There is simply no better time to be thinking about saving money and it’s something we all should be striving to do, but what are the best ways to save money?

Don’t Buy ‘Designer Clothes’
Although the celebrities endorse them, try not to buy too many designer clothes. You may only wear the outfit once, which means that the $150 you spent has been more or less wasted. You would get better value for money buying a $30 outfit and if you only wear it once, its not such a big deal.

Create A Shopping List
By creating your own shopping list, you will be able to save yourself a lot of money over the course of the year.

Go through your cupboards before you go shopping and write down exactly what you need – and nothing more. Keep your list with you when you’re shopping, and stick by it. By buying exactly what you need, you will avoid wasting things and overspending.

Shop at Your Local Market
Supermarkets may be convenient and have a lot of choice, but did you know that your local market is probably cheaper for fresh produce? Buying your fruit and vegetables from your local market could save you hundreds of pounds – and you’ll be supporting a local business.

Sell Your Old Things on The Internet
If your house is cluttered and you no longer need your old stuff, then sell it online! Even if you make just a few dollars on each item, it’s better than making nothing by throwing it away. Remember – one mans junk is another mans treasure.

Switch Your Gas/Electricity Supplier
By switching your gas/electricity supplier, you could save hundreds a year. There a plenty of switching sites available online, and many of them operate for free and take a small commission off the supplier when someone switches via them.

Say ‘No’
Learn to say ‘no’. This is one of the hardest things to do, especially when you really want something. For example, if you are looking for a new TV and see one you really like, but it costs $1500 – and you only have $600 in the bank, then just walk away. Don’t be tempted to put it on the credit card, as the interest could cost you a lot of money.

Walk to Work
Something as simple as walking to work could save you hundreds of dollars a year. If you work too far away to walk – ask if anyone would be interested in sharing lifts with you.

Cancel Your Gym Membership
Your gym membership is a luxury that you may not even use. Why not run around the block? Or run round the local park? Join a free sports club…there are so many ways to keep fit for free. If you feel you need to use the gym occasionally most will let you pay per session anyway.

Pay off Your Outstanding Unsecured Debts
If you have outstanding unsecured debts, try to pay these off as soon as possible. The sooner you clear them, the less interest they can gather and the cheaper they will be to clear! (For more debt information visit http://www.debtadvisersdirect.co.uk/)

Create a Strict Budget
Create a strict budget and stick to it! This should help you keep in control of your finances. You may be able to highlight areas where you are ‘overspending’ – in other words, areas where you can cut back and save money.

There is no hiding the fact that to save a little bit of money you will need to put in some effort and stay on top of you finances. The benefits are substantial though, not only does saving money help your cash flow, being in control gives you a nice feel good factor.

10 Easy Ways to Save Money Today is a post from: Dough Defender

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By Gregory Sessa

If you owned stocks or mutual funds at the start of the 21st century, you no doubt felt the financial pain of the market’s crash. Between the stock market’s peak in March 2000 to its subsequent bottom in October 2002, and then the drop again in 2008 and 2009, the combined market value of companies traded on the New York Stock Exchange and NASDAQ fell tremendously.

While the stock market has recovered to a degree, that’s little solace to those whose portfolios were decimated by the market’s drastic drop. Many consumers who are especially risk averse, such as retirees and those nearing retirement, are wary of ever returning to the stock market, given its inherent risk.

During the same time as the stock market freefall, nearly all consumers who purchased a relatively new type of fixed annuity, called an index annuity, did not lose a dime of their original principal. This prompts consumers to ask, “how is this possible?”

The reason index annuity owners can feel secure about not losing their principal is because 100 percent of the principal in an index annuity is backed by the financial strength of the issuing insurance company. Congress mandates that insurance companies back your money, dollar for dollar, in capital reserves. FDIC insurance in contrast has less that $2 in reserve for every $100.00 in your account! Index annuity owners earn a guaranteed minimum rate of return and potentially can earn more, depending on their annuity’s index linked rate of return.

The issuing insurance company links the index annuity’s interest rate to a select external index. Most index annuities have interest returns linked to the S&P 500 or the Dow Jones Industrial Average and some are linked to other indices. The index-linked interest rate earned is usually a percentage of the growth of the index. It is important to note that index annuities are not securities, nor should they be considered a direct alternative to securities.

Knowing that consumers may occasionally wish to tap the funds in their accounts for emergencies or other reasons, most index annuity issuers allow some sort of annual withdrawal, up to a set amount without assessing withdrawal charges. A feature in the newest annuities today can guarantee income that the client can never out live no matter how the market moves; up, down, or side ways. The income is guaranteed for life without annuitization and the amount left over in the contract value will pass to their heirs.

