Money Saving Tips

Start saving money every day by paying attention to your finances. Money can be an ugly word, so stay on top of your funds and where they are being spent and saved. Find ways to eliminate unnecessary spending and reduce monthly bills. Balancing your household budget and living within your means is an essential step to living a life without worrying about money. Below are some helpful money saving tips.

Cook and eat in more. Instead of eating out for lunch and/or dinner, save huge amounts of money by creating a simple menu, buying the groceries and cooking at home. You can create very easy dinners in 15 minutes or less and the cost is a fraction of what it costs to eat out. Prepare a sandwich or leftovers the night before and bring your lunch to work.
Bike, walk, carpool and save gas money. If you even replace a few trips a week with a bike ride or walking you will save money on gas and you will also increase your exercise! ”Get rid of it!” Live this motto and start counting your savings. Anything you don’t use such as club memberships, magazine subscriptions, credit cards with monthly fees, etc., cancel them. If you don’t use them it’s like throwing money out the window.
Pay yourself. Can’t figure out where your money goes every month? Feel like you should have extra but it gets spent on meaningless goods or impulse buys? Start saving those extra dollars and treat it like you are paying a bill, but instead are actually depositing a ‘paycheck’ into a savings account, mutual fund, 401k, etc. Eliminate credit-card debt. Of course this is easier said than done, so here are some tips to help you. Start by making a spreadsheet of your credit card bills, their interest rates and what you owe. Pay off the higher interest rate cards first, once paid off, cancel them. Once your debt is paid off completely, look for credit cards with low interest rates and no monthly fee. From there on out pay off the entire balance every month and use credit cards sparingly. If you have high credit card debt, transfer your credit card balances to a card with a lower interest rate ASAP. You’ll save $730 if you transfer a $2,000 balance from an 18% card to an 8.25% card and then pay off your balance at a rate of $50 a month. Avoid late fees by contacting your credit card company and changing your due dates so you have the funds to pay your bill on time.

Kick the habit. Quit smoking and save more than $2,000 a year if you go from being a pack-a-day smoker to a non-smoker. You’ll also qualify for significantly cheaper life insurance rates after you quit.


Monthly Money Savings
Save $.50 a day in loose change . . .$15

Cut soda/pop consumption by 1 liter a week . . .$6

At work, substitute 1 coffee for 1 cappuccino . . .$40

Bring lunch to work (saving estimated $3/day) . . .$60

Eat out 2 fewer times a month . . .$30

Borrow, rather than buying, one book a month . . .$15

Bounce one less check a month . . .$20

Maintain checking account minimum to avoid fees . . .$7

Pay credit card bill on time to avoid late fee . . .$25

Pay off $1000 of credit card debt, reducing interest . . . $15
Save up to $233 a month! Courtesy of AmericaSaves.org


For more information visit: http://www.bankrate.com/, http://www.americasaves.org/, www.simpledebtfreeliving.com/moneysavingtips.html

Heating Bill Assistance for Coloradans

LEAP INCREASES BENEFIT AMOUNT TO HELP HARD WORKING COLORADANS WITH THEIR UTILITY BILLS DENVER – November 2008 – Colorado’s Low-income Energy Assistance Program (LEAP),which provides financial assistance with utility bills has announced a funding increase. This increase means that more money is available to assist hard working Coloradans with their heating bills this winter. LEAP began accepting applications on November 1. According to Todd Jorgensen, director of LEAP, the program has received additional Federal funding that will enable LEAP to increase its minimum benefit by 75 percent to approximately $350 per household from $200. The maximum benefit will increase by approximately 25 percent to about $900 from $700. LEAP provides cash assistance to help families and individuals pay winter home heating costs. The program pays the highest benefits to those with the highest heating bills and lowest incomes by family size. Applicant income cannot exceed 185 percent of the federal poverty index, which equals a maximum monthly income of $3,269.00 per month before taxes for a household of four people. “LEAP plays an important role in helping many Colorado families cover their utility costs during the cold winter months,” said Jorgensen. “With the price of utility bills expected to increase this year and with the current tough economic times, Coloradans will need assistance meeting these costs more than ever.” In 2007-2008 approximately 92,000 Colorado households received LEAP payment assistance, giving them much needed warmth, according to the Colorado Department of Human Services. Those eligible for the LEAP may also qualify for the Crisis Intervention Program (CIP). The CIP operates year-round and provides assistance with a home's primary heating source such as a furnace. To qualify for LEAP, applicants must be responsible for paying heating costs to either a utility company or a landlord as part of rent. Applicants must also be permanent legal residents of the United States and Colorado or have household members that are U.S. citizens. LEAP applicants must provide a copy of valid identification and a completed affidavit indicating that they are lawfully present in the United States with their program applications. Currently, the following valid forms of identification are accepted.1. Colorado Driver’s License or Colorado Identification card; or2. United States Military Identification Card or Military Dependent’s Identification card; or3. United States Coast Guard Merchant Mariner card; or4. Native American Tribal document.As defined by the Colorado Department of Revenue, other forms of identification may be required as well. For more information on lawful presence requirements, contact the DOR or visit their web site located at http://www.revenue.state.co.us/main/home.asp LEAP applications are accepted from November 1 to April 30 of each year. Potential program applicants can apply several ways:1. Call 1-866-HEAT-HELP (1-866-432-8435) to order a mailed application. 2. Applications are available at every county department of social/human services.3. Most utility companies keep a supply of LEAP applications and instruction sheets.4. Many community agencies, like Catholic Charities, stock LEAP applications. For more information about LEAP, please call 1-866-HEAT-HELP (1-866-432-8435) or visit http://www.cdhs.state.co.us/leap to view the most current program application requirements.