Category Archives for Saving Money & Frugal Living
20 Ways You Can Save Money on Gas
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Today’s guest post comes to us from Bailey Harris. Bailey writes for www.carinsurancequotes.net, a car insurance comparison site. Visit their site to find out more!
20 Ways You Can Save Money on Gas
The rising price of gas has created financial hardship for almost everyone. Prices at the pump seem to spike day by day. While there may be no way for you to control the gas prices, there are a few tips and tricks that can be employed to help save money at the pump. Here are 20 to try.
1. Compare Gas Prices
Instead of just pulling into the nearest station and filling up, you may want to consider shopping around to find the cheapest gas price possible. Prices can vary as much as 20% in a ten-mile radius. To figure out which stations consistently have lower gas prices, keep an eye out as you drive around. If you need help remembering prices and stations, track your findings in writing. After a week or two, you will have a list of the cheapest filling stations in your area.
2. Conduct Price Checks Online
If you don’t have time to compare gas prices manually, you can also use the Internet to find out more about prices in your neighborhood. The following websites are dedicated to helping consumers find the cheapest gas possible:
3. Don’t Drive Too Far for Gas
Shopping around for the cheapest gas is smart, but driving too far out of the way to get the gas isn’t. The goal is to save money, not waste gas. Depending on your vehicle’s gas mileage, driving out of your way may add up to more than the savings that you achieve. If you find a station that offers significant savings, but is out of your way, you may want to consider planning trips in that direction.
4. Take Advantage of Rewards
Consider getting a gas card or credit card that offers rewards or rebates on gas purchases. Depending on the rebate percentages and the amount of gas you buy every year, this could save you hundreds, maybe even thousands of dollars.
5. Utilize Gas Coupons
Certain retail outlets, such as Meijer and Wal-Mart, also own and operate gas stations. These stores often give coupons out to their customers that can be used to save money on gas. For example, when you purchase certain grocery items, Meijer provides you with a coupon that lets you save $0.03 on each gallon of gas that you buy from their gas station.
6. Buy Gas in the Morning or Evening
Gas pumps measure the volume of gas, not the density. Because gas becomes denser in colder temperatures, pumping gas in the cool morning or evening hours will provide you with better gas price economy.
7. Buy Gas During the Week
Gas prices are usually higher on the weekend. They typically begin their climb on Thursday or Friday, but may begin as early as Wednesday. Filling up late Monday or early Tuesday is usually the most cost efficient option.
8. Don’t Run Your Car on Empty
You should never let the gas get too low in the tank. Running on empty, or close to it, makes your vehicle work harder to accelerate and decelerate in the usual fashion. Try to keep at least a 1/4 of a tank at all times. This will help improve gas mileage.
9. Don’t Shortchange Yourself
When you quit pumping gas into your car, some fuel is left in the nozzle. This fuel can amount to as much as half of a cup and is nothing but a bonus for the next customer. To make sure you get all of the gas that you paid for, tip the nozzle 180 degrees after you finish pumping so that all of the fuel drains into your tank. Though it only seems like a small amount, it can really add up in the course of a year.
10. Have Your Vehicle Serviced Regularly
Mechanical problems may result in higher gas consumption. Studies have shown that vehicles that have not been properly maintained use 10 to 20 percent more gas. According to www.fueleconomy.gov, servicing your car regularly can improve your gas mileage by as much as 4.1 percent.
11. Get Oil Changes
Changing the oil in your vehicle on a regular basis is one of the most essential aspects of vehicle maintenance. Clean oil helps reduce the wear and tear on the engine and helps to maintain your vehicle’s fuel economy. Unless the owner’s manual of your vehicle says otherwise, oil should be changed every three months or every 3,000 miles, whichever comes first.
12. Change Your Air Filter Regularly
Replacing the air filter in your vehicle regularly can improve your gas mileage by as much as 10 percent. Depending on the current gas price, that can be anywhere from $0.25 to $0.40 per gallon. Most air filters are inexpensive and can be changed with little mechanical knowledge. If you are hesitant to change the air filter yourself, it can be done at a service garage or an oil change facility.
13. Change Your Fuel Filter
In addition to changing the air filter regularly, you should also change your vehicle’s fuel filter whenever necessary. A clean fuel filter can dramatically improve your gas mileage and will help your car run smoother and more efficiently. If you cannot change the fuel filter yourself, you can have it done at a service garage or an oil change facility.
14. Check Your Tires
If your tires are not properly inflated, it can have a dramatic effect on your gas mileage. Under-inflated tires can lower the mileage by 0.4 percent for every 1 PSI drop in pressure. Tires should be checked with a tire gauge at least once per month. The best time to check the tire pressure is during cool weather or after your car has been parked for several hours. To learn more about how much pressure should be in your tires, consult the owner’s manual for your vehicle or check the tire itself for information.
15. Remove Snow Tires ASAP
Many people use tires that are specially designed to drive in snow. Though these tires make it easier to drive through winter weather, they also have a damaging effect on your vehicle’s fuel economy. Snow tires have thick tread and use more gasoline than summer or all-season radials. As soon as the snow quits flying, you should remove the snow tires and replace them with a more fuel efficient option.
