Save Money On Car Insurance

1.If you're like most people and make monthly or quarterly payments on your car insurance, instead of paying for the whole year at one time, ask if there are fees that you are being charged, and if so, how much they are.

2.Be careful who you loan your car to. If this person has an accident in your car, you have to file the claim with your insurance company. Your rates will be affected and, depending on your friend, you may be the one paying your deductible.

3.If you've had the same car insurance for more than a year and a half or two years, shop around. Call and get quotes from several other companies. Then, contact your current insurance company and tell them that you have a quote from another company that is cheaper than what you are currently paying. See if they can match it. If not, it's time to change insurance companies.

20% For Savings/Retirement/Debt Payment

Once you have your needs and fun money balanced, you have 20% of your income to pay off your credit card debt and save for your retirement. Experts disagree about which comes first. Some say money not saved today is money lost tomorrow. Other say the interest you would be paying unnecessarily on credit card debt while investing in your retirement defeats the purpose of investing. Whatever you decide to pay first, use the 20% of your income exclusively for paying off debt and saving for your retirement. More about retirement to come soon.

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Save Money By Searching For The Best Travel Deals

Another one of the ways to save money is by Taking the time to research a trip well in advance. Click on the above link to search over 200 travel websites to guarantee yourself that you are getting the best deal available and not paying more than you have to for your trip. You can also check out my blog Vacation Tips For A Budget for more ways to save money on your trip.

30% for Fun

In order to save money and have your finances balanced, you need to enjoy it. 30% of your income should be for fun things. This is where you would pay for things you don't have to have, but like to have. This includes cable t.v., internet access, clothes, shoes, gym membership, golf clubs and make-up. From your fun money you pay for your vacations, eating-out at restaurants, going to movies, paying for baby-sitters and buying gifts. If you are married, each spouse must have a certain amount of money just for them, that they can spend in anyway they like.

50% for Needs

To have your finances balanced, 50% of your income should go toward things you need. This means, obviously, things necessary for living. This includes food, electricity, a place to live, car insurance, health insurance, gas and heat.

Save Money By Shopping At Wal-Mart

Shopping at Wal-Mart is one of many ways to save money. Even with the declining economy, prices still occasionally decrease there. You'll almost never find things cheaper anywhere else, but if you do, Wal-Mart will honor the cheaper price from the other store. If they don't have what you are looking for in stock, shop on-line. They usually offer free shipping to the store nearest you. To save money, you can't beat Wal-Mart.

Balance Your Finances

No matter how much money you make, your personal finances needs to be balanced. This is the only way you will feel financially secure. This will allow you to save money, but not keep you from having fun and enjoying your money. The proper balance for your finances is:
50% for your needs
30% for fun
20% for savings
You may not agree with this, you may think this is too high or too low in some areas. But I guarantee you, with your money balanced this way, you will rest easy and feel financially secure. I'll explain about each category in more detail later on.