One of the biggest monthly expenses for most households is their grocery expenses, especially if an entire family is being fed.  Grocery expenses can quickly get out of control, but using some simple tips to control your spending at the grocery store can save you a great deal of money over the course of a year.  Here are some of the easiest ways to cut your grocery bill down to size.

Plan Your Shopping Trip

One of the reasons that many people overspend at the grocery store is that they do not plan before embarking on their shopping trip.  Shopping lists are crucial to control impulse purchases and reduce time wandering around the store trying to remember what you need.  You should also keep an inventory of what you need so you don’t double-up on items, especially perishables that can go bad before you’ve had a chance to use them.  Before heading out to the store, you may want to compare the deals you get at your grocery store with the deals available at other stores, like drug stores or home improvement stores, which may have cheaper prices on items that are also available at the grocery store.

Use Coupons

There are many tricks and creative ways to find and use coupons, which can shave hundreds of dollars off your annual grocery expenditures.  Stacking a store and factory coupon on a sale item can help increase your savings, so check manufacturers’ websites, the Sunday papers, and coupon websites to find coupons for your favorite items.  Some grocery stores also allow you to digitally download coupons from the store’s website onto your loyalty card so don’t forget to scan your loyalty card at checkout.

Buy Non-Perishables And Staple Items In Bulk

Buying some items in bulk can save you a lot of money over the course of a year, even though you may have to pay out more up front to save per item.  Items that can be kept for a significant period of time without spoiling, such as dry beans, rice, and pasta, can be purchased in bulk for the savings and used throughout the rest of the year.  The savings can be even larger if a coupon is used to purchase the bulk items.

Joining a warehouse club can be expensive, so members need to look for additional savings to justify paying the annual fee.  There is a variety of ways to obtain additional savings at a warehouse store, if the consumer knows where to look.  Here are some tips that you can use to increase the amount that you save on your total bill at your local warehouse store.

Warehouse club members can realize significant savings on gasoline purchases.  Warehouse clubs tend to price their fuel at a loss to get shoppers in the store and in most cases, non-members can’t buy it at all.  The average savings for a warehouse club member that lives close to their club is more than $100 on a year of weekly fill-ups.

Warehouse clubs often have better than average prices on electronics as well.  A 55” television model sold at a warehouse store can be as much as $300 cheaper than purchasing the same model at an electronics retailer.  Return policies can be more generous at warehouse clubs, typically allowing returns within 90 days, compared with 30 days at many electronics retailers.

Some warehouse clubs have formed partnerships with banking institutions and other companies to provide their members with better rates on some services.  The offerings of some warehouse stores may include savings accounts with higher than average interest rates, homeowner’s insurance policies, and auto insurance policies.  Before signing up for these services, you should review the costs and conditions associated with the service to ensure you are getting the best deal possible.

Warehouse club members that are planning a trip to the amusement park or movies can often save 30% by buying their tickets ahead of time at the warehouse club.  Having the tickets in hand as you arrive allows you to skip any lines for purchasing tickets at the location.  There are many different ways that savings can be realized at a warehouse club and knowing what they are will help you take advantage of every saving opportunity.

We’ve all done it – stopping into a drugstore to fill a prescription or grab some over the counter medications and walking out of the store with groceries we suddenly realized we needed to pick up.  Drugstores can be very convenient, but we are paying a price for that convenience.  Shopping for groceries, toiletries, and other items at the drugstore is costing us more than we think.

A report issued by Consumer World disclosed that the average prices at the drugstore were more than 36% higher than the prices for the same items at a supermarket chain.  The report was complied from information about 25 common items sold in both supermarkets and drugstores and compared their costs between three drugstores and three supermarkets in Somerville, MA, a suburb of Boston.  The study found that the prices at the most expensive supermarket were at least 17% lower than the prices at the least expensive drugstore.

