes. “Regardless of the size of your paycheck, you probably already make enough money to become rich.”

On the flip side, a salary with a bunch of zeros tacked on the end doesn’t necessarily equate to wealth. At the end of the day, it’s just a number — and if the cash behind that number is not managed properly, it can disappear in the blink of an eye.

As Robert Kiyosaki, author of the personal finance classic, “Rich Dad Poor Dad,” emphasizes in his book, “Most people fail to realize that in life, it’s not how much money you make. It’s how much money you keep.”

The good news is that anyone can start saving — you don’t need to be rich to invest and take advantage of the power of compound interest. You just have to be smart about it and start as early as possible. When you start to save outweighs how much you save.

2. You don’t need discipline to get rich.

The ultimate money managers don’t necessarily work harder — they don’t have extraordinary willpower or discipline, Bach emphasizes. They simply automate their finances, meaning their money is automatically sent to their investment accounts, savings accounts, and creditors before they even have the chance to spend it. This allows even the laziest of people to grow their wealth.

“Making your financial plan automatic is the one step that virtually guarantees that you won’t fail financially,” Bach writes. You’ll never forget a payment again — and you’ll never be tempted to skimp on savings because you won’t even see the money going directly from your paycheck to your savings accounts. It also frees up valuable time and allows you to focus on the fun parts of life, rather than spend time worrying about whether you paid that bill or if you’re going to overdraft again.

3. You don’t need to be your own boss to get rich.

There’s a lot to be said about self-employment — many self-made millionaires determine the size of their own paycheck by building their own businesses, while average people tend to settle for steady paychecks.

Rest assured, if the entrepreneurial path isn’t for you, “you can still get rich being an employee,” Bach writes.

It all starts with investing in your employer’s 401(k) plan, if one is available. You’ll get large tax advantages, the money is automatically taken from your paychecks before you have the chance to spend it, and sometimes your employer contributes money to your account in what’s known as an employer match.

Perhaps most importantly, it allows you to compound money over time — and compound interest, if taken advantage of from a young age, can make you a millionaire.

As Bach writes:

The single biggest reason why paying yourself first into a retirement account at work is such an effective way to build wealth is that you make it automatic … Because this process is automatic, the chances are pretty good that you will continue doing it for a long time.

And by doing that, you will get to enjoy the benefits of a mathematical phenomenon most people don’t really understand but everyone can use to become rich — the miracle of compound interest. It comes to this: Over time, money compounds. Over a lot of time, money compounds dramatically!

To see just how much your money can compound, check out these charts. Or read about how one man is on track to accumulate just under $2 million by age 60 by maxing out his 401(k) plan.

4. You can build a fortune on a few dollars a day.

“The trick to getting ahead financially is watching the small stuff — little spending habits you have that you’d probably be better off without,” Bach writes. “Most of us don’t really think about how we spend our money — and if we do, we often focus solely on the big-ticket items while ignoring the small daily expenses that drain away our cash … We don’t realize how much wealth we might have if, instead of wasting our income, we invested just a little of it.”

He illustrates this idea with what he calls “The Latte Factor,” which basically says that if you ditch your $4 latte every morning, you’d have quite a bit of money to contribute towards savings — about $30 a week, or $120 a month. Over the course of a few decades, that money could grow substantially.

“Whether you waste money on fancy coffee, bottled water, cigarettes, soft drinks, candy bars, fast food, or whatever it happens to be — we all have a Latte Factor,” Bach writes. “We all throw away too much of our hard-earned money on unnecessary ‘little’ expenditures without realizing how much they can add up.”

To give you an idea of how much money you could have if you identified and eliminated your Latte Factor, he gives the example of making a $5 purchase (the average cost of a latte and a muffin) each day, which would cost you $35 a week and about $150 a month. If you invested that $150 instead, assuming a (very generous, admittedly) 10% annual return, you’d wind up with $30,727 after 10 years, $339,073 after 30 years, and $948,611 after 40 years, he explains.

