Great Ideas to Stretch Your Dollars and Save Big Money

In scouring news sources looking for helpful financial information, I came across these ideas that we all might think about. I’ve already completed the first and second on the list!

To help stretch your dollars, here are five places to look for savings:

1. Bundle Up. If you’re dealing with separate companies - and separate bills - for your cable TV, phone and Internet service, think about bundling up. Many companies offer reduced rates if you purchase all three services at one time. There’s even a website, http://www.bundlemyservices.com/, that offers tips and comparisons for more than 20 companies nationwide.

You can call your local phone or cable TV provider and ask about lowering your rates by combining services. Take advantage of special deals and limited-time deals.
One warning: If you sign up for a limited-time offer, be sure to call and cancel or renegotiate before the rates jump back up.

2. Auto Insurance. If you’ve been with the same insurance company for years, it can pay to shop around for a better rate. Some state Departments of Insurance websites offer handy calculators that allow you to get general comparisons on basic annual premiums from dozens of auto insurance companies. The rates are not firm quotes but a general comparison of sample rates.

3. Credit Cards. Here are two ways to save, depending on whether you carry a credit card balance.
If you’re trying to pay off a monthly balance, pick up the phone. With so many credit card offers flooding mailboxes these days, there’s lots of competition. Ask your current card company for a lower rate, and if you get rebuffed, call again in another month or so, advises one credit card expert.

“Persistence pays off,” says Eileen Rector, spokesperson for CreditCardsPlus.com, a website that allows consumers to easily find and compare credit card offers and then apply online.
On a $5,000 balance, for instance, if your interest rate is lowered by three points-say, from 18% to 15%-you’ll save about $12 a month, or $144 a year. If you’re paying off the balance at $100 a month, you’ll knock off 15 months of payments and save $1,500.

Perhaps the biggest savings of all is sometimes the hardest: whittle down your credit card debt. Pay more than the monthly minimum to avoid paying excessive interest over the long term.
If you don’t carry a monthly balance, consider getting a credit card that pays you. Lots of companies, from Southwest Airlines to Home Depot to Golden 1 Credit Union, are dangling rewards cards to customers. Typically, for every dollar you charge, you accumulate points toward merchandise or services.
Some cards, like Discover More, offer cash back.

When choosing a rewards card, it’s crucial to look at the terms and conditions, especially on how to accumulate and redeem rewards. Some companies post it automatically to your account once a year; others require you to call in to request your cash back or risk losing it.
For more information visit http://www.creditcardsplus.com/ for a comprehensive listing and comparison of current credit card offers.

4. Major Purchases. Most of us don’t want to be shopping for a new fridge or washer/dryer, but if the old one dies, you have no choice. As with any major purchase, it pays to do some comparison shopping. Pick the model and features you want, then call or go online to compare prices at several appliance stores or retail outlets.

Also, check the manufacturer’s website, such as http://www.kitchenaid.com/, to locate discounts and rebates that might not be available in the store.
Another option: Some retailers, like Sears, have warehouse outlets where they sell discounted merchandise for anywhere from 20% to 60% off regular retail. Typically, it’s returned merchandise, discontinued models or those with slight dings or nicks-cosmetic blemishes that don’t affect the appliance’s durability or performance.

Thinking about buying an extended warranty for that new dishwasher or dryer? According to Consumer Reports, it’s not necessary. Unless you sleep better knowing you have extended coverage, most of the time the repairs won’t outstrip the cost of the policy.

5. Treasure Hunting. OK, it’s not really treasure but there may be a stash of cash just waiting for you to uncover. We’re talking about unclaimed property-old savings accounts, utility refunds, dividend checks, product rebates and other money that is rightfully yours. In many cases, long-ago deposits are sitting dormant in banks or safety deposit boxes.

In many states, financial institutions must turn over all dormant bank accounts, safety deposit boxes and the like that have gone untouched for three years or more.
It’s a big piggy bank waiting to be tapped. Each state is sitting on about thousands of unclaimed property accounts worth. You may visit http://www.unclaimed.org/ for a state-by-state listing of where to hunt for unclaimed property.