16. Remove Snow and Ice
In the winter, snow and ice can quickly accumulate on vehicles that are exposed to the elements. Heavy snow and ice can add as much as 100 pounds to the weight of your vehicle. This weight slows you down and wastes gas. Always try to remove as much of the snow and ice as you can before heading out on the road.
17. Accelerate Slowly
The faster you accelerate from a dead stop, the more gas your vehicle will use.
Apply pressure to the gas pedal slowly and gradually every time you take off. This one little act will improve your vehicle’s gas mileage significantly.
18. Utilize the Cruise Control
If your vehicle is equipped with cruise control, you should utilize this option every time you are driving on the highway. Cruise control helps you maintain a steady pace, which in turn helps stabilize your vehicle’s gas consumption.
19. Use Fuel Saving Products
Although most studies have been inconclusive, the EPA has tested several fuel saving products that are meant to decrease your vehicle’s fuel consumption. Here are just a few of the products that have been tested:
- Air Bleed Devices
- Vapor Bleed Devices
- Ignition Devices
- Fuel Line Devices
- Liquid Fuel Injection Products
To learn more about these products and devices, speak with your mechanic or visit www.epa.gov.
20. Drive Less
Driving less is the easiest way to save gas. Try carpooling, get a bike, or walk short distances. You could also consider using public transportation whenever possible. You may have to pay a small fee to take the bus or subway, but such fees are almost always less than the cost of gas.
How about you all? Have you used these tips or others to save money on gas?! Share your experiences by commenting below!
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
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Debt Free Christmas: Saving You Time and Money
Today’s guest post comes to us from Elias Cortez. Elias is the editor of topnetbookpicks.com and provides reviews and information for netbooks computer products, such as the toshiba nb305 review . You can read all his mini netbook reviews and other popular netbooks information at his website.
Debt Free Christmas: Saving You Time and Money
As time has passed, I’ve discovered that the holidays often end with a large amount of holiday debt incurred because of large gift purchases for friends, family, extended family, teachers, coaches, and everyone else. Each year, the budget for Christmas gifts seems to get smaller and smaller and the list gets larger and larger. The list gets longer and the kids get older and their participation grows. Sharing your appreciation with everyone who contributed to the success of your previous year doesn’t mean that you have to go over budget. Incorporating your children and friends into making inexpensive holidays gifts is a great way to laugh and play while taking it easy on your checkbook.
Debt free living during Christmas time begins with setting your budget ahead of time so that you don’t overspend. By starting the saving process early in the year, set aside in a bank account or a sock drawer, you will find that paying for Christmas doesn’t make you cringe. While there are numerous volunteers, co-workers, coaches, and teachers, they don’t all need an individual gift to express your gratitude. A hand-written card will make anyone’s heart smile. Also, purchase a bulk of small tealight candles and attach a note that says something such as “you light up my world” or “you light up our lives” or even “you light up the office”.
Personalized Gifts:
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With your home computer and a few decent photos of the family, friends, or sceneries, you can personalize calendars, photo collages, or cards through a free photoshop program, through an online program such as Shutterfly, or through store photo centers at Target or Walmart.
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Target also has a dollar bin section which is great for smaller gifts of appreciation for volunteers, coaches, teachers, and instructors. These dollar sections are conducive to themed gift baskets, as a majority of the contents available match other content.
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For example, for friends or significant others you could buy a dollar or five dollar movie with popcorn and an individual popcorn bowl from these dollar sections and make it into a themed gift appropriate for whole families or couples.
- For coffee lovers, a coffee cup filled with beans is the perfect gift.
Friends:
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Close friends always appreciate reminders of shared moments which can be done through scrapbooks. As an annual theme, you could easily make one or two scrapbook pages for each holiday/birthday/special occasion which you bound together at the end of the year as a Christmas gift.
- For those adult couples with whom you are acquainted, painting customized wine glasses and complementing it with a bottle of wine makes for the perfect holiday party.
Family:
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As far as extended family goes, there can be a lot of them. Making personalized Christmas ornaments is an easy way to check them all off of the list. By mixing flour, salt, and water you can make dough which can be shaped into ornaments and left out to dry and solidify. By poking a hole in the top, once it is dry you can paint or decorate the gifts and run a small hook through it.
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A video or DVD compilation of the family activities having taken place over the last year is a great idea for grandparents or aunts and uncles who live far away. Collecting filmed bits throughout the year of performances, soccer matches, recitals, can all be clipped and combined using DVD software and a home computer.
- Framing a family photo makes an easy and inexpensive gift for extended family members as well.
Themed Kits:
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Those who enjoy sewing can be given a small kit full of needles, pins, and threads in their favorite color.
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An inexpensive red and white plastic table cover with red plastic utensils provides for an endearing picnic pack.
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The outdoorsman or woman in the family would greatly benefit from a gardening pack including a packet of seeds and a gardening tool inside of a small bucket.
- A car wash kit can also be made with dollar section sponges, car soap, and or a tire brush.
Cooking Kits:
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For anyone who isn’t on a diet or watching their holiday weight cookies, pies, cakes, breads, and desserts are great gifts. Everyone loves baked goods.
