Hey folks, with everything that’s going on out there it’s important that you figure out how to save every dime that you can. So, I’ve got five money saving tips for that you can use right now.

1. Take your family to the public library. The public library is probably one of the most underestimated places to be able to save money. When it comes to getting DVD rentals you can certainly do it through your cable company or down at a major movie video store, but renting a DVD from a library is free . . . yes free. So, take up that opportunity. If you’re looking to fill up your iPod you can certainly download tunes for 99 cents a piece, but you can also get freed CD’s at the public library that you can load on to your computer right there. That could save you in the ball park of $10 to $20 every single time you’re loading up a new album if you just take the time to go to the library.
2. Buy generic. In most stores you’ve got the opportunity to buy generic brand versus buying one of your favorite brands. In the area of buying drugs, especially prescription drugs store brands can often be 40% to 50% cheaper than the overall name brand with the same ingredients inside of that particular item. I know that from many years of shopping inside of grocery stores and chain prescription drug stores where you could look at the ingredients and they would be exactly the same. Even with things such as cereal, you have a choice to buy a certain type of cereal with a major brand or your grocery store brand. You have to ask yourself what will be a better choice for your bottom line.
3. Forgo the morning Joe. If you think about it, three to four times a week most people stop at one of the major chain stores and spend $2 to get a morning cup of coffee versus getting to work and having a cup of coffee at work. A $6 to $10 savings every single week can mean in the thousands of dollars during the course of the year. Now I know you like that coffee and you like the scene at the overall neighborhood coffee store, but wouldn’t it be better to have a retirement with money in your pocket than to have that premium coffee.
4. Always look to clip a coupon. I think that in some point clipping coupons will become vogue again, especially with the internet today where it’s so easy. Before you buy anything whether it’s electronics or you go on a vacation or you’re just going to the grocery store, take the time to get on the internet and see if there’s a coupon. There’s over 30 major deal and coupon sites that are widely known throughout the internet including specialty sites. If you just take the time to look at those before you actually go out and go to the grocery store or that next major purchase that should give you the opportunity to save money in your pocket that can work toward your goals.
5. Eat out less. Very simply, if you’re eating out three or four days a week just cut it down to one or two. I know it’s easy and it’s convenient and there’s more casual fair restaurants than you can shake a stick at, but eating at home twice a week versus going out can save you $2,000 to $4,000 per year. So just think twice and look in your pantry before you hit the casual dining restaurants.

This is not an end all list, but it will give you a great start to figure out how to improve your bottom line. It may make all the difference in reaching your financial goals.

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