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Money Saving Tip #1: Just say no to restaurant soft drinks!

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I was out to lunch with a friend at a local chain restaurant the other day and  I started discussing how much soft drinks cost these days.  I then picked up the menu to prove my point and the prices were not listed on the menu!  I was aghast.  When the waitress came to take our order, I asked how much soft drinks cost and she did not even know.  She later came back and said soft drinks cost $2.39.   If that isn’t bad enough, you can add in the 6 percent Michigan tax plus 20 percent tip, and that watered-down soft drink now costs you an even $3.00.  I can think of a lot of beverages I would enjoy more for that price.  Or, I could go to my local Kroger and buy a couple of 2 liter bottles for the same amount of money.  Of course, those would be hard to smuggle in my purse and discretely pour at a restaurant…

So next time you are out to eat, take a look at the menu before you order a beverage.  If the price isn’t there, you know it is an amount you won’t want to pay.  If the price IS there, you probably won’t want to pay that amount either.  (Unless the drink is offered in a decorative plastic cup with a twisty straw and you can convince the server you are 10 and under.)  Besides, what are you really gaining from that drink anyway besides a bunch of empty calories (or Nutrasweet) and a small dose of caffeine?

Have a great day!


Money Saving Tip #2: You MUST use coupons

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A few years ago, I really scrutinized my grocery bill and I was shocked with how much I was really paying for everyday items, without even thinking about it.  Part of it was I was working and I didn’t do any preparation for my shopping trips.   That day, I began my crusade to reduce my grocery bill.

Part of my mission included looking for deals and such on the internet.  That is when I stumbled across the Grocery Game (grocerygame.com).  The gist of the Grocery Game is to match your coupons with the weekly sales to really maximize savings.  It is unbelievable how much you can save if you truly discipline yourself to go through the circulars and match up the weekly coupons.  On weeks that there are a lot of coupons, I buy multiple papers so I can stock up on supplies.  Over time, you get an idea of how often certain items go on sale.  For instance, at my local Meijer, I know how much Salsa to buy each sale (usually buy one, get one free) to hold me over until the next sale.

So the whole process is this:

1.  Get coupons from as many people as you can

2.  Match your coupons with the sales each week.  (If you subscribe to grocerygame.com, their lists do this for you.)

3.  Stock up!  Buy as much of each product as you will use until the next sale.  Of course, this requires a lot of storage space.  Also, only do this if it is truly a great deal.

4.  Only buy products that you truly need.  However, if you can ever get something for free, grab it and donate it if it is not a product you will use.

Warning, this can be addicting, and can also totally alter the way you view grocery prices.  I absolutely cringe if I have to pay full price for something.  Coupons do not exist for many products, so you just have to take advantage of great deals on those.  Anymore, if I don’t save at least 40 percent on my grocery bill, I am disappointed and mad.

Give it a try and let me know how it goes!

Money Saving tip #2 – Part 2: How to use those coupons

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Good morning!

Yesterday I wrote about how you can save money by properly preparing yourself before you go shopping, and how to combine coupons with sales to maximize savings.  I wanted to provide an example of how to do this by using my most recent receipt from CVS.

Keep in mind, I love CVS.  You can save so much money there if you shop right.

So here are my purchases, and what I saved:

Tide:  Paid   5.97   Saved 3.02

Dawn:  Paid  .97   Saved  1.02

Colgate toothpaste (buy 1, get 1 free)  Got 2 for 2.89   Saved 2.89

Almay foundation (buy 1, get 1 free) Got 2 for 8.99   Saved 8.99

I then used my coupons, as follows:

Dawn – .20 coupon which brought price down to .77

Colgate – Had 2 coupons.  1 for .75 and 1 for 1.00.  Since I bought 2 tubes and 1 was free, I ended up getting 2 tubes for 1.14, or .57 each.

Almay – Had 2 coupons, each for a dollar.  Bought 2 products for 8.99 total.  Less the coupons, paid 6.99 for 2 Almay products, or 3.50 each.

Tide – Had 1 coupon for 1.00.  Paid 4.97 after discounts.

