Texas Money Matters – Savings and Income

It is no surprise that the cost of a college education has reached astronomical proportions. If you are the parent of a high school student today, your pocketbook may ache at the thought of writing out such large checks to a college in a year or two. The fact is that there are actually a few things you may be able to do know that can help make paying for college more affordable.

First, take a closer look at your local community college today. Many people are aware that community colleges offer many of the courses required during the first year or two of college programs, and credit for these courses can be transferred to a larger university. You may not be aware, however, that many community colleges today allow high school students with the opportunity to take courses during their last year or two of high school. These can be taken during a student’s downtime in the summer, during winter break, or even during the evenings. Some high schools will allow these courses to be counted for high school credit as well, which can kill two birds with one stone. Further, some community colleges allow high school students to take one or two classes per semester for free.

You will also want to consider other ways your child can start earning college credit before high school graduation, too. Advanced Placement classes are a popular option to consider, and many high schools these courses in areas of study such as English, Biology, Physics, and more. At the end of the school year, your student will need to take a test to determine how many hours of college credit have been earned by the student. Another way to test for credit is through the use of CLEP exams. These are available in dozens of areas of study, and the cost for the tests is nominal.

By encouraging your student to earn college credit through these methods, your child can earn credit at a much lower cost per hour than most universities offer. You may also find that your child can take fewer hours during those first few years of college while staying on track for a four year graduation plan, and this can help you to decrease the cost of education further. You should, however, ensure that the university your child will be transferring credit to will accept the credit before your child takes the tests or courses.

You can also make college more affordable by getting student insurance discounts at participating companies. Usually these discounts require a certain GPA to qualify. To find out more contact someone at the company you prefer for getting car insurance quotes and ask them about details.

3 Ways to Save on Energy Costs

The monthly power bill is a source of dread for many homeowners. It is one of those expenses that is impossible to avoid. The house must be heated and cooled. Clothes must be washed. The lights must stay on. You could invest in some candles and an old ringer-style washtub, but that is not very practical. Fortunately, technology allows conscientious homeowners the ability to reduce their monthly power bills significantly without sacrificing their creature comforts. The three most easily accessible ways for the average homeowner to reduce their total energy costs are energy efficient appliances, programmable thermostats and energy efficient light bulbs.

Energy Efficient Appliances

There is a variety of energy efficient appliances for the home. There are energy efficient, low-flow dishwashers and efficient ovens, but the two largest contributors to the monthly energy bill are the refrigerator and the hot water heater. The refrigerator and the hot water heater are two appliances that run constantly. The refrigerator accounts for 18 percent of a households total power consumption, and the hot water heater accounts for 15 percent. Just these two appliances account for 33 percent of your total power bill. By replacing them with more energy efficient models, you can see an immediate reduction in your expenses.

Programmable Thermostats

No one likes to come home to cold or sweltering house, but do you really need to heat or cool your house if you are not there? Programmable thermostats give you the ability to preset when your climate control system is active and at what temperature it is working to reach. This can mean significant savings each month. By reducing the amount of time your climate control system is active, you save a significant amount each month.

Energy Efficient Light Bulbs

Traditional incandescent light bulbs are not very efficient, and they are a fire hazard. On the other hand, energy efficient light bulbs such as those rated as Energy Star Light bulbs are remarkably efficient. Each energy efficient light bulb placed in the home can save as much a six Dollars per month. They last longer and do not reach near the temperature of an incandescent bulb. Over the life of an energy efficient light bulb, it is projected that each bulb will save a homeowner forty Dollars. Now, multiply that by every light bulb in your home.

As you can see, there are plenty of easy and quick ways to save money on your monthly power bill, but those mentioned here are just a few of many. There are many more ways to reduce your overall monthly energy expenses.

Who says healthy food has to cost a fortune? If you are willing to make the effort and cook whole foods for your family, you might be surprised by how much money you can save. Try these tips for serious savings on your grocery bills.

1. Forget coupons.

Most coupons out there are for packaged junk that adds up fast on your grocery bill, even with the coupons. While “extreme couponing” is a current trend, ask yourself if you really need case after case of canned pasta. You’ll do better for your pocketbook and your health by choosing whole, fresh foods. Plus, you can use the time you save clipping and organizing coupons to plan healthy meals for your family.

2. Check your store flyer.

Before you go shopping, check the store flyer to find good deals on fresh meats and vegetables. Most stores offer their best deals on the first and last pages of their flyers, often referred to as the “loss leaders.” Don’t worry about the inside of the flyer. Most of the stuff on the inside is just packaged foods and deals that aren’t that great.

3. Plan your meals.

Once you know what’s on sale, plan out your meals for the week. Choose meals that use the foods that are on sale and feature whole ingredients, with an emphasis on fresh or frozen vegetables and meats as accents. Some great choices are stir-fry, chili, salads, soups and fajitas. If you can find a great deal on whole-grain pasta, this can also be a delicious and frugal dinner choice.

