Shopping at wholesale clubs offers many benefits and can be excellent for bulk purchases, however it is very easy to overspend at these outlets such as BJ’s, Costco’s and Sam’s Club. Many of their bulk items contain a large supply of items that you may not truly need and you may find them collecting dust later on down the road. Just ten items priced at $10.00 a piece can easily skyrocket your bill into the hundred dollar range. When shopping at these major outlet stores, be sure to plan ahead with a dedicated shopping list of items you definitely need. Try to limit bulk purchases to necessities such as paper towels, toilet paper and drinking water. Stay away from purchasing perishable foods in bulk that may end up going to waste if not consumed in time.

When purchasing a car, you may feel as though you are getting the best deal by purchasing a nice used car in good condition. We are often told that used cars are a better deal than brand new vehicles which depreciate in value immediately after being purchased. However a lesser known fact is that there is a way to save on newer model used cars. Ask your dealer how long the used car has been on the lot. If the car has been there less than thirty days, then you will definitely want to hold off on making a purchase. According to a study by CarGurus.com, the bulk of used cars listed over a thirty day time period have had at least one drop in price. When shopping for a used car, be sure to find one that has been marked down a few times by waiting a bit past the thirty day mark.

Another way to cut down on money leaks includes reviewing monthly bills and noting any increases in fees. Often companies will offer a low introductory rate and then add in additional fees at a later time. You may be wondering why your bill has gone up but don’t take the time to call and ask about the increase in charges. Taking the time to review the itemized charges on your account can assist you in uncovering hidden money leaks.

 You can also reduce spending by avoiding last minute purchases at the cash register. Although they are tempting, it helps to realize that if you needed it, most likely it would have been on your initial shopping list. Last minute impulse buys can result in major unnecessary money leaks.

 Following these tips and guidelines can help you to retain some extra funds that you can put to constructive use. Simply making minor changes in your spending habits and financial practices, although seemingly miniscule, can help you add to your bottom line and assist in saving money for other much needed expenses,

Related posts:

1. How to save money on your auto loan purchase
2. How to find extra money in your budget to repay debt
3. Frugal living and how to save money

If you are starting out in your twenties and thirties, now is an optimal time to enroll in your company’s 401K plan. Make sure that you are contributing the minimum amount needed for your company to match your deposits. Your ultimate goal is to deposit 15% of your income into your 401K. This is also an excellent time to pile up on stocks that are at a low cost. If you are single and earning less than $27,500 you may be eligible for the retirement’s savings tax credit which has a value up to one thousand dollars. If you are married and with a combined income of $55,500 or less, both you and your spouse can claim the credit. With so much time ahead, you can also add certain risky stocks to your portfolio with your financial advisor’s guidance. Your twenties and thirties are the best time to plan ahead for your retirement.

Once you reach your forties, you will want to max out on your employee contribution to your company’s 401K or any similar compensation plan. Now is also the time to cap off any deposits into your Roth IRA plan. If you have a stay at home spouse, you can contribute to a joint IRA account. Consult with your financial advisor to make sure you are on the right track towards meeting your retirement goals. According to your financial profile, your advisor may make specific recommendations that can help you reach your retirement goals on time. You can also utilize online financial planning tools such as Fidelity’s My Plan or TD’s Ameritrade online tool.

In your fifties and sixties, try to pay off your mortgage loan. Eliminating this large payment will make retirement easier and much more of a realistic undertaking. If possible, borrow money from a life insurance policy to pay off the balance on your mortgage. If you are still working, you will want to make the maximum contributions possible to your company’s 401K plan. There are catch up contribution options which will allow workers age fifty and older to contribute up to $22,000 to their 401K plans and up to $6,000 into their Roth IRA plan, as of 2009. During your last year working, front load your 401K plan and contribute as much as possible. Towards the end ask about transferring the balance of your 401K to your Roth IRA account which allows for greater control over your finances.

