Cell Phone Apps That Help You Save Money

The evolution of the cell phone can do wonders for your budget. No, phones aren’t always cheap, but look at it this way. If your mobile carrier is going to require you to have a data package, you might as well use it to your advantage. Here are some apps that can help you save money:

RedLaser --lets you shop smarter, faster and cheaper. Use it to compare prices on the same item at multiple locations by scanning the barcode on the package. Select whether you want price comparisons from local stores or whether you want online price comparisons, too. If you don’t have to by it immediately, and the online price is that much better, buy it online. Or, if you find a better price at a nearby store, purchase it online and have it waiting for you when you get there. If it’s a food item you are searching for, RedLaser also will provide information on allergens. Available on iPhones, Windows and Android phones.

Cellfire is digitizing the coupon craze. Are you tired of spend hours clipping coupons only to forget them when you head to the store. Search for and store coupons on your phone or load them to your store club card. When it’s time to pay the cashier, present your store card or your mobile phone to use the coupon. It will be taken off your total instantly. Use Cellfire for entertainment discounts, as well. Available for just about any phone on the market.

The magic of Groupon has gone mobile. Now, get daily deals through the Groupon mobile app. The mobile app often gives deals not available from the Groupon website. Available for just about any phone on the market.

The Coupons app puts coupon savings at your fingertips. Find coupon savings and shopping deals at your favorite stores, restaurants and even gas stations. Plus, find the cheapest gas prices near wherever you happen to be. The Coupons app also offers daily deals. Available on Android and iPhones.

Tired of toting around a keychain full of barcodes for every store where you have a loyalty card? CardMobili, is a smartphone app that lets you store your cards and coupons. Simply flash your phone at checkout. Available on most smartphones.

What are some of your favorite apps for saving money or time? Please leave a comment so all members of our credit union family can benefit from the information.

 

Larger Isn’t Always Cheaper, Cheaper Isn’t Always Better

When I was growing up, my mom always bought the biggest package of everything – cereal, laundry detergent, peanut butter, etc. Back then, it was pretty much a given that you got more for your money by purchasing the “economy” size. Today, that’s not always true. Larger isn’t always cheaper, and cheaper isn’t always better. That is never more apparent than when I send my husband to the store (and you’re about to see why those trips are as infrequent as possible).

My husband loves to shop the meat counter of a grocery store. He’s always looking for something to smoke or grill. I can’t tell you how many times he has come home with a piece of meat that was “on sale.” He didn’t look at factors like fat content, which determines how much the meat shrinks, or the price per pound, which sometimes is insanely high. As with most things, it’s not necessarily the flat price you have to look out. With food, it’s the price per pound, ounce or other unit measure. With sheets, it’s the thread count. With clothes, it’s many things, including the quality of fabric.

When you look at shopping in those terms, you learn very quickly that bigger is not always cheaper. Last week, I needed laundry detergent. I’m not loyal to a brand so much as I am to anything with no dyes and perfumes. When comparing two different sizes and brands, I realized that by purchasing four smaller bottles, I was get a whole lot more soap for a lot less money and still paying less overall. I did the same thing with cereal. When I compared the sale price, per ounce, of the smaller size box to the price per ounce of the larger size box, it was cheaper to buy two smaller boxes. Sometimes it works the opposite way. Most of the time, the stickers on the stores shelves give you a price per ounce, even on the sale sticker or signs. Otherwise, do the math. I remember shopping for peanut butter once and learning that the sale price on the largest jar (which happened to a good price for that size), still was not cheaper than buying two smaller jars.

How does this translate to clothes? I have learned that you get what you pay for, most of the time. In other words, if you’re not willing to spend a little more, you may be compromising quality. Compromised quality means your garments may not last as long. Of course, sometimes you’re paying more for the brand name. Ms. Me jeans are often $100 or more. Does that make them better than the significantly cheaper brands like Levis or Old Navy? That’s when you have to look at fabric quality and thickness to make that determination. If the only thing redeeming about a pair of jeans are their name, you may want to save your money.