Original article source courtesy of Kathleen Elkins of Business Insider.

3 Steps to Prepare Your Finances for a Good Year

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January is over and for many of us, that means New Year’s resolutions are almost out the window. But we still have most of 2016 ahead of us. Here are a few ways you can set yourself up for financial success this year and beyond.

1. Adjust your tax withholdings.

When it comes to income tax, the goal should be to come out even. On April 15, you don’t want to get a huge refund or a huge tax bill.

Getting a refund is exciting, and it’s not a bad way to accumulate savings. But remember, that means the government has held your money for the entire year without paying you interest. In essence, you gave the government a free loan. To avoid this situation, decrease the amount of income tax you have withheld by your employer.

If you’re in the other camp and receive a big bill, that’s another reason to revisit your withholding amount. In this case, you should increase the amount of taxes being taken out of your paycheck each month.

And if your life situation changes in the middle of the year — for example, you get married or divorced or have a baby — you should also take another look at your withholding amount.

2. Increase your 401(k) contributions.

Are you saving enough for retirement? Now is a good time to review your year-end 401(k) statement or pay stub and find out how much you contributed to your retirement plan in 2015.

At the minimum, you should contribute enough to qualify for your employer match, if you have one. If you have more money available, shoot for the maximum allowable contribution in 2016 ($18,500); if you’re over 50, set up additional “catch-up” contributions of $5,500.

Making these changes early in the year will ensure that you plan your monthly cash flow around your higher contributions. And if you wait until the middle of the year to adjust your contribution amount, you’ll have to save much more each month to reach your savings goal.

Have you had your financial portfolio reviewed lately? We invite you to set up a no-cost consultation with the Investment & Retirement Center located at First Financial to discuss your current finances and future savings goals. Contact us at 732.312.1564, email mary.laferriere@lpl.com or maureen.mcgreevy@lpl.com, or stop in to see us at any branch location!*

3. Review your employee benefits.

Check your company’s resources page to make sure you’re taking full advantage of the useful — and often free — benefits it provides.

Review your current benefit elections to determine what coverage — such as health, life or disability insurance — you have in place and whether it’s still adequate. Life changes — again, including getting married or divorced or having children — can be good reasons to adjust your coverage.

If you do need to make changes, ask about your company’s open enrollment period; this is often the only time you can make changes to your coverage, unless you experience a qualifying life event, like the ones mentioned above. On the other hand, you may change your 401(k) options on a fairly regular basis.

Pay close attention to your benefits. Incorrectly selected or overlooked benefits can cost you money.

The Bottom Line

Doing these tasks early in the year can help you commit to improving your finances in other ways during the rest of the year. So don’t wait — tackle these steps today to set yourself up for a financially successful 2016.

*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker/dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Financial Federal Credit Union (FFFCU) and First Financial Investment & Retirement Center are not registered as a broker/dealer or investment advisor. Registered representatives of LPL offer products and services using First Financial Investment & Retirement Center, and may also be employees of FFFCU. These products and services are being offered through LPL or its affiliates, which are separate entities from and not affiliates of FFFCU or First Financial Investment & Retirement Center.

Securities and insurance offered through LPL or its affiliates are:

Original article courtesy of Anna Sergunina of NerdWallet.

8 Simple Ways to Stretch a Dollar

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Living within your means is the foundation of financial health. But, that’s easier said than done. If you find yourself in the red at the end of too many months, you’re not alone. “Sticking to a budget” is the No. 1 financial challenge for Americans, according to a recent GOBankingRates survey.

To get the best savings advice, GOBankingRates turned to the smartest money experts out there — the finalists of our “Best Money Expert” competition, we asked them:

“What are the best ways to stretch a dollar?”

In response, these experts delivered strategies to save more, spend less and make room in your budget for what’s really important. Click through to read their tips.