At this point, my overall spending for this trip was 12.87.  BUT, I also had 6.00 in CVS Extracare bucks from a previous shopping trip.  So after all discounts (27.87 in total savings) and including tax, my overall spending for that trip was a flat 8 dollars even.  That is a heck of a  lot of items for only 8 dollars.  In addition, I also got a dollar in Extracare bucks for the Tide I purchased, which I can use on my next shopping trip.

As a word of caution, always check the restrictions and fine print when shopping.  For instance, there was a limit on 1 bottle of tide for this offer.  So always make sure you don’t end up buying more than the discount is allowed for.

Happy Shopping!!

Money Saving Tip #3: Compare the per ounce cost of what you are buying. Bigger is not always better!

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For years when I was grocery shopping, I assumed that the bigger the box, the better the deal.

However, I was wrong, at least in some cases.

One of the great pieces of information provided at the grocery store is the ‘per ounce’ cost that is printed on the product tags attached to the shelves by each item.  I love it when they calculate and display it for sale items too.  The grocers must think we never look at these tags based on the pricing schemes I see at the store sometimes.

Just this past week I was at my local grocery store and I compared the per ounce price of the 64 and 96 ounce cartons of  Tropicana orange juice (neither size was on sale).  Surprisingly, the per ounce price was MORE on the 96 ounce orange juice, which is the opposite of what we have come to expect.  The same was also true on 2 types of cereals I looked at.  In the next aisle, I stopped to look at the giant box of Bisquick, which you would think would be a good deal compared to the smaller sizes.  I was shocked at how much more expensive the big box was on an ounce-for-ounce basis compared to the smaller box.  To take advantage of this, purchase that smaller item when it goes on sale and combine it with any coupons you have.   In that situation, you can buy that item for practically nothing.  If you have multiple coupons or it is a really good deal, buy several and stock up!

I do still think that in many cases, the larger version of the product is still the better deal.  However, take a look before you put that giant jar of spaghetti sauce or whatever in your cart.  Maybe that smaller version is actually cheaper, and it also takes up less space in your cabinet.

Money Saving Tips #4: Spend Now to Save Later

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I recognize the title to today’s post may seem a little contradictory.  Save money/spend money?  Well, I am a big believer in spending some money now to save money in the future.

Some of the areas I am willing to pay for now, to save financial pain later is the following:

  1. Stockpiling groceries: When we remodeled our kitchen, I made sure there was room for my stockpiling habit.  So, we have a pantry area with shelves that I can store all my extra groceries.  Keep in mind, I am obviously not stockpiling perishables.  However, if baked beans are on a great sale and I have coupons, I will buy as much as I can so I don’t have to pay full price in the future.  Ideally, I buy as many of an item as I will use until the next sale comes along.  This does not mean I buy items I don’t need!!  There are certain things I know I will go through a lot of, so I might as well buy it while its cheap.  Salsa is an example of this.  Every 6 weeks or so, Salsa is buy one, get one free at our local store.  We go through Salsa like water in our house, so it makes sense for me to buy 12 jars.  The only time I will get something I don’t normally use is if it is free, or close to free.  I then usually donate it.
  2. Services (for example, lawn fertilizing):  I pay for services up front in one lump sum if they offer a discount, which most of them do.   I do the same for the kid’s braces.  Always ask for a discount if there isn’t one already offered on a service, especially if you are going to pay in cash.  Doesn’t hurt to try.
  3. Gifts: I shop for Christmas all year long.  For instance, my daughter loves craft items.  I clip those Michael’s coupons in the paper and buy things throughout the year and hide them.  You can really save on gifts if you do not wait until just before the event.  Plus, you can usually put more thought into the gift when you have more time instead of just buying something because you have to.
  4. Dental work: Who doesn’t hate the dentist?  Well, I don’t mean ‘who doesn’t personally hate their dentist’, my dentist is actually a pretty nice guy.  However, my teeth apparently are covered in a sponge-like material instead of enamel as my teeth still get cavities at the drop of a hat (or the bite of a cracker).  Since my teeth are so soft, I actually have dental cleanings every 4 months (my idea, not my dentist’s) to try to catch problems before they get too far.  That means one of those cleanings each year are my financial responsibility.  However, it is worth it to me because I cannot stand the financial or physical pain for dental work.  Has this strategy prevented extra dental work?  I have no idea.  But, I feel better with this plan, so it is worth it to me.   So even if you hate going to the dentist, you really need to bite the bullet and go in for a checkup a couple times a year.
  5. Health Physicals: This one is a no-brainer.  Catch any physical issues that may be lurking as soon as possible to save years of pain and expense.  This includes eye exams too (which I  recognize I am late for, now that I think about it…)
  6. Auto Maintenance: Car getting up in miles?  If you have a trusted mechanic, get that car checked out.  Not only can auto repairs be expensive, but you do not want to be stuck in a broken-down vehicle on the side of the road.  However, do not go overboard with this.  Schedule maintenance based on the Manufacturer’s guidelines, not that of the dealer that is trying to make more money off of you.  (For further reading regarding car maintenance, check out this article at MSN Money Central titled ‘20 Ways You Waste Money On Your Car‘.)
  7. Healthy Food: I am not one of those people that requires everything be organic before I eat it (think Kate Gosselin…).  However, I am a proponent of eating healthy foods that require preparation, as opposed to cheaper, convenience foods.   For example, I know salmon is generally expensive.  However, I prepare it frequently because of the positive benefits it has for my body.  Over time, hopefully healthy eating will keep me out of the doctor’s office.
  8. Mortgages: When interest rates were dropping and we decided to refinance our mortgage, we evaluated the cost of a 30 year mortgage versus a 15 year mortgage for the same loan amount.  The difference was only a few hundred dollars a month, and we would be out of debt in half the time.   So, we went with the 15 year mortgage.   Plus, the interest rate was lower on a 15 year mortgage than a 30 year.  If you are thinking of buying a home or refinancing, consider a shorter mortgage term.  Try to consider only homes you can afford to buy on a 10 or 15 year mortgage.  You will be very happy you did when you make that final payment!
  9. Contribute to a Health Care Account: Do your best to estimate your outflow for medical/dental expenses for the year and sign up for the health care account if your employer offers one.  Where else can you guaranteed make 25-33 percent (whatever your tax bracket is) on your investment?  Obviously, you have to be conservative when you select the amount to withhold since you lose what you don’t use.  But going back to braces, using our health care account saved us over 1,000 dollars.

