As the cost of everything on the planet increases, people are finding it difficult to stay afloat financially. Saving money has become increasingly important in most households. Here are some easy methods that you can use to reduce your grocery bill and your utility bill.

Saving Money at the Grocery Store

You can potentially save hundreds of dollars per year by using grocery store coupons. It’s possible that you’ve been stuck at the checkout line of the grocery store behind someone who is fumbling with a stack of coupons. However, you can potentially save hundreds of dollars per year by using grocery store coupons.

Purchase generic products instead of name brand products. Many times people can’t even tell the difference between a store brand and a name brand product. The only major difference is the price tag.

Make a grocery list and stick to it. Many people often go to the grocery store not knowing what they want to buy, and they end up purchasing items that they don’t really need. Making a definitive list will ensure that you don’t end up impulse-buying.

Saving Money on Utilities

If you have traditional incandescent light bulbs, you might want to replace them with fluorescent bulbs. The fluorescent bulbs use 75% less energy, and lasts up to ten times longer than incandescent bulbs.

Water heating is the third largest household energy expense. Lowering the temperature on your hot water heater can shave dollars off your utility bill. If you have plans to go on vacation, reduce the water heater temperature to the lowest setting. Washing clothes in cold water instead of hot or warm water will contribute to a lower utility bill as well.

Chances are you have appliances around your house that remain plugged in at all times. Some of these items soak up electricity, and you might not even know it. Unplugging appliances that have clocks like microwaves and coffee makers will help save electricity as well as a few dollars every month.

A clothes dryer is one of the most energy-consuming appliances in your household. A cheaper alternative to drying your clothes is to invest in a clothesline and start hanging your laundry out to dry. Sure, it’ll take more time, but your lower utility bill might be worth it. If weather does not permit, you can still hang your clothes to dry inside your home. Dry racks can be purchased at any department store.

Your paycheck can quickly dry up courtesy of inflating utility and grocery costs. Using some of these common sense ideas-coupled with a little sacrificing of certain luxuries-can help absorb the ever-growing price increases.

Being in control of your personal finances is a beautiful thing, but the cost of beauty products might not be so pretty.  A global survey on beauty, conducted by the Neilson Company, found that 2/3 of US consumers agree the pressure to look good is much greater  now than ever before, but the costs of personal grooming products can take a bite out of their budgets.  According to the survey, the most popular beauty services include hair care, skin care regimes, and facial treatments.  These services are not free, but there are ways to get spa like treatments for less than a pretty penny.

Simple, Inexpensive Hair Care
Chose hair styles that are easy to care for and require very little upkeep.  Hair that has a specific cut will be more expensive to maintain than a simple wash and wear style.  In general it’s best to work with your natural hair texture and color to save maximum money.

Easy Skin Care
Reduce your skincare budget by making your own products.  There are simple recipes for face masks, scrubs, and anti-aging products.  Check out Skin Care Recipies for ways to turn your kitchen into a beauty supply store and keep your skin radiant.

Manicures and Pedicures
There are many inexpensive home manicure and pedicures kits on the market that are far less expensive than salon nail care. Spend one hour per week doing your own nails and you’ll save a bundle.

Hair Removal
If you are used to a full face wax every 2 weeks, try to stretch out the time between services to 4 weeks.  Keep on top of stray eyebrow hairs by tweezing regularly.  Invest in some waxing products to use at home for lip and chin.  Other ways to save on beauty and personal care:

• Salon coupons
• Try a licensed beauty school for massage or haircuts.  Usually these services are about half the price of a regular salon visit.
• Comparison shop.  With nail salons on every corner most are willing to negotiate.

Beauty Is on the Inside
True beauty begins on the inside.  We all have physical flaws.  We can obsess about them or embrace them as part of our quirky humanity.  Learning self acceptance does not cost a thing, but getting a little help with what nature provided does not have to cost much either.

There are so many things to buy.  The stores are filled with bright shiny things that can easily lure you into spending thoughtlessly.  Online stores make it simple to point, click, and spend without a second thought.   It does not take long before you are in debt, but not sure where the money has gone.  Impulse spending can put a real dent in your budget.  Practicing disciplined spending is one of the best ways to gain control over your personal finances.

