Money Matters

Depending on which study you look at, anywhere between 33-76% of Americans live paycheck to paycheck. People are able to pay their bills, but they’re still in a bad spot because there’s nothing left over for savings. If there’s an emergency or unexpected expense, people often rely on credit cards, which only adds to the expense column.

Organizing your finances is an ongoing job, but it’s one of those domestic chores that really pays off. By tracking your budget at least once a month you’ll know where your money is going and where there are opportunities to save. Start by revisiting the six expenses below to see if you can get a better deal than what you’re currently paying.

Auto Insurance

Almost every state requires that drivers have a minimum amount of auto insurance coverage. It’s one of those expenses you just can’t work around. But you can save money by regularly comparing offers and taking advantage of discounts. Shopping around you’re also more likely to find specialty products like cheap auto insurance SR22, which certain drivers can use to meet driving requirements.

You’ll definitely want to revisit your auto insurance if you’ve cleaned up your driving record. Often rates are heavily influenced by recent accidents, traffic tickets and charges like driving under the influence. If it’s been a few years since the last blemish on your record, it’s worth the time to shop around for a new policy.

Health Insurance

Like auto insurance, health insurance is now a requirement. Some of us are fortunate in that we get a portion or all of our health insurance covered through an employer. Even if this is the case, you’ll have to select your plan, and the monthly premium is one of the top concerns for most people.

It’s tempting to just stick with what you have when the annual open enrollment period rolls around, but that could end up being an expensive choice. It’s not uncommon for providers to bump up the cost of a plan from one year to the next. The extent of the coverage, maximum out of pocket amount and deductible could also change.

Home or Renters Insurance

Even if you aren’t trying to reduce your expenses, keeping home and renters insurance up-to-date is extremely important. Both types of insurance can cover the cost of the items in your home if they’re damaged during a natural disaster or stolen. If you buy high priced items but don’t update your insurance there’s no guarantee those items will be covered.

When your living arrangements change or you need to update the coverage this is the perfect time to compare your current policy to other offers. You may also get a better deal by using the same insurer for both your home and auto insurance.

Home and Auto Loan Rates

Interest rates on loans are never a constant. They fluctuate because they are based on changing economic factors including Fed fund rates and the general health of the economy. The situation allows for a special financial tool called refinancing.

Anyone who got a loan before the recession or didn’t get the best rate because of a past credit score that’s since been improved stands to benefit by refinancing. There will be some upfront fees that have to be paid, but lowering the interest rate could save much more money over the life of the loan.

Utilities Rates

Do you live in a deregulated area? If so, you have the ability to choose a utility provider. All providers offer their own rates, which varies depending on the current price of gas and electricity production. Paying just one cent less per kilowatt-hour could help you save hundreds of dollars over time.

Since the rates for gas and electricity change all the time, it’s something you’ll need to keep track of if you want to get the best price possible. Typically, you’ll sign a contract for a specified period. Once the contract is up you can shop around and switch providers. Because you’ll be locked in for a certain amount of time finding a better rate can have a big effect on your budget.

Phone Service

If you’re like me you held on to an old cell phone plan for way too long. I had a grandfathered unlimited data contract that was over $100 even though I basically never used more than 5GB in a month. The thought of having the coveted limitless data clouded my financial judgment.

There are plenty of providers offering a variety of plans and special deals for new customers. Analyze your cell phone use over the last six months to determine the minimum amount of minutes, texts and data that a plan needs to have so you don’t get hit with overage fees. Next, find the plans that cover your needs and compare both the reliability of the service and the cost to find the best option.

Gift cards have become increasingly popular as a way to ensure that you give family and friends their hearts’ desires. You can stay within budget while dodging an endless search for the perfect keepsake; as a recipient, you avoid the inconvenience of a duplicate gift or the wrong size.

How They Operate

As commerce has migrated from stone-and-mortar stores to the internet, traditional gift cards have expanded to digital versions. Now you can purchase a gift card online, followed by the store emailing a digital card to both the giver and the receiver. In addition to vouchers tied to a single enterprise, there are also generic cards that function as a debit card, redeemable in a wide variety of places in the world as well as online.

Documentation Saves Time and Money

Since gift cards work the same as cash, it’s imperative to archive their purchase and use. Save a copy of the card’s code in your email, plus print a copy. If the total amount of the gift is not used immediately, keep any receipts to track spending. When shopping online, file all your emails: orders, receipts, tracking numbers, and card updates. Problems are unlikely, but if there is one, it will be easier to resolve if you have information handy.

Buyer Beware

There are times a store will close before you have the chance to redeem your voucher; contact them as soon as possible to confirm if you can use the gift card or redeem it in another fashion. Check if another enterprise has acquired the store from which the card originated; often they will honor the card.

