Contents
Expense-Cutting Basics
How to Track Your Spending
Money-Saving Websites and Techniques
How to Cut Grocery Expenses
How to Cut Utility Expenses
How to Cut Home and Garden Expenses
How to Cut Clothing Expenses
How to Cut Entertainment and Dining Expenses
How to Cut Transportation Expenses
How to Cut Phone and Computer Expenses
How to Cut Health and Beauty Expenses
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Money-Saving Websites and Techniques
Once you’ve considered the benefits of cutting back on everyday expenses and developed a plan for tracking what you spend, the next step is to consider the array of available resources—from coupon and rebate websites to price-comparison tools and negotiation strategies—to help you cut where you can.
Coupons and Coupon Websites
Though many consumers look down on coupons as a penny-pinching vestige of the 1950s, the truth is that coupons have evolved. Today there are online search engines to help you find store and manufacturer discounts quickly, websites devoted to specific types of bargains, and even a site that lets you sign up to receive coupons directly on your mobile phone. Here’s a rundown of the notable coupon sites:
Coupon Site |
Description |
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cellfire.com |
This free website sends coupons for stores like Hollywood Video, T. G. I. Friday’s, and 1800Flowers.com directly to your cell phone. Show the cashier the coupon code on your phone screen, and your purchase will be discounted. |
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couponlooker.com |
This free coupon search engine aggregates coupons and promotional codes from a variety of sites, including
dealcatcher.com, couponcabin.com, techbargains.com, and currentcodes.com. |
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coupons.com, smartsource.com |
These free sites offer grocery coupons for the brand-name products that are a staple in your home. Simply click the ones you want and print them out. |
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upons.com |
This site directs shoppers to the websites of grocery store chains, such as Kroger and Giant Eagle, that offer free coupons online. After you sign up and select the coupons you want, they are automatically transferred to your frequent shopper card. |
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valpak.com |
Once you enter your zip code, this free site will pull up a variety of coupons for products and services available to shoppers in your area. |
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coolsavings.com |
This free site offers coupons, discounts, and special offers from popular brands and stores. |
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grocerygame.com |
This fee-based website features Teri’s List, a sophisticated database that lists in-store sales and specials on hundreds of items each week along with manufacturer’s coupons. |
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fatwallet.com, couponcactus.com |
These free sites allow you to search for coupons by store, category, and greatest discount. |
Rebate and Refund Websites
Typically offered in stores or online, rebates require you to pay full price for a product or service up front, then refund to you later a portion of what you paid. The discounts offered by rebates don’t arrive immediately—usually there’s paperwork to fill out and mail in before you receive the rebate check, but it’s worth the wait. Be sure to read the terms carefully and understand the amount and timing of the rebate before you purchase the product. Some companies allow you to track the rebate’s status online—a feature you should take advantage of.
Send in the rebate paperwork immediately to lessen the likelihood that you’ll miss the filing deadline or forget to turn it in altogether, and keep a copy of the materials so that you can follow up with the issuer if there’s a problem. And remember to go through your mail carefully to ensure that you don’t mistake your rebate check for junk mail. If you haven’t received your money within the stated timeframe, call the company to inquire about its status. If the company breaches the rebate agreement, you can file a complaint with the Federal Trade Commission or your state’s attorney general.
Refund/Rebate Site |
Description |
|
rebateplace.com |
If you’d like to search ahead of time for rebates rather than just stumble upon them randomly, this independent shopping service can help you find manufacturer rebates and merchant coupons. It also shows you how to get free gifts from manufacturers. |
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freeshipping.com |
This fee-based service refunds up to $500 per year of the shipping fees its members pay to partner retailers such as Target, Nordstrom, Best Buy, overstock.com, and more. |
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jellyfish.com |
This site is a shopping search engine with a twist. Use it to find the product you want at a price you like, and Jellyfish will give you at least half of the revenue they earn from the transaction. In essence, you get a cut of the retailer’s ad spending. |
Auction Websites
In traditional auctions, sellers post product descriptions and potential buyers bid, ratcheting up the price until time runs out and the item goes to the highest bidder. But reverse auctions, in which the seller sets a price high and lowers it until someone buys, have found homes online as well. Both types of auctions can yield bargains.
Online Auction Site |
Description |
|
ebay.com |
This online auction pioneer brings together millions of people across the globe to buy and sell a range of items from antiques and artwork to sporting equipment and electronics. |
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atomicshopping.com |
In this reverse auction site, a price is released at 12:01 Central time and falls as the clock ticks or inventory runs out. At the end of the day, all bidders walk away with the same low price. |
Price-Comparison Websites
A number of online and phone-based tools devoted to price comparison have emerged to help you find the best deal on a range of products and services.
Price-Comparison Site |
Description |
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frucall.com |
This free, phone-based shopping service checks more than 150,000 websites to find the best deals when users call 888.DO.FRUCALL and key in the product bar code number. |
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mobsaver.com |
This free service allows you to compare online prices for goods that are on store shelves. Text the item’s UPC or ISBN code to save@mobsaver.com, and you’ll receive prices via text message immediately. |
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scanbuyshopper.com |
ScanBuy lets you compare prices on Amazon Marketplace, PriceGrabber, shopping.com, and Yahoo Shopping from your cell phone, using the product bar code number. |
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pronto.com |
The product search engine aims to be the web’s most comprehensive and features the full inventories of tens of thousands of retailers. |
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pricegrabber.com |
This site allows visitors to search millions of products across more than 20 categories, from video games and electronics to health and beauty. |
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shopping.com |
This eBay company offers easy-to-use comparison-shopping features showcasing thousands of online brands. |
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Google Product Search,
Yahoo Shopping,
MSN Shopping |
These three major search engines offer price-comparison tools that allow you to compare prices for the same item across a broad range of online retailers. |
Bartering Websites
Bartering, or trading, is another unconventional way to get products or services that you want without breaking the bank. A few bartering websites can help you get started:
Bartering Site |
Description |
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freecycle.org |
There are more than 4,000 local Freecycle communities
that use electronic forums to coordinate the free
exchange of furniture, musical instruments, and other goods among members. |
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barteryourservices.com |
This website allows you or your small business to trade your services. For a small fee, you can post profiles of the services you provide and the services you seek in order to make a match. |
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u-exchange.com |
This free barter site allows you to trade anything from vehicles and homes to professional services and household items. |
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swapthing.com |
This website lists the items and services each member offers and seeks, and charges $1 per swap. Users can create “Swap Circles” to limit their transactions to a
select number of friends or swappers. |
Negotiation
One last tried-and-true method of savvy shopping that doesn’t require the internet is negotiation. This tactic works best with service providers such as plumbers and contractors—you won’t get far trying to convince a grocery store cashier to charge you less than the labeled price on the cereal you’re buying. Service-related costs have risen nearly 40% in the last decade, a rate considerably higher than inflation—so negotiation can be a particularly important way to cut expenses. Try the following negotiation strategies:
- Call around: Before you choose a service provider, call around and get estimates, then use the better rates to negotiate with your current provider. If the provider says no, you can try alternatives.
- Offer to pay cash: Many service providers—even some doctors, dentists, and hospitals—will happily fork over a 5–10% discount to forego the time and hassle that comes with other forms of payment. This is especially advantageous for optional procedures that aren’t covered by your health insurance, such as teeth whitening.
- Bargain as a group: Negotiate your own group rates on services such as lawn mowing and painting by striking up a partnership with friends or neighbors.
| Acknowledgments & Disclaimer |