Being a bargain shopper means finding the best value, which often is different than the best price. Look at the unit size or the quality of something to make that determination.

 

Denial Can Be Expensive

My son’s teacher sat down next to me the other day and said something that still makes me cringe. She told me that her husband’s salary had declined significantly over the past three years. During that time, they didn’t want their teenage kids to know, so they continued living the lifestyle they were accustomed to. Both of their children play competitive sports, and in three years, their denial about their financial situation has resulted in a mountain of debt.

My heart hurt for her. It still does, not just because of their financial decline, but because they let something in their control get completely out of control. Please don’t let this happen to you!

As a parent, I am a firm believer that your kids should not have to deal with adult problems. That doesn’t mean you can’t be honest with them in a way that doesn’t make them worry. My son is eight years old. My husband is out of work. We are not struggling financially, but we also have cut back on things like eating out after church on Sundays and other small luxuries that add up over time. My son also has to limit his summer camp choices this year. If my husband gets a job soon, we may give him more options, but for now, the distance and cost of camps are big factors in determining whether or not he can go.

Even if you don’t have kids, or a spouse for that matter, you have to be honest with yourself about your financial situation. When your income decreases, so should your expenses. If you are using credit cards to buy things you know you can’t pay for any time soon, you are living beyond your means. If you are spending money on entertainment instead of paying your electric bill, you are living beyond your means. Stop now while you still have control over you money. Cut back on luxuries, even if it means seeing the matinee movie instead of the evening movie or stopping for coffee twice a week instead of every day. Shop around for cheaper auto insurance. Drink tap water instead of bottled water. Those small expenses will save you more than you think.

Last summer, my sister-in-law was complaining that she and my brother can’t afford to take a vacation with their kids. She was telling me this in the car while she was picking up her daily cup of ice coffee for $2.65. Yes. She even buys it on weekends. A year’s worth of coffee costs her $967.25, plus the cost of gas to drive back and forth every day. That’s her vacation, and she doesn’t see it.

If this sounds like you, don’t let denial steal your financial freedom. Be honest with yourself and your loved ones while you are still in control of you money. If you don’t, it will end up controlling you.

Should You Save Money or Pay Down Debt?

A lot of people are drowning in debt. They have so much debt that saving money doesn’t even seem possible. I have been there, and I am here to tell you that it is possible to turn it around.

Obviously, paying off your debt is important. If you don’t pay off your debt in a timely manner, you could lose your house, or your car or whatever it is you owe money on. There’s also your credit report. If you default on your loans, it will kill your credit, which could affect your ability to buy a house, rent an apartment, secure car insurance or even get a job. You have to pay your debt, but does that mean you can’t also save?

I am a product of the Dave Ramsey approach for building wealth while beating your debt. His method includes seven baby steps. The first one is saving $1,000 for an emergency fund while continuing to make the minimum payment on your debt - even if you can only save $10 a pay check. Here’s why.

If you pay down your debt but have nothing saved for emergencies, what will you do when an unexpected expense like a car repair or health scare? Mostly likely, you’ll charge it on the credit card you’ve been working so hard to pay off. An emergency fund helps you avoid that.

There are other schools of thought that believe you should focus on paying off your debt first, because in most cases your debt costs you more money than your savings makes you. Many credit cards have interest rates higher than 20 percent APR. In today’s economy, you’re lucky to earn as much as one percent APY on a typical savings or money market account. Of course, if you only make the minimum payment and your debt is substantial, it will take decades to pay off your debt. If you decide to focus on debt first, be sure to pay more than the minimum payment on your loans and credit cards.

Deciding whether to save money or pay down debt is a very personal decision. Unfortunately, we can’t make that decision for you. We can, however, give you tools and advice that help you make the decision that is best for you. Start with our online education center for personal finance called BalanceTrack. You will find all kinds of information on just about any topic related money. Next, check out our BALANCE program, designed specifically to help you break the debt cycle.

