This issue of money matters is going to focus on making & saving money. So, here is my top 10 list ideas that will help you make or save money.
1. ING Direct - This online bank offers a variety of money saving & money making services including the “Orange Savings Account,” offering a generous 3 .40% Annual Percentage Yield (no minimum deposit or fees!). Also, they offer mortgages, IRAs, online investing, and savings accounts for businesses as well.
2. Check your car insurance rates – When was the last time you called for a quote on your auto insurance policy? Competition is getting fierce and companies are in need of your business, which means lower prices, but only if you shop around! Companies like Progressive, Geico, Ameriprise, and Esurance, all offer competitive rates, so contact each one to get a quote. Be sure to compare apples to apples, and give the same variables (deductable, coverage amounts, etc.) to each company to get accurate quotes.
3. Look at your phone bill – What are you paying for home phone service? Many people get accustomed to paying the bill every month and not really paying attention to the charges. Are you paying for long distance? Features like voicemail, call waiting, or caller ID? These charges should be a thing of the past, but if you don’t ask, you won’t receive. If you are with your local telephone company (i.e. Verizon), call them and ask for a bundle package, which includes all the features described above, and free long distance. This should cost somewhere around $39.95 per month. Or, if you have a broadband connection at home (i.e. Cable, DSL, FIOS), then you should be thinking about using your cable company for telephone service. If you have Cablevision, Comcast, or Time Warner as your provider, you could be paying $29.95 per month for all the same features. If you feel your cable company is getting too much of your money already, then give Vonage a try for a mere $24.95 per month! Whatever route you decide to take… at the very least, just shop around.
4. Pay off your credit card debt – Of course, the best way to avoid creating problems for yourself is to use your credit cards cautiously and sparingly, always being sure to pay the entire balance off in full and on time each month. But if you’ve already had the pleasure of racking up some debt – as millions of people have – try this: Transfer your credit-card balances to a card with a lower interest rate ASAP. You’ll save $730 if you transfer a $2,000 balance from an 18-percent card to an 8.25-percent card and then pay off your balance at a rate of $50 a month. Better yet, transferring balances to cards with rates of 0, 1 or 2 percent and paying them off while those low rates last can save you thousands.
5. Restaurant.com – If you like to eat out, then you have got to check out this website first. It is simple. You enter your zip code, and you can purchase discounted gift certificates to participating restaurants. It’s like eating for 30%-50% off what you would have normally paid. Check it out.
6. Costco.com – Do I have to say more. Those of you who know me, know that I am a huge Costco advocate. You can get the same great deals online (sometimes better deals) that you can get in the warehouse… You can use any major credit card (they only take the American Express Card in the warehouse)… And they offer numerous money saving services on their website like, car buying, check printing, travel services, mortgage financing, real estate services, and much more.
7. Invest in your 401(k) – If you are not currently investing, you are missing out on the tax savings, automatic investing, and possible company match. This should be a no brainer!
8. Make bi-weekly mortgage payments – Here is the short of it… If you make a 1/2 payment every 2 weeks instead of a single monthly payment, you will cut off approximately 7 years off your 30 year mortgage. It’s as simple as that.
9. Quit smoking – Depending on the wallop packed by the “sin taxes” where you live, you could save more than $2,000 a year if you go from being a pack-a-day smoker to a non-smoker. You’ll also qualify for significantly cheaper life-insurance rates after you quit.
10. TheDollarStretcher.com – This is an incredibly comprehensive site dedicated to helping do more with your money.
~Damon