1. Go on a Spending Freeze.

Nicole Lapin, a consumer expert and New York Times best-seller author, shared this advice for those looking to get more out of their budgets: “Go on a spending freeze with your partner, colleagues, or best friends.”

To put this spending freeze in action, Lapin suggested looking for everyday ways to spend less, like staying in with inexpensive bottles of wine over heading to the bar, or hosting a clothing swap with friends instead of going on a shopping spree.

Lapin is a big believer in the power of friends to support each other in creating better financial habits. “Create a support system, and help each other,” she said. For example, if you really want to buy something but you have a savings goal, “save with a friend,” Lapin suggested. “She likely has something on her wish list, too, and it’s easier to commit to saving long-term if you go in on it together.” You can even up the ante, and “create a friendly competition around who is doing best at cutting expenses — think ‘The Biggest Debt Loser,'” said Lapin.

You’ll see big results as you work to curb overspending, but a strong support system is key. “As money issues become more intense, a like-minded community will keep you sane and moving in the right direction,” Lapin said.

2. Stop Mindless Spending.

Tony Robbins, a business and life strategist and bestselling author of “MONEY: Master the Game,” said that stretching the value of a dollar means spending it on what will add the most value to your life.

“Focus instead on the returns you’ll reap tomorrow,” Robbins said. “Often you can have the same level of enjoyment, if not more, by doing something simple.” For instance, if you’re getting together with friends, why not skip the $50 restaurant meal and “order in a couple pizzas and beers and split the cost among your group?” Robbins suggested. “Trade one good time for another, save yourself about $40 each time out, and you’ll be way ahead of the game.”

While saving $40 at a time doesn’t sound like much, this kind of mindfulness adds up. “[Save $40] once a week, and put those savings to work, and you could take years off your retirement time horizon,” Robbins said. That $40 a week adds up to $2,000 a year, which you can use “to harness the power of compounding and help you to realize big, big gains over time.”

“How big? How about $500,000 big?” Robbins said. “That’s right, a half million dollars. How? With the power of compounding at 8 percent over 40 years, that $40 weekly savings — $2,080 per year — will net you $581,944.

3. Always Be on the Lookout for Savings.

“Always look for a way to save, and don’t let saving opportunities pass you by,” said Jeanette Pavini, a finance reporter and spokesperson for Coupons.com. Pavini makes it her mission to help readers find easy and simple ways to save a little everywhere they shop. “There are so many opportunities to save out there, and it typically only takes a nominal amount of effort to take advantage of them.”

“In fact, I almost never make a purchase without applying some type of savings,” Pavini continued. “For example, buy a box of cereal on sale, apply a coupon from Coupons.com, get 2 percent back in credit card rewards, clip the box top so 10 cents goes to my child’s school, and use my grocery store loyalty card so I get points toward gas saving. One box of cereal — five different savings strategies.”

4. Try Envelope Budgeting.

For those who have trouble sticking to a budget, “I recommend that on payday, you take out the dollar amount you need until the next pay period and split it up among your envelopes,” said Clark Howard, host of popular nationally syndicated radio program “The Clark Howard Show.” “When one envelope empties, you either take money from another envelope or you do without until next payday.”

Moving to a cash-only system can help you cut spending and get in the habit of more carefully considering purchases. “Debit cards and credit cards can be the Bermuda Triangle of your wallet because it’s so easy to lose track of finances when you use them,” Howard said.

If you’re more high-tech, Howard said you can try a method invented by his executive producer, Christa. “She hit on the idea of putting money into different accounts for different purposes,” Howard said. “Today, she has three checking accounts and one savings account.”

5. Stack Discounts to Lower Your Grocery Bill.

Kyle Taylor, founder of popular personal finance blog ThePennyHoarder.com, gave this personal finance tip to families looking to stretch their dollars: “Groceries are often one of the largest expenses for families, so it makes sense to start here when you’re looking for ways to cut back.”

