Saving money is popular and very sexy. Why would you want to splurge your minimal income on crap that ends up in a garage sale anyway?

Emergency funds are meant to be kept for tough times. In today’s socio-economic times it is more important than ever to keep some money on the side for a rainy day. Most financial advisers recommend you save about 6 months worth of living capital which will cover your expenses should you lose your job, or run into financial hardship.

Most people worry about emergency money when they need it. If you do this, then it is too late because you are already facing a mountain of potential debt.

Job loss, unexpected bill, health problems

All of the above can move you over the financial edge, making your life an absolute nightmare. If you wait in the hopes of never needing an emergency fund you are kidding yourself. It would be like traveling without getting insurance cover, or driving your car without insurance (which is criminal to say the least).

I don’t earn enough, how can I save?

This is one of the excuses (albeit relevant) of many people. Please do not make the mistake of blaming your lack of income for not saving up for an emergency fund. People worse off than you have managed to pay off debt and more in a relatively short time frame.

If there is a will, there is a way and you could start with putting aside $5/week if that’s all you can afford.

A matter of interest

To invest your emergency fund for the most return open up a no-cost savings account that will give you good interest rates. While this might not matter much in the beginning, it will soon compound once you save a few hundred dollars.

What about excess pay?

If you receive an unexpected surplus of money, why not pay it straight into your emergency fund. That way it will earn interest and you can decide whether you really need that piece of clothing you put your eyes on.

Frugal is all the rage

Saving money is popular and very sexy. Why would you want to splurge your minimal income on crap that ends up in a garage sale anyway? If you are brutally honest with yourself you will notice that a lot of the stuff you own is not really needed.

Humans buy stuff out of frustration and a need for love. We wrongfully look for that special kick when buying luxury items (stuff we can live without but believe we can’t).

A good way to slowly change your mindset is by alternating your weeks between “normal” behavior and frugal living.

Emergencies do happen

No one is save from emergencies. You could receive a large unexpected bill in the mail tomorrow, throwing your financial situation into the gutter within a tiny second. While nobody wants to experience financial meltdown, you increase your chances of dealing with it by planning your emergency fund and then implementing that plan.

Saving is fun

If one day you find yourself with more money than you really need in your emergency savings fund you can splurge and buy something REALLY nice as a reward for sticking it out.

About the author

This article was written by Timothy who is a regular writer and part of the team at Credit Card Finder, a 100% free Australian credit card comparison and application service. Visit the Credit Card Finder website for more information on starting an emergency fund, or subscribe to their RSS feed for more practical articles.

Popularity: 31% [?]

Monthly bills have a way of piling up quickly. Spending a little here and a little there can end up being a little too much altogether. While everyone would like to live like millionaires, the harsh reality is that few people can. Giving up the little luxuries in life is not something that anyone wants to do. Luckily, there are a few tips for cutting back the monthly expenses without giving up the luxuries that so many hold dear.

Cable Bill

The first tip to consider is to look at the cable bill. Too many people settle for high channel package pricing so they can get their favorite channels. What few realize, though, is that there are DISH network packages that provide all the channels that cable customers love-and these options come with much more reasonable prices. Many people are amazed at the savings they can accumulate every month by simply switching television channel providers. Many have saved as much as $30/month by simply switching to DISH network packages. By doing so, the amount going out is less while the services are the same-or even better.

Cell Phone plans

The same is true for cell phone plans. Cell phones are quickly becoming the vital accessory that everyone is carrying. Even children are joining in on the cell phone craze. Examine the bill and see how many minutes are really used each month. Many cell phone users don’t get close to their allotted amount of minutes. When this is the case, downgrading cellular plans will undoubtedly end up saving money while still providing the same services that have been used in the past. Those who switch to a lower plan, especially on multiple-line plans, can save as much as $40/month.

Dry Cleaning

Dry cleaning is one monthly expense that would seem unlikely to cut down on. The savvy savers know all too well, though, that there are discounts to be found on any type of service. There is a lot of competition for dry cleaners today, which is why they are continually offering discounts and promotions. These discounts and promotions are simple to find by doing a quick Google search. Those that simply look for a dry cleaner in their area advertising promotions will rarely be disappointed. Savings every month could add up to as much as $30 this way. Looking at the options available always provides the opportunity for savings without cutting back on the quality or amount of services rendered.

About The Author

Eric Rea is a thrifty college student that loves all kinds of sports and watching them on his DISH Network channels.

Popularity: 19% [?]

First, I want to be clear that I’d rather find ways to earn more and make my money work than focus exclusively on reducing costs. However, I’m also a realist and in this economy many are in a position (some for the first time) of having to cut costs AND find a way to earn more.

I’ve been on a diet and I find there are parallels between cutting calories and cutting costs. Both surprise me in how small amounts add up to big differences over time! It’s much easier to prevent costs than to try to figure out a way to make up for them. All of this has to do with choices we make every single day, most seemingly insignificant.

