Financial Spring Cleaning: 200 Tips and Tricks to Get Your Money In Order and Save More This Year
Spring time is here! This means it’s time to get rid of the old junk in your home–along with some old financial habits that aren’t working for you.
If you’re ready to ditch your old ways, there’s no better time than now to make it happen. To help you get started, take a look at 200 amazing tips and tricks to get your money in order and save more this year!
Budgeting, Banking, Credit/Debt and More
To get started, it’s good to clean up your bank accounts, while working on your credit, debt and other issues. Here are some tips to get you moving.
Budgeting and Saving
1. Create a budget to look at what you’re bringing in and organize how you’re spending it.
2. Look for high-interest savings accounts that could help you earn money on your accounts.
3. Also, consider free checking accounts that will allow you to manage the majority of your account without cost.
4. Think about purchasing a Certificate of Deposit (CD) that allows you to grow money over time.
5. Explore your possibilities with a money market account, which allows you to save and grow your money but provides semi-liquid access to your funds.
6. Remember to make sure that a bank is insured by the FDIC. If you’re with a credit union, make sure it’s insured by the NCUA so that money you have stored can’t be lost if your bank files for bankruptcy.
7. Start thinking about retirement and how you could add money to your 401(k), IRA or other savings accounts to build up your nest egg.
8. Don’t forget to add quarterly and yearly expenses to your budget.
Credit and Debt
9. Take a look at your FICO credit score to see if it is considered high or low. A low score could affect your ability to acquire loans, insurance and even bank accounts.
10. If your score is low, begin to pay down bad debt.
11. Get rid of some credit cards by eliminating the balances and closing the accounts. However, for credit purposes, it’s good to keep the credit card you’ve had the longest.
12. You could transfer your credit card balances to a lower-interest card if you want to pay them off using less money.
13. Also, ask your credit card company to lower your interest to save money.
14. Always pay credit card balances on time to avoid late fees and penalties
15. Consolidate your student loans to a lower rate to help save money over the remainder of your term.
Obtaining New Loans
16. If you’re looking into a new auto loan, apply for one from your bank or credit union before visiting a dealership to save money on interest and other fees.
17. If you do choose to visit a dealership, look at rebates vs. low-interest financing to determine the best deal for you.
18. Look into foreclosures if you’re thinking about taking on a new home loan, which could save you thousands on the price.
19. Negotiate with homeowners to see if they will pay closing costs and other fees to help reduce the overall cost of your mortgage loan.
20. Beware of adjustable-rate mortgages since their interest rates can fluctuate, resulting in you paying much more for your mortgage down the line than you anticipate now.
21. Shop around for low rates on any type of loan you hope to acquire.
22. If you already have a home loan, you could consider refinancing your mortgage to lower your monthly payments.
Taxes
23. Look for credits and deductions to help lower your tax liability for the previous year. Of course, you want to make sure they’re legit (i.e. don’t claim dependents if you don’t have any).
24. You might try to file your own taxes this year to save money that would otherwise be spent on an account or major tax firm.
25. File and pay your taxes on time to avoid penalties and fees that come from late payments.
26. Look into tax extensions if you can’t pay on time.
27. Plan your federal and state withdrawals from your paychecks this year to ensure you don’t underpay next year.
Education
Providing or acquiring an education is expensive, so consider some ways to cut costs.
College Tuition
28. If you are paying for your own college tuition, it’s important to look for scholarships in as many places as possible.
29. Despite tough economic times, some companies still offer tuition reimbursement to their employees, so look into that.
30. Also, there are tons of low-cost colleges and universities out there, so shop around for lower tuition’s from schools that offer good educations.
31. If you are expecting to tuition for your kid, consider having them attend an in-state college or life at home.
32. Another option is to attend a two-year college first then transfer to a four-year university.
33. Also, consider acquiring assistants or fellowships for you or your kids to help reduce tuition costs while attend school.
34. Don’t forget to fill out a FAFSA form (Free Application for Federal Student Aid) to gain access to other financial assistance like grants.
35. And consider taking free computer and language learning courses among other free topics.
Private School for K-12
36. If you want to send your kids to private school, you could look into scholarships for the institution.
37. Inquire with your state’s Department of Education for funding opportunities for private schools.
38. Check with your local bank, credit union and organizations in your area from private grants or loans for K-12 schooling.