4. Plan for leftovers.

Need to pack a lunch for work? Don’t waste your money on frozen meals that are loaded with sodium, fat and preservatives. Plan ahead and save part of your dinner before you even serve it. Pack up a serving in a plastic baggie or container and stash it in the fridge for tomorrow’s lunch. You’ll have a healthier lunch and eat less at dinner, which is great news if you are looking to lose weight.

5. Eat before you shop.

Never go shopping when you are hungry. You will be tempted by every expensive package of junk food on the shelves. If you can, go shopping without the kids. Kids like to beg for treats, and parents like to buy them to keep the kids quiet. Stick to your list, and you will be impressed by shopping and saving skills.

Whether you are buried in a mound of debt and trying to dig out or are just trying to be mindful of your resources, saving money is a growing trend. Shows such as “Extreme Couponing” have popularized the use of coupons for grocery shopping as well as online shopping. However, many have been turned off by the “extreme” methods used on the show. Couponing in moderation can be a great way to save money at the grocery store as well as put money back in your pocket.

Any money saved with coupons is money back in your pocket. The following tips can help you get started with couponing and help you cut your grocery bill in half.

1) Purchase the Sunday paper and cut out coupons you think you may use or for items that you and your family already purchase.
2) Collect the weekly ads for the grocery store, drug stores, and mega-stores, such as Target and Walmart.
3) If you’re just beginning, create your grocery list and match coupons with these items. Compare to the store ads to find the best buy.

Organizing Your Coupons
* Envelopes – If you are just beginning or are looking to just maintain a small stash of coupons, envelopes can work well. Label the envelopes with some basic categories to help you find the coupon you need for your shopping trip.
* Small Accordion File – With this small filing system, you can easily organize your coupons in up to 12 or 15 categories.
* Binder – While the method may seem extreme, using a binder with baseball card holders can be an easy and efficient way to manage your coupons.

The most important thing to remember in organizing your coupons is to choose the method that works best for you.

As you increase your proficiency with coupons, you can add various elements to save even more money. You can begin tracking a number of websites with current deals highlighted as well as purchase multiple papers to gather more coupons for a particular product. There are also several websites with printable coupons.

As you begin the journey of using coupons to save money, remember, ever dollar you use in a coupon is a dollar back in your wallet.

Are you a bargain hunter? In today’s economy, it’s kind of hard not to be. But even seasoned bargain hunters are finding it harder and harder to land a great deal on the stuff they want. So, if you like to shop, but find it tough to part with your hard earned cash, here is the perfect solution: Swap it! That’s right, swap the stuff you already have and don’t want any more for the stuff that you do. This strategy isn’t limited to clothes and used video games, either. You can use this strategy to get just about anything you want-including a new house or car-if you know where to look!

• Got a leased car that you can’t stand? Swap it for a better one! Instead of buying your last car, you leased it. Now, one year later, you need a different car and don’t know how to get out of your lease without paying a fortune. Don’t break your lease-swap it with someone else. At SwapaLease.com, you can switch cars with someone who is in the same situation. Of course this service isn’t free, but membership dues range between $40 and $300, which is probably less than your next lease payment.
• Need new toys for the kids? Let them go shopping! At ToystoTrade.com, you can swap out your kids’ old toys for used new ones for practically free (you have to pay for shipping.) The neat thing about this site is that they color-code their toys by value which makes finding the perfect swap a no-brainer.
• Got an unwanted gift card wasting away in your wallet? Swap it for one you can use! How many times have you gotten a gift card from a well-meaning friend or family member that winds up getting shoved to the back of your wallet or junk drawer? Instead of wasting the card, swap it for one that you can use. SwapaGift.com, GiftcardRescue.com and PlasticJungle.com will accept your unwanted gift cards and swap them for ones you can really use. If you don’t want the hassle of a gift card at all, you can sell your cards for cash as well.
• Already read your book collection twice over? Swap them for new ones! Sites such as BookMooch.com and PaperbackSwap.com let you trade in the books you’ve just finished for books you’ve been dying to read, completely free of charge, except for shipping. This is an even better deal than used book stores!
• Having trouble selling your house? Try swapping with someone else instead! Yes, this one even shocked me. Selling your house in today’s housing market can take forever, if you are successful at all. So, instead putting your house on the market only to find that you are still in it three years later, swap it for another one of equal value in another city or with more desirable features at sites such as DomuSwap.com, Pad4Pad.com or OnlineHouseTrading.com.
• Want to take the hotel out of the vacation equation? Make a temporary swap for a vacation home! Your hotel stay can make or break your vacation experience. So, instead of taking a gamble on a tiny hotel room, swap your home (temporarily) for a vacation home. This tactic works for both domestic and international vacations. Visit RoofSwap.com, HomeExchange.com or HomeforSwap.com for more information.

Even though all of the suggestions above reference online swap sites, you don’t have to be an Internet guru to take advantage of swapping. Instead of hitting the Net, throw a swap party. Invite your friends and encourage them to invite their friends and set an “admission fee” of at least one item to swap. Your guests will have a great time meeting new people and “shopping” and you still get to swap your stuff for free.

