Dr. Phil Episode "Saving Money, Tips And Tricks"

At the moment I'm watching a recorded episode of Dr. Phil, about money saving tips and tricks, featuring the Economides family. I'm busy typing a list of pointers that they offer for saving money, and as I'm doing so, can't help but keep score on our family (yikes ;)

Here goes:

Stock up during sales - I do this sometimes, but need to be more consistent.

Buy food in bulk and freeze (vacuum seal meat to prevent freezer burn) - we do this! We have a Food Saver vacuum sealer, which we use all the time (btw it works extremely well).

Buy at thrift stores - I do this sometimes. There are certain things I won't buy used (such as undergarments or shoes), but 80% of my kids' clothes are used, and as I sit here typing this, I'm wearing thrift store jeans.

Don't buy big - DING! Guilty. Have to work on this with DH, although he's not entirely to blame ;)

Avoid debt - we're trying hard on this one, but until we budget and learn to not spend more than we make, this will continue to be a challenge.

Live below your means - this one is tricky. I think DH and I are both a bit in denial about how things add up.

Use creativity instead of credit - hmmmm.... sounds interesting!

Embrace a thrifty lifestyle - I confess I do enjoy cutting coupons, comparing prices and looking for deals. Not all aspects of being thrifty are painful.

Shop with a list - we're good at this one :)

Plan menus ahead of time - I've done this in the past, but honestly I haven't noticed that it really made a difference. I guess it would depend on the type of meals that each family eats.

Use coupons - I'm good about this one! I even combine coupons with sales for even greater savings (patting myself on the back ;)

Buy bread from bakery outlets - we have a McGavin's bread basket close by, and it's amazing how much cheaper their bread is.

Shop in more than one store - we do this too - we have several stores that we choose from, and create custom lists for each.

Eat leftovers - DH takes leftovers for lunch to work :)

Don't buy what you don't need - this is one we have trouble with :(

Put a jacket on water heater to insulate - I think I'm going to look into this one, although our water heater is new and more energy efficient already.

Close heat vents in rooms not being used - LOL our house really isn't big enough for this to apply...

Bring in competitor flyers and many stores will match prices - I've never had the nerve to try this one - I think I just might.

As I type this, I'm thinking hmmm, instead of blogging, I should be clipping some coupons ;)

'Bye for now!




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4 Ways To Save On Auto Insurance

We're doing #1, which is what inspired this post:

1) Raise your insurance deductible. We're lucky in that DH is one of the best drivers I've ever known and never seems to need the insurance coverage we pay dearly for. (Knocking on wood now, hoping I haven't jinxed him).

2) Install anti-theft devices. We have a car alarm (I'm assuming this qualifies). Not sure about a snarling Pitbull in the back seat - you'd have to check with your auto insurance company.

3) If your car is older and would cost less than your yearly premium to replace (ack), consider waiving some of your benefits, such as collision or comprehensive.

4) Last but not least, maintain a good driving record - this can qualify you for all kinds of discounts (reducing your insurance from through the roof unaffordable to simply expensive).

(sigh)

Happy driving everyone!

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Being Green Pays Off In Hydro And Gas Savings

Ha! So it is worth wearing an extra sweater and weaning myself off my old "light junkie" habits ;-)

I wonder if it makes any difference some days, when I can't seem to get warm, and I can't summon the energy to get up off the couch to turn off the bathroom light left on by one of the kids, but then... our bills arrive, bringing with them renewed inspiration.

First, let's look at hydro. (This would be me chasing after the kids, sending them back to their rooms to turn lights off. "Who's watching that TV? No one? OK can we turn it off please?") Turn off, unplug, turn off, unplug... you get the picture.

This month is the third month in a row that we've had a credit balance on our bill, and we'll probably get one more credit month as well. This of course is pre-paid hydro from being on the equal payment plan, and ideally the money could be in our bank account earning interest, but the fact that our credit this year equals about four months is evidence of our decreased consumption.

Confirming this is the "Daily Average Comparison" featured on the bill, which reads as follows:

Jan 2008 58 kWh
Jan 2009 30 kWh

This year we are using just slightly more than half of the hydro we used last year, all from unplugging things while not in use, and turning off unnecessary lights.