Make a Budget
Budget is not the most exciting word, but following one has amazing results.  Determine the amount of money you can spend for each category of your life; for example: food, clothing, entertainment, housing, ECT…  Budgets can be tracked using pen and paper or a computer software program such as Quicken or Money.  Give yourself some leeway by budgeting in miscellaneous items that come up during the week, but stick to the other elements of your budget religiously.  Your impulse spending will drop dramatically and you’ll see your bank account swell.

Stay Out of the Stores
Unless you need something specific, stay away from the stores.  Shopping should not be a form of entertainment.  Spend time with friends, family, exercising or reading and leave the shopping for when you really need something. 

Think Twice Before Spending
When you do need to buy something, maybe you can borrow it or repair what you already have.  Outside of food, clothing, or shelter, what do you really need?  If you can find a way to borrow or do without you’ll save yourself a ton of money.

Watch Advertisements with a Critical Eye
It’s the marketer’s job to part you from your money.  Who cares if you really need it or even want the item?  Notice how advertisements play on your emotions.  Will you really be more successful, beautiful, handsome ECT… if you use XYZ products?  Laugh at the absurdity and then keep your wallet close.

Research Your Item
If there is something you want to buy, take the time to research the product.  If you buy it, are there other add-ons you will need over time?  How much does it cost to upkeep the product?  Is there a new version coming out soon?  Before spending, do your diligence to make sure you are aware of the full cost of the product.
      
Spend Wisely for Healthier Finances
Impulse spending is a bad habit and a slow leak that can wreak havoc on your personal finances.   With a little thought you can gain control of thoughtless spending and rebuild your savings.

Teaching teens about personal finances is one of the most important duties parents have.  According to a recent Charles Schwab survey titled Teens and Money only 30% of teens believe their parents/guardians are concerned with making sure they are learning the basics of personal finance.  64% of teens reported they would rather learn about money management through experience rather than in the classroom.  When parents take the time to teach their teens basic money management skills the education can prevent financial hardship down the road.  Side benefit: parents can learn something too!

Teach Value of Money
Weather your teen gets money from a job, or an allowance they should be able to make the connection between work and income.  It’s easy for teens to ask parents for money and then spend it thoughtlessly, but when they have earned the dollars through their own efforts they will have a better appreciation of it.

Teach Savings
One of the most valuable lessons to teach teens is how to save a portion of their income.  Get your teen into the habit of saving for purchases or investing.  This practice will teach discipline and the benefits of delayed gratification.

Teach Budgeting
Helping your teen calculate his expenses now will get him in the habit of tracking his expenses as an adult.  Allow your teen to be financially responsible for certain things in his life.  For example, gas, cell phone bill, entertainment, and clothing.  Only 14% of teens in the survey said they were involved in paying household bills.  Allowing teens to be involved in this area helps them see realistically how far money goes.

Teach about Credit and Debit Cards
Learning about the responsible use of a credit and debit cards can help teens build a strong credit history and learn to pay bills on time.  The ease of using a credit or debit card can be a financial disconnect for teens.  Fees, interest rate hikes, and overdraft charges are traps that teens need to learn how to avoid.  Credit card debt has caused financial ruin for many adults, but it does not have to be that way for your teenager.

Teach Investment Strategies
It does not take much money for teens to start investing.  If you are unfamiliar with investing strategies this is a great opportunity to learn together.  There are many, online and offline resources available to help start your teen with some simple investing that can pay off big later. 

Teach Confidence and Discipline
Teaching your teen about personal finances and money management now will build confidence and disciple.  Knowing the value of money, saving, budgeting, and investing is sure to put your child ahead of the class.

Even though this Christmas is just over two weeks away, there are numerous easy ways to cut your living expenses and use those savings for next Christmas. Following these tips can save you thousands in just one year.

Groceries

Plan out your meals per week; by creating a menu, you know precisely what items are needed and this will reduce your grocery bill by not buying lots of unnecessary extras. Your slow cooker, microwave, and toaster over can be your best friends for convenience, plus they use significantly less electricity than a conventional oven. Try to avoid purchasing sodas and kids’ fruit drinks because not only are they more expensive but they are also loaded with sugar and nearly 0% nutritional value. Consider buying paper goods, bread, etc in bulk at warehouse stores like Sam’s Club or Cosco’s.

