Approval

Non re-loadable prepaid cards have an almost 100% approval rate since some do not even require credit checks or personal information to be submitted. In addition, most re-loadable cards, which ask for personal information and social security numbers, also have high approval rates. However, not everyone is eligible for a bank account to get a debit card. Prepaid cards are the main option for anyone who is unable to have a bank account.

Overdraft

Debit cards are linked to a savings or checking’s account, which can incur overdrawn penalty fees by having over the limit purchases approved by the issuer. Banks can even charge multiple fees per each overdrawn transaction that happen in any given day. Furthermore, since the majority of prepaid cards only have access to their added funds, an overdraft risk doesn’t exist. For example, non-reloadable prepaid cards that have exhausted their value are useless for further purchases or services payment since there is no financial institution attached to them to approve a limit over such set card value.

Protection

The Federal Deposit Insurance Corporation insures debit cards against fraud, while only some re-loadable prepaid cards are covered. Non-reloadable prepaid cards have very limited or no coverage.  Meanwhile, debit cards have several security methods not accessible to prepaid cards. For instance, debit cards have various protections based on the issuer like photo security in the form of the card’s holder picture on the card, online protection where others are prevented to place online purchases, fraud monitoring, and fraud alerts via email, phone, or text message as desired.

Convenience

Debit cards can be personalized with a favorite logo such as a professional organization, charity, sports team, or school based on the issuing financial institution, amongst others.  Prepaid cards do not have the option to be personalized.

Rewards

Debit cards offer many rewards while prepaid cards have little or none at all. For example, debit card rewards include discounts on car rentals, hotel bookings, airline travel, gifts certificates, and cash backs to name a few. Check all rewards and conditions of the debit card benefits to take full advantage of them.

This article is provided courtesy of Bad Credit Loans Direct, a consumer finance website providing information and resources on easy loans for bad credit and other personal credit services.

1. Pay Your Current Credit Cards Off

I’m sure this one sounds like a no-brainer but might feel like an impossible feat for you, which is why you haven’t done it yet. I’ve found that a really helpful tool, and perhaps the key to helping you stay on top of this, is to keep a monthly budget. I use a simple Excel spreadsheet to track my monthly earnings and spending, but there are multiple free online tools you can utilize as well. The important thing is to see where you’re spending too much, how much you’re saving, and which expenses you can cut out completely. By keeping track of your finances this way, you’ll be able to set goals for yourself each week or each month to consciously save money to put towards your credit card debt.

2. Once it’s Paid Down, Keep Using It!

If you don’t have a credit card, getting—and using—one can really boost your credit score. In fact, folks who have never had a credit card can run into the problem of not having any credit, which is almost as bad as having no credit. Lenders are hesitant to loan money to someone if they don’t know how their track record as a borrower is. And if you do have a credit card that you just paid off, don’t cut it up and swear it off altogether. Many people think that you need a zero balance on your cards for lenders to be impressed, but that’s just not true. What lenders are looking for is a big old gap between your credit limit, an how much you’re actually spending. Generally speaking, the bigger the gap the better. But make sure you’re spending lightly; use it, don’t abuse it. Aim to spend between 10-30% of your available limit each month, or even a lower number if you need to, just make sure that you pay it off full each month.

3. Look into a Secured Credit Card

This is mainly for folks who have been turned down when they’ve applied for general credit cards in the past, or for people who don’t have a credit history at all. As I mentioned before, lenders are reluctant to give a credit card to someone with a poor credit history, or no history. With a secured credit card though, credit card holder makes a deposit to the bank, and the bank will give that person a credit line for the amount deposited. Think of it as collateral. Instead of a good credit history, you’re giving the bank money in return for using a credit line. The only downside is that there are usually fees associated with secured credit cards, but it’s still a great way to build or rebuild credit.

4. Dust off an Old Card and Go Shopping

The fact is that the older your credit history goes back, the better. It shows that you are an established borrower. But if you don’t use one or more of your credit cards for a long enough period of time, it can be closed by the issuer or will stop being updated to the credit bureaus, which doesn’t do you any good. Craig Watts who works at Fair Isaac, the creators of the FICO score, said that your old accounts may still appear on your credit report, but they won’t be given as much weight in the credit-scoring formula as your more current, active accounts. So dust off an old card, buy a few small, routine things every month (hint, not extra things—you’re trying to improve your score, not increase your debt! This is not an excuse to go on a shopping spree) and make sure to pay it off.

