Well duh! That sounds simple, right? Well to most people is seems logical that to save more money you need to spend less money but how many people can honestly say they don’t get suckered even a little bit when they go to the store. With the promotional deals, the two-for-one specials, and the other ploys marketing geniuses play on us consumers, it is nearly impossible to get out of the store without a few extras.

But nearly impossible does not necessarily mean totally impossibly. It is up to you to change your spending habits. In order to do that, consumers must change their minds and their actions when they get into the store if they hope to save any money.

Think Hard About the Big Stuff
When we spend a large sum of money on a big-ticket purchase or for an event we have to pay a lot of money for, such as a vacation, it would seem logical that we would do all we could to get the most out of our money much like when we go to the grocery store. But statistics show that most consumers do not carefully plan out their road trips as carefully as we should. Many consumers will spend a considerable part of their total annual income on their vacation so it makes sense that you should dedicate at least a portion of your pre-planning time looking for bargains all the way around, from the cheapest gas prices along the way to the best price for airline tickets. Any big ticket item should not be taken at face value just out of excitement and there will be a bargain somewhere, provided you hunt for it. The big purchases that only happen from time to time count just as much as the more common shopping expenses.

Sharpen Your Comparison Shopping Skills
It takes a lot of focus to find the best prices for the merchandise you are looking to buy. You need to look at different levels of the product, find what features you need and calculate the average range of price. Then you need to get focused solely on those features and that price range and forget the alternatives. If you do not apply this focus, you will likely be swayed and opt to buy the more expensive option.

Forget Where the Money Comes From
When you are dealing with the money you earn from hard work, you are more likely to be careful with every dollar spent. When you come into money outside the realm of your payroll check, such as lottery winnings, gifts, or tax refunds, consumers have the tendency to spend more freely. The next time you incur a windfall of cash, no matter how big or small, deposit it into your bank account and let it sit for a time and work to “forget” where it came from. Readjusting your accounting mind, you may be better able to control your impulse spending that is typical with “free” money. It also helps to get into the habit of spending money before you even have it. How many people have you heard discuss taking their next vacation with their tax returns or fixing up the house with grandma’s inheritance? Instead of spending in your mind, commit to depositing the money into your account and plan out your next big purchase as if you never got the lump sum of cash but rather needed to continue on a savings plan for your next vacation or new living room furniture.

The best way to save money on car insurance is to not have to pay any at all which is only an option if you live in a major metropolitan area where owning a car is not a necessity. If you do not have access to mass public transportation then you likely have a car and with a car comes the responsiblilty of car insurance. It is very easy to have a car insurance policy in place and then forget about it. Perhaps it is time to expend some mental energy and take a look at your car insurance policy to ensure you are not paying too much. Keep in mind that before you make adjustments to your current car insurance policy you should research your states minimum insurance requirements.

• Drop coverage you don’t need. If you bought a new car…several years ago, consider dropping collision or comprehensive coverage on your vehicle. When financing a new car there are certain insurance requirements that you need to maintain and in many cases we forget about the policy coverage and continue paying higher premiums long after it is necessary. Assess your car’s current value and adjust your policy accordingly.

• Own a lower-risk vehicle. Certain vehicles attract thieves, are more expensive to repair or sport less than great safety records. If you own one of these models you will pay a higher premium. Before purchasing a new vehicle consider researching the model’s risk levels to ensure you are not setting yourself up for higher insurance payments.

• Request a higher deductible. If you are looking to lower your insurance bill, raise your deductible. If you are in an accident the amount of money that comes out of your pocket before the insurance kicks in will increase; in return your will pay less per year for car insurance.

• Research available discounts. Look into discounts available for teen drivers who are insured under their parents policy. If your teen maintains good grades and passes an educational driving course they may qualify for reduced rates. You may also find discounts available for more experienced drivers if they are older than 50 or 55, retired, been accident free for three years or even as a reward for being a longtime customer.

• Combine policies. If you have more than one vehicle, own trailers or recreational vehicles or have a homeowners or life insurance policy you may qualify for reduced rates by having all of your insurance through one company.

• Carpool or limit your driving. You may qualify for a reduced rate if you drive less than the “average” number of miles per year. Contact your insurance carrier to see if you limited mileage will reduce your premiums.

If you’re one of the fortunate people to have overpaid your taxes this year and are expecting a decent sized chunk of cash back – instead of spending it on something you’ll forget you have in a couple weeks, why not make plans to do something better with the money?

People regularly receive “unexpected money” throughout their lifetimes, but because most of us fail to plan for these windfalls, we don’t utilize them effectively. Think about it – if you get a rebate in the mail, what do you do with it? If someone sends you money for your birthday or other celebration, where does it go? Most of us deposit the money into our every bank accounts and the money is quickly absorbed into our spending and when it’s gone – we can’t even pinpoint what the money paid for.

