Controlling and saving money is important, but, more often than not, only a very few people have been successful with their efforts. Controlling and saving money requires time and discipline. With the number of online and offline stores selling different products and services today, it’s easy for most people to lose sight of their goals.

It’s common knowledge that money can affect peoples’ lives in many ways, yet, some still choose to spend hastily without putting any money in their savings. To help you out, listed below are the 3 primary reasons people usually have a hard time controlling and saving their money:

1. Failing To Set Goals

Not having a clear picture of how, why, and how much you want to save can become the reason why your plan will fail. If you’re truly serious about controlling and saving money, you should have a detailed plan on what your goal for saving is, how you’re going to save, and how much you’re going to save after a specific time frame. The more detailed your goals are, the easier it’ll be for you to achieve them.

2. Living Life Without A Budget

Having a high-paying job doesn’t mean that you should live life without a budget. You’ll be surprised how your month’s salary will immediately vanish if you don’t prepare and follow a budget.

If you want to easily control and save money, learn to create a realistic budget, then stick to it. Having one will go a long way for you to attain financial independence in the future.

3. Not Having An Emergency Fund

Regardless of how well-planned your life is, emergencies can still happen. For example, you can lose your job during the most unexpected time or get involved in a car accident even if you’re driving safely.

For you to control and save money effectively, creating an emergency fund is a must. When you have one, you’ll have the resources to get your money in times of emergencies. An emergency fund will save you from a lot of stress as it’ll ensure that you can continue living your life even when an emergency occurs.

Controlling and saving money is vital, and if you’ve been trying to accomplish this task but to no avail, start getting tips from the Wealth Teacher. The information stated in these resources will help you control and save money.

Now let’s get into the guide…

You can save money on everything.

You can haggle anywhere.

And you can always save more.

Let’s start with a list of 14 one-sentence tips that will drastically improve your finances.

These are quick tips, but they will surely make a huge improvement if you take them to heart.

Remember, just because you have heard some of these before, doesn’t mean you actually absorbed it.

Read the list slowly and see if you can implement some of these, especially things that you may have “already heard.”

Hearing alone doesn’t help. It’s about acting and implementation.

Without further ado and in no particular order, here are a total of 14 One-Sentence Tips for your finances…

1. Sell the useless things around the house that you don’t need.
2. Cutting off your cable will not only save you money, but you will have more time to be productive in other areas.
3. Always compare online prices when shopping around.
4. Buy things based on what you and your family need, not based on what other people think.
5. Add up the costs of your jobs (travel, food, expenses and daycare), then determine if it’s worth it for both parents to work.
6. Spend less than you make.
7. Compare rates for insurance companies frequently, since they are always changing, and switch if you find a better deal.
8. Fine tune your budget so that you know where every cent is going and have more control over your money.
9. Use Personal Capital to link your budget and all of your accounts together.
10. Look for promo/coupon codes when you buy online by searching: “[site name] promo code”.
11. Cut out a useless activity, like watching television, and replace it with reading a good book on finances.
12. Cut up your credit cards if you have made late payments or failed to pay them off in full every month.
13. Have an emergency fund for emergencies, not a credit card.
14. Add at least one of these tips to your life today!

Try to implement as many as possible over the next few weeks.

You will notice a change in your finances if you do.

Dollar stores are interesting because they make their money by charging a dollar for everything.

So that means things that are typically $2 or $3 are only a dollar at the dollar store. That also means some things that are typically 50 cents are also a dollar at the dollar store.

Then there are stores like Dollar General, which isn’t really a dollar store at all, if you’re going off the “everything’s a dollar” idea. I suppose Dollar General just means everything is generally…close to a dollar, which is more accurate, but still a little shady if you ask me.

I want to be clear that this list is talking about dollar stores where everything is actually…*drum roll please*…a dollar. Dollar stores can save you money, but if you use them for all your shopping, you may be wasting some money. Also, it’s worth noting that some dollar stores accept coupons and that can be quite lucrative, so check into that with your local stores.

Here are 15 things you should generally buy from the dollar store and some ways to save even more money…

1. Home Décor

Home decorations don’t have to be made out of the most expensive materials. Dollar stores offer really nice options for decorating your home, throughout the year or for the holidays.

Save more money: Look at the clearance sections of places like Ross and TJ Maxx. Or why not make your own? Go to some yard sales and bring some life into older pieces.

2. Party Supplies

Plates, plasticware and party decorations. Dollar stores usually have specific designs, like a one year birthday party or a going away party, but if you need a better selection, try Walmart.

3. Holiday Supplies

Almost everything you need for the holidays can be found at the dollar store. Wrapping paper, gift boxes, tissue paper, etc.

Save more money: The absolute best way to buy holiday supplies is to simply go to large retail stores like Walmart, after the holidays. We bought our Christmas tree there for 90% off.

4. Cleaning Products

You may be picky about your cleaning supplies, but if you’re not, dollar stores have a great variety. I use “LA’s Totally Awesome” for almost all my cleaning. $1/bottle.

Save more money: Make your own cleaning supplies for things like detergents or turn to coupons. Coupons may not always be worth your time, but you can get cleaning supplies practically for free with them if you do it right.

5. Spices

The more expensive spices may be hard to find at your local dollar depot, but for the basic spices, go to dollar stores.

Save more money: Why not make your own?

6. Preserved Foods

This one is 50/50, but when it’s a good deal, it’s a really good deal. Try to keep track of what you pay for canned and other preserved foods, on average.

Save more money: Can your own food. The Frugal Farmer is a great place to learn about canning.

7. Food Storage Containers

If you aren’t looking for quality, but just a cheap way to store food or possibly containers you can give away, the dollar store has the best deals.

Save more money: Walmart’s Black Friday, hands down. You can wait a little later after all the crazies leave to buy the storage containers. It will still be there.

8. Kitchenware

Once again, if you’re not looking for quality, but just looking to stock your cabinets, the dollar store is your friend. Cups, mugs, glasses, plates, etc.. It’s really great if you’re just starting out.

Save more money: Black Friday. Kitchenware isn’t the highest demanded thing, so come after the crazy train leaves.

9. Coloring Supplies

Crayons, markers and colored pencils are cheap at the dollar store. And you can usually get actual Crayola brand if you want it. (Because everyone knows the other brands are junk, or is that just me?)

Save more money: Back to school sales. Get there early. Almost everyone procrastinates until the week before school. If you go within the first week of the sale, you’ll be shopping freely and possibly alone in the aisles.

10. Batteries

Dollar stores often have name brands for cheap. Like everything on this list, it depends on the store, but if you shop around, you’ll find deals on batteries at dollar stores.

Save more money: If you use a lot of batteries, look into rechargeable options.

11. Candy

This one is especially true for movie theater candy. So if you’re one of those theater-goers with the extra large purse , you’ll love the dollar store.

Save more money: Look for sales in the actual candy aisle instead of just looking at the checkout counter. Or just stop eating candy.

12. Greeting Cards

This is the best thing on this list in my opinion. I buy all my greeting cards from the dollar store. They usually still have the $3 or $4 price on the back, so you really feel like you’re getting a deal.

Save more money: Make your own printable cards or use a free greeting card service to send an e-card. Saving the trees and saving money, right?

13. Undergarments

This is especially true for children’s undergarments. Socks and underwear are worth checking out at the dollar store.

Save more money: Outlet malls! Or back to school sales.

14. Crafting Supplies

Crafting items, such as scrap booking supplies are cheap at the dollar store. Once again, you’re not looking for the highest quality, you’re just looking for the visual effect.

15. Balloons

If you can find one of those dollar stores that sell the actual mylar balloons for a dollar and air them up for free, you won’t find a better deal. Some even offer a custom design or wording on them.

Every dollar store is different, so don’t be surprised if you have had a different experience with something on this list.

Just remember to check the dollar stores out and know where to get the best prices in your area.

Who doesn’t love shopping on Amazon?

It’s hard to beat the prices, but what if I told you that you can do better?

I’m not talking about shopping somewhere else.

I’m talking about better deals where you already shop. On Amazon.