39. Some colleges and universities offer pre-college schooling and may offer funds to attend their private schools.
School Supplies and Other Expenses
40. Purchase some school clothes during the off-seasons (i.e. buy winter clothes in the summer) to catch discounts.
41. If your child attends a school where students wear uniforms, visit uniform-specialty stores for discounts.
42. Buy school supplies online to take advantage of Internet and bulk discounts.
43. Purchase a membership to warehouse clubs like Costco or Sam’s Club for bulk discounts.
44. If you’re in college, consider purchasing books online.
45. Take advantage of back-to-school sales to buy bulk items for future needs.
46. If your state offers sales tax holidays, it’s good to purchase items during that time.
47. You could even take advantage of deep discounts during the holiday season.
Food and Entertainment
Since food and entertainment are often combined, let’s take a look at ways that you could save money in both areas.
Food and Groceries
48. Stop eating out so much and start making the majority of your meals from scratch.
49. Take advantage of coupons found online, in newspapers and those mailed to you weekly.
50. You might consider growing a garden to get some of your veggies for free.
51. Cut back on meat to save money and feel lighter.
52. If you just can’t cut back, consider buying in bulk and freezing some meat when you catch sales.
53. Instead of buying cold cereal, switch to oatmeal to save money and improve your health.
54. Try to make soup once a week. It does a great job of spreading out your ingredients.
55. Buy groceries from Sam’s or Costco for bulk discounts.
56. Leave junk food behind. It saves money and keeps you healthier.
57. Instead of buying paper napkins or paper towels, consider cloth napkins that can be washed and reused.
58. Look into networks that offer food at significant discounts like Angel Food Ministries.
59. Check Amazon for grocery deals. Yep, believe it or not, they sell groceries.
60. Of course, include groceries in your budget to ensure you’re not overspending on food.
61. Never shop on an empty stomach! Your eyes will be bigger than your wallet and you’ll buy everything in sight!
62. Instead of buying your favorite meal, search for knock-off restaurant recipes or visit sites like Food Network to make yummy dishes.
63. While they’re not the healthiest, you could buy freezer meals for nights you don’t have time to cook.
64. Pack your lunch and send the kids off with packed lunches as well.
65. Make your own coffee and carry it to work in a mug instead of paying for someone else to make it.
66. If you’ve never done it before, try generic-brand foods. Very often, they taste the same brand-named foods.
Fun and Entertainment
67. If you love to entertain, you can cut corners by having a potluck where your friends bring food to your party.
68. Instead of purchase a CD for a party, make your own CD buy downloading individual songs for $1.
69. Have a Netflix or Redbox night instead of spending $8-$12 per person to visit a movie theater.
70. Check for free events in your area rather than dishing out cash unnecessarily.
71. A way to entertain the family is to have a family game night, whether you’re playing board games or hide and go seek.
72. Visit your local park to ride bikes or take a walk as a couple or with the family.
73. Check out books and rent movies from the library.
Hair Care, Personal Care and Clothing
Hair care, clothing and other personal effects can put a dent in your wallet, so take a look at some tips for cutting corners in these areas.
Clothing
74. A good way to save money on clothing is to look for store coupons found in newspapers or online.
75. You could shop with retailers via their websites where they often reward customers for online visits.
76. Another way to save money is to share clothes with your friends.
77. As with your kids’ school clothes, you could buy your clothes during the off-season` to receive up to 75 percent in discounts.
78. If you’re into brand names, purchase high-fashion clothes online or at consignment shops.
79. Add new accessories to old outfits rather than buying new clothes.
80. Keep in mind that you can sell your old clothes online or in consignment shops to pay for new or used clothes you’d like to purchase.
81. It’s great to purchase clothes during the holiday season when many retailers offer their deepest discounts.
82. Borrow one-time use clothing instead of buying them and leaving them in your closet forever.
83. You could learn to mend your clothes instead of throwing them away.
84. Also, have you ever thought about making your own clothes to not only save money but better express your personal style?
Hair Care and Styling
85. Cut back on salon visits and style your own hair. You’d be surprised by how your creativity kicks in when necessary.
86. Purchase shampoos and conditioners in bulk at warehouse clubs instead of salons.
87. Buy yourself a pair of salon shears cut your own hair. It’s not as hard as you think.
88. You could also buy some cool (and inexpensive) hats for days when you can’t style your hair.
89. Instead of purchasing top-of-the-line ceramic curling irons, buy affordable curling and flat irons that create the same results.
90. If you’re a guy with a bald head, shave your own head rather than visiting a barber.
Personal Care
91. Purchase toothpaste and toothbrushes in bulk or even online.
92. Ladies, don’t forget to purchase feminine products in bulk to save money.
93. Consider crystal deodorant, which is actually a little bit more expensive up front, but lasts longer.
94. Guys, shave your own beards rather than having them shaved or trimmed at a barber shop.
95. Visit your dentist and respective doctors regularly to ensure your personal care is easier maintain.
In and Around the House
Shaving costs in and around the house can save tons of money. Let’s look at some ways to get this done.
