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1. Take Advantage of Coupons and Discounts

Coupons and discounts are a great way to save money on things you would normally buy. Look for coupons in newspapers, online, or through loyalty programs. Additionally, many retailers offer discounts for students, military personnel, and senior citizens. Taking advantage of coupons and discounts can help you save a significant amount of money over time. It may take a little extra effort to find them, but it’s worth it in the long run.

2. Cut Back on Eating Out

Eating out can be expensive, especially if it becomes a regular habit. Instead, try cooking more meals at home. Not only is it cheaper, but it can also be healthier and more satisfying. Invest in some good cookbooks or search for recipes online to inspire your culinary creativity.

3. Shop Around for Better Deals

Before making a purchase, compare prices at different stores or online. You might be surprised at the price difference for the same product. Also, consider buying generic or store-brand items instead of name-brand products. They are often just as good and cost less. Shopping around for better deals is an important habit to develop. It can help you save money on everything from groceries to electronics.

4. Use Cash Back Programs

Many credit cards offer cash-back rewards for purchases. Look for a card that offers rewards for things you buy regularly, such as groceries or gas. Just be sure to pay off your balance in full each month to avoid interest charges. Using cash-back programs can be a great way to save money on everyday purchases. Just make sure you use the rewards wisely and don’t overspend.

5. Cancel Unused Subscriptions

If you have subscriptions for services or products you don’t use or need, cancel them. This includes streaming services, gym memberships, or magazine subscriptions. Take a closer look at your bank statements and identify any recurring charges that you can eliminate. Unused subscriptions can add up over time and drain your bank account. By canceling them, you can redirect that money towards things you actually use and enjoy.

6. Borrow Instead of Buying

Instead of buying books, movies, or video games, consider borrowing them from your local library. Not only is it free, but it’s also a great way to discover new titles and authors. You can also borrow tools or equipment from friends or neighbors instead of buying them.

7. Shop Secondhand

Shopping secondhand can be a great way to save money on clothing, furniture, and household items. Check out thrift stores, consignment shops, or online marketplaces for gently-used items at a fraction of the cost of new ones. Shopping secondhand can be a fun and rewarding experience. You can find unique items and save money at the same time.

8.  Cut Back on Utilities

There are many ways to reduce your utility bills. Turn off lights and electronics when not in use, use energy-efficient light bulbs, take shorter showers, and adjust your thermostat. Additionally, consider installing a programmable thermostat that automatically adjusts the temperature based on your schedule. Reducing your utility bills not only saves you money but also benefits the environment. Small changes can add up to significant savings over time.

The post 10 Ways to Save Money Without Sacrificing Your Lifestyle appeared first on One Cent At A Time.

Find the top 10 ways to save money on car rentals.

1. Compare prices

Comparing pricing from several rental vehicle providers is the first step in cutting costs when you rent a car.

Find the greatest bargain by taking the time to compare shops. You may utilize internet price comparison tools to discover the greatest deal.

Instead of accepting the first offer you are given, keep looking at it since you could find a better one.

2. Book in advance

Reservations are one of the greatest methods to get a deal on a rental car. This will offer you more time to shop around and compare prices.

Additionally, making a reservation in advance will increase your chances of receiving the automobile of your choice.

3. Select a Smaller Automobile

Size counts when renting a car. Rental rates for smaller automobiles are often lower than those for bigger ones.

In addition to being less expensive to hire, they also have a higher gas economy, which will enable you to spend less on gasoline.

Therefore, get a smaller automobile if you don’t require a large one.

4. Avoid Extra Fees

Extra fees can rapidly mount up and drive up the cost of your rental automobile well beyond what you had anticipated. Sometimes OTT platforms do offer discounts when you combine flight or hotel reservations with car rental reservations. 

Refill the petrol tank before returning the car and steer clear of one–way rentals if possible to avoid paying these costs.

5. Rent During Off–Peak Times

Car rental rates are often higher during peak travel times, such as holidays and weekends. Try to hire a car at off–peak hours when demand is lower to save money. If you can, think about renting during the week rather than over the weekend.

6. Look for Promotions and Discounts

Customers may take advantage of sales and discounts from several automobile rental agencies. Keep an eye out for these offers, and take advantage of them when you can.

\Check the automobile rental company’s website, sign up for their email newsletters, or browse bargain websites to uncover deals and discounts.

7. Saving at tourist destinations

Dubai is a well–liked tourist destination, and it is simple to understand why. There is something for everyone in Dubai, from its stunning beaches to its cutting–edge architecture.

Even if your budget is not enough to rent a car, you can always use the well-appointed transport of Dubai. Think about the aforementioned advice if you need to rent a car for your vacation to Dubai to save money.

You can also choose among 1000+ weekly car rentals in Dubai, there are several automobile rental agencies, so be sure to check costs and pick the one that is ideal for you. You can even find rare and luxurious cars that look like they are from the movies.

8. Consider Alternative Options

There are many factors when choosing a car. Instead of hiring a vehicle, think about using the public transit system, ride-sharing services, or renting a bicycle. These choices frequently cost less than automobile rentals and are more ecologically friendly. Spend some time weighing your alternatives before deciding which is best for you.

9. Pick the Right Location

Where the automobile rental company is located might have an impact on how much you end up paying.

For instance, renting a car from an airport location may cost more than renting from a place farther from the airport. Take into account both cost and convenience while selecting a place. Also if you ever 

10. Refill the Gas Tank

Make care you refuel your rented vehicle before returning it. It’s usually preferable to fill up the tank yourself before returning the rental car because many rental car companies charge extra to gas the vehicle.

By doing this, you may avoid paying any additional costs and guarantee that you only use the gasoline that you paid for.

In conclusion, by following these tips, you can save money when renting a car.

By comparing prices, booking in advance, opting for a smaller car, avoiding additional fees, renting during off-peak periods, and looking for promotions and discounts, you can stretch your budget and make the most of your car rental experience.

The post Ways to Save Money on Car Rentals appeared first on One Cent At A Time.