Utilities

Keep your thermostat set below 74 degrees Fahrenheit for heat or above 77 degrees Fahrenheit for air conditioning, unless it’s extremely cold or hot outside. Also, keep in mind a fan only makes it feel cooler in a room because of the circulating air, so be sure to not leaving running when the room is unoccupied. Some local gas and oil distributors are offering programs which provide the opportunity to keep your price per gallon locked in and unaffected by the fluctuation and rapid inflation of prices. Remember to turn off lights when leaving a room and unplug some things when not in use: radios, printers, fax machines, electronics, space heaters, chargers, and most small appliances.

If possible, run your dishwasher no more than twice a week and use a clothes line rather than your dryer, during good weather.

Dining Out

Cut back on eating dinner out to no more than twice a month; once is even better. Make your own coffee, breakfast, and lunch rather than buying it out or visiting a vending machine. If you’re spending at least $6 each workday morning that unbelievably equals approximately $2,190 a year. Just think of the Christmas you could have simply by investing in a good coffee maker and toaster oven!

If you’re spending $10 per workday for lunch, snacks, and a drink then you’re blowing at least $2,700 a year. This would buy many gifts as well as a lot of deli meats and fresh fruits for lunches; this includes the kids’ lunches and dad’s too.

Entertainment

Wisely utilize your local library for DVDs, CDs, internet access, books on CD and MP3 players, plus books all for FREE.

On all personal finance sites, you’re likely to find information about how you can use coupons to save money on your weekly groceries. The cost of feeding a family can be astronomical, but it doesn’t have to be as a woman proves in a news segment on ABC News and Good Morning America. Kathy Spencer from Massachusetts shows off her couponing skills for Good Morning America, where she got $267 worth of groceries for just 1 penny.

Get Circulars and Coupons

Kathy spends a couple hours each week going through the weekly circulars, newspapers, and the internet to find the sales and coupons. When she makes her shopping list, she buys products based on if she can get them for free (or close to it).

Check Stores Policies

Many stores will let you use multiple coupons on the same type of order. For example, Kathy had 7 coupons for $1 off seafood orders. She went to the fresh seafood counter and ordered scallops and perch – in 7 different orders so that each order would be about $1 in price. She got a quarter pound of scallops in 4 different orders to get the equivalent of a pound of scallops. A quarter pound of scallops cost about $1.08. This way, she can use one coupon with each of her quarter pound orders and it will cost her 8 cents per order. If she got a full pound order of scallops in one bag, she would only save $1 off the order because she could only use a single coupon for the one pound bag, and she would pay about $3.25.

Save Store Bonus Credits

If the store you do your grocery shopping in offers bonus credits – coupons towards the price of your next order – you can use them to reduce the amount you pay at the checkout line. CVS offers “extra care bucks” when you shop and swipe your CVS card. These print with your receipt and work like cash the next time you come into the store. CVS is also a store that accepts both manufacturer coupons and their own print coupons – giving you many opportunities to get free products.

Double Coupons

Stores that allow you to double coupons give you the opportunity for big savings. Most have a limit of 99 cents or so – but any coupon you can double saves you twice as much money!

Combine Store Coupons with Manufacturer Coupons

The majority of stores will allow shoppers to use manufacturer coupons (typically found in the newspaper or online) with a store coupon (typically found in the store circular with weekly sales).

Youtube: Feed a Family of 6 for $4 a week

In order to compete in today’s economy it’s important to get some higher learning. As the US workforce demands advanced skills and education, it will look for more qualified workers who can compete on a global level. The cost of college can seem out of reach for many Americans and it is rising.

The College Board estimates most families can expect to pay on average $172-$1096 more this year than last year on tuition and fees. It also notes:

• For an average public 4 year university expect to pay $7,020 per year up, 6.5%

• For an average public 2 year college expect to pay $2,544 per year, up 7.3% But it’s important to look at college education as an investment in the future and there are ways to cut the costs and save money.

