Cost Cutting Tips

• Utilities

• Ask your utility company to perform an energy audit of your home.
• Set the water heater to the lowest acceptable temperature.
• Eliminate premium cable and extra phone services.
• In the winter, turn down the thermostat during the day when you're not home.
• Consider buying a programmable thermostat.
• Get rid of halogen lamps. They use 4 times more energy than lamps with 75-watt bulbs.

• Grocery items

• Avoid costly convenience stores and convenience food items.
• Use coupons if they will result in products that are cheaper than store brands.
• Keep simple foods on hand when you're too tired to cook to avoid eating out.
• Buy store-brand over-the-counter medication and pain relievers.  Compare the ingredients; they usually will be the same.
• Pack your own lunch.  A restaurant lunch can cost four times more than the one you bring from home.

• Entertainment

• Make use of free entertainment at public libraries and local parks.
• Form a dinner club with friends and take turns hosting dinners.
• Wait until movies arrive at cheaper neighborhood theaters or rent videos.
• Go to matinees.

• Insurance

• Discuss increasing your car insurance deductible with your agent.
• Discuss eliminating collision coverage on older cars.
• Shop around for insurance.
• Discuss increasing your homeowner's insurance deductibles with your agent.
• Consider term vs. whole life insurance.

• Gift giving

• Cut back on expensive gifts.  Shop year round at sales to stock up on holiday and birthday gifts.
• Avoid expensive gift wrap.  Buy holiday gift wrap at post-holiday sales.  Re-use gift bags.
• Give gift certificates as gifts.  This way, you won't overspend.
• Consider a grab bag if you're part of a large family.
• Give 'coupons' for gifts.  Make them good for car washes, house cleaning, baking, dinners, etc.