The earlier you start planning for retirement the better. Beginning in your youth gives you time to establish a sound financial plan for your future. It is easier to diversify your accounts and take greater risks with your investments which may offer a higher yield. If you have begun planning your retirement later in life, consult with your financial advisor for the best strategy possible to assist you in your retirement goals.

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice

Related posts:

1. Ways to generate income for retirement
2. Should you borrow from your 401K to pay off debt?
3. Frugal living and how to save money

By far the best way to save money on your auto loan is by having a high credit score. A score of 700 and hope is likely to garner you favorable interest rate terms. Plan ahead before shopping for your car. Request a free copy of your credit report and look over it carefully to make sure all the items listed are accurate. There may be minor accounts that you can pay off easily which will boost your score. If you see any erroneous items, don’t be afraid to dispute them. Disputing items on your credit report is often a fairly hassle free process. Equifax offers a simple dispute button on their website with a section to list your reason for disputing the item. You can receive the results of the dispute in a short amount of time, usually between three to four days. Begin cleaning up your credit report a few months before you will be buying your car. This will ensure that you receive optimal interest rates at the time of purchase.

Another way to save money on your auto loan is to consider taking out a home equity loan to finance your purchase. In many instances, you can receive a much more favorable interest rate on a home equity loan than you can from a car dealership. There are usually two ways to do this. You can use a home equity loan or what is called an HELOC or home equity line of credit. The HELOC offers an initial low interest rate for the first 36months and then after that time the rate becomes variable and can go up. This is a good option to use if you will be paying off your car in three years or less. A home equity loan offers a more stable fixed rate that won’t fluctuate over time. Before making the decision to take out a home equity loan or line of credit, be aware that you are essentially using your home as collateral, For this reason it is imperative that you make all your monthly payments on time.

Another option for saving money on your car loan involves securing independent financing before visiting your dealership. Oftentimes dealers can make more money from the interest on your loan that from the sale of the car itself. The dealer may ask you how much you can afford to pay each month. They will then take this figure and scale the interest up to match this payment. If you qualified for a 6% interest rate, you may end up paying up to 9% and more from this tactic. The dealer then receives a commission from the difference of what you are paying and what quote they received from their lender. Check with your bank or another financial institution to obtain an offer of financing before visiting your dealership.

Securing a low rate on your auto loan can put more funds in your pocket at the end of each month as well as save you money throughout the life of your loan. Shop around before agreeing to any finance terms and use the tips outlined above to save money on your auto loan purchase.

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice

Related posts:

1. Thrifty Ways to Save Extra Money
2. Frugal living and how to save money
3. Refinancing a car loan

Here are some simple tips that can help you save money:

Coupons and Discounts

Before you go shopping, look for a coupons, special offers or discounts. However, you do need to compare prices because sometimes a discounted item can still be bought for cheaper elsewhere.

A lot of people think that always looking for a good bargain is cheapskate behavior so don’t take it to extremes. You should definitely not take out a coupon when you are eating at a restaurant with your boss, for example. On the other hand, if you are buying some new furniture, there’s nothing wrong with getting a great price on these items.

Reduce Debts

One big reason to adopt a more frugal lifestyle is to reduce debts. You will realize that you have been living beyond your means once you have difficulty paying off their credit cards and bills.

If you can’t afford to buy something outright, don’t use your credit card or borrow money just to buy that item if it is not absolutely essential. If it’s something that you really want then all you have to do is to save money and buy it when you can.

Do It Yourself

DIY is the way to go if you want to save money. There are tons of DIY shops around and it’s not too hard to do simple home repairs or improvements yourself instead of hiring contractors. You can save up to thousands of dollars in labor costs if you DIY the more labor intensive but les difficult projects like painting the walls or hanging new wallpaper.

Plan Your Trips

Save on gasoline costs every month by planning your week in such a way that you can reduce the number of times you have to drive somewhere to run errands. Switch to stores that are nearer your house if you have to. You can also try shopping online to save on gas money.

Smart Shopping

When it comes to your personal needs, shop for the best value for money. This does not mean always buying the cheapest items. What you should do is consider both the cost of the item and its usefulness.

