205 Ways to Save Money ( 5 )

205 Ways to Save Money - This is an excerpt from my first book, Life or Debt. You won't be able to use every tip, but you'll definitely be able to use some!

Telephone Savings

1. Use the Internet! Email is free. Long distance calling isn’t (unless you also do that on the Internet!) The Internet is also a great free way to find numbers instead of using directory assistance. But if you are going to use directory assistance, your local one (411) is almost always cheaper than the national ones you see advertised on TV.
2. Stop leasing. You’ll usually save money by buying your own phones.
3. Hang up on frills. The phone company is a master at getting us to buy services. They sell your phone number to telemarketers, then sell you caller id to thwart them. In round two, they sell services that block caller id to telemarketers, then sell you a gadget that won’t allow blocked calls to ring through. Don’t play this ongoing game. Get the basic package, skip the frills and save yourself $100 or more per year.
4. Turn the tables on telemarketers. One of the most popular TV news stories I’ve ever done involves changing from victim to predator in the cold-calling jungle. Here’s how it works. Federal law requires that almost anyone who solicits you by phone give you their name and either address or phone number (which they virtually never do.) The law also requires that they call between the hours of 8 am and 9 pm. And if you ask to be put on their “do-not-call” list, nobody from that company is allowed to call you for ten years. Finally, they’re required to furnish you with their written “do-not-call” policy upon request. Now, here’s the cool part. Companies are allowed one mistake per year, then they are subject to a $500 fine per violation. So here’s what you do: keep a pad and pencil by the phone. When you’re cold-called, ask to be put on the “do-not-call” list, and ask for a copy of their written policy. Make a note of the date, time and person you talked to. If that company contacts you again, let them know you’re supposed to be on their “do-not-call” list. That was their one allowable mistake. If they call you again, get their address, because you’re about to make some money. Send a letter to the company threatening to sue them in your local small claims court for $500 per offense because the company is in violation of the Telephone Consumer Protection Act. More than likely the company will offer you a check ($250 to $300) to avoid the hassle of a court hearing that they’re going to lose. Believe it or not, informed Americans have already collected hundreds of thousands of dollars with this strategy (and no doubt had fun doing it!) That’s just the gist of what you need to know, however: to learn more, go to www.junkbusters.com. Sites like this can also help you reduce your junk mail.
5. Shop your long distance. Internet sites like www.trac.org and www.abelltolls.com can help you find the best long distance calling plan for your needs. If you don’t have Internet access, go to the library. Remember: part of your monthly phone bill goes to pay for library Internet access, so use it! Even if you aren’t willing to go to the hassle of finding the best long distance deals, at least call your current long distance provider and make sure you’re on the cheapest plan for your needs. Before you start shopping long distance, be sure and look at a few bills to see what your calling patterns are. Do you make most of your calls to one person? Mostly night and weekends? How long are your average calls? How much do you typically spend? This type of information is important to know before you can find the best overall plan for your family. And, just as with other services, don’t be afraid to ask for a discount. The way to do it is simply to say you’ve found a better deal elsewhere and ask your current company to match the rates. Don’t lie, however: they’re likely to verify the information.
6. Know the lingo. It’s hard to shop smart for something when you don’t know what questions to ask. In long-distance land, there are three major ones. First, “What is your cost per minute?” Second, “What is your billing increment?” Billing increment is crucial if you make lots of calls, and especially lots of short calls. Billing increments for the “big three,” AT&T, Sprint and MCI/WorldCom, are typically one minute. That means if you talk for one minute and one second, you get charged for two minutes. Other companies may have billing increments of only six seconds, which is obviously a better deal. Third question: “What fees will I pay?” Many of the larger companies charge a fixed monthly fee in addition to their rate-per-minute. Depending on what you’re spending, this seemingly small fee could radically change your cost-per-minute.
7. Don’t take their word for it. We tend to regard anything printed out by a computer as accurate, which is often far from the case. Look at your bills and make sure you’re actually paying the per-minute rate you were promised. Mistakes abound, and by some odd coincidence, they almost always seem to favor the company!
8. Don’t forget calling cards! If you travel, calling cards are important because they allow you to get the same rates from the road that you’re used to paying at home, at least theoretically. But the big three long distance carriers often have ridiculously high rates and fees for their cards. Before you enroll in any plan, be sure to ask about calling card rates. If the plan is otherwise perfect but the calling card rates seem too high, you can always buy low-cost pre-paid cards with rates as low as five cents a minute.
9. Save on cellular. Cellular phones are convenient, but they can really fracture family finances. If you keep one for emergencies, consider a much less expensive pager instead. If you really need cellular, understand what you need it for before you buy it. For example, why pay for an unlimited national calling plan if you rarely leave your state? If you don’t use all the minutes that come with your monthly plan, the cost of the minutes you do use skyrockets. So think about your needs before you sign a contract. And speaking of contracts, nowadays there are many plans that don’t require one. With rates and plans changing often, you’re a lot better off not being locked in.
10. Free cellular phones aren’t free. Normally you’re better off getting a cheaper plan and buying your own cellular phone. Plans that include “free” phones often also come with long contracts and higher monthly costs.