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Breakfast packs can be made for multiple people by purchasing large bags of pancake mix or waffle mix with chocolate chips and a box of ziplock bags. You can separate small quantities for each gift and place them inside of a ziplock bag with a note that instructs them to add water, oil, and eggs.
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A BBQ kit would include a single BBQ utensil with a bottle of sauce. You can purchase a set of BBQ utensils with multiple bottles of sauce and simply divide one utensil from each with a single bottle and distribute them to the men in the family.
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A chocolate kit can be made by purchasing large bags of fun size chocolates in different kinds such as bars, truffles, kisses, etc… and mixing and matching handfuls placed inside waxed paper, tied off with string.
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If you are better at cooking than your friend, offer to come over and cook for them as a gift.
- If you have a printer, download and print a variety of recipes from the internet and place them on 3 X 5 cards, then place them inside a small plastic box usually found in the dollar section at Target.
Gift Cards:
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For any of the aforementioned kits, a small gift card can be purchased and included.
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A Starbucks gift card can be placed inside of a coffee mug or an itunes gift card on the inside of the book on their favorite band.
- A movie theater gift card complements a popcorn bowl perfectly.
No matter which online gift cards you want, be sure never to pay full price for them. There are websites which sell unwanted gift cards from consumers at a discount such as giftcards.com or plastic jungle. Halfoffdeals.com is one of many half price websites which offer gift cards for restaurants, trips, shows, and stores at great deals. Warehouse stores such as Costco or Sam’s Club also offer gift cards at a rate of 15-20% less than the face value for places like Baja Fresh, iTunes, Regal Cinemas, and AMC Theaters.
How about you all? What techniques do you use to save money around Christmas time? Share your experiences by commenting below!
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
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7 Ways to Save Money Driving
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Today’s guest post comes to us from Alban. Alban is a personal finance writer at Home Loan Finder, a free home loan comparison website. Click on his website to find out more!
7 Ways to Save Money Driving
It can seem that gas stations have us by the fuel caps the way prices can fluctuate from day to day and week to week. While there is no getting around our need to fill up, you can put more time between each visit to the gas station, and save money when driving with just seven steps which are easy to implement in your life.
1 – Choosing the car
You may not see a boost in your savings account balance if you go out and upgrade your car when you weren’t planning to, or couldn’t afford to. However if you’re in the market for a new vehicle, you should pay as much attention to its fuel consumption as to the number of seats and whether you like the color.
When you are comparing a new car, look for the fuel consumption rating. This will tell you how many litres/gallons of fuel are used per 100 kilometres so you can compare each vehicle across a level playing field. This fuel consumption figure will be an average of the consumption during city driving, and the consumption during country or suburban driving, therefore make sure to compare the consumption which relates to the type of driving you’ll be doing most.
2 – Regularly servicing your car
New or old, every vehicle can be made more fuel efficient through regular servicing. With clean filters and regular oil changes your vehicle will run more efficiently and use less fuel, you’re also able to pick up on any maintenance issues and rectify wear and tear of parts which can make your car have to work harder.
At your periodic services, your mechanic should also rotate and check your tires. Tires with a good tread, and at the right pressure will ensure your car uses fuel efficiently when you’re on the road.
3 – Save your driving habits
Even driving the most fuel efficient car erratically can use excessive amounts of fuel, and to save money when driving aim to drive in a more measured way. For example, quick acceleration from the lights gains you little ground even if you feel speedy, and will cause a sudden and significant surge from your fuel tank too. Driving above the speed limit also makes your car work harder to go faster in most cases, as can rapid changes in speed if you speed up and slow down repeatedly to try and fit through a break in traffic.
Instead, use your cruise control wherever you can to maintain a constant speed and conserve fuel. If you drive a manual, make sure you change gears at the correct rpm for each gear range, rather than maxing out the lower gears.
4 – Change your type of fuel
Gasoline is one of the most expensive types of fuels you can be putting into your car, unfortunately a diesel vehicle or a gas conversion can be just as costly as filling your tank every second day. Therefore, before you consider buying a diesel car to make your fuel consumption more efficient, or converting to gas to pay less per litre, look at the savings you would make from the conversion, and whether they would be outweighed by the cost of the fuel change. If you do a lot of driving then the cost could be outweighed fairly quickly, but if you only drive around the city, it could be some time before you break even.
5 – Plan your drives
If you can do more than one thing each time you’re out in the car, you can save another trip at another time. For example if you return a video at the video store around the corner from your child’s school on the way to pick them up in the afternoon, you’re saving the fuel of another car trip, to almost the same destination.
Planning your trips in this way does require you to be more organized. Therefore, always make sure to take a shopping list to the supermarket, so you don’t have to make return trips for forgotten items. You can aim to car pool, picking up other children in your child’s class on the way to school, and saving when their parents drop your child home. Also make sure to plan your trips using a GPS system or maps, to save time in getting lost, and potentially travelling further, or retracing your steps.