To illustrate, when choosing between cheap shoes and expensive shoes, it might actually be better to buy the costlier ones if they are of good quality. People do notice cheap footwear and cheap shoes do not last as long as quality shoes. If the good quality shoes cost twice as much as the cheap shoes but last thrice as long then it is still the better bargain.

Saving Money through Frugal Living

Remember, frugal is not the same as cheap. A cheapskate always goes for whatever costs less but a frugal person knows how to spend money wisely and always gets the best value for his money. Frugal living helps you save money for your future in an intelligent way.

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice

Related posts:

1. Frugal living and how to save money
2. The art of frugal living doesn’t have to be so tough
3. Frugal Living

5. Reduce Your Cost Of Living

Reducing your cost of living applies to a lot of things, not just the basics like food, utilities and clothes.

If you’re planning a vacation, cancel it.  Take your vacation as a reward for getting out of debt.  Don’t take one when you can’t afford it.

If you plan on replacing your old TV or getting a new pair of jeans, postpone it until you have more financial freedom.  

4. Get A Second Job… Or Even A Third

It’s not fun to get an extra job or even an extra job on top of your extra job but the prospect of becoming bankrupt or broke is by no means fun either.

Getting an extra job isn’t for everyone, but it will reduce your debt much quicker than having just one job.  It’s a new experience that you might enjoy and stick with after you’re out of debt.

3. Cut Up Your Credit Cards

If you’re in debt, there’s a big chance that credit cards have had something to do with it.  If you want to get out of debt and stay out of it, you need to get rid of your credit cards.  Stick to cash or debit cards.

Never spend money you don’t have, it’s a slippery slope and normally only leads to one sure thing; debt and lots of it.

2. Use Cheaper Stuff

It sounds too simple and too easy but the amount of people who spend more than they need to on the bare necessities is incredible.

By changing to less expensive brands when you’re out shopping for food, clothing, Etc, you’ll save a lot of money.

Saving money this way will not only help you out of debt, but it will also set you up with a life style that will allow you to get the most out of your money after you become debt free.

1. Sell, Sell, Sell

Sites like eBay and CraigsList are great ways to quickly generate money from things you don’t want, or don’t use anymore. Things can be replaced. Sell Sell Sell!

The money you make will help you to get out of debt or at least help reduce it! Clear your clutter for clarity!

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice.

Related posts:

1. Top 7 Simple Ways to Start Frugal Living

Facing Our Financial Problems
The Dollar Stretcher Blog
by Gary Foreman

Most of our ‘problems’ are really nothing more than undealt with discomforts. The moment we get up the resolve to look them in the face and do something about them, they vanish. Our real problems are the ones we are afraid to look in the face.
- Rabbi Shraga Silverstein

Everyone has problems. It seems to be part of the human experience. But, if you’ll look around you it’ll become obvious that not everyone handles their problems the same way. Some are crushed by troubles. Others are relatively unaffected.

Knowing what separates the two groups could make life much easier. So with that in mind, let’s examine Rabbi Silverstein’s comments.

The natural question is why are we so reluctant to face our problems? What is it about us or the problem that causes us to avoid any confrontation? Are there any clues on how to change our behavior?

What is it about certain problems that make us afraid to look at them? Based on my own experience I’d have to say that there are some problems that seem too big to solve. For instance, owning a home that’s worth tens of thousands of dollars less than the mortgage. A big, immovable mountain of a problem.

Then there are the problems that we know how to solve but don’t want to make the necessary changes in our life. I know of families that rarely cook at home because no one who lives there has learned to cook. Facing the problem means that someone is going to become responsible for learning how to cook and then providing a homecooked meal. If you just ignore the problem you don’t have to face making a decision about cooking.

There are other problems that truly scare us. Some baby boomers are afraid to face their retirement. They’ve neglected retirement savings and now they’re afraid that it’s too late to do anything about it.

College students have a similar problem. Many of them know that they shouldn’t be using student loans and credit cards for charging pizza. But, they tell themselves that since they’re still in school that they’re not required to be responsible yet. So they don’t face up to the problem that they’re creating.

