It’s no secret that college has become an increasingly expensive way to get an education these days. With private school costs rising faster than inflation and with public schools hiking rates to compensate for debt-ridden state governments, the price of college tuition have reached new heights in recent years. Unless you are wealthy enough to cover six-figure costs or disadvantaged and qualified enough to receive large amounts of aid, it’s almost a certainty that you will graduate from school in considerable debt. Unfortunately, you may find yourself in even greater debt if you forgo a college degree in today’s job market. It’s a catch-22.
The burden posed by college is one that should not be overlooked by any young couple that is planning to have children. Even if you don’t plan on paying for your child’s college costs someday, it is still important that you help them save and that you take steps to plan your finances for the purpose of maximizing future financial aid. After all, even if the payment burden does fall on your son or daughter, the resources of the full family will be taken into consideration when most aid decisions are made.
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Many of us who are in debt and on tight budgets likely made a basic resolution for the coming year: we resolved to save money and reduce the size of our budgets. This is naturally easier said than done. Certainly, we can go shopping less frequently, eat out less often, and avoid taking any lavish vacations. All of these more frivolous expenses add up quickly and can be easy, with some self-resolve, to minimize and avoid.
But what about those more routine costs? Specifically, how can we reduce our core expenses in the coming year? Doing so can be more difficult and less rewarding on a per-item level, but lowering our core costs – such as food, utilities, rent, and transportation – can translate into substantial savings in the long run.
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This post will discuss how you can save money in three unusual ways: on travel, coffee and college.
Travel – Free Airline Tickets
Regardless of whether airline ticket prices are high or low, traveling is expensive, especially for those who travel frequently. But there’s a way to get airline tickets for free. While sitting at an airplane terminal waiting for a flight it is common to hear an airline employee ask for volunteers to get bumped to a later flight. If you volunteer, you receive free airline vouchers for usually between $200 and $300; voucher prices differ based on how busy airports are and whether a flight is domestic or international.
The great thing is that the airlines do not limit how many vouchers you can collect in one day. So, if fliers are not in huge hurry, they should take the airline up on its offer. I’ve personally gotten $800 in airline vouchers in one day after using a free voucher for my initial flight, and I haven’t paid for an airline ticket in over a year. And in regard to trips, this is a huge savings. When airline ticket prices are high, this can mean saving money on a good 25 percent of your trip; when airline ticket prices are low, it translates to 3 to 4 days of eating out while you’re on vacation. And many times when fliers get bumped, they get to fly in the first class cabin on their next flight, which alone makes it worth catching a later flight. Some airlines have even begun allowing people to volunteer to be bumped when they check in for their flight.
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Nowadays you rarely hear about people wanting to pay off their home loans early. It seems that many families are struggling just to make their monthly mortgage payments.
But not everyone has lost their job or is going through tough financial times. Paying off your home early doesn’t just reduce the number of years off your loan, it can save you tens of thousands of dollars.
If you’re considering paying your home off early I’ve got some tips to share with you.
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We all need a break here and there. Some families make it a habit to take a yearly summer vacation. But with rising gas prices it’s affecting road trips and airline fees. So there’s never been a better time than now to save money on your vacation.
- Timing. Vacationing at the right time can really save you money on your flight and hotel.
- Bundle. Get your flight, hotel and car rental at the same time to save some money over getting them separately.
- Souvenirs. Why would you pay for an overpriced cup, keychain or a tshirt with the name of the city you visited? There’s nothing practical about that. The best souvenirs are memories. Want to save a memory? Bring a digital camera.
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There are countless ways to reduce your grocery store bills. Here are just a few of them.
- Groceries. Shop at a store that rewards you. Join their rewards program to get members only discounts and accrue points that you can redeem for store gift cards.
- Food. Certain foods are cheaper than others. A meal of rice, beans and vegetables are cheaper and healthier than a meat based meal.
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Just about everyone can find ways to save a few bucks – you just have to look hard enough. See if there’s any items on this list you can do in order to save money.
- Vices. Addicts (whether it be drugs, alcohol or smoking) are throwing a ridiculous amount of money away. Not only that, but they are inviting large medical bills due to diseases caused by their additions.
- ATM. Don’t use the ATM at any bank that is not your own. Always have cash on you so you won’t need to use an ATM machine that could charge you up to $5 for the privilege of using your own money.
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People know prices, but they don’t know sizes. That’s why manufacturers are shrinking the sizes of their products, but keeping the prices the same. This is essentially the same thing as a price hike. Here are some examples of some recently downsized products.
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Part of the Ethernity
