It is time to think out of the box when traditional tips don’t help you to save dollars. You’ll have to search for the creative tips to extract extra cash and ignore the usual rules. Read along to know about some tips that may at first seem odd, till you’re able to save extra dollars in 2012.

Unconventional tips to save more in 2012

Check out some uncommon tips to squeeze extra dollars from your wallet

1. Say no to automatic banking: You may get stunned to read this tip. After all, automatic banking helps you to pay your bills on time. It probably saves you the late fees and penalties. Nevertheless, the automatic bill payment system makes it quite easy to overlook what you’re actually purchasing and spending. Read the rest of this entry »

Summer vacations are over. Children are all set to go back to their schools and studying. Parents are ready to hit the stores for purchasing the school clothes and bags. It is one of the biggest consumer events of the year wherein families spend as much as $603 on school items.

Have a look at the article to know about the 5 tips that may help you cut down the school expenses this year.

Tips to cut down the school costs this year

Here are the 5 interesting tips to help you cut down the school costs this year:

1. Glance through your kid’s wardrobe: Your children may ask you to buy new school uniform for them. But this does not mean that you should rush to the shops the very next day. Have a look at the wardrobe of your kids. Find out whether or not they really need new uniforms. Buy only those items which they really need.

For example, you can purchase a shirt for your son and a skirt for your daughter. You don’t necessarily have to purchase 2 pair of uniforms for your kids.

2. Go to the shop alone: Research shows that parents tend to purchase more items when they go for shopping along with their children. Children often create a scene in the shop to make the parents purchase their favorite items. So, it is better to go to the shop alone. Write down the items you need to purchase in a piece of paper. Buy only those items in the shop.

3. Create a budget: Tell your children clearly about the amount you’ll spend on shopping. For example, you can set aside around $250 for shopping. Encourage them to finish their shopping within $150 and keep the remaining $100 with them. This will motivate them to spend less.

If your kid has earned some money during the summer vacation, then you can ask him/her to purchase the school books, bags, clothes, lab equipments, etc. This will make your kid spend money cautiously.

4. Purchase second hand books: Books and copies are quite expensive nowadays. You can purchase second-hand or used books at a low price. You can also ask your kid to issue books from the school library. He can just take photo-copies of the important chapters and return the book to the library.

5. Buy durable products: Parents often have the tendency to purchase cheap products for saving money. But one thing they tend to forget is that the cheap products don’t last for a long time. They will have to purchase the same products very soon.

Instead of purchasing cheap products with trendy stickers and logos, parents should buy durable goods. It is advisable to buy goods that will last minimum 2-3 years. This will help them to save money in the long run.

Finally, purchase goods in bulk so as to get heavy discounts. The retailers will give you heavy discounts for purchasing products in bulk. This will enable you save more and spend less.

Glance through the financial tips for the 3rd week of July 2011

Tip no 1 – Self help is debt help

Completely true! If you are going through debt problems in life, then you should try to solve it yourself. You can browse through different personal finance websites and gather knowledge on the tips to become debt free. This will help you avoid paying the fees charged by the companies offering debt relief programs to the consumers. You won’t have to depend upon a third-party to resolve your debt issues. Apart from that, you can gain substantial knowledge on how to manage your finances perfectly. This way you can avoid getting into a debt crisis in future.

Tip no 2 – Rather go to bed without dinner than to rise in debt

This comment by Benjamin Franklin deserves a special consideration in the present economic scenario where millions of consumers are engulfed with debt. You should try to manage your personal finances efficiently. Try to maintain your expenses within your income. Follow a frugal budget in your daily life. Avoid using credit cards to fund your dinner when you don’t have money to afford it. You’ll not die if you skip one dinner.

Your main motto in life should be to keep your debt problems at a minimum level. Better don’t incur debt at all! Lead a simple life and try save money regularly.

Tip no 3 – Consider a lesser mortgage amount than the maximum you can afford

You should determine the maximum home loan amount you can actually afford. This will help you avoid getting debt problems in future. Use mortgage calculators to determine the amount you can easily afford. If you take out a huge loan which you can’t possible repay, then you’ll definitely get into mortgage debt problems in future. You’ll get delinquent on the loan and your credit score will drop significantly. Your lender can foreclose the property against which the loan has been secured. This means you’ll lose your property. Surely, you’ll not want to get into this kind of a situation in future.

Tip no 4 – Always make a list while going for shopping items and don’t buy anything that’s not in your list

Yes, you should note down the items you need to buy in a piece of paper before hitting the nearest local departmental store. Go to the shop and buy as per your list. You will find a wide collection of items displayed in the shop. You may even be tempted to purchase some of the items. But you should resist that urge by all means. It is a sheer waste of money to buy the items you don’t possibly need. You should inculcate this habit to your kids also. This way, they will never waste money when they grow up.

Tip no 5 – Before purchasing an insurance policy, go through the policy exclusions

When you go to an insurance company for buying a policy, you should read its terms and conditions thoroughly. Every insurance policy provides you with some coverage and with a few exclusions. You should gather knowledge on both the coverage and the exclusions. This way you can have a clear idea as to what you will actually get from the insurance policy.

For instance, if you work as a salesman for a certain period of time, then don’t think that the auto insurance company will provide coverage if you meet an accident. This is because commercial deliveries are usually excluded from such insurance policies.

Not many people regard July as a great shopping season. However, there are some products which you can get at a relatively low price in this month. You can grab some exciting deals in this month. All you need to do is choose the products wisely. Have a look at the article to know about the 5 must buy items in the month of July.

Purchases you can make in the month of July

Here are the 5 items you should definitely grab in this month:

1. Woolen clothes: Purchasing a sweater/woolen garment may seem to be weird idea in the hot month of July. After all, what is the point of purchasing a sweater when the sun is shining in the sky in its full glory? However, the market experts are of the opinion that this is the best time to purchase woolen garments. This is because you can get a sweater by paying half of its original price. You can keep these garments for the winter season.

2. Butter: There has been a tremendous increase in the production of butter in the month of June and July. The supply of butter is more than the current market demand. This is why some of the retailers are offering heavy discounts on it. So, if you love to have lots of butter in your food, then hit the nearest departmental store, and buy as much butter as you can. You can keep store butter in your refrigerator and use it in future also. Read the rest of this entry »