Avoid Wasting Money

Nearly every week on Yahoo! I see an article that describes how to avoid wasting money, how to spend less and stretch your dollar more. By performing these techniques you can get "free" money in the sense that you are free to use your money differently.

Of course you don't necessarily have to do all these things to be successful in your finances. Everyone has a different situation. These are simply tips and suggestions.

General Spending Habits

• Never buy on impulse
• Do research to find the best price
• Never buy anything that you can get for free
• Wait for things to go on sale
• Plan your purchases with a budget. Make a budget and stick to it.
  
• Don't pay for things you don't use. (Do you really need a personal drink mixer or can you use the blender you already have?)
• Don't buy what you don't need even if it is on sale.
  
• Shop in your own storage first (people often forget what they have)
• Use it up. Wear it out. Make do. Or do without.
• Don't play the lottery. Give up all gambling.
• Don't buy brand names, only buy generics except where safety or health is a concern.
• Buy used instead of new.
• Barter for everything, especially with your doctor, dentist, mechanic, and travel arrangements. Save $158 just for asking.
  
• Always cancel free trials on time.
• Save your change and roll it yourself. Don't use change machines since they charge you.
• Shop at dollar stores when its a bargain, don't overspend at dollar stores and avoid purchasing items which may compromise safety or health.
  

Taxes

• Start a home-based business so you can claim deductions. Tax Man Takes Account of His Life.
• Reduce your tax refund. Keep your cash until taxes are due so you can make interest on it. Then pay it when its due.
• Give yourself a $200 raise right now.
• 7 Ways to save money on taxes.
  

Debt Management

• Avoid credit card debt
• Get your credit card rate lowered. Sample script to get your rate lowered.
  
• Lower your debt as soon as possible to avoid interest
• When possible, pay more than the minimum requirement for debt payment to reduce the principle. (Pay more than just the interest to pay it off sooner) You can save the smart way.
  
• Pay off your debts with the largest interest rates first. Create a debt snowball for paying off debt.
• Dealing with debt. Which debt should you pay off first?
  
• If you can keep your credit card debt at $0 month by month, then take advantage of cash back and rewards credit cards.
• Check your statement each month and challenge errors until they are corrected.
• Can you settle credit card debt for pennies?
• 10 Simple Steps to Freedom from Credit Cards.
• How to pay off $100,000 in credit card debt in three years.
• Dept-free after 30 years.
• 15 Times When You Shouldn't Use Your Credit Card.
• Debt Busters.

Banking

• Avoid bank fees
• Use only your bank's ATMs or use a free ATM service
• Use only free savings and checkings accounts, or better, get an interest-earning checking account.
• If your bank requires direct deposit then get another account with an online bank, like ING Direct, and send yourself deposits once a month.
• Shop for the best savings rates
• Keep as much money as you can in high-interest savings accounts, and the minimum amount you need in low or no-interest accounts
  
• Don't procrastinate changing to a better bank or using more than one bank.
• Monitor the amounts in your accounts and don't ever write a check that will bounce.

Retirement

• Match your 401K for the maximum amount every month.
• Fifteen Ways to Slash Spending in Retirement.

Insurance

• Increase the deductible to reduce the monthly payment.
• Reevaluate your coverage to make sure you are only paying for what you need and not extra for features you don't need.
• Keep an inventory of your household possessions.
  

Auto

• Increase the insurance deductible to lower the monthly payment.
• Sell your car every 5 years to avoid paying for maintenance and repairs
• Buy used instead of new, and pay in full.
• Don't ignore symptoms that your car needs repairs, the damage and expense could get worse. If your brakes squeal then get the brake pads replaced before you have pay to have the brakes fixed.
  
• Shop for reliable mechanics, ask your friends, use Yelp.com.
• Bike instead of drive. This saves on gas and its good exercise.
• Try to get into a carpool.
• Don't buy premium or higher octane gas unless your car requires it. (Avoid getting a car that requires it)
• Get oil changed on schedule, not sooner or later. Change it about every 5,000 miles or twice a year depending on you drive it.
  
• Don't get a tune-up, change spark plugs or wires on the dealer's maintenance schedule. Use the schedule recommended by the factory or manufacturer.
• Avoid using the dealer for services, oil changes, etc. They always charge more.
  
• Follow the law to avoid speeding tickets, parking tickets or other traffic tickets.
• Replace the air filter and wiper blades yourself
• Keep all your repair records
• Know how to change a tire
• Do your own car washes
• Get the fuel filter changed every 2 years or according to manufacturer's recommendation
• 20 ways you wast money on your car.
• Share with neighbors. Get discounts for referrals and large groups.
  