Annuities are sold in amounts as little as $2,000 to $5,000 and offered by some of the most highly ranked and financially sound companies in the insurance industry. Index annuities also are unique because purchasers do not pay any up-front sales charge.Your insurance agent is compensated solely by the issuing insurance company. When you buy an index annuity, 100 percent of your principal goes directly into the contract. Some even offer a bonus of up to 10% so 110% of your money is working for you from day one.

If you are interested in diversifying your assets with guarantees of safety and security, lifetime income you cannot out live, index linked gains with unique features, and peace of mind to let you sleep at night, the index annuity is right for you.

Can Index Annuities Offer Peace of Mind and Guarantee Income For Life? is a post from: Dough Defender

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I’m back from a week long vacation in the mountains of Colorado. Was looking for a week of nothing, nothing wasn’t exactly what happened since I work many jobs and they always seem to hunt me down no matter what I do or where I go. Eh, I did get some time to myself so it wasn’t a total bust.

Now I’m catching up with my Google Reader and I was perusing @ChristianPF to find an interesting review of a new personal finance book that looks rather interesting. Where to Put Your Money Now by Peter Passell attempts to give direction and guidance to the burning questions of where to invest safely and effectively to grow your wealth.

I think I’ll check it out! If you’ve already gotten a hold of this one tell us what you thought about it in the comments. I’d love to hear more reviews before investing in a copy of my own.

Check out the full review of Where to Put Your Money NOW: How to Make Super-Safe Investments and Secure Your Future
at Christian Personal Finance.

New Personal Finance Book: Where to Put Your Money Now is a post from: Dough Defender

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I couldn’t help but think of a couple of great movie scenes that involved the freezing of some form of payment.

One of my favorites is from Confessions of a Shopaholic…

“I’m Freezing Your Assets” is a post from: Dough Defender

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sun-sentinal.com

I cannot handle paying this much to cool my house so I set out on a mission to find a plethora of ways to cut these costs. Here is what I’ve found so far…

Programmable Thermostats
Did you know that you could save up to $200 a year using a programmable thermostat? Many people buy them, but not many people actually program them.

Simply program the thermostat to keep a cooler temperature in your home while you’re there and warmer settings while you are not there. Check with your local energy provider, some are giving them away for free!

Avoid Generating Heat Indoors
Cooking using the oven and even the stove creates more heat indoors and eats up your hard earned dollars to cool. Try heat free meals like grilling outdoors or cold dishes like salads and sandwiches. When grilling outdoors you can cook up twice the amount you normally would and use the microwave to re-head, generating much less heat.

Add grilled meats to salads, sandwiches, quesadillas, and tacos. Add extra grilled veggies to salads and pastas that don’t take much time or heat to cook.

You could also try cooking the evening meal in the morning before things really start to heat up outside and there is always the option to use the wonderful Crockpot!

Hunt Down Lost Energy
Hunt down those cracks and crannies in your homes foundation, windows, and doors. Don’t forget the attic and basement doors if you have them and make sure windows are tightly sealed or double panged.

Fans
Ceiling fans are one of my favorite ways to cool off. They may not actually cool the air, but they keep it moving, making the room feel cooler. This combined with a higher temperature on the thermostat makes the room feel cooler.

Just make sure to turn them off when no one is in the room!

Update the AC
Replace old air conditioning units, just like all appliances now there have been upgrades in new technology. New energy efficient or energy star models may be available. Some cities offer rebate programs for switching to more efficient appliances, check with your city. http://www.energystar.gov/

While you’re at it, check into updating other appliances. Replacing large appliances like washers, dryers, refrigerators, and dishwashers can save you money using up to 50% less energy then your current models. Rebates and tax breaks from local governments, utilities, and the feds are available for all kinds of appliances.

Plant Trees
Planting trees on your property improves property value and they offer shade, offsetting your cooling costs. Plant trees that loose their leaves in the winter and they’ll do double duty letting the sun through to warm your home in the winter!

Take Advantage of the Sun
Solar powered solutions just may be the perfect answer. Start small to absorb the cost of getting started with solar energy with a water heater. Solar water heaters can save a family of four 30% of the cost of conventional water heaters. Appliances that run on solar energy are also eligible for tax credits and refunds.