NCU is here to help, but we know there are lots of other resources out that. How have paid down your debt while saving money? Please leave a comment so others can benefit from your information.

 

Finding Discounts on Summer Vacations

Have you started planning your summer vacation yet? I know. It’s still April, but here in the Dallas area, school will be out in about a month. By then, the good deals may be taken. Even if you’re not planning to travel until the beginning of August or just planning a weekend getaway, now is the time to look for deals.

The Internet has a wealth of resources for finding great deals on just about anything. Travel sites are no exception. But how do you find them and how do you know which ones are reputable? Here are a few resources to get you started.

Social couponing websites often offer extreme discounts on travel destinations. These coupons are great if you are flexible on dates or don’t have a specific destination in mind. Simply choose a destination already on sale. If you have a specific destination in mind, go to these websites and sign up for e-mails for deals in specific regions. If you plan to vacation in Boston, sign up for entertainment and dining deals in Boston and start planning your trip around the daily deals you receive. Some good sites to start with are groupon.com and livingsocial.com/escapes.

Memberships can pay off. AAA offers last minute vacation deals as much as 70 percent off the regular price. To make the deal sweeter, AAA offers a low price guarantee. If you find a cheaper rate for the exact itinerary within 24 hours, AAA will match it.

Wholesale warehouses like Costco offer exclusive benefits on vacations around the world, cruises and more. They also offer great deals on rental cars.

If you still plan to wait until the last minute, there are lots of websites that cater to your needs. These sites often buy the last few seats on an airplane or the last few cabins on a cruise at a fraction of the regular cost and can sell them much cheaper than the airlines and cruise lines would. Check out some of these sites:

Travelzoo.com
Lastminute.com
Moments-notice.com
Laterooms.com

And, for last minute deals specific to Disney destinations, check out mousesavers.com.

Where do you turn for big discounts on vacations? Please post a comment and continue the conversation so all NCU members can benefit.

Reading Your Receipts Can Really Pay Off

Do you ever read the receipts you get after you buy something? I mean really read the stuff at the bottom of your receipt below the purchase total? Many stores used to use that space to print their return policies. These days, they are making it worth our while to read further down and are willing to reward us for giving our feedback about their products, services, food or whatever they sell.

I admit that I’m not a big survey taker, but I’m willing to give Starbucks a few minutes of my time for a guaranteed free beverage. I don’t go to Starbucks often, but three times in the last year I have been randomly selected to fill out an online survey in exchange for a free tall beverage. When I finished the survey, I received a validation code that I had to write on my previous receipt and bring back to Starbucks. Each time, my tall drink was upgraded to a grande free of charge.

I have friends who have received free cookies from Subway, free fries from various fast food establishments and more. Stores like Target, Home Depot and Wal-mart frequently have offers on their receipts for a chance to win thousands of dollars in store gift cards for completing an online survey. Obviously there’s no guarantee you’ll win, but one thing is for sure. You certainly  have no chance of winning if you don’t enter the sweepstakes, fill out the online survey or do whatever else they are asking you to do in exchange for a chance to earn something free. Is a possible $5,000 Target gift card worth a few minutes of your time? That’s like getting a year’s worth of groceries free. If you shop there often, that’s more opportunities to possibly win.

Here’s what I do. I have a basket by my computer where I keep my receipts. When I have a spare minute, I grab my stack of these kinds of receipts. Often, the survey will tell you upfront how long it should take you. If it’s just a minute or two, I’m usually in. If it’s five minutes or more, I generally shut the survey down and throw the receipt away. I am impatient by nature, and I lose interest in any survey much longer than that. You may be different, depending on what’s at stake.

Take a look at your receipt next time you buy something or eat out – anywhere -- and see if there’s an opportunity to earn something free. Just pay attention to the date. Many require that you leave feedback within a certain time frame. 