Every year, thousands of high-skilled and executive class temporary visa holders (H and L classes) travel to this country. Some of them stay back, apply for residency, and eventually citizenship, but, a majority go back to their home country with the money saved during their stay here in the US.

Typically, these visa workers spend 2 to 3 years in the US working for multinational corporations, mostly in Hi-tech industries.

Legally, they can only spend up to 6 years before renewing their visa. With the median household income around $67,000, these visa holders earn a lot more than that. Often their spouses work, doubling the household income.

If the worker has enough experience or holds a manager or a team leader position, their salary often reaches $150,000 or above.

Naturally, they earn way more than average Americans. Many travel here without their spouses or children to keep the cost of intercontinental flights and the cost of living in check, especially if the deputation is for a shorter term.

The two largest contributors to this flow are India and China, the two countries with perhaps the deepest family tradition. Their extended families take care of the immediate family members during this temporary foreign work assignment.

These folks are the creams of the crop in their respective countries – they are highly educated, intelligent, and hard-working people with average IQ well above the average human IQ level. They mainly work in the IT or science and technology (STEM) sectors.

Not every skilled visa worker lives a life of extreme frugality though, there are many exceptions. Still, the frugal practice is quite widespread and pretty consistent among most.

From the outside, you may like living in poverty, driving a 15-year-old car, and wearing age-old dresses. You can easily distinguish them in a crowd. They buy the cheapest of everything, from soap to salt. They don’t care what other people think about them.

Readers welcome to the world of short-term extreme frugality demonstrated by non-immigrant visa workers.

With just a couple of years of living in the US, they go back to their home country with a fortune and live life happily ever after. Often their home and car loans are paid off in full with the saved money.

They always stay in groups, with 3 to 4 people sharing a 2-bedroom apartment, and the roommates share a rental car. sometimes, they buy an almost junk car for the sole purpose of commuting to work and weekly shopping trips. They manage the household budget and expenses like professional financial experts, pinching every penny, counting every cent!

They buy bare minimal things every week, just enough to survive until the weekend. On the contrary, when they finally return to their home countries, they go back with expensive gadgets, brand-name clothes, perfumes, shoes, and accessories for their loved ones.

They cook their meals, mostly buying raw meat and vegetables and ingredients. They don’t eat out. Often they get all the cookware and other household stuff from someone ready to head back home. It’s a cycle of acquiring and giving things for free.

I know many such visa workers, some of them were my colleagues.  To give you some numbers to prove my point, let’s consider the case of 4 of my co-workers. They shared an $1800 per month apartment and a $1000 per month rental car.

Considering $200 per month towards gas, their per-person cost of housing and transportation was only $750. They had a food cost of $300 per month per person, as they cooked most meals at home. Then, if you add another $150 toward entertainment and utilities, per person.

Total per person, per month cost comes out to be $1100. This is living below $15,000 a year!

Every purchase they made involved bargain hunting, from hand-me-downs to couponing to deal hunting. They spent hours browsing shopping and deal sites for freebie offers and price mistakes. They never bought costly items. The ones they did were for carrying to their home country.

Going back to the general population of visa workers again, they sleep on couches or mattresses made of comforters. They sleep on the floor. They buy very basic cookware and personal care items if they at all need to buy them. They hunt garage and yard sales. For them, it’s a passing phase of life where they only accumulate wealth.

With the money saved, they live a life of abundance and luxury back home. Now, let’s calculate their savings, if I may.

These skilled visa workers command a high salary due to their superior human capital. Now, consider a salary of $10,000 per month (an annual Salary is $120,000 is quite normal for highly skilled professionals).

After taxes and insurance, the net take-home salary comes down to $7,000 a month. With an expenditure, as calculated above, of $1100, monthly savings is $5,900. Rounding off the saving to $5,500, they manage to save $66,000 in a year. At this rate, within 3 years, they accumulate a fortune of $200,000!

Back in India (and even in China), $200,000 is enough money to buy a large house and a car with cash. With a longer stay in the US than 3 years, their retirements get secured as well. Due to the higher purchasing power of the local currency compared to that in the USA.

Before you feel that they don’t live a fun life during their stay here, they do live a fun life. It’s just that they grow richer One Cent at a Time.

They do enjoy all types of frugal fun. In just a few years, they cover pretty much all the tourist attractions, securing the lowest airfare and stay through deals and offers.

They create lasting memories of their stay here. They pick the priciest gifts for their loved ones back home. Yet, they do not even visit the cheapest of restaurants, rather they cook meals. They buy cars that barely run. They always thrift their clothes.

I am not at all against this lifestyle. once I was one of them. Before my marriage, I stayed in the US for two months on a business visa. In those two months, I saved enough to fund my marriage along with the engagement ring. It was a great relief to my retired parents who otherwise had to fund our marriage, as per the Indian customs.

These visa workers are the biggest contributors to the growth of the overall IT industry in the world. On any day, as a group, they are sharper than any other group of individuals. The philosophy of their lifestyle is delayed gratification- have pain now to experience comfort later.

The reason behind this article is to encourage self-imposed and short-term hardship. Delay gratification and living below means for a couple of years can make a major difference in your financial life.

Whether to become debt-free or to build wealth, all you need to do is control spending and exercise self-discipline, as these visa workers do.

Few things that I think can be learned from their way of living.

Have a Goal: They set a goal to save as much as possible for a home, a car, retirement, etc.

Motivation: They are constantly motivated. Each day of hardship cuts the remaining days of hardship by one. When the goal is set it’s easy to keep motivated towards saving.

Reward: Saving is no fun without a reward. They go out and see places, and tourist attractions. They buy the latest and best gadgets and take them home to own for a lifetime.

They spend on self-improvement: I know many of them learning Spanish, Salsa, Zumba, Karate, etc. They try to take maximum advantage of their stay here. Back home either these lessons are not available or are usually costlier. They almost always make good use of the community gyms.

