Saving Money on Groceries by Comparing Unit Prices
To make sure you save money at the grocery store, comparing unit costs is a fundamental practice that needs to be adhered to. Whether you are buying brand name products or generic grocery items or whether you are buying in bulk or not, the unit price of the goods being purchased is a key measure to ensure you are saving money.
By comparing and saving based on the unit price you can save money even if you don’t have a coupon for select products. While in many instances, buying the larger size may be better or using a manufacturer’s coupon or store coupon appears like a good deal, this is certainly not the case every time.
When products are sold in different quantities or in different packages of the same size but actually holding different quantities it can be difficult to evaluate the best deal. A coupon can actually make the decision more difficult if the larger quantity is measurably cheaper per unit. Don’t be bamboozled by the creative packaging of food manufacturers and distributors either, just because two products appear to be the same size, does not mean that they are.
The unit price is a measure of the product cost f the item per ounce, quart, gallon, pound, or any other unit of measure. The unit price displays the cost of one unit, such as an ounce of that product. The unit price can be found on the product labels or on the shelf under the package display.
Of course it is best to compare the unit cost of products that are the same but if the products are similar substitutes or generic versus a brand name or even one product after a coupon reduction and one without, the unit cost should still be the primary decision making tool. Unit prices can also be used to compare different types of a food product such as dried and canned foods or fresh foods. Preference will clearly play a big role when comparisons like this are made.
Some brands cost less than others but will change their pricing frequently so check brand prices and coupons weekly because prices may change. Choosing the food that has the lowest price per unit costs will save money. By shopping and comparing the unit prices, you can make your purchase decision for the grocery item that offers the greatest value.
Saving Money and Water with Rain Barrels
Saving money and saving the environment is always a good notion. Conserving water with rain barrels is one of those win-win good notions that will save money as well as the environment.
Rain barrels are a great way to collect and store rain runoff from your roof that would otherwise be lost to runoff and diverted to storm drains, streams, rivers, etc… Water captured in rain barrels is a free source of water for watering gardens and lawns and of course has the added advantage of helping the environment.
The model behind the use of rain barrels is quite simple, the more water we are able to conserve the more money we save from municipal water and sewer charges while helping save the environment by not using treated water for our lawns, gardens or other outside uses.
Utilizing the natural water which is free of chemicals such as fluoride, chlorine and other additives found in our household water saves the environment from the treated water and the treatment process and is also healthier for plants and gardens. By collecting rainwater, you can reduce the load on your local water treatment facilities.
Use of rain barrels utilizes a natural process that reduces the burden on our existing infrastructure. Using rain water will reduce your water bill whether you have a municipal water supply that charges by the gallon used or a well that has a pump needed to draw the water. In addition, a number of municipalities have separate sewer charges that are based on the amount of water consumed. For homeowners that have sump pumps in their basement, the rain barrel has another plus since they are collecting water that would normally seep into the ground next to the foundation.
Rain barrels are generally inexpensive and are practical way to save money. Reducing environmental impact is just an added bonus.
Rain barrels can be purchased from many garden catalogs or you can make your own following directions found on a number of web sites. Rain barrels operate pretty much trouble free.
Whether you construct your own rain barrel or you purchase one, make sure it is securely covered, securely set and accessible for cleaning. Most all rain barrels can sit conveniently under any residential gutter down spout. The rain barrels should be installed at or near ground level, on a level surface to prevent tipping when the barrel is full. Don’t position the rain barrel near stairs or structures that would pose a danger for the area.
Make sure the rain barrel has a screen for water collection and the barrel should be slightly elevated off the ground to allow gravity feed when it is in use. The water should be used or drained regularly to reduce the risk of mosquitoes or contamination.
Rain barrels are becoming very popular in rural and urban areas mostly for environmental reasons but the costs savings these products bring should make them even more widely adopted by those who like cheap home living.
Quick Tips to Save Money on Heating
Saving money on winter heating bills can often be done with very low expenditures or hard work. Management of your existing resources is the biggest factor in reducing the heating expenses. A pleasant side effect is the less energy consumed the less emissions there will be polluting our environment. Save money and do a little to help to stop the damage to the environment caused by burning fossil fuels in your furnace.
1. Replace your old thermostat with a programmable model. Low-cost programmable thermostat models sell for around $25 and can easily pay back their cost within a couple of months. Better yet, they can save you more than $100.00 each year. The simple value of programmable thermostats is the device will automatically change the trigger on the thermostat for the home temperature so the heating and cooling of the house is operating more efficiently at the right time of day. For example, keeping the heat high at night while a family sleeps is clearly an inefficient use of heat and money. The programmable thermostat can be set to automatically drop the temperature at night time and then automatically turn it up at preset time in the morning. The thermostat can be preset to also turn the heat down during the day to let sunshine warm a home or keep the heat off when the family is not home. A programmable thermostat is pretty much a must have device based on costs and savings.
2. The follow up to the programmable thermostat is general rules on setting the temperature in the home. Be sure to set your thermostat as low as possible in the winter while still being comfortable. The closer your indoor temperature is to the outdoor temperatures, the lower your overall heating bill will be. If you still don’t use a programmable thermostat, shame on you, and make sure not to set the thermostat at a warmer setting than normal when you first get up. This will not warm your home any faster and it usually results in excessive heating which costs you money.
3. Check for window air cracks and spaces where the cool air can coem in. Repairing even some leaks can save a fair amount of money. Loss of heat from drafts along windows is a big drain on the heating system. Repairing these cracks and leaks can be performed by caulking along the frame and making sure the window as well as the storm window shut tight and snug.
4. Seal the leaks along door openings as well. Check to see if you feel a breeze at the bottom and sides of your door frames and doorways. Purchasing door blocks and sweeps to help block the flow of cool air will keep your rooms warmer and use less energy.