6 – Get smart with your air-conditioner use
We all know our cars use more fuel when we have the air-conditioner running, and you don’t have to melt on hot days just to save a little in fuel money. Instead, just be aware that when you are driving around 60 km/h it is more fuel efficient to have the windows down to cool off. However, if you are travelling faster than 60 km/h it is more fuel efficient to roll the windows up and use the air-conditioning due to the reduced wind drag.
7 – There’s an app for that
If all of this fuel watching and habit changing seems like a lot to remember when you should have your eyes on the road and your mind focussed on driving, then your iPhone can help. There are several apps available which can help you drive more efficiently, and save money on fuel.
- GasBag. The GasBag app keeps track of fuel prices and will be able to find the cheapest fuel station, the shortest distance from you, so you don’t use up those fuel savings in getting to the pump. GasBag also has a log book function which allows you to track each time you fill up, and the mileage you are getting.
- EcoDriveEd. The EcoDriveEd app actually teaches you how to drive more fuel efficiently. The app uses your iPhone’s built in accelerometer to teach you driving techniques which will reduce your emissions and help you save on fuel costs. You will even receive real time feedback from the training programs, so you can adjust your habits as you drive.
How about you all? What techniques do you use to save money on the road or with your car?
Share your experiences by commenting below!
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
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The Frugal Lifestyle: What It Is and What It Isn’t
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Today’s guest post comes to us from Maria Rainier. Maria is a freelance writer and blog junkie. She is currently a resident blogger at First in Education and performs research surrounding online schools. In her spare time, she enjoys square-foot gardening, swimming, and avoiding her laptop (one of my favorite activities as well!).
The Frugal Lifestyle: What It Is and What It Isn’t
Frugal is the new F word (sorry, Gordon Ramsey), and everyone thinks they know what it means. It means something different, however, for everyone. There are many who have misconceptions of those who call themselves frugalists. Their varied philosophy is a surprisingly inspirational one.
Frugal versus Cheap
Being frugal isn’t always about being cheap. Just because something is marked 20% down doesn’t mean the frugal individual will stock up on a cartload of it and consider it a day well spent. He or she might not buy any of it at all, even if it is cheap. He or she may have already found a way to do away with the product entirely.
The frugal individual finds ways to make do without many items that others take for granted—paper towels, dryer sheets, designer clothing, microwave popcorn—because they have learned that not only do they not need these items, they don’t even miss them once they’re gone. True, it might take time getting used to not having rolls of paper towels available for every spill and stain, but frugal people know that they can simply opt to use, wash, and reuse cloth towels and save $10 a month on a 6-pack of Scott paper towels. In this way, being frugal is often being eco-friendly.
Frugal versus Penny-Pinching
By spending less on things they have decided they don’t need, frugalists have more money left over to pay off debts, save, or invest. Some individuals insist that they’d simply rather increase their income rather than worry about penny-pinching. Feel free to increase your income, but if you’re still spending more than you make, you’re still going to be in debt.
Frugalism isn’t about pinching pennies. In a way, it’s minimalism in action. Capitalism has flooded most American houses with mountains and mountains of junk that never see the light of day. Frugalists aim to spend less on products that could end up in this junk pile. By keeping in mind what really matters—family, friends, hobbies, etc.— frugalists find ways to do without junk and live focused, truly enjoyable lives.
Frugal versus Fun
Frugal people aren’t necessarily extremists, and it’s a common misconception that they don’t have fun because they won’t spend money. These people have obviously never heard about the idea of cheap fun! Frugalists know that there are countless ways to have fun on a shoestring. For example, while others might cringe at the idea of cutting out cable, some frugalists choose to pay $10 a month for Netflix to get unlimited movies and TV shows rather than spending as much on a single movie ticket every weekend. Instead of going out to restaurants, they try out new recipes at home and invite friends to come over with a bottle of wine. Instead of playing the newest video games, they play soccer outdoors or learn new languages.
Frugalists insist that one of the perks of being frugal is being reminded daily of what’s important in life. Just as they have decided that they don’t need or even miss spending hundreds of dollars a year on designer clothes or spending hours shopping online, they have decided that they’d rather spend time with their significant others or volunteering in the community. Instead of holding their kids’ hands throughout the day at the mall shopping for holiday gifts, they’d rather spend a day with them in the yard or living room DIYing holiday cards, ornaments, and even homemade gifts. Grandparents like heartfelt gifts more than retail items, anyway.
Frugalists aren’t reborn overnight; it takes time to learn what individuals value and what we need versus what we want. No one is telling you to sell your car and ride a bicycle everywhere you go, even to your business trip across the country. Small changes made daily, however, can change your life.
How about you all? Are you a frugalist? Do you know any frugalists? What are they like? What do they have in common/different about them? Do they drive you up the wall or do you not mind them?
Share your experiences by commenting below!
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
Subscribe to My Personal Finance Journey via Email
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Why It’s Frugal Being Green
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Today’s guest post comes to us from Maria Rainier. Maria is a freelance writer and blog junkie. She is currently a resident blogger at First in Education, researching various online degree programs and blogging about student life. In her spare time, she enjoys square-foot gardening, swimming, and avoiding her laptop.
Her post today is about a topic that is very interesting to me – whether or not green living makes economical sense (or cents, you want to be cute!). To see the past posts that I have written about this intriguing field, visit the following link – Previous posts about the economics of green living.
