Power.Smart.Tips

Power.Smart.Tips Follow our tips and advice for quick and easy ways to save money, lower your bills and reduce your carbon footprint.

Whether you’re a homeowner, a private or social renter, a student, or you live with your parents, there are many things you can do.

11. Reduce your gas usageYou can't control prices at the pump, but you can do several things to cut your gas use and sav...
06/05/2022

11. Reduce your gas usage
You can't control prices at the pump, but you can do several things to cut your gas use and save money. Try using a gas app to pinch pennies when you do fill up.

10. Lower your car costsRefinancing your auto loan and taking advantage of lower interest rates could save you considera...
06/03/2022

10. Lower your car costs
Refinancing your auto loan and taking advantage of lower interest rates could save you considerably over the life of your loan. Shopping around for car insurance regularly can also help you cut costs compared with simply letting your current policy auto-renew. You can cut ongoing car maintenance costs by driving less, removing heavy items from your trunk and avoiding unnecessary rapid acceleration.

9. Get creative with giftsYou can save money with affordable gift ideas, like herb gardens and books, or go the do-it-yo...
06/02/2022

9. Get creative with gifts
You can save money with affordable gift ideas, like herb gardens and books, or go the do-it-yourself route. Baking cookies, creating art or preparing someone dinner can demonstrate that you care just as much as making an expensive purchase, and perhaps even more so. You can also shower someone with the gift of your time by offering to take them to a local (free) museum or other event.

8. Delay purchases with the 30-day ruleOne way to avoid overspending is to give yourself a cooling-off period between th...
06/01/2022

8. Delay purchases with the 30-day rule
One way to avoid overspending is to give yourself a cooling-off period between the time an item catches your eye and when you actually make the purchase. If you’re shopping online, consider putting the item in your shopping cart and then walking away until you’ve had more time to think it over. (In some cases, you might even get a coupon code when the retailer notices you abandoned the cart.) If 30 days seems like too long to wait, you can try shorter periods like a 24- or 48-hour delay.

7. Restrict online shoppingYou can make it more difficult to shop online in order to stop spending money on things you m...
05/31/2022

7. Restrict online shopping
You can make it more difficult to shop online in order to stop spending money on things you may not need. Instead of saving your billing information, opt to input your shipping address and credit card number each time you order. You’ll probably make fewer impulse purchases because of the extra work involved.

6. Map out major purchasesYou can save by timing your purchases of appliances, furniture, cars, electronics and more acc...
05/30/2022

6. Map out major purchases
You can save by timing your purchases of appliances, furniture, cars, electronics and more according to annual sale periods. It’s also worth confirming a deal is actually a deal by tracking prices over time. You can let tools do this step for you; the Camelizer browser extension tracks prices on Amazon and can alert you to price drops. The Honey browser extension pulls in coupon codes and checks for lower prices elsewhere.

When you're shopping in person, make sure you get the best deal by using the ShopSavvy app. It lets you scan bar codes and alerts you to better prices elsewhere.

5. Get discounts on entertainmentYou can take advantage of free days at museums and national parks to save on entertainm...
05/30/2022

5. Get discounts on entertainment
You can take advantage of free days at museums and national parks to save on entertainment costs. Your local community might offer free concerts and other in-person or virtual events; check your local calendar before splurging on pricey tickets to private events. You can also ask about discounts for older adults, students, military members and more.

4. Minimize restaurant spendingOne of the easiest expenses to cut when you want to save more is restaurant meals, since ...
05/30/2022

4. Minimize restaurant spending
One of the easiest expenses to cut when you want to save more is restaurant meals, since eating out tends to be pricier than cooking at home. If you do still want to eat at restaurants, try to reduce the frequency and take advantage of credit cards that reward restaurant spending. You can also opt for appetizers or split an entree with your dining companion to save money when you eat out. Skipping drinks and dessert can help stretch your budget as well.

3. Prep for grocery shoppingA little work before you go to the grocery store can go a long way toward helping you save m...
05/27/2022

3. Prep for grocery shopping
A little work before you go to the grocery store can go a long way toward helping you save money on groceries. Check your pantry and make a shopping list to avoid impulse buying something you don't need. Learn how to get coupons and join loyalty programs to maximize your savings as you shop. In exchange for sharing your phone number or email address, your local store’s loyalty program might offer additional discounts.

If you use a cash-back credit card, you could earn extra cash back on grocery purchases. Some cards offer as much as 5% or 6% cash back, but you’ll want to be sure to pay off your bill each month to avoid paying interest and fees.

The app Flipp pulls in coupons from local stores when you enter your ZIP code. That way, you can shop sales without sorting through the newspaper. If you shop for groceries at a large retailer like Target, Amazon or Walmart, you can often find additional savings by downloading the store’s app.

2. Count your coins and billsAnother option is saving your change manually by setting it aside each night. After you hav...
05/27/2022

2. Count your coins and bills
Another option is saving your change manually by setting it aside each night. After you have a sizable amount, you can deposit it directly into your savings and watch your account grow from there. In fact, when you want to watch your spending, it’s a good idea to use cash instead of credit cards because it can be harder to part with physical money. While this strategy doesn’t build savings overnight, it's a solid approach for slow-and-steady savings growth.

1. Automate transfersBy setting up automatic transfers from your checking account to your savings account each month, th...
05/27/2022

1. Automate transfers
By setting up automatic transfers from your checking account to your savings account each month, the money will accumulate over time without any additional work on your part. This technique can be especially useful when your savings accounts are dedicated to specific goals, such as establishing an emergency fund, going on a vacation or building a down payment.

You can also let apps like Digit or Qapital do some of the work for you. After you sign up, they'll transfer small amounts from your checking account to a separate savings account for you. That way, you don’t have to spend time or energy thinking about making a transfer. You can learn more about apps that automate savings and decide if they’re a good fit for you.

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