How to Save Money in Winter

For most people, winter is the most expensive time of the year. Between needing to turn on the furnace and the inevitable need to purchase medicines to combat the common cold, it can seem as if there’s no way to control soaring winter expenses. However, there are a few tips that might be able to help you keep your costs down this winter.

One of the greatest costs in the winter is home heating. To keep these costs down was skyrocketing, address some key areas of your home. You’ll need to make sure your home is properly insulated and airtight. Leaks around doors and windows can cost you a fortune over the winter, so seal these leaks or consider replacing older windows and doors. Add weather stripping to doors and put a heavy plastic over your windows.

Adjust your thermostat to conserve heat. It is said that for every degree you turn down your thermostat, you’ll save 3% on your heating bill. This could be a significant amount, so put on a sweater and turn down the heat. While you’re at it, turn down your hot water heater as well.
There are some even simpler ways to reduce heat loss around the home. Turn off exhaust fans immediately after use. Replace or clean the filters on you furnace or heating vents. Consider covering your hot water heater with an insulated blanket to keep it warm and reduce the energy needed to heat your water. There are dozens of other small fixes that can be done around the home. Take a look around and get creative.

Shop for warm winter clothing out of season to save a few dollars. Purchase items such as warm sweaters, thermal underwear, fleece blankets, cozy socks, and slippers. You can wear or use these items in your own home, allowing you to stay warm without having to resort to turning up the thermostat or breaking out the space heaters. If you do need some extra heat and you have a fireplace, light the fire and let it supply some of your heat.

Use food to keep warm as well. You have to eat, so gear your meals toward staying warm. Try casseroles, soups, stews, and broths. They’re cheap and easy to make, so you’ll save money on the preparation as well.

Also, eat two or three oranges every day. This doesn’t necessarily sound like a way to save money, but upon reflection, it may very well save you hundreds of dollars over the winter season. One of the greatest household costs from the onset of winter until spring thaw is medications, both over-the-counter and prescription, to treat various colds and flus. Vitamin C will help to prevent illness, but you’ll need to take other measures as well. Remember to wash your hands frequently and change your bed linens after you’ve been ill. Also, if the temperature in your home is so high that you’re sweating, turn down the thermostat. Going out into the cold while you’re drenched in sweat is a pretty good way to become ill, so dry off before going outside.

There are many other ways in which you can lower the costs of the winter season. Try them all to see what works for your family, and don’t be afraid to get a little creative. Your wallet will thank you for it later.

Teaching Children to Save Money

In today’s world of “see it now, want it now,” it’s not always easy to teach children to save money. The influence of the media and peer pressure usually encourages children to spend any money they receive immediately. In order to get children interested in saving, you’ll have to be a vigilant parent and make a point of demonstrating the many benefits of saving. There are several methods you can use to achieve this.

Before you begin showing your children how to save money, they’ll have to understand something about how money is earned in the first place. Speaking in language appropriate to the age of your children, explain that money is a reward for time invested and energy expended. Make sure they understand that you get money in return for working. It doesn’t just appear. To reinforce the basics of money, play a money game with your children, such as Monopoly.

Offer an allowance on the condition that a portion of that allowance is saved. Perhaps purchase a piggy bank for each child and encourage them to contribute 10% of their allowance to their savings. More is good, but set a minimum amount. Have them place their money in the piggy bank themselves. If you do it for them, it’s not them saving, it’s you.

If you want to encourage your children to save, try matching their savings. If they’re younger children with only pennies and the occasional quarter, match 100% of what they save. For older children who save more, consider cutting back to 50%, or even go as low as 25%. As they see their savings grow faster than expected, children are more likely to want to save. When they’ve saved enough, take them to open a savings account.

Have your children set goals. It’s not easy to save for a mysterious ‘nothing,’ so have your children make a list of what they’re saving for. Once a list of goals has been decided upon, have them tell you what is at the top of the list. Find a picture of this thing and put it in a prominent place, such as on the fridge or above the desk where your children do homework. This will remind them of what they’re working towards and hopefully curb their urge to spend.