Why It’s Frugal Being Green
A Toyota Prius isn’t frugal (see previous post about whether purchasing a hybrid vehicle makes economic sense), at least not in the short-term (and what with manufacturing costs, transportation, and entailed CO2 emissions, it’s arguably not as green as most people think). There are, however, small and remarkably easy steps to be friendlier to the planet that cost less than common non-green practices. Read below to find out more!
1. Contact the companies sending you junk mail and catalogs and tell them to stop. This saves trees and excess CO2 emissions for the planet and it also saves you the frustration of looking through a catalog of products you don’t need but can’t help but want when looking at them on glossy paper.
2. Make your own household cleaners. You get to choose what goes into your home (bleach is bad for both the environment and your health, even the health of your furry friends and children), and making your own cleaners isn’t as hard as you might think. Distilled white vinegar, lemon juice, and baking soda are the basics, and you’ll need little else to clean basic stains and grime.
3. Don’t buy paper towels. They’re a huge waste of money and the earth’s resources. Every paper towel you throw out ends up in a landfill for future generations to deal with—and suffer from. Use, instead, cloth napkins and cut up old towels to make cleaning rags that you can throw in the washer after use. If every six rolls of paper towels costs about $10 and the average family goes through that in one month, that’s $120 you’ll save a year.
4. Print on both sides of paper when printing directions, online recipes, or other home references.
5. Use your dishwasher, and don’t pre-rinse dishes. It all depends on individual practice, but the average American will use more water hand-washing dishes than will modern dishwashers. Just catch the dishwasher in time before it goes into the drying cycle and let the dishes air-dry. If certain dishes are too dirty for the dishwasher alone to get, invest in a plastic bin that will fit in your sink and put extra-dirty dishes in there. When you wash your hands at the sink, wash them over the dirty dishes so the bin catches the water and you don’t have to waste more water on active pre-rinsing.
6. Buy secondhand. It’s more planet-friendly and cost-effective alternative to fair trade purchases. Keeping clothes in circulation keeps them out of landfills, where the thousands of toxic pesticides and chemicals used in producing and treating the average cotton t-shirt (a single drop of which, in the human blood stream, causes death) can leach into our soil, water source, and eventually our food.
7. Utilize fresh air by opening windows in the spring, fall, and even in summer if it’s not too hot outside. In winter, turn down your thermostat and wear a sweater. There’s no sense in dressing in shorts during the holidays while going broke over the energy bill. The holidays are expensive enough!
How about you all? What frugal, green living techniques do you use? Have you tried any of the ones listed above?
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
Subscribe to My Personal Finance Journey via Email
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Apps That Every Frugaholic iPhone User Needs to Download
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Today’s guest post comes to us from by Olivia Coleman, who writes on the topics of online colleges and universities. She welcomes your comments at her email address: olivia.coleman33@gmail.com.
Apps That Every Frugaholic-iPhone User Needs to Download
They say admitting your condition is the first step. So here it goes: I’m a frugaholic.
I cook every single day, haven’t stepped foot inside a mall in the past year, and I only rent $1 movies at the Red Box when I feel like catching a good flick—all in the hopes of saving money. So it came to a shock to me, especially to my friends, when I spent several hundred dollars buying a fancy iPhone. What can I say, my 4-year-old Razor broke and it was time for a major upgrade. But instead of suffering from shopper’s remorse, I’m learning how to turn my phone into a true investment.
Here are some of the top iPhone applications that will not only help you save money, but will make you feel a little better about indulging in your expensive new toy. Most importantly, all the apps listed below are free.
Save on Food
Economy Shopping Lite (EcoShop) This neat application for iPhone users is more or less an electronic grocery list which helps you stay organized—and in turn helps you save money. What makes this app so special is that it stores the price and the location that you purchased each item from, which gives you a heads-up on the best time and place to buy certain items like eggs and bread. It also gives you competitor prices. An extra perk is that this app also automatically sorts your shopping list by the ‘date of last purchase,’ so it reminds you when you are running low on an item. Lastly, it composes a chart of your monthly grocery bill, so you can see where you’re spending most of your money and in-turn where you should cut back.
Where do Kids Eat Free This iPhone app can save you tons of money by pin pointing what restaurants let your kids eat free and on what days. Simply type in your zip code and a list of restaurants will appear organized by days of the week. Since the app is user-managed, if a certain area does not list any locations, you can personally add some and share with other app users.
Save on ATM Fees
We’ve all been in the situation before: You need fast cash, but the nearest ATM machine in view is not your bank. On average, people spend $2 per transaction withdrawing money from another bank’s ATM machine, according to the American Bankers Association.
Instead of spending up to $100 a year to access your own money, ATM now will locate different ATM machines, helping you avoid pesky fees. Featured banks are Wells Fargo and Chase, just to name a few.
Save on Gas
Cheap Gas is an application that is designed to help you locate the cheapest gas in your area. All you have to do is enter your zip code and a list of close-proximity gas stations and their real-time fuel prices will appear. This app can be a huge money saver if you own a gas guzzler.
