Joe's Money

This seems like a obvious money saver yet some of us never buy anything used.  You can buy almost any item second hand.  This could include things like video games, movies, appliances, TVs, clothing, and cars.  Buying your car used will save you thousands.

There are great resources out there to help you save a fortune by buying used.  You can find almost anything online these days.

Craigslist

Craigslist has more than one use.  Obviously, you can find tons of used good here ranging from lawn mowers to video games, to light fixtures for your home.  Most on craigslist sell at a pretty good discount compared to buying new in the store.  More times than not, you can find what you’re looking for here.

Craigslist also has a services section.  Need some work done around the house?  Check it out!  I have seen great bargains to be had here.  Lawn and snow services, plumbers, computer technicians, etc.  You name it they are out there.  You can even use the wanted section to have them find you rather than the other way around!

Another great section on Craigslist is the cars and trucks for sale.  There are TONS of listings on here.  Skip the dealer, shop from home.  Both dealers and individuals can list here but private party is almost always cheaper than buying from a dealer.

Garage sales are also posted on Craigslist.  Garage sales are a great way to find many heavily discounted items.  Take a look!  This can help save you a lot of time too.  Rather than driving aimlessly to all of the sales in the area, use Craigslist to find only the garage sales that may have the items you’re looking for.  In most ads the garages sale host will list many of the items available.

Ebay

Ebay offers many of the same things that Craigslist does.  Ebay however is not limited to the area you live in though.  Ebay has more buyers and sellers than any other auction website.

Top 10 Things to Buy Used to Save a Fortune:

1.  You next automobile

Buying a used car will not only save you money on the purchase price but you insurance premiums will likely be lower.  Also, if you finance your car, you will pay less in interest since you should be able to pay it down faster.

2.  Clothing

People love to go clothes shopping all the time.  Let them spend the big bucks.  When they unload their 6 month old clothes that have been worn twice, you can realize the savings.

3.  Appliances

Used appliances usually go for a fraction of the new price.  If you can’t find exactly what you’re looking for, try a scratch and dent liquidator.

4.  Baby clothes

Obviously, the kids will out grow their clothes quickly.  Grab used items and save a bundle.  And, when your kids out grow them, you can resell them again.

5.  Entertainment items – Movies, games, etc.

Used movies and video games often sell for significantly less than they do new.  Check out eBay and Craigslist for some great bargains.  Many times, you can even trade with other parties and pay nothing!

6.  Computers

Computer junkies are known for upgrading their computers constantly.  The average user doesn’t need to be on the leading edge.  Do your homework and find something used that will fit your needs.

7.  Auto parts

First off, never buy from the dealer.  Even the auto parts stores will be much cheaper.  Craigslist as well as salvage yards can get you the same parts for much less money out of pocket.

8.  Tools

Tools are another category of items that seem to drop in price quickly.  Do it youselfers often come to the conclusion that they should have hired a professional and end up selling their tools at huge discounts.

9.  TVs

Another entertainment purchase.  Like computers, some people prefer to be on the up and up with this technology.  Take a look at the used ads and you can often get current or only slightly older models for a fraction of the new price.  Remember, even if you buy new, there is going to be something better in 6 months.

10.  Furniture

Furniture can be had for extremely low prices.  Especially now.  With all of the foreclosures happening, there are tons of deals out there with folks needing to unload their furniture.

For Average Joe’s Automatic Investing is the Only Way to Go

When it comes to money and saving, us averages Joe’s tend to procrastinate more than with anything else.  The “I’ll start saving tomorrow” idea isn’t going to work.  Unless you are one of the fortunate ones that manages to do this without thinking about it, automatic investing is the way to go.

You can setup automatic investing for almost any type of account.  401K accounts are among the easiest, IRA accounts, regular savingss accounts, education 529 accounts, and so one.

401K accounts are the easiest.  You set them up with your employer and the money comes right out of your check.  If you start doing this immediately when you start your new job, its almost like the money wasn’t there to begin with so you don’t miss it or even realize it was ever there to begin with.

Roth IRAs, traditional IRAs, and brokerage accounts can be setup online with any major discount brokerage firm like Fidelity or eTrade.  You can set how often the money is transferred, it could be weekly, bi-weekly, or monthly.

Standard savings accounts, including online accounts (which typically have better rates than local branches) can also be setup for automatic saving.  You can have either the bank setup the automatic transfers from your checking to your savings accounts and in many cases you can even setup your direct deposit with your employer to automatically transfer a portion of your check to your new savings accounts.