Watch out for pitfalls

I feel that being an American going all-out into extreme frugality is not a very good idea from a long-term perspective. When constant couponing and deal seeking and delayed gratification becomes a habit they tax your personal happiness. It may cause household tensions.

So, make fun a part of a constant routine, spend on things you enjoy and have absolute tight grasp on everything else.

Temporary visa workers can even neglect small health-related issues while they are in this country. They get their annual leaves to go back home. It provides a good opportunity to access health care at a much lesser cost. You being permanently in the US do not have this flexibility. Do not let health issues unattended. If you do, you may run into a bigger healthcare cost later on.

By sowing frugality, we reap liberty, a golden harvest.  ~ Agesilaus

Readers, share your opinions!

The post Living Well on Less Than $15,000 a Year: Habits of Skilled Visa Workers appeared first on One Cent At A Time.

It’s impossible to completely transform your financial outlook overnight, but the changes you make today will affect your entire financial future.

These are ten habits to save more money that you can develop right now

Focusing on Debts

Physicians and other high-income professionals often graduate with costly student loans, and you might also go into debt on a credit card, auto loan, personal loan, or other forms of credit.

While contributing to debit balances doesn’t put any money in your savings account, you’ll almost always end up saving money by paying off debts as soon as you can.

Debts accrue interest every month, and credit cards come with interest rates as high as 15 to 20 percent.

Rather than simply making the minimum payment each month, try to pay off as much as you can afford. Once you’re debt-free, you can start putting most of that money into savings.

Refinancing

If you’re struggling with debt, it might make sense to refinance your balance to pay a lower interest rate.

Some refinancing services also allow you to consolidate your debts, making it easier for you to make your payments each month.

In addition to reducing your interest rate, refinancing sometimes leads to a lower minimum monthly payment, allowing you to pay off debts with less of an impact on your budget.

Shop around and compare refinancing options to see if there’s one that matches your needs.

Balance Transfers

Balance transfers offer some of the same benefits as refinancing for credit card debt, and many credit card banks offer low balance transfer fees along with an extended introductory period with 0 percent interest.

If you’re currently paying off significant credit card debts, a balance transfer could drastically reduce or even eliminate your interest.

You can also take advantage of introductory periods to finance major purchases without paying any interest.

If you want to spend $9,000 on a car, for example, you could apply for a new credit card that offers 15 months without interest.

From there, you could contribute just $600 per month to pay off the entire balance by the time the interest kicks in.

But this can be a huge trap for people who can’t handle their credit cards. 0% balance transfer offers are one of the major reasons behind huge household credit card debts.

Prioritizing Debts

If you’re struggling with multiple debts, you might not know how to approach your payments each month.

While you should always make at least the minimum payment, there are a variety of ways you can use any extra money.

Many financial experts recommend starting with the debt with the highest interest rate, but the cash flow index is more effective if you’re interested in increasing your cash flow.

There are a few different strategies you can use to pay off your debts more effectively.

Debt Snowball

The debt snowball, popularized by Dave Ramsey, recommends contributing extra money to debts with the smallest balance first.

From there, you can gradually move to your largest debt. This method doesn’t consider interest rates.

Rather than helping you get out of debt more quickly or with less interest, the snowball is simply intended to be easier to stick to than the other options.

If you’re having trouble contributing more than the minimum payment, starting with smaller debts will help you gain some momentum.

Debt Avalanche

The debt snowball strategy is better than simply making minimum payments, but the debt avalanche is more effective for minimizing interest.

This method involves prioritizing debts with the highest rates, then moving on to those with less interest.

Since the debt avalanche is focused on interest, it’s mathematically the best way to get out of debt while paying as little in interest as possible.

Every month you wait to pay off debts with high rates will add a significant amount of interest to your total.

Cash Flow Index

While interest is an important consideration when it comes to debts, the cash flow index takes into account how each debt impacts your cash flow.

To calculate the cash flow index of each debt, divide the total balance by the monthly minimum payment.

High minimum payments take more out of your cash flow each month, so paying them off first will give you more money to use.

This strategy is especially effective if you plan to use the new cash flow on investments, a 401(k) employer match, or something else with a high return.

In these cases, you can generate more income than what you pay in interest, making it more efficient to use the money elsewhere rather than paying off a low-rate debt with a low cash flow index.

Each of these strategies offers its pros and cons depending on your financial priorities. That said, you should use whatever method you feel most comfortable with—the most important thing is finding an approach you can commit to.

Budgeting

It’s easy to spend too much if you’re not keeping track of expenses, and budgeting is one of the first steps toward a healthier financial future.

A clear budget outlines exactly what you can afford to spend on each category and makes sure you have enough to cover everything each month.

Without a budget, it’s much more difficult to identify problematic spending habits. Once you’ve reviewed a few bank statements, you’ll have a better understanding of what you can improve.

If you don’t like the idea of budgeting on pen and paper, use a budgeting app to monitor and categorize each transaction.

Keep in mind that it’s easy to maintain minor, gradual changes, while it can be much more difficult to stick to major changes if you try to make them immediately.

Start with small, realistic goals each month and give yourself something to build on in the future.

Building an Emergency Fund

Most American workers live paycheck to paycheck, and that’s an unfortunate necessity for a significant percentage of our population.

That said, you may be able to make more room for savings each month once you’ve managed to reduce your spending.

Without an emergency fund, you won’t have any money to fall back on if something happens.

Anything from an illness or injury to losing your job can have an immediate impact on your finances, and it’s important to be prepared for these possibilities.

Many financial experts recommend saving enough money to cover three to six months’ worth of expenses.

Even if you can’t reach that goal immediately, whatever you can contribute will still make a difference.

After debts with high-interest rates, an emergency fund should be one of your top financial priorities.

Saving for Retirement

You might think of retirement as something to think about later, but it’s never too early to start saving for your future.

Most Americans don’t have enough in retirement savings, and starting now will make it that much easier to reach your retirement goals.

If your employer offers 401(k) matching, make sure to contribute enough to receive the full match.