How about you all? Have you all used these (or other) apps before to save money? Share your experiences by commenting below!
Did you like this article? You can get the complete text of all the latest articles at My Personal Finance Journey in your email inbox each evening by clicking the link below and entering your email address. Your address will only be used for mailing you the articles, and each one will include a link so you can unsubscribe at any time.
Subscribe to My Personal Finance Journey via Email
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Be Loaded at Christmas: How to Make it Happen
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Today’s guest post comes to us from Alban. Alban is a personal finance writer at Home Loan Finder, where he helps people to compare home loans online. Enjoy!
Be Loaded at Christmas: How to Make it Happen
There is no mystical secret on par with the magic of Santa Claus to guarantee a more affordable Christmas – you either need to save more or spend less, or both. ‘Save more and spend less’ seems like an easy enough motto to follow for the holiday season, but the mechanics of how to actually make it happen will need to be implemented in a number of areas of your life, as far out from December as possible.
Therefore, consider these six savings strategies to help ensure you have more than enough money for the Christmas of your dreams.
1 – Start saving early
Even small contributions can add up to a jolly Christmas fund, and the earlier you start, the smaller your contributions will need to be to reach you goal – you won’t even notice that you are saving. To make your savings work hard while you’re not watching, deposit your contributions to a high interest savings account. This means your savings will grow through your own contributions and through interest earnings, and the longer the account is open, the more compounding interest opportunities you have – where you earn interest on your interest.
Plus, even if you reach your goal early, or you have set a goal budget, save more than you think you’ll need to cover any unexpected expenses, and maybe even a special holiday treat for all of your hard work.
2 – Start budgeting early
A successful Christmas budget includes all of your expenses, not just the gifts. This means budgeting for parties and the new clothes you need to buy for the party, decorations, food if the family are coming to your place, and of course decorations.
You won’t be out of cash at Christmas time if you know exactly how much you need, and if you budget for more than you think you’ll need. Emergency expenses can be greater during the holiday season, and unexpected costs can have more of an impact than they normally would because you’re not working, and you have more outgoing money already. Therefore, make sure your bank account is loaded for all of your planned expenses, and those unexpected surprises.
3 – Start shopping early
When you shop for presents and Christmas supplies early you can avoid the crowds, and save yourself time and therefore money on parking, lunches and pick-me-ups to get you through the battle of the shoppers. Plus, hitting the stores early means that Christmas items are not yet marked up in price, food and snacks are cheaper, as are red and green napkins, star shaped cookie cutters, plastic plates and garden lights – things which are in the stores all year around but which are very popular, and therefore very expensive, in December.
Of course plenty of stores have Christmas sales, but you don’t need to wait for these to nab a bargain. There are also mid-year sales, end of season sales and stocktake sales which offer generous discounts on Christmas presents and supplies. And in stocking up on food, most of this can be frozen so it’s fresh, and doesn’t get eaten early.
A successful Christmas shopping trip also means making a list, taking the list with you and sticking to the list. Impulse buys for Christmas can drain your budget quickly, and you end up buying items you don’t need, things you had already bought but forgot about, and things which you will forget about because they’re not on your list, and will therefore go unused.
4 – Plan time at home
While there are 12 days of Christmas, you don’t have to go out to celebrate every single one. You can instead stay at home with your partner or your children and play games, watch movies, bake or go for walks and save on food and drinks, snacks to entertain guests and fuel to drive all over town. Instead, you get to spend some time this Christmas with your family and you are able to return to work rested and relaxed, which can in turn make you more productive, and lead to more money to save for next year.
5 – Talk about your Christmas goals
It is easy for everyone – not just the kids – to get caught up in making a Christmas wish list for Santa. However, if you’re looking for ways to have a more affordable and in turn more meaningful Christmas why not take a look at exactly how much you have come to spend. Take the time to talk to your children about what to expect this Christmas, explaining that they can’t – and don’t need – hundreds of new toys. Speak with your family and friends so you can all set spending budgets, as this stops the inclination to overspend because you think someone will have spent more on you, than you did on them. And speak with your guests if you’re hosting Christmas dinner and have everyone bring something, chances are your guests will be happy to contribute to the day.
Plus, it is very likely that your friends and family will all be looking to save on Christmas spending too, and will be happy to set a budget this year.
6 – Declutter your life
In addition to saving for your Christmas budget, you can also raise money by selling items which you no longer want or need. These could be anything from old books you’ve read or video games you don’t play; old clothes which don’t fit or are out of style; that table tennis table which no one uses anymore; your child’s backyard swing set or cubby house; and even an old TV or computer.
When you look around your home you will find countless items which you can get rid, and which you really don’t need in your life. As a result you are able to focus on what is really important, and what you want for Christmas – as well as raising funds from the sales. You will be able to see what you really want and need, and you can now fit new items into your life without all the clutter – what you may even realise is that there is nothing you really want or need for Christmas at all.
Thanks for reading!
Alban is a personal finance writer at Home Loan Finder, which offers information on reverse mortgages.
How about you all? What techniques do you all use to save money at X mas time? Share your experiences by commenting below!
