Don't Buy That Insurance YET!

A lot of people really believe they need insurance for everything they own, but let's evaluate this.

Obviously you need auto and health insurance. It's even required by law. And, if you own your own home, you definitely want homeowner's insurance.



Now, let's look at a few other types of insurance.

Cell Phone Insurance: Perhaps you're the type of person who drops your phone constantly, or you have young kids, and you definitely need cell phone insurance. Consider paying your cell phone bill with a credit card that offers free coverage just for charging the phone bill to your card every month. (Of course, you'll want to be sure and pay the bill in full each month.)

Renter's Insurance: This one won't be the same for everyone. If you are a lifetime renter, and you have accumulated a lifetime worth of items, you probably will want to purchase renter's insurance. If you just moved out of your parent's home and everything you own is either curbside furniture or hand me downs, you might be just as well saving that money for your first home. Compare the annual cost with the amount you paid for your current assets.

Life Insurance: Obviously, if you are married with children, you will need to provide enough life insurance to not only pay for your funeral, but to provide the lifestyle your family is currently used to living. However, if you are single, you might want to consider planning your funeral and expenses in advance and skipping the monthly payment.

Life Insurance on a child: Put the money into a savings account for the kid instead!

Please consult a trusted financial advisor for assistance in any insurance decisions. I am not a professional in the industry, just someone trying to bring to light ideas to help you save some money and help with an inexpensive way of life!

Quit Living Week to Week!

Follow these steps, and you'll see how easy it is to quit living week to week.

Stock Up While It's On Sale

All of us have certain items that we use on a regular basis, from your favorite soda or your favorite cereal, to your favorite laundry detergent.  These are items that are always in the house, or we need to pick up if we run out.

If you watch the ads close enough, you will find certain items go on sale at certain times of the year.

For example, my favorite soda is Mountain Dew.  It goes on sale frequently enough, but it's usually at it's lowest price for about two weeks before each holiday.

If I buy a case of Mountain Dew when it's on sale for $5 instead of the regular price of $7, I save $2 a case.  Considering I go through a case about every other week, that's a savings of $52 dollars a year!

If you do this with everything you buy, these savings add up!

Another example, canned vegetables usually go on sale in the fall, just before Thanksgiving.  It's September and I still have enough vegetables in my cupboard from last Thanksgiving, to do me until November. 

It may seem like a lot of money to put out, at first, but after a while it will be less than your normal grocery bill. 

Next you'll find yourself only going to the store to buy necessity items, unless there is a good sale. 

Do this with your meats, too.  Keep your freezer stocked so that you aren't running to the store two or three times a week to pick up something for dinner 'tonight'!

You'll find you are not only no longer living week to week, but you also have free time to spend with your kids.  Or you'll have the extra cash to go out for dinner and a movie without worrying about next month's rent!

 

Ideas from My Friends

I want to thank all of my friends for helping me come up with some new ideas this week. Here are some money saving or frugal ideas, that we came up with.

When you finish the end of a jar of jelly, peanut butter, etc., instead of throwing the jar away right away, save it. The next time you go for a snack, take a slice of bread and dip it in the jar to get that last little bit out instead of tossing it!

Again, at the end of a bag of pretzels. Don't toss that extra salt with the pretzel bag. Put it in a little container, maybe even a grinder, and save it for your popcorn or other snacks.

What about sunscreen? It will probably be expired if you save it from year to year. How about using the rest of the tube for shaving instead of tossing it? It will probably even help to soften your skin!

Another good idea....When you are getting the temperature set in your shower and the water is running before you get in, catch that water in a bucket. Use the water for your outdoor plants. This will especially be helpful in the summer.

Hope you have enjoyed these household tips from me and my friends!