My employer matches dollar for dollar for up to 6%. Meaning if I contribute 6% or more, my employer will also contribute 6%. If I contribute ony 2% then my employer will also contribute upto 6% of my gross income.

Employer matching allows you to effectively double that portion of your income, so it’s one of the best ways to use your money.

Yearly contributions to 401(k) accounts and IRAs are limited, so it’s important to get started as soon as possible.

That said, you can go over those limits once you reach the age of 50 if you need to make catch-up contributions. This is one of the best ways to catch up on your retirement savings.

It’s important to have concrete retirement goals, and it’s easy to underestimate how much money you’ll need once you stop working.

Most people continue to spend close to as much as they did when they were employed, so you should have enough saved to cover expenses for many years.

The earlier you start, the less of your income you’ll have to contribute to reaching that goal.

Staying Committed

People often find it easy to budget for the first few days or weeks, but it can be tough to stay committed over a longer period.

Maintaining your motivation is one of the biggest challenges when it comes to saving money.

If you’re having trouble sticking to a budget on your own, consider talking to a close friend or family member about your situation.

Ask them to hold you accountable and check in periodically to make sure you’re on the right track. This way, you’ll have something to keep you motivated when you’re tempted to spend beyond your budget.

Accounting for Major Purchases

An emergency fund protects you from surprise expenses, but many other major purchases can be equally damaging to your budget.

It’s important to budget for cars, weddings, gifts, and any other expensive items well in advance.

If you don’t think about a $500 expense until the month it comes up, for example, it could be impossible to pay for it without going over budget or into debt.

Instead, think about that cost six months earlier and deduct one-sixth of the cost from each month’s budget. This strategy spreads the impact over a longer period of time and makes it easier for you to adjust.

Remember that it’s always best to avoid going into debt if possible, especially if you’ll have to pay interest.

If you can save in advance and buy these items in cash, you won’t have to worry about them after leaving the store.

Even without interest, finance plans lock you into long-term payments that you could have to default on if your financial situation changes.

Monitoring Your Credit Score

Your credit score has a significant effect on your ability to qualify for credit cards and loans, and a good credit score will also lower your interest rates.

It takes time to improve your credit score, so you should start thinking about it now rather than waiting for it to come up.

Some of the most common causes of a poor credit score include missed or late payments, defaulting, and high credit utilization.

Try to use no more than 30 percent of your credit limit each month, especially if you’ll need a line of credit in the near future.

The average age of your accounts has a small impact on your credit, so opening a new account will slightly decrease your score, although the effect will lessen over time.

Hard pulls on your credit will also have an impact on your score. Try to avoid opening any accounts in the months before getting a new line of credit. 

As a rule of thumb, you shouldn’t open a new credit card or another loan for a year preceding a mortgage application.

Investing

Putting money in a savings account will generate some interest, but you can earn a lot more by investing your extra cash.

Investing can be confusing at first, but you’ll quickly develop a strategy that matches your budget and financial goals.

There are more tools than ever to help new investors get started, and you can earn substantial returns even with a small initial balance.

Set up automatic contributions and include them in your budget each month. Once you get in the habit of investing, you won’t even miss the money you contribute.

Creating Measurable Goals

There’s nothing wrong with budgeting just to track your spending, but you can get more out of it by developing clear short- and long-term goals.

Having something to work toward also makes it easier to identify successes and failures.

Instead of just trying to “save money” for example, try to save a certain amount each month for something important like investments or retirement.

Knowing that the money is going to something you care about will give you extra motivation throughout the month. You can always change your goals later if you under- or overestimated how much you could afford to save.

It’s easy to fall into bad financial habits, but you can get back on track quickly if you’re committed to saving more money. These are some of the best ways to improve your money mindset and put yourself in a better financial position.

The post Develop This 10 Habits to Save More Money appeared first on One Cent At A Time.

Charity begins at home, you start today, your neighbor starts tomorrow and the whole city starts doing this sooner than you realize, how about that? No, I can’t be that optimistic; but what’s the harm in throwing the idea around?

Are you in it?

A baby step from all of us can make a sea change in the environment.

Let our leaders come out of environmental protection agreements, let them neglect the environment for the sake of cheap votes.

If you can help them get voted out of power, then that will be your biggest contribution!

On a personal front, you don’t keep quiet either, do something today, whatever you can, and let’s make this planet a better one for our children.

Don’t blow it – good planets are hard to find. ~ Quoted in Time

Various ways you can help save our environment

Steps to limit pollutants we create

We all pollute the environment we live in, I do, and your dog does too. It’s very much in our control to reduce this pollution.

1. Use your voting power – Use your biggest power to save the environment. No matter what effort you bring on. Unless there’s a governmental-level policy change, the world’s climate is not going to improve much. Unfortunately, we have political leaders who deny climate change. But very soon we will lose a vast amount of landmass to the rising seas, these leaders don’t believe it. Let’s vote them out of power. Let us hand over the planet to leaders who work for the environment. This is the single most significant technique to save our environment.

2. Stop using bottled water. This may be very hard for many, I understand. If it’s not that hard for you, start using reusable materials and fill it up every time.

3. Stop smoking. Smoking creates pollution inside of your body and for the people around you. Even after hours of smoking, your kids can be recipients of the harmful effects of your nicotine consumption.

“The pollution caused by cigarettes does not stop in our bodies or the air around us; it also affects the land we live on and the water that we drink. Millions of cigarette butts are discarded on to the ground every day“.

4. Use less electricity. There are various options to save on electricity, I can write an entire post about this. The easiest of the ways is to use a fan instead of an AC if you can. Air drying clothes, letting sunlight come in the winter, and blocking it in the summer are other easy options to try out at your home.

5. Use less gas. Bike to work, carpooling is the easier option you can try. There are various other effective ways to save on gas.

6. Recycle. Recycle often. Don’t just throw your old electronics and batteries into trash. Make use of local free recycling facilities. Dispose of your plastic containers as well by separating them from normal trash.

