Tips to Save Money -Townhall Update
May 24, 2010
Our most recent townhall meeting on May 20, 2010 was on "Tips to Save Money". There were some great tips provided by our expert panel and members of the audience.
1. Track EVERY dollar you spend for 3 months. You need a baseline to know what you are spending where if you are to better understand where you can save money.
2. Pay down debt. The faster you pay down debt the better your interest rates will be and the more of your own money you can keep.
3. Save. Put something away every month (like need to pay a creditor). The habit is more critical than the amount initially. http://www.americasaves.org/
4. Comparison Shop. The amount of time spent comparing should be somewhat proportionate to the size and significance of the purchase. i.e. a home, car, insurance or major appliance may warrant more research.
5. Check out the vendor. You should check out the vendor with the Better Business Bureau and if buying any good or service from a licensed profession, check out the profile from the Department of Regulatory Agencies to see what their complaint or disciplinary history includes (plumbers, doctors, electricians, cosmetologists etc.)
6. If you need help resolving tax issues, consider the DU tax clinic.
7. Look for bargains and deals (MileHighOnTheCheap.com) and other places. Remember coupons don't always mean its cheaper and look for a recognized vendor and expiration date on coupons to ensure they are legit. Corporate v. franchise may mean some coupons are not honored everywhere.
8. Ever tried frecycle? This is about as cheap as it comes, given that it is free. The Aurora freecycle group is at: http://groups.freecycle.org/Aurora-Freecycle/description.
9. Craig's List is another great resource for finding good deals. http://denver.craigslist.org/
10. Watch out for scams. Check with the consumer affairs division of the 18th Judicial District Attorney's office for the latest trends in scams. Also check with the Better Business Bureau. Don't give your social security, date of birth or other information out over the phone or internet unless you know who you are dealing with. Bottom line: you should be able to say "I'll get back with you" to any purchase and if they do a "now or never" on you, walk away.
11. Libraries. Membership to Colorado libraries are reciprocal and you can get free books, videos, computer access, classes, research assistance, job help, tax information. This is one of the best deals around.
12. Entertainment: Look for "free days" or matinees or other bargain times for museums, movies, plays, concerts.
13. Check out Fees and Deals at http://feesanddeals.blogspot.com/.
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