5. Request a Higher Limit

As I mentioned earlier, the bigger the difference between your available spending limit and how much you’re actually charging to the credit card, the better it looks for you. Lenders want to see you using far less than they’ve authorized you to spend. So, if you’ve been a good customer, you could request a higher credit card limit. By increasing your limit, but not your spending, that gap automatically becomes wider and can give your credit score a serious boost. If you have quite a bit of debt, this one might be tricky, but it certainly never hurts to ask. Naturally, the lower your debt, the more inclined banks are to honor this request.

Citations:

• Debt Word Cloud Courtesy of Vectorportal
• Jean Chatsky Fico Score Builder by jeanxtof

Dk is an active blogger and loves to write about all topics related to finance. His personal blog is RoadFish.com if you liked what you saw here!

However at the same time there are other factors that affect how well you live and how well off you feel – and these largely come down to how much money you are spending on your other things. In short if your outgoings greatly exceed your income then you aren’t going to be financially very strong – but there are ways you can greatly reduce your outgoings without making any drastic changes to your lifestyle and it’s very possible to become what some of us would think of as being ‘rich’ simply by changing the way that you spend your cash on a daily basis. What it all boils down to is your psychology and the way you think about money. Here are some quick ways you can change that for the better.

Stop Collecting

If you are trying to save yourself money, then one of the worst things to do is to become a collector. If you currently have five thousand DVDs in your collection, or a hundred CDs, then you really don’t need all of these – you can listen to them all on your computer now anyway.

Again this is a matter of psychology and it’s simple to change the way you think – instead of trying to collect lots of DVDs, models, or classic car replicas, instead focus on quality. The thing is that by focussing on quality instead of quantity, your collection will actually be more impressive anyway – because the good items will stand out more and each of those items will say more about you and your interests.

There are so many things you can rent and download which will save you money and space when it comes to media in particular. Start doing this and just learn to let go of the need to ‘own’ and you should find yourself starting to change the way you think.

Stop Impulse Buying

The majority of purchases we make when they are of anything that isn’t practical are emotional. These aren’t logical decisions that we want something, rather they are emotional decisions we make on the spot that we ‘must’ have something. This is influenced by many factors, many of which are manipulated by the shop owner or the company trying to sell the items. The thing is that they know precisely what factors to introduce to make you buy their products – things like adding a perceived time limit on them, or by making them exclusive, or by making you feel rushed or obligated.

The solution is first to recognize these strategies that are being used against you, and then to overcome them by never buying something you’ve just seen. Instead – write it down so you have made a note that you want this item, then go home, and then think about it. If you still want it then you should set out especially to get it in a couple of days. Try to avoid ever buying things you haven’t specifically set out to buy that day.

One in, One Out

This is something else that you should look into and a great way to help you moderate your impulse purchases. Simply make the rule that you have to get rid of one item whenever you buy one other item. This way you have to think twice before buying anything new – and you’ll make some of the money back when possible.

Look for Cheaper Options

Whatever you are buying you can probably get essentially the same thing more cheaply if you know how. If you’re buying food from a supermarket for instance, then look into buying an ‘own range’ which most supermarkets offer. Likewise if you are going to the cinema, or for a day out, or for a meal, then look online for vouchers and offers. Likewise most clothes you can buy cheap versions of which will look the exact same as the most expensive versions. Learn to identify where you really get extra quality and value by spending more, and where you can make do with a much cheaper option – and don’t buy for the sake of reputation or status as you’ll end up with much less status when you have no money left in the bank.

Debbie Phillips is a writer and blogger, she believes in the mantra that money saved is money earnt and uses sites like FreeStuffAndSamples.com and TheCouponCupboard.com to save money on purchases.

The FTC (Federal Trade Commission), America’s consumer protection entity, prohibits any debt collector from using unfair, abusive, or deceptive acts to collect money by enforcing the FDCPA (Fair Debt Collection Practices Act).

The FDCPA states that anyone in the business of collecting debts owed to someone else is a debt collector. This includes companies that purchase delinquent debts to possibly collect later, lawyers who regularly collect debts, and collection agencies. Here are some of the consumer’s rights for fair debt collection.