For true savings, Taylor’s advice is to look beyond the obvious. “We all know about couponing, but saving money is way easier when you know how to stack discounts.” Instead of settling for using just a coupon to save, you can combine that coupon with other savings strategies to cut your grocery budget down. “Utilizing an all-of-the-above strategy has helped me reduce my grocery bill by more than half,” Taylor said.

A favorite tip that Taylor uses is buying discounted gift cards from sites like Raise.com, which includes cards from grocers like Kroger, Whole Foods and Target. “These gift cards are sold for 1-25 percent below face value, meaning that I’ve saved money before ever stepping into the grocery store,” Taylor said. “I stack those savings on top of my regular coupons and then combine it with grocery rebates from apps.”

6. Get More Money Flowing In.

Of course, the advice to “spend less than you earn” is an equation that has two parts — how much you spend and how much you earn. Entrepreneur and performance coach Josh Felber has made it his mission to help people achieve success by following their passions, and in his view the best way to approach the “spend less than you earn” equation is to focus on the second part.

Instead of trying to stretch dollars, “always have a consistent flow so you don’t have to stretch,” Felber said. There’s a limit on how far you can cut your spending — everyone needs to cover the basics. But if you focus and invest in earning more, there’s no limit on how much your income can grow.

7. Put Your Money to Work.

Another “Best Money Expert” finalist, Robert Kiyosaki, emphasized the importance of getting more out of your money. “Invest it,” said the entrepreneur and author of “Rich Dad Poor Dad,” the self-proclaimed No. 1 personal finance book in the world.

Investing is the key to achieving true financial freedom. “Put your money to work for you … instead of working for money all your life,” Kiyosaki said.

8. Negotiate.

To truly stretch a dollar, never accept an initial price or offer. Whitney Johnson, an investor, innovator and author of bestselling book “Disrupt Yourself: Putting the Power of Disruptive Innovation to Work,” said that you should “negotiate, even when you think you shouldn’t.”

Negotiating is one of the best ways to make sure you’re getting the most value for your time, money or other resources. Johnson suggested following this advice, or “else you will earn too little or spend too much.” Fail to negotiate, and you’ll lose out on dollars you could have saved or bigger paychecks you could have earned.

7 Money Questions to Ask Yourself in the New Year

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Will you make financial resolutions for 2016? If so, you’re not alone. According to a study done by Fidelity Investments, financial resolutions are the most popular kind of new year self-improvement. Not only that, but they’re also the most successful, with 29% of people surveyed reaching their financial goals and 74% getting halfway there. Compared to the 12% success rate for resolutions concerning health and fitness, planning to get your finances in order seems like the way to go this year!

You don’t want to just make resolutions, though — you want to be part of the 29% that stick with them all the way through the year. To set yourself up for financial success in 2016, you first need to understand your relationship with your finances.

1. What are your financial goals for the year?
A new year often means new goals and milestones in your life, and your financial plan needs to change to keep up with those. Maybe last year you were saving for a trip abroad, but this year you are saving for a down payment on a house. Or maybe you’re edging closer to retirement and need to start saving more aggressively.

Don’t be vague when identifying these goals. A concrete milestone, such as “I want to add $6,000 to my emergency fund” is going to keep you motivated a lot longer than a vague one like, “I want to save money.” Once you know what your financial goals are, you’ll be able to come up with a spending and budgeting plan for how to reach them.

2. What are your personal priorities for 2016?
Factors other than financial goals should influence your budget, too. Is it important to you to spend time with friends on a weekly basis? Add a “fun” line in your budget for activities like eating out, movies, and weekend activities. Do you want to support the arts in your community? Set aside money for a seasonal subscription to a local theatre or orchestra. Do you have specific causes that you care about? Budget a monthly allowance for donations or charity.

When it comes to finances, it’s easy to fall into the trap of letting your financial goals determine your spending. But life is more than just retirement and mortgages. Give yourself permission to let your personal priorities influence your spending decisions, too. You’ll be happier, more satisfied with your financial life, and better able to stick to the budget you set.