Use the Interwebs
Personal home energy audits help you to calculate exactly how much energy you’re using. You can also calculate how much energy a new energy efficient appliance would cut from your bill or find out if you qualify for tax credits for replacing your appliances and cars with energy efficient models.

What other cost saving tips do you have for saving on cooling costs? Tell me in the comments!

Are You Kidding Me: Cutting Summer Energy Bills is a post from: Dough Defender

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Blogosphere

Trent over at The Simple Dollar taught us how to take advantage of The Neighborhood Cooperative.

Not Made of Money helped us to Adjust our Withholding for Next Year.

David at My Two Dollars helped us Drastically Reduce our Expenses. There are a few great money saving tips in here that I had never thought of like hauling your own trash to the landfill. Thanks David!

Great post on Eating Out on a Budget by Green Panda Treehouse, this one is a great read for anyone dying to eat out and not waste all those meals at home by spending too much.

Carnivals

• Carnival of Personal Finance
• Festival of Frugality
• Carnival of Debt Reduction
• Carnival of Pecuniarities
• Carnival of Cashflow Conciousness
• Carnival of Personal Development
• Money Hacks Carnival
• Carnival of Kids and Money

The Week in Links 05/09/09 is a post from: Dough Defender

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Blogosphere

Trent, over at the simple dollar gave us a great list of free software he uses regularly. I’m a huge fan of the open source software movement and coincidentally many of the open source programs come with a $0.00 price tag. This is a great post, thanks Trent!

Congratulations to Tricia over at Blogging Away Debt who proclaimed, “we’re credit card debt free!” this week. She was able to pay off over $37,000 in 38 months, good for you Tricia!

J. Money at Budgets are Sexy reported on the horror of the SlumDog Millionaire child being sold for $300,000. What an awful thing for a parent to do!

Five Cent Nickel taught us about 529 plans, for those of you looking to pay for school or avoiding continued education due to the rising costs, this information may be very helpful. Check it out!

Flexo at Consumer Commentary has some great advice for making your money make money for you.

Green Panda Treehouse gave us some great excel spreadsheets for managing finances.

Carnivals

Carnival of Personal Finance #201 – hosted by Mighty Bargain Hunter.

Carnival of Twenty Something Finances – “Baseball by The Numbers” ed. by Stretchy Dollar.

Money Hacks Carnival – “Earth Day” ed. hosted by The Personal Finance Playbook.

Carnival of Debt Reduction – hosted by Simply Forties.

Carnival of Pecuniary Delights #4 – “Living Green & Saving Green” ed. by Living Well on Less.

Festival of Frugality #174 – “I May be in Incredible Pain, But at Least I’m Living Frugal” ed. by My Life ROI.

Did you find something great this week in the world of money? Share it in the comments!

The Week in Links 04/25/09 is a post from: Dough Defender

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National Oceanic and Atmospheric Administration

Did you know…today is Earth Day? In honor of the occasion, I’ve put together an extra round of link love to help you go green to save green.

Check out the green friendly posts from around the blogosphere.

Happy Earth Day everyone!

Blog Posts

David Weliver of Money Under 30 gives us 5 Ways to Save Money And Help the Planet. Great money saving tips including buying local produce, something I’ve always wanted to do.

J.D. at Get Rich Slowly gives us Saving Money and the Environment: Where Green and Frugal Meet. A great guest post for Earth Day from Beth H., who writes about saving time, money, and the environment at Smart Family Tips.

Lazy Man and Money gives us Four Lazy Ways to Save the Environment.

Karen at Living Well on Less tells us why Frugality is good for the Earth

Pinyo at Moolanomy asks, Are Green And Socially Responsible Mutual Funds Worth It? This is an interesting post that’s a bit different from the other Earth Day posts I’ve seen today.

Carnivals

Bargain Babe hosted a great Earth Day blog carnival including these great links!

Free re-usable water from the Disney store posted at Coupon Cravings.

A controversial post from AlterNet, screw the planet.

Baby steps to make a green kitchen from Cooking up a Story

AdFreak talks about recling trucks in Philly wrapped in Earth Day ads

Artistic renditions of our planet from Environmental Graffiti

The Personal Finance Playbook hosts the MoneyHacks Blog Carnival: Earth Day Edition. This carnival is very extensive with tons of great posts and links.

Check these out and share your favorite ways to go green and save green in the comments!

Green Links is a post from: Dough Defender

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Looking to save money is not always easy, but with the internet at our disposal, it’s getting a lot easier. Metafilter has a list of things that have been replaced by free or cheap applications on the internet, the list is a bunch of statements like “I used to ___ and now I use ___.” Check it out, there are tons of great ideas!