Cell Phones and Communication

• Stay within your minutes
• Choose a plan that is right for you. Don't pay for extra features you don't use.
• Shop for better bargains whenever your contract is up.
• Sell your contract if you want to get out of it, don't pay the fees for discontinuing early.
• If you have a cell phone then drop your land line.
• Drop newspaper and magazine subscriptions.
  

Health and Fitness

• Drop the gym membership
• Buy generic prescriptions
• Give up smoking, coffee, alcohol and soda

Food and Groceries

• Give up the daily coffee from the local shop or stand.
• Give up or reduce the frequency of eating out.
• Always use coupons. Do the math with coupons. Save $100 an hour.
• Wait for food to go on sale, get to know the sale schedules for your local market.
• Shop in your own pantry first
• Eat all your leftovers, don't let food waste. 50 Ways To Never Waste Food Again.
• Use smaller portions
• Limit your portions if you shop at Costco. Buying in bulk can help you save but not if you eat more.
  
• Educate yourself on store placement strategies to avoid being tricked into spending more.
• Always use a membership card
• Don't buy bottled water. Use a filter and a reusable bottle.
• Don't buy "orgainic" produce. One source said that kiwis, sweet corn, broccoli, avocados, onions and pineapples have no residual pesticides even when you don't buy them organic.
• Don't go grocery shopping when you're hungry.
• Bring your lunch to work
• Get paid to recycle cans, bottles, paper and plastic bags for money
• Uses sponges instead of paper towels. Uses towels instead of paper towels. Use cloth napkins instead of paper napkins.
• Use food waste in your compost for gardening. Keep the garbage in your can clean and dry to avoid using a bag or to be able to reuse the bag.
• Use grocery bags as trash liners.
• Always buy generic medications and prescriptions
• Save on groceries.
• 14 Ways to Save Money on Groceries.

Clothing

• Don't buy brand names
• Learn to sew
  

Home Energy

• Invest in green technology to spend less on energy over time
• Change your light bulbs to new energy-efficient bulbs.
• Turn off your lights and unplug electronics that you're not using
• Energy Vampires: Is it worth it to unplug your electronics?

Travel

• If you can, travel in the off season.
• Find free things to do where ever you travel.
• Try house swapping to save on lodging
• If you have to fly, try flying on Tuesday, Wednesday, or Saturday
• Try to barter for better room rates
• 10 Ways to Cut Your Travel Costs This Year.

Entertainment

• Wait to rent movies instead of going to the theater
• Find free movies and TV shows online
• Get movies, music and books at the library.
• Drop cable TV, watch shows online for free or get a cheaper streaming service online.
• Don't pay for music downloads. You can get free downloads or listen to the radio. Online radio has limited commercial breaks.
• Return movie rentals and library books on time.
  

Baby and Kids

• Trade babysitting with friends and neighbors.
• Don't buy toys for the baby, make your own. The baby doesn't know the difference between a rattle and a jar of pennies. We have a $50 toy vending machine that lights up and plays music and my baby still goes for the TV remote over anything else in the room.

Other expenses

• Don't buy extended warranties.
• Learn to do it yourself. Avoid paying the plumber, painter, carpenter, etc.
• Consider repairing broken appliances instead of replacing them.
  

More money-saving articles and tips:

• Reader pays off $14,330 in 20 months with our tips. She said, "I'm free."
• 20 Ways to Waste Your Money.
• 20 Ways You Waste Money On Your Car.
• 47 Simple Ways to Waste Money.
• How to live well on less income. Family that makes $200,000 lives on $40,000.
• 6 Secrets to Stop Wasting Cash Now.
• 7 Ways to Live Well on Less.
• You Can Save the Smart Way.
• 10 Ways to Make a Budget.
• 5 Reasons Being Nice to Neighbors Can Save You Big Money.
• 8 Painless Ways to Save Money.
• 10 Expenses You Don't Need.
• 10 Tips to Help You Save $1,000 By Christmas.
• 15 Things You Shouldn't Be Paying For.
• 7 Spending Tips from Frugal Billionaires.
• 6 Outrageously Overpriced Products.
• 20 Savings Mistakes People Make.
• The Craziest Thing I Did to Save Money.
• 7 Things You Should Always Buy Generic.
• 5 Quick Ways To Bankrupt Yourself.
• A step-by-step guide to wasting less food.
• 21 Money Savers You May Be Ignoring.
• 10 Things We Overpay For.
• 6 Ways to Save $3,000 a Year on Food.
• How we're saving more, spending less.
• Frugal Ways to Save At Least $100 a Month.
• 10 Golden Rules of Saving on Everything.
• 8 Reasons Why You're Getting an F in Personal Finance.
• Biggest Money Wasters.
• Ways to boost your retirement by $50K.
• Our 7 Favorite Dollar Store Deals.
• Save Power, Save Money, 6 Easy Tips.
• 15 Insurance Policies You Don't Need.
  

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