7. Use reusable shopping bags. It was my wife’s idea to start using reusable bags. They are made of cloth and need cleaning once a week. We eliminated a lot of plastics from our life this way. You can do the same.

8. Buy fresh local produce. Whenever you have the option to buy from the farmer’s market or local grocers, give a preference for buying local. Processed goods take a lot of energy, first for the processing part and then, the fuel consumption in transportation.

9. Save water. Sweetwater is a scarce resource and it’s being depleted at a greater pace than earth is replenishing it. There are various ways to save water in everyday use from fixing leaky outlets to adjusting the timers on sprinklers.

10. Go paperless, and save the environment. Sure you can’t stop advertisement leaflets coming into your mailbox (shouldn’t there be an environmental law to ban this practice, or at least, be made it mandatory to use recycled paper?) but, you can control the statements, updates, and notices which you get from your financial institutions.

Select paperless as the mode of communication. Mostly all of them support this. It’s high time that all govt. agencies implement this too.

11. Use ceramic cups. Instead of plastic, paper, or Styrofoam, ceramic cups can be used over and over.  This reduces the impact on the environment and your budget.

12. Print less. Unless it’s necessary to print, refrain from doing so.  When you do have to print, consider printing on both sides of the paper.

13. Buy items with recycled materials. For example, you can get two types of coffee cups. One with fresh paper and one with recycled paper. You can identify it by reading the label on the pack.

14. Reuse and repurpose. Whenever possible, re-use the containers, cartons, and envelopes. Oh, your toothbrush as well! For cleaning my sports shoes, I use old toothbrushes, it goes into the grooves perfectly. Here are 30 ways to reuse bottles and containers.

15. Use energy-efficient items. In the long run, these save a lot of money and energy. Bulbs use LED bulbs, even fluorescent light bulbs consume 1/3rd (or lesser) of the energy of incandescent light bulbs. For other equipment like AC, refrigerator, washer, etc buy Energy Star appliances.

16. Use clothes more than paper. clothes are better than environmental paper. Reduce paper usage by using cloths to wipe your hands or the things you normally wipe with paper towels. My home is paper towel free and I use old dresses to make wipe cloths. Do you know something called a handkerchief?

17. Use the microwave.  I am not sure if you can bake cakes in a microwave. The last time I checked, my wife also didn’t know. But, she could tell me 100′s of other dishes that can be cooked in a microwave. Use microwaves more often to reduce your carbon footprint.

18. Leak-proof your home. Save the environment by making your home leakproof. Ensure you are not losing warmth or cool through leakages, by having your home properly insulated and window and door seals checked.  By doing so, you are saving energy and money.

19. Replace air filters. AC air filters for your home and car, if replaced regularly, can save a lot of energy which in turn can save you money.

20. Consume less. This is for your financial good as well. Live simply, and use your furniture and clothes until they can’t be used anymore. If possible, check out used items on Craigslist or garage sales.

Steps to absorb pollutants already created

21. Plant trees. Your garden/patio or balcony, do you have space anywhere? Grow plants, grow flowers, and attract honey bees wherever you find a place for a pot. If you have a garden, you can go on a green mission by planting as many trees as your yard or garden permits. A good-looking home and a better place to live, for sure!

22. Donate to organizations that help to plant more trees and work towards a better planet. I am a member of Fairchild Botanical Garden, here in Miami, FL. My membership dues go to green causes.

23. Pickup and deposit pollutants. Whether at home, at work, at a local supermarket, or while running or jogging, if you find a pollutant like plastic or Styrofoam on your way, pick it up and put it in a nearby trash bin.

24. Volunteer in anti-pollution drives. Many cities here in south Florida organize periodic beach cleaning events. Thousands of volunteers donate their time to these large-scale environmental cleaning events. Check in your local area for opportunities like this.

25. Have indoor plants. Indoor plants and aquatic plants (in aquariums) are very efficient in cleaning the inside air pollution of our homes.  Think about it, by spending a little money to green up our homes we are improving our health as well. In the long run, these efforts should pay off in terms of better health.

The below points are added later on

26. Drive a clean car If a vehicle emission check is not mandatory in your state, you may still go for one. If there’s a problem it can be fixed. Another way to contribute similarly is to report smoke-emitting vehicles. On searching for your local DMV or city website, you may locate to report a violation.

27. Make better use of your recycled garbage bin. If possible have two different trash cans at your home. Sometimes not all recyclable materials are put into the recycle bin. Even if you can save one piece of paper from being dumped without getting recycled, you have contributed to environmental protection.

I hope you enjoyed this article and you’ll start practicing a technique or two in your daily routine. If not all, you can easily follow a few.

I know, only a few of us practicing green living won’t change the environment around us. Still, I would like to wake up to a tomorrow where the earth is cleaner and the environment is safer to live in. I dream on…

The post 25 Ways you Can Help Save The Environment Everyday appeared first on One Cent At A Time.

After the morning ritual and when I was at the table gulping the toasts and Darjeeling tea, my wife narrated today’s list of things to buy from the grocery. The list comes twice or thrice a week. Today was a grocery day.

“We need bread, the whole wheat ones, and eggs today, for sure” My wife added “If you want to have breakfast tomorrow”

I guessed some slices and eggs were left, but it won’t be sufficient for all three of us.

“Ok after I come back from the office, I’ll go with Jr. SB and buy those, anything else?” I asked, just to make sure I heard the entire list once again.

“No, you don’t make unnecessary trips, gas prices are too high these days” In fact, gas at our local Costco is at $4.32 a gallon for the cheapest one that we fill in our Japanese cars, a Honda and a Toyota. I drive a Honda CR-V and she drives a Toyota Camry.

In fact at Costco, gas is $0.20 cheaper than the nearest Exon pump to where we live, in Austin, TX. And my 12 Gallon CR-V tank saves $2.40 each time I fill the whole tank. The 16 Gallon Camry saves $3.2.

I calculated the gas alone compensates for the yearly Costco membership fees.

“HEB is 3 miles away, and to drive a total of 6 miles, it’ll cost you about a dollar” my wife has this calculation in her mind. It’s easy to calculate, in fact.