For example, the price of a canister of Maxwell House coffee cost around $3.50 more at a drugstore than at the supermarket, nearly doubling the price the consumer would pay for the coffee.  A pint of Ben & Jerry’s ice cream was priced $2.30 higher at the drugstore, increasing the price of the ice cream from $3.99 to $6.29.  Other household items, such as toilet tissue, laundry detergent, and cleaning agents, were typically priced $1-$2 higher at drugstores than the price charged for the same items at supermarkets.

Many drugstores have added groceries to their store offerings in the last decade because groceries increase the profits of the store.  These items have very good margins for the drugstores, meaning that they can be sold for a much higher price than the retailer paid for them.  Although the drugstore may have a good sale on some promotional items, purchasing groceries and impulse items from the drugstore will cost you more than you would have spent at the grocery store for the same items.

Online offshore banking is a secure, efficient and convenient way to manage your finances wherever you are in the world.

A basic definition of an offshore bank is a financial institution based outside your country of residence. Offshore banking offers a range of benefits with regards to financial security, business flexibility and access to international investment opportunities.

Offshore bank accounts typically offer account holders anonymity, low tax rates on interest or no taxation at all, easy access to deposits and protection against political and economic instability in your country of residence. Whether you travel frequently or want to protect your assets from inflation, taxation or political unrest, offshore bank accounts allow you to spread your wealth over a diverse range of international investments, funds and currencies.

One of the key benefits of offshore banking is that you have a better chance of maintaining your wealth in the event of another economic downturn. By diversifying your investments in international bonds, funds and/or currencies, your funds will not be affected if the economy in your country of residence slides into crisis.

With advances in technology, you can access offshore bank accounts online. You can access account balances, transfer funds to other accounts, pay bills, set up direct debits or standing orders and order statements or tax certificates. You can make transactions with offshore bank accounts at any time regardless of business hours or time zones. As long as you have a laptop and internet access, you can manage your account at any time of day or night from anywhere in the world. Secure Socket Layering (SSL) encryption ensures that your offshore banking transactions are secure and confidential.

You can choose offshore bank accounts specifically to save or as your primary bank account. Offshore banks offer current accounts with a debit card, investment products, insurance and loans. In fact, most of the products and services that local banks offer are now available with offshore banking.

Flexibility is another key advantage of offshore banking accounts. You are able to manage your finances in the currency of your choice and make international money transfers online. Offshore banking enables you to operate your account in multiple currencies without incurring losses due to unfavourable exchange rates.

Many offshore banking institutions operate in low tax jurisdiction countries, this means that you are able to earn higher rates of interest on your funds and pay lower tax rates. There is nothing underhanded or illegal about offshore banking in low tax jurisdiction countries. All offshore financial institutions operate within the laws of their country and offer legal tax savings for offshore investors.

Selecting where to invest your money is a decision that should be taken cautiously. Whether you want to invest in gold or bonds, protect your assets from an economic crisis or simply want to diversify your investments, speak to a professional wealth manager about the range of online offshore banking products available.

Insurance companies are rolling out a number of new types of insurance policies to help protect people from a wide range of risks.  Although some of these products provide necessary coverage to protect against catastrophic events, others prey on the fears of the public and provide coverage that may be unnecessary for most people.  Here are some insurance products that many people can do without.

Life Insurance For A Child

Life insurance policies that are specifically designed to insure infants and children are presented to parents as a way to cover burial costs or unpaid medical bills if some horrible illness takes the life of their child before the age of 18.  Premiums for these policies average $213 a year.  Fortunately, only one in 3,000 children perish each year, meaning you will be paying for an insurance product that has very little chance of every being paid out.  It may be better to save money in a separate savings account for the child that can be used for funeral expenses in the event of their death or college expenses when they graduate from high school.

Tuition Protection Insurance

Tuition protection insurance insures parents against lost tuition payments if their child must leave college due to illness, injury, or a limited number of hardships as determined by the insurance policy.  With college tuition reaching thousands of dollars annually, it makes sense that parents would want to recoup that money if their child must leave college for reasons other than academic performance.  This insurance may be unnecessary for most people because many colleges already offer partial refunds of tuition if a student drops out because of a medical condition.