Friendships Can Save You Time and Money

I have a confession to make. I hate house cleaning. I hate it so much, that I rarely do it. Apparently, I’m not alone. On a recent Facebook post, I learned that several of my friends are in the same predicament. As we commented back and forth, one of my friends came up with a fabulous idea. Why not get together and help clean each other’s houses? If we had three or four people cleaning one house, it might not seem like such a chore. It also would save money, because we wouldn’t feel the need to hire a cleaning crew. We haven’t done this yet, but we are seriously considering it.

That got me to thinking about what else friends could do to save money while spending time together. Here are some ideas I came up with.

Dinner Club and Recipe Swap

Pick one or two recipes and either divide the ingredients among each person in the group or have each person chip in a small amount of money and let one person do the shopping. Gather at one person’s house once a week or however often is best for you, and cook the recipe together. Divide up the portions among each person, and your family has one or two meals to try for a very small amount of money and time.

Shoe/Clothing Swap

Tired of your wardrobe but don’t really want to fork out the money for something new? Gather your friends together for a shoe or clothing swap. Have everyone who plans to attend let you know in advance what sizes they will be bringing so those planning to attend know if it is worth their while to be there. Divide clothing by sizes and let everyone “shop” for free.

Toy Swap

This is similar to a clothing swap. Instead of sizes, you’ll want to know the age level and gender preference of toys people will be bringing,

These types of swap activities can be temporary or permanent. Perhaps you are tired of your wardrobe, but you have certain pieces you know you’ll want to wear again. In that case, set guidelines. Perhaps your group will meet every six weeks or two months to return the items to the original owner. Just know that not everyone takes care of your items the way you would. If it’s something you just cant’ part with, you may want to keep that one in your closet.

What are some things you do with friends to save time and money. Comment here so all NCU members can benefit from your ideas.

 

Don’t Skimp on Your Insurance – Any Kind of Insurance

The Dallas area experienced more than a dozen tornadoes in one day this week. For many families, the process of rebuilding their lives is about to begin. If you had no damage and weathered the storm without incident, first thank your lucky stars. Second, use this opportunity to revisit your insurance policies and ensure you are adequately covered for those unexpected situations.

Let’s be honest. Nobody expects to lose their home in a tornado. It’s supposed to happen to someone else. If it happens to you, is your homeowners insurance policy enough to rebuild? Many homeowners make a critical mistake when purchasing homeowners insurance. They insure their house based on what they paid for it, not on what it would cost to replace it. Spend the extra money to insure the replacement cost of your home. It adds almost nothing to the cost of your policy, but makes a huge difference if your home is destroyed by a storm, tornado or something else. If you have expensive jewelry, antiques, etc., insure them separately with riders or add-ons to your policy, to insure you get the full replacement value for them if they are lost, stolen or destroyed.

Renters insurance is often overlooked and is so important, especially to people renting apartments. A kitchen fire in one apartment spreads fast and can destroy an entire complex. Renters insurance costs very little and will replace all your belongings so you’re not out thousands of dollars of your own money for clothing, furniture, appliances, etc.

If you don’t have life insurance, consider getting some. Life insurance is a little different than others because you’re not insuring stuff. You are paying on a policy that will take care of your loved ones when you die – whether it is of old age or young and unexpectedly. Life insurance is a little more flexible than insuring stuff, because you can choose the amount of coverage you want. Choose enough to take care of your spouse and our children, and be sure they are listed as beneficiaries on your policy. If you can’t afford whole life insurance, opt for term life insurance.

Of course, most of us have auto insurance. If you don’t, you should, if for no other reason than to protect yourself from people who don’t. If someone with no insurance damages or totals your car, you are covered by your own policy. If your car is stolen, you are covered. If your car is new, get GAP insurance, too. That pays what your auto insurance policy doesn’t, so you can pay off your loan and still get another vehicle.

It is okay, in fact, it’s even wise to shop around for the best deal on any type of insurance. Just be sure you’re not skimping  to save buck. This is one of the few times when spending a few more dollars could make a big impact when you really need it.