Is there an answer? Well, we can take Rabbi Silverstein’s advice and force ourselves to confront our problems head on. One way to make that easier is to not try to solve the whole problem in one day. Take the ‘too big mortgage’ as an example. You don’t need to pay all of it off now. What’s needed is the money to make the next monthly payment. Breaking the problem into small tasks makes it much easier to face. You’re not facing the whole problem. Just the little piece that you need to handle today.

Or the family cook. They don’t need to commit to preparing every meal for the rest of their life. Maybe just prepare a home cooked meal two days a week. It’s not a complete answer, but it’s better than turning away from the problem and eating out every day.

I’m no psychologist, but it’s probably true that success breeds success. So for each day that you face a problem you make it easier to face it again tomorrow. After a few days the problem is vanquished (even if you might need to keep after it for years – as in paying off your mortgage).

What do you think of being afraid to face our financial problems? Do you have a story that would be instructive or inspiring? If so, please share it with us via email .

Keep on Stretching those Dollars!
Gary

______________

Gary Foreman is the editor of The Dollar Stretcher.com website and enewsletters including Financial Independence. Financial Independence is designed to walk step-by-step with you as you take control of your finances and achieve financial freedom!

Articles on this site have been acquired from a variety of sources. No content on this site should be considered financial or legal advice.

Related posts:

1. Winning Financial Info

The condition of New Yorkers is worse as they hit pretty hard by the current economic climate as a result unemployment levels had raised. For this reason the New York state has been chosen under the 2009 stimulus package.

To help the unemployed New Yorkers, federal government came up with unemployment benefits as mentioned bellow:

First, there is regular unemployment benefits available which are available regardless of the economy for 26 weeks.

Second, 33 week unemployment benefits called Emergency Unemployment Compensation that is formatted for 20 weeks and then followed by 13 weeks segment. These benefits are also paid similar to regular unemployment benefits in the form of direct deposit or check.

In order to receive such unemployment benefits, workers must qualify for it and those are any worker must have worked at least for one year period and earned wages for that time and determined to be unemployed with no fault of your own. You may disqualify from the benefits if any one is the reason for you to become unemployed.

Fired for misconduct

• Involved in labour dispute
• Left to get married
• Resigned due to illness

If you do not meet any of the above mentioned then you can apply for the unemployment benefits if you are fired. The unemployment benefits are like:

One will receive regular benefits of unemployment for a maximum of 26 months in most of the states of US but in case if the nation is suffering from high unemployment levels then they may extend for few weeks. In any state the compensation may be half of your states average weekly earnings. One must remember that these benefits are subject to federal income tax. So, one must make sure to report these benefits in your federal income tax return.

But recent reports shows that, nearly 575,000 New Yorkers who have been out of work are about to run out of there 26 unemployment benefits. For this reason New York state department of labour appealing the U.S. congress to extend the benefit for workers.

They also said that, if they did not extend, nearly 5 million people across America will become lose their unemployment benefits. This will become worse when the job hole is still deep with unemployment rate is at 9 percent and without this extension more than 85,000 New Yorkers could lose their unemployment benefits by the end of March and 356,000 becoming ineligible by the end of June.

For this reason, the department of labour encourages workers who are about to lose their unemployment benefits keep checking at one stop centres, that help you in finding jobs. To check if you qualify for the unemployment benefits visit www.gouveneurtimes.com and apply for aid if you are unemployed.

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice

Related posts:

1. Unemployment ‘Benefits’: Surviving Unemployment With Attitude
2. Claiming Unemployment? Read The Unemployment Survival Guide!
3. Unemployment rate improves slightly in Utah

How many of us suffer the same thing in our financial affairs? We know we should budget or begin saving for retirement. But we can’t seem to do it. Intellectually we know what we should be doing. But we just can’t get going on it. Our heart isn’t in the program.