Here are 9 tools to become a master shopper on Amazon…

What Works and What Doesn’t

There have been numerous tools through the years for shopping on Amazon.

Many of them have bit the dust like Jungle Crazy, Deal Locker’s Secret Amazon Discountand Refund Please. Those sites were great.

There used to actually be a website that allowed you to get paid when someone bought you something off your wish list…yeah, shut down. It was called AmzWsh and the entire idea of it seemed a little sketchy to me.

I’m actually going to keep this list up to date. I want you to be able to come back to list and use all the resources in the future, including resources I add when I find out about them.

Without further ado, here they are…

9 Tools to Become an Amazon Master Shopper

Check out these 9 tools and the 3 bonus tools at the end…

1. CamelCamelCamel

This one is a must, even if you don’t like camels. It’s a free service that allows you to follow the price of an item and then receive a notification when the price drops. It’s an automated way to save and keep saving. There’s really no reason not to use it.
Visit: CamelCamelCamel

2. Price Jump

Enter the URL of the product you’re interested in and this site will let you know if Amazon has the best price. It will compare other websites that sell that type of product. For example, if you’re looking at electronics, it will compare to places like New Egg and Tiger Direct. This an extremely simple way to save.
Visit: Price Jump

3. Amazon Warehouse Deals

This is like buying used, but not really. Many of the deals are just open-box products. Never used, but the box was opened. The important part is that it’s all backed by Amazon’s return policy. There is nothing “as is” about Amazon Warehouse Deals. You buy a product, if it isn’t what it’s supposed to be, you return it. No risk.
Visit: Amazon Warehouse Deals

4. Amazon Outlet

Markdowns, clearance items, overstocks and more. That’s what the page says. You can score some pretty great deals here, just make sure you don’t buy things just because they are on sale. That can get you in trouble.
Visit: Amazon Outlet

5. Amazon Filler Item Finder

Trying to get to $35 for free shipping? Simply enter the amount you have left to reach $35 and hit enter. It will show a list of items you could add to your cart to get free shipping. This is a great alternative to buying useless junk, just to get free shipping. Buy stuff you actually need.
Visit: Amazon Filler Item Finder

6. Subscribe and Save

This is an autoship type service. If you know you need certain products every month, subsribe and save. Save up to 15% and get free shipping.
Visit: Subscribe and Save

7. Amazon’s Programs

Everyone knows about Amazon Prime. Amazon Mom is also becoming a popular way to buy diapers at a discounts. But did you know about Amazon Student? If you’re an extreme Amazoner, parent or a student, these programs can save you some money.
Visit: Amazon Prime, Amazon Mom, Amazon Student

8. Drop the Price

Yes, Amazon will usually price match. If you find a lower price elsewhere, just click on “tell us about a lower price”. Why not just buy the product there, instead of getting Amazon to price match? Because you can earn cash-back that I’m going to tell you about right now…

9. Cashback

You should be getting cashback from Amazon. Ebates is one site that allows you to earn cashback while shopping on Amazon. We can’t forget the Chase Amazon Visa card. Earn 3% cashback on Amazon purchases? Yes, please. The best part is that you can combine the two.
Visit: Ebates, Chase Amazon Visa

Related: 11 Ways to Make Money When You Spend Money

Bonus Tools

Shopping isn’t all about Amazon.

Lest we forget the classics like eBay and Walmart. Here are 3 bonus tools…

1. Fat Fingers

This is a great way to find mispellings of items you may be looking for on eBay. It works best for things that are hard to spell, but you should always give it a shot.
Visit: Fat Fingers

2. Bay Crazy

Another great eBay tool. My favorite feature is the listing of auctions that are ending soon with 0 bids. You will find some great deals there. You can also use this site to search for misspellings, like Fat Fingers.
Visit: Bay Crazy

3. Walmart Savings Catcher

Finally, a tool for smarter shopping at Walmart. If you find a lower price after you bought something from Walmart, just scan your receipt and Walmart will give you a gift card for the difference.
Visit: Walmart Savings Catcher

Remember when you were able to go months without spending any money at all?

Me neither.

It seems like it was somewhere in my childhood, but…it’s been a while.

We spend money. All the time. That’s life.

Why not make money while we spend? It’s very possible and here are 11 ways to prove it…

Get Smart About Credit Cards

We all know about the credit card rewards out there.

You see the ads in the mail everyday…

“Earn up to 5% cash back on your purchases”

“We offer the highest cash back of any card”

The truth is that nobody offers the highest cash back on everything.

That’s why you need more than one credit card to get as much cash back as possible.

Let me go ahead and preface the rest of this article by saying two things about credit cards:

1. If you use credit cards, pay them off fully every month
2. There are other ways to make money when you spend

Now let’s get back on track…

Choosing the Right Card

It’s common for certain cards to offer a higher cash back for certain purchases.

The percentages will be different, depending on the category, such as:

• Groceries
• Gas
• Specific stores
• Home improvement

Find cards that match your normal purchases.

It’s important that I say “your normal purchases”. Don’t get caught in the trap of buying things you don’t need, or things you wouldn’t normally buy, just to get the cash back. That doesn’t make sense, unless you are a crazy person, but you’re not a crazy person, you are a money-savvy genius…or close to it, at least.

If you have a hard time remembering which card is which, just take a Sharpie and write “Gas” or “Groceries” on the card.

Also, make sure you do your research to find the best cards.

I shop on Amazon.com all the time, so I have an Amazon.com Visa that earns 3% cashback on Amazon purchases. That’s my most used card.

If you have multiple rewards programs, you can keep track of them all with Points.com.

Like I said earlier, there are other ways to make money while spending it. You don’t have to use credit cards. That’s only one way. Let me show you the rest…

Get Paid to Shop

There are a plethora of websites that offer rewards for shopping through them.

Basically you will buy everything you normally buy, but instead of going to the store or the website, you go to one of these sites first. You are then linked to whichever website you want to shop with.

For every dollar you spend, you earn a certain amount of cash back for shopping this way.

Then you can use your credit card to make the purchase and get rewarded twice!

Here are the other 10 ways to earn while you spend:

1. Swagbucks – Earn money for all kinds of things.
2. Ebates – My favorite! Earn while you shop.
3. Fat Wallet (inactive) – Another great way to earn while you shop.
4. Memo Link – Earn while you shop here too.
5. My Points – A fourth way to earn while you shop.
6. My Deals Club – Great coupons and coupon codes.
7. Extrabux – Up to 30% cash back through them.
8. Shop At Home – Cash back for online shopping.
9. Big Crumbs – Yet another cash back shopping site.
10. Mr. Rebates – One more cash back website for you.

Maybe you were already taking advantage of these rewards. Maybe not. But hopefully now you will.

There are so many ways to earn while you spend, why not take advantage of them all?

My wife and I headed into Oklahoma City this past weekend to look for a vehicle.

After spending the majority of the day at a certain car dealership, we ended up driving a new car home…well, new to us.

We are happy with the vehicle, and we were even happier with the price.

Long story short, they were asking almost $9,000 for a vehicle that we ended up purchasing for $2,800.

How did we do that? We used these 6 haggling hacks (I hope you can appreciate the alteration) to get the deal…

1. Be Flexible

We were flexible on everything except the price.

If you’re flexible, you can always move to a different car (or a different seller) when the negotiation doesn’t work out.

We wanted a vehicle with at least 6 seats for under $5,000.

That’s it. We didn’t care if it was a minivan, SUV, or a bus…if it fell within our criteria, we were interested.

This opened up a lot of options, which brings me to my next point…

2. Don’t Get Married at the Dealership

I’m talking about to a vehicle, not to a person. That would be a weird wedding.

There are better places to get married and better things to marry than a car…like a human, for example.

Don’t marry the vehicle you want, even if it’s the “car of your dreams”.

It’s important to know what you want, but not to fall in love.

That’s exactly what the dealer wants.

It won’t be the end of the world if you don’t buy that exact vehicle.

We didn’t fall in love, so we could always walk away, which leads me to…

3. Don’t Be Afraid to Walk Away

We left the dealership and they actually called begging us to come back. That happens when they know you are serious and they know you have money (either in the form of cash or a credit score).