Tips for Getting to the Next Paycheck Without Running out of Money

It’s not something we like to think about, let alone talk about, but let’s be honest. We all have times in our lives when it seems nearly impossible to get through a simple two-week pay period without borrowing, begging or over drafting our checking account. It’s not fun, but with a little discipline and a lot of determination, it is doable.

The first thing you should do is write down what you think all your expenses will be for the pay period – utility bills, loan payments, gas for your vehicle, groceries, etc. Add it all up and compare it to the amount you got paid. If your expenses are more than your income, it’s time to start being creative.

Food is usually an easy place to start. Figure out what you already have in your pantry, refrigerator and freezer. Spend about an hour or two planning meals for the next two weeks with what you already have on hand. Use the grocery store sale flyers to help you fill in the missing pieces and only buy what’s on sale. If you have to eat sandwiches for a few days, do it. Definitely do not eat out or even stop for a cup of coffee. Make it at home.

Figure out what bills you can put off a few days. While I certainly don’t advocate paying your bills late, I know that feeding your family and having enough gas in the tank to get to work sometimes takes precedence over your bills. My rule of thumb is to pay anything with an interest rate or a late fee on time, even if it’s just the minimum payment this one time. These are the items that will hurt your credit and your budget if you don’t pay them in a timely manner. My cell phone company, gas company and electric company do not charge monthly fees. Those are the ones I generally will put off if I have to, but I try not to make them wait more than a few days. I’ll pay them online on payday when necessary.

Condense your drive time as much as possible. With the price of gas so high, you need to rethink how much time you spend in the car. If possible, work from home a day or two. Carpool with a friend from work. Let your kids walk or ride their bikes to school. You might even see if you can go in early or stay late at work to avoid rush hour traffic. You burn more fuel when you sit in traffic.

Most importantly, remember that the adjustments you are making are for a small time frame. Even if you have to do this for a month, perhaps you can reward yourself with dinner or a movie the next time you get paid. You deserve it if you managed to avoid using your credit cards or dipping in to savings.

Being Seasonal Saves Money

It’s officially Spring, and that’s good news for those of us looking to save a few bucks. This is the time of year when living seasonal really pays off.

I went to pay my utility bills the other night and was pleasantly surprised. Combined, my gas, electric and water/trash bills were about $150. While I was happy to usher in Spring with the heavy down pour we had, I was even more excited when I remembered the ways we can all save some money for the next few months.

Start with utilities. If you have a sprinkler system, shut it off. If you have ceiling fans, turn them on. Throw open the windows and breathe in some fresh air. This is our rainy season, or as I like to call it, free water season. With as much rain as we had the other night, you shouldn’t need to water your grass for a while. Turn off the automatic timer on the sprinkler system and just turn it on manually when your grass look like it needs a drink.

Save your a/c for the summer. As warm as it has been this year, we may not even have a month left of crisp air before the heat wave starts. Turn off your a/c and open your windows. If it gets a little warm mid afternoon, turn up the speed on your ceiling fans. If it gets a little cool at bedtime, toss a light blanket on the bed. Your wallet will thank you.

Stock your kitchen with seasonal foods. I absolutely love when something other than oranges, apples and bananas come back in season. We have all of those in the house right now, but we also have fresh strawberries, blackberries, plums and pineapple. You can really save a lot on your grocery bill by cooking with/eating fresh herbs, fruits and vegetables that are in season, especially if they are grown locally. Don’t limit yourself to the grocery store. Shop your local farmers market, too. Or, plant your own garden. This is the perfect time to start.

Buy your summer wardrobe now. If someone in your house is going to need new clothes this summer, start shopping now. Retailers like Old Navy, Kohl’s and others are offering big markdowns on summer essentials like short sleeved tops, shorts and sandals. It seems a little earlier than in past years, which means by summer, your deals and your selection will be gone. Use the money you are saving on food and utilities to stock up on season clothing now.

Happy Spring and Happy savings!