SAVING NEEDED DOLLARS

How to save $8,919.45 a year

CNN Money 10-22-2008

Good morning.

Given the state of our economy, the shrinking buying power of our fixed incomes, the dramatic losses in our 401K's, IRA's and investments, it seems that every bit of information we can garner and use to save a buck here and there will be helpful.

There are a lot more ways to save money than these six suggestions, but this is a start. One way my husband and I save money is by having joined our grocery store "club". In this way many of the items we buy are automatically less.

For instance, take pineapple (which I love). A container of pineapple spears was recently around $9.50. Because I belong to the "club", we got a $4.75 store discount on them. Another way to save is to buy big on sales on household goods such as toilet paper, paper towels, and home cleaning products whenever they're on sale.

If you smoke, consider quitting. For those who smoke about 1 pack a day, at an average of $4.75 a pack (X 7 packs a week X 52 weeks) you can save $1,729 a year and improve your health, to boot. Wouldn't you love to see your doctor smile?

So, although we can no longer shop mindlessly, putting into our baskets what we want without looking at the price, it's amazing what you can save with a bit of comparison shopping at the market and drugstore.

Have a great day!
Gloria


In tough times, consumers are looking to stretch their dollars further. Here are six simple ways to save thousands.


Strategic shopping

Potential annual savings: $5,200

Stephanie Nelson, founder of couponmom.com, a site that tracks deals at your local grocery store, says that shoppers can save an average of $50 to $100 a week on their groceries if they spend about 30 minutes once a week planning out their supermarket trip.

Not only are there plenty of savings to be found in newspaper circulars and on online coupon sharing sites like coupons.com, but grocery stores like Safeway and Pathmark often have coupons on their sites. There are also coupons available direct from manufacturers. For example, SC Johnson offers printable coupons on its Web site for $2 off Windex and other popular household products. "People can save 50% on their grocery bill by using the store's sales, putting coupons on top of that and going to the Web for additional online coupons," Nelson said.

Skip Starbucks (and other high-priced coffee and donut shops)

Potential annual savings: $2,425

David Bach, the author of Go Green, Live Rich, contends that it is easy to save a few thousand dollars a year and cut down on waste simply by eliminating that morning coffee and a muffin. That's what he calls the "latte factor," and you'd be surprised how quickly that $5 breakfast-on-the-go every morning adds up.

The same goes for lunch. The average American worker who buys lunch during the workweek spends $6.60 a day, according to a recent "Brown Bag" survey by ConAgra. And they are eating up a substantial savings opportunity. Buying enough ingredients to pack a lunch from home just three days a week can save about $600 a year.

Upgrade your appliances

Potential annual savings: $150

While we're on the eco-friendly bandwagon, using compact fluorescent light bulbs saves about $30 in electricity costs over each bulb's lifetime. But to really impact your bottom line, consider upgrading an old appliance like a refrigerator or dishwasher. Newer energy efficient appliances can save $50 to $150 a year in energy costs, according to Energy Star.

Go generic

Potential annual savings: $161.20

Generic brands of food and drugs can cost 20% to 50% less than the name brand and you're not likely to tell the difference. "Don't be afraid to try a cheaper brand," advises ShopSmart deputy editor Sue Perry.

For example, just buying the store's own brand of butter instead of Land O'Lakes can save about 25%. If you switch to your supermarket's generic brand of milk as well, that will translate into about $3 a week in savings, and that does a wallet good.

Pay an extra $1 (or more) on your credit cards

Potential annual savings: $203.25

Everyone knows that carrying a credit card balance can be costly. But if paying off that balance isn't in the cards, even the smallest change can pay huge dividends. Instead of buying a soda from the vending machine, Bill Hardekopf, CEO of LowCards.com, recommends putting that dollar toward your credit card balance.

For example, if you typically pay $100 a month on a $5,000 balance with a 14% APR, try upping that payment by just a dollar a day. By paying an extra $30 a month, you'll pay off your balance in 52 months rather than 76 months, or cut your payments by two years. And you'll save $874 in interest payments over that time.

Share Baby Sitters and Home Care Personnel

Potential annual savings: $780Sheila Lirio Marcelo, CEO of Care.com, which helps families find local caregivers, suggests teaming up with neighboring parents to share one babysitter. Although most providers pro-rate their fees according to the number of children they are watching, families that pool together can still save between 20% to 50% off the cost of childcare while they enjoy their weekly date night.

RELATED SITES:

Mommysavers: http://www.mommysavers.com/money-saving-ideas/online-coupon-sites.shtml

TopTenLinks: http://www.toptenlinks.com/cat.php/Shopping:Coupons

Free Grocery Coupon Sites:
http://couponing.about.com/cs/aboutcouponing/a/lowerbillpt2.htm

Senior Discounts, Bargins and Benefits
http://seniorliving.about.com/od/bargainsseniordiscou/Senior_Discounts_Bargains_Benefits.htm

Senior Citizen Discounts http://seniorjournal.com/Discounts.htm