Credit Cards

?The first month you don't pay your entire balance in full, you should ditch your card as soon as possible and start using cash or a debit card. I feel very strongly about this as I personally know how credit card debt can start very small, but can quickly snowball (I had over 45K in credit card debt coming out of graduate school).?

Curtis Arnold, Founder of CardRatings.com

?You can check your credit report once per year for free at each of the three main reporting agencies.

This is a money-saving tip for 2 reasons: the credit reports are free; and checking your credit will ensure there are no mistakes that may cause you to get higher loan rates than you deserve (more $ saved in potential interest).

Caroline Ceniza-Levine is co-founder of SixFigureStart (www.sixfigurestart.com)

?Sales Trends run in categories in the supermarkets. This week may feature paper goods and deli products, and next week sales may be only on frozen foods and toiletries. Stockpiling properly will eliminate over-paying on categories that are not on sale in any given week. Categorical sales trends typically cycle through all product categories within a 12-week period, so stockpile more than you need while the price is right, purchasing enough to last until the next Rock Bottom Sale.

Shopping Days and 72-hour Sales - In most areas, the best days to shop are on Sunday, Monday, and Tuesday. Most markets' sales weeks begin on Wednesday and end on Tuesday. Since new coupons arrive with the current week's sales on Sunday, wait until then to shop. Also, from time to time, markets run special 72-hour sales, most often on Sunday through Tuesday. Please note, some grocery stores are changing their sales cycles.

Smaller Package Equals Better Value - Do the math. Most often when a smaller package and a larger package of the same name brand product are both on sale, the better deal is the smaller package, if you have a coupon.

Teri Gault, CEO & Founder of The Grocery Game

Health Insurance

?Get the best rate. Medical providers typically charge one rate to those without insurance, or who pay for services in cash, and a separate, "contracted" rate to insurers. Ask your medical provider for the best rate, whether it is the contracted rate or the office's best cash rate.


Obtain a Health Savings Account (HSA). A consumer must purchase high-deductible health plan (HDHP) insurance coverage, and then can fund HSAs up to the maximum allowed --typically $2,850 for an individual or $5,650 for a family. Earnings accumulate tax-free, and withdrawals are tax-free as long as they are used to pay for qualifying medical expenses. The tax-free benefit was devised to compensate for consumers' taking on a greater share of their health care expenses with HDHPs.?


Ethan Ewing, President of Bills.com

Cell Phone 



?Dialing 411 for directory assistance is like flushing $2 down the toilet every time you do it ? and it adds up. Instead, get any phone number you need for free by using 1-800-FREE-411. You'll listen to two short ads, but it's 100 percent free. 


Choose the Same Carrier as your boyfriend/girlfriend, family and friends: This one can get tricky if you are locked into a contract as it is difficult to break cell phone contracts without paying for it. But if your contract is up, however, why not choose the same carrier as your boyfriend, family and/or friends? Most cell phone companies these days are providing unlimited anytime minutes between users on the same network.


John Roswech, President of 1-800-FREE411

Budget-saving

?My tip is to set up an automatic debit to deposit $25-50 per month in a savings account that is harder to retrieve money from, like a bank that doesn't have a physical presence in your state or ING. You're essentially creating your own DRIP account, and since you are likely cash poor anyway, the extra money will mean eating in one night a week per month or bringing your lunch for a week instead of going out to lunch every day.?

Jeannie, Raleigh, NC

?I have created a budget for myself and put away my cards and only use my "BUDGET" Wallet. My wallet is a 7-pocket coupon file where I put allocated amounts of money into every two weeks, when I get paid. I have 4 areas of spending (created from my 2009 budget & way to get out of debt) Gas, Food, Entertainment, and Personal. I have two other slots that I have labeled Extra, for any left over money from the two weeks and Receipts. When the money runs out in my food money slot... then I know the money for those two weeks is gone or I have to take it from my entertainment slot and know that I might not be able to go to that movie or whatever I may have planned. It allows me to actually see the money and not just swipe my card.? 


Sabrina Cullen, Sarasota, Fl

?When I was recently out of college, I kept finding myself short of cash just before I got a paycheck, so I would charge gas, etc. What I started doing was taking all my single dollar bills and change and putting it into a jar at the end of the day. Then, when I was "out of money" and needed something like gas or food, I could go get money out of my jar and NOT charge anything.?


Barbara Sharpe, The Femme Fairy Godmother

Entertainment

?We all know that the library is a great place to get books for free but most do not realize that many libraries also have CDs and DVDs that you can check out. Instead of renting or buying many videos for my children, we visit our local library and check them out for free. You can also use the library to get passes to activities in your area. We have checked out a book that contained free passes to state parks. This enabled us to have a fun and, better yet, free family day.?

Danny Kofke, www.dannykofke.blogspot.com

?Find a niche publication tailored to your interests (theatre, water skiing, fine dining, automobiles) and write to the editor offering to write a review in exchange for tickets, a test drive, or a product demonstration. You may find yourself driving a new car for a week, getting great tickets to the ballet, or enjoying a nice evening out at a top restaurant ? all at no cost to you ? and with a byline for your resume. It's a great way to participate in fun, new experiences just outside of your entry-level salary (for now).?

Debra Yergen
Author, Real Life 101: Winning Secrets You Won't Find in Class (published by The Graduate Group, 1998)

?When buying a new TV, be willing to negotiate -- even if the item is already on sale. Virtually every Best Buy and Wal-Mart store will negotiate. Many shoppers walk into a Costco and buy whatever happens to be there, thinking that those are good prices. They may be, but they are just as often very average prices. A little online legwork can save you hundreds of dollars.?

Dan de Grandpre, CEO of dealnews.com

Payment Options

?Consider taking a gap year after college: Not all gap years cost money, some actually pay you! The year after I graduated from the University of Vermont, I signed up for a 10-month service term through Americorps. I worked with Habitat for Humanity building low-income housing in the Seattle area. So not only did I make great friends, I met my future husband, we gave a year of service, and experienced living in a completely new part of the country. The majority of my living expenses were taken care of by Americorps, I was given health insurance, my student loan was deferred, and I earned a $5000 education award to pay off a chunk of my student loans, in addition to a stipend. It was a great transition from college into the ?real world? and I would highly recommend it.?

Beth Hood
Author of Where's the Map? Create Your OWN Guide to Life After Graduation
www.wheresthemap.com

I am 49 and still paying for my college education--my masters degree. So my money saving tip is: if someone is willing to pay for your education take it. Get a job where one of the benefits is getting an education---Don't pay for it yourself. 


Leslie Jacobs, www.lesmess.com

?If you can't afford it, don't buy it.

Only buy on sale...and only if you need it.

Learn how to cook 'from scratch'. Store bought convenience foods and eating out are expensive.?

Lisa, Texas

Copyright (c) 2009 ChaChanna Simpson