Mid-day Money Minute 3/5: Buy In Bulk- Even Chocolate Chips

March 5, 2012 by 1 Comment

Do you shop at a price club? Studies have shown that you save on average 30-35% on the cost of groceries purchased in a price club vs a grocery store. The key is to only buy what you will be able to use before needing to throw it away. It isn’t a great deal to save 40% on a gallon jug of mayo, if you don’t use much mayo. Guess where your savings go? Down the drain (or in the can).

So what items are big money savers for us? Lets look at a bag Nestle Semi-Sweet morsels at Lowes Foods (a moderately priced grocery store), at Walmart, and at BJ’s Wholesale Club (the club I belong to).

So here is what I found out. Lowes sells Nestle morsels for 24¢ per ounce. Walmart sells a bag twice as big, for 19¢ per ounce. How did BJ’s Wholesale do? Their bag is 3 times larger than Walmart, 6 times larger than Lowes. The large bag price was less than 14¢ per ounce. Now you have to say to yourself, who could use 72 ounces of chocolate morsels?

Well, we do. How long do you have to use them before they are no longer tasty? According to StillTasty, morsels have a shelf life of 2 years. So would you use 6 of the small grocery store size bags in 2 years, to save almost 50%? And yes, price clubs accept coupons too.
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Mid-day Money Minute 3/1: Every Price Can Be Negotiated

March 1, 2012 by 1 Comment

Yes, you can negotiate every price. You might not succeed in lowering the price, but you won’t know until you try.

An example: we needed to have our Wii until repaired. I did the troubleshooting, and checked online for solutions from other consumers. No luck fixing the unit. I called the (800) # for Wii, and surprisingly got through quickly, even on a Sunday. After explaining the issue, I was quoted a price of $85 for the repair. I asked if there was any way to lower the price, as I didn’t want to spend that much money on a console we rarely used. The rep lowered the price to $65. I asked again for a better price, suggesting that the rep could speak to a supervisor to get approval. 30 seconds later, my cost came down to $42.50 for the repair. And they included FREE shipping. All because I asked.

Will you be able to lower every charge? No, but unless you give it a shot, you’ll never know.

 
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Mid-day Money Minute 2/29: How To Save Money Shopping For Car Insurance

February 29, 2012 by Leave a Comment

Before we read what the experts say, I’ll give you my tip. Take a day once a year to shop and compare. It’s nice if you can stay with one carrier for many years, but not at the cost of spending too much money.

1. Comparison shop Prices vary from company to company. Find out the minimum amount of car insurance you must carry. Obtain car insurance quotes from at least three insurers. But don’t shop on price alone: Look at the company’s reputation, its customer service and the type of coverage and discounts it offers.

2. Ask for higher deductibles If you file a claim, the deductible is the amount of money you pay before your insurance kicks in. Higher deductibles mean lower premiums. For example, increasing your deductible from $250 to $500 on collision and comprehensive coverage could reduce that portion of your premium by 15 to 30 percent. Increasing it to $1,000 can you save you up to 40 percent or more, according to the Insurance Information Institute (III). Just make sure you can pay it in the event that you need to make a claim.

3. Drop collision and/or comprehensive coverage on old cars If your car is totaled in an accident, you receive the actual cash value of the car. Although car insurance companies use their own criteria to determine fair market value for vehicles, you can get a ballpark estimate from NADA Guides. For older cars, it may not make financial sense to pay premiums over many years to maintain collision and comprehensive coverage. As a general rule, it doesn’t make sense to buy comprehensive and collision coverage for a car worth less than $1,000, according to III.

4. Buy a car that’s cheap to insure A car’s “loss history” affects its collision and comprehensive insurance premiums. If other drivers of your model file frequent or expensive claims, insurance rates for your car will be higher than average. Insure.com’s car insurance comparison tool lets you research average premiums for more than 3,000 models of new cars.

5. Take advantage of low-mileage discounts Some car insurance companies offer discounts to drivers who put fewer than a predetermined number of miles on their vehicles each year.

Source: Insure.com
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Mid-day Money Minute 2/28: Save Money Buying Video Games

February 28, 2012 by Leave a Comment

Luckily, Alex isn’t too demanding when it comes to video games. We have a Wii, and haven’t bought a new game for months now. My Sister however, has 2 boys, and they are constantly visiting GameStop for new games.  So how can you save money buying games?