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*Photo courtesy of — http://www.sendmore.co.uk/acatalog/pop-up-christmas-cards.html
Creating A Will and Testament And Interesting Bequests From The Past
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For a while now, the creation of a personal last will and testament has been on my “to-do” list.
This was after reading several recommendations in the general personal finance books I frequently use as reference material (Personal Finance For Dummies
by Eric Tyson and The Complete Idiot’s Guide to Personal Finance in Your 20’s and 30’s by Sarah Fisher).
by Eric Tyson and The Complete Idiot’s Guide to Personal Finance in Your 20’s and 30’s
by Sarah Fisher).Despite these recommendations to have a will, I had been putting off the exercise of will creation because I didn’t think I was adequately armed with the proper knowledge to know what to put in the document. Ideally, I was meaning to read The Complete Idiot’s Guide to Wills and Estates first).
However, several days ago, I came across the website below, which offered free templates for creating your own will. Needless to say, creating a will this way isn’t ideal, as it would be much better to have your will reviewed and prepared by an attorney. However, I figure that this is definitely better than nothing.
Note: The website above is also a great source for templates of other legal documents – ranging from real estate forms, rental contracts, patents, and franchise documents. Check it out by clicking on the link above!
So, I simply clicked on the website, chose the correct will template that suits my situation (not married with no kids), and filled out the required fields. It was fairly easy!
Special Bequests
As I was filling out the fields on the will template, one of the sections caught my eye in particular – it was the section regarding what is known as bequests.
For the uninitiated, a bequest in a will is essentially a specific direction from you, the willer, for how/what a portion of your assets should be used for.
This bequest section reminded me of some gossip I heard while living in Philadelphia this year about a special bequest from Benjamin Franklin to demonstrate the power of compounding interest. After searching around on the internet, I found that Ben Franklin’s bequest, as described by the gossip, is indeed true, and is described well by Ben Franklin’s biography of Wikipedia.
An excerpt from the Wikipedia article is shown below.
Franklin bequeathed $55,000 in 2010 Dollars to each to the cities of Boston and Philadelphia, in trust to gather interest for 200 years. As of 1990, more than $2,000,000 had accumulated in Franklin’s Philadelphia trust, which had loaned the money to local residents. When the trust came due, Philadelphia decided to spend it on scholarships for local high school students. Franklin’s Boston trust fund accumulated almost $5,000,000 during that same time; at the end of its first 100 years a portion was allocated to help establish a trade school that became the Franklin Institute of Boston and the whole fund was later dedicated to supporting this institute.
Similarly, I found another example of an interesting bequest while scouring the internet. According to The Cross Roads Fund, in 1867, Benjamin Hicks left $20,000 to the American Society For the Prevention of Cruelty to Animals, with the stipulation that the interest could be used for the Society, and the principal remain intact.
How about you all? How did you go about creating a will? Did you place any interesting bequests in it?
Are you aware of any other “famous” or “unique” bequests through history?
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Do Cheap, Generic Batteries Make Financial Sense?
In a previous post, we were able to uncover that buying rechargeable batteries does make both 1) environmental and 2) economic sense. Another logical question also on the topic of batteries involves whether or not buying generic batteries makes economic sense.
Several years ago, I made the mistake of buying a 30 pack of generic AA batteries from an Oops Outlet Store. When I got home and started installing the batteries in to my various household appliances, I found that the electronic devices only lasted about 2 days with the charge that the generic batteries contained.
Generic batteries are very tempting to buy since they are often several levels of magnitude cheaper than the name brand Energizer and Duracell batteries.
However, even with them being cheaper, do you actually come out ahead in the long run financially by “biting the bullet” and buying the more expensive batteries from the beginning?
This analysis will be the subject of today’s post.
Background and Approach to the Analysis
Yesterday, when I started researching this topic, I was very excited because I was expecting to be able to 1) obtain pricing information on Amazon.com, 2) look at the technical spec sheets of each battery, 3) compare the capacity of each battery, and 4) arrive at a conclusion about which battery is most worth the money.
However, due to differences in the fundamental construction of each battery, I soon realized that I would have to conduct a physical experiment to drain the batteries and test how much capacity they contain.
While it would be very fun to conduct this experiment, since this is a finance blog (and not a engineering blog), I’m going to use the finance-approach and piggy back off already existing information.
Experimental Setup
After doing some searching online, I stumbled upon an experiment conducted to determine if generic batteries give you more Amp-Hours (let’s just call it “total power”, in Lehman’s terms) per Dollar cost.
Generic vs. Name Brand Battery Experiment
In the experiment, a machine is hooked up to 6 different branded AA, 1.5V batteries (one at a time), a 0.5Amp current is drawn from them, and the time (in hours) at which the battery no longer functions is recorded.
The current drawn (0.5Amps) is then multiplied by the time recorded to obtain the common unit of Amp-hours.
Experimental Results
The results from the study above are shown below and ranked from #1-#4 in the order of yielding the lowest cost per Amp-hours of “power.”