Younger children may have difficulty waiting with no reward. If this is the case in your home, come up with a reward system for your children. Often, this can be as simple as stickers placed on a sheet. For every quarter (or dollar) they save, add a sticker. Once a certain number of stickers have been collected, offer a small reward, such as a special dinner or an inexpensive toy. This will give younger children a sense that saving does indeed have benefits.

Give your older children control over one aspect of their own budget. Clothing is usually a benign enough category, though it will depend on your children. Let them handle the purchasing of their own school clothing, but give them a strict budget. If they’re only allowed $100 for clothing, force them to stick to that budget. If they buy a $100 pair of jeans, that’s all they get. You can’t give in when they whine about not having enough, or the lesson will be lost on them. It’s not advisable to use this technique on a truly necessary portion of the budget, such as food. You don’t want to starve your children just to make a point.

Model the behavior you’d like to see in your children. If you want them to save for a goal, show them that you’re saving for a goal. Get your own piggy bank and put your change in there while your children are watching. Explain what particular goals you’re saving for and your children will be more likely to save for their own.

Remember that with all that saving, there should be a little spending. If you have a child who just saves and saves, but never spends, you’ll want to help that child find balance. Praise your child for saving, but remind him or her of the goals on the list. If there’s enough money for the first goal, take your child out to purchase the item. Saving is good, but every child needs to opportunity to spend that money eventually. Help your child to spend, if necessary.

Teaching children to save money is not an easy task. Mistakes will be made. When your children spend instead of save, don’t get angry. Encourage them to continue saving and keep modeling the behavior you wish to see in them. Eventually, your children will learn how to save.

Saving Money on Bank Fees

Bank accounts are a virtual necessity in the modern world. Unfortunately, banks know this. They know exactly how much you need that bank account, and they can take advantage of this need by charging a ‘service fee’ for every indulgence and any small mistake you might make. The good news is that once you are aware of where these fees come from, you can generally avoid them.

A large portion of bank fees every month are due to using ATMs. Specifically, ATMs that are not within your bank’s network. You can be charged anywhere from $1 to $3 for a single transaction. Sometimes, you’ll be charged this fee twice — once by the ATM network and once by your own bank. That could mean as much as a $6 charge for taking out $20 from some random machine. Instead of visiting whichever ATM is closest, take the time to know where your bank has its machines. If at all possible, use only these machines, avoiding the costly ATM fees.

Another source of fees are overdrafts rates and insufficient funds charges. Saving money on these things seems simple, but it can be hard to avoid these fees if you're used to running an overdraft. Many people use overdraft in order to avoid insufficient funds charges, but in the long run, this too costs a great deal of money. Save yourself both fees and make sure you always have enough money in your account to cover any check or debit charges. If you have a recurring payment that comes out of your account, absolutely make sure the money is there. If it isn’t, some companies will try to take the money two or three times, and the fees associated with the “NSF” incident will add up to an astronomical amount.

Take a look at your banking plan. Most banks have several to choose from, and it’s up to you to choose the one that is right for you. If you hardly use your bank account during the course of an average month, then the bottom-of-the-barrel account might be right for you. However, if you tend to make many transactions during the month, both self-serve and at the teller, you might be better off considering an all-inclusive service package. Discuss your options with your bank manager, and don’t be afraid to change your plan if it isn’t working for you.

If you don’t like the services your bank offers or the fees they charge, change banks. There are many options available and you can generally get a very good rate by transferring your account to another institution. There are many low-fee or no-fee accounts out there, so shop around and look for the best deal for you and your financial habits. The money you'll save can make the hassle of changing banks and resetting your automatic payments well worth it.