Video games are a multi-billion dollar industry. If you`re on the cutting edge when it comes to new brand new console games, you already know they`re not cheap. However, there are ways to save when it comes to picking up video games.
Between the PC and three major consoles, new video games are getting louder, smarter and more sophisticated every year.
“They never stop making them. A big fan base. There`s no point if it`s not broken, don`t fix it,” said Dave Bloomingdale, manager of Rock 30 Games.
And if you think video games are strictly a young man`s domain, you`d be mistaken.
“Parents, grandparents, children, we get an older gentleman in here all the time, probably well in his 50s who buys consoles and games all the time,” said Bloomingdale
Accodring to Bloomingdale, when it comes to buying games, there are some ways to save. Number one, there`s no sense paying $60 for essentially the same football game every year.
“Once Madden `13 is announced, they drop the price. When the price drops, people are more interested in picking it up if they didn`t get it before, because sports games come out all the time.”
Second piece of advice, if it`s a game you don`t play anymore, trade it in. “The majority of the stuff we take in for either in-store credit or cash.”
Third, check your nearby video rental store. They often sell older games for pennies on the dollar compared to new games. And if it`s scratched in any way, you can get it repaired relatively cheap. “Scratching is what will trip up a disc. Finger prints also do it.”
The final way to save: look for a multi-player game that has a high user rating. You can invite friends over and get hours of free entertainment. Which will leave a little change in your pocket.
Bloomingdale adds even older game consoles such as Atari and Nintendo are becoming collectors items for older generations. Depending on the game, you can trade them in and make a tidy profit.

Source: KFYR TV
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Mid-day Money Minute 2/27: How To Save Money On Picture Frames

February 27, 2012 by Leave a Comment

We hang a lot of pictures, so we use a lot of frames. How can you save money when you buy your frames? Here are a few suggestions from eHow:

  • Shop dollar stores. Many of the chain dollar stores have a large section of  frames with designs ranging from plain wood to bejeweled and colorful plastic or  metal.

  • Scour thrift stores, yard sales and estate sales. You can find beautiful  frames at a fraction of the original price when someone has moved, downsized,  redecorated or passed away. If you find a beautiful frame with broken or missing  glass, head to your local hardware  store, where they will cut you an inexpensive piece to fit. If the frame is a  standard size, buy a plain frame of the same size at the dollar store and use  the glass.

  • Spruce up frames. You might hit a mother lode at a yard sale and walk away  with a box of frames at pennies apiece. If they are boring or dated, fix them up  to suit your decor. A can of spray paint or some glue and glass beads can make a  world of difference.

  • Clip coupons. Craft stores such as Michaels frequently publish coupons in the  Sunday paper. Use them to garner frames at deep discounts. Or find Internet  coupons for great deals on the perfect designs for your  home.
  • Use a digital frame. While these are not necessarily cheap, consider this:  you don’t have to print your photos, and you can show off several of your  favorites using only one frame. This is also a great option if you are short on  space but long on pictures
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Mid-Day Money Minute 2/26: Don’t Spend Money On Drain Cleaners

February 26, 2012 by Leave a Comment

You have everything you need to keep your drains clear, just sitting in your refrigerator.

I’ll give you a hint, think Humpty Dumpty. That’s right it’s the common egg. The egg-shell, actually.

You don’t have to use expensive, harsh, toxic chemicals to clean your drains anymore. Egg shells are excellent for this job, without any harshness to your hands, sink or drains. Just crush the shells as fine as you can and let them sit in the sink drain basket. Each time the water runs, the egg shells will make their way through to your drain pipes. Egg shells act as a safe abrasive and will help to get rid of any grease or hair buildup, or whatever other unidentified refuse you’ve had accumulating. Be sure to save all your egg shells, enough to do all the drains in your home. You’ll find that your pipes will be cleared and always flowing smoothly.

Source: Helium.com
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Mid-Day Money Minute 2/25: Take Advantage Of Energy Saver Rebates

February 25, 2012 by Leave a Comment

The US Dept of Energy offers many different types of rebates. Before you buy something, you can check the DOE website here to look for available rebates.

Consumers can find financial assistance for energy efficient purchases and improvements in the form of tax credits, rebates, and energy-efficient financing.
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Mid-Day Money Minute 2/24: How To Make Money At A Garage Sale

February 24, 2012 by Leave a Comment

Do you know all that stuff just sitting in the guest room closet? Or the garage? Or maybe clothes that your kids outgrew 5 years ago? Imagine those are dollar bills sitting there, just waiting to be gathered up and used.

Garage sales are a great way to clean up the clutter that has accumulated over the years. Wikihow.com has a great article explaining the steps to take to hold a successful garage sale.

My biggest advice? We have done really well at garage sales when we mark items cheap. There won’t be much need to negotiate, if the price is right on the label.

Remember that your goal is to leave without the stuff you brought, so if it means selling for a low price, sell it!
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Mid-Day Money Minute 2/23: Reuse Your Plastic Grocery Bags

February 23, 2012 by Leave a Comment

Here is an easy tip to save you on your trash bag expense: use grocery store bags to line trash cans. This may not work if you use a massive trash can, but we use a small-sized one for which the grocery bags are a perfect fit. This not only helps us save some money, but reduces our environmental foot print and avoids the kitchen from stinking from a huge overflowing trash can.

If you’d rather recycle your grocery bags, there is another way to save on trash bags. Try not to throw anything away. Recycle every possible item, know your local recycling rules. Start a compost pile for leftover food products. Whenever possible, fill your bag to almost overflowing before changing it. Any other suggestions? Leave a comment to share your best practices.

 
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