Next let's look at gas, which we use for heating and cooking.

We recently installed new windows, and I think they are the main reason that our gas consumption is less. I do try and use the toaster oven when I can instead of the gas oven, and I've been hanging most of our clothes to dry as well. According to our bill, the weather has been colder this January than last, and yet our gas usage has been less:

Jan 2008 Average daily temp: 4C; Average daily gas usage: 0.52 GJ
Jan 2009 Average daily temp: 0C; Average daily gas usage: 0.37 GJ

Our monthly installment payment has gone down from $147.00 to $127.00.

You wonder (at least I did) when you turn off that extra light or turn the heat down that half degree if it really makes any difference. Apparently so!

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5 More Things To Try Using Less Of

Here's a continuation of a previous post called "10 Things To Try Using Less Of". I was browsing through older posts and thought "hmmm, what else can I cut back on?"

1) Peanut butter - my kids love this on everything. I usually just slather it on, but I really could get away with using less.

2) Condiments - I can try putting less ketchup, etc., on my kids' plates, and only add more if they finish what they have.

3) Potatoes - we have a bad habit in our household of peeling too many potatoes when we make them mashed. We usually end up putting the pot on the floor so the dog can lick up the leftovers (but hey, do we save in dog food? ;-) I'm going to start using fewer potatoes from now on.

4) Toothpaste - you really only need a small dab, if you are brushing correctly and flossing as well. I need to supervise my kids more to make sure they're not squeezing out big globs of the stuff!

5) Bread - here's one I do already, but I thought it was worth mentioning. If I make full sized sandwiches for my kids (i.e. two slices each), I usually end up feeding leftovers to the dog. I've started limiting them to one slice per day, and now they finish what they're given, as well as eat more specifically nutrient dense foods (such as apples) because they're not over filled with bread.

There you go - more saving ideas to try. (As long as I don't make myself cut back on laptop power usage, I should be fine ;-)
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Weekly Mortgage Payments

We're switching our mortgage from bi-weekly payments to weekly. Although this doesn't result in as much interest savings as shortening the amortization period would, it still helps by reducing more quickly the balance of the loan that the interest is calculated on.

I've heard that there are even daily mortgages available - interesting!! I'm skeptical that our bank would offer this, but I'm going to ask. I'll let you know what I find out...
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Saving Money On Christmas Cards

This falls under the category of "buy off season".

I just got out of storage my box of blank Christmas cards, to find two boxes of beautiful, new gold foil embellished cards, bought at half price a day or two after Christmas last year (regularly $16 per box, marked down to $8).

I'll use these ones this year, and you guessed it... buy more a day or two after Christmas this year...
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Photo Calendar Sale

I usually order photo calendars every year as Christmas gifts, and the best price I've found so far was $14.99 each.

Until this year that is: Staples Copy and Print is having a "buy one get one free" sale. That means their highest price calendar, the "deluxe", which is regularly $20, is now $10 (if you buy two of course). This promotion ends November 28th.

The net results of that is this year I was able to get one MORE calendar than I got last year, at HALF the price that I paid last year.

Works for me!
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Saving Money On Cat Litter

We ran out one day, so as a temporary measure I lined the box with newspaper (we get four free local papers and TONS of fliers every week).

I haven't looked back. I would never have tried it in the first place because I thought that cats need to bury their waste, so why would they use the newspaper? They still try to bury it (my cat is forever pawing at the newsprint, wondering why it won't cover her, um, deposit). As long as the paper is in the box that they associate with litter, it's all the same to them.

The nice thing is, because they can't bury it, you're motivated to change it more frequently. Some people may see this as a disadvantage, however I find it easier to pick up and dispose of the paper rather than scoop around digging for stuff (it's less messy too, and you'd wash your hands either way anyway).

The drawback is that you can't recycle the newspaper once it's been used, but how environmentally friendly is cat litter anyway?

15 Ways To Save Money On Kids' Clothes

Here are some ideas for saving money on kids clothes:

1) Hand me downs.

2) Thrift stores.