The deal isn’t going anywhere, and if it does, you’ll survive.

Once you have your price set in stone, don’t budge.

You can always find a good deal. Seriously, you can.

Sometimes you have to just walk out so they know you’re serious. You can always come back.

Be prepared to devote at least one day to buying a car and that may mean walking out more than a few times.

4. Be Informed and Know the Value

You should be as informed as possible. It’s easy these days, since most of us have the internet in our palms.

The more informed you are, the less they can take advantage of you.

You can compare the value at these sites:

• Kelly Blue Book
• Edmunds
• NADAguides

Most dealerships use these guides, along with others, such as a “black book value”. But just because they show you a piece of paper with a price on it, that doesn’t mean it’s accurate. Edmunds actually sent a staff writer undercover as a car salesman for a few months and one of the things he discovered is that some dealerships just make up a value and hope you’ll pay high-dollar for the vehicle, instead of questioning the price.

Salesmen tend to…”fluff” the truth a little, so don’t always trust the value they come up with.

Know the value of what you’re looking at. Do your research. You’ll want to check a few things out to get the real value.

It’s a good idea to take a test drive to a local mechanic for a quick inspection. If that’s not an option, try out Firestone or Auto Zone for a quick diagnosis (it’s not completely thorough, but it’s better than nothing).

You can check a lot of it yourself. Just remember to check everything. It’s easy to be sold by a cold A/C in the middle of July, but how well does the heat work?

5. Don’t Be Afraid to Hurt the Salesman’s Feelings

They will try every tactic in the book. They will try to make you feel guilty or even obligated to buy a car, but you don’t owe them anything.

You should see how much they would be willing to help you after you buy the car…probably not much. It’s all sales gimmicks.

The only decision that matters is the one you make. It doesn’t matter what the salesman wants. It’s your money. It’s ok if you decide not to buy and they get upset.

6. Don’t Finance, Get Rewards Instead

Pay cash. plain and simple. If you have to finance, you can’t afford it.

You have more negotiation power with cash. When you finance, they can always talk you into buying more car.

You should never finance something that depreciates.

We used a credit card for the purchase to get the cash-back. More money saved!

Just be sure to pay it off in full when the bill comes in.

One Last Tip

We actually had a great experience buying our car. It was fun to haggle and watch the price sink lower and lower.

You will usually get a better deal when buying private-party, but we chose to keep our options open to dealerships as well…and it worked out well for us.

It was sad, however, to watch the couples sitting in the different offices. Sad, upset and even scared. One lady was crying!

That’s what happens when you finance and especially when you overpay. It can be stressful.

We walked away knowing our car was paid in full. It’s a great feeling.

One Last Tip: Make sure everything that is promised is on paper. A tank of gas, gift certificates, a TV…these are a few examples of what dealerships will do to earn your business. Make sure, if you haven’t already received it, that it’s in the paperwork or you might as well forget about it.

And don’t forget to ask for the CarFax Report. No need to pay for one yourself.  Any reputable dealership will provide one, free of charge.

My wife was nice enough to share some of her secrets.

When people see how much money she saves, they always want the inside scoop.

Here it is! Ladies and gentlemen, I introduce my wife to give you some saving advice…

From door handles to baby gates to the cabinets under the sink, we do a thorough job of child-proofing our homes.

But do we make sure our finances are child-proof?

With children come new expenses. Expenses that can get out of control if we don’t have a plan.

Here are 21 tips for child-proofing your finances…

1. Get Free Products

Sign up for baby clubs of products you use.

They will send you coupons for things you’re already buying.

You can also get samples from your OBGYN or pediatrician. I did not pay for prenatal vitamins the entire time I was pregnant (and for a couple months after I gave birth). My OB gave me what I needed.

This can also be true for some prescriptions at the doctor’s office. I can’t tell you how many times I didn’t have to buy a prescription because I asked the doctor for free samples.

2. Don’t Say “No” to Baby Showers

They take time, but what you get is completely FREE.

If you get stuff you won’t use, just return it for stuff you actually need.

3. Use Cloth Diapers

Using cloth diapers is not only great for your baby’s skin, but it can save hundreds over the span of the diapering age.

I chose to do a mixture of cloth and disposable. I use disposable when my child sleeps so I don’t have to change him every time he wakes up (plus, it’s easier to get him back to sleep).

I also use disposable diapers when we go into public or when someone else watches him away from home. Then I don’t have to tote dirty diapers.

I end up using 1 or 2 disposable diapers a day instead of 6-10 or even more!

I have heard of babies using upwards of 20 per day!

You can also use wash cloths instead of wipes. You can dampen them with water and add a little Witchhazel to the mix if/when they get a diaper rash.

4. Breastfeed

If you are able to, breastfeed your baby. It saves time and money.

With our first child, I was unable to produce enough milk, so I breastfed as much as I could, then supplemented with formula for the rest of her diet.

Also, be sure to check with your hospital or insurance provider if you need a breast pump. Sometimes they are free or at least discounted. You can also rent one from some hospitals.

5. Be Smart About Baby Food

Solid baby foods can be made in a blender or food processor. You can feed your baby whatever you are eating (make sure to introduce foods according to what your pediatrician suggests).

You can also buy canned veggies and process/blend those for quick feedings.

For the ease of it you could try canned pumpkin or unsweetened apple sauce. It’s already a good consistency.

6. Don’t Pay Retail for Your Car Seat

Make sure to get your car seat from a trusted source.

Always check to see if the car seat has been in an accident and check it’s expiration date (they have expiration tags on the bottom).

That being said, a car seat can be a great hand-me-down from friends or family. Or you can always reuse one from an older child.

7. Plan Ahead

Have a small bag in the car with a few diapers, some wipes, a change of clothes and some snacks.

This will keep you from having to make “spur of the moment” purchases when something unexpected happens.

8. Compare Hospital Costs

All hospitals are not created equal.

Some hospitals charge for television usage as well as other “perks” such as single recovery rooms.

Keep this in mind when you are looking at the potential overall cost of your stay.

And just so you know, you or your insurance company has paid for all the items stanched under your little ones bassinet. Don’t forget that stuff. Baby wash, diapers, thermometer/covers, wipes…it’s all yours!

9. Don’t Immediately Go to the Doctor

If it’s not a life threatening issue, call your doctor and talk to them over the phone instead of automatically making an appointment

A lot of times they can diagnose and even prescribe a treatment over the phone, potentially saving you the cost of a doctor’s visit.

10. Borrow

Many times you can borrow baby items from a friend or relative who isn’t using them.

Some big ticket items such as a breast pump, baby swing, jumper, or car seat can be borrowed at zero cost to you.

11. Swap Sitting Services

Alliteration aside…ask a trusted friend to swap sitting with you.

They can watch your kids one night and you can watch their kids another.

If they don’t have kids, maybe you could swap them some other service such as dog sitting or mowing their lawn.

This not only saves you money, but it saves your friend’s money too!

12. Don’t Be Afraid to Say “No”

Kids will be kids. And that usually means they ask for a lot.

It’s a great thing to get them what they want…sometimes.

Learn to tell them no, especially if it is an impulse request, but don’t forget to explain why you are telling them no.

My daughter asks for a lot after she sees a commercial or walks down the toy isle.

Oh, marketing.

Does she usually remember that toy exists a week later? Nope.

I listen to her requests and file them away. When she asks for something often, that can give me a great gift idea for the next holiday!

13. Know What Your Insurance Covers

Insurance doesn’t always cover everything.

I always discuss what my insurance covers with my doctor and let them know that I DO NOT want any procedure that is not covered by my insurance unless they talk to me about it first.

A lot of doctors just follow a routine and it can end up costing you more if your insurance does not cover their “routine”.

Some insurance companies don’t cover things like the 2nd ultra sound when you are pregnant unless it is medically necessary. Speaking of pregnancy, if you don’t have insurance, some hospitals have a reduced payment plan for births (among other things). It never hurts to ask!

14. Count the Cost of Daycare

It isn’t always beneficial for both spouses to work outside the home.