I tried to address each tip from different perspectives. Comparing this to a diet again, if I told you to cut out all soda but you don’t drink it anyway, that advise wouldn’t be helpful. Also, I might have more luck getting you to cut it way down rather than getting rid of it altogether.

Don’t go to the Movies or Find Alternatives

Unless it’s a dollar theater, it’s best not to see new movies on the big screen. It’s gotten so expensive just to get in. Then you sit through ads for 20 mins. If you order popcorn and a drink for each person then you’re quickly paying a lot for the experience. However, some people will never cut this out, so I’ve given 3 options depending on your values.

1. You are an occasional movie goer: get movies on Netflix or Redbox movies.

2. You won’t give up going to see some movies in the theater.

Whether it’s your standard date night activity or you’re so into the experience that you’re willing to pay for it, some people aren’t going to cut here. So eat before the movie so you’re full. Go get dessert after rather than buying popcorn or treats there.

3. If you watch a lot of movies, get DISH Network or other subscription service so you can watch them more often without paying for each or the hassle of renting or sending movies one at a time. DISH claims to be the low price leader, with pricing lower than cable or DirecTV.

Facts: ABC News reported in July 2008 that even a small popcorn costs around $5.50. That’s more per ounce than filet mignon. University of California-Irvine professor Richard McKenzie says popcorn costs less than ten cents an ounce to produce. The markup for popcorn then is somewhere between 900%-1,300%!

Avoid Brand Name Prescription or Over the Counter Medication

Yahoo! Finance points out that the markup is around 60% for name brand medicine. Are name brand products superior? No (even though perception are that they are better, that’s just good advertising). Here’s some comfort for you: the law requires all generic drugs to be just as effective (and even use the exact same active ingredients) as the branded drugs they are modeled after.

1. You only have brand names to choose from – order in bulk (some insurance plans have this option). Ask the doctor for samples. Wait for the generic version or for the product (if it’s over the counter) to go on sale or look for coupons on the brand’s web site.

2. Buy generic drugs or store brand.

3. Change your lifestyle so you aren’t dependent on drugs (if this is realistic based on why you are taking the medication). The cost of a gym membership or a dietician could be cheap if you get healthier and no longer need the medication.

Bottle your own Water

LockerGnome.com reports that the claims that bottled water is superior to its free alternative, tap water, are essentially lies. Dasani, and Aquafina, for example are just bottled tap water. You can pay $1.25 for 1 bottle or pack your own in a reusable water bottle for under a cent for the same amount. Many public drinking fountains have been removed which correlates to higher sales of bottled water.

When I travel I always have an empty water bottle. Once I check in and pass security I fill it up at a drinking fountain. That way I avoid paying triple or more for bottled water and don’t have to wait for the stewardess to bring me water. Expect that at just about every event or trip you go on will necessitate water and plan ahead by bringing it with you.

1. If you must buy bottled water, get the store brand on sale. If you want the brand name, get it once then refill the bottle with tap water.

2. Don’t buy bottled water at all – plan ahead and always have water with you.

3. Order tap water instead of bottled water, soft drinks or alcohol when you eat out (make up a strong case for it in your head – you’re on a diet or the like).

Some cities have gone so far as to require restaurants to offer tap water because of the negative environmental impact of throw-away bottled water.

In conclusion

Overall, keep in mind that you can adjust to new habits and that they can make a big difference over time. Don’t think in restrictions, think of alternatives. You can still have the same quality of life for less if you’re willing to give up some ego or make some small changes.

Hat tip to Bill Shrink

About the Author

Janet Thaeler is an accomplished PR expert, blogger, and published author. She currently resides at OrangeSoda.com where she provides killer press releases and social media.

Popularity: 27% [?]

Coffee is big business… really big business. In fact, it’s a $10 billion dollar a year industry that you’re fueling. Everytime you go to the cafe or take a coffee break at work, you’re contributing to the global coffee industry. If you’re a big coffee drinker, you definitely feel how it affects your wallet. Consider the busy soccer mom that always grabs a large cup of specialty coffee at her favorite cafe every morning while driving her kids to school. A simple $4 cup of coffee per day over the course of a year adds up to over $1200, now that’s nothing to sneeze at.

1. Buy a Mug

With all of the drive coffee-thru’s, it’s tempting to grab your favorite coffee drink especially when you’re on the run. Buying a coffee thermos or mug is a great way to avoid that temptation. Just make sure you fill it up when you leave the house.

2. Rethink Pricey Coffee

Lots of blind taste tests prove the the high-end, fancy, expensive coffee often times is comparable (if not worse) than the regular stuff. For example, you can save about $0.40 per cup by buying Dunkin Donuts instead of Starbucks. But if you choose to buy DD beans and grind them at home, you can save over $1200 per year on coffee alone! Now that’s a lot of money. You could plan a family vacation with that much money.

3. Be Your Own Barista

Just buy your own coffee and flavor it yourself at the condiment stand. You can get an espresso and make your own latte by adding milk and sugar. Or you can get an iced latte and ask for extra syrup. If you like flavored coffee, you can add spices like cloves, cinnamon sticks, orange peels, vanilla, etc to your whole coffee beans. Just grind them together and you have your own flavored coffee. Of course, you’ll have to do a bit of trial and error to get the tastes exactly right, but it’ll save you money in the long run. Besides, you might even come up with your own concoction.