Gocomics.com had a funny comic about saving money…er, saving to spend money. I thought it was funny, check it out.

Over at Get Rich Slowly, J.D. has a great review of a new personal finance book. This time it’s an older book from 1988, but by the sound of J.D.’s review it sounds like a personal experience blog in a book to me. I think I may pick up a copy of this one.

Great post on how to make money from a blog over at Christian Personal Finance. The best post on this subject I’ve seen in a while. The post is long and quite detailed, check it out if you are looking to bring in a few extra bucks blogging in your spare time!

The Week in Links 04/10/09 is a post from: Dough Defender

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Mint is a new online money management site in a similar vein to Yodlee and Wesabe, allowing users to visit one web portal to all of their accounts and financial information vs. logging in to a separate banking site for each account. This not only makes it easier for users to use the abundant online banking features available, it also facilitates easy viewing from anywhere there is an internet connection.

Unlike some of the traditional heavy hitters in the world of personal finance software like Quicken and Money the information in Mint is updated with ease and is truly an online platform for money management, monitoring user accounts constantly and sending alerts for low balances and credit limits. Mint allows users to take control of their current financial situation.

Mint just happens to have a great personal finance blog as well, handing out personal finance advice and resources for everyone. In fact, they have combed the internet to find the best personal finance resources in e-book format. According to Mint, you will reference these resources most.

Basics of Personal Finance

1. Building Wealth: A Beginner’s Guide to Securing Your Financial Future (1.2 MB 39 pg) – An excellent e-Book from the Federal Reserve Bank of Dallas (putting all the other Feds to shame), this guide helps individuals and families develop a plan for building personal wealth. It presents an overview of personal wealth-building strategies that includes setting financial goals, seeking guidance, budgeting, saving and investing, and managing debt.
2. Pathways to Getting Ahead (882 KB, 48 pg) – A very good booklet, this guide is targeted to young adults, and aims to spur thinking about the importance of asset building in their personal lives and about how larger policy decisions impact the choices they make.
3. Money Matters: Your Guide for Financial Security (24 MB, 32 pg) – Get helpful tips on how to set financial goals, organize your financial files, find a financial professional, understand your investment options and responsibilities, and be a wise borrower.
4. Banking Basics (721 KB, 44 pg) – From the Federal Reserve Bank of Boston, this e-Book provides an introduction to banking for young people that answers many basic questions: What is a bank? What makes one type of account different from another? Why do banks fail and what happens when they do?
5. Simple Strategies for Managing Your Money (7.5 MB, 12 pg) – From the FDIC. Use the helpful checklists to get financially fit, avoid bad deals and scams, insure all your deposits, and effectively resolve problems with financial institutions.
6. Taking Control of Your Finances (1.3 MB, 12 pg) – Another handy guide from the FDIC that’s geared toward young adults — from those still in school to just starting a career or a family. Learn the right ways to save and manage money, and how to avoid some common mistakes people make with their cash flow.

Consumer Awareness

1. Consumer Action Handbook (11 MB, 178 pg) – This is one of the most popular books published by the federal government (seriously). The 176 page e-Book is an easy-to-read guide offering general buying tips and ways to resolve marketplace problems (including sample complaint letters), as well as information on specific topics such as credit, cars, insurance, and travel. There are thousands of names, addresses, telephone numbers and websites for corporations, trade groups, state and local consumer protection offices and federal agencies.
2. Consumer’s Almanac (562 KB, 32 pg) – Organize your expenses, save for the future, and manage your credit with monthly calendars and worksheets.
3. Ten Questions to Ask When Choosing a Financial Planner (347 KB, 14 pg) – A straight-forward brochure from the Certified Financial Planners on 10 questions you should ask when you look for a financial planner — an important decision that should be accompanied by important questions.

Credit & Credit Cards

1. Building a Better Credit Report (235 KB, 24 pg) – Learn how to legally improve your credit report, how to deal with debt, how to spot credit-related scams, and more.
2. SHOP: The Credit Card You Pick Can Save You Money (213 KB, 13 pg) – This consumer awareness brochure provides tips on picking the right credit card that meets your spending and repayment habits. It focuses on key costs and terms to consider such as the annual percentage rate (APR), the cash advances, the annual fee, and the grace period, to name a few.
3. Healthy Credit (1.2 MB, 12 pg) – Learn more about how your credit report and credit score affect your ability to borrow money and stay healthy financially.