3) Buy some neutral, unisex pieces.

4) If your daughter is slender like mine, some of last years' pants (depending on the cut and style) can work as this year's Capri's.

5) Cold water wash and hang to dry items that aren't as dirty, to reduce wear and tear on the fabric.

6) Buy items too large so you can get use out of them longer.

7) Swap meets.

8) Ask for clothes as gifts (luckily both my kids love receiving clothes so they never wish they'd gotten a toy instead).

9) Browse through clearance racks and buy high value items even if they're too big. For example my son at the moment is wearing an adorable blue football sweater that I bought new from a Zellers clearance rack when I was still pregnant with him. Hanging in his closet are larger items, bought new on clearance, that he'll grow into.

10) Sell the stuff you can no longer use, if you don't have anyone to exchange or hand me down to. I know people who have made some spare change selling their kids' too small items on
websites such as eBay, Craigslist, http://www.kidswap.ca/ and in garage sales.

11) Shop at garage sales.

12) If you've purchased something full price from stores such as Old Navy or The Gap, check afterwards to see if that item has gone on sale. Bring in your receipt for a partial refund.


13) Buy off season. This October I bought my daughter a skirt at Wal Mart (from the last of their summer items) that was regularly $12 and had been marked down to $3.

14) Keep track of sales.

15) Take advantage of programs such as Sears' KidVantage.

Sport Mart Sale

If you need higher end sports shoes (my poor feet have been feeling the "cheap shoes woes" with all the high volume walking I do), Sport Mart quite often has "buy one get the second half price" for their footwear. Today my husband and I each got a new pair with this discount.

Circuit City Tip

Here is an interesting tidbit for Circuit City shoppers... I read this warning on www.consumerist.com about Circuit City price tag strategies.

Apparently they have a policy about keeping the price tags the same at every store, so if a certain store wants to raise the price, they don't tag the item, and then raise the price, then apply a "discount". In reality the customer may be paying the regular price or even a higher one.

8 Tips For Saving Money On Food

Saving money on food is something we can all do. Here are some ideas that we've done in our home:

1) Grow your own spices (SO easy, and so delicious fresh :-)

2) Never buy ANYTHING already prepared. Grate your own cheese, for example.

3) Portion control! Start noticing how much food gets disposed of - in the trash, compost, to the dog, etc., and gradually scale back the amount you serve accordingly.

4) Try generics. It's true that some name brands are better (i.e. you get what you pay for), but many are no different and you won't know unless you try. Buy the smallest size of a generic brand to try it out, to minimize waste if you don't like it.

5) Mix generics and brand names to make the expensive kind last longer. Peanut butter is a good example - my daughter loves Kraft and isn't as fond of the cheaper Presidents Choice, but when I mix them together she doesn't notice.

6) Cook with less meat. There are excellent sources of meatless protein that are more cost effective.

7) Use coupons for items that are already on sale.

8) Invest in a bread machine. Easy, yummy, nutritious, and cost effective... what more can you want?

6 Saving Money Tips For Parents

Here are some saving money ideas for parents:

1) Limit your kids' exposure to television ads. I have noticed that as soon as I switch away from Treehouse (which has no commercials) to another children's station and my daughter is inundated with toy ads, she starts asking for stuff. Her birthday list now has "Bratz" instead of "a doll". (If you're the kind of parent who has no trouble saying "NO" again and again and again and again and again, you can disregard this tip ;-).

2) Buy clothes too large out of season when they're on sale. I have a portion of each child's closet that has new clothes, several sizes too big, bought brand new on clearance (such as $2 for a shirt).

3) Shop in thrift stores. This is key: don't go in when you need a particular item - instead make it a weekly routine to stop in and browse for new arrivals. Be prepared to leave empty handed. The more you go in, the more you're likely to find items that look new, and if you're selective about what you buy, you can get nice things for a fraction of the cost.

4) Plan ahead. A friend was telling me that she just (on Nov 3) bought next year's Halloween costumes for her two kids - they were marked down to half price.

5) Have your kids make festive decorations instead of buying them. my daughter had lots of fun drawing and cutting out Jack-o-lanterns for our window for Halloween, and she's looking forward to Christmas decorating projects.