Just use this formula, the gas cost for a trip = price per gallon *total miles driven/mileage of your car.

in my case, the calculation is $4.32*6/28 = $0.99, as my Honda has 28 miles per gallon mileage.

She was right!

“Do bring it while coming back from the office” she reminded. “It’s on the way back.”

I felt these calculations make life harder on me, but she explained years before that when you do it for the first few weeks, it’ll be in your system and you’d never feel it taxing to the brain.

We do calculations as miles walked, steps taken, calories burnt anyway and we do not take those as burdens, and the calculations we do every day at work, those are necessities. Saving money is also a necessity.

She had a few more items and I duly noted the entire list and asked for a text as well…just in case. If I am going to have a bad day then it’d come in handy.

“Is Sarah coming here or you’re going o pick her up?” I asked. Sarah is my Son’s classmate. They live two streets behind ours.

My wife and Sarah’s mom takes turn dropping them at school every day.

“Today is my turn.”

Today my wife will pick Sarah up from her home and drop them both at the elementary school, then again she’ll pick them up from school and drop Sarah at her home.

Car sharing, ride-sharing, and trip optimization do save money on gas expenses.

These are established knowledge. But she’s practicing it, and I can’t be more thankful to her.

I kissed my son goodbye and headed for the car.

On my way to the office which is 7 miles from home, there are 2 signals before the freeway and one signal after the exit.

I don’t go to the office every day, there’s a flexibility of working from anywhere at our company.

And this flexibility allows me to drive less.

Not only gas-saving but, I don’t have to buy coffee after lunch, I get no access to the vending machine and my favorite Snickers. In general, working at home is cheaper.

I have also enrolled in the carpooling community, it’s basically a slack group at my work. But, haven’t yet found any buddy who goes to the same office from the same place as mine.

On the first signal, there was a BMW next to me in the other lane, all windows down.

When the signal turned green he sped off with a ‘Bhhrrroooom’, well ahead of me. I watched his car becoming smaller and smaller as I maintained the speed limit.

By the time I was nearing the second signal, after a mile or so, based on Murphy’s law- it had also turned red. And that BMW was once again next to me!

“Buddy you just spent 25 cents more than I did from the last signal!” I told lowering my passenger side window.

“Excuse me!”

Even if he caught my Indian accent well, probably he didn’t hear it loud enough.

“You just spent 25 cents more on gas than me from the last signal” I repeated, louder.

He squinted his eyes, “What do you mean?” he asked.

“That acceleration and speed burnt more gas than my car did” I said triumphantly.

Obviously, he got as a taunt and turned the other way. Murmuring something.

Probably to show his nonchalance, he sped off once again! As soon he was able to.

In my mind, I was the winner. A good start to the day, I thought.

I came back home after 6 in the evening, with all the items she wanted from the grocery.

Over the last weekend, I checked the tire pressure and matched 32 PSI for the front and 35 for the rear tires, just as the sticker on the driver-side door prescribed. A drop of tire pressure would burn more fuel. and it’d impact the tire lives as well.

I think I am doing all I can to lessen the impact of astronomically high gas prices.

What more can I do?

I can buy a car that is more energy-efficient, probably with an Eco mode or a full EV, perhaps.

But my Honda is 5 years old only, I don’t want to trade a perfectly running car at this time. All I can do is drive as less as I can.

I go to Costco every alternate weekend anyway so, I do top up every time I am there, no matter how much gas I already have in the tank.

We go out on the weekends, we can’t cut down on family happiness. And going out makes our son extremely happy.

I also get regular servicing on both cars. A regular oil change keeps the engine efficient burning less fuel.

Non-premium cars mean we are good with the cheapest gas available at the pump.

A couple of months ago, on my wife’s instruction, I removed unnecessary things from the car. Except for the booster seat, there’s nothing heavy we keep inside the car. A lighter car burns less gas.

Note to the readers – This is a fictional story. I try to present personal finance lessons in terms of story-telling. The stories are retained by our brains longer than, how-to articles. A narration makes the lesson interesting, we all love to hear stories. Hope you enjoyed it and will come back for more. Please subscribe.

The post Fictional Finance – Save Up on Gas appeared first on One Cent At A Time.

Now that you’re an adult and have all of the grown-up responsibilities, you now wish that you could go back to the times where you had the luxuries of being a kid.

As a kid, you didn’t realize that having your car meant having car expenses, having your own money meant going to work every day, and moving out of your parents’ house meant paying rent or paying a mortgage.

Now, you can have all of those things and live comfortably as an adult but if you’re like most hard-working people, you probably have this life at a hefty cost.

As populations grow in certain cities, the cost of living there increases as well.

The rent increases and so does the car insurance. Your lifestyle and your income don’t change.

There are specific lifestyle changes you’ll need to make to end a paycheck-to-paycheck cycle.

To cut your monthly expenses (except housing and other fixed costs) in half, you must implement these three changes in your lifestyle.

Stop Eating Out and Save on Food

Whether you’re single or have a family to feed, eating out can get very expensive.

Eating fast food (meal and drink) can cost you $8 to $15 on average per person and having that two to three times per week can cost you a lot of money.

That money could have gone to savings or paid for something else more important.

Not only do Americans spend way too much money on eating out but Americans also waste lots of food too.

According to theguardian.com, 150,000 tons of food is wasted in US households each day and it’s enough to feed starving children in Africa!

It’s also been said that people who lead healthier lifestyles waste the most food due to buying so many fruits and vegetables that end up going bad and have to be thrown out.

To cut back on wasting food and the money you spend on food, take a look at the different ways to cut back on spending too much on food

• Look for coupons for food items you frequently use and consume
• Buy in bulk
• Compare prices from multiple stores
• Freeze meals that you made too much of
• Try meal delivery kits

Cut the Cord and Ditch Cable

Today, everyone is joining the bandwagon and getting rid of cable. What’s the point of having it when you can watch the channels you want but also pay for channels that you never watch?