One way to identify when our minds and hearts aren’t in sync is to notice what financial decisions make us uncomfortable. What financial activities make our palms sweat? Our hearts beat faster? Make our stomach quesy? When we feel uneasy about a financial event that’s a clue that it’s an area that we need to examine.

So I invite you to keep a brief log. Notice those financial events that cause discomfort. Include the date, time and any circumstances that seem like they could be relevant. Don’t try to analyze it now. All we want to do now is capture the moment and make note of it and how we feel at the time.

Once you’ve assembled your journal (after a few days to a week) it’s time to study the entries.

First, were you able to recongize what tape was playing in your mind during the event that made you uneasy? For instance, I’ve often heard “You shouldn’t be spending this money. Not on some luxury.” Or “Go ahead and buy it. You’ll never find it again this cheap.” There are many messages that our minds play when we’re considering making a financial decision. Each of us has our own set of tapes. Almost like an Ipod full of messages that you frequently listen to.

Some of the messages are good. It’s true that I shouldn’t be spending money on unneeded luxuries. And I should look for bargains.

But we need to be careful about the application. For instance, if the ‘luxury’ is buying a steak to cook at home and I do it once a month is that a luxury? Sure, it’s more expensive than cooking a chicken. But, a steak with baked potato and veggie eaten at home isn’t an outrageous expense. And, perhaps that little luxury is enough to keep me from being tempted to eat at a restraurant that evening. So maybe the money tape shouldn’t apply to this situtation.

Or the bargain purchase. If the item I may buy is used and well worn, perhaps it’s not such a good purchase. Especially if it’s something that I’ll use often. Maybe it’s worn so that it is likely to break when I need it. Perhaps spending a few more dollars could buy something that’s dependable and will last much longer. In that case being the cheapest isn’t necessarily a good thing. Again, finding a bargain is good. But it isn’t always the only thing to consider.

So what does your money journal tell you? What tapes were playing when you were uncomfortable about a financial decision? Take a look at them in light of the choices you were facing. Was the tape appropriate to the situation? Or were you hearing something that could lead you to the wrong financial outcome?

Remember that these money tapes almost always have some truth in them.
But, it’s important for us to know whether the tape is true in this specific situation.

One final thought. Since these money messages have been in our heads for years and feel true to us we often accept them without any questions. We jump right to making a decision based on them. If we’re applying them to the wrong situation that can be bad. And, if we don’t stop to think before making the decision we won’t even recongize that we could be making a mistake. In fact, we’ll congratulate ourselves for making the ‘rational’ choice.

So the next time that a financial decision makes you queasy, stop for a moment. Listen to the tape in your head. Ask yourself if the message is true in this particular situation. And, only after you’ve completed these steps, then make a decision.

By doing so, you’ll move your head and your heart closer together. Close enough so that your heart will feel good about the logical decisions your head is making!
Keep on Stretchin’ those Dollars!

Gary

______________

Gary Foreman is the editor of The Dollar Stretcher.com website <www.TheDollarStretcher.com> and various enewsletters including Financial Independence <http://www.stretcher.com/subscribe/subscribeFI.cfm> Financial Independence is designed to walk step-by-step with you as you take control of your finances and achieve financial freedom!

Related posts:

1. Saving Money through Frugal Living
2. Frugal living and how to save money

Recently I was approached by a reporter. They were doing a story on people who were tired of the effort it takes to control their spending. What suggestions, she asked, did I have for people who were struggling and thinking of just giving up?

A little time brought to mind some of the things that I’ve seen people do who continue when the easiest course was to quit.

The first is to make a decision. Once you’ve decided to pursue a goal, do not question it. Unless you have significant new information, you have no reason to doubt your original decision. So don’t trouble yourself with questions. Just continue along the path you chose to follow.

The second involves breaking big goals into smaller pieces. They say that success breeds success. I believe that’s true. Dividing a big goal into smaller goals allows you to have some smaller successes along the way. Each one helps to motivate you to strive for the next small goal. Pretty soon you’ve accomplished the big goal.