Saving & Investing

1. 66 Ways to Save Money (78 KB) – One of the classic publications with over two million copies distributed. It details practical ways to cut everyday costs on transportation, insurance, banking, credit, housing, utilities, food, and more.
2. Get the Facts on Saving and Investing (5.7 MB, 32 pg) – From the SEC. A road map to start you on a journey to financial security through saving and investing. Use this guide helpful tips and worksheets for calculating net worth, income, and expenses.
3. How SIPC Protects You (3.3 MB, 10 pg) – If your brokerage firm closes due to bankruptcy or other financial difficulties, the Securities Investor Protection Corporation (SIPC) works to return your assets. Find out what SIPC does and does not cover.
4. All About… The Foreign Exchange Market in the United States (assorted PDF) – Discusses in detail the operations, participants and instruments in the U.S. segment of the global foreign exchange market.
5. Tools of the Trade: A Basic Guide to Financial Derivatives (2.1 MB, 15 pg) – This guide offers insight into when and how derivatives can be valuable tools for managing financial risk and focuses on pertinent questions to ask yourself and others before you or your company invests.

Mortgages

1. Know Before You Go… To Get a Mortgage (684 KB, 16 pg) – The purpose of this guide is to provide general mortgage information to consumers and to shed some light on the risks associated with today’s more complex mortgage offerings. It is by no means meant to counsel consumers to avoid certain products, but rather to alert them to potential risks, and encourage them to make informed decisions and to be aware that certain products may be appropriate for some borrowers but not for others.
2. Interest-Only Mortgage Payments and Payment-Option ARM’s: Are they for you? – Information to help you decide if an interest-only mortgage payment is right for you (Note: In Mint’s opinion, they’re likely not).

Retirement Planning

1. Savings Fitness: A Guide to Your Money and Your Financial Future (3.2 MB, 16 pg) – Create your personal savings plan and prepare for retirement with this step-by-step guide.
2. 401(k) Plans (41 KB, 7 pg) – Explains what these plans are, what happens when you change employers, and what to do if you need the money before retirement.
3. Variable Annuities: What You Should Know (11.3 MB, 24 pg) – Explains what they are, how they work, what you have to pay, and questions to ask before you invest.

Estate Planning & Insurance

1. Estate Planning (48 kb, 9 pg) – Covers why a will is important and how to prepare one; how to estimate the size of your estate and minimize taxes; and how to set up powers of attorney and advance medical directives.
2. Living Trust Offers (132 KB, 4 pg) – From the Federal Trade Commission, a small pamphlet to find out if living trusts are right for you and how to protect yourself from scams when planning your estate.
3. What You Should Know About Buying Life Insurance (312 KB, 28 pg) – A quick 28 page pamphlet that describes various types of life insurance, with tips on choosing a company, an agent, and a policy that meets your needs.

Privacy & Security

1. ID Theft: What It’s All About (711 KB, 36 pg) – A small information pamphlet from the FTC that details how thieves can steal your personal information and use it to commit fraud for long periods without your knowledge. Here’s how to protect yourself, and what to do if you are a victim.
2. Identity Theft (452 KB, 22 pg) – This booklet is designed to help you understand what identity theft is, how it happens, how to protect yourself, and what steps to take if your identity is stolen. There is a companion video along with the booklet, available here.
3. Privacy Choices for Your Personal Financial Information (77 KB, 6 pg) – A small booklet that explains your right to opt out of sharing some of your personal information and lists the types of information that financial companies can share about you.
4. Identity Theft and Your Social Security Number (218 KB, 8 pg) – Someone illegally using your Social Security number can steal your financial identity and your money. Find out how to prevent identify theft, how to report it if you suspect it, and if you can get a new Social Security number if you are a victim.
5. Phishing and Pharming: Helping Consumers Avoid Internet Fraud (387 KB, 8 pg) – The increase in online transactions has been accompanied by an increase in online identity theft. Fraudulent access to personal information over the Internet is increasingly prevalent and sophisticated. Two forms of identity theft are at the forefront of this Internet piracy: phishing and pharming.

Bonus e-Book from Awesome Readers:

1. What Women Need to Know About Retirement (300 KB, 78 pg) – A project from the Heinz Family Philanthropies and The Women’s Institute for a Secure Retirement, this 78 page e-Book covers the why, where, and what of retirement (and it’s not just for women!). Topics include: stocks, bonds, social security, and health care. A very decent can’t miss e-Book!

Mint and 30 Free eBooks About Personal Finance! is a post from: Dough Defender

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