Tips for Saving Money

I previously posted an article Five sites that will save you money.

These sites (especially Money Saving Mom) Do more than provide tips and coupons they inspire and empower you to get what you need at the best price.

The other day at our local supermarket I was able to buy food for the entire week for $61 the original price before coupons and card was over $81.

If your thinking I purchased a bunch of no-frills products and spent hours cutting coupons think again.

Before going to the store I jotted down what I needed, then I reviewed the stores weekly circular and went through the coupon section of the Sunday paper.

All of this took about 10 minutes.
Ten Minutes to Save over twenty dollars (not a bad trade-off)

Next Steps:

Were you recently able to get some great deals and save some money please share your experience with us.

Please checkout our list of Money Saving websites and If you have a website that you want to share please add it in our comments section

Thank You

5 Coupon Sites that will save you money

Everybody loves to save money, there is something satisfying about getting something for less or free.

In a previous Blog Article 10 Ways to save Money #8 was to use Coupons. To help with that effort I have included some online Coupon Sites. These sites are simple to use, require little or no disclosure of personal information, and will save you $$$.


1. http://www.couponcabin.com/index.htm Coupons for places you shop everyday. Find coupons on this site either with their search utility or the convenient most used and favorite coupon categories.

2. Yahoo Coupon Center This site is in beta but pretty straight forward with groupings by category or Merchant

3. Cheap Uncle Not Just a coupon site but a price comparison site as well. The site uses prices from both Yahoo shopping and Coupon Cabin. Cheap Uncle Searches over 3,000 coupons and Deals.

4. Fat Wallet This site requires registration (email) but credits your account with money back from merchants Amounts range from 1% of purchases Below are some samples.

Merchant Cash Back
Apple Store 1.0% *
Buy.com 1.0% *
Circuit City 2.0% *
HP Home Store 5.0% *

5. Coupon Mountain The 1st site of this type that I ever heard of. It has a nice search utility to help find what you need and a handy sidebar with quick links for Stores, Top Discounts, Coupon Categories, and additional Resources.



No Coupon site list would be complete without mentioning moneysavingmom.com not only will you find good deals and coupons but you will be inspired by sites content and readers who are extremely passionate about saving money and sharing how they have done it

If you have any coupons or sites that you would like to share please drop us a comment.

10 Ways to save Money

10. Read websites that have timely tips and coupons for saving money like http://www.moneysavingmom.com/

9. Shop for food after planning a menu. You should not go into a store without a strong idea of what you will be buying while in there. (Never go into the grocery when you are hungry) Make a plan of what you’ll buy before you go, then stick to it. Don’t put anything in the cart that’s not on the list, no matter how tempting, and you’ll come out of the store saving a bundle.

8. Cut-Coupons and use circulars. You will save a lot by implementing tips 9 and 8.
I have seen our weekly grocery bill cut almost in half.

7. Drive conservatively - Change your driving style by driving a little slower and avoiding rabbit starts. You will see a marked improvement in fuel consumption. In doing this and some coasting on the declines I have been able to stretch a tank a gas to last the week where I used to have to fill up almost 2 times in a week

6. Commute to work by Bike, carpool, or work from home 1 day a week. Save gas, do something good for the environment and yourself either Physically or socially. Google maps now has an option for Directions to set to walk this should provide a bike friendly route to your destination.

5. Cutout Extras or make them a special treat and not a daily indulgence. A specialty coffee can cost close to $5.00 that can quickly add up.

4. Brown bag your lunch - Pack you lunch and you will save money especially if you pack leftovers, not to mention you will probably eat healthier since you will have more control over what is available.

3. Get your books,DVD's, and CD's from the library. Free is better Our local Library has a great selection and the trip has become one of our weekly outings that we look forward to.

2. Take advantage of employer 401(k) matches. If your employer matches 401(k) contributions, do everything you can to take full advantage of that match. Use flexible spending accounts. FSAs allow you to pay certain medical, dental and child care expenses using pre-tax dollars. If your not taking advantage of these accounts, you’re wasting money.

1. Donate to charity - Either Time or Money (Not necessarily a money saving tip) It is always good to recognize that somewhere, somebody is not as well off as you are. Perspective is everything and many charitable donations are tax deductible. So Donate it is good for the world around you and your Karma.

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More tips:

http://www.thesimpledollar.com/2008/02/06/little-steps-100-great-tips-for-saving-money-for-those-just-getting-started/

http://www.doughroller.net/2007/11/06/51-painless-money-saving-tips/

http://zenhabits.net/2007/08/106-money-saving-tips-for-a-frugal-lifestyle/

Flexible Spending and Child Tax Credit

Its tax time and a good time to review your plan for the upcoming year. Flexible Spending Accounts are something you should take advantage of if your benefits program offers it.


There are 2 common FSA one for medical expenses and one for dependent care expenses both have money taken out of your pre-tax dollars (So there is a benefit of not being taxed on earnings that are allocated to these expected expenses) Some companies also offer some money (usually around 250.00) If you participate in these programs. FSA for medical expenses can be used for Deductibles, Over the Counter Medications, Prescribed medications etc.

Currently, the IRS allows you to contribute up to $5,000 per year ($2,500 per year if married and filing separately) to a Dependent Care FSA for work-related dependent care expenses. Estimate what your daycare expenses will be for the year, and allocate enough from your pay to cover them. (Aetna has a FSA Savings calculator that can be useful)
The IRS does not limit contributions to a Health Care FSA, but many employers limit contributions to between $2,500 and $5,000. Your enrollment materials will specify a maximum annual amount you can set aside in your account.Consider last year's health-related expenses, including medical, dental, vision or pharmacy costs you foresee that might not be covered under your health plan. Also consider any changes in your family status that might have an impact on these expenses.
If you elect to take advantage of a Dependent Care FSA, you must complete IRS Form 2441 when filing your income taxes for the year. Your employer will report all dependent care contributions in Section 10 of your W-2 Form(s).
Dependent care FSA can be used to cover costs of Daycare and After School care and other programs. A more complete list can be found by clicking here HERE.
One of the downsides to FSA's are that they are a use it or loose it benefit meaning if you fund the dependent care FSA but do not file a claim in the required time frame you will loose the money you have allocated.
You pay your caregiver directly and get a receipt. Complete a Dependent Care Reimbursement Claim form and attach the receipt or have the caregiver sign the form. Send it in as instructed on your insurance companies form, and they will send you a check (or direct deposit) for your eligible expenses.
Under IRS regulations, you can only be reimbursed for incurred expenses. For example, you can submit January's dependent care expenses in February for reimbursement.
Some Medical Insurance companies will automatically reimburse you for qualified out of pocket expenses up to your FSA plan maximum.
There are some forms that need to be filed with your Tax filing around FSA so it is a good idea to have received your benefits prior to filing to keep things neat and in the same filing year. You can find answers to some Frequently asked Questions at Here.
Wikepedia on FSA

Note: This is just an account of some of my experiences any information contained here should not be taken as fact you should consult a tax professional before making any decision.