Identity Theft Insurance

With cyber attacks at large companies releasing the personal information of thousands of individuals at a time, many people are beginning to consider identity theft insurance as a way to protect themselves if their personal information is stolen.  Many companies now offer some type of insurance against identity theft, credit-card theft in particular, and some include credit monitoring that will alert you if a new account is opened under your name.  Many people do not need these services from companies that specialize in the insurance because most credit cards have identity-theft protection through the issuing company and cardholders are not responsible for any unauthorized or fraudulent charges on a credit card.

Saving for retirement is difficult so many employers have provided retirement plans to their employees, with the most popular being the 401(k) plan.  A 401(k) plan is a defined-contribution plan, where you make regular contributions into an account that you own and make all of the investment decisions for.  401(k) plans allow people to finance their own retirement and have sole authority over the decisions that will affect their future.

Employer-sponsored 401(k) plans are one of the best places to save for retirement because many employers match your contribution up to a certain amount, giving employees a guaranteed return on their money.  There is also numerous tax benefits associated with these plans, including allowing employees to make their contributions on money that has not yet been taxed, reducing their taxable income by the amount contributed.

Saving in a 401(k) plan is simple.  You decide the amount to contribute, typically 3%-10% of your salary, and the amount to contribute is automatically deducted from your paycheck each pay period.  Contributions are held in your account and are invested in mutual funds chosen for the plan by the company.  Most companies will have a wide selection of different mutual funds to choose from reflecting differing levels of risk and the employee picks which mutual fund to invest the money in their 401(k) account in.

The maximum contribution to a 401(k) plan is $16,500 annually.  Individuals that are 50 or older can contribute an additional $5,500 to their 401(k) plan as a “catch-up contribution.”  The money in your 401(k) account will grow tax-free, but tax penalties will be charged on all withdrawals from the account made before you reach the age of 59 ½.  This penalty fee is generally 10% on top of ordinary income taxes on the money withdrawn.   To avoid the penalties, the money in your 401(k) account should be left alone until you retire.

Retirement plans differ from company to company, but most medium-sized and large companies offer 401(k) plans.  Certain employees of public schools, hospitals, and certain tax-exempt organizations offer their employees 403(b) plans and government employees are offered 457 plans, both of which are very similar to 401(k) plans.  Most companies have phased out their pension plans due the high costs of the plans, so most people need to think about financing their own retirement.

If you’re already doing a 401K, you might plan on adding an IRA to the mix. The Lending Club IRA is a great option. Some are concerned about Lending Club, but there is no Lending Club Scam. Lending Club has a B+ rating from the Better Business Bureau and is regulated by the SEC.

There are far more exciting things to spend your hard earned dollars on than more auto insurance but is a policy that claims to pay for your repairs really all it is cracked up to be?

Keeping an auto on the road can be an expensive job from the monthly installment due on any car loans to the rising cost of gas and various types of insurance that pays out if a collision or accident occurs.

But what some drivers do not realize is that if their auto breaks down without being involved in an incident, despite all the money paid in premiums, it will be up to them to foot the bill from the garage.

A new kind of insurance is now in town and it is one that claims to cover your repair bills, but does this really do everything it claims?

Also known as repair insurance, the policies are unregulated and the depth of cover can vary significantly between states and even providers, so it is more important than ever to wade through the fine print in the documents.

A good repair policy covers both damage caused by broken parts as well as general wear and tear to your vehicle, minus a few minor parts such as windshield wipers and brake pads.

It is possible to buy these two insurance components separately and some policies do not incorporate wear and tear into the coverage so if a policy seems cheap, you will need to double check what it actually pays out on.

For individuals wanting a degree of coverage for the more expensive types of breakdown but are happy to pay the costs of smaller repairs themselves, there is the option to take out a policy that just covers the parts through which oil flows. This would generally include the engine and transmission as well as a couple of other parts, but it also leaves a large segment excluded from the plan.

At the other end of the spectrum, it is also possible to purchase a plan known as ‘bumper to bumper’. This type of coverage quite literally covers everything from bumper to bumper with just a few small exclusions such as faulty radiators.

