Six Ways I’m Saving Money

1. Shop for the best insurance rates. I was amazed to discover that I have not been getting all of the discounts that were available to me on my homeowners and car insurance. Many of us have had the same insurance carrier for many years and don’t think to revisit our coverage and comparison shop. I mentioned earlier that we were in the market for a new car. This prompted me to do some comparison shopping and I discovered two things: I wasn’t getting all the discounts I was entitled to with my existing carrier (10% discount as a college alumni) and my current carrier wasn’t as competitive as some of the other companies out there. Be sure you are getting all discounts you’re entitled to and comparison shop every few years to make sure your carrier’s rates are still competitive.

 2. Compare electrical suppliers. Did you know that you can choose your own supplier?  I saw representatives from Public Power & Utility talking about their company on TV and decided to look into it.  Because of deregulation, PP&U is able to provide energy at a lower cost than traditional providers.  They service all of Connecticut except Wallingford and Groton.  Much to my surprise, it was a cheaper alternative to my current supplier. Visit their website for more information at www.ppandu.com.   Note: This is NOT a paid advertisement for Public Power & Utility.

3. Visit your local consignment shop. Consignment shops are great for two reasons. You can put together a new outfit to add to your wardrobe for a fraction of the cost of buying new and you can actually make money on the items you aren’t using anymore. Generally, you will bring your items in and the store will accept what they consider to be in good shape and within the current style trends. Check back with the store periodically to see if any of your items have sold and they will give you cash or credit (typically a 60/40 split of sales price).

4. Use coupons. Many of us use the excuse that we are too busy to take the time to go through the Sunday circular. There are now many websites and blogs aavailable tht do the work for you. Try visiting mommysnacks.net or consumerqueen.com.

5. Borrow/Trade with friends. I can’t tell you how many baby items I’ve borrowed, loaned or given to friends and family over the past few years. I kid you not…one friend of mine has loaned out her universal car seat stroller to four different people including twice to me! Items that are in use for short periods or used infrequently are great for sharing.

 6. Take advantage of child care and health care spending accounts. If you or your spouse have this benefit available through your employer absolutely participate in the program. So many people don’t take advantage of these accounts for fair they won’t use all of it before the end of the year. Just budget your expenses on the low side the first year and get a sense of what works for your family.