If the cost of daycare outweighs (or comes close to) the income brought in by the second spouse, you might want to reconsider. At least calculate what you actually earn after expenses.

For instance, if day care is $300 per week and the second spouse makes $9 an hour for 40 hours, they essentially added $60 a week to the total household income.

What could you cut back to save $60 a month and have the second spouse stay at home?

After expenses like commuting and eating out, there may be even less than $60.

15. Don’t Always Buy in Bulk

Always calculate cost per ounce or item such as per diaper.

Contrary to popular belief, the bigger package isn’t necessarily the best price.

I also find that quite often they are close to the same price per ounce/item and with a coupon; it makes the smaller package a better deal.

Take the time to check. It’s worth it.

Some stores list the price per ounce on the shelf tags. Double check these as well. Surprisingly, they are not always correct.

16. Baby Stuff? Think Resale, Not Retail

Buy baby stuff from resale shops, yard sales and other second hand places.

Facebook swap shops are great for this!

You can purchase baby toys such as jumpers for pennies on the dollar and quite often, they are barely used because of how quickly they are outgrown.

17. Be Reasonable With Baby Clothes

Why not purchase baby clothes used as well?

Baby clothes are worn only a hand full of times before they are out-grown.

If you buy new, you end up paying $15 for an outfit that you can sell for $1 a month later when your baby out grows it.

Also, buy unisex colors/styles so that they can be reused for more babies in the future. You never know what (or who) is going to happen.

Forego the shoes. They outgrow the footwear very quickly. Shoes are cute, but they are unnecessary for babies until they start walking.

18. Compare Prices

Before you buy, make sure you are getting the best deal. Many times you could buy items for less on the internet or at another local store than the “one” you always shop at.

No one store has the best deal on everything.

Try to know the average price of the items you buy frequently.

Kalen and I frequently buy things like diapers off of Amazon instead of in store. You can often buy them with a damaged box (but no damaged or open diapers) for much less.

Amazon also shows the price per count for easy price comparison.

While you are comparing prices, make sure to check out the reviews on the products you are considering buying to see what others like you have to say about the product’s value. You can also talk to friends or family to see what their favorite or most useful buys are.

19. Buy What You Need When You Don’t Need It

If the item is not perishable or doesn’t expire quickly, buy it when it is on sale or when you have a coupon. Or both!

If you don’t do this, you know you will have to buy the item anyway and when you do, you will end up paying full price for it.

Why pay full price for anything, really?

Here are a few things that you could be looking for:

• Paper Towels
• Toilet Paper
• Laundry Detergent
• Soap/Shampoo/Conditioner
• Shaving Cream

This is a great concept for Christmas and holiday gifts too; you can buy things all year round when they go on sale and put them away for later.

20. Pay for the Product, Not the Marketing

You may find a store brand or a less expensive brand that you like just as well or better than the one you have always used.

Often these brands are made by the same name brand companies, just without all of the fancy packaging.

Name brands are mostly only more expensive because of the marketing, advertising and packaging.

21. Don’t Buy What You Don’t Need

This seems obvious, but we still do it.

Do we really need a fancy expensive diaper disposal pail? Why not use a grocery sack? Tie up the used diapers and throw them out.

Do we really need 20 outfits of one size? Why not use 6 or 7 and just wash them every couple days?

This also works well with our cloth diaper regimen.

What about a changing station? Could you use the top of a low dresser? Why not use the floor or the bed?

Sometimes saving money on what you “need” can be as simple as challenging the concept of what is “needed”.

Buying a home. The American dream. Though many are questioning whether it still makes sense to buy or if you should rent, many still believe that a home can be worth the price tag. When you’re buying a home, there are a few things you need to know. First, you want to make sure the property you’re buying is worth it. Consider doing a few things before you buy:

• Get your own home appraisal
• Get a professional home inspection
• Get a real estate agent that knows their job
• Get a feel for the area by talking to some homeowners
• Get everything in writing – verbal agreements don’t hold up

Once you have found your home and you’re ready to get a mortgage, it’s extremely important to get the best interest rate you can find; it’s amazing the difference 1% can make on how much you pay over the life of the loan. If you already have a mortgage, run the numbers to see if a refinance is right for you.

Let’s start there: refinancing…

Refinancing your home is like the government.

Sometimes it makes sense.

Sometimes it doesn’t.

And sometimes it will force you to spend a lot of money with little or no return.

Doesn’t that remind you of the government?

So, when does it make sense to refinance?

There are ways to figure that out and there are some things you need to know about refinancing…

Refinancing Explained

Refinancing is the process of taking out a new loan to pay your existing loan.

There are several reasons for this:

• Lowering your interest rate
• Shortening the term of your mortgage
• Switching one type of mortgage to another
• Retrieving some of your home equity
• Possibly even debt consolidation

But, wait! It doesn’t come free… or even cheap, really.

There are costs associated with refinancing, such as:

• Appraisal fees
• Application and processing fees
• Title search fee
• A percentage of the loan’s principle

Like I said, it’s not always cheap. But…it’s often worth it.

Lowering Your Interest Rate

When seeking to lower your interest rate, you need to make sure that the change is enough to be worth it.

Refinancing companies will usually run your numbers and tell you whether or not it is best for you, but it’s best to know for yourself.

Use the calculator below to figure out how much money you will save with your new interest rate. Weigh that against the estimated closing costs for refinancing. Make your decision.

Even a 1% drop in your interest rate can make a huge difference.

Shortening the Term

Generally, the shorter the loan, the lower the interest rate. This is typically a win – win.

As long as you can afford the monthly payments and everything else makes sense, you should go for the shorter mortgage, even if it requires you to refinance.

It is easy to pay off a 30 year mortgage in 15 years, but it’s easier not to.

That’s why most people don’t do it.

If the interest rate is higher or the same, you will need to run the numbers.

If interest rates are down and you are locked in at a higher rate, you may even be able to shorten your mortgage without changing your payment.

Shortening your term makes much more sense in the earlier years than the later years, but once you run the numbers, you will know if it works for you.

Switching Loan Types

If you have a “creative financing” type of loan, such as an adjustable-rate mortgage (ARM), switching to a fixed-rate mortgage is a good idea.

At a minimum, you are reducing the risk of having interest rates skyrocket.

Creative financing can be very risky, so make sure you know what you are doing if you decide to use it.

Don’t fall into the trap of thinking that creative financing is the only way you can afford a home in your area. If that’s the case, you can’t afford to live there.

Tapping Into Home Equity

Not a good idea.

If you need to borrow money from your home equity, you can’t afford what you are buying.

As far as emergencies, use an emergency fund.

Running the Numbers

Basically, you should run the numbers to see if a refinance makes sense for you.

Hopefully you have a better understanding of what to look for.

You have everything you need to make the decision. Now you make the call.

Should you pay your mortgage off early?

Some people believe paying off your mortgage early is dumb. Let’s see why they think that…

Why is it Dumb?

I have read the articles on why you shouldn’t pay off your mortgage early and why it is “dumb” to do so.

Those arguments, for the most part, are pretty terrible.

Obviously, check to see if you have a pre-payment penalty, but if it isn’t that high, it may still be a good idea to pay your mortgage off early.

And yes…

Don’t Pay Off Your Mortgage Until…

One of the main things people will say about paying your mortgage off early is that you need to have the rest of your debt paid off first.

Really? Is that not obvious?

What should be paid off before you start aggressively attacking your mortgage?

Just about everything.

• Personal loans
• Credit card debt
• Student loans
• Auto loans
• Medical bills

…to name a few.

Your mortgage should be the last debt you pay off.

I actually read an article that explained how you shouldn’t pay off your mortgage early, because your finances could “go south” and you may need to take out the extra equity you’ve put in. Come on, people! That’s why you have a fully-funded emergency fund before you start pouring money into mortgage payments.

Do This First

It’s equally important to set yourself up for success before you pay off the mortgage.

So do this before you begin to aggressively pay off your mortgage:

• Pay off the rest of your debt.
• Fully fund your emergency fund.
• Max out your IRA for the year.

