photo credit: dcJohnSaving money on school supplies is a must for many families, but easy for very few. Don’t despair, though, savings are much easier than you think; just follow these easy tips for back-to-school supplies savings:

• Start at home: Dig through your closets and supply drawers for reusable and nearly-new items. Company logos are easily covered-up with fancy stickers, and backpacks can easily be used year after year.
• Patronize your neighborhood dollar store: You may not shop here often, but now is certainly the time to do so: many of your kid’s basic school supplies can be found at rock-bottom prices.
• Set a budget for back-to-school clothes: It’s not likely that your kids have grown out of every, single shirt, short and pant, despite their claims. Lay the ground rules for the clothing trip before stepping out of the house, and stick to it. Buy as many neutral pieces as possible to maximize wear and use.
• Easy on the tech: It’s always tempting to buy the latest computer or calculator, but think before you leap. If you really need such an item, you’ll get amazing deals on eBay, Craigslist, and even in your local classifieds.
• Practice prudent backpack shopping: Kids shouldn’t carry more than 20% of their weight, so if your child has the tendency to shove every school book, binder, and supply into his backpack, buy a smaller backpack.

For the complete list, check out MSNBC’s back-to-school savings tips.

photo credit: jessiphotoworld

Over at the No Credit Needed blog, a recent post looked at the writer’s financial priorities for the future. It makes for an interest list and something that a lot of people in debt are probably striving to achieve - and we know that making a list of your goals always helps you to achieve them faster and better. So let’s take a look at the key financial priorities on this list:

• Live within a budget - always have a written budget so you know where you plan to put your money
• Have insurance - always have sufficient coverage of the necessary kinds of insurance (for example, health, dental, life or disability)
• Have an emergency fund - for at least six months’ worth of living expenses
• Fully-fund retirement accounts - that makes the annual tax bill lower and increases the wealth for the retirement days
• Fund self-education accounts - the No Credit Needed blogger has three young children, and has the goal of saving enough for their college tuition
• Live without borrowing money - but with one big advantage - this guy has a house funded by his employer
• Continue to live without credit cards - he uses a debit card instead for situations where a credit card is usually very convenient.

It might be interesting to reconsider your list of financial priorities, too.

photo credit: TheTruthAboutMortgage.com

Being in serious debt thanks to your credit cards is a serious problem - but it’s one that you can get support for. Organizations such as Debtors Anonymous or simply groups that come together to meet in churches or cafes can really help you to feel that you’re not alone with your problem, and inspire you to find solutions to break the debt cycle.

A recent Wall Street Journal article told the personal stories of several people who are now working on their debt problems after joining support groups. For example, they explained the story of a 26-year-old female accountant who had almost no money to her name despite earning $82,000 a year. It turned out that her problem was mostly in spending money on extras and luxury, like expensive clothes, or high-end fruit for her boyfriend to eat!

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photo credit: r-z

When your budget’s tight and inflation’s playing havoc with it, you need to find some clever ways to save a few dollars. Money magazine recently did a special including 18 ways to beat inflation, and some of the highlights of their suggestions were:

• Don’t make unplanned purchases at the supermarket - stick to what’s on your shopping list only - and check the highest and lowest shelves where the cheaper products are often “hidden”
• Save gas by checking your tires are correctly inflated
• Cook more meals at home - avoid takeaway
• Make your home more energy efficient by installing a thermostat that turns the heating off during the night but turns it back on in the morning before you get up
• Replace regular light bulbs with energy-saving fluorescents
• Cancel gym memberships or magazine subscriptions that you don’t really use
• Turn off all appliances at the switch rather than leaving them on stand-by
• Use a credit card (that you pay off in full each month) that gives cash back on gas purchases
• Don’t be afraid to negotiate with a doctor over costs - for example, offer to pay up front in cash for a lower price. 60% of the time, negotiating with a doctor over medical costs works.

photo credit: mhofstrand

If you’re getting into trouble with your home mortgage repayments, you might be interested to know what kind of compromises lenders are prepared to make to find a way to keep your loan viable and avoid selling your house. Apparently, foreclosing on a loan can cost the lending authority around $50,000, so there’s often a real incentive for them to find a way to get the borrower paying back the loan on a regular basis. Plus, with house prices falling in some areas, the lender will be trying even harder to work out a loan rather than foreclose, because they may not fully recoup their money if they sell the property. (more…)

photo credit: Darren Hester

Though it may not be a dinner conversation topic, many Americans need to start preparing for retirement, specifically for the costs of long-term care. Current estimates state that $225,000 is necessary for basic health care, and a new study states that $85,000 will be necessary for long-term healthcare issues, such as home health aides and nursing home stays. (more…)

photo credit: Darren Hester

With food, gas, and other prices on the rise, families across the country, and the world, have taken creative steps to lighten their financial load. It can be a challenge, at times, to reduce the budget while keeping the fun factor high, but many families have made the switch, and their experiences can help us all to be a bit more frugal. (more…)

credit: Janet 59

If you’re trying to save money, stop for a second and add up how much you have spent on dining out in the last month. Most people are shocked when they start adding up restaurant and take-away bills, but eating out is an easy habit to get into - it’s quick, easy and delicious. But it’s also expensive, so if you’re on a budget and want to save some extra cash, you really need to get into the habit of cooking your own meals at least most of the time. (more…)

credit: batega

American families have discovered an almost iron-clad method for debt control and financial well-being: cutting up their credit cards.

Begin by closing all of your credit card accounts. If there are one of two that give you great discounts, keep them, but make a promise to yourself that you will always pay the bill of in full. Then, draw up a budget, and take into account paying off debts, saving for future events, and treating yourself to the occasional vacation or expensive treat. Pay for everything in cash - either with money itself, checks, or your debit card. (more…)

credit: 416style

If you’re swimming in a sea of debt and you can’t see the shore, now is the time to look for help. In fact, the answer is always “now,” because the sooner you take control of debt, the faster you will take control of it. (more…)