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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.

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