Many people will also tell you that you need to make “sufficient contributions” to your children’s education accounts, but obviously that is up to you. Don’t feel like you “need” to do that before paying off your home. It’s not your responsibility to pay for your children’s education, but it is nice and [hopefully] they will appreciate it.

Why You Should Pay Your Mortgage Off Early

Once your home is paid off, you [usually] cut out your biggest payment.

Talk about setting yourself up for success.

Just picture it…

You now own a huge asset that is paid in full. Your home is no longer the liability it once was since you no longer paying for it.

Sure, you have maintenance costs and repairs, but when your home is paid off and you have a fully funded emergency fund, your cashflow can take care of most of those expenses.

This should get you excited about paying off your mortgage:

• You can live in a home that you own instead of a home the bank owns.
• You have the option to sell you home for pure profit.
• You can live on much less since you lost that huge payment.

You can’t set yourself up much better than that.

Yes, you should pay your mortgage off early.

Once you have done everything mentioned here, get to work!

Another Option: A Compromise?

There are strategies for paying off your home early. We’ll get to them in a moment.

Those strategies are great and they work.

With mortgage rates being so low, why not invest the extra money instead of paying off your home?

I really don’t think you have to pick. I think you can do both.

If you want to pay off your home early, this may be the best strategy for you.

Let me explain…

Meet in the Middle

I haven’t read about this strategy before, so I am just going to claim a name!

I am calling it “meet in the middle”.

Since there is a big debate about whether you should pay off your mortgage early or invest that extra money, let’s look at both sides.

For this article, we will refer to these two crowds as the “OCD Investors” and the “Debt Haters”.

The “OCD Investors” think, with mortgage rates being so low, you can earn more money by investing than you can save by paying off your mortgage early.

The “Debt Haters” think, as long as you have a mortgage, you are in debt. And they hate debt (hence the name).

So, who’s right? Both of them.

Can’t We All Just Get Along?

I have devised a plan.

A plan to unite OCD Investors and Debt-Haters everywhere

It’s as simple as investing the extra money you would be putting towards your home.

Keep steadily investing until you accumulate the amount that you owe on your home.

Or, in other words, until you meet in the middle.

To start, just figure out how much you can contribute each month and start investing.

Make sure to use a separate account from all your other investments.

If you can’t afford the fund you want, start with a mutual fund that has a smaller initial investment, then keep upgrading once you have enough for the fund you want.

Once your investment is worth the amount you owe on your home, pay it off.

Is This the Best Mortgage Strategy?

This is only the best method if you can get a high enough return on your investment to earn more by investing than you would save by paying extra on your mortgage.

Usually this strategy wins, because you should be able to get a low mortgage rate right now and your return on some good basic index funds should yield a high return.

To calculate your situation, you need to figure out:

1. Your available amount to invest
2. Your mortgage interest rate
3. Your specific tax situation

Simple Steps: Once you know how much you can contribute, use this calculator to see how many years and how much money you would save by paying extra on your mortgage. Then use this calculator to see how much you could realistically earn by investing.

This strategy works great for some, but not for others.

For example, if you’re interest rate is really high, you may want to refinance. If you can’t refinance for some reason, it may be more beneficial to pay extra on your mortgage.

The thing about this strategy is that it works extremely well for those who are in the right situation to make it work.

There are many variables, especially interest rates and taxes…

Watch Out for Uncle Sam

Obviously, it wouldn’t be worth your time to invest all this money, only to pay high taxes when you withdrawal to pay off your mortgage.

There are some ways to accomplish this strategy tax-free…

If you will be over 59 1/2 when you pull the money out, you can put it in a Roth IRA (if you meet the requirements).

If you are in the 10% or 15% tax bracket (USA), you pay 0% long-term capital gains taxes (long-term means gains on assets held for longer than 1 year).

Of course, tax brackets can always change, but they will most likely remain very low for the bottom tax brackets.

If you don’t have any options for tax breaks, you may have to do some more math. If you’re in a higher tax bracket, it may benefit you more to simply pay extra on your loan.

Just make sure it makes sense when you calculate your rate-of-return, taxes and interest rates.

Every situation is different.

Final Thoughts

This strategy is not for everyone.

You may not be able to make this method work.

Calculate the costs. If this method doesn’t make sense for you, you will have to choose a side, my friend.

“Debt hater” or “OCD investor”.

Figure out what is more important to you. Being debt free or creating the most possible wealth.

There is no right answer. It’s about your priorities.

If you’re not sure whether this makes sense for your situation, just leave a comment or send me a message. I would be more than happy to run your numbers.

“I’m in debt. I am a true American.” -Balki Bartokomous

It’s true. Just about every person in American (and much of the world) is in debt.

We are so used to it that we even consider ourselves to be debt-free when we still have a mortgage.

You know how it goes…

“Yeah, I’m debt-free…well, except for my house.”

If you have a mortgage you are not debt-free.

But you can be…

There is a lot to know before you start paying off your home early…

Types of Mortgages

There are many types of mortgages, but really, only a few apply to the savvy home-buyer.

Fixed-Rate Mortgages

Fixed-rate mortgages have a fixed interest rate for the entire life of the loan. This means that you will pay the same interest rate until it is paid off (or until you refinance). Fixed-rate mortgages are predictable since the interest rate remains the same. The standard loan is 30 years (in America), but it’s also fairly standard to see a 10, 15 or 20 year fixed-rate mortgage. The shorter, the better. Under no circumstance should you ever take out a fixed-rate loan for over 30 years. If you need a 40 year loan, you can’t afford that house!

Adjustable-Rate Mortgages (ARMs)

Adjustable-rate mortgages (ARMs) have an adjustable interest rate. Usually the rate is fixed for a certain amount of time, but after that time it fluctuates with the market rates. ARMs are unpredictable since interest rates fluctuate. They can go lower, but they can also go much higher. This makes an ARM much more risky than a fixed-rate mortgage. To keep it simple, I would just say: don’t do it!

Other Mortgage Types

Other mortgage types include interest-only mortgages, interest-only ARMs, balloon mortgages and other types of “creative financing”. There are also several variations of ARMs. These types of loans are very risky and should never be used by the average home buyer. In my opinion, they should never be used, period.

A fixed-rate mortgage is the safest and most predictable type of mortgage. Unless you are experienced with creative financing, stick with a fixed-rate. I recommend refinancing if you have anything but a fixed-rate.

It All Comes Down to One Thing

No matter which type of loan you may have, there is one very important thing for you to know right now when you are attempting to pay off any mortgage early.

It’s all about making extra principle payments.

I have probably heard 100 different ways to pay off a mortgage early and every single one of them equated to paying extra principle payments in one way or another, but that doesn’t mean that they aren’t all effective.

There are different reasons for the different strategies.

These strategies are not magic, but they work. And they set you up to be able to make extra principle payments, even if you don’t think you can afford to.

Pre-Payment Penalties

Everyone likes to talk about pre-payment penalties.

I have actually heard this as an excuse for not paying off a mortgage early.

Many loans don’t even have them. You need to contact your mortgage company if you are unsure and figure out if your loan has pre-payment penalties.

Even if you do have pre-payment penalties that doesn’t mean you shouldn’t pay off your mortgage early.

Yes, the bank would love for you to make payments for the entire length of the mortgage, 15, 20 or 30 years. That’s why pre-payment penalties exist, but don’t let them scare you!

These penalties generally only apply to the extra principle payments you make, not to your regular payments. Even if you have a penalty, you will almost always benefit from making extra principle payments.

Pay More, Earlier

You will see a bigger difference when you make extra principle payments in the earlier years of your mortgage, as opposed to the later years.

With a fixed mortgage, your payments will stay the same over the life of the loan as long as nothing about your loans changes.

Your interest rate will also stay the same with a fixed mortgage.

You payment is made up of principle and interest.

This means that in the early years, your payments will be almost entirely made up of interest. In the later years, your payments will be almost entirely made up of principle.

Why? Because your payment amount stays the same and your payment always includes principle and interest. In the earlier years, you owe much more on your home than in the later years.