Inside and Outside
96. Shop online or at discount stores for household cleaners that you can buy in bulk.
97. Also, you may be able to make household cleaners instead of buying expensive products.
98. Purchase wash cloths instead of sponges that will be thrown away.
99. Also, you could use a towel to dust instead of the disposable dusters.
100. As for decorating, you could buy plastic plants to save on replacement costs.
101. Instead of buying expensive paintings, print photos and frame them yourself.
102. Purchase darker furniture that doesn’t show stains easily if you have kids.
103. Don’t purchase expensive plug-ins or room fresheners when you could purchase incense or candles to fragrance your home.
104. If you’re looking to purchase major appliances, visit Energy Star to look for appliances that save money.
105. Also, check for Energy Star tax credits.
106. You could try to make your own repairs around the house instead of hiring someone to do the work for you.
107. If you do find that you need to hire a contractor to get work done, don’t sign any contract that requires full payment without first confirming that your work is successfully completed.
Laundry
108. A great way to save money is to line dry your clothes. You can save on dryer sheets as well as your energy.
109. If you want to spare your hot water, consider washing all clothes in cold water.
110. Use vinegar instead of fabric softener or consider skipping fabric softener altogether.
111. Look online for ways to make your own laundry detergent to save money.
Phone, Television and Internet
112. Instead of paying for Internet, use your local library for online activities.
113. If you have the Internet, get rid of your cable TV and watch your favorite shows online.
114. Some people can’t part with their cable; if you can’t then bundle your cable with phone and Internet to save money.
115. Also, you could use your cell phone for phone service, Internet and television needs.
116. If your cell phone is too expensive, switch to a prepaid cell phone that doesn’t allow you to talk excessively.
117. If you have a cell phone or land-line with long distance, review your phone bill to see if calls match those you’ve actually made.
Utilities, Heating and Cooling
118. Instead of racking up a trash bill, recycle your items.
119. Haul your own trash to the dump rather than having the service pick it up.
120. Wash dishes by hand instead of running the dishwasher several times a day to save water costs.
121. Set your thermostat lower or higher depending on the season.
122. You could weatherproof your home to save a ton on electricity.
123. Unplug your electronics at night to avoid using phantom power.
124. Also, use a power strip to conserve energy.
125. If you have a programmable thermostat, use it so that you never forget to adjust the temperature in your home.
126. Save on water costs by turning your water off when brushing teeth, shampooing or shaving.
127. Check your gas and electric meters and compare them to your bills to make sure you’re being billed accurately.
128. If your electric or gas bill gets high in the summer, see if your utility offers budget billing options.
129. Another idea is to consider composting instead of the regular trash service.
130. Try using LED or CFL lights instead of incandescent bulbs.
131. Check the insulation in your home to ensure no heat or air are escaping and increasing your energy costs.
Insurance (Health, Life, Auto, Home)
Insurance costs can easily increase due to adjustments outside of your control, but by making your own adjustments, you might see these costs decrease some.
Auto Insurance
132. If you’re with a company now, comparison shop with other companies to make sure you’re getting the best deal.
133. Look for insurance discounts for being a student, good driver, shopping online, etc.
134. You could consider pay-as-you-drive discounts if you’re not too afraid of the Big Brother element.
135. Be a good driver to avoid having your record come back to haunt you.
136. Find out what your insurance score is and how it affects your auto insurance rate so that you can save even more.
137. If you do decide to switch insurance providers, be sure to cancel one policy before moving on to the next to avoid paying for two at once.
138. You could increase your deductible to lower your premium, but do this only if you have the deductible sitting around to pay if in an accident.
139. Pay your insurance premium in full to receive a one-time payment discount.
Health Insurance
140. Look for co-pays instead of co-insurance to pay less per doctor or hospital visit.
141. Review your health insurance policy annually to make sure there are no changes to make (ex. removing dependents) that could save you money.
142. Look for low-cost coverage through your local or state government if you’re having a hard time paying for coverage.
143. You could ask your doctor to prescribe generic medicine to take advantage of free and low-cost prescription drugs.
144. If you’re paying cash, ask your medical provider or hospital for a discount.
145. Open a flexible spending account to make paying for medical care easier on your taxes.
146. Maintain a healthy diet to avoid doctor’s visits.
147. Also, give up smoking and other unhealthy habits to reduce your risk of long-term illnesses.
148. Exercise to improve your health, which saves money on doctor’s bills.
149. Volunteer at your local YMCA in exchange for a free membership, which could save money and keep you healthy.
150. Use non-allergenic items around the house to avoid frequent doctor’s visits and high drug expenses.
Home Insurance
151. Consider a multi-discount policy with your current insurer to save money on your homeowners insurance policy.
152. As with auto insurance, always shop around for low home insurance rates.
153. Make sure to purchase enough coverage for your house and contents so that your home can be rebuilt in its current condition without you having to come out of pocket.