Get Paid For Grades

Getting good grades is a reward in itself, but a new program called Grade Fund will add some cash incentive for each A the student receives. Students create an account on www.gradefund.com. They invite sponsors, anyone from friends and family to teachers or coaches to pledge donations for every A the student receives in school. Corporations can sponsor as well; pledging dollars for smart students who get good grades in the area of corporate interest. Students then enter their grades and classes, upload their official transcript and presto, money is collected from the sponsors (minus a transaction fee). Money can go directly to the students or straight to the school to pay for tuition and fees. The more sponsors, the more money the student can collect toward her education.

Textbook Budget Buster

Once you’ve paid for tuition, and room and board, you might be tapped out, but you’ve got to get books, or you’ll be looking over the shoulder of the guy in front of you. The National Association of College Bookstores estimates on average a student pays $702 per year on coarse material such as readers, electronic materials, and textbooks. They estimate the price of text books has risen 40% in the last five years, with some books costing over $100. Students are encouraged to resale textbooks once the course is over, but they get back far less than what they paid for it. Freeloadpress.com is a site that offers online versions of textbooks for free. The free online version, called StudyBreak Book, has messages from advertising sponsors who underwrite the publication. The textbook is free and a complete version of hard copy texts. Students can also check out Bookrenter.com who boasts a savings of %75 by renting the textbook over buying.

College as an Investment

Despite the rising cost of a college education, the College Board estimates that a college graduate will earn 60% more over a lifetime than someone with only a high school diploma, this translates to over $800,000. Whether paying for a 4 year public university or a 2 year program, college should be seen as an investment that will make money over the long haul, but it does not have to strain your finances in the meantime.

To compensate for the rising college costs there are many investments available. For example, this RESP allows for a fixed amount to be saved every year.

By now, we have all seen a celebrity endorsement of some kind on television or in print. Some make sense (Sally Field for osteoporosis medications – I believe her) and others that just don’t compute (all endorsements by Gary Coleman). Celebrity endorsements, no matter how far-fetched they may seem are around and will continue to be around because they work. On some level, there is something inside most humans that do believe if the rich and famous are doing it, we have to get on board too.

However, marketing power people know just what they are doing and how to sell product. Even the most ridiculous products can find an audience of believers. With that audience often comes deep pockets. Those willing to hand over cash for any number of miraculous pills or instant cures are plentiful but falling for a fad realistically is just a big waste of money.

So how can you tell what products are trustworthy and which are better left on the shelf? Here are a few things to consider when contemplating your next purchase of a miracle anything:

Backed By Tangible Evidence?
Marketing teams often use “real stories” from “real people” because it is human nature to feel compassion. But often times those “real stories” are dramatized heavily. Claims that just don’t make a lot of logical sense probably are not worth your time or money. Are you getting the real story? Is the miracle vitamin they want to sell you really going to work?

Research Product Reliability
Do some legwork to look at any research provided. Any new medication or treatment should be tested on a large number of people and include both the actual treatment as well as a placebo in an environment where testers and participants do not know who took which product. Those studies that involve animal testing or with a controlled group provide no real answers of effectiveness.

Spokesperson Benefit
Those touting the product, especially the famous people, make have a stake in the profits. Be wary of why people are vouching for a specific product. There may be some cases where the person really is backing the product wholeheartedly and not for financial gain but be aware of those who have something else to sell, like accessory products, or a book.

Remain Skeptical in Words
The marketing team know how to use the buzz words like ‘miracle’, ‘wonder drug’, and ‘cure-all’. Many also work hard to explain away why their particular product is not endorsed by the medical community or why the popularity of the product is low. It can be easy to get caught up in buzz words and buy something you don’t want, don’t need, and can’t afford.

Marketing is a big industry and people are getting craftier every day, finding ways to really hit their target market. Sticking with a budget is a sure-fire way to understand what you can and can’t afford. Forget the famous faces and the big propaganda. If there is a product you are really interested in, take the time to see what it really is all about instead of just following the lead of someone else.

If you are on a budget, you can’t beat free.  There are many services, places, and products to be had for free or almost free if you know where to look.  Here are five free or almost free ways to cut your expenses, save money and yet still enjoy life.

