Extreme Savers
Share Their Secrets
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"Uber Savers" Tell All
These days, as the cost of food and gas skyrockets, credit becomes more difficult to get and consumer confidence reaches an all-time low, saving has become a must.
At a time like this, it makes sense then to tap into the experience of people who are passionate about saving without living a Spartan life.
Click through our gallery to learn the creative and successful ways they stretch a dollar.
Next: Save on RetailMore from Bankrate.com:
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Track Sale Prices
Michele Carter, a CPA and mother of two in Barrington, N.H., is a hawk about tracking sales prices on her purchases and asking retailers for the savings. For example, Carter keeps her Christmas gift receipts and, after the holiday, checks to see if retailers have slashed prices on any of the gifts she's already plunked under the tree. Then she calls the merchant and, without returning the item, asks the store to refund the difference between her cost and the new sales price. She then gives the difference to the gift recipient.
Next: Price MatchMore from Bankrate.com:
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Rick Bowmer, AP
Make Sure to Price Match
Claim the price guarantees offered by stores (like Lowe's and Home Depot): If you find the same product for less elsewhere, you get the item for 10 percent off the lowest price. Keeping an eye on these promotions paid off recently when Michele Carter bought a new refrigerator. After she saw an ad for the same refrigerator at a competitor's store, she netted close to $100 in savings with a single phone call.
Next: Swap Books & CDsMore from Bankrate.com:
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Paperbackswap.com
Swap Books & CDs
Paperbackswap.com, a site on which members can trade paperback and hardcover books for the cost of postage, and Daedalus, a discount book catalog that Martha Anderson says offers "really nice gifts for less than $4." You can also swap CDs on SwapaCD.com and DVDs at recently launched SwapaDVD.com.
A savings cushion can keep you from falling back into the deficit-spending cycle. After paying your minimums, put half of any extra money into savings and half into paying down debt.
Next: Freecycle FindsMore from Bankrate.com:
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Freecycle.org
Be a "Freecycler"
Freecycle.org, a membership organization with thousands of local chapters, helps people give away unwanted goods, such as brand-new baby clothes, computers and furniture, to other "freecyclers" so that it won't end up in landfills. Most of the time, it's not worn-out Salvation Army merchandise. Not long ago, the Boston chapter featured an entire Ethan Allen living room set free for the taking. You can "ask" for something specific, and often, you'll get it.
Next: Try CraigslistMore from Bankrate.com:
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Craigslist.org
Try Craigslist Classifieds
Not surprisingly, uber savers are also crazy about Craigslist.org. Chris Grande, a financial planner and managing partner of Heritage Financial Group in Medford, Mass. bought a $5,000 leather living room set for only $200 when he noticed the classified ad on his local Craigslist site.
Next: Save on GroceriesMore from Bankrate.com:
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Keith Srakocic, AP
Buy Local
Produce, meat, poultry and eggs grown nearby have always been better for the environment. Now, because of high fuel prices, buying local is also the smartest way to shop. Purchase produce in season and frequent farmer's markets, where you'll find the best deals on the freshest fruits and vegetables. Invest in a freezer, if you have the space, and buy your meat locally as well. Mike Hegarty, a CPA in Des Moines, Iowa, says he saves $500 a year on meat by purchasing whole animals from local farms.
Next: Join a Co-OpMore from Bankrate.com:
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Keith Srakocic, AP
Join a Co-Op
If you're really devoted to cutting your grocery bill, try buying through a co-op. To do this, you'll need to form a "buying club" with friends and neighbors; forming a group will allow you to order food at wholesale prices from co-op distributors. You'll need to put in some effort, says Erin Fallon, a Strafford, N.H., housewife. One group member gathers orders and collects money; then the women meet at another member's home to divvy up food once a month. The effort is well worth it, though. Fallon says she saves $300 to $500 a month.
Next: Cut Car CostsMore From Bankrate.com:
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Best Way to Negotiate
When negotating for car with dealer, have someone unemotionally invested in the purchase do the negotating.
When Michele Carter fell in love with a 2006 Saab last year, she could see that the dealer wouldn't reduce the price for her "because they could see that I was sold on the vehicle." So she turned to her husband Richard for help. He talked the dealer into reducing the price of the extended warranty by $1,000 and persuaded him to throw in Bluetooth for free. Carter was thrilled with her new car -- and the price.
Next: Cheapest FinancingMore From Bankrate.com:
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Cheapest Way to Finance?
A ream of information exists on how to get the best price on a new car. But what's the cheapest way to finance it? Wellesley, Mass., financial planner Steve Doucette advises that you figure out which car you want and wait for the manufacturer's year-end zero percent financing deals.