154. Make a list of your home’s contents so that if you lose items in a fire or natural disaster, you can prove they should be covered.
155. Take pictures of the contents in your home to back up your list.
156. Keep your important receipts in a fire-proof safe to additionally back up your list.
Life Insurance
157. Buy life insurance protection now to ensure your family has no financial hardships later.
158. Consider term life insurance if you want to save money by purchasing coverage for a specific number of years.
159. Or purchase a permanent life insurance (whole, universal, variable) if you want to add investments to your life insurance coverage.
160. Make sure to keep your life insurance policy safe so that your beneficiary can claim it when the time comes.
161. Obtain lower premium payments by maintaining good health and not smoking.
162. Shop around for affordable coverage online to find the best rates.
Special Occasions and Holidays
Sometimes special occasions like weddings could make a significant impact on your finances. Also, holidays can add on to your expenses.
Holidays
163. Since some items go on sale after a holiday, pick up items after the holiday is over to find great discounts on decorations and more.
164. Purchase gift cards to avoid wasting money on something your recipient doesn’t want.
165. If you receive a gift card you don’t want, sell the gift card online or trade it for another card of equal value.
166. Since Christmas is often the most costly time of the year, save for Christmas presents through the year by taking advantage of seasonal sales and discounts.
167. Take advantage of free holiday events like light displays during Christmas or free Easter egg hunts at your church.
168. Get creative on Valentine’s Day with gifts that require more thought than money.
Special Occasions
169. If you’re getting married and want to cut corners on the wedding, find out how to save more, get married at a courthouse or have a small wedding at the house.
170. Make your own centerpieces and visit discount party supply stores for your bridal shower, baby shower or wedding reception.
171. Instead of hiring a DJ for your special occasion, burn your own CDs.
172. Cook your own food or ask for volunteers to bring food to avoid catering costs.
Transportation and Travel Costs
Whether traveling by plane, train or automobile there are costs to pay whenever you take a trip in or out of town. The question is how can you avoid high costs associated with transportation and travel?
Car Maintenance, Repairs and Gas
173. You can search for cheapest gas stations online to find the lowest prices in your area.
174. Rotate your tires regularly to avoid burning extra gas.
175. Get a regular oil change and make sure you change your spark plugs to keep your car in top running condition and avoid costly breakdowns.
176. If gas costs or car maintenance are too overwhelming, consider trading your car for something that’s not burning a hole in your pocket.
177. When it comes to repairs, check with friends and family for mechanics they trust before allowing just anyone to work on your car.
178. Join an auto club to reduce towing and minor repair costs while also receiving additional discounts.
179. If traveling to work is too expensive, consider public transportation or even riding your bike to work.
180. You could also carpool with coworkers to save on gas.
Out-of-Town Travel
181. Look for vacation packages that bundle hotel and flight costs.
182. You could consider all-inclusive vacations and cruises that take care of flights, lodging and food.
183. Take advantage of weekend specials that help lower car rental costs.
184. Another way to save is to look for deals on major airline websites.
185. Don’t be afraid of multiple connections when flying if they can save you money.
186. Try traveling by train or bus to save even more while getting a chance to see the country.
187. If you can, try to vacation during the off-season.
188. And lastly, if you just don’t have the money to travel right now, take a staycation with your family.
Ways to Save that Haven’t Been Mentioned
Check here for ways to save that you didn’t find in the other sections!
Baby Care
189. Make your own baby food in a blender instead of paying for the bottles.
190. If you can, breast feed your baby to save money and have a healthier child.
191. Make your own disposable baby wipes.
192. Use cloth diapers instead of purchasing expensive pampers.
193. Consider educating your children at home until they are school age.
Miscellaneous
194. If you need a computer, buy a refurbished desktop or laptop to save money.
195. Cancel your magazine subscriptions and instead read them in the library or online.
196. Instead of working out in at a cost, cancel your gym membership and work out at home and jog outdoors.
197. Send away for rebates every chance you get.
198. If you own a computer and need software, consider Open Source software that comes without a cost.
199. Sign up for freebies on websites dedicated to shipping out free goods.
200. Dedicate yourself to saving money this year so that next year, you will have more money in the bank than you can handle.
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