To save on at-home entertainment, people are now getting rid of cable and streaming TV shows and movies they want to watch.

One of the most popular methods of watching TV and movies is by downloading the best torrent files.

By doing this, you’ll have access to all the movies and TV shows you love without paying for the ones you never watch.

All you need is a television, a fast internet connection, and a streaming device like a Firestick, Hulu, Sling or Roku (not all, obviously).

Once you have that combination, you can watch whatever you want, whenever you want!

And a lot of the downloads are free!

Cancel Any Memberships You’re Not Using

Do you know how many people have gym memberships and health club memberships and don’t even use them or know they have them?

Sit back and start counting your subscriptions, add them up and see how much money you’re spending. Our monthly subscriptions are (except utilities):

1. Cell phone – $125
2. Internet – $60
3. Vonage for intl. calls – $40
4. Sling TV – $10
5. ADT home security – $51
6. Amazon Prime – Yearly

We pay $276 in subscription services, excluding Amazon. See, we do not have any TV subscription. We cut the cord in 2017.

Can you cut some of your subscriptions?

If you’re not sure if you’re a member somewhere, call around to see.

Better yet, check your bank statements to see where your money is going. There are apps that can help you cancel all unwanted subscriptions.

Some gym memberships are $10 to $20 while others are hundreds of dollars but regardless, whether it’s $10 or $129, that’s wasted money that you’re not benefitting from.

Call those facilities to see what you would need to do to cancel your membership.

Some facilities only need a phone call and some will require you to pay a fee for breaking a contract but it’s better to go on and pay that fee versus continuing to pay for a service you’re not using.

The post Top 3 Ways to Cut Monthly Expenses in Half appeared first on One Cent At A Time.

Good question. I have been put into this position within the last 3 years. Then I found out that my family’s expenses were far above the income from stocks and oil properties.

That’s when it hit me: either slash my family’s monthly budget or go broke.

Talk about a wake-up call! From that day forward, I wrote down every cable bill, grocery bill, car payment, and all other utility bills to slash all of them down to their core.

While I am still in the process of eliminating unneeded expenses, I figured out that there were 4 specific ways to quickly get my monthly budget down within a six-month time frame.

Let’s begin to explore each one.

1. Getting Rid of Excessive Rent Payments

Now this one can only be done if you are ready to make some extreme cases in your everyday life.

For example, as my mother was entering her 80’s and her health was waning, I decided it was time to move her and my brother into a three-bedroom apartment.

This allowed me to eradicate more than $2,000 a month from paying for her single apartment. And, me and my brother’s $1,110 apartment. What a huge amount of money to save!

Most people reading this post may not see themselves able to make such a drastic move.

Take a good hard look at your current rental or mortgage payment situation. You need to figure out how to move to another house to lower your expenses.

If there is a viable way for you to do so, go ahead and do it immediately.

Then, with the extra money you have saved, you can open a savings account with a 2.45% interest rate and begin your journey to passive income.

People have extra unused room in their house that they never use at all.

If this is your circumstance, go ahead and fix that room up as either a part-time or full-time rental and then list it on Airbnb.

They will help make sure that your room will be rented at the highest rate possible while taking just a 3% cut of the rent.

This one tip could help you generate more than $600/per month or more. Then you can use that money to pay off your mortgage rate much quicker.

Or you could use the money to save on your monthly apartment rental fees. A huge win-win any way you slice it.

2. Lower Your Grocery Bills and Lose Weight!

During this time, I also realized I was about 15 pounds overweight from eating out with my friends every weekend.

As I live in Las Vegas, the buffets in this city are all over the place and are hard to avoid.

Well, I decided not only to quit eating out to save money, but I also quit eating at buffets altogether and started eating at home.

This not only saved me more than $50 a week, but I also dropped the 15 pounds and the blemishes I had on my face disappeared!

It seems when you eat greasy food, red marks will appear on your face seemingly out of nowhere. But they can be caused by eating lousy food, which I found out the hard way.

So then I decided to only buy what my family would eat from the grocery store daily. If they did not finish their food, I never bought it again.

I started buying good quality frozen food that could be cooked in an entree style. This brought the weekly food bill down by more than $300 per month.

Another way to cut your food bill down to size is by seeking out generic brands of popular items like rice, bread, and butter.

When you go to Walmart, look for the Great Value label like I do.

This step will save you hundreds of dollars per year off your food expenses. They hardly differs from the big name brands, taste wise.

If you have a family to feed, follow what I dam doing ASAP.

3. Get Rid Of Any High-interest Credit Card

Depending on how reliant you are on your credit card when it comes to using your card for making daily purchases, this step can be hard.

But it is a necessary one. I took one look at my credit card that had over $2,000 on it with a 12% interest rate and cut it in half.

I then went to my bank and got a secured card with a 5% interest rate and transferred the entire amount over to it from my 12% credit card.

I paid it completely off within a year and then got a Cash Back card with 0% interest on it as long as I pay it off every month.

Best step I have taken in the past 5 years!

Now I get 1% cashback on all of my credit card bills and use that money to pay off the credit card debt every month.

This is a win-win opportunity that will also build up my credit. And yours as well if you take advantage of it.

SB’s note: I actually recommend my readers who didn’t have any credit problems in the past, to use credit cards for almost everything. The credit card rewards are free money for you to have. They are the rewards of your every day spend.

4. Open a HIgh-yield Savings Account

When the stock market started to tank in 2017, I started to look at other options than keeping my money in a diversified stock portfolio.

That’s when I found online banks like CIT were offering 2.45% savings accounts as long as you kept at least $5,000 in balance.

So I opened CIT savings account with the full amount I had in the stock market. And, now I am saving a lot of money from being lost in stocks when Wall Street has a bad losing streak.

Every month I make around $75 to $85, which I then can use to pay off my credit card bill. This makes sure that I never pay any amount of interest on my credit card.

If you currently have a savings account accumulating just 1%, I highly recommend putting your money into an online-only account right away.