3. Where did you slip last year?
The new year is an excellent time to take stock of what did and didn’t work in the past year — that includes where you didn’t quite follow your budget. Did you eat out more than you should have in 2015? Not save as much for retirement as you wanted? Impulse shop too frequently?

You can’t improve in 2016 until you know where you went wrong the year before. Take some time to look at your spending from the last twelve months and identify the area where you slipped up. The make a plan for how to avoid those mistakes this year. You may need to automate the money that goes into your savings and retirement accounts. You may need to exercise a little more restraint in your spending. Whatever the solution, it will be easier to put into practice once you know what the problems are.

4. What are your mandatory expenses?
Once you know your goals, priorities, and weak spots, it’s time to begin setting up your budget. Start by identifying the living expenses that you must pay every month. These will include your rent or mortgage, insurance bills, utilities, and any debt payments. Budget for these expenses first, subtracting their total from your monthly income after taxes. Whatever is leftover is what you have available for variable expenses.

5. How much can you save each month?
Once you’ve determined how much to set aside for mandatory expenses, it’s time to look at savings. Savings can include long-term goals, like retirement, or short term goals, like a vacation. Identify everything that you want to save for this year, then order them in terms of urgency.

Some goals, like retirement, you should save for every month. Other things, like travel or large expenses, can be saved for one at a time. Once you’ve met one savings goal, you can move on to the next one. When you decide what you’d like to contribute to each goal, the best way to stay on track is to make saving non-optional. Set up an automatic transfer, either from your paycheck or your checking account, to put the money directly into savings as soon as it lands in your bank account. You won’t risk spending it accidentally, and you will ensure that you make monthly contributions towards your savings.

6. What are your spending triggers?
A lot of financial management is about cutting spending — reducing your insurance bill, avoiding credit card interest, eating out less. But all the small cuts in the world won’t help if you don’t know your spending triggers.

Spending triggers are those moments or circumstances that make you pull out your credit card and break the rules of your budget, even when you have the best of intentions. If you want to cut your spending, take some time to identify these triggers and come up with a plan to eliminate them.

If you can’t resist a coupon code when it shows up in your inbox, then you should unsubscribe from promotional emails. If you always want to eat out when you’re stressed, create a new, free routine for unwinding after a hard day at the office. Do you always spend more when you go shopping with a certain friend? Come up with other activities the two of you can do together and leave your credit card at home when you go out. Once you’ve identified your spending triggers and come up with ways to avoid them, you’ll have a much easier time sticking to your budget.

7. Where does your budget have wiggle room?
Managing your finances is awesome, and cutting down your spending to save more is a great goal. But if you are on a strict budget all the time, with no room for any lapses or fun purchases, you risk getting “budget burnout” and slipping back into old, bad habits.

To avoid that, identify the places where you can cut yourself some slack. Maybe you’re giving up eating out but can still treat yourself to a latte once or twice a week. Maybe you’re giving up cable, but you and your roommate can split a Netflix subscription. Allow yourself a few inexpensive extras and sticking to your larger financial goals will feel much less stifling.

Finally, wiggle room also means planning for the unexpected. It may seem smart to put every extra penny into savings and retirement, but what happens when your car breaks down and you don’t have any money for the repair? Leave a little wiggle room for surprise expenses, and you won’t just start a budget, you’ll stick with it.

The beginning of a new year is the perfect time to get your finances in order. Be honest and realistic with yourself as you put together your plan for 2016, and you’ll find yourself on your way to sustainable financial success!

*Original article source courtesy of the Huffington Post.

10 Life Hacks to Help You Free Up Money

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Screen-Shot-2015-09-17-at-2.15.00-PMAre you looking for ways you can cut down on expenses and put a little extra money aside? Maybe you’re looking to budget more efficiently, fund that big vacation or save for retirement.