6) On the do-it-yourself note, my daughter also loves to make birthday cards. I've noticed that many of her friends exchange home-made cards at birthday parties.

Nickel And Dime

I came across this story in my money saving web surfing, and just thought I'd pass along the link:

"A Nickel And Dime Budget " - TheChronicleHerald.ca

What moved me about this story was the extreme degree of this woman's poverty, and her struggle to support herself and her 12 year old daughter (it made me appreciate how lucky I am!). The way that she is able to sustain herself and her daughter on her meagre income is eye opening, to say the least.

Saving Money By Catching Scanning Errors

Did you know that you can save money by catching scanning errors at participating retailers?

The Scanner Price Accuracy Voluntary Code is a policy that gives you an item for free if it's scanned incorrectly and it costs under $10, or gives you an adjustment if that incorrectly scanned item costs more than $10.

Participating retailers include Wal-mart, London Drugs, and Save On Foods. You may have to involve a manager because there may be new cashiers who are unfamiliar with the policy, but if you are willing to do so, you can save a few dollars.

Here is a link with more information on the policy, and another link as well.

Happy scanning!

Saving Money By Using Fewer Paper Towels

Not sure where to put this comment - in this blog, or my Green blog, lol.

I am a big believer in the idea that little things add up. My latest saving money task will be to reduce the number of paper towels we use.

I was tidying the basement kitchen the other day and discovered a bunch of new J-cloths I had that I'd forgotten about. They're now in my upstairs kitchen, and I'll use them more and the paper towels less.

Gotta run - I have to get the kids up for school.

Happy saving, everyone!!

J

Customer Service Discounts

This may be old news for some people, but I'd like to share an experience I had at Zellers recently...

I bought something that I thought was on sale (55% off). When I got to the parking lot and reviewed the receipt, I noticed I hadn't gotten the discount. I went back to customer service and was told that the item in question was not actually included in the sale. The customer service cashier said to me:

"Would you like to return it, or do you still wish to purchase it? The best that I can give you is 25% off."

(Really??)

Me: "Well... hmmm. Ok, I guess, thank you, I'll take the 25% off."

I am wondering now, if I'd caught the mistake at the cashier instead of going to customer service afterwards, would she have been able to offer me the 25% discount? Would it have been full price, or not purchase?

I'm thinking that (assuming you have the time) that instead of checking items as they are scanned at the till for sales discounts, you're better off waiting until transaction is paid for and closed, and then going to customer service with any discrepancies.

Has anyone out there had a similar experience, or any insight to share?

J

5 Saving Money Tips We Already Follow

1) Packing lunches. Hubby or I will make a big batch of something (i.e. chili, stew, lasagna), then freeze lunch-sized portions. I use packing tape (easy to label with a Sharpie and easy to remove later) to label the Tupperware lids. We have a fridge sized stand up freezer that we keep full (what a good investment that was).

2) Pay our mortgage every two weeks. I forget the numbers now, but those extra two payments per year (as opposed to the 24 you'd get with paying on the 15th and 30th) shave years and thousands of dollars in interest off the total mortgage.

3) Light and heat control. We have a programmable thermostat that we use to regulate our heat consumption, and I am the "Lights Warden"!! LOL. A tip for fluorescent lights though - supposedly they consume the same amount of energy to power up as they do to illuminate for :15, so if you're leave the room for less time than that, you're better off leaving them on.

4) Use high interest bank accounts for money that you keep aside for bills. These accounts usually have high transaction service charges so you wouldn't want to pay bills directly out of them, but many of them offer free on-line transfers to other accounts. I have three high interest accounts that I currently use, and make about $8/month in interest. Not a huge amount, but hey - it's free money ;-)

5) Buy used kids clothing. We have an awesome thrift store that is walking distance from our house. If you take the time to look, you can find new looking, popular label clothing (Old Navy, GAP, Children's Place, etc) for a fraction of the cost. Kids grow so quickly that often times this clothing has barely been worn.

Speaking of kids... it's time to wake them up for school! 'Bye for now...