As outdoor temperatures drop, you might find yourself turning up the thermostat to keep warm. While adjusting the temperature increases the comfort level in your home, this can cause your heating bill to rise. Replacing your existing doors and windows can quickly solve your energy problems and help lower your heating bills. But if you can’t invest in new doors and windows at this time, consider other alternatives for saving money on your home’s heating bills.

1. Seal cracks to block cold air. Small cracks or breaks along your window frames and doors can cause cold air to leak into your house. Going to the home improvement store and buying a tube of caulk can quickly fix this dilemma and help lower your energy bills. Closely examine your walls and apply a layer of sealant to cracks. Feel around doors and windows to check for cold drafts. Place a rolled towel or draft guard near the bottom of your doors and windows to stop air flow and warm your house.

2. Program your thermostat. Switching out your existing thermostat is a quick and inexpensive way to maintain warmth inside your house and lower your energy bill. The concept involves programming the heater to shut off during the daytime hours when nobody is home. Set the heat to turn back on about an hour before everyone returns. You can enter a nice, toasty home without wasting energy during the day.

3. Use style to block a cold draft. If a drafty window keeps your heating bills high, remove your existing curtains and hang a thermal curtain. These thick drapes are designed to block cold air that leaks in from the windows. Keeping the drapes closed creates a barrier that prevents cold air from entering the house and warm air from leaving the house.

4. Add warmth with space heaters. If you’re spending a lot of money to keep your house warm, throw in the towel and use space heaters in certain areas of your house. Homes with open floor plans are hard to keep warm and attempting to warm every square inch of your space is expensive. Purchase a few space heaters and toss them in the bedrooms and perhaps the family room.

One of the largest expenses for a family is the grocery bill. You can save money by clipping coupons but there are other ways to save even more at the grocery store. The first thing to do is figure out how much money you’ve been spending at the grocery store for the past few months. You can look at your bank statement online or get out your paper bank statements. Add all the money that you spent at the grocery store and you will be surprised at the total and how many times you went shopping.

Determine how much money you want to spend at the grocery store in the future. Plan your meals for two weeks and list the items you will need and tell yourself you will stick to the list. Take cash with you and leave your credit cards, debit cards and checkbook at home. Just staying out of the grocery store for two weeks alone will save you money. Bread can be purchased and stored in the freezer. Milk can be purchased dry and it is easy to buy enough for two weeks. The key is to stay out of the store for two weeks. Grocery shopping every four weeks is ideal, but you can start with two and work your way up to four weeks.

It is a good idea to go grocery shopping alone and it is another way to save money. If the children are constantly distracting you, it will be easy to pick up items you don’t need just to finish your grocery shopping as fast as possible. Anytime items are purchased that isn’t on your shopping list, you are spending more money than necessary. Another good idea is taking other grocery store sales fliers with you to a grocery store that offers a price match. The store promises to match any store’s prices. Grocery stores have items on sale called leaders. You can get great discounts on other grocery store’s leader items and save a lot of money.

Grocery stores entice you to buy items that are on cap ends. This idea was created by marketing companies to get you to buy specific items. If you need that item then buy it but don’t be distracted by items on cap ends. They are attractive but remember not to buy anything that isn’t on your list. These ideas will save you money.

Saving money is hard for everyone. If you’re like most people, one of the hardest areas for you to cut back is the grocery budget. Food is a necessity, after all, and the cost of groceries is going up nationwide. Your bill doesn’t have to keep going up with it. You just need to know how to slash your grocery budget.

Buy Unrefined Foods
Ditch the pricey frozen entrees and meals-in-a-box. They will eat a hole in your budget faster than just about anything else, aside from junk food. Instead, buy the ingredients you need to make your meals from scratch. You will save money and be healthier to boot.

Cut Out the Junk
Speaking of junk food, it is bad for both your health and your budget. Stop buying the chips, candy, soda and other sugary treats.

Take Advantage of Opportunity Buys
Let’s say you love a certain kind of canned tuna. Normally, you buy two cans every payday for $0.75 each. But one day you go to the store and the cans are on sale for $.50 each. This is known as an opportunity buy. Instead of only buying your normal two cans, you buy four, or six, or eight or however many cans your budget will allow. Yes, you only save a quarter per can, but if you do that continuously with various foods you could save hundreds of dollars per year.

Buy in Bulk
A five pound bag of flour costs about three dollars in most parts of the country, while a fifty pound bag often costs less than ten dollars. This is an extreme example, but it can be applied to most commonly bought food items.

Buy from the Discount Bin
Most grocers mark perishable products down significantly a few days before their Sell-By Date. These products will still be good for up to two weeks past that date, but the grocers can’t legally sell them. You may pay as little as ten cents on the dollar.

Preserve Excess Food
If you have too much of something to use before it spoils, consider preserving the excess for later use. This can be as simple as freezing leftovers or as complicated as making jam. You can even turn this into a strategy to save money and time. Simply make too much for dinner one night and then preserve the excess for a quick dinner or lunch later on.