As you’re filing your income taxes, if you discover you’re going to be getting money back – take some time to think about what you will do with that refund. You can use the money toward something that will help your financial future, rather than using it on items and expenses you won’t even remember you paid for in a week much less several years into the future!

Pay off high interest debts: if you’re carrying high interest credit cards or personal loans, it might be worthwhile to use your tax refund to get rid of those debts. Depending on how great your debts are and how much of a refund you’re getting back – if you can pay them off you could then apply the amount you USED to pay in monthly payments to a savings account or other investment and make better use of that money each month.

Save for retirement: if you have an IRA already, deposit the money into your retirement account. If you don’t have an IRA, consider using the money to start one. If you qualify for a tax-deductible IRA, you can make the contribution before April 15^th and claim it on your current tax return; or use it toward next year’s tax return as a deduction.

Look into CDs, Money Markets or U.S. Savings Bonds: There are many options for investing the money. Certificate of deposits, money market deposit accounts and U.S. savings bonds are all guaranteed savings vehicles – which means you aren’t at risk for losing your contribution. Let the money grow for awhile and maximize the returns you get on the money.

Whatever you decide to do with your tax refund, make sure you make a conscious decision for the money rather than just depositing it into your checking account. Before you make up your mind what to do with it, chances are it’d be long gone!

For new customer’s opening a free checking account and meeting a direct deposit requirement through Metropolitan National Bank, a bonus of $200 will be added to your account. The bank is nationwide, which means you can open an account from any state using their online application. People who have applied reported they require a copy of your driver’s license and a utility bill or other evidence of your name and address.

In order to qualify for the $200 bonus, you must open a free checking account and set up a direct deposit that is at least $500 per pay period. The direct deposit must be from a payroll check, government benefits or pension disbursements, and must be the full amount of the pay. About 30 days after you open the account with the qualifying direct deposit, the $200 bonus will be credited to your account. In order to keep the bonus money, you have to keep your account and direct deposits for at least six months – or you will owe the bank the $200 back. (They will remove from your account – and if there is not enough money in the account, they’ll send you a bill). In addition, the $200 bonus is reported to the IRS on form 1099-int and is treated as an interest payment.

The bank will perform a hard credit pull of your credit report when you apply to open the account, which could potentially lower your credit score if you’ve had numerous credit checks recently.

The free checking account lives up to it’s name and provides free service with no monthly fees or minimum balance requirement to maintain. Online bill pay is offered for free to account holders. As an added bonus, Metropolitan National Bank refunds foreign ATM fees when you use the Visa check card.

If you prefer an interest checking account, maintain a minimum balance as required by Metropolitan National Bank and your account will accrue interest without transaction limits that many other banks impose on interest checking accounts.

The bank is located in New York City and has been FDIC insured since 1999. It offers other banking products, including a business money market account with 2.25% APY, and Certificate of Deposits that can be opened online with rates of 2.85% APY on 12 month CDs and 3.00% APY on 18 month CDs.

When you think of H&R Block, chances are you think of the company that will do your taxes – but they’re also a bank that offers interest checking accounts, money market accounts, CDs and IRAs. H&R Block bank has been FDIC insured since 2006. It’s considered a small bank, with $1.06 billion in assets according to the FDIC database as of 9/30/08, $746 million in total deposits and 51 employees. The bank is operated out of a Kansas City, Missouri office.
The rates on 24 and 36 month certificate of deposits are competitive, with 3.50% APY on the 24-month CD and 4.00% APY on the 36-month CD. All certificate of deposits at H&R Block bank require a $250 minimum deposit. The rates on other certificate of deposit products according to the H&R Block bank rate table on 1/25/09 are as follows:

• 2.50% 3-month
• 2.85% 6-month
• 3.25% 12-month
• 2.75% 18-month
• 3.50% 24-month
• 4.00% 36-month
• 3.50% 48-month
• 4.25% 60-month

When investing in CD’s at H&R Block bank, there is an early withdrawal penalty equal to 90 days of interest earned. You can choose how you want the interest earned on your CD to be paid – either monthly, quarterly or when the CD reaches maturity. When the certificate of deposit matures, you have a 10 day grace period during which you can remove your money or reinvest in another CD.

The same rates apply to IRAs.

You can open your accounts with H&R Block bank through an online application, and fund the account using ACH bank to bank transfers.

In addition to certificate of deposits and IRAs, H&R Block bank offers reasonably competitive rates on interest checking and money market accounts. Both types of savings feature tiered rates, with higher interest given to higher balances. A money market account yields between 2% APY for a balance of $1,000; and 3.25% APY for a balance of $50,000. Interest checking account yields range between 1.25% APY for balances above $500 and 2.25% APY for $50,000 balances.