Once you have paid off the majority of your mortgage, you are paying much smaller interest payments and much larger principle payments. Think about it: 6% of $150,000 (when you first get your loan) is a lot more than 6% of $20,000 (after you have paid off most of your loan).

Does that make sense? Hopefully! But if you have questions, that’s what the comments are for.

It’s important to make extra principle payments in the early years in order to pay less interest overall. Once you make it to the final years of the loan, you won’t notice as much of a difference.

Some people say that you shouldn’t pay off your mortgage early, but you should invest the money since you can generally earn more by investing than you can save by paying off your mortgage early.

This is true, but it’s much more true in the later years of your mortgage.

If you are in the very first few years of your mortgage, you can make a huge impact just by paying a little extra here are there.

It can mean years off the life of your loan if you pay extra in the beginning.

What Are You Putting Down?

If you are still looking for a home, consider making a sizable down payment.

You will reduce your overall mortgage amount. You will reduce your monthly payments, which makes it easier to pay extra. And you will pay less interest!

Don’t fall for those first-time buyer 0% down loans.

Plus, there are great ways to save money for your down payment.

First, you need to determine how long it will be before you will be buying a home.

If it is less than 5 years, you should save your money in a savings account, Money Market account or possibly a very conservative mutual fund.

If it is more than 5 years, you should invest your money in a moderate to aggressive index fund until 5 years before you plan to buy, then transfer to a safer account.

If this is your first home, you can use an IRA to shelter your down payment.

Now let’s talk about something that you may have heard about, but you may not understand…

A Word About Private Mortgage Insurance

Private mortgage insurance (PMI) is basically an insurance that the lender uses as protection in the event that you default on your loan.

It’s common for loans with less than a 20% down payment, since those are viewed as a “riskier” investment by the lender.

If you are required to pay PMI, it is typically included in your monthly payments.

The thing that many people don’t know about PMI is that once you have paid 20% of your total loan, you can drop it, but don’t expect the lender to remind you about this.

If you are required to pay it, pay 20% of your loan as quickly as possible, then call your lender and kindly ask them to remove your PMI.

These are extremely powerful strategies for paying off your mortgage early.

1. The Short-Term Strategy

This is a big one.

30 years is a long time to pay for a house. Opt for a 15 year mortgage or even a 10. If you can’t afford to take out a mortgage shorter than 30 years, you can’t afford that house.

If you can’t refinance, that’s ok! You can pay a little extra on a 30 year loan to pay it off quicker. Look at how much extra you would have to pay to pay it off early, it’s not much:

This is the amount you would pay every month (for an 8%, $100,000 loan) to pay off your mortgage early:

• 30 years: $733.76
• 25 years: $771.82
• 20 years: $836.44
• 15 years: $955.65
• 10 years: $1213.28

Did you notice that there is only a $102.68 difference between paying off this loan in 30 years and paying it off in 20 years? That’s 10 years off your mortgage!

Figure out your numbers and how much you can save with Dave Ramsey’s free mortgage calculator.

Not only do you pay off your mortgage earlier with a shorter loan, but the interest rate is usually much lower as well. Why? Simply because the bank is “stuck” or “locked-in” at that interest rate for a shorter period of time.

2. The First Day Payment Strategy

If you take full advantage of this strategy, it is one of the most powerful ways to make a huge impact on shortening the life of your mortgage without paying extra.

You simply make your first payment on the day the loan is activated (the day the lender starts charging interest) instead of waiting until your first payment is due.

This works so well, because this way, your entire first payment goes towards principle. Principle payments have the most impact during the early years, especially this first payment.

It will make you sick to see how much of each payment is going to principle in the early years of a mortgage. There could be as little as $20 or $30 each month going to principle on a $1200 payment. The rest is going towards interest.

If are already the proud owner of a mortgage, you can still apply this strategy by simply making one extra full payment. It won’t have quite the same effect as it will on the first day, but you will still knock some time off your mortgage.

3. The Famous Split-Payment Strategy

You’ve probably heard of it. Some people think it’s magic, but it’s actually a really simple concept.

You simply pay half your payment twice per month, instead of making one full payment.

This works in 2 different ways…

1. Paying half-payments every 2 weeks will cause you to automatically make one extra full payment every year. (26 half-payments per year comes out to a total of 13 full payments instead of the usual 12)
2. You will lower the principle balance 26 times per year instead of 12.

You can usually set this up with your bank, but if they won’t do it, you can still take advantage of this strategy by adding a little extra to your principle each month.

To figure this out for your mortgage, simply divide the amount of your principle payment (principle only, not escrow or interest) by twelve and add that amount to each month’s payment.

For example, if you have a $500 payment, add $41.67 to your principle every month and you will achieve the same effect.

We all know the story of the college drop-outs who became millionaires… or even billionaires.

Those people did still attend college, so that’s not really an argument against attending college. They also usually dropped out with a set plan or because they were already making a lot of money with their business.

I think the lesson here is: “work to learn, not to earn”.

Whether you are working towards a degree or working for a company, you shouldn’t be doing anything strictly for the money, unless of course you want to be unhappy for the rest of your life, and then…by all means! At least you’ll have money, right?

Is it Worth It?

A degree, on it’s own, is just a piece of paper. If you have a set plan and you need a degree to reach your goals, then you have every reason to go after it, even if you have to go into debt.

On the other hand, if you don’t have a plan, a college degree is often a waste of money. I know more than a few people with a college degree and a job that doesn’t require one.

It really comes down to the specific situation.

Contrary to popular belief, going to college is not always the right answer.

I am a huge advocate for education and learning, but if you are going to go into some serious debt for it, do your research and be sure you are making a wise decision.

Let’s look at the numbers and some stats in this infographic from EducareLab to get a better understanding of the overall picture…

Should you save for your children’s education?

A better question is “should you invest for your children’s education?”

There is a simple cut and dry answer here…it depends…it’s really up to you.

Did I say cut and dry? Forgive me.

You are not obligated to pay for their college. It’s not your responsibility as a parent.

However, it is nice to be able to help them out. Here are the best ways to do it…

The Age Old Question

As long as I can remember, people have been talking about whether or not you should pay for your kid’s college.

Do I? Yes. My wife and I save for each one of our four children. Not enough for a free ride, but enough to make them feel like college is a legitimate option, even without scholarships.

I realize that you don’t have to go to college to be successful and sometimes it makes sense not to go, so nobody is forced in our home.

The thing is, it doesn’t take that much money, invested monthly, over many years, to build a decent education fund.

Let’s look at ways to build that education nest egg…

1. The Popular: 529 Plan

529s are offered accross the entire United States, but they are state-specific.

That doesn’t mean you have to open one in your state though.

You can live in one state, open an account in another and go to school in a completely different state.

If the money is used for education, your earnings are tax-free. There is a 10% penalty, if it’s not used for education.
Here are the positives to a 529:

• You, not your children, have total control over the money
• The things you can spend the money on are fairly liberal
• There are no income restrictions to open a 529 account
• Most states don’t have an age limit for using the money
• You can easily transfer the money to a different child

Here are the negatives to a 529:

• You don’t have direct control over the investments

Interested in opening one? Try TD Ameritrade.

2. The Less Common: Coverdell’s ESA

A Coverdell ESA (Education Savings Account) is another option.

This option may be useless for your child’s college fund (due to the restrictions), but they do work for some people and certain situations.

The contribution limit is currently $2,000/year (per child), which is quite low. But if you don’t plan on investing more than that, it doesn’t really matter.

There is one unique (non-college) benefit of using Coverdell’s though…you can use the money to pay for other schooling, such as elementary or private schools.

Here are the positives to a Coverdell’s ESA:

• You can use the money to pay for lower level education
• You can use the money to pay for a tutor of test prep classes
• You can easily transfer the money to a different child

Here are the negatives to a Coverdell’s ESA:

• The contribution is quite low for an education fund ($2,000 currently)
• The funds must be used within 30 days of the beneficiary turning 30
• The beneficiary must be under 18 while you’re contributing to the fund

3. The Classic: Roth IRA

IRAs aren’t just for retirement.