Worst Case Scenarios

As with other digital information, gift cards can be subject to fraudulent activity. Scammers will remove cards from available displays and electronically or physically copy the card number before activation. Upon activation, they can immediately use the number to make purchases. When the intended recipient uses the card, the account is already depleted. To avoid this rip off, only purchase cards from a clerk, not from publicly available racks.

Even more common are online auctions that offer discounted cards; these are often invalid because of theft or prior use. Only purchase gift cards at the issuing store or from a website starting with https://, an indication that it is secure. Some stores offer card registration so you can discover fraudulent use faster.

However, don’t settle for disappointment if you discover that your gift card is worthless. The Solicitors Guru website can connect you with a professional to advise on your next step.

Opponents of gift cards argue that you’ve chosen the most impersonal of presents. However, you can still put effort into choosing a card that matches the interests of the recipient, be it for books, sports, fine dining, movies, travel…the possibilities are limited only by your imagination. The majority of time Gift cards work smoothly. But in the event of a problem, check with a family law solicitor to explore your options and legal remedies to make sure your benefactor intended.

Isn’t it every person’s dream to barely spend any money on groceries? Although eating is a must, it sure can get expensive to feed a family. Most people are usually told to use coupons to save on groceries, while that is helpful, it’s not always the easiest thing to do.

Saving money on groceries doesn’t have to involve coupon cutting, there are other ways to save. Like the following:

Cheaper Brands

For most Americans, it doesn’t occur to them to simply buy the cheaper brands. Sure, it doesn’t always taste like the name brand, but if you are trying to save money on groceries, you don’t always have a choice. Cheaper brands are typically the first to go on sale too because grocers can buy these items in bulk and help save their customers even more money.

Shop at Aldi

People, if you have an Aldi near you, you have to shop there at least once. It’s a grocery store unlike any other place in the America. You can get so many things super cheap; it’s amazing. Sure, some of the items are a little off, but you can save so much money. Aldi is awesome with saving because they make you do all the hard work to help you save. You bag your own groceries, push your own cart up to the store, and you even have to buy your own bags. There’s no convenience about shopping at Aldi, but it’s cheap, which can help you save money on groceries.

Start Meal Planning

One reason many Americans are not saving money on their weekly grocery bill is they have no plan of action. They are basically walking into a store without a plan. Meal planning will save you money and lots of it. Knowing what you are eating on a daily basis not only keeps you from overspending on groceries, but also keeps you from eating out constantly.

Buy in Bulk

Now, this isn’t a way for everyone to save money on groceries, but for many it is. Simply buying in bulk, helps you to get more product for your money. Bulk often means you save because you bought a ton together. Stores like Costco are notorious for their items that they sell in bulk. Perhaps buying your non-grocery items in bulk can help you lower your overall grocery bill.

Stick to Your Budget

And last, but not least—the most common sense way to save money on your groceries is to stick to your budget. Don’t go crazy on buying groceries and stick as closely to your budget as you possibly can.

When it comes to saving money on groceries, these tips can work wonders. What tips do you have for saving money on groceries? 

If your budget didn’t do too well in 2015, it may be time to revamp the family’s schedule in 2016. There are so many things you can do differently that can help make your budget successful this year. Revamping the family’s budget can be a relief for the entire clan when something goes wrong or something needs purchased. Make sure you check out these tips for revamping your family’s budget for 2016.

How to Revamp the Family’s Budget for 2016

Know the Facts

When it comes to making a family budget; it’s always better when you know what is coming in and what is coming out. Track your spending for a while to see what is getting spent. After you have a running total of what is getting spent, it is much easier to create a budget. A budget is essentially made up of how much money is coming in and how much money is going out.

Business Meeting

I would encourage you to have a business meeting with your spouse at least once a month. A business meeting can help your family come up with real financial goals. You can decide what goes into the budget and what gets tossed out. Let’s face it; no budget can have every single thing the family wants in it; some things may need tossed.

Everything Needs Budgeted

When it comes to revamping the family’s budget for 2016, keep in mind that everything needs to be put into the budget. If your kids are into sports, you’ll want to budget this. If your family is taking a trip somewhere, this will also need to be put into the budget.

Learn to Say No

Maybe what made your budget fail in 2015 was the fact that you said yes to everything. Make it a point in 2016 to say no to some things. Your child doesn’t need everything they want. Think about it, kids can live without some things they want and so can some adults.

Make Improvements When Needed

The best thing about budgets is that you can rework them when needed. Even if you have a family budget set for 2016, you can always improve it. Making improvements is always a good thing, it means you’re learning as you go. No one is perfect with their budget, but progress is great.

Revamping your budget is a good move to make this year. I’d love to hear your tips on how to revamp the family budget this year.