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Savings Tips 5-7

March 4th, 2011 at 07:17 pm

5) Don't use stamps, and if you do, buy forever stamps. I bought 100 forever stamps in May 2008. I still have about 20 left, and right now we only use 1 per month and that is for our mortgage payment. Everything else we pay online for free except for our electric bill. They do not have an online payment option, but they do have a drop box at the grocery store by our house, so rather then mail it in with a stamp we just drop it off there when we are getting groceries. When these stamps are gone I will buy another 100 forever stamps and they should last me another 4 years or more. Also watch for stamp prices to go up and make sure you buy before the increase.

6) Don't spend money on personalized items that you can get for free or cheaper for normal items.
Examples:
- License Plates - You already have to pay registration fees, don't waste money paying for vanity plates.
- Checks - Many banks offer free checks if you get the plain blue or gray checks. Why pay for ones with the Flinstones or puppies on them?

7) Avoid bank fees. Overdraft fees, ATM fees, LOC (Line of Credit) fees, interest. They are all stupid ways to spend your money. An easy way to avoid a lot of fees is to just keep a checkbook register. Either paper register or on Excel or mint.com. Whatever works best for you to make sure you know what is in your account. A LOC will keep you from becoming overdrawn, but most have either a yearly fee, or a fee every time it is advanced. LOC also usually accrue interest while you are using the funds. I avoid this by keeping my own LOC called my cushion (see my post called "My Cushy Cushion") so if I make an error in my register or we just are a little short when a bill is due I know I have an extra cushion in there to cover it till the next deposit.

1 Responses to “Savings Tips 5-7”

  1. Jenny Says:

    A lot of banks also offer online banking and you can pay your mortgage directly and you do not have to pay for the stamp?

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