Act Coverage

The Fair Debt Act covers household, personal, and family debts, including money owed on auto loans, mortgages, credit cards, and medical bills. Debts that occurred while running a business are not covered.

Contact Guidelines

Debt collectors must not contact anyone at inconvenient places or times, like after 9 pm or before 8 am, unless authorized by the person previously.  If a collector is told either in writing or orally that personal calls are not allowed at work, they should follow suit.

Furthermore, if a letter is sent to the collector requesting debt verification or claiming that no money is owed, said collector has to stop contact. To do this, send a letter within 30 days upon receipt of the validation notice to the debt agency. However, collectors can continue contact if written debt proof is sent, such as a bill copy of the owed amount.

Moreover, a debt collector may not oppress, harass, or abuse the contact. For instance, no collector can use profane or obscene language, make threats of harm or violence, or publish a compilation of names of those who refuse to make payments on their debts. In addition, collectors cannot make false statements while attempting to collect debts like claim to be government representatives or that a crime has been committed, and misrepresent the owed amount, amongst others.

Debt collectors are prohibited to say any of the following:

1. An arrest will occur if no payment is made on the debt.
2. Debtors’ wages or property will be seized, attach, sold, or garnished unless the collector is allowed by law to take such action.
3. Legal action will occur, if there’s no intention to do so or is illegal.

Report any debt collectors issue to the Federal Trade Commission and the respective state Attorney General’s office. Certain states have debt collection laws that differ from the federal FDCPA. To know more about debt collection, visit the FTC’s website.

This article is provided courtesy of Bad Credit Loans Direct, a consumer finance website providing information and resources on personal loans with bad credit  and other personal credit services.

Understand What Went Wrong

Begin by looking closely at your situation and how you got there. Bankruptcy may feel like the end, but actually it can be a way of acknowledging that your attitude to money and credit needs to change. It might benefit you to get some help from the professionals, such as credit counselors, who can help you look at how you deal with money as well as the emotions behind it.

The Future

The next step is to think about the future. Starting completely from scratch can be a scary thought but knowing what you want to achieve and how you are going to get there can make you feel more in control of your money. For example, if you really want to own your own property in the future you will need to build your credit rating in the right way, limiting your use of credit and avoiding any unnecessary debt.

Get Familiar with Your Credit Report

You are entitled by law to have access to your credit rating once a year, so take advantage of this. Make sure you get a copy of the report each year and go over it carefully to see how you are doing. Also check closely for any errors that might be affecting your credit score and if there are any then make sure they are removed quickly.

Learn How Credit Scores Work

Your credit score is essentially a number, usually between 300 and 850 and it can be affected by many things, such as continuous borrowing or late payments. Make sure you avoid the things that decrease your score and work towards the actions that will boost it instead.

Once you have the inside knowledge on credit scores you can start to work towards making yours better. Paying your bills on time makes up a big part of it, so organise your monthly budget so that important payments are always made on time. Also, avoid opening and closing credit accounts on a regular basis as this can look to lenders as if you aren’t good at managing your finances. Be selective about credit and keep up to date with payments to raise your score. Consider taking out a secured credit card, which means putting up a small amount of collateral in advance. Making payments on time will gain you more trust from your lender and hopefully raise your credit limit, which will in turn raise your credit score.

Be realistic, as building your credit score will take time but as you get more financially secure and make positive decisions about money and credit, you will find yourself in a good financial position once again.

Francesca is a contributing writer for IVA Expert.

It sometimes seems that it is impossible to afford the additional expense of insurance on top of the cost of a vehicle and fuel. However, insurance is not an option in most states and is a wonderful form of protection in those in which it is not required, especially for an inexperienced driver. By using the following techniques, parents can get some great deals on car insurance without sacrificing on quality:

Shop for Bargains

Just as some people find quality clothing at thrift shops for a fraction of the price, knowledgeable consumers can get some good deals on automobile insurance if they know how to go about it. The following tips will help you get the best prices available for a policy with a teenage driver:

• Use the internet to comparison shop and locate the most reasonable prices, but be careful to compare apples to apples when it comes to the details of the policy.
• Once you have quotes from top companies in hand, go back and see if any of the others will give you a lower price to get your business. It never hurts to try!
• Contact a representative of the company who holds most of your other insurance policies to see if they can give you a better deal by bundling some policies.
• If the family has more than one vehicle, ask each insurer if your teen driver can be listed on the vehicle that is the least costly or the safer model.
• Raise the deductible by as much as your family emergency fund can handle.