As there are so many variables, checking the policy carefully before proceeding is absolutely essential to get the coverage you want for your auto.

Like most kinds of insurance, a deductible will apply and this is another factor that may determine how useful the policy is. As always, the higher the deductible, the cheaper the premium, but having a big deductible requires equally big pockets.

It is not just brand new autos that can be covered by this type of insurance; older cars are also eligible providing they have not been driven in excess of 100,000 miles.

However, as the risk increases, so will the premium, meaning drivers owning autos with more miles under their cam belts may find the cost more prohibitive.

Individuals with older cars may find it a good idea to double check the value of the auto before proceeding with the insurance, as an older car, even with low mileage, may not be worth the premium you will pay.

A repair policy is just like having your repayments on your car loans covered. It can offer significant peace of mind and take the worry away of how you would afford the bill if the worst happened.

These types of plans are usually offered from the same insurers that cover your car loans but it is possible to shop around the market to find a competitive price that provides the coverage you want.

Accessing the internet via a home computer or a smartphone can become very expensive very quickly, especially if you do not have an unlimited usage plan through your internet provider.  Many internet providers have tiered pricing plans for internet usage and individuals that go over the limit that they have paid for are hit with high penalty rates.  By limiting your data usage and choosing non-digital entertainment activities, you can save a lot of money and ensure that you do not exceed the limits set by your internet provider.

Track Your Usage

If you do not have an unlimited data plan, your internet provider will provide you with a way of tracking your consumption that you can access at will.  By checking the amount used on a regular basis, you will know how much of your limit is left and can reduce usage when you are getting close to the limit.  Reviewing your usage regularly will also ensure that you are not surprised by a high bill because you unwittingly went over your usage limit.

Limit Video Watching

Video files are the largest bandwidth users accessed by most individuals.  A high definition video that is an hour long may use as much as 2.3GB of your available limit. Some internet sites include video ads that start playing immediately when the webpage is opened. As a result, a number of browsers allow you to temporarily block Flash content and videos from playing without permission.  Restricting your video watching (such as reading news reports instead of watching the accompanying video) can save you a lot of bandwidth usage and save you money as well.

Reduce Online Backups

Backing up important files on your computer is a good idea, but backing up everything on your computer frequently can get expensive.  Backups that include lots of pictures and/or videos will be very large and will eat up a significant amount of your available limit.  Being selective about which files are backed up can reduce your load on the system and allow you to use the internet more for things that interest you.

Pensioners are the latest group struggling to make ends meet, as incomes have fallen and savings continue to drop.

The state of the economy has taken its toll on the UK’s over 55s as they find it difficult to cope with the rising cost of living and the high financial strains put on them.

According to Aviva’s latest Real Retirement Report, the typical monthly income for the UK’s over 55s has fallen to £1,216 for September 2011 compared to £1,294 in June.

This is the lowest monthly income since February 2010, when the over 55s had £1,250 to spend.

The over 75s have the least amount of monthly income; according to the report the average income per month is just under £1,000 at £999.  However, the research also found that almost a quarter of over 55s now survive on less than £750 a month.

Clive Bolton, ‘at retirement’ director at Aviva said; “The over-55s have seen their finances deteriorate over the last quarter as people struggle to keep up with the rising cost of living on a relatively fixed income. That almost a quarter of this age group have less than £500 in savings and 40% save nothing each month is a clear indication that this age group is struggling financially.”

“While there is a limited amount that the long-term retired can do to improve their finances, these figures highlight the importance of a lifetime approach to retirement planning.”

The report also found that 40% of 55-64 year olds have unsecured debt in credit cards and a further 21% of them are in debt with personal loans.

Those who wish to live comfortably in retirement should seek out debt management solutions, at least to ensure that their retirement is debt free.

Debt solutions

Excluding mortgage debt, those aged over 55 who are in debt owe an average of £20,001, which has increased from £17,112 since May 2001.  This is a significant increase and now many of them face a winter of fuel poverty due to the rising cost of energy bills, because they simply cannot afford to heat their homes.