- #1 Thunderbolt Magnum:
- The cost is $5.99 for 26.4Ah = $0.2269 per 1Ah
- $5.99 ÷ (24 x 1.10Ah) = $0.2269 for 1Ah
- #2 Duracell CopperTop:
- The cost is $10.39 for 26.24Ah = $0.3960 per 1Ah
- $10.39 ÷ (16 x 1.64Ah) = $0.3960 for 1Ah
- #3 Rayovac:
- The cost is $5.99 for 13.68Ah = $0.4379 per 1Ah
- $5.99 ÷ (12 x 1.14Ah) = $0.4379 for 1Ah
- #4 Energizer:
- The cost is $7.49 for 16.64Ah= $0.4501 per 1Ah
- $7.49 ÷ (10 x 1.66Ah) = $0.4501 for 1Ah
As you can see the results above, the best deal as far as getting the most “power” for your money is in fact, a generic battery.
However, I feel these results proves not that generic batteries in general are a better deal than name-brand batteries, but that only 1 type of generic battery, Thunderbolt Magnums, are definitely a better.
Evidence for this conclusion can be seen in the fact that of the 6 batteries tested, only the Thunderbolt Magnum batteries are the only generic battery that made it in to the top 4 (I do not consider Rayovac to be generic since they are priced so closely to Energizer and Duracell.
Key Takeaways
For me, I will take-away the following actions items from these results.
- Continue to avoid buying generic batteries, in general, because they do not yield as high of capacity per Dollar spent than name brand (Energizer and Duracell batteries)
- I will purchase some Thunderbolt Magnum Batteries @ HarborFreight.com (only $4.99 for 24 batteries) to see if they work as well the study claims.
- Currently, I am in the habit of buying Energizer batteries over Duracell, because I have thought that they performed better. However, the results of this experiment prove that Duracell are in fact a better value and give you more output.
How about you all? Do you all use generic or name-brand batteries? Have you found any generic batteries that work well and you enjoy using?
Share your experiences by commenting below!
Adjusting My Monthly Budget to Account for Home Ownership
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It is a widely accepted fact that owning a home changes your financial situation significantly.
Incorporated in with the smörgåsbord of financial changes is deciding how a person will change his/her monthly budget to accommodate for the pains and pleasures of homeownership.
The changes that I have made to my budget since buying a condo in late July of this year will be the subject of today’s post.
Listed below are the considerations and financial action steps that I have decided to take. Enjoy!
- Electricity expense –
- This will vary as my usage varies each month.
- No action is needed.
- Home loan payment (biweekly) –
- Can be calculated using biweekly payment amortization schedule tool from previous my post.
- Comcast internet service – $30
- I will just need to remember to renegotiate this after my 6 month special offer is up – refer to previous post about asking for a discount for more details.
- Netflix DVD rental monthly fee – $15
- As long-time readers of the blog will know, I am a big fan of Netflix, as it saves me hundreds of Dollars per year on cable tv expenses.
- I will continue to pay to receive Netflix in my new condo.
- Condo Insurance – $34 per month ($400 per year)
- This is the set premium for the insurance package I bought from Erie Insurance Company.
- Property tax savings –
- The closing statement (HUD-1) that the real estate attorney prepared for me in preparation for the settlement of my condo purchase stated that I was owed a property tax credit of $77.77 for the month of July.
- Multiplying this value by 12 to get the yearly property tax, I figure this is a pretty good estimation of what my property taxes will be, as it is fairly close to the 1.5% of the property value that The Complete Idiot’s Guide to Personal Finance in Your 20’s and 30’s recommends for financial planning.
- I will need to be sure to keep in mind the tax benefits of home ownership, as the property taxes I pay on my property are tax deductions.
- House Maintenance savings –
- According to the home buying and personal finance books I read by Eric Tyson, the generally accepted practice for how to account for the various home maintenance expenses that can come up throughout the year is to save 1% of the property’s value for potential maintenance issues.
- I feel that this level of savings is appropriate, so I will set up an automatic transfer each month for 1% / 12 of the property’s value in to an online high yield savings account.
- Condo Homeowner’s Association (HOA) monthly fees –
- For now, I am using $200 per month as an estimate for how much my HOA fees will be.
- This is calculated by taking the 1 day’s worth of HOA fees that I had to pay the sellers for the 1 day in July that I owned the condo and multiplying it by 31 days.
- According to my neighbors, this fee also includes my gas (heating and A/C) bill as well. So, it sounds pretty reasonable, since it is currently the summertime, and the A/C will be running constantly to keep the house cool.
- Life dreams savings –
- As stated in the previous post about life dreams and saving for them, David Bach suggests that you arrange to have 3% of your take-home pay (after taxes) automatically transferred to a savings account each month.
- Since my monthly income will be decreasing by 67%, I simply recalculate this quantity to represent 3% of my new income.
- Life values savings –
- As stated in the previous post about life values, these are calculated based upon how much money I need to save per month in order to achieve my specific values.
- Because of this specific nature, these quantities will not change.
Did I leave any expenses out that I should be accounting for now with home ownership?
Please let me know by commenting below!
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Related articles about budgeting for home ownership at several of my favorite personal finance blogs:
Budgeting for Home Ownership – Get Rich Slowly
Cost of the First Year of Home Ownership – Budgeting in the Fun Stuff