Use Your Child’s Performance as a Bargaining Chip

Getting car insurance is one of the first times that past performance can make a difference, and parents should let their children know this as soon as they are able to understand. Some insurance companies reward a show of responsibility by offering extra discounts for the following:

• Being an honor roll student
• Taking a driver’s education class
• Having excellent attendance
• Using a monitoring device on the car to prove that they are driving responsibly

By helping their teenagers behave responsibly before they reach driving age, parents are also helping them establish a history that can lower their insurance premiums in the future. With proof of these good behaviors in hand, parents are often able to locate affordable insurance easier than they might have expected.

Jane Simpson believes it’s possible to find affordable insurance for a teen driver with some careful research and planning. She writes for a website that offers a useful auto finance calculator to help parents work out the cost of buying a car for their teen.

Banks are by far the most popular choice in financial institutions. They are typically run by a group of investors. Since investors fund the bank’s operation with their own money, the primary interest of a bank is to create a return on this investment–to make money for the group. This is evident in the tendency for banks to charge exorbitant fees for their account holders, including penalty and monthly maintenance fees simply for having an account. The decision-making process for the operations of banks is conducted by the investors and is usually designed only with profit in mind. Typically, no voice is given to individual account holders during policy making.

By contrast, credit unions are member-driven, nonprofit entities that serve specific groups or neighborhoods. Each account holder pays a membership fee that directly funds the operations of the credit union. A credit union employs a democratic method of decision-making, with an elected board of directors that handles all policy making within the company. Account holders at credit unions are treated as an asset to the institution, but banks may treat their customers as account numbers by which to generate money. Penalty fees may be enforced at a credit union, but they are typically much lower in cost than those of banks, because these institutions are not profit-driven. There is no maintenance fee for a credit union account.

Both banks and credit unions are safe, secure locations to store and save money. Both offer savings and checking accounts, and many credit unions offer bank amenities such as mortgages, auto and small business loans and credit cards. Credit union members enjoy high interest rates on savings accounts and low interest rates on loans, but the drawback is that very few credit unions have nationwide access.

With their broad scope, banks make banking on the go much easier for those who travel outside of their hometown. Many people opt to hold savings and loan accounts with credit unions while using a traditional bank for their checking accounts. This combination allows the high-interest savings and the discount loan rates of credit unions along with the nationwide access of banks, giving consumers who choose this option the best of both institutions.

Sara Woods of debtmanagement.org.uk, is the author of this article, where you can find all the help and support you need to manage your debt and personal finances.

Therefore, think about your life and where these five events fit in, to help you prepare yourself to make the most of them when they come along for you, whenever that may be.

1 – The big trip

Most of us have got at least one big trip in us, others hope for many more. Regardless of your travel plans for the future and your nomadic nature, the first big trip is likely to be the hardest one to save for. Whether you’ve gotten up the courage to take a big world trip when you finish school or university, or you’ve waited a little longer until you’ve got a ‘proper’ job, here are some tips to help you save up:

• Know how much you need to save and how long you need to save for. Saving up for a big trip isn’t just about having enough money for entrance into the tourist attractions, you’ll also need to make sure you can cover your expenses back home too. Therefore, set yourself a plan, knowing how much you need to save in total, and what that means each month.
• Be disciplined. Saving up for a big world trip requires a lot of money, and then a little bit more just in case, therefore, you need to be disciplined with your spending and your saving. If you can’t resist buying those new shoes that aren’t in your budget, then you’re not really committed to saving for your trip are you? To help with your discipline, don’t go into your favourite stores to start with. Window shopping may seem perfectly innocent but the temptation cam quickly become too much. Instead, distract yourself by doing something else – read a book, or go for a walk, and not a walk down the mall.
• Earn more money if you have to. If you have your heart set on a certain travel date and just not enough opportunity to save enough money, look at what else you can be doing to meet that financial goal. Plan out your spending each month and look at where you may need to fatten up your savings account with extra hours at work, or a part time job.
• Second hand. The desire for new things doesn’t just disappear because you can’t afford them, and there are some valuable purchases you can make, for example books to read up on your destinations or expand your mind, or DVDs of a TV series to watch at home and save on nights out. Therefore, join a library or start a book swap with a group of friends. You can apply the same principle to DVDs, or even clothes. You can even make an event out of the swap and get a group of friends together for dinner and a night of DVDs at your place, and then go to their place next time. You can still catch up with your friends but it doesn’t run up a big bar tab.
• Make your own lunch. This is a common piece of advice, simply because it is true – you’ll save thousands of dollars a year by making your own lunch at home and avoiding the cafes and food courts in your lunch break – plus you’ll actually have time to relax and enjoy the break in your day.