Rewards are the third tool to accomplish financial goals. Most of us want to know “what’s in it for me?” That’s only natural. So put something in it for yourself. If you’re paying off a credit card, treat yourself to a small reward at predetermined points along the way (i.e. after $2,500 has been paid down or when the balance is reduced by 25%). Looking forward to the reward takes your mind off of the struggle.

Reminders can also be helpful. If you’re saving for a vacation, you’ll find that a picture of the campgrounds on the refrigerator can be a great motivation. Some people put a card in their wallet to remind them of their commitment to reduce debt. They see it every time they reach for cash or a credit card. It can help you resist needless purchases.

Finally, it’s helpful to have friends to encourage you and share experiences. Most long journeys are much easier if we have one or more people to walk with us. So find a frugal living partner at work or in your neighborhood. Or join an online discussion group. Not only will you find help, but you’ll become stronger when you encourage others. In fact, we have one specifically on Frugal Fatigue.

So don’t let the length of the journey discourage you. The total distance is not that important. All you have to do is to stay on track for today. And, that’s something that all of us can do.

Keep on Stretchin’ those Dollars!

Gary

______________

Gary Foreman is the editor of The Dollar Stretcher.com website <www.TheDollarStretcher.com> and various enewsletters including Financial Independence <mailto:subscribe-fi@hub.thedollarstretcher.com>
To check out The Dollar Stretcher Forums, click here <http://community.stretcher.com/forums/> To join the discussion on Frugal Fatigue click here <http://community.stretcher.com/forums/t/15819.aspx>

Related posts:

1. Frugal Living
2. Frugal living and how to save money
3. The art of frugal living doesn’t have to be so tough

       First, frugal living is not about going without.  It is simply being conscious of how you spend your money.  If you are going to spend it, spend it wisely.  Think of frugal living as stretching your money’s worth.

       Second, frugal living is not giving up all your extras.  It is chooses those extras that matter the most. If you are an avid movie lover, you still can enjoy your Friday night flick.  Just from  your living room instead of the theater.

       Let’s consider some very basic ways to start living more frugally:

       Food. This is probably the easiest way to stretch your dollar. Clip coupons and make a list when grocery shopping.  Pay attention to prices, you might even choose to shop at a cheaper store.  If you have the time, shop around for the best prices on your regular products. Cook your lunch at home and brown bag it to work.  Make a large meal and eat it throughout the week.  If you have a large family, plan out your meals a week in advance based on the deals at your local supermarket.

       Entertainment. Rent instead of going to the movies, use services like Netflix if you rent. As long as you actively use a service like Netflix, it is an amazing price saver. Other ideas for entertainment include having a couples night in.  Make a regular date night for couples you know.  Play fun games instead of hitting the town.  You will help your relationships while keeping your pocketbook full.

       Gas. Carpool, ride a bike, make a strategy about your errands.  Whatever keeps you in the car and spending gas the least is best.  If you need to go somewhere within walking distance, take a brisk walk instead of the car.  Your lungs, and the environment will thank you for it.

       Plan Ahead. Your car, your pets, your house all need yearly maintenance type items.  Plan ahead for things like flea control, a new car battery and the like.  You are going to buy them anyway, why not consider them early on and look for ways to save.  Research the best time of year to buy appliances, electronics or a new car.  Frugal living has been around for ages and there is plenty of information available for you.  Take advantage.

       Make it Yourself. The recipes and instructions are endless. Research online or at your local library how to make everything from your own cleaning products to furniture.

       The key to frugal living is to gain the support of those around you.  If you are a single person, find people in your neighborhood that are like minded.  If you are apart of a large family, grow a garden in the backyard.  Do whatever you can to incorporate frugal living into your everyday.  As you learn more and more about it, you will find the easier it becomes.  And remember, frugal living is not about going without.  It is about making the most of your money!

Articles on this site have been acquired from a variety of sources.  No content on this site should be considered financial or legal advice.

Related posts:

1. The art of frugal living doesn’t have to be so tough
2. Saving Money through Frugal Living
3. Top 7 Simple Ways to Start Frugal Living