Happy New Year!  As 2011 rolls out I, like many people will be setting some New Year's Resolutions which will include among other things, how I handle my finances.  One thing I've committed myself to doing is paying myself first, instead of last.  It's always easiest to to set a little money aside while you still have some, instead of "just seeing" if there is money left at the end of the month to put in savings. 

PMF - Pay Myself First will be my motto for the year.  I have done this off and on but I'm determined to use a little more self-discipline in my spending and savings habits.  To do this I I'm going to start with just one simple habit:

   - put all loose coins and bills in a jar at the end of the day.  This jar as of today is sacred and will not be   broken into except in the case of dire extremeties.  By saving a little as I go I'm hoping to erase the need to use my credit card if I get in a pinch.  In my case using cash is always better than using plastic.

So here's a challenge and a request.  Get a piggy bank, jar or bottle and start plinking in your loose change at the end of each day.  At the end of the month decide what you'll do with it.  You could use it to pay down a credit card, simply let it continue accumulating, stick it in a savings account or something entirely different.

I'm interested in two things from my readers.  First, let me know at the end of January how much you've been able to stash away using this idea, and what you'll be doing with that stash.  I personally will just let it accumulate so I have a little cash on hand for emergencies.  What we don't want is for your piggy bank to look like this at the end of the month:

   -

Debi's Daily Dollar Idea: Crock it

I'm all about saving money.  And if I can save some time in the process all the better.  Making use of your crock pot will do both.  Especially in the summer when heating up your oven to cook a few baked potatoes also means your air conditioner needs to work even harder to keep the room cool. 

In my "investigations" about crock pot versus an electric oven I've discovered that an average crock pot uses about 200 watts of electricity an hour, while an oven heated to 350 degrees uses about 2,000.  The crock pot uses less electricity, doesn't heat up the kitchen the way the oven will, and you can fill it in the morning and forget about it until you're ready for dinner.

There is a plethora of websites devoted to crock pot cookery, including thousands of recipes.  I'll share just one simple idea: use the crock pot to cook baked potatoes.  Simply scrub the potatoes, grease and place in the crock pot.  An average sized pot will hold 10-12.  Cook on low for 8-10 hours, or on high for 4-5.  That's all there is to it!

What is your favorite crock pot recipe?

Debi's Daily Dollar Idea: Call, Call, Call

Some of us have at one time or another forgotten to pay a bill on time, written a check before adding money to the account, or are just paying a high interest rate on a credit card.  Those late fees, overdraft and high interest charges take a bite out of an account balance.  It "pays" to just pick up the phone and call the bank, the credit card company or the business and beg for mercy.  I have had late charges removed, credit card interest rates reduced and bounced check charges reversed simply because I called.  I was told once by a customer service agent that they allow a charge to be reversed once a year.  Now that credit card companies are under more stringent regulations you may not get the interest rate reduced, but it can't hurt to try.  They want your business, and it pays to keep the customers happy.   So next time you incur a late fee pick up the phone and see if they will either reduce or eliminate those charges.  Ask them if there is anything else they can do to reduce your bill.  Always be courteous, remember the adage "you catch more flies with honey than vinegar."  

Debi's Daily Dollar Idea: Rediscover the Public Library

Simple idea, but don't pay for something you can get for free at the public library.  Unless you want to keep a book you're probably only going to use once, why pay for it?  Most libraries let you check out a book for three weeks, and one week for newly released books.  If someone else hasn't placed a hold on the book you can usually renew the book twice.  Plenty of time to finish the book and return it.

I regularly check out videos and DVD's.  However, you can rack up late fees is you're not careful.  At my library videos may be checked out for a week, DVD's for two days.  And as with books, as long as there is not a hold on the item they may be renewed up to twice.  I can place a hold for a particular movie I want to watch and am notified when the movie is available.  No need to run to Blockbuster and pay $4 for a movie when they're free from the library!

Need to check out something from a newspaper?  Head to the library.  My library carries all the major newspapers, as well as our local papers.  They also have every magazine available.

A lesser known resource at the library are conference rooms.  My Toastmasters club met at the library for several years at no cost.  If you are a member of a club or organization that needs a place to meet check out availability at the library.  If there is a fee for a room it will be nominal.

Check out your libary schedule for monthly events such as book clubs, lectures, teen and children's events.  Our library system regularly offers classes on painting, making jewelry, local history, health, exercise, gardening, cooking, and more.  Craft classes are held weekly for children and teens.

Libraries also provide assistance with filling out tax forms, and usually provide the forms.

If you find yourself driving by the library on your way to the book or video store, make a u-turn and keep the green in your pocket.

 

 

I read this info at the blog (link provided at the bottom of this post.)  Since most of us are in the throws of a cold winter, any ideas about staying warm while keeping the electric company out of our pockets is welcomed.  I typically see electric blankets on clearance after Christmas.  So if you can wait a week or two you might get a great deal on something that can save you a lot of money.

 

Electric blankets and pads cost little more than many non-electric comforters, and only use about a nickel's worth of electricity per night to operate. Yet according to the U.S. Department of Energy, for every degree you turn down the heat during the winter, you'll probably save about one to three percent on your total home heating bill.

Read more: http://www.thedailygreen.com/living-green/blogs/save-money/how-to-save-money-at-home-47011401#ixzz18lruEKRB

Deb's Daily Dollar Idea: Skip the soda

Today's money-saving idea is simple: skip the soda.  When you go out to eat at a restaurant, whether sit-down or drive-thru, opt for water instead of a drink.  You may only save a buck or two, but if you're paying for several people it will add up.  Consider also the number of times you buy soda over the course of a year and by choosing water instead of other drinks, the savings really begin to pile up.  Add in the serendipity factor of not ingesting all that refined sugar, caffeine and who else knows what, and the health benefits add up also.  So do yourself, and your wallet a favor.  Drink up, but only H20.

Debi's Daily Dollar Idea: Thrift Stores

Today's Daily Dollar Idea may not be a new one to many, but it's one that has saved me hundreds, if not thousands of dollars through the years.  No matter where you live your town is sure to have one, if not a dozen thrift stores.  Before getting in your car to drive to Wally World, Macy's or Target, consider if you could purchase what you need at a Thrift Store.  Simple idea, but I for one sometimes "forget" to consider finding what I need at a thrift store, thereby paying a fraction of what I would if I purchased an item new.

Most thrift stores have clothing, dishes, appliances, furniture, books, shoes, toys, music and much more.  I love going in the store with a $5 bill in my purse, and then leaving the store with a bag of items and $1 still in my purse!   I couldn't begin to count the items of clothing thrift stores have provided for my children and myself, several pieces still with the original price tag on them (which means they've never been worn!)  One of my favorite finds was a round, glass turntable plate that goes inside a microwave oven.  I accidentally broke mine, so finding it was the highlight of my day!  Paid a buck for it, and it was the perfect size.  I've also purchased 3 different bread machines at various times, each for $5, and each in perfect working condition. 

I've also purchased canning jars, drinking glasses, dishes, bread pans, and a host of other kitchen dishes.  I bought dirt cheap winter coats for my daughters on a trip to Utah.  Why pay $50 for a coat they only need for 3 days?  At $3 each, the coats I bought in a thrift store were like brand-new, and you couldn't tell they'd been previously owned.

So consider shopping at a thrift store next time you head out to buy something you just gotta have.  Then see how little green you have to use to get what you need.