2 – First house

Buying your first house is a monumental step into adulthood, and can be a very confronting and scary time. However, what can be even more confronting is if the purchase of your dream house consistently falls through, and even more – if you find out down the track that you can no longer afford your home. Instead, to save for your first home make sure you:

• Provide a healthy deposit. The bigger the deposit you can make to your home loan, the smaller your borrowing amount will be, and the lower your repayments will be. You are also reducing the risk to the lender because they are lending you less of the property’s value, so you are more likely to be approved quickly, which can overcome common hurdles for first home buyers.

• Account for 5% in costs. Most home loans will require at least a 5% deposit, but the deposit isn’t the only cost you have to worry about. On top of the deposit you will also need to pay stamp duty, conveyance fees, loan application fees, inspection costs and legal fees and you should allow around 5% of the property’s value to cover these fees. This means you need 5% for your fees, 5% for your deposit plus however much you can afford to put in as an added deposit to reduce your borrowings.
• Save your loan amount. Once you have a rough idea of where you want to live and how much it’s going to cost, you can put the numbers into your budget but you’ll never really know if the budget works until you put it into practice. Therefore, before risking stretching your budget on your real home loan, as you save up for your first house, set up a direct transfer from your wages into a savings account of the amount which would be your home loan repayment. In this way you are saving regularly, and you are also adjusting your spending a though you were already repaying your home, to make sure you really can afford it.
• Pay off other debts. Other debts such as credit cards and personal loans can be detrimental to your home loan eligibility. Therefore, as you save for your first home also work on getting your debts under control. This may involve a balance transfer, remembering that this counts as a credit card application and will appear on your credit report, so make sure you will be approved. Repaying your debts will not only increase your borrowing power, but also free up your cash flow.
• Look for a dedicated first home savings account. It is a government initiative in Australia for example, where anyone saving for their first home can open a fee free, tax effective savings account to help them save for their deposit, where the government also matches contributions to a certain amount. The accounts may differ between countries and financial institutions, but many governments are implementing ways to stimulate the local housing market, so make sure you take advantage of the help you’re eligible for.

3 – Wedding

Your wedding requires so much saving and preparation, which ultimately comes down to just one day, and it is important to remember this to keep your wedding spending in perspective. While there is no doubt you want your wedding day to be the most special day of your life and a celebration of the wonderful marriage which is to come, and the amazing relationship which has gotten you to this point, you also want the marriage on the other side to be a happy and healthy one, emotionally and financially.

Therefore, to help make sure you save and spend wisely for your wedding day, remember:

• Gather all the information. The wedding industry is a big and lucrative one and it will take you some time to review all of the information and options available to style your special day. Luckily this gives you plenty of time to save for the big day too.
• Make regular contributions. Even if you can only set aside $20 a week, it will quickly add up – that’s $80 a month and almost $1,000 a year which can go a long way to paying for the wedding bills which are your responsibility.
• Save specifically. Rather than simply opening a savings account and labelling it ‘Wedding Savings’ look for an online high interest account which allows you to create sub accounts. You can then save for specific parts of your wedding day such as ‘Flowers’ or ‘Photographer’. These will be smaller and more easily attainable targets, and this will help to keep you motivated.
• Set a realistic budget. Technically you could save up for the next five years to have a wedding which will blow all of your guests away, but at some point you need to strike a balance between what you want and what is affordable and realistic. Plus, if you are forcing yourself to set aside too much money each and every week, you’re quickly going to want to rebel against your savings regime and you risk the idea of eloping becoming more popular, when all you want is a fun day surrounded by your friends and family.
• Be flexible. Remember to keep your wedding planning and saving fluid. If you find that the dress you’ve always dreamed of is $1,000 more than you budgeted for, can you do your invitations yourself, or cater your own engagement party?
• Joint savings. You and your spouse will have merged your lives soon enough once the rings are exchanged, but planning the wedding is also something you should do together. Therefore, open a wedding savings account in both your names and make sure you both contribute. It may not be entirely traditional, but it will ensure your wedding is planned your way.

