frugal underground

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You probably have some old things that you don’t need or want anymore. You might be able to sell the items and make some money.

The older the item is, the more valuable it may be. Certain limited edition toys, for example, could be worth hundred or thousands if they are still in the packaging. Old video games, out of print books, and other discontinued items might be worth quite a bit to an eager seeker. Comic books, collectible sports cards, made special addition magazines could get you some money. Sign up for an ebay account if you have something that might be valuable.

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You can also have a good old fashioned yard sale. One person’s trash is another person’s treasure. As long as it can still be used or fixed, you can sell it. Not only will you free up some space in your closet, but you will make some extra money, too.

When you make a sale, put the money into an interest-bearing account and reap the benefits every month.

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Not everyone can afford a gym membership or a personal trainer to help them get in shape. As a matter of fact, most people just don’t have the money or the time to travel to the gym before or after their full time jobs. How can a person on a budget lose weight and not lose money?

You can find basic dieting tips and health or fitness information on the web, in the library or at the book store. You can surf and skim for ideas without spending a penny. Get as much information as you can, and apply what you learn.

Here are some quick and easy money-saving weight loss tips:

• Walk as much as possible.
• Drink water instead of soft drinks.
• Use the stairs, not the elevator.
• Stand instead of sit.
• Do sit-ups, leg lifts, or arm curls while watching television.
• Eat less junk food and more fruits and vegetables.
• Eat less meat.
• Never go for seconds.
• Eat slowly, and stop before you are totally full.
• Always get a good night of rest.
• Try to find at least 30 minutes a day to relax, clear your mind and reduce stress.

These tips will help you to increase your metabolism and lower your calorie intake, without the membership fee and special food costs. If you commit to a healthier lifestyle you can lose weight while keeping your wallet fat.

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Here are some ways that people spend money unnecessarily. You can save money little by little if you watch the tiny money grubbers. You might think, a dollar here, or a dollar there, won’t matter. The truth is that a lot of little things really add up.

To illustrate, here is a typical example of allowing little money grubbers waste your money…

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Jo-Ann has a full time job, and she loves to use the vending machine. Everyday on her short break, she spends $.75 on a can of soda and $.65 on her favorite snack (that’s $308 per year).

Jo-Ann also has some credit card debt. She always pays more than the minimum, but decides to put her extra money into an interest bearing account instead of paying down the debt. Although her savings will return some money, $50 per month, the interest fees on her cards add up to about $80 per month. (She will still lose $30 per month, $360 per year.)

Jo-Ann doesn’t like to use the internet too much because she is afraid of identity theft. She pays postage for all of her bills (even though she could pay them online). She has to mail six envelopes per month with a stamp. That adds up to $38.28 per year.

Jo-Ann could save more than $700 per year if she pays her bills online, brings a snack from home, and pays down her credit card bills. In five years, she would save $3,500!

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You should always have a plan when you are going to spend money. Consider just three areas where we regularly save by planning.

Groceries. Planning the meals to cover a week or two weeks will help you stick to a budget. Instead of buying food on impulse, you can plan each meal ahead and get the necessary ingredients. You should also make sure that you check the levels of household cleaners and toiletries. Avoiding an extra trip to the store will bring down the chances of an impulse purchase.

Entertainment. Everyone likes to get out and have fun. If you really need to get out once in a while, plan an inexpensive night out. Set the amount you will spend and stick to it. If you use cash only, you will be more inclined to stick to budget.

Major purchases. You can save a fortune if you explore your options. When looking for a car, furniture or major appliances, there is much room for error. Think about quality. It might not be the best choice to buy the cheapest thing out there, because it may not last as long. Check the consumer ratings on the brands you are considering. You don’t have to pay top dollar, but cheap isn’t the way to go with certain things.

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Pay your savings account like a bill. The age old method of promising to put aside whatever is left over at the end of a month just doesn’t work well. When you get paid, the first thing you should do is put money away into savings.

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Budget a specific amount of your check to put aside every time you are paid. If over time, you think you can put aside more, go for it. Just be consistent.

Make sure you are earning interest. There are several excellent savings accounts that will earn you over 5% APY. I have accounts with HSBC, and ING Direct frequently offers good deals, too. This money will be liquid, meaning you can withdraw money any time, without penalty, if you really need to (the idea is to have a fixed amount that you can afford to set aside).

You should also make a deal with yourself that if you get extra money (gifts, tax returns, a bonus, and especially a raise) that you will use it to reach savings goals.

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