Smart Saving & Spending Archives - Page 3 of 9

How to Save Money on Prescription Medications

Sticker shock is alive and well at every pharmacy across the country.

Prescription medication is expensive.

Plenty of people shell out continuously to cover treatment for chronic medical conditions. And, other times, getting a prescription is an unpleasant, pricey surprise. Your kid gets an infection. You’re injured in an accident. Or you face an unexpected diagnosis.

In fact, a recent survey by RxSaver found that the average American adult spends $33 each month — that’s $400 a year! — on prescription medication. And kids’ prescriptions add an additional $341 a year to your budget.

Any way you slice it, it feels like your wallet is completely at the mercy of your pharmacist.

So what can you do? How can you ensure that you have the money you need to cover your essential medical costs?

If you want to know how to save money on prescriptions, try these smart strategies for saving what you need and growing what you already have. [Read more…]

Can’t Stick to a Budget? How to Overcome 6 Common Obstacles

You know that a budget is invaluable for sticking to your money goals. And a great financial plan can help you prioritize those goals, manage your debts, and focus your money where it matters.

But living on a budget is sometimes easier said than done. And 6 common problems routinely trip up people with good financial intentions.

Ready to troubleshoot your pain points? If you’re struggling to figure out how to stick to a budget, these solutions are just what you need. [Read more…]

How Much Money Should You Have in an Emergency Fund?

Here’s a personal question: How healthy is your savings account looking these days?

Not so good? You’re not alone: A recent survey from GOBankingRates found that 58% of American adults have less than $1000 in savings. And more than half of that groups has zero dollars saved.

Zero!!!

It’s time to change that statistic and get serious about building an emergency fund.

But just how big should your emergency fund be? How do you know what number you should target in that all-important savings account?

Here’s how you can answer that big question with confidence.

[Read more…]

7 Laundry Hacks to Save You Time & Money

Note: This post contains affiliate links. Read my policy here.

I’ve heard that there are people who enjoy doing the laundry . . . but I’ve never met a single one.

Odds are, you wish that you had a magical helper — a laundry fairy who would pick up, sort, wash, dry, iron, fold, and stow your family’s clothing without your needing to lift a finger.

But, failing that, it’s up to you to face the never-ending chore of doing the laundry.

But what if you could make doing the laundry faster and easier? [Read more…]

The Beginner’s Guide to Playing the Drugstore Game

Note: This post contains affiliate links. Read my policy here.

The Drugstore Game is addictive.

Every time you hit your local drugstore, you challenge yourself to buy the items you need for as little as possible – or even without paying a dime!

I got started several years back after reading an outstanding and inspirational guide, How to Shop for Free: Shopping Secrets for Smart Women Who Love to Get Something for Nothing. (The book not only makes the drugstore game easy and effective but offers savings tips on clothing, electronics, groceries, and more!)

If you’re brand new to the drugstore game but want to learn and start playing quickly, here’s your essential guide to getting started and saving big at the drugstore. [Read more…]

Should You Cosign a Loan? What You Need to Know

Co-signing a loan can saddle you with some surprising — and unpleasant — consequences.

When a friend or family member asks you to co-sign a loan, it doesn’t seem like a big deal. You’re just helping out a loved one, right?

But co-signing a loan comes with serious, often hidden risks to your finances and your relationships. Here are some things to consider before you agree to lend a hand. [Read more…]

How to Jump-Start Your Retirement Savings

If you’ve got three or even four decades to go until retirement, saving for that time of your life may be the last thing on your mind. But you’ve actually got the most incredible element on your side — time.

In fact, with the power of compound interest, you’ll be able to get more bang for your contributions than your peers who wait until they’re closing in on retirement age to start really planning and saving.

Of course, wanting to save for retirement and actually doing it are two very different things. When you’re just getting started, it’s easy to feel intimidated by the confusing alphabet soup of terminology — 401(k), 403(b), IRA, Roth SEP, SIMPLE, HSA, and so on.

So I’m demystifying the options for retirement savings. And I’m walking you through the process of kickstarting your journey to a successful future. [Read more…]

What You Need to Know Before You Get a Cash Back Credit Card

Who doesn’t love free money???

It’s so tempting to jump on the opportunity to rake in dollar bills by signing up for cash-back credit card. However, before you apply for one, it’s important to understand how these cards work and determine which one, if any, is right for you.

This guide will not only answer those questions but will also help you get the most bang for your buck with a smart cash-back credit card strategy.

[Read more…]

Why You Need a Food Processor: 10 Ways You’ll Save Time & Money

Note: This post contains affiliate links. Read my policy here.

Sometimes it feels as though you have to pick your poison when it comes to meal prep: save time with prepared ingredients or save money by handling the food prep yourself.

But you can save time and money on food prep with a surprisingly versatile kitchen tool — your food processor.

If yours is getting dusty on the back of a shelf — or if you haven’t made the investment to buy one — here are 10 compelling reasons to fire up a food processor to get great food ready quickly and inexpensively. [Read more…]

Should You Save for a Home or Pay Down Student Loans?

When you’re repaying student loans, it can feel as though you’re frozen in time. After all, if you’re buried under $10k, $25k, or $100k in educational debt, it’s easy to think you have to put the rest of your life on hold.

In fact, according to a recent report from the National Association of Realtors, wannabe homeowners with student loan debt wait seven years longer to buy homes than those without.

But is kicking those loans ASAP while waiting to buy a home really the smartest move you can make? Or is taking your time while amassing a down payment the way to go?

The path you should choose depends on your financial circumstances. Here’s how. [Read more…]