Roth IRAs can actually serve two purposes. Retirement and education.

You can withdrawal money from your Roth IRA, before you are 59 1/2, without the 10% penalty, if the money is used for higher education.

There are two schools of thought on using Roth IRAs for education.

One side says it’s a bad idea, because most people aren’t fully funded for retirement. In other words: don’t bankrupt your retirement account for your children’s college. The contribution limit is $5,500 (as of 2014), so you don’t have a whole lot of room to invest for your retirement and your child’s education in the same account, but you should also keep in mind that the contribution limit is per individual, not per household.

The other side says it’s a good idea, because you have the option to use the money for retirement if your child doesn’t use it for college. That makes sense too.

It all comes down to where you’re at with retirement and what your priorities are.

Here are the positives to a Roth IRA:

• You can use the money for retirement if your child doesn’t use it
• You have a wide range of investment options (basically anything)

Here are the negatives to a Roth IRA:

• The contribution limit is $5,500, which limits your retirement funding

.2 More Options

These are what I consider the .2 options in “3.2”. The above options are generally preferable, but there are some circumstances where you might need these:

Municipal Bonds are an option, especially if you’re in a high income bracket. They usually won’t yield a very high return (around 3-4% on average), but you also aren’t forced to use the money for education.

Custodial Accounts. The Uniform Gifts to Minors Act and Uniform Transfers to Minors Act allow you to make your child the trustee; however, once the child turns 18 or 21 (depending on your state), they can use the money for whatever they please. That’s a scary thought. Think: The Parable of the Prodigal Son.

Tax-Free Education

All of these accounts can grow tax free. Figure out what works best for you.

If you want to save for your child’s education, you have options. Just get started.

But remember, it’s not your responsibility. It’s a privilege for your children, not a right.

I started to write a gigantic list of everywhere that offers a student discount and then I thought twice about it…

Why waste your time searching for companies that offer discounts when there is a better alternative?

Here’s what you should be doing…

Start by Asking Everyone

These days most businesses do offer some type of student discount.

If you’re in a college town, you’ve probably noticed that most places offer a discount. A Pizza Hut or a Chili’s in other towns may not, but in your college town they do. Or at least, they have cheap specials directly for students.

So why search for a list of discounts when you can ask everyone?

Even if they don’t advertise it, many places will give a student discount. This goes for military, firefighters, AAA and police discounts too. There’s no need to look for a list if you can always remember to ask. I’m in the military and I don’t go anywhere without asking for a military discount. I’m also a student so I can usually get something. If they don’t have a discount, no big deal, but you asked. You’ll have a lot more luck by asking everyone rather than searching for lists.

So with all the lists out there, don’t waste your time, just ask everyone. However, I’ve included an extremely helpful list of 10 student discounts you can still get after you graduate. This list is great, since most places don’t continue the discount…

Every little bit helps and I’m all for asking for discounts, but don’t waste your time looking for an exhaustive list. Use the list above for after you graduate (or if you already graduated), but until then, ask everyone! You’ll be surprised at the places that offer a discount.

More often than not, college students are constantly facing shortage of money even if they have managed to acquire a student loan. While the funding may appear to be enough when you get it at the beginning of the term, it is not long before you realize that you will need to seriously budget to last it throughout. This is the hard part; budgeting, to make sure that you do not run out of money before you receive your next funding. However, it is not so difficult that you would term it impossible. I would like to list down a couple of saving tips for you college students.

1. Save Money on Food

You do not have to live on scraps of food. No, this is definitely not what I am trying to say. But you can definitely save a lot by planning out your meals rather than getting a takeaway on your way back home. You can buy the ingredients and cook up your meal at home. It would be cheaper along with being more hygienic, healthy and tasty. If you are living with roommates you all can together buy your food in bulk, further saving on food expenses. Another possibility is growing your vegetables and fruits yourself. Again, this would lead to tremendous savings. Both your wallet and your body would be better off this way. Of course, gardening requires time and I would advise you to go for it only if you can afford to. There is definitely no point in saving money this way if it costs you your studies.

Of course you would want to dine out sometimes. Everyone likes that and a treat once, or max, twice a month should not hurt, provided you do not go overboard. Opt for happy hours or deals available.

2. Save Money on Textbooks

You have the option of renting out or buying used textbooks for your courses. Buying new textbooks costs a lot and there is no point in doing that because you would probably not need them after your course. There are textbook rentals that you can go for, or look for websites who deal in used books. Another option is to exchange your old books, or even sell them off to, at least partially, recover the costs.

3. Save Money on Transportation

If your campus is near your place it would be a good idea to walk or bike to it. Besides saving you fuel costs it would also be a good exercise for you, keeping you fit and building your stamina. If your campus is not at a walking distance from your residence you can opt for public transportation. Again, get a student discount pass if your college offers one. If you own a ride you can get your fellow classmates to carpool with you. It would be economical for all of you and you would not have to burden the fuel costs on your own. If you do not have a car, do not even think of getting one at this point!

4. Avail Student Discounts

There are loads and loads of student discounts available out there. All you need to do is look. From restaurants to libraries, accessory shops, transport and cinemas – you name it. Even if a particular outlet has not mentioned out loud about the student discounts they have, it would not hurt to ask. Chances are that they probably do have deals for students. If you keep a track of the savings you get through such offers over a period of time, you will realize how beneficial it turned out to be.

5. Avoid Credit Cards

Try not to use your credit card until and unless there is an emergency. And definitely never use it for anything that you do not really need. While you may particularly need them when you are extremely tight on money, make sure that you are not careless with it. One way to ensure that is by keeping a low credit limit. Pay off the balance every month and pay on time to avoid extra costs. Just do not let the debt manage you!

Learn the difference between needs and wants and draw out a clear line between the two. Avoid buying anything expensive that you do not actually need. I am sure you will be able to find cheaper substitutes. For example, you may have your eyes on that super pretty costume you want for the college Halloween party. Or a gaming mouse you have been after since a long time. Try to get a cheaper, non-branded version instead. The important thing to remember is to stay debt free during college and to develop a habit of properly managing your finances. These habits would go a long way in ensuring that you do not accumulate debt later on as well.

Attending college is a rewarding and exciting time in a young person’s life. It’s a period marking your transition from childhood to adulthood and the obligations that come along with it. A critical area of responsibility necessary for this change is finances; you must be financially prepared for college and everything that comes after. Savings, scholarships and grants, and student loans are topics you need to become educated in.

Savings Programs

Hopefully you already have a savings program, such as a 529 plan, in place. Named after Internal Revenue Code 529, these plans are designed to invest in higher education. Parents and guardians typically open these accounts to save money for their children’s future education. All qualified education expense withdrawals from 529 accounts are free from federal income tax.

If you do not already have a savings plan in place, start now; even small savings add up and make a big difference in the long term.

Scholarships and Grants

Scholarships and grants are funds awarded to you based on merit or need. They are “free money” in the sense that you are not required to repay the funds you receive. Scholarships may be “merit-based” meaning you have to meet certain standards set forth by the scholarship giver; whether that is in the area of academic achievement, sports, or talent. Grants are typically awarded based on financial need rather than merit. Schools, employers, private organizations, and state and federal government may all be sources of free money. The funds may cover a small portion or the full amount of your tuition, easing your financial burden, in either case.

Free Sources for scholarship and grant information:

• High school guidance counselor
• College financial aid office
• Local library
• U.S. Department of Labor’s search tool
• Federal agencies
• State grant agency

Student Loans and Repayment

Scholarships and grants may not cover the entire amount of your tuition and educational expenses. There’s also the possibility that you were unable to qualify for scholarships or federal loans due to your academic standing, criminal convictions, or non-US citizenship. At this point, you may need to turn to private loans to cover any remaining portion of your expenses.

It is important to repay your loans to remain in good credit standing. Repayment is especially important if you are looking to continue your education – as mentioned above, you can be denied for federal loans if you’ve previously defaulted. Some students choose to consolidate their debts after college in order to have one lower monthly payment. Another good option is to make an ascending list of your debts and begin paying them off in that order. With the snowball, at the start you get the satisfaction and confidence boost from eliminating the small debts, and as time goes on you’ll be better equipped to take out the larger ones.