So overall, it may be good to have a little extra in your budget to be proactive about certain items in your life instead of having a bare-bones budget that only covers the bare minimum.  However, if you are living paycheck to paycheck and only buying necessities, I recognize that may not be possible.

What other areas are you willing to pay more for now in hopes of spending less later?

Money Saving Tip #1: Just Say No To Restaurant Soft Drinks!

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Well, I am home from vacation, but I am still not back in the swing of things.  Therefore, I am going to cheat and ‘rerun’ a post from way back in the beginning of my blog.  (OK, not that long ago, March.  However, I am sure this post will be new to most, if not all, of you.)

Original post date:  9 March 2010, 9:38 am

I was out to lunch with a friend at a local chain restaurant the other day and  I started discussing how much soft drinks cost these days.  I then picked up the menu to prove my point and the prices were not listed on the menu!  I was aghast.  When the waitress came to take our order, I asked how much soft drinks cost and she did not even know.  She later came back and said soft drinks cost $2.39.   If that isn’t bad enough, you can add in the 6 percent Michigan tax plus 20 percent tip, and that watered-down soft drink now costs you an even $3.00.  I can think of a lot of beverages I would enjoy more for that price.  Or, I could go to my local Kroger and buy a couple of 2 liter bottles for the same amount of money.  Of course, those would be hard to smuggle in my purse and discretely pour at a restaurant…

So next time you are out to eat, take a look at the menu before you order a beverage.  If the price isn’t there, you know it is an amount you won’t want to pay.  If the price IS there, you probably won’t want to pay that amount either.  (Unless the drink is offered in a decorative plastic cup with a twisty straw and you can convince the server you are 10 and under.)  Besides, what are you really gaining from that drink anyway besides a bunch of empty calories (or Nutrasweet), and a small dose of caffeine?

Have a great day!

Everyday Things I Do To Save Money

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I usually don’t spend a whole lot of money, and I try to stretch what we have as far as possible.  I thought I would just share some of the everyday things I do around the house to save money.