Unless you are an avid saver, avoid bank accounts that promise to reduce or waive fees if you keep your bank account at or above a certain balance. This minimum balance is usually from $1000 to $3000, so unless you really believe you’ll have that much money just sitting in your account, shop around for a lower-fee bank account. Otherwise you’ll be paying a higher fee for a very long time, and it's almost never worth it in the end.

In the end, the only way to avoid additional bank fees and charges is to be aware of your spending habits and know exactly what fees you'll be charged and when. If you are responsible and conscious of your own finances, you should be able to reduce or eliminate most bank fess most of the time.

Getting Stores to Accept Online Coupons

Coupons are a way of life for many families, especially when the economy is down. And one of the easiest ways to find coupons is to search the internet, select the coupons you want, and print them off. You don't even have to leave your home, or purchase the Sunday paper with hopes that you'll find some useful coupons. Online coupons are a simple and easy way to save a little money. However, sometimes at checkout you’ll find that stores will not accept the coupons you’ve printed at home. At this point you’re forced to either put the item back or pay full price. This can be frustrating, but it is also avoidable in many cases.
 
After the counterfeit coupon incidents of 2003, which resulted in huge monetary loses, many retailers stopped accepting online coupons altogether. It wasn’t that retailers and manufacturers wanted to walk away from online coupons. They understood that eventually there would be a need for this service. They simply needed time to come up with an executable plan to ensure that coupons from online sources were legitimate.
 
Manufacturers and retailers partnered with reputable coupon sites in order to solve the problem of counterfeit coupons. If you want your local store to accept the coupons that you print off your computer, you’ll have to use these same sites. Two legitimate sites are Coupons and SmartSource. These are both US sites. If you're interested in coupons for other areas, you can enter "printable coupons" or "free coupons" plus your country or city into most search engines and get several results. You can also go to a manufacturer’s website for specific coupons. Never purchase coupons from an online auction site, as they are likely to be counterfeit. As a general rule, if you have to pay for a coupon, you should be immediately suspicious of their validity.

Legitimate online coupons are required to have certain information. The will all include a scannable bar code, an expiration date, the manufacturer’s address (for the retailer to remit the coupon), and standard terminology such as “one coupon per customer.” The exact terminology may differ, but there should be some conditions on the coupon, even if it’s only “no photocopies accepted.” If your coupon doesn't have this information, assume that it cannot be used at most retailers.

Even if you’ve obtained the coupons from a legitimate source and the coupons contain all required information, an individual store still might decide not to accept your coupons. If you are worried about your coupon not being accepted, there are some steps you can take before you’re left standing at the checkout.

Once you’ve printed your coupons, do not clip them out. Leave them on the full sheet of paper, and make sure the URL is visible either at the top or bottom of the sheet. This way, the store manager or clerk can see the name of the website where you obtained the coupons. Often the manager will be familiar with the website but not the individual coupon. This can go a long way towards having your coupons accepted.

Before shopping, stop at the customer service counter and get your coupons approved. Ask for the store manager if you have to. If asked in advance, most store managers will err on the side of the customer and allow the coupons. Make sure you get the name of the manager, just in case there’s an issue at checkout. You might even ask the store manager to sign the coupon sheet as verification that he or she approved your coupons in the first place.

If you’re shopping at a large chain of grocery stores, take a few moments to contact the corporate office. You can generally find contact information on the company website. Ask to be provided with a letter that outlines corporate policy on accepting online coupons. Most companies do accept them, so a letter should be easy enough to obtain. Alternatively, you might be able to find such information directly on the corporate website. Either way, print out the information and bring it with you when you shop. You can then show it to clerks and managers as proof that the company does indeed accept online coupons.

With food prices on the rise, online coupons are becoming increasingly popular. It only makes sense to do your best to ensure that your coupons will be accepted by your local retailer. Visit only legitimate sources, don’t clip the coupon, and seek prior approval if you’re in doubt, and you should have no trouble when it comes to using your online coupons.