I told you about this Fabulous book by Robert G Allen, "Multiple Streams of Income."In his book he highlights 50 Ways to Save $50 a Month. For the next few weeks on Fab Frug Friday we are going to share all 50 ways and give you our two cents about each one!
1. Shop with a list and Stick to it!
This is why we love PYP shopping lists. We often speak about Albies, when we shop there we only buy what is on the list. Regular priced items are priced high at Albies and are not worth buying!
Gone are the days of going to Walmart or Costco and picking up random clothing items or movies that are cheap. When we shop we stick to our list, essentially keeping us from spending more money!
When shopping Walgreens, Target, Rite Aid, Fred Meyer or other stores we blog about feel free to copy and paste our post to a word document to make your own list to stick to while shopping. Just be sure to tell people where you got the fab info when they are soooo impressed with your money saving skills! ;)
2. Just say NO to ATM's with fees....plan ahead for your cash needs.
You can always get a fee free transaction if you use an ATM at your personal bank. Also remember that many stores will give you cash back on an ATM card purchase and that if FEE FREE!
3. Does your bank charge high fees? MOVE YOUR ACCOUNT.
There are plenty of banks that have FREE checking accounts. Don't pay for yours! We moved our savings to a money market account that gets a much higher return than our banks savings account.
4. Pay off that credit card balance!
We pay off our credit card each month. We don't ever charge more on the card than we have cash for in the bank. If you are stuck with a balance Robert can show you how to get rid of it in his book. He will also show you how throwing away that card will save you 30% on your expenses.
5. If you must carry a credit card balance, shop around for a card with a lower rate. Credit card companies want you and are willing to negotiate if you are willing to walk away if they don't give you the rate you want.
6. Look for lower premiums on your insurance policies.
Even if you got a low rate when you origianlly got the policy, you may find a lower rate if you check into it once every year or two.
7. Consider higher deductibles for your home and auto insurance.
You may have to pay a higher deducatble, but it will most likely be worth the money you saved paying a lower monthly payment! Our old truck only has liability insurance because if we crash it, it would likely cost us more to fix it than it is worth.
8. Do you have private mortgage insurance? If you have built up 20% equity in your home, you can cancel it.
Private Mortgage insurance runs about $100-$300 a month depending on the amount of your loan. It would sure be nice to knock that off your bill. You can if you have 20% equity!
9. Use a mail-order pharmacy for long-term prescriptions.
They tend to be less expensive and will save you the gas, hassle and potential of buying other things in the drug store.
10. "Doc, can I get that as a generic drug?"
Most perscriptions have generics that are the excact same drug just less expensive. You are not getting a higher quality if you choose Vicodin over hydrocodone + acetaminophen. They are the exact same chemical compound. One just has a brand name on it and a higher price tag.
Also when buying over the counter meds look for generics. Ex: Tylenol=Acetopminophen, Bayer=Asprin, Advil/Motrin=Ibuprofen, Aleve=Naproxen Sodium.
You can get your own FREE copy of "Multiple Streams of Income"
OR you can purchase Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Second Edition
at Amazon.com
1. Shop with a list and Stick to it!
This is why we love PYP shopping lists. We often speak about Albies, when we shop there we only buy what is on the list. Regular priced items are priced high at Albies and are not worth buying!
Gone are the days of going to Walmart or Costco and picking up random clothing items or movies that are cheap. When we shop we stick to our list, essentially keeping us from spending more money!
When shopping Walgreens, Target, Rite Aid, Fred Meyer or other stores we blog about feel free to copy and paste our post to a word document to make your own list to stick to while shopping. Just be sure to tell people where you got the fab info when they are soooo impressed with your money saving skills! ;)
2. Just say NO to ATM's with fees....plan ahead for your cash needs.
You can always get a fee free transaction if you use an ATM at your personal bank. Also remember that many stores will give you cash back on an ATM card purchase and that if FEE FREE!
3. Does your bank charge high fees? MOVE YOUR ACCOUNT.
There are plenty of banks that have FREE checking accounts. Don't pay for yours! We moved our savings to a money market account that gets a much higher return than our banks savings account.
4. Pay off that credit card balance!
We pay off our credit card each month. We don't ever charge more on the card than we have cash for in the bank. If you are stuck with a balance Robert can show you how to get rid of it in his book. He will also show you how throwing away that card will save you 30% on your expenses.
5. If you must carry a credit card balance, shop around for a card with a lower rate. Credit card companies want you and are willing to negotiate if you are willing to walk away if they don't give you the rate you want.
6. Look for lower premiums on your insurance policies.
Even if you got a low rate when you origianlly got the policy, you may find a lower rate if you check into it once every year or two.
7. Consider higher deductibles for your home and auto insurance.
You may have to pay a higher deducatble, but it will most likely be worth the money you saved paying a lower monthly payment! Our old truck only has liability insurance because if we crash it, it would likely cost us more to fix it than it is worth.
8. Do you have private mortgage insurance? If you have built up 20% equity in your home, you can cancel it.
Private Mortgage insurance runs about $100-$300 a month depending on the amount of your loan. It would sure be nice to knock that off your bill. You can if you have 20% equity!
9. Use a mail-order pharmacy for long-term prescriptions.
They tend to be less expensive and will save you the gas, hassle and potential of buying other things in the drug store.
10. "Doc, can I get that as a generic drug?"
Most perscriptions have generics that are the excact same drug just less expensive. You are not getting a higher quality if you choose Vicodin over hydrocodone + acetaminophen. They are the exact same chemical compound. One just has a brand name on it and a higher price tag.
Also when buying over the counter meds look for generics. Ex: Tylenol=Acetopminophen, Bayer=Asprin, Advil/Motrin=Ibuprofen, Aleve=Naproxen Sodium.
You can get your own FREE copy of "Multiple Streams of Income"
OR you can purchase Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Second Edition
at Amazon.com
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