  1. When drying laundry, I rip my Bounce sheet in half.  I found that half a sheet works just as well as a whole sheet, so the box lasts twice as long.  As a side note, I did try eliminating laundry sheets altogether by using 3 tennis balls in the dryer.  That worked ok, but wasn’t worth the savings.  I know some people also use less laundry soap or dishwasher detergent, but I have not gotten that brave yet.
  2. I try not to water the lawn/plants if I can help it.  But, when we are in a dry spell, I do all watering late in the evening.  That way, more water gets to the plants and less dries up in the sun.
  3. This is more of an annual thing, but I try to plan a year in advance and take advantage of my husband’s corporate health-care account.  This especially is important when I know a major expense will be coming up, like braces.  So I always communicate with our family’s doctors and dentists to try and predict when expenses may come up.  Unfortunately, this year my son will need his wisdom teeth removed, which kind of hit me by surprise.  That is a thousand dollar expense that I do not have covered in our health care account for this year.
  4. I blabber on and on about this, but I always combine sales and coupons when grocery shopping.  I also will not go into Kohl’s or other stores that always issue discounts unless I have a coupon in-hand.
  5. Almost all my books are obtained at the library, or with a gift card.  If I buy a new book, I read it fast and then sell it used on Amazon.  (Unless it is a book that I decide to loan out to a friend/family.)  I also take advantage of ‘Friends of Library’ sales and buy books for 50 cents or a dollar.
  6. I adjust the house thermostat when I am leaving for longer than an hour.  I do have a programmable thermostat that is set for times I know I will be gone everyday.  But I also adjust it manually for times that are not programmed in.
  7. I covered this in a post yesterday, but I don’t buy soft drinks at sit-down restaurants, unless it is a special occasion.  I also never buy alcohol at a restaurant either.
  8. Almost all my bill paying is automatic, which eliminates the chance of getting hit with late fees.

What are some of the clever things you do to save some money around the house? Please share!

Get an extra $10.00 When Cashing in Change for a Gift Card At Any Coinstar. Offer Ends 12/31/2010!

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I mentioned in a previous post how I like to save up all my change throughout the year and cash it in at my local Coinstar machine  for gift cards in December.  Well, I found out today that Coinstar has a special promotion going on this month!

If you cash in $40.00 in change at a Coinstar machine, you can get a extra $10.00 in a gift card from the same merchant.  The promotion is valid until 12/31/2010, except for Amazon.  Participating merchants are:

Amazon (offer expires 12/22/2010)
ITunes
Lowe’s
Borders
Regal Cinemas
Rixty (online game card)

However, the bonus $10.00 is not available to you right away. You will be given a promo code at the bottom of your receipt when you turn in your change, and you enter that promo code at Coinstar.com.  The $10.00 gift card will then be mailed to you in a week or two.

What a great way to get a 25 percent return on your spare change!  Also, remember that when coins are redeemed for gift cards using a Coinstar machine, there is not a transaction fee.  If you turn in $15.99 in change, you get a gift card for $15.99.

Happy Shopping!  Also, keep this in mind for next year, in case this promotion rolls around again!


Avocados Or 5 Dollar Bill?

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I was cleaning up the kitchen the other day when I saw three avocados sitting on the counter, drying up before my very eyes.

As I glanced down, I didn’t think of them as avocados anymore.  Instead, I saw them as a five dollar bill that was going to be thrown out.

My dried-up, unused avocados

That image really frustrated me.  So many times I have cleaned out the fridge and thrown out old cucumbers and expired yogurt. However, I never really thought about the food in terms of an exact dollar amount.  In this case, I remembered that those avocados were purchased at the price of 3 for 5 dollars.  Therefore, it was easy to visualize  tossing money literally into the garbage when I saw the fruit was no longer usable.

Money Saving Tip:

Calculate the amount of money wasted next time you clean out the refrigerator.  I am not telling you to deduct a fraction of the price of leftover sour cream sitting at the bottom of the container.  However, if a bag of apples goes bad, don’t just toss it.  Visualize reaching into your wallet, taking out three dollars, and tossing that money right into the trash.  Perhaps if you truly associate money with what you are throwing out, it will teach you to go through the refrigerator every day or so and try using up what may soon spoil or expire.  This exercise may also make you think twice before you spend on an item in the first place.

What is the most expensive item you have had to throw out because it was no longer edible?  Do you end up throwing out much food each week?

 

 





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