5. Close the heating vents in rooms that are rarely used. There is no use heating a room that nobody is using. The one issue you need to take care about is determining where your thermostat sensors are located. If they are located in a room that you close off, you may actually make your furnace work harder as it tries to warm a room that you have effectively shut off. Follow up by closing the doors to rooms that are not often used. This will keep the furnace from heating more space than necessary. Keep all your closet doors closed. There is no need to heat your closets during the winter.
6. Use the power of sun for heating and protect against fast cooling. Close the curtains on north facing windows to add an insulating barrier. This will help shield them and make it easier to keep the house warmer. Opening any curtains on the south side of the home along the windows will let in more sunshine. Be sure to close them after the sun has gone down. Using the sun and the warm and cool air outside of your home properly can help maintain room temperature and help avoid unnecessary use of the furnace.
7. Have your furnace checked periodically by a professional to make sure it is operating efficiently. Not only will this save you money now by having it work at top performance, it will also save you money in the long run by extending the life of this equipment. Dirty filters and dirty valves reduce the furnaces efficiency measurably. Maintenance isn’t necessary every year and you can inspect the furnace yourself as well as change the filters by yourself, the filters are cheap and should be changed every two months. Change your furnace filter once a month. Dirty filters reduce airflow, making your furnace work harder and lowering the performance and efficiency of the entire heating system which ultimately costs you more money
Remember, saving on the heating bill can come from very quick and easy patches in the system. Ignoring these drains on heat use may only cost a few to several dollars a month but these numbers add up quick. And saving on heating costs not only helps the family budget but helps reduce emissions and helps the environment. Cuddle up under that blanket at night with a movie at home and save money while you save the environment.
Ten Ways to Avoid Overdraft and Bounced Check Fees
In the past, any check that was written that exceeded your checking account balance would be rejected by your back. ATM transactions and debit card purchases that weren’t backed up by funds would be denied on the spot. Not only would these transactions be denied, the bank would hit you with a huge fee for having insufficient funds in the bank account. A fundamental key to saving money is to reduce unnecessary fees like these.
Now, instead of the old non-sufficient funds fee, many banks are charging overdraft fees when customers exceed their bank balance.
The banks will allow you to write a check, make a debit card purchase or ATM withdrawal even if you do not have enough money in your account to cover the transaction. The bank will then charge you a hefty overdraft fee for the “privilege” of overspending. Overdraft fees can be as high as $35 per transaction and some banks will even charge up to $5 for each day that your account has a negative balance.
Banks make huge profits charging overdraft fees. According to The Center for Responsible Lending, banks rack up $17.5 billion a year in overdraft fees.
Use these tips to avoid paying high overdraft fees:
1. Record all transactions. Make sure that you record each check that you write, including the date. Also record each ATM transaction, and don’t forget to record any fees that may be associated with each withdrawal. Using an out of network ATM can tack on an extra $2-$3 for each transaction. These can add up and cause you to overdraw your account.
2. Use automatic payments. Cut down on the number of checks you write each month by signing up for automatic utility and credit card payments. You can set up automatic payments on specific dates and for specific amounts, but make sure that you record each automatic payment an any associated fees in your check register.
3. Go over your monthly account statement. Check your account statement against your check registry each month. Don’t hesitate to contact your bank if you have questions about your statement. In between statements, online access can help you keep track of your spending and can help you spot problems before they become large headaches.
4. Keep extra money in your account. You can incur substantial fees,even if you overdraw by a few cents. Keep a stash of extra money in your account to provide a cushion for forgotten ATM fees or incorrectly recorded transactions. Pick an amount that you are comfortable with, $50 is a good place to start, and keep it in your account for emergencies.
5. Sign up for online alerts. You can keep a watchful eye on your bank account balance by signing up for email alerts when your balance drops below a preset limit, usually anywhere from $50-$100. When you receive an email alert, make sure that you replenish you account promptly.
6. Stay away from “overdraft protection” programs. You may be enrolled in these pricey programs automatically when you sign up for a checking account. “Overdraft protection” can cost as much as $35 a transaction and many banks and credit unions charge between $2 and $5 for each day that you keep a negative balance. Check your checking account agreement to see if you were signed up for one of these programs without your knowledge. If you find that you have been enrolled in an overdraft protection program, contact your bank to opt out.
7. Link your checking account with your savings account. By linking your checking account to a savings account or credit car account, you can save costly overdraft or non-sufficient funds fees. There may be an annual fee associated with this service and you may be required to pay a small fee for each transaction, but it is still less costly than bouncing a check or depending on the banks overdraft protection service.
8. Avoid using debit cards for gas or to reserve hotels and rental cars. Your debit card can be use just like a credit card, but unlike a credit card, merchants place holds on your money when a debit card is used for gas or for hotel and rental car reservations. The hold can be up to 20% above the final bill and can leave you short of cash for several days, even if no money is withdrawn from your account. Such a large block can impact checks you have written or automatic payments you have scheduled. This could lead to a negative balance in your account.
9. Use cash for small purchases. Frequent use of your debit card can make for a nightmare when it comes time to balance your checkbook. If you make several non-PIN transactions, you can also end up with a lot of “pending” transactions at the end of the month, making your check balancing much more difficult. Non-PIN transactions aren’t cleared for several days and this could cause overdrafts if your checkbook isn’t carefully balanced.
10. Contact your bank if you make a mistake. Everyone slips up every once in a while. If you bounce a check, deposit enough money into your account to cover the check and any overdraft fee that your bank may charge. If it is your first overdraft, call the bank as soon as you realize that you have overdrawn your account. Some banks may offer a one-time overdraft fee waiver.
By following these tips, you can avoid the embarrassment and unnecessary expense of a bounced check or overdrawn account.