Simple Money Savings Tips

We all have our own little secret ways to save money - clipping coupons, reward clubs, after holiday sales, even getting tacos only on Tuesdays.  In this episode of Money Minute here are five quick and easy tips that you can use to help save money every day or help pay off debt quicker.

1.  If you're going to the mall leave the credit cards at home and only bring your debit card. That way you won't be tempted to spend more money than you planned. Works like a charm.
2. Going to the grocery store? Make a list AND STICK TO IT!!  That is toughest part for me, especially if I'm hungry.  So if I'm tempted I use the #3 tip:
3. 10 second rule - if I'm tempted to buy something I didn't plan on, I hold it for 10 seconds and try to justify WHY I need it, and if I can't find a good reason in 10 seconds, then I put it back. 
4. Make a debt calendar. Lay out all your debts and look for the one with the highest interest rate and start making the biggest payments on that debt, once that is paid off then take those payments and apply to the next debt until that's paid off and take the combination of THOSE payments and apply to the next debt. It's an organized way to really make a dent in that pile of bills.
5. My favorite - Tropical Financial ONLINE BILLPAY! It allows me to keep track of all my bills in one place AND I save money on envelopes and stamps!

These are just a few ideas that I use in my everyday life, but I would LOVE to get some other ideas to share. SO I'm inviting YOU to share your best savings tips with us and the BEST one is going to win a $50 Amazon gift card!

Entering is easy, just email us at: listening@tfcu-fl.org or post a comment on our Facebook page under the post: Simple Money Savings Tips.  We'll be sharing the tips that people enter as comments to this post as well. Hurry this contest ends on June 30, 2014 and we'll post the winner here on July 1st.

^Amy

For a complete set of rules click here.

Four Vacation Planning Tips to Save You Money

 
Whether it involves a nap on a sun-drenched beach or flying through crisp mountain air on a zip line, everyone needs a summer vacation. Stepping out of your regular routine recharges your energy like nothing else, but the hassle and expense beforehand can make it seem like more trouble than it’s worth. These easy tips will help smooth the road to your destination and save you a bundle, too.

1. Book your dream vacation in advance

Even if you can’t afford a trip to Paris or Tokyo right now, that doesn’t mean you should write off the idea. While you’re online arranging a more modest vacation for this year, book your dream trip up to 15 months or more in advance for the best rates and to avoid possible future price increases.

You would be surprised how affordable a dream trip becomes as you put a little money aside each week for over a year. Create a separate savings account  like a club account, to keep track of your vacation fund’s growth, and earmark your credit card rewards for vacation expenses. 

2. Romance the rails

Train travel is often cheaper than flying, particularly for shorter trips. Another benefit is that you see the country in a much more personal way than you would from 30,000 feet in the air. Riding the rails may be slower, but it’s truly an adventure, especially for kids. You’ll also avoid baggage fees and the hassle of airport security, plus you can use your cell phone whenever you like and the dining car serves hot meals.

3. Avoid peak vacation times

Costs vary dramatically depending on the time of year you travel. If you rent a house at New Jersey’s shore for a week in July or August, it will cost thousands of dollars more than it would after Labor Day. Tropical vacations usually are more expensive during the winter months. You’ll save big by learning what’s off-season for your destination, and making your reservations for that time.

4. Eliminate the middleman

Before making reservations through a booking site, be sure to check rates directly at websites and maybe give airlines a call, too. Some airlines don’t list with booking sites, and hotels often run unadvertised sales that you’ll never know about if you don’t contact them directly.

Before you depart

As you complete your vacation checklist and attend to last-minute details, don’t forget to notify your credit union if you’re leaving the country, so they won’t suspect fraud when foreign charges appear on your accounts. Your credit union can also be an excellent ambassador for you abroad as it helps you with money exchanges, traveler’s checks, free foreign ATM locations and emergency advice.

If you're in need of additional funding for your big trip, consider a TFCU Summer Vacation Loan. You can select the loan amount and payment term that works best for you.  It also can help pay for that modest trip this year while you start saving for that big trip next year!

Roberta Pescow, NerdWallet