SERIES: MONEY CAN BUY HAPPINESS! EPISODE 4

In previous postings of this series I have provided tips on how to save money on groceries and utilities. In todays posting, I am going to give you some tips that will help you get the most for your money when buying a used car.

Women are especially prime targets when they are shopping for a used vehicle. Most women don’t know anything about cars and are generally uninformed when it comes to purchasing vehicles – AND THE SELLERS KNOW IT!

The best way to buy a used vehicle is to purchase it from a reputable name brand dealership. Read reviews and reports on your local dealerships to establish your best options. The Better Business Bureau is a great place to start your research. The price may be a little higher than buying from a private party but there are other valuable benefits available to offset the increased costs. Most reputable dealerships complete a thorough inspection of the vehicle and repair any major issues before listing it for sale. Additionally many dealerships offer some type of warranty on their used vehicles which is something you will NEVER get from a private party.

The second best way to purchase a used vehicle is from a private party. There are things to look for and ask about when buying from a private party. Look for vehicles that have only had one owner and have low milage.  Look for vehicles that appear well cared for and maintained. Ask if they have maintenance records for the vehicle.  Once you have selected a vehicle, get a mechanic or knowledgeable friend to go with you to check out the vehicle. Many mechanics will do a reasonable inspection of the vehicle for about $60-$100. Also, make sure the title to the vehicle is clean and has no liens.

Whether you are buying from a reputable dealer or a private owner, always get a Carfax report on the vehicle(s) you are considering. Most dealerships offer a Carfax report at no charge. Finally, NEVER purchase a vehicle without comparing the price to the Kelley Blue Book evaluation.

Remember that when purchasing a used car you want to get the safest, most reliable vehicle for your money. So make sure you use every avenue available to make sure your next used vehicle purchase is the right one.

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Series: Money CAN Buy Happiness! Episode 2

So in Episode 1 of this series I talked to you about evaluating your spending habits and being open to change for your financial benefit. Today we are going to reduce your utility expenses.

Utility expenses include electricity, water, sewer, phone, and cable. Most people don’t even utilize a home phone anymore. I addressed how you can save money on your cell phone bill in Episode 1 of this series. However, one expense that is the easiest to reduce is your electricity bill. Some of the oldest known remedies are still the most valid today. For example, changing the temperature settings on your hot water heater can save up to and over $100 a month (depending on your utility service). There is never a need for scalding hot water. You always end up turning the cold water on to make the temperature bearable and comfortable.  By adjusting the thermostat(s) on your hot water heater you are not only saving electricity. Most utility companies who provide your electricity also provide your water and sewer services. They all charge by how many gallons go into the house via a water meter. Generally the sewer charge is also calculated by how many gallons go into the house. So by adjusting the temperature of your hot water heater, you can also save on your water and sewer charges because you don’t have to add as much cold water to make it comfortable. Check your water heater’s owners manual to locate and access the thermostat(s) and reduce the temperature setting by at least 10 degrees. You will barely notice the difference while showering but you will definitely see the difference on you next utility bill.

Another way to reduce your utility expenses is by replacing your a/c thermostat. Many homes and apartments come with a mercury thermostat installed. You know— the one with the little plastic levers you have to move around. Mercury thermostats are notoriously inaccurate. You are always having to adjust them because the temperature in the house in just never quite right. A digital thermostat can be purchased economically and is much more accurate. Energy Star estimates that you can save upwards of $200 each year on your energy bills just by having a digital thermostat installed. And all of them come with installation instructions. If you can read and follow directions installing one is easy.

Next is evaluation of your cable bill. Many people have optional premium channel packages added to their basic cable charges. Evaluate each premium channel package on it’s own merits. How much do you pay for each one? How often do you view the channels included in that optional package? If you don’t use – LOSE IT! If you pay $16.99 extra a month for a premium package that includes 4 channels and you only view 1 of those channels twice a month- drop it. You can now rent movies at Redbox for $1.50 a day. Hulu and other online services provide access to shows, series and movies at no charge. Why pay for it if you don’t have to?

As I’ve been trying to tell you- adjustments can always be made. Evaluate your spending and make the necessary adjustments. The money saved over time can buy a used car, be invested, or spent on that fabulous pair of shoes you’ve been wanting and couldn’t afford. There is always room for improvement.

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Series: Money CAN Buy Happiness! Episode 1

In this day and age, our world unfortunately revolves around money. The making, getting, and spending of money is how our economy works. Whether you are a wife managing joint finances, a single mother trying to stretch every dollar, or a single woman trying to make ends meet-it is hard to save money. Saving money in these difficult financial times seems impossible. But I have learned some very effective ways to save money. And I want to share my knowledge with you. This post is one of several in a planned series to educate you on very effective ways to save money and plan for your future.

One of the most beneficial ways of saving money is by evaluating your expenses and making adjustments  to your spending. Always look for the best deal for the money and be open to change. Do the research. It may take a little time from your schedule, but the benefits much outweigh the costs.

For example, let’s say you have had the same cellular provider for years. You pay $110 a month for cell phone service. Evaluate that expense. What kind of services do you get for that $110? Do you use all the services that you pay for? Does your provider allow you to change your plan or you eliminate services that you don’t use? Could you get the same or better services with another company for less money? Let’s say your plan gives you unlimited talk, text and data. But you only talk about a 1000 minutes a month, rarely text and never use the data. Contact your provider and change your plan to fit what you use. The savings can be tremendous. If you are locked into a contract-no biggie. Many providers will buy out your existing contract to get your business. And the up front costs of a new phone are offset by your monthly savings. Is your contract almost up? Look into prepaid no contract plans. Most cellular providers now offer prepaid plans that give you much more bang for the buck. Also, don’t be so set to purchase a phone that does everything. If you don’t use all the features, what’s the point?

Another important area in which you can evaluate and adjust spending is for your clothing. Do you spend $100 a month on new clothes? Guess what? You can get the same quality and brands of clothing at thrift stores and consignment shops for 50-75% less than retail. New doesn’t mean better. It just means you paid too much. It’s not like that blazer you bought comes with a 5 year/500 wears warranty.

My point is this- there is always room for improvement when it comes to your spending. Take the time to evaluate your spending habits. Do you really want your resistance to change to be the reason why you can’t afford a repair on your car or why you can’t retire comfortably ? The old adage is true – A penny saved is a penny earned. Every penny does count. How well are you counting yours?

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