Losing weight used to be the numero uno New Year's resolution, but the
ugly economy has shoved this lofty goal down to second place on
2012 lists. A survey commissioned by Fidelity Investments found
46 percent of respondents said their highest priority was to save more money.
Eating right and exercising are straightforward, however, in comparison
to paying off debts and socking away rainy-day cash. Of late,
it feels like slipping on a Walmart sidewalk is the only feasible
retirement plan; yet the top long-term goal cited in the survey was
to make retirement a financial reality.
If solvency and savings are at the top of your resolution list, you'll want to give a gander at these 15 tips for 2012.
1. Cook It!
It's the same thing every noon: The gang troops out to pick up lunch
from the nearest deli or eatery. Then they get home from work and
order out for dinner. What a senseless waste of money! With restaurant
prices on a
five-year increase
in excess of 26 percent, cooking at home is truly the way to go.
Spend a little time on Sunday (perhaps before and during the football
games) to cook for the rest of the week. It's fairly easy to
throw together a pot of spaghetti sauce that will translate into
multiple meals throughout the week. Besides, one can only eat so much
pizza.
2. Be Smart About Your Smartphone
Data and text-message plans eat up budgets faster than 4G connects you
to Facebook. If you've already teamed up with relatives, call a
family meeting and decide what you can live without, then cut back your
plan when it's time to sign another contract. You might even
try creating a family plan with friends and neighbors, if the provider
will allow you to do so.
3. Cut the Cable
Every year it's another rate-hike email notification: "Due to increased
overhead, we're jacking up your cable/satellite bill another
15 percent." Cut these money-hungry mongrels out of your life by
switching over to free, streaming videos, sports, movies and
television shows.
4. Coupon It Up
Thanks to TLC's "Extreme Couponing," all of America knows you can cut
your bill with coupons at the grocery store. What you many not
realize is these money savers can be used for nearly everything from
hotel accommodations to office supplies.
Mobile coupons make the process even easier. Coupon Sherpa,
for example,
has an app that allows you to access coupons from your smartphone for
use right there in the store. When grocery shopping, this same
app lets you search for a preferred supermarket by ZIP code, then
download coupons directly to your loyalty card. The savings are then
deducted at checkout.
5. Use the Public Library
Modern libraries now have DVDs, CDs, video games, e-books and Internet
access -- all provided for free. Many allow you to place an
online hold for an item you want and receive it within days. Naturally,
you can also peruse the stacks, but that's so 10 minutes ago.
Check with your library, as well, for discounts on passes to museum,
zoos, and other attractions.
6. Go Guttenberg
We're not talking about the actor Steve Guttenberg here: This is a plug for Project Gutenberg,
where you can download thousands of
free e-books from a single website. You won't find recent titles here as
only copyright-expired books are posted, but surely you can
find something in their 36,000 book selection to catch your interest.
Books are downloadable to your PC, Kindle, Android, iOS or other
portable devices.
7. Discounts through Gift Cards
There are a couple ways to save here. First, you can go to sites like GiftCardGranny.com
and buy discount gift cards, sometimes saving as much as 50 percent off the face value. Secondly, you can
exchange gift cards you don't
want for cash at the same site. That way, those cards don't sit amoldering at the back of your dresser drawer.
8. Gift With Daily Deals
Daily deals are everywhere, from Living Social to your local paper, and
they're a great way to save on gifts, if you use your smarts.
There are a lot of deals for spas, teeth whitening, restaurant meals,
etc. that are so cheap it must pain the provider to provide these
offers. Make sure you read the small print, however. You'll want to
consider expiration dates and whether add-ons are included, like
restaurant tips and desirable services that aren't included in the
package.
9. Swap Stuff
There are tons (well, pounds) of websites where you can swap everything from books to children's clothing.
Swap.com is the mother of them all, but check here
for a comprehensive list.
10. Sell Your Stuff
Consignment shops are ready to start laying in stock for spring and
summer, so now's a good time to get your gently used clothes, shoes
and accessories ready for resale. You can sell other items on Craigslist
or, for higher-end items, auction them on eBay. Make sure you
read the selling tips for both websites so you can unload your
belongings with the least amount of muss and fuss.
11. Host a Garage Sale
Garage sales aren't just a form of entertainment for the shoppers --
They're a good way to clear out household clutter and make a few
bucks. Since larger sales draw bigger crowds, begin organizing your
neighborhood now to team up for a Godzilla-size event. Advertising
is the most important aspect of a successful sale, so don't forget to
figure in the cost of a newspaper ad. Also check into promoting
your sale at websites like YardSaleSearch.com and
GarageSalesTracker.com.
12. Get With the Program
Heating and cooling accounts for 42 percent of home energy costs, some
of which is pumped into empty spaces and empty houses. Installing a
programmable thermostat helps control
the temperature and your bill, with savings from 10 to 30 percent. Try
turning down the thermostat by just 1 degree during the winter or up 1
degree during warmer weather months
to cut an additional 5 percent. Space heaters can also help reduce the
amount of heat used in empty spaces.
13. Transfer Your Money Out of Sight
A great way to avoid spending your entire paycheck is to have funds
automatically transferred into some sort of savings account. Out of
sight is out of mind, right? If you never see the cash, you're less
likely to spend it.
14. Spend Cash Only
It's so easy to swipe your way to the poor house. Instead, hide those
debit and credit cards and give yourself a weekly allowance.
It's human nature to part less easily with cash, so you're less likely
to splurge on little (or big) extras.
Of course, this means you'll have to make regular trips to the bank, so
make sure your account is housed at an institution that doesn't
charge extra for personal services.
15. Ask and You Shall Receive
If you have a credit card, ask for a rate reduction to trim those
painful monthly interest fees. Simply call the customer service hotline
and tell them that you want an interest
rate reduction, or you'll take your business elsewhere. If the customer
service rep is unhelpful, ask to speak to a supervisor who has more
authority over such
requests. With a $5,000 balance, even a 3 percent rate reduction saves
you $150 a year. Do the math to realize the savings potential of a quick
call.
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Andrea Woroch is a consumer and money-saving expert for Kinoli Inc., and has been featured among such top news outlets as Good Morning America, NBC's Today, MSNBC, New York Times, Kiplinger Personal Finance, CNNMoney and many more.
She is available for in-studio, satellite or skype interviews and to write guest posts or articles.
For all media inquiries, please contact Andrea Woroch at 970-672-6085 or email andrea@kinoliinc.com.
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