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Smart Ways to Stretch Your Dollars
(ARA) – For many
of us, the New Year will be full of resolutions. Most people
resolve to get in shape and eat right, but especially in these
times, it’s wise to make financial resolutions and find ways to
spend smart and save in the upcoming year.
Jennifer Openshaw, successful author, radio host and financial
expert, offers the following smart tips to stretch your dollars
in 2009:
Change the Channels
We all have services we no longer need. Do you really watch all
your cable channels? Have you got hundreds of unused cell phone
minutes you’re still paying for? A second home phone line you
never use? Gym membership you don’t want? They all made sense
at one time, but what about now? Take inventory. Check your
bills and credit card statements. Find the suspects, and then
ask yourself, "Do I really need this?"
Make It Last Longer! Clean It. Fix It. Keep It.
Simply put, it pays to make things last longer. Cars,
furniture, computers or the deck on the back of your house -- a
little care can pay big rewards. So dedicate time (and maybe a
little money) to really cleaning up that old car. “My friend
has saved megabucks by keeping his Ford Explorer in good shape
for 17 years. Some folks buy three new cars in that amount of
time,” says Openshaw.
Used Doesn’t Mean Abused
Quite often, “used” goods will work just as well as new ones --
and cost a fraction of the price. "Used" also includes open box
and returned items in stores. “I just bought a lawnmower. New
$439, I got it for $129 -- used twice maybe -- and runs
perfect!” says Openshaw. Learning to buy used if you don't
already can also be a great way to save on items you need. By
becoming a member of an online shopping portal or community of
sellers like eBay or Craigslist, you’ll open up a two-way road
of buying and selling -- and saving along the way.
Save While You Spend
Use coupons, look for sales or sign up for a savings program
like Keep the Change from Bank of America that helps you save
money while you spend (BankofAmerica.com). Keep the Change
automatically rounds up check card purchases to the nearest
dollar and transfers the difference from your checking account
to your savings account. The savings really help as you kick
off the New Year. Plus, with Keep the Change, you’ll get a
match.
Do-It-Yourself
By taking over your own gardening, car washing, house cleaning
or even a little home improvement, you'll not only save money,
but get some great exercise while expanding your pride of
ownership. And it isn't just grunt work -- instead of the
weekly trip to a restaurant, try a fancy do-it-yourself meal
experience. You can turn DIY into stay-at-home fun, especially
if you get the family involved.
Take a Calculated Risk
Have you ever thought about raising deductibles on your
property, auto, health or other insurances? That extra few
dollars of coverage can really add up. “I have a friend who
just raised the out-of-pocket family maximum on a purchased
high-deductible policy from $4,800 to $8,000 and saved $2,844 a
year in premiums by taking on $3,200 more in risk,” says
Openshaw.
Courtesy of ARAcontent
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