But you also need to use the amount of interest you make in that account to pay down your credit card balance or to pay off on a car loan.

That way, you will start making real progress on paying off any debts you may have. And that is the #1 way to save real money continuously.

Since I have accomplished all of these savings tips, my overall budget has been reduced by more than 70%.

Anyone can produce these types of results themselves by following every step in this post. Keep looking for other budgeting tips as they begin to seek out true wealth.

About the author: Rob Mead owns the personal finance YouTube channel.  He talks about money matters with very practical approaches.

The post 4 Great Ways To Budget Yourself appeared first on One Cent At A Time.

Analyzing your expenses and everything you spend on can help you identify what you aren’t doing right to correct it, helping you manage your money better. Below are some of the mistakes costing you a lot of money at home.

1.   Failure to regularly replace your furnace filter

Failure to clean and replace your furnace filter regularly causes it to clog to a point where air can’t pass through it, causing heat to be trapped in the system. When the temperature in the system rises, the limit switch activates, shutting down the furnace to avoid overheating. This temporarily mitigates the issue but can’t solve the root cause.

Failure to replace the air filter causes the furnace to overheat each time it starts, causing short cycling. When prolonged, short cycling causes many problems for the furnace, including reduced system output and increased furnace wear and tear, which leads to frequent breakdowns, shortening your furnace’s lifespan. Additionally, a clogged furnace filter has to work extra hard to move air throughout your home, resulting in high energy bills. Replacing the furnace filter regularly prevents clogging allowing it to work efficiently saving you money on energy bills.

2.   Ignoring leaky faucets

Leaky faucets are a common plumbing problem that’s largely ignored. While a drip in your kitchen or bathroom sink may not seem like an issue, it might end up costing you a lot.

Ignoring these water drips adds up to several gallons over time, increasing your water bill. Excess water leaks may cause wall discoloration and staining, necessitating a repaint.

This may also weaken your home’s structural integrity, weakening your foundation.

Additionally, if faucet leaks aren’t repaired, they result in mold and mildew growth, causing health problems, especially to loved ones with allergies, leading to more expenses. Inspecting your faucets regularly allows you to catch any little problem and fix it before it escalates.

3.   Neglecting your roof

Neglecting your roofing system and putting off repairs doesn’t save you money. It results in short- and long-term effects. The short-term effects of roof neglect may lead to water and moisture leaks, causing wall staining and discoloration, mold, and mildew growth, causing headaches and breathing problems.

The roof holes or cracks that let in leaks also let hot air out during winter and cold air in summer, increasing your electricity bill.

Long-term roof neglect can lead to severe water damage, causing complete insulation destruction and a sagging ceiling from the extra weight, resulting in safety concerns or even roof collapse.

Neglecting roof repairs only worsens the problem, leading to costly repairs and problems. If not fixed on time, roof issues can significantly reduce your property’s value. Regular, professional roof inspections can help you identify roof problems on time and fix them before getting out of control.

4.   Using incandescent light bulbs

Incandescent light bulbs work by heating a filament or wire until it’s hot enough to glow. This results in a higher percentage of electricity being used for heating and not lighting the bulb.

While incandescent light bulbs are cheap to acquire, they aren’t energy-efficient, leading to high electricity bills. They also don’t last long, meaning you have to keep replacing them, costing you more money.

Consider shifting to more energy-efficient light bulbs such as LEDs to save more energy and reduce your monthly expenses.

5.   Investing in energy-inefficient appliances

While some of your home appliances inherently take a more significant part of your energy budget, some models perform poorly with energy efficiency. Refrigerators and clothes dryers are high-energy appliances that consume a lot of energy—unplugging refrigerators when not in use and line-drying your clothes can save you money.

Low-efficiency appliances contribute to high utility bills, so invest in Energy Star appliances as they’re certified for energy efficiency.

Inefficient appliance usage, including laundry, running a dishwasher when it isn’t fully loaded, and understocking your refrigerators increase your energy bill.

Adopt energy-efficient habits such as unplugging appliances when not in use, replacing old appliances, defrosting your refrigerator, and automating your home.

6.   Ignoring regular HVAC maintenance

Regular HVAC maintenance is an essential preventive measure that keeps your heating and cooling system functioning optimally while ensuring energy efficiency.

Ignoring it results in unexpected, costly repairs and replacements. Failure to adhere to a regular HVAC maintenance routine and ignoring minor repairs causes the system to work harder to meet your heating and cooling needs, resulting in more energy usage and increasing your energy bill.

HVACs lose energy efficiency as they age. However, regular servicing slows this natural process, keeping the system running efficiently for longer. Sticking to a regular HVAC maintenance routine prevents premature HVAC system replacement and saves you money in the long term.

7.   Overwatering your lawn

Watering your grass sparingly will encourage it to grow deeper roots, ensuring efficient water usage and a healthy lawn. Overwatering your lawn promotes shallow root growth on turf, stressing the grass when water isn’t available, destroying the lawn. It also results in excess water usage, increasing your utility bills.

To grow healthy grass while saving water, choose the right grass for your location’s climate, ensure you have good soil, and understand how to care for it.

8.   Failure to DIY

DIYs may seem overwhelming and challenging to accomplish. However, they are a great way to save money. Relying on professional services for all your home repairs, maintenance, and replacements can be costly, including the minor ones that you can handle.

Thanks to blog posts, video tutorials, and other learning materials, you can learn and execute simple DIY projects, increasing your savings.

Consider taking some free online courses to acquire the necessary skills to take on simple, recurring home problems. In addition, if you possess some skills that can help you complete DIY projects, apply them instead of reaching out to professionals.

However, beware of the tasks you can DIY and leave for professionals to avoid injuries and more expensive repairs or replacements.

Endnote

Running your home affairs can be costly, especially without a budget. Poor financial decisions and choices can further stretch your budget, affecting your saving capacity. Consider avoiding the above mistakes that are costing you a lot of money at home.

The post 8 Mistakes That Are Costing You Money At Home appeared first on One Cent At A Time.