Education

1. Money for nothing. Billions of dollars of grants, scholarships, work-study programs and low cost loans are available every year. Don’t pay a company to find them for you, because there are places you can search for free. The Internet is a great resource for this. Websites to check out include www.fastweb.com and www.finaid.org, but there are many others. Just do a search for “college scholarships.” You can also get lots of helpful advice from any college admissions office.
2. FAFSA first. FAFSA stands for “free application for federal student aid,” and it’s basically a standardized form that will help you find out what kind and how much aid will be available to your student. Colleges and universities use it as a basis for the tuition packages they offer, and nearly every scholarship, work-study and other dispenser of student aid also uses it. Bottom line? If you’ve got a kid going to college, you’re going to need it, so fill it out as early as possible, especially since some grants are first come, first served. You can get the form from any college, or you can fill it out online www.fafsa.ed.gov.
3. Beat the local bushes too. You can look at all the scholarship search websites and library books in the world and still miss college cash. Why? Because the $300 scholarship offered by your local Rotary Club isn’t in there. Neither is the local Elks club $250 essay contest or any number of other awards local civic, cultural and religious groups may be offering in your neighborhood. Individually, the local stuff may look like small potatoes. But free money is free money: someone’s got to get it; might as well be your student!
4. Buy textbooks online, used or both. Used to be you were trapped paying outrageous prices to the monopoly known as the campus bookstore. Nowadays, thanks to the Internet, you can buy new and used textbooks online and save serious bucks. Do a search for “used text books.”

Around the House

1. Don’t buy drier softening sheets. Instead, mix up a spray bottle with half water and half fabric softener. Spray a washcloth with the mixture and toss it in the dryer.
2. Repaint in white. Painting is one of the few home improvements you can make that normally add more value to a home than it costs, assuming you do it yourself. White paint is usually cheaper, doesn’t fade, makes rooms look bigger and goes with more stuff.
3. Clean your own carpets. A carpet-cleaning machine is a great neighborhood co-op tool. Share the cost (maybe you can find one at a yard sale) with your neighbors and everybody on the block saves $100 a year or more in carpet cleaning costs.
4. Do it yourself. If you own a home, buy how-to books and stop calling repairmen for everything!
5. Charge it! Batteries that is. Reusable batteries cost more to buy, but can pay for themselves easily.
6. Buy yesterday’s technology. One of the fundamental ways to save money is to buy yesterday’s technology. A Pentium 366 computer may not play Solitaire at the speed of light, but it will probably be perfectly adequate for the tasks normal people use computers for. And it will cost a fraction of the price of the newest, fastest models. Buying the latest greatest gadget is an expensive hobby. The same concept applies with everything from cars to bicycles to coffee makers.
7. Stop being so darn clean! Americans can be obsessive when it comes to cleaning our clothes. Result? High dry-cleaning bills, high utility bills and high clothing bills. Nobody’s suggesting you should use body odor to cull your circle of friends, but the fact is that many items, especially the expensive-to-dry-clean-kind can often be worn more before we have them cleaned. Talk to a haberdasher and they’ll tell you that a quality men’s suit should be dry-cleaned as infrequently as possible for longer life. They’d rather see you brush them clean than exposing them to the trauma of a dry-cleaner.
8. Use inexpensive decorating techniques. Sometimes you just need to change the look of a room. A new tablecloth can transform a dining room, and you’ll probably find one at the Salvation Army for $5. Plants are great decorations that you can get free by exchanging clippings with your friends. A plywood circle sitting on a round trash can look good when you cover it with a nice tablecloth, and the base doubles as storage. Old wooden chairs and boxes look cool when they’re repainted in funky colors. Bottom line? When it comes to decorating, an ounce of imagination will replace a pound of shopping!
9. Freeze your scouring pads. They last longer that way.
10. Save a tree or two. Use a clean hand towel in the kitchen instead of always reaching for paper towels.
11. Plastic has a half-life of a million years. Wash and reuse plastic food storage bags.
12. Foiled again. Aluminum foil can often be reused.
13. Clean up on cleaners! You can often make your own cleaners that will save money and work just as well as their heavily advertised cousins. For example, combine ½ cup of ammonia, ½ cup vinegar and two tablespoons of cornstarch to a bucket of warm water and you’ll have a great window cleaner! And while you’re at it, use old newspaper to clean windows. Not only is it cheaper, it won’t streak. Baking soda does the same work as carpet deodorizer, scouring powder, and toilet bowl cleaner. It can even act as an antacid and a fire extinguisher. And how about vinegar? Combine it with salt, and it will clean your copper pots. It also polishes chrome, removes soap scum, and cleans your coffee maker. Cornstarch is more absorbent than talcum powder, and pure enough to use in place of baby powder. It can also clean carpet and remove grease stains. ( repost.us )