The total debt of those with mortgages and other personal debt is £73,994.

The average amount owed on a credit card is £3,017 (Sep 2011) which has increased since June 2011 (£2,973).

Women over 55 have been found to accumulate more debt than men which is a cause for concern as they tend to have significantly lower incomes.

The report found that 6% of women are worried about keeping up with their debt repayments over the next six months, compared to 4% of men.

By seeking out debt advice you could manage your debt problems, lessening the financial burden of retirement.

A huge misconception exists out there that only the upper-class can afford to enjoy seasonal, organic, local and ethical foods the majority of the time. Most people also think that these foods are only available in large metropolitan areas. They also think shopping for them takes more time. Although shopping for sustainable food can never be quite as easy as clicking on the internet for prepaid cell phone providers, there are so many resources and websites that offer tips to find cost-effective, sustainable foods.

People also have the misconception that purchasing sustainable foods means buying local and organic produce. But in actuality, you can find sustainable choices across all food segments, from pasta and cereal to grass fed beef and nuts and dried foods without chemicals. In general purchasing sustainable foods means finding the most natural foods that use the least amount of resources. These foods generally result in less harm to the environment.

It is here that you will find eight simple ways to spend less enjoying sustainable foods:

1. Eliminate processed foods from the diet: Although most people believe that processed foods cost much less than fresh, natural foods, they are quite wrong. When purchasing processed foods, more of your purchased dollars are going towards the food’s packaging than nutrition. Eating fresh foods might appear more expensive initially, but when you analyze what you are really getting, you come to find out otherwise. Fresh foods supply many more nutrients per weight. These foods are therefore much more nutrient dense, which means you are getting more nutrients per dollar spent. The best way to avoid purchasing processed foods is to shop the perimeters of the grocery stores and stay away from the aisles.

2. Eat what is in season and on sale: Always shop several grocery stores, farmers markets, or small local shops to find what’s in season at the best prices. Try to pick the fruits and vegetables instead of prepackaged selections that charge for the packaging and are not near as fresh. Often when a food is prepackaged, one fruit or vegetable will spoil and cause a ripple effect through the entire package. It’s a great idea to consult local farmers and compare prices with the bigger venues. Usually what is in season will be on sales. For example, apples in fall.

3. Prepare your favorite prepackaged foods: Most bakery items that you will find in the aisles can be prepared naturally from home. These items include waffles, granola bars, and pop-tart pastries. Preparing the times from home takes a lot of preparation, but is so cost-effective.

4. Buy in bulk: When it comes to staples like beans, rice, potatoes, and pasta, look for products that are at least made in the U.S.A. These are great products to purchase from bigger retails and shopper clubs.

5. Plant an herb garden inside: Planting an herb garden is a great way to use local products that you know what you are getting. Herbs are so expensive in stores, especially the fresh ones. They tend to spoil very quickly and come in such small quantities. Make sure that you choose a south or west window, plant annual herbs, and only mist them with water.

6. Eat out less: By eating at home the majority of the time, you save money on gas, other commuting, costs, and time scrutinizing the menu.

7. Eat less meat: If you are going to eat meat look for meet with less packaging and buy in bulk to reduce packaging to begin with. Try to stick with grass-fed and organic meat. Also, ask your local butcher to wrap the meat in paper versus plastic.

8. Buy select organic produce: As various websites indicate, try to only purchase organic items, where pesticides, herbicides, and insecticides can get through to the consumer. These include items like carrots, peas, and raspberries. The Environmental Working Group did identity fifteen items, where chemical exposure is minimal due to thick skins like sweet potatoes, onions, and watermelons. These are some of the items you can save money on by purchasing conventional variations.

The key is to not let these tips from overwhelming you. Most people would find it easier to slowly incorporate one or two of these tips at a time, until sustainable living becomes a natural part of one’s life. Sustainable living is not about eating tasteless foods, but enjoying foods that are good for the body and the environment.