Savings Week- 10 Tips to Save and Cut Expenses

This year's America Saves Week is February 21-28. Yesterday's newspaper (both the Des News and the SL Trib) had this great list of ways to help cut expenses. I can stand behind every one of them. For more info on money savings classes, workshops and tips visit www.utahsaves.org.

1. Make it automatic. Before you see your paycheck, make sure a portion is diverted to your 401K or other savings account.
2. Keep minimum funds in your checking account. Make your money work for you by funneling extra funds into your savings account where it will earn more interest than in a checking account.
3. Don't pay banking fees! If your bank doesn't offer free bill pay, automatic deposits, free checking, free reimbursement of ATM fees, find one that does.
4. Use rewards credit cards. Get cash back on every purchase and pay the card off every month so you don't pay interest fees. Credit cards can offer big perks, (Mine doubles the warranty on electronics purchases and adds an extra year to the warranty of many purchases like tires.) but only if you can afford to pay the balance each month. Be sure to make sure that these are also free of fees.
5. Actively search out deals. It never hurts to try and find a better deal, or request a better deal from your service providers.
6. Use a programmable thermostat. This can cut your heating and cooling costs by 10-20%.
7. Plan and research major purchases. Avoiding impulse buys can save you thousands.
8. Use coupons and rebates. Use coupons for oil changes, groceries, books, on-line purchases and anything else you can find. Look on the back of store and grocery receipts; there's often a coupon there.
9. Cook at home and eat leftovers. You can save a minimum of $20 per week by bringing lunch to work.
10. Bundle cable, phone and internet services. You can save money by purchasing them together.