Education 529 savings plans also usually offer a automatic investment option.  These work very similar to the IRAs and brokerage accounts.

Keep things simple.  Setup your automatic investing and savings.  Its one less thing to think about for your financial well being.

Follow these tips and save tons!

1.  Remove unnecessary items.  The lighter the load, the less gas it takes.
2.  Use sites like GasMoney.com to find lower gas prices around your area.
3.  Use lower grade fuel if your car will accept it.
4.  Keep your distance and anticipate traffic changes, the longer you keep the car in motion without stopping, the less gas is used.
5.  Control your emotions, don’t floor it around the slower drivers!
6.  Use cruise control on highways.
7.  Don’t accelerate to stop signs and red lights.
8.  Drive at the posted speed limits to save gas and avoid costly tickets.
9.  Don’t warm up your car.  Driving slowly and avoiding hard acceleration  for the first few miles does the same thing.
10.  Avoid toll roads if you can.
11.  Use a GPS.  Find the shortest route possible.
12.  Car pool.
13.  Walk if the destination is close enough.
14.  Cover all of your stops in one trip.

Here are 5 quick tips to help you save money this month.  These are simple tricks that if executed, can help you save money.

Track Every Expense

In my opinion, the easier way to find ways to cut back on spending is to track where every cent you spend goes.  A precise log will show you where your money is going.  More times than not, there will be a few eye openers at the end of the month.  Its much easier to cut back when you actually know where you are spending.  There are multiple software titles available to help you enter in your expenses into many categories, you can even create your own.  Or if you like, a simple spreadsheet can do the same thing.

Vacation at Non Peak Times

This simple trick can save you hundreds of dollars.  When you are thinking about going on your next vacation, use tools like Expedia to look at rates for different parts of the year.  Non peak times obviously have the best rates.

Also, if you have friends or family living at your vacation spot, consider the option of bunking up with them for the duration of the trip.  Keep in mind you spend the least amount of time in the hotel.

Make an Effort to Lower Your Investment Fees

Take a look at your investments statement.  Take a look at the fund prospectus and find what the fees are.  Index funds are usually much lower in fees than actively managed funds and they usually out perform the actively managed funds.  Actively managed funds can have fees of up to 3% or even more while index fees can be had as low as .02%.

Stop Eating out!

Eating out for lunch everyday can add up, and fast.  A $6 quick lunch everyday adds up to $120 per month assuming 20 working days.  Buying food at the grocery store almost always costs less than dining out even at the fast food type restaurants.  On top of the savings, I’d guess the meals would be much healthier too.

Downsize your Vehicle

If you drive to and from work and have a gas guzzling vehicle, downsizing your car can save quite a bit on gas.  SUV lovers, sorry, but if you want to save up, it might be time to think of a small commuter car.  Even though gas prices have come back down from the peaks, $2.50 a gallon is still no deal.

Lower Your Utility Bills

This can be an easy win for many people.  Its pretty simple.  In the winter, turn down the heat.  In the summer, turn down the air conditioning.  Dress appropriately for the weather, even indoors.  Last year, turning my thermostat down only 2 degrees more in the winter saved upwards of $50/month.  The furnaces ahs to work overtime to provide those toasty temps inside.

I finally gave those compact florescent bulbs a shot too after paying a pretty penny for not so hot lighting years back.  Not only are they a money saver on the electric bill, they last much longer, and light quality is much better.  These can be had for just over a buck a piece now.  I picked up a 12 pack at the big box home improvement store recently for about $13.

An emergency fund is a very important tool in your quest to be debt free, staying debt free, and your overall financial fitness.  It shows that you CAN find money to save and it also prevents you from going back into, or further into, debt.

Start small, save one months expenses before making any more than the minimum payments on all bills.

The emergency fund should only be used for true emergencies.  Examples would be furnace needs repair, car needs repair, etc.  This should not be used for new toys for yourself or even for gifts for others when you come up short.  Those types of items should be budgeted for in your monthly budget.

The best thing that saving a months pay will do for you is protect you from either going back into debt, or putting you further into debt when trying to get out.  This will give you some protection to help aid in your quest to becoming debt free.

Ideally, your emergency fund should eventually be at least 6 months pay.  After saving your first months pay, pay off all other debt besides your mortgage and then start building you emergency fun.  The monthly expenses to calculate the 6 months expenses should include everything from your mortgage to your cable TV bill.  Anything that you are not willing to cut should be included.  Obviously if times do get tough enough, canceling cable TV would be a wise idea!  Basically take a look at your budget.  Everything listed there should be included in calculating your emergency fund.