Next: Consider Auto AuctionsMore From Bankrate.com:
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Consider Auto Auctions
There are two kinds -- government-run auctions open to the public and dealer auctions, where used-car dealers get many of the cars they sell on the lot. Financial planner Chris Grande admires a friend who bought a used Mercedes at a dealer auction, saving at least $4,000 in the process. In order to get access to dealer auctions, you'll need to go with a friend who has a dealer license and is willing to do a favor for you. In addition to actual car dealers, tow-truck companies, auto body shops and others also have dealer licenses, Grande says.
Next: Proactive GivingMore From Bankrate.com:
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Proactive Giving
Tired of reactively contributing in response to mailed solicitations, Sarah Auerbach, a stay-at-home mother in Acton, Mass. says they visited her accountant for advice on how much to give annually. They listed several favorite causes and assigned weights to each -- 15% for women's rights, 10% each to several local hunger-fighting organizations, and so on. Then they figured out how much money they'd be giving to each of eight or 10 nonprofits. To spread out the expense, they designated payments to one or two charities monthly.
Next: Housing TipsMore From Bankrate.com:
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Location, Location, Location
Save by where you live. Hegarty, the Des Moines CPA, and his family, chose to buy a $150,000 farmhouse some miles outside of the suburbs rather than living in "$250,000 to $350,000 yuppie neighborhoods with my friends," Hegarty says. "That saves us $1,500 a year in (property) taxes and $6,500 a year in mortgage interest."
Next: "Slug" to WorkMore From Bankrate.com:
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Pablo Martinez Monsivais, AP
Hitchhike to Work (Legally)
By far the most ingenious strategy for saving on gas and auto costs comes from Dean Frisoli, who "slugs" to work. Slugging is a form of legal hitchhiking available to commuters outside of Washington, D.C. In order to take the faster high-occupancy vehicle, or HOV, lane to work, a car must carry two passengers. At designated parking lots, so-called "sluggers" line up to catch free rides from drivers eager to use the HOV lane. In the year since he started slugging, Frisoli, a former train commuter has saved more than $2,000.
Next: Park With Pretax $$More From Bankrate.com:
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Park With Pretax Dollars
Chetan Shah, a vice president at Bank of America in Charlotte, N.C., advocates paying for parking with pretax dollars. Tax law does permit this." Most of us ... have to pay either for parking or a monthly bus or train pass," he writes. "You can pay it pretax by asking the company you work for to deduct it directly from your paycheck."
Next: Cut Phone CostsMore From Bankrate.com:
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Mark Lennihan, AP
Cut Your Phone Costs
Skype is an Internet-based phone system that lets computer users make calls for free or for only a few dollars a month. You don't need an actual phone -- just a computer and, if you wish, a headset, which costs about $20 at Radio Shack or Best Buy. Download Skype for free, and you can "call" other Skype users for nothing. Pay $3 a month and you can make unlimited calls to land line and cell phone users. Grande started using it last year and says now his office pays only the minimum local charge for having a land line -- less than $30 a month.
Next: Lower Energy BillsMore From Bankrate.com:
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Paul Vernon, AP
Conserve Energy to Save
Get an energy audit, says Larry Chretien, executive director of Mass Energy Consumers Alliance. In many states, electric and gas utilities offer energy audits at no charge, and some will even help homeowners pay for their recommended changes. When this reporter had her home audited, Public Service of New Hampshire paid $2,000, or more than two-thirds of the total cost of energy-saving improvements, like insulating and installing programmable thermostats. Call your electric or gas company or search their Web sites for energy auditing programs.
Next: Travel RewardsMore From Bankrate.com:
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Hoard Travel Rewards
Lynn Tostado and her husband hoard credit card rewards points. Their strategy? Never, ever use cash when you can use a credit card. They win multiple free flights a year by paying virtually all of their bills -- including groceries, utilities and their mortgage -- with a Southwest Airlines card. They even buy Dunkin' Donuts gift cards on credit and use them to buy their morning coffee rather than "wasting" a couple of dollars' worth of points every day. The couple sets aside an hour a week to pay bills together and always pays the full credit card balance.
Next: Split the TripMore From Bankrate.com:
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Split the Trip
Steve Doucette and his family can afford posh vacations, but sometimes the tab is just too high. When their traditional vacation choice, a Beaches resort, priced out at $8,000 to $12,000, the Doucettes decided to share their vacation. They and some friends rented a beachfront Jamaican villa, complete with chef and bartender, and spent less than $5,000 for the week.
Next: Overseas Travel TipsMore From Bankrate.com:
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Cheapest Overseas Choices
If you're going to travel overseas, consider vacationing in Mexico, the Caribbean or even in Africa or Asia, where the dollar is stronger than it is in Europe.
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More on AOL: Soaring Food PricesMore From Bankrate.com:
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Compare Cost Increases
You're paying as much as 69% more over the past two years for common kitchen staples, like eggs, bread, milk, chicken and more. Take a look at over 20 items to see how much prices have risen over 24 months.(Figures are based on the U.S. city average as of Mar. 31, 2008, from the Department of Labor's CPI.) .
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