Entries from September 2008 ↓

Here’s a quick list of five tips to save gas. By using these gas saving tips you can save as much as 20-30%!!  With the cost of filling a tank between $50-80, that’s a nice piece of change.

1.  NUMBER ONE is DRIVE LESS! This is a no-brainer. Start carpooling to work. Combine trips. Don’t drive around just because you don’t have anything else to do. Get out of the car and onto a bike, or walk.  Find fun things to do that are less that 10 minutes from home.  Don’t be one of those people that drives 20 miles extra to a “sale”, not realizing that you just spent 2 gallons of gas getting there and back. Less driving = more money!

2.  Next, DRIVE SLOWER!  It’s true – anything over 65 MPH, ideally 60, burns 20-30% more fuel.  Your engine is not meant to function efficiently at 70,75, 80 MPH. So SLOW DOWN.  Do a test:  See how many days a full tank lasts when you’re slowing down compare to usual fast driving habits.

3.  Inflate your tires.  Don’t laugh. This can cost you another $1-5 per tank. That’s $20 a month.

4.  Find the lowest priced gas station at Gas Buddy – drivers input the lowest prices they find in their area. Join and post your own local prices.

5.  Pay Cash. Some gas station owners are still gouging for credit card use.  This BS is likely to increase in a credit-damaged economy.  Use cash to save a few dollars.

Just a word of advice: It’s a good idea to start doing some or all of these, since over the next ten years we’re really going to see fuel costs rise as supplies dwindle.  Day to day, prices might be a little higher or a little lower, but into the future, there is nowhere for prices to go but up.  Hear T Boone:  $150 a year from now…

Boone Pickens: $150 A Barrel Next Year

More tips for saving gas coming soon so subscribe to Saving Cash Tips today!

Since the events of the past week or so, I’m guessing many people have stopped their retirement contributions, or at least redirected them to something other than the stock market.

But I had to laugh, when my company’s investment plan suggested that a “good” money market was one that only lost 3-5%, thereby beating the S&P for the past year.

Since when is a good investment something that simply loses less than other investments?  I am not an expert but I would bet that the 10-11% “average” stock market returns we’ve heard parrotted by all investment companies are sorely beaten up by 2008.  My crystal ball says good luck getting any kind of return at all in stocks for the next 2-3 years.  If you put 401(K) money in a fund under these conditions, I’d be intrested to hear how you think that is going to benefit you?

I don’t use a lot of coupons since at least for food products, they often require purchasing two of things I only want to buy one of, or groceries I never really needs.  But here are a few ideas for finding more coupons, the useful kind:

- Elementary schools often sell coupon books.  I love using these, they are not tiny pieces of paper I have to organize, so I keep it in the car, and periodically tear out ones I think I could use in a given week.  The books have products and services we use every day, like groceries, movies, shoes and clothing, furniture and restaurants.  For $25, I save at least $250 using these, sometimes more.

Note that some municipality parks and recreation departments also sell these books, be sure to flip through one if you haven’t used on before, or find them here.

- Speaking of your town, the parks and rec department often has discounted tickets for local attractions and events.  Be sure to look there first if you’re planning trips to amusement parks, theater, movies and more.

- Online services that give you discounts and coupon codes instead of paper.  My favorite is BigCrumbs. You can just save a ton yourself on the discounts offered for buying by clicking through on their site, you get cash back into your PayPal account, and can buy things like vouchers for using in restaurants. EVEN BETTER:  If you invite your friends, you get discounts when they shop too!  You could actually build a small part time business getting the word out, as more and more people shop online for deals and steals.  You have to check it out if you’re serious about saving!

BigCrumbs - Cash Back

- My township uses RecycleBank – a great service that collects all recyclables into one big can, and then gives us credits to trade for coupons based on how much we recycle. Of course, it has its drawbacks: the idea is to REDUCE your output of garbage and recycling, but as long as I have some, I can get coupons for clothing, food, local pharmacies and more.  Look into it for your community.

- Online coupon swaps. Coupon swaps online are a great way to find coupons for items you actually use, and trade them for those you don’t want.   Look for our coupon swap discussion group very soon.

These are just a couple ideas, saving on groceries, gas and more with coupons means every little bit helps you put more money in the bank.

Image via Wikipedia

Time to start that side business if you haven’t already. A CASH side business is the best idea.  By spending a couple hours a week and putting some cash in your pocket, you might have a little bit more protection tan if you just keep relying on the credit card and spending every dime you earn every paycheck.  Look for more on the cash economy here are Saving Cash Tips.

Here are a few ideas to get you started:

- Sell your stuff on Craig’s List – cash only
- Set up a table at local flea market, swap meet
- Fix up used cars and resell them
- Sell services: piano lessons, computer spyware cleanup, home or office organizing, house cleaning, day care

You can also start thinking in terms of barter and trade. For example, post on Craig’s List has a barter section, but you can also post under for sale.  (We’ll be posting links to other good places to sell and market your stuff in future posts.)

Anything you can do to bring in cash, or make extra money, is going to be a good idea right now.  I’m recommending that if you’re selling using PayPal or some other service that credits a bank account, that you pull the cash as soon as you can, and hold onto it to invest in something else.

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For a while there, I started to think that we’d never need to see a paper bill again.  We can use debit cards to access our banks, credit cards when we don’t have money in the bank, and just throw those pennies you get for change right onto the street.

Well, with this credit crisis, I think it’s time to start putting your cash in your pocket, and using it for everything instead of plastic.  It might be time to start thinking in terms of a cash and barter economy.

I also think it’s time to get your money out of the bank. I mean, why mess around, just in case?  I have no problem with saying this, since I keep hearing from bankers on tee vee about how the fundamental nature of baking is going to change anyway, and the way we think about it.  All I know is, in times like this, it’s the little guy who is likely to have the most taken from him, and I don’t personally think the risk is worth keeping my money in some institution for a measley 2% or even 3%.  OK so there’s inflation – but I am just saying it might be a good idea to keep your cash in hand, on the sidelines, and look for some kind of opportunity that is safer than a bank.

As for retirement funds, I moved mine out of the stock market last year.  (I recommended the same thing to my coworkers but they just said “Oh that’s to much for me to think about”. I bet they’re thinking now!) I don’t like that it has to sit in any bank right now, but at least I’m invested in the same thing the Chinese are – Treasuries.

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