4. Buy Second Hand Gift Cards

Gift cards won’t alone won’t save you money. But if you’re feeling creative, you can look for used or unwanted gift cards on the popular online auction sites like Ebay and Craigslist. Your employer may even offer discounts to popular restaurants and coffee shops as an employee benefit so check there too.

5. Natural Energy Fix

If you just guzzle coffee for the caffeine, consider substituting it with exercise and fresh fruit. Exercise is well known for increasing energy, but scientists also say that eating an apple increases alertness as much as a cup of coffee. Not only will your body thank you, your wallet will too.

So here are 6 easy tips to save lots of money on coffee. Feel free to sound off with more creative money saving tips in the comments.

About the Author

The Coffee Maker Store is a daily blog and e-commerce store about coffee, coffee makers, and coffee culture. Check it out for the latest coffee tips, tricks and news.

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Popularity: 6% [?]

Ah yes, the holiday season is almost upon us. And in the midst of the worst financial crisis since the Great Depression, some of us are cringing in horror at the prospects of having to keep up the appearance of a ‘typical’ Christmas. But why? So the next day the family can haul their loot to far off corners of the house only to have it be forgotten in a week or so. What exactly have we come to? $15 CDs, $20 DVDs, $25 gift cards as stocking stuffers! What happened to some peppermint sticks, a plum, and a few oranges, turning the kiddies inside out with delight? If you’ve had it with the ridiculous costs of Christmas, here are a few ways to cut your costs while keeping the holiday spirit of giving intact.

1. Do it Yourself

It’s time to put some of those seldom-used skills to use. Are you proficient at carpentry? Have you a knack for music? Is it possible you could force yourself to cook? Consider making your own Christmas gifts this year. A CD of favorite songs for a loved one, a new handmade dresser or jewelry box, or a dinner cooked to order could be wonderful, not to mention inexpensive Christmas gifts.

2. Husbands and Wives

Women love to be pampered, and men … well, men like attention just as much as their wives. Making coupons for free massages and home spun spa treatments can save you money and get you both you some great pampering time.

3. Child’s Play

It typically isn’t until ages four or five that children begin wanting new, unused toys. Until that point, why spend the money on store bought items when the kiddies are just as happy with used toys or hand-me-downs? Trust me - unless you have a baby Einstein on your hands, they’ll never know the difference. My child has been playing with garage sale finds and family hand-me-downs for three years now and never complained once.

4. Make Stockings Fun Again

You don’t need gift cards, CDs, iPods, cell phones, DVDs, and video games to stuff stockings. Stockings are meant to be filled with little treats that shouldn’t break the bank. Toys, food, candy, and games, are perfect stocking stuffers, many of which can be found at discount or dollars store and can allow you to fill a friend’s or family member’s stocking for $10 or less.

5. Vacation Celebration

Make memories that count this Christmas. If you typically take the family on a yearly vacation, consider making that their Christmas present. You were going to spend the money on it anyway, but doing so at Christmas can allow you to make it a ‘family present’ and could possibly get you out of the cold weather for a while.

6. Play it Again

Logic would tend to point to most people rather having 20 used CDs as opposed to three brand new ones. Yet, seldom do we see resale items showing up as Christmas gifts. As long as the used items still work well, there isn’t much difference except for price. It’s the same for video games and DVDs. With online vendors offering all but the latest releases, going used is a great option for lightening the financial load at Christmas time.

7. Parental Presents

What happened to the days when kids actually made things for their parents? It seems that nowadays kids are asking for money to go out and buy mom this or find dad that, when all parents really want is something from the heart that shows their children still love them like they did when they were three.

8. Start Early, Save Big

One of the best ways to reduce costs during the holiday season is not to wait for the season to arrive to begin your shopping. Keeping your eyes open for deals throughout the year will decrease the pressure on you to run out and buy something that isn’t on sale because you waited until the last minute.

9. Brand Name Pressure

Due to advertising and fashion trends, we often feel tremendous pressure to buy brand name products when we can find store brand items of equal quality for half the price. If you want to save, don’t be swayed by those savvy advertising executives. Buy for quality and price, not just for a name.

10. Trade ‘n Go

If you’ve given up on Christmas gifts altogether, you can always do what my grandparents used to - trade fifty-dollar bills and head out to Walmart. On a serious note though, consider exchanging gift cards to restaurants you like, or stores like Target, Walmart, Home Depot or Lowe’s. This way you can enjoy your gifts and get what you want, while having the option to use them for practical things like going out to eat or doing home repairs and improvements.

About the Author

Kris writes about managing personal finances for an Australian credit cards comparison website where you can can compare 0% balance transfer and cash back credit cards that help you save money throughout the year. In his spare time Kris enjoys reading and spending time with his young family.

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Popularity: 7% [?]