Do you save money? Do you even try? It's not easy with the cost of everything going up. Would you like a simple way to save money everyday without having a complicated process or formula to follow? When you get home at the end of the day and empty out your pockets, what do you do with your small change. Now don't laugh, it does work. That idea alone will net you hundreds of dollars each year. I knew someone who would never spend a single dollar bill, even if he had a wallet full of them. He would just hand over a five or ten dollar bill instead of the single. You wouldn't believe how much he saved in a year! I do the same thing, but with quarters. Each week, I end up with over three dollars in quarters. In a year, that will be worth over $150.00. I put those quarters aside until the end of the year. I never miss those quarters everyday. Why not give it a try? Maybe you will be able to work up to dollars too.
Here's an idea that I have shared with you before that will save you hundreds of dollars each and every year. I'll bet most of you are still buying those expensive checks from your local bank. You can buy those checks from companies that print checks that are accepted at every bank in the country, and save yourself money by doing so. Give "Current" a call at 1-800-533-3973 or "Checks in the Mail" at 1-800-733-4443, and ask for a catalog. Yes, they have business checks too. I have a list of five other companies that print checks and it is yours for the asking. Over the years, that has been the most requested piece of information from those of you who have written to me. That number is in the thousands!
While I'm picking on banks I might as well continue! Have you considered joining a credit union? You say you aren't eligible for one? Are you sure? Over 65 million people do belong and by the turn of the century, they project that number will exceed 100 million. You can give the Credit Union National Association (CUNA) a call at 1-800-358-5710 for information on a credit union in your area that you can join. Why not talk to your state association about becoming part of a credit union? Give CUNA a call about how that can be accomplished.
Here's a one liner for you that can save you thousands of dollars each and every year. Why not consider "contributing" to a retirement plan before you "contribute" to Uncle Sam in the form of income taxes. I suggest that you read that line over a few hundred times until you do something about it!
By the way, if you need any additional information on any of these ideas, just follow the directions at the end of this article and drop me a line.
Here's an idea for any of you out there who are getting ready to sign a lease. Check the "exit clause" in the lease very carefully. Most state that the space must be returned to "original" condition. Do you fully understand the impact that could have on you? As a departing tenant, the landlord could ask for substantial payments to return the space to "original" condition. Maybe you need some additional wording to protect yourself when it's time to move.
Here's another one liner that will save you many thousands of dollars over your lifetime: "Mortgage money is the cheapest money you will ever buy." That's what I said, the cheapest. If that's the case, then why would you want to pay off a mortgage early? You wouldn't! Not if you are smart.
Do you have kids? Now that you made that mistake in life, how are you going to pay for their education? I'll bet money you haven't followed my advice from previous articles and put them on the payroll. Shame on you!! Your punishment for that will be that you will just go on paying higher income taxes and have to worry about paying for college out of current income. Is that what you want to do? Isn't it time to drop that Greenfield guy a letter and pick his brain for some ideas that can save you a bundle? No, you don't want to do that. All that will do is save you thousands of dollars in taxes.
I just reviewed this article and added up the savings that I have passed on to you. If you use all of the ideas that I have presented -- there is no reason why you shouldn't -- you will save $117,863.59. Not bad for reading a column that only took you less than five minutes, and you paid nothing to get. I'm sorry there are no pictures other than the one of me smiling, but what do you want for nothing?
Would you like more ideas like this in the future or would you like recipes for pudding? Now you have an opportunity to decide the direction that this column will take. So far we have 571 votes for tapioca pudding recipes and 18 for tax saving ideas. Before I have to go out and buy a bunch of aprons let me hear from you and what you would like for me to cover. It's your opportunity to be heard. Use it!
Your comments and inquiries may be directed to:
Stanley Greenfield, RHU
125 Crofton Hill Lane
Rockville, MD 20850
Click here for previous articles by Stanley Greenfield, RHU.