Free Books
The public library may be the obvious choice for all things free, but in the current economy library use is up due to all the free goodies they provide.  There are over 16,000 public libraries in America and according to a 2008 Harris Interactive Survey Poll, 2/3 of Americans have a library card.  The library is a great free source for more than just books.  Patrons can check out DVDS, CDs, and computer software.  There is usually a story hour for kids and free internet access for students and adults.  Some libraries have movies nights and guest lecturers or classes for the community.  

Free Phone Calls
Save big on all of your phone calls through the website Talkster, an ad-supported phone company offering free local and international phone calls to more than 30 countries and territories.  Sign up for an account for yourself and up to five friends and all of your calls are free.

Free Yoga
Who doesn’t need some rest and relaxation from all the economic news?  Yoga is a wonderful practice to release tension and stress.  Many yoga studios are willing to offer free classes in exchange for work around the studio.  Contact your local studio and see if you can work out a deal.

Almost Free Movies
With the average cost of a movie ticket running $7.18, you’re better off spending $1 on a movie rental from Redbox.  How it works: choose a movie from RedBox, reserve a copy from one of 17,000 locations, pick up the DVD from the location you choose, return DVD when finished.  Redbox charges $1 per day, per movie until the DVD is returned to any Redbox location.

Free Accommodations
Vacations are a big part of American life, but with the high cost of flying, hotels and gas many Americans are looking for ways to cut back yet still enjoy some time off.  According to a Harris Interactive Poll, the average American spends about $1,700 on a weeklong vacation.  52 % of those polled said they would be looking to cut back on accommodations.  CouchSurfing.com is a non-profit, on-line network that connects travelers with locals in over 239 countries and territories around the world.  Participating hosts open up their homes to allow travelers to stay for free and see the how people in  different countries live. 

The Free Trend
Getting stuff for free is a growing trend.  According trendwatching.com, more and more companies are vying for consumers’ attention by offering free products and services.  This is good news for consumers who are looking to squeeze the most out of their dollars.

Combining thriftiness with environmentalism is a new consumer trend called eco-frugal.  This concept helps consumers have the best of both worlds; saving money and saving the environment.  With the economy still slow many Americans don’t have money to spare and the perception is that greener products cost more.  According to trendwatching.com “cash strapped consumers are going out of their way to save money on energy bills, motorized transport and other waste prone, econ-unfriendly activities…other consumers are still primarily interested in sustainable consumption, but no longer willing or able to pay the usual premiums.”  There are ways to be an eco savvy consumer without breaking the bank.
 

Environmentally Friendly and Stylish
It is possible to dress fashionably and support recycling efforts.  Consignment shops have been around for awhile now but with the down turn in the economy, consumers have a hard time justifying paying full price for an outfit.  Consignment shopping can save a consumer up to 80% and sometimes more on women’s and children’s clothing, coats, and handbags.  Most of the clothes are gently used which allows for the circle of reduce, reuse, recycle to continue. 

Shoe Fetish
If shoes are your thing, the market for environmentally friendly recycled shoes is growing but the cost of a pair (about $80-$100 each) has kept most well-meaning customers away.  Now brands like Payless offer shoe lines made from organic and recycled materials for $30 a pair.  A great way to literally and figuratively reduce your carbon footprint.

Hot Water, Cool Savings
It is estimated that Americans spend 20% on heating water for their homes.  General Electric has come out with a new product that shows hybrids are not just for cars.  The new GE Hybrid Electric Heat Pump Water Heater claims to be the next generation of water heaters. It boasts to reduce water heater operating costs up to 62% and save the average family $320 per year without sacrificing hot water.  Good news for consumers struggling with ever increasing electricity bills.  Other ways to save on your water bill:

• Install low flow shower heads and faucets
  

• Check toilets for water leaks
  
• Don’t run the hose when washing the car
  
• Take shorter showers

Going Green and Save Big
American consumers are ready to do their part in going green and helping the environment, but with a recession and lagging job opportunities, they just don’t want to pay an arm and a leg to do it.  Companies that can combine price and eco-friendly products will have customers for life.