Banking

The Pros & Cons of Preauthorized Payments

For the most part, setting up preauthorized payments for your bills is a good idea.  It’s convenient, and it ensures that your bills will be paid on time.  When life gets busy you don’t have to worry about remembering to pay your bills. 

However, there is another side to preauthorized payments that you need to consider.  If you are on a tight budget  – living from paycheck to paycheck, you may not find preauthorized payments helpful.  Why?  Because if you suddenly realize you cannot afford to have the payment deduct from your bank account, you will have to go through the hassle of contacting your payee and they often need at least 2 weeks notice in order to cancel a payment.  You can often place a stop payment on the item through your financial institution but it will cost you.  So, if you really don’t know from month to month if you will have enough to pay your bills, I wouldn’t recommend setting up preauthorized payments.

Preauthorized payments are good for people who know they’ll have enough to pay their bills, and who don’t want to be bothered with having to pay them manually each month.   They are also a great way to tuck away money for retirement.  Set up a preauthorized payment into your retirement savings account on pay day and you won’t miss the funds. 

If you do use preauthorized payments, be sure to use an account that always carries enough funds so that you don’t ever get caught off guard.  You don’t want to be stuck paying hefty NSF (nonsufficient fund fees) to your financial institution.

July 9, 2009
Shopping

How To Save Money at the Drugstore

1.  Buy the generic brands instead of the brand names.  They work just as well and cost a lot less.ways to save money at the pharmacy  A pharmacist at our nearby drugstore is a really great guy and he swears by the generic brands.  He said they contain the same ingredients so there’s no reason to buy the more expensive brand name products.

2.  When purchasing prescription medications, if you know you will need more than one month’s worth of the product, fill 3 months at a time and pay a single dispensing fee rather than paying an individual dispensing fee for every month. It will save you money, and you will also save time because you won’t have to visit the pharmacy as often.

3.  Watch for sales.  I have noticed flipping through flyers that vitamins and painkillers frequently go on sale.  Unless you have completely run out, wait to purchase these items until you can get them at the lowest price.

4.   Check the expiration dates on the medicines you purchase. You don’t want to end up paying an arm and a leg for a product and then discover that you will have to throw it out if you don’t use it within a month.

5.  Be an informed shopper.  Make sure you know what you are buying and don’t get conned by clever advertising.  Not all medicines are necessary or even effective, so be sure to do your homework.  Feel free to ask a pharmacist, as they will be familiar with all of the products.

6. Civilized Health suggests checking online for better deals on your over-the-counter and prescription medications.  There are a number of fully regulated online pharmacies who offer deals and discounts on certain items.

July 7, 2009
Health & Beauty

Lose Weight For Free – 9 Easy Ways to Burn Some Calories

Here are some easy ways to burn calories with minimal effort and with little or no cost.

1.  Eat hot peppers to speed up your metabolism.  Studies show that spicy foods can increase your metabolism temporarily, increasing the rate at which you burn calories.

2.  Take the stairs rather than using elevators.  Climbing the stairs 4 minutes each day can lead to a 4 lb. (1.8kg) weight loss in a year.

3.  Drink ice water.  Drinking cold water helps you to burn calories because your body has to work harder to warm the water and absorb it.  Also, keeping yourself hydrated throughout the day is important.  If you get dehydrated your metabolism will slow down in an attempt to find moisture within your body.

4.  Stand instead of sitting when appropriate.  Standing burns more calories than sitting.  If you are waiting for an appointment, or at an airport, get into the habit of standing for a while rather than just sitting during your wait.

5.  Take a dietary supplement like Energy Renew to increase your energy level, which will then allow you to be more active.

6.  When you go to work, purposely park your car as far away from the entrance as possible, so you can get some fresh air and exercise on your way in and out the door.

7.   Get into the habit of frequently moving your legs and feet to burn extra calories.  Squeezing a rubber ball periodically throughout the day also helps.

8.  Get rid of your remote control.  If you are watching TV, every time you want to change the channel, make yourself get up and change it.

9.  Keep your home’s temperature cool.  Your body will burn more calories keeping your body warm.

July 5, 2009
Money Saving Tips

Make Your Own Wine

save money by making your own wineIf you enjoy having a glass of wine now and then but you really don’t like spending the money on it, consider making your own wine.  My husband and I just made our very first batch recently and although it is somewhat time consuming; it’s also kind of fun. It will probably take us less time the next time we try it because we will know what we are doing.  The first time we had quite the adventure filtering our wine, but nonetheless we learned how to do it so the next time should be much easier.

We purchased a wine kit and with all of the supplies we spent about $190.00.  We ended up with 31 750ml bottles – so that works out to approximately $6.10 per bottle.  When we make our second batch, if we end up with the same number of bottles, they will only cost $2.25 each because the only thing we will need to purchase is the wine mix.  Not bad! 

So, if you are up for the challenge of trying something new, and you enjoy drinking wine, you might want to consider making some, too.

The kind we made – Australian Cabernet Shiraz – took us one month to make by going through 4 stages.  The last stage took the longest because we had to filter the wine and then bottle it and cork it.  The other 3 stages were quite simple and didn’t take very much time at all. Winemaking is fun and if you like drinking wine, this is definitely a cheaper option than buying it from the store where you will pay at least $10 per bottle plus tax.  Wine makes a great gift, too, so you can share the fruits of your labor with others!

Happy winemaking!

July 3, 2009
Household

11 Ways To Save Money In the Kitchen

There are many ways you can save money in your kitchen.  Here is a list of just a few of themways to save money in the kitchen to get you started:

1.  Clean out your refrigerator and freezer regularly so you know what’s in there.  You will be less likely to waste food and you will know what you truly need to buy the next time you grocery shop.

2.  Use a slow cooker instead of your oven whenever possible.  They use less energy and won’t heat up your home in the summer.

3.  When using your oven, instead of opening the oven door to check on your baking, use the oven light so you don’t waste extra energy.

4.  When cooking soups, etc. on the stove, use lids to preserve the heat.  Your food will cook faster and less heat will have a chance to escape.

5.  A simple way to save money and help the environment is to get into the habit of using small plastic or glass containers to store your leftovers and for bringing your lunch to work instead of using sandwich bags and excessive plastic wrap.  If you do prefer to use plastic bags, reuse them whenever possible by rinsing them and then letting them dry.  Sticking them to your kitchen cupboard is a great way for them to air out.  Although sandwich bags are not that expensive, if you consider how many you go through in a month, as well as consider the amount of waste you are producing, the environmental and financial cost can add up quickly.  Small plastic containers can be purchased inexpensively at most dollar stores and you can buy them bulk and pay even less.

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July 1, 2009