5 Ways to Save Money Today

Five Ways to Save Money Today 

After several conversations lately with friends and family, I am inspired to write a series of posts on tips to save money.

I am watching a show on television where a lady comes to a couple's home and helps them to see where their money is going and how to make a few changes to dramatically change their financial future for the better. There are always very good tips that can make big improvements. It is on CNBC on Sunday evenings.

1. Check out your home owners insurance, property taxes and internet/cable/telephone costs. You may be paying more than you need to on these. You may be able to raise the deductible on your insurance. You may qualify by your age to have your property taxes lowered. And you may be able to bundle your internet/telephone/cable into one lower monthly payment.

2. Clipping grocery coupons and exchanging them with your friends can save a lot of money. Some stores allow you to purchase a buy one/get one free and use two coupons. My daughter saved $46 last week on one trip to the store. She was inspired by watching the Extreme Couponing Show on TV. She re joined a coupon train group too. You can search coupon trains on line. Members send a batch of coupons to another member in the mail, etc.

3. Use consignment shops for selling and buying children's clothing.  You make credits on your account when the clothing you brought in sells to be able to use to purchase clothing. Books, games and toys are available in these shops as well.

4. When cooking meals, cook at least two nights at a time. Serve one that night and freeze the other for another night. Watch cooking shows on TV. There are several that promote affordable meals such as Rachel Ray, Sandra Lee and I believe the other one is by Melissa D'Arabian with Ten Dollar Meals.

5. Check out the possibility of refinancing your home with a lower rate and payment. Many people qualify for the new HARP II program where if their current home loan is owned by Fannie Mae or Freddie Mac, they can refinance with a lower rate and payment even if they owe more than their home is valued. Also, Veterans can refinance up to 100% of the value of their home to pay off current liens on their homes. And they can go up to 95% of the value when taking cash out.  FHA Streamlines are available for people with FHA loans. And, USDA allows refinances of their loans. It doesn't cost anything to check this out.

I hope a couple of these tips help you and yours. I'll be writing some more tips soon.