This post is dedicated to little tricks to keep more of your money in your pocket. You can have a little fun with these things, too.

1. Call to Cancel. See How They React.

Savings doesn’t always mean going without. Sometimes when you call to cancel a service (e.g. cable, Internet, satellite radio, etc.), they’re very motivated to retain you as a client. After all, some of your money is better than none at all.

If they’re focused on retention, they may give you a reduced rate for a certain period of time or direct you to a plan that costs less without 37 channels that show 20-year-old movies.

Another good strategy in this situation is to research their competition. Tell them you’re switching to Competitor X who’s offering the same or better level of service for $50 cheaper. Play them against each other. Even if they just offer to match, this works to your advantage. You don’t have to take the equipment back.

2. Cut the Cord.

A lot of people are cutting the cord and canceling cable for good. A couple of technological developments happening right now make this very possible.

For starters, you can now get HDTV out of an antenna to watch your local programming. You can also subscribe to multiple services like Netflix, Hulu and even HBO online to get your television for less than you would pay on a monthly basis for a cable subscription.

However, you might run into a problem with sports. Many games are shown on cable, but all the major professional leagues have their own subscription services now. Just be aware you may have to pick and choose sports to make cutting the cord cost-effective.

3. Reacquaint Yourself with Your Local Library

Take some time to browse your local public library. While it is good to see they still have books at the library, they also have a large selection of CDs and DVDs.

You can also check out e-books! Seriously though, your library may have a lot more education and entertainment options than it used to. It may be worth checking out if you haven’t been there in a while.

4. Lunch at the Grocery Store.

Check out your grocery store’s sample selection – it’s worth your while. A motivated person has many choices, often including dessert, from various sample lines. Why do you think everyone is queued up when you go in there on a particularly busy Saturday? They’ve discovered a secret.

“Of course I’ll try the chicken cordon bleu…Why yes! I think I’ll have a butterscotch cookie.”

It’s important to note that the portions are small. You can definitely make this work for lunch, but not dinner.

5. Pay Attention to Those Receipts.

After you’ve done your shopping (and maybe gotten a midday meal in the bargain), it’s time to head to the cash register. However, it’s important to remember the savings doesn’t always stop when you check out.

Many stores add coupons to the backs of receipts now. It’s their way of keeping you coming back for more, but it also saves you money to use those coupons.

6. Get That Deposit Back.

Many states charge a small deposit on the purchase of all bottles and cans. You get that deposit back when you bring them back to the store and feed the machine.

You won’t be able to retire early on the amount you get back, but it will give you some spare change for the drive-through.

7. Save Those Ketchup Packets.

Save those extra ketchup packets from fast-food restaurants. If they give you four sauce packets and you only use two, stick the others in a drawer. They could come in handy when you run out. You’ll also be well-stocked when the zombie apocalypse causes a worldwide shortage of whatever that stuff is they use for onion ring sauce.

8. Rewards Programs.

Many businesses have rewards programs for their customers. You can shop around to see who gives you the best deal. There are programs for things like credit cards, airline miles and grocery stores. Although these are the more traditional ones, you can find rewards programs for all sorts of things like movie theaters, pharmacies, etc.

9. Attend Matinee Movies.

There’s not many things you want to roll out of bed before 9 a.m. on a Saturday for, but it might be worth it for a matinee movie. Different theaters will have different times, but if you go to one of the early showings, you can often get a ticket for $5 or $6.

It can be super cheap entertainment if you manage to run through without succumbing to the smell of the popcorn stand. But there is one trick that could save you a couple bucks: If you and your friend are going to drink the same beverage, don’t go with two smalls. It’s often cheaper to get a large drink and two straws. Just make sure you know whose is whose. Plus, the same matinee strategy will work if you go to the theater for a play as well.

10. Gift Card Sites.

There are sites online where you could sell such unwanted gift cards to someone else at a slight discount to benefit you both. Convert a gift card you’re not going to use into cash and get a great deal on something you would use!