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Money Saving Tips

How To Save Money This Christmas

Christmas can be a particularly expensive time for all of us. The cost of presents, food and booze all add up – and before you know it, your wallet/purse is empty.

So how could you save money this Christmas? Here are just a few of the simple (yet effective) ideas you could put in place to save yourself money over the festive period this year.

1. Make your own gifts and decorations

You can, if you feel handy, make your own gifts and decorations. When I say make your own gifts, I don’t mean stick a few pieces of paper together to make a nice poster, I mean make your own jam, for example.

There are so many recipes available for you to try out online. Why not try to make your own Christmas pudding? Or what about your own wine? These will make great gifts for people who are looking to save money too – you never know, you may inspire them to make their own!

As for your own decorations – this is where you can get the paper out! Get creative and take yourself back to your school days. Make a big paper chain and stick it on the wall (or from one corner of the room to the other). Why not make your own tree decorations? You could get your kids to help you – they could make their own decorations and place them round the house.

2. Make your own Christmas cards

This is a thoughtful idea that many people will appreciate more than you think. If you just went out and bought 50 Christmas cards, filled them out and posted them, then that’s nice – but you didn’t really put much thought into it, did you?

However, if you were to take the time to make your own cards (either by hand or on the computer), then people will appreciate it and you will save yourself money!

3. Set yourself a budget

If you really want to save money this Christmas, then set yourself a budget. For example, you could set yourself a budget of £100 to buy everyone’s presents. This may sound impossible but it really isn’t.

There are all sorts of sales on at this time of year – you just need to sit down and search online. Failing that, trawl the high street stores for cheap items.

I found various cheap toys online, and I’m sure you can too. Try sites like eBay and Amazon, they are packed with cheap deals.

October 26, 2009

Money Saving Tips

Buy U.S. Dollars When The Exchange Rate is Favorable

I recently decided to follow the exchange rate between the Canadian and U.S. dollar as we are planning to use some U.S. funds in the near future. As it turns out, it happens to be a great time to buy U.S. dollars since the Canadian dollar is hovering at around 93 cents right now. I have been checking the exchange rate periodically throughout each day and have noticed that it fluctuates frequently. As well, since I began monitoring it on September 3^rd, the Canadian dollar has gone from just over 90 cents to almost 94 cents.

I highly recommend setting up a U.S. dollar account through your financial institution if you haven’t already done so as it makes it much easier to take advantage of favorable exchange rates. I suggest opening an account that allows you to buy and sell U.S. dollars through your online banking so you don’t have to visit your bank every time you want to transfer money to your U.S. account and vice versa.

Some people also make tax-free money by buying some U.S. dollars when the dollar is low and selling when it is high. All you need is some spare money and a lot of patience. You can do this by exchanging other currencies as well.

Rather than buying U.S. funds last minute before you go on a trip, why not check the exchange rates every once in a while and buy the U.S. dollars in advance? You will save a lot of money and it won’t take a lot of your time.

I check the exchange rate right on my online banking so I know exactly how much I would be getting for my Canadian dollars if I choose to complete the transfer. If you don’t have access to online banking, you can also check the exchange rates online. You need to note, however, that just because the site tells you a certain exchange rate, it doesn’t mean your financial institution’s rate will be exactly the same. In other words, most banks and financial institutions charge a service fee or a commission so your exchange rate will be a slightly less than what you see. That’s why I prefer to go directly to the source, my financial institution’s online banking, so I know exactly what to expect. The best part is, if I don’t like the exchange rate at the time I can easily cancel the transaction.

So, if you think you will be needing U.S. funds in the future, rather than waiting until the last minute, and taking whatever exchange rate you can get, consider buying U.S. funds in advance so you can make your money go further.

September 22, 2009

Money Saving Tips

How to Save Real Money When Buying Nearly Anything at Auction

There are a few tricks you need to learn to make the auction process profitable and enjoyable. Ready to start? Let’s go.

1. Before the Auction Starts:

a) Ensure you have sufficient cash or credit availability before you leave home. Bring a pen.

b) Arrive early. Buy a catalog. You can wander around and look at the items for sale more easily at a more leisurely pace. Mark the items that interest you.

c) Mentally, work out what you think you will spend on those items, or write this down on the catalog against the item number.

d) Ensure you find out what the extra fees and charges are that add to the total bid price.

e) Go back to the items you think you will bid on and check them out closely. Look for defects, authenticity and overall condition. Set your bid limit and stick to it. There will be other bargains.

f) Keep your personal belongings safe at all times. Don’t let your handbag, purse or wallet out of your possession at any time.

September 6, 2009

Money Saving Tips

How to Save Real Money When Running the Family Car

Your car will serve you well, and cost effectively, if you take the time to learn a few basic maintenance skills. Ready to start? Let’s go.

There are many areas where you can save real money when running your car. Some of these are:

– Actual running expenses

– Minimizing servicing costs

– Reducing the slide in value as it gets older

Let’s look at each of these areas in turn.

Actual Running Expenses – save on day-to-day running costs

a) Go easy on the throttle and the brake pedals. If you anticipate the traffic and road conditions a little more, you can save fuel and brake pad wear. Don’t be in such a hurry, go easy on the car controls.

b) Keep the tires at the correct pressure. If they look to be wearing unevenly, get them checked. Get a wheel alignment done at least once a year.

c) Shop around for the best fuel deal. Use coupons or dockets always.

d) When it’s time for new tires, shop around. Don’t be afraid to ask “What is your best price?” Compare prices and brands. Get to know the most suitable tire for your type of driving needs. Play off one retailer against another. The same goes for brake pads. Don’t just accept any quote.

August 27, 2009

Money Saving Tips

Pay Less for Your Phone Service

Telephone service can be expensive if you are not actively looking for the best bargains. A lot of people these days don’t even pay for a home line. They just use a cell phone. If you do still like having a line at home, Vonage might be a good option for you.

We’ve been using Vonage for about 3 years and it is quite cheap compared to other phone companies in our area. We pay on average $25 per month and that includes talking to people overseas in addition to local and long distance calling.

In order for Vonage to work you need to have a high speed Internet connection as Vonage uses Voice Over IP technology (VOIP). The quality is good and if you move to another city or even to another country, you can keep your phone number.

The only major downside about using Vonage is that if your Internet goes down, your phone service does too. We are fortunate to live in an area where our Internet seldom gives us issues, but if you are already have Internet connectivity troubles, I certainly wouldn’t recommend signing up for any kind of VOIP service.

There is really no need to be paying high prices for phone service nowadays as there is so much competition. Check out your different options and don’t feel like you have to stay with your current phone service provider. Besides, if you are considering changing phone companies, your existing phone company might offer you a better deal in order to retain your business. There are also some free alternatives out there such as Skype. Skype works great for connecting with friends internationally. The bottom line is just make sure you are not getting ripped off. You want quality service but you don’t want to have to pay an arm and a leg for it.

August 23, 2009

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