Preparation is the Key

It’s important to prepare for college. Saving from an early age can be particularly beneficial, but any and all savings can go toward your college education. Grants and scholarships are especially effective in reducing your overall financial obligation, but are not a guarantee, which is where student loans come into play. Make sure you are financially responsible and repay those loans – you do not want to ruin your financial reputation as you are just getting out of the gate.

3 Strategies to Plan Ahead for Student Debt

As of 2012, the average amount of student debt accrued by graduating students reached nearly thirty-thousand dollars.

For these graduating students, debt is a fact of life that they’ll be dealing with for around a decade after leaving their old alma mater.

Student debt can be prohibitive for many students, and the snowballing interest of forbearance makes it a highly unappealing option.

However, there are ways to brace yourself, or avoid payment entirely, by planning ahead when it comes to how to manage student debt before it becomes a problem.

Here are three strategies to consider when a future of student loan payments is just around the corner…

1. Loan Forgiveness or Discharge

Instituted by the U.S. government, loan forgiveness occurs after completing a qualifying program or community service endeavor.

If you’re working as a teacher, doctor, or are involved with the military, there may be a variety of options for you to get a free ride after college to avoid paying student loans.

Many state-based institutions such as teacher associations offer career specific loans which can be forgiven with a certain number of years of service, oftentimes as a means to encourage more professionals to work within the state, for example.

Other organizations, such as the Peace Corps., will often work with its volunteers on forgiveness programs for their service.

However, loan discharge is another type of financial assistance entirely, and possibly the silver lining to an otherwise devastating personal event. While having a relative pass away as an excuse for not completing a paper might be as popular as “my dog ate my homework”, it can have dire financial consequences when it actually happens.

The government recognizes this predicament and is often able to discharge loans when death, or serious disability, impede one’s life too severely to manage repayment.

2. Know Your Options and Best Approach

Depending on your amount of debt and the rates of interest you’re dealing with, there may be preferable options for your situation.

The popular “pay-as-you-earn” repayment plan can make payments significantly lower, but often saddles students with a decade longer of payments than they could have dealt with originally.

Only after carefully measuring each of your options, such as standard, graduated, or other models of payment, should you commit to any course.

While you should ideally stick with the option that results in the least overall sum, be careful to not overextend your finances with the ideal option if it’s not immediately affordable. After all, there’s a reason you needed a loan in the first place!

3. Strategy When You Can’t Afford It

Forbearance can seem generous on the surface, but accruing interest can be crippling in the long term.

It should only be used to keep collections calls at bay and your credit score safe, since allowing interest to accrue alone can be devastating.

Instead of relying on this as your only option for pushing back payments when you can’t makes ends meet, consider reviewing your student loan consolidation options.

Most providers are willing to compete with your current interest rates and help streamline the debt repayment process – especially if you’re dealing with multiple loan providers.

Best of all, this stems the tide of interest that has been gaining against you all the while you were attending college.

While no two financial situations are the same and a piece of cookie cutter advice isn’t always applicable, these methods can be foolproof once you’ve analyzed your personal debt situation and assessed your options.

Managing your student debt wisely – or avoiding student debt entirely – can be the bright start to your life in the “real world.”

Student loan forgiveness has been a hot headline over the last year. The ever increasing mass of student loan debt continues to weigh on the hearts and minds of our college graduates. Today, 7 in 10 college seniors are graduating with student loan debt! While student loans are a necessary tool for some students, they should be used carefully by borrowers.

You may have seen the late night television ads preaching the benefits of student loan forgiveness. Despite what these television ads say, not everyone is eligible for student loan forgiveness. These ads are often being run by unethical telemarketers looking to take advantage of uneducated student loan borrowers. To qualify for student loan forgiveness you must meet certain eligibility requirements for federal programs. Don’t find yourself victim to a student loan forgiveness scams.

The following U.S. Department of Education programs can actually forgive your student loan debt:

1. Public Service Loan Forgiveness (PSLF) Program

The PSLF Program was created to encourage individuals to enter and continue to work full time in public service jobs.

Under the PSLF program, federal student loan borrowers may qualify for forgiveness on the remaining balance of their Direct Loans after they have made 120 qualifying payments on those loans while employed full time by certain public service employers. Qualifying employment is any employment with a federal, state, or local government agency, entity, or organization or a not-for-profit organization that has been designated as tax-exempt by the Internal Revenue Service (IRS) under Section 501(c)(3) of the Internal Revenue Code (IRC).

Private student loans are not eligible for the PSLF program!

2. Total and Permanent Disability (TPD) Discharge

If you find yourself total and permanently disabled you may be eligible to receive federal student loan forgiveness.That being said, you must be able to prove that you are totally and permanently disabled in one of the following three ways:

1. If you are a veteran, you can submit documentation from the U.S. Department of Veterans Affairs (VA) showing that the VA has determined that you are unemployable due to a service-connected disability.
2. If you are receiving Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) benefits, you can submit a Social Security Administration (SSA) notice of award for SSDI or SSI benefits stating that your next scheduled disability review will be within five to seven years from the date of your most recent SSA disability determination.
3. You can submit certification from a physician that you are totally and permanently disabled. Your physician must certify that you are unable to engage in any substantial gainful activity by reason of a medically determinable physical or mental impairment that

3. Death Discharge

If you, the borrower, die, then your federal student loans will be discharged.  If you are a parent PLUS loan borrower, then the loan may be discharged if you die, or if the student on whose behalf you obtained the loan dies.

Depending on the private student loan lender, your loans may or may not be forgiven with death. You should check to see if your private student loans will be discharged at death. You may have seen the headlines where cosigning parents have been stuck paying the student loan debt in place of the primary borrower. Don’t let this happen to you! Check your promissory note for more information.

4. Teacher Loan Forgiveness

If you are a teacher and also a new borrower, and have been teaching full-time in a low-income elementary or secondary school or educational service agency for five consecutive years, you may be able to have as much as $17,500 of your subsidized or unsubsidized loans forgiven.

5. School Closing While Enrolled or Soon After

If your school closes while you’re enrolled or soon after you withdraw, you may be eligible for discharge of your federal student loans.

Be aware, private student loans may not be eligible for forgiveness under this rule.

Student loan forgiveness has been a hot topic and will continue to be a hot topic as long as borrowers struggle with student loan debt. There is no easy way out of student loan debt. That being said, you can improve your student loan situation through a variety of other programs. Income-based-repayment can help you better manage the repayment of your federal student loans. And, if you find yourself paying high interest rates on your student loans, student loan refinance may be a great option to lower your interest rate.

Save on Music Equipment

• Musician’s Friend – Usually the first place I check for a product. Amazing service and low prices.
• Sweetwater – A second source to check for comparison shopping.
• Music123 – An additional source I use for comparison shopping.
• eBay – It’s not uncommon to find brand new products for way cheaper than the above websites.  There are hundreds of small music stores on eBay that can often offer a lower price.

Save on Electronics

• NewEgg – My first stop for computer parts and electronics.  I’ve built several computers and every part came from NewEgg.  I’ve also purchased full computers from here, since they always have great deals on them.
• Tiger Direct – Great for comparison shopping, and they seem to have the best prices on monitors usually.
• Sonic Electronix – The best price for auto electronics.  I saved almost $2000 on the sound system I installed in my car, vs. the price of the local dealer.

Save on Printing

• Create A Shirt – Extremely affordable screen printing for shirts, and you can buy just one! The shirts a re great quality – I have ordered some! They also give away a free shirt of your own design each Friday to the lucky winners.
• 123inkjets – The easiest way to figure out which type of ink your printer requires, and some of the lowest prices on the internet.  I go with the remanufactured cartridges to save even more and the cartridges are as good as new.
• Shutterfly – A great place to go when you want someone else do the printing.  They also send out awesome deals.

Coupons

• Groupon – Anytime you’re traveling, going out to eat or purchasing something, it never hurts to see if there is a Groupon available.  You may be surprised at what they offer deals for.