Day 4 covers everything from garbage to buffets to 401K’s. Leave a comment if you agree with these.
30. Check the Garbage
One woman had her teenage daughter clean her room. The daughter proudly did just that, filling two huge trash bags of things she no longer wanted. Out of curiosity, the mother peeked into one of the bags to see what was being thrown away. In shock, she found a new tube of suntan lotion, two perfectly good sweaters, makeup, lotion, a picture frame, hair curlers, all good things. The daughter did not realize that just because the items were of no interest to her, they might be to someone else. After talking to her daughter, the mom turned around and listed the items on eBay, making a $35 profit on her daughter’s “junk.”
31. Unsecured Creditors
Make a list of all your unsecured debts along with creditor contact information and payoff amount so you can have an accurate record of how much you owe. Choose one creditor, possibly a credit card, and focus on paying off that bill. Once you have achieved that goal, choose another. Start with the debt that has the highest interest rate since it is the one costing you the most money.
The next time you plan a vacation, consider off-season. Generally, the prices for airfare, hotel, and cars are substantially lower than traveling during peak time. If you look at all your options, you will find that in many cases, you can come close to the date you would like to travel. As an example, flying to Hawaii through June 8 is considered off-season while June 9 is peak. One day makes a huge difference in price.
33. Buy versus Rent or Lease
When looking at homes or automobiles check the rent and lease options. Depending on your particular situation, renting or leasing may be a better financial decision. Weigh all your options and see which choice makes the best sense from a financial standpoint.
34. Buffet Meals
When taking the family out to dinner, consider restaurants that have buffets. In many cases, the prices are outstanding and a parent can share with a small child. In addition, many buffets are “all you can eat” and of course, there is something for everyone.
35. Cable Networking
If you have a computer upstairs and another downstairs and you use high-speed data, have one of the computers be the primary computer and the other be the backup. This way, you are only charged once for Internet access and a small fee of $10 to $15 a month for the second computer. This is a great bargain!
36. Proper Maintenance
Purchase an annual home warranty policy. These policies can run from $350 to $500 a year and offer extremely valuable options. The way most of these policies work is that if you have something break, such as your garage door, dishwasher, air conditioner, etc., for a minimal fee, usually $50 to $100, a serviceperson will come to your home to fix the item. Best of all, if you have five things broken and the same serviceperson is qualified to fix all of them, you are still charged the $50 to $100 fee once, not five times. For your automobile, you might look into purchasing an extended warranty. If you ever need either one of these policies, they will save you tremendous value.
37. Company Stock / 401K
Contributing to employee stock options or a 401K plan is a wonderful opportunity to save. Most companies will match your contribution, sometimes dollar for dollar, up to a maximum, generally 6%. From each paycheck, you can have a small amount of money deducted (1%) and up. Over time, that money grows and since the business is providing a match, you get free money.
38. Family Haircuts
Look for hair styling shops that offer family deals or learn how to cut hair yourself. Many families take care of their own haircuts and put the money they would have spent aside as a vacation fund. This system works out perfectly.
39. Wants versus Needs
Make sure the thing you want to spend your money on is a “need” and not a “want.” Sometimes this can seem like a fine gray line but if you stick to the need list, you will spend less.