More Ways to Save

A few weeks ago I wrote a blog about ways to save. Well here are some more ways to save that I have come up with.

1. Borrow from others
I keep my Netflix membership to 1 movie a week so for those in between times I borrow DVD's from friends and from the research library at work. It helps to have DVD's to trade with friends.

2. Pay bills online
It may not be a lot but I save on stamps by paying most of my bills online. I wish I could pay all my bills online. The only I can't pay are my rent and mortgage. Mortgage company charges a fee to deduct the payment monthly, which I think is crazy, how are you going to charge me from withdrawing from my checking account? It's not like I'm paying my mortgage with a credit card, then I could understand the transaction fee. I tried online bill paying for my rent but there was a huge delay in processing by my management company because they act like they couldn't figure out which account to credit the money since the monthly slip was not included with the payment. So I have to rely on snail mail for those bills.

3. Start a side hustle
Remember all those great business ideas you once wished you had time to pursue? Well, many of us now have the time, and while, sure, the economy sucks, a good idea diligently pursued can still succeed. Perhaps now is the right time to begin a side business, to pad your take-home pay and cushion you against a sudden job loss.

4. Work for the census
Talk about perfect timing; just as the nation's unemployment rate skyrockets, the U.S. Census Bureau begins staffing up for the 2010 nose count. If you have a curious nature and a desire to make some extra coin in 2009 and beyond, the Bureau is accepting applications now. And the Census is only one Federal opportunity.

5. Argue for Tax Abatement (see this youtube video for more info)
You could be paying more for you home in property taxes than what it is actually worth. Check with your municipality on when you can challenge your assessment. When you are next able to, file the appropriate paperwork. Be prepared, however, to prove to the assessor's office that your real estate has a lower value. You can do that by comparing it to similar properties that have recently sold in your neighborhood, the assessments of like properties near yours, or a recent appraisal of your property. Getting a proper value assigned to your house can save you hundreds or thousands of dollars each year. A little homework on property values can go a long way toward putting more money in your pocket.

6. Put Your Savings Auto Pilot
By now, you've likely automated everything from your cable bill to student loan payments, so why not automate your savings? Setting up an automated savings plan is incredibly simple and automatically paying yourself every month is a great way to avoid living paycheck to paycheck.

7. Have an enormous garage sale
I mentioned last time that you should sell your junk. Well I didn't tell you how to sell your junk. Most of you will probably do it on ebay or craig's list but there is the good old fashioned way. A garage sale. You'll be thrilled with how much you make, and the empty spaces left behind could be good for your soul.

8. Use Coupons
When I was a kid I would go through the Sunday paper and cut out coupons for my Mom. When we went grocery shopping I would have to remind her we have a coupon for this or we have a coupon for that. My Mom wasn't really big on cutting the coupons and keep track of what you have coupons for. When I got out on my own I used to have coupon shopping trips. If I didn't have a coupon for it I didn't buy it. But there are now digital coupons and some stores have gotten hip to the game...no coupon just show up on X day and the savings discount is automatic.

9. Buy I Bonds
Now this is new to me and I'm still doing some investigation of this. But so far I have learned that I Bonds are a low-risk, liquid savings product. While you own them they earn interest and protect you from inflation. You may purchase I Bonds via TreasuryDirect, at most local financial institutions or through payroll deduction. The current annual interest rate for I Bonds is 5.64%. Not an all-time high, but compared to the alternatives, an appealing investment. Right now that's a higher interest rate than my Roth IRA and Money Market Deposit account.