In 2007, H&R bank had a subprime mortgage servicing division, but they sold it in May of 2008. According to Bankrate.com’s rating, H&R Block bank received 3 stars, which is the “performing” level; while BauerFinancial gave the bank 2 stars, and considered it problematic, based on September 2008 financial data.

As technologies and product lines first become available, there is always a frenzy of consumer interest. Unfortunately, during the launch of a new product, there is also a little thing some consumers just can not get passed – and that is the price tag. But rest assured, some of the most popular items on the shelves right now have gone down in price considerably in the last ten years, sometimes by as much as 80% or more.

Check out what merchandise may not be within your price range.

The Price of Toys
In the last 10 years, toys have dropped in price by over 40%. With as much hyped marketing that is backing toys, it is good to know that you may now be able to afford some of today’s most popular toys. There is one word of caution however, some of the toys have been outsourced to other countries and with that some of the quality has been compromised. As long as you are a smart shopper and will pay attention to what you are buying, you should be able to find some great deals to keep the little ones happy.

The Price of Electronics
The price of electronics have gone down nearly across the board: computers (down more than 80%), televisions (down more than 75%) and audio and visual equipment (down between 20-40%). Over the last 10 years, technology has allowed for manufacturers to improve the way things are made and enabled the prices to drop pretty dramatically for better technology. Competition has also made this price drop possible. It will always be worth your while to do your research and compare the prices of electronics before you hit the stores.

The Price of Phones
Ten years ago, cellular phones and service were still new things. In the last decade, the price of services has dropped over 30%. The advent of new technologies for cellular phones and services, as well as the services for land line phones has enable prices to drop. There is also a large amount of competition between phone manufacturers and phone service providers. Shopping for the best deal for your can really help you save even more money. While some phone brands are still ridiculously expensive, the overall prices of some pretty cool phones are now more affordable than ever before.

The Price of Clothing and Shoes
Interestingly, in the past it was the “clothes that made the man” but now technology has almost replaced that old adage. Clothing prices have dropped over 10% in the last few years and it no longer costs ridiculous amounts of money to keep your growing kids in clothes or for you to be able to afford a wardrobe of work clothes. Shoes have also gone down in price by almost 4% thanks in large part to the growing crop of discount outlets that help reduce the price to consumers.

The Price of Vehicles
While not many people are buying cars right now, the overall price of vehicles has dropped over the years while the technologies have certainly improved. Ten years ago, the price you would pay for a vehicle with existing technologies would be much more expensive in comparison to how vehicle manufacturers are building today with better technologies and lower prices.

Want to get money into an interest-bearing account to take advantage of compounding interest, but don’t have any extra to get started?  Here are 8 tips for starting your savings by reducing your expenses in easy ways that anyone can do – starting immediately:

1)  Run your highest electricity-consuming appliances at night, instead of during the day and save around 40% on your electric bill.  The dishwasher, electric dryer, washing machine, etc – save money by using them later in the evenings when the rates are lower.  If you’re typically spending $200 a month on your electric bill, a 40% reduction will drop that bill to $120.  Put the extra $80 aside for your savings.

2) Raise your car insurance deductibles.  If you’ve got them set at $250, raise them to $500.  If they’re already at $500, raise them to $1,000.  The result will be a lower monthly insurance premium.  Take the difference in premium rates and set aside for your savings.  (You can drop the deductibles again after you get your money into your savings of choice – a Certificate of Deposit, Money Market, online savings, etc).

3) Reduce your prescription payments.  If you have a few prescriptions you pay for each month, you may be able to reduce the amount you pay by asking for 3 months at a time instead of one; using a mail-order service instead of the local pharmacy; or by going to Wal-mart for their $4 prescription plans.  Take the amount you would have paid on your regular priced prescriptions and set aside for your savings for a few months.

4) Skip one vacation a year.  If you go on vacation at least once per year, consider skipping just one vacation and putting the money you WOULD have spent on it into your savings fund.  You can still take time off from work and spend it around home if you have to use your vacation time (or lose it), but there is no rule that says you have to go on a costly vacation just because you take time off from work.  If the idea of skipping a vacation completely is too much to bear, just opt for a shorter, less expensive vacation over one that would cost more and save the difference.

5) Learn to buy and cook in bulk.  Most products are cheaper when you buy them in bulk (and while on sale!)  Learning to buy and cook in bulk can save you a lot of money on your monthly food bill.  Set the savings aside for a month or two.  You can always go back to your normal eating habits after you get enough money to fund your savings – or you may discover you enjoy this method of eating!

The internet has changed the way many of us handle our daily errands. You can bank, pay your bills and order movies online. Additionally many people are foregoing the traditional trips to the mall in place of shopping online. The convenience of one stop shopping (from the comfort of your home) and the added value of comparison shopping can save people a lot of money. Unfortunately you don’t always make out with a great deal when you check out your shopping cart and see the shipping fees associated with your order. Here are a few ways to save a few bucks on shipping charges.