4 – Children

Children are without a doubt an expensive event in anyone’s life, but don’t let that stop you from planning for a family. Remember that there is likely to never be a perfect time to start a family and if you worry too much about the costs then you are going to keep putting it off, and before you know it you will have missed your chance. Therefore, if having children is something you think you want to do in your life, make the following preparations and then let nature take care of the rest:

• Upgrade your health insurance. Many people will have a young couples cover, which will not cover any costs incurred for childbirth. Many health insurance policies also require you to have coverage 12 months before you fall pregnant for you and the baby to be eligible to claim for the health care costs of your pregnancy.
• Rough up your budget. A baby is going to shake up every area of your life and your finances are just one of them. To prepare yourself, take a stroll down the baby aisle at the supermarket this week, instead of sailing past it again. Look at the costs of nappies, creams, powders and food and work out how much you would be adding to your grocery bill each week if you really did have to stop in this aisle. When you get home, create a new budget with your estimated baby costs included and start a direct deposit for that amount from your income and put it into a dedicated savings account.
• Save any extra money. If you receive money back on your tax return, you have a little lottery win or you receive cash as a birthday or Christmas gift, put that into your baby savings account too. Also look for other ways you can bring in extra income, for example selling things on eBay or taking them to an op shop – after all, you’re going to need to make space in your home for another family member.
• Work out your maternity benefits. Research your workplace’s maternity leave and pay policy so you know how much money you will still have coming in when you’re not working. This will help you determine the gap between your savings, your income and the amount you need for your regular expenses as well as the additional costs of a baby.
• Become a one salary family early on. When you start considering having a baby it can be a good idea to try living on one salary. Deposit the entire second salary into a high interest savings account and see how much you can cut back on your luxuries to live on just one person’s income. This will give you an idea of where adjustments can be made, as well as give your savings a healthy boost.

5 – Retirement

Retirement should be the last major financial hurdle you have to clear, and luckily you don’t have to wait until you retire to tackle it. In fact, the earlier you plan for your retirement, the better off you will be thanks to long term investments and compounding interest. The first thing to do when saving for your retirement is to work out what you’re saving for. What sort of retiree will you be? Do you want to travel the world, or just travel around the country in a motor home? Do you have a lot of grandchildren who will need to be spoilt or will your retirement be spent spoiling yourself and your partner?

Retirement can be an easy and relaxing time, but only if you plan your finances in advance. The bills don’t stop just because you stop working, and nor do the prices stay fixed. It is estimated that you will need around 70% of your pre-retirement income to maintain your standard of living when you retire. This is assuming your house is repaid and you can save on travel and work related costs. At the same time, you will probably be adding in costs such as new hobbies or traveling adventures.

As with any other savings goal, it is important to start early and save regularly. With your retirement it is especially important because your greatest asset now is your earning capacity, and once you’re retired you can’t go back and tell yourself to pack a lunch from home, or put those new shoes back on the shelf. Where you keep your retirement savings is also important, because you want to make sure your investment is safe and that it is growing at a rate which will keep up with inflation costs as the cost of living increases.

Most employer or government retirement funds will have incentives such as tax breaks and contribution matching to encourage you to contribute to your retirement fund. Therefore, find out about the benefits which you are eligible for and make sure you take full advantage. It is also important that you don’t withdraw from your retirement savings before you retire as you are not only jeopardizing your investment, but you can also be subject to fees and interest penalties.

Retirement is a milestone event in your life, and one which you have the greatest control over. Therefore, take that control and make it work for you, so that the hard work and savings you’ve put into the rest of your life have been leading up to a rewarding and relaxing retirement.

Alban is a personal finance expert. He has been writing hundreds of articles on prominent financial blogs. When he is not blogging, he reviews loans at Personal Loan Finder

Coffee Machine

One of the most common budgeting bugbears is coffee.  Those coffee drinkers that can’t live without their daily takeaway coffee might be living without extra money.  Even those that buy a cup of coffee a couple times a week are missing out on savings. Consider an investment in a coffee machine.  There are some high-end machines on the market that can deliver a cup of coffee (or espresso, or tea, hot chocolate…) and may also deliver some impressive savings compared to your regular spend in coffee shops. After the initial investment, you’re looking at a staggering discount on every cup of coffee.

