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66 ways to save money
By Daniel | May 2, 2008
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Here is a website that has been around for a while but is worth mentioning. 66 ways to save money was developed by several groups and organizations and managed by the non-profit Consumer Federation of America (CFA). The article lists 6 catagories and provides very sound advice for saving money. Below is a list of the Topics covered and a few examples that I found to be the best. |
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- Transportation
- Insurance
- Banking/Credit
- Housing
- Utilities
- Other
“15. Consumers lose billions of dollars each year on unneeded or poorly done car repairs. The most important step that you can take to save money on these repairs is to find a skilled, honest mechanic. Before you need repairs, look for a mechanic who:
* is certified and well established;
* has done good work for someone you know; and
* communicates well about repair options and costs.”
“17. Talk to your agent or insurer about raising your deductibles on collision and comprehensive coverage to at least $500 or, if you have an old car, dropping this coverage altogether. This can save you hundreds of dollars on insurance premiums.”
“36. Although your monthly payment may be higher, you can save tens of thousands of dollars in interest charges by shopping for the shortest-term mortgage you can afford. For each $100,000 you borrow at a 7% annual percentage rate (APR), for example, you will pay over $75,000 less in interest on a 15-year fixed rate mortgage than you would on a 30-year fixed rate mortgage.”
“49. Consult Consumer Reports, available in most public libraries, for information about specific appliance energy star logobrands and models and how to evaluate them, including energy use. There are often great price and quality differences. Look for the yellow Energy Guide label on products, and especially for products that have earned the government’s ENERGY STAR®, which can save up to 50% in energy use.”
“51. A home energy audit can identify ways to save up to hundreds of dollars a year on home heating (and air conditioning). Ask your electric or gas utility if they audit homes for free or for a reasonable charge. If they do not, ask them to refer you to a qualified professional.”
“61. You can save hundreds of dollars a year by comparing price-per-ounce or other unit prices on shelf labels. Stock up on those items with low per-unit costs.”
Topics: Education, Personal Finances, Saving |