Become a member.

It pays to become a member of websites that offer year round shipping at one price. Both Amazon and Sears offer subscription memberships that come with free shipping. If you receive many shipments per year this one time annual fee can quickly pay for itself.

Check minimum-order requirements.

Many sites offer free shipping once you have met a minimum purchase amount. If you are close to reaching the minimum order amount you may actually save money by purchasing a filler item that will get you to that amount instead of paying for shipping.

Use your store card.

Certain retailers offer free shipping to people paying with their store account card. Keep in mind that most retail account credit cards have higher interest rates, so keep your budget in mind when shopping online. It doesn’t help to save a few bucks for shipping if you end up exceeding your budget and paying interest on the items.

Compare numbers.

Padding the price of an item is not a new concept for retailers. Online shopping is no different, you may think you are getting a deal with free shipping only to find that the item you are buying is cheaper somewhere else. The beauty of the internet is the ability to comparison shop to see if you really are getting the best deal available.

Look for free shipping codes.

Many people clip coupons or read a local flier before heading out to do some shopping. You can do the same online; do your homework before checking out online by visiting a site like FreeShipping.org to look for promotional codes that can save you money on purchases as well as shipping.

An important tip to remember when shopping online is to stick to a budget. It can become far to easy to fill a “virtual” cart which can lead to spending more instead of spending less.

If you ever purchased an annuity, you got yourself into a situation that’s very difficult to get out of. There are often major fees involved if you ever want to take your money out of an annuity, so you’re almost stuck there. It might have seemed like a good idea at the time, but now it seems you have fewer options in the event that you need to liquiditate your money.

Fortunately, there are now options for people stuck in this situation. There are companies that will allow you to sell annuities that you might have. They will take a look at the agreement you have with the company or individual that is paying you the annuity and then offer you a lump sum quote for how much money they will give you to Sell Annuities that you might have. The company that bought your annuity will then take ownership and start receiving the payments that you would have had.

Quite often the companies that will allow you to SELL ANNUITIES will take about a 7% or 8% discount rate on your money. This means that their calculations relating to the value of getting your money now versus over a period of time (ie, the interest you would be able to earn on that money that you have now), at about 7% or 8%. This isn’t too unreasonable, but you definitely want to shop around if you plan on trying to sell an annuity or other structured setttlement.

Be very careful though, you don’t want to sell a annuity as a bandaid solution to a much larger problem. If you don’t have any money to begin with and you aren’t making any money, one lump sum of money will only delay your problems, not fix them. Ask yourself if you will be in the same situation, just delayed by a few months or a year, after receiving the lump sum of money that you might get initially.

Nationally available, the Wise-Choice Checking account through Venture Bank Direct is an internet banking option with reward checking. The APY is 3.5% up to balances of $25,000, with balances greater than $25,000 earning 1% interest. In order to get this interest rate, you must meet three typical requirements of reward checking accounts. Venture Bank Direct reward checking account monthly requirements include the following:

1) You must use your VISA check card to make 10 purchases each month

2) Have a minimum of one direct deposit or automatic debit

3) Receive e-Statements rather than print statements.

This means you must be in the habit of using your Venture Bank Reward Checking regularly throughout the month in order to meet the 10 purchase requirement – and you will not be able to simply use the account as a save-it and forget-it option since if you simply make a direct deposit each month to the account but forget to use your VISA check card, you’ll miss out on the whole point of having a Venture Bank Reward Checking Account because the interest rate falls from 3.5% to a measly .25%!

Opening a Venture Bank Reward Checking Account requires a small minimum deposit of $100, but there are no minimum balance requirements to maintain or monthly account fees. You do not receive your checks for free – but you are not required to get your checks through Venture Bank if you want to shop around for lower cost options.

When you apply for Venture Bank Reward Checking, you will automatically open a Wise-Choice Savings Account as well (if you don’t already have one). This works out well, as you can only initiate ACH transfers through the savings account, and not the reward checking account and as there are no monthly fees for either account, you can benefit from having both.

In addition to earning interest on your checking account balance, the Venture Bank Reward Checking gives you free bill pay, free online banking, free e-Statements and any national ATM fees are refunded as long as you maintain the requirements listed above for receiving the 3.5% interest rate. The bank is FDIC insured.

It may be worth mentioning that Venture Bank has a troubled rating through both BauerFinancial and Bankrate due to it’s financial ’soundness’ based on September 30, 2008 data. In March, the bank had a 3.5 star rating with BauerFinancial and 2 stars with Bankrate, so it seems the bank could be facing some difficult times due to their loss in investments with Freddie Mac and Fannie Mae.