Sports Package

Sports lovers are often in a tough situation when it comes to their budget.  You want to watch your favorite teams play, but the nationally-televised games only cover a small portion of the league.  What should you do?  Some choose the following options:

• Go out to your local bar or pub to watch the game.  Yet, how much will you spend per visit for some drinks?  Will you pay for overpriced food while you’re there for a few hours, enjoying the game?
• Buy live sports tickets.  You know the story here, especially for high-priced professional games.  Add in parking and transportation costs, and you have a budget-breaker that no car insurance comparison can make up for, once you see some local games.
• Many cable and satellite providers offer another option – a sports package.  For a one-time fee, you can get unlimited access to games around the league.  Within the comfort of your own home, and hopefully in High Definition (HD), you may save money compared to the expense of enjoying sports viewing away from home.

Video Games and Board Games

An article I recently read in the New York Times analyzes entertainment options on a price-per-minute basis.  For instance, it lists the opera as one of the worst offenders in terms of value for time.  A video game?  Despite the initial price of purchase, these are much better in their average cost-per-minute. Try looking at your entertainment expenses in this way.  Streaming movie services, video games and board games keep proving their value every time you use them.  In other words, they aren’t expended purchases – they will last for some time.

Blender

What do you like to drink?  Cocktails, smoothies, milkshakes, and more, they’re all nice – and they can be expensive when you purchase them while you’re out in the town.  Just like the restaurant or bar, though, you can make them with a blender from fresh ingredients. Sure, it might take some trial-and-error to get them just the way you like.  But that can be part of the fun.  After buying a blender, the ingredients, and perhaps a recipe book, you could be on your way to great savings.  Replacing high-cost drinks with what you make at home could be a great way to boost your budget.

Who knows; maybe it’ll do wonders for your diet with some healthy fruit juices you can make.  You could save more money by using it for a party that you host.  The possibilities are endless when you switch a few little luxuries for frugal ones!

Citations:

• Image credit

This article is provided by Brian Neese, who shares tips on how to compare car insurance and check out private health insurance quotes.

Of course, taking up a second job or participating in medical research studies is an option, but many people do not feel they need to take such serious measures. For these people, the ideal option is probably saving money on everyday things.

There are several ways to do this.

Lose Excessive Technology

One way to save money is to lose excessive technological things that may be costing you more than you think. For one example, if you have a land-line, you could probably benefit from switching completely to a mobile phone. And if you get quite a bit of use out of your phone, you might consider trying Line2, a program that allows you to have a second line on your cell phone and make calls and send text messages over Wi-Fi. This can save you cell phone minutes and eliminates the need for a second work cell phone.

Also, if you currently pay for cable or satellite TV, you might consider discontinuing those payments. “TV money” can add up fast, and there are some very entertaining shows on many local, free television networks. Also, it is a good idea to unplug cords to appliances you are not currently using, such as chargers. These still use electricity when they are not charging a phone or computer, costing you money.

Cut Out Coupons

Another simple thing to do to save money is cutting out coupons. Many people do not cut out coupons because it can be time consuming, but when you really need to save money, coupons can be the perfect solution. Also, sometimes you can save money by grocery shopping at several stores. Once again, this can be time consuming; however, different stores might have sales on different things at different times. If there are a few grocery stores that you pass on a regular basis, it might be worth your while to stop in and check out the prices of things you buy.

Buy in Bulk

One more way that many people are saving money is by buying regular things in large quantities. Many stores, such as Sam’s Club, allow shoppers to buy large stocks of groceries at once to spend less per item than when bought in smaller amounts. This can also decrease the number of trips you take to the grocery store, saving you money in gas. Or, if you would rather eliminate grocery store trips altogether, many people are doing all of their shopping online, including their regular groceries. This has become increasingly easy and efficient and can save you time and money.

Everyone could use a little more money these days. Before looking for a second job or selling plasma, you should try to save money you are already spending. After all, as Benjamin Franklin once said, “A penny saved is a penny earned.”

Jessy is the finance writer for Life Insurance Finder, the free money-saving tool to compare life insurance online.

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