Check out this great website for showing how much you’ll save!

http://www.mge.com/home/saving/thermostat.htm

We have also added plastic to our dining room windows (all the other windows have insulated curtains on them), better seals around our doors, bought a space heater so that our bedroom is warmer at night when we turn the rest of the heat in the house down (aren’t sure about this one yet so we’ll see!), and have begun to seal drafts in the home. With all of these tips and reducing our thermostat by at least five degrees during the day and up to eight degrees at night we are hoping to shave a good amount off of our heating bill. We are bundling up with long sleeve shirts, sweats, socks and blankets to stay comfortable but are finding that we are slowly acclimating to the lower temperatures as well.

What do you do to save money on your electric bill?

Get more frugal living tips in one handy ebook by purchasing The Frugal Home ebook from Amazon!

The Frugal Home – A Collection of Frugal Living Tips – only $2.99!

I am so excited to share the Frugal Home with all of you in a Kindle book! I spent a great deal of time compiling the best tips and advice from my years of frugal living and writing this website. For only $2.99 you can get all of the best frugal home tips and advice all in one book!

The Frugal Home book has frugal tips on beauty and bath, budgeting, cleaning, debt, decorating, entertainment, food, grocery shopping, health care, holidays and events, children, environmental tips, remodeling, home and yard work, and weddings.

Hope that you enjoy your read! Click the link to get the book!

The Frugal Home Ebook

Netflix is a great alternative to having a monthly cable or satellite bill. Many of the TV shows we watch on cable can also be found on Instant Netflix, along with movies, documentaries, and kid shows. You can get Instant Netflix, without any movies mailed to you, for as little as $8.99 a month. If you can get a cable bill cheaper then that then let me know!

Even those who think they are unable to create a family budget can make something that they and their family can stick to. A family budget is just that, a budget that works for the entire family, and with a little work you can create something that will leave you all satisfied and working toward a better financial future.

Get ready to make some lists!

Make a list of each of these items to start your family budget :
Your total household income. This includes each person who contributes financially to the home, whether it be recycling cans or a full time job.
Your total household monthly expenses, including minimum payments to credit cards. Don’t just list the bills. List every penny you spend each month from the electric bill to your coffee in the morning and the pack of gum at lunch. This is also the time to come clean on any bills you have been hiding from your spouse. You can’t budget if you aren’t honest with each other and yourselves.
Total Debt. This means all of your debt, from your home to your credit cards to the money you borrowed from your brother.
Financial Goals. Giving yourself a goal is a big help when it comes to sticking to the family budget you create. Choose small and large goals such as paying off debt, going on vacation, buying that shirt you want, or buying your first home.

Take your expenses and subtract it from your income.

Look at your expenses and decide on ways that you as a family, can trim your budget. Perhaps lunches can be taken to work instead of eating out or you can get your hair cut every two months instead of every month. You may even need to look at drastic cuts if your expenses are more than your monthly income. Don’t be averse to getting rid of a car, the TV, or your yearly vacation.

Work on your budget until you have a surplus. Any surplus will work but a significant one will work better. If you cannot get to the point of having a surplus by cutting expenses then you have to increase your income, even if that means getting a second job, even a work at home job such as the text service ChaCha.

Once you have a surplus you will want to build up an emergency fund of at least $500. Once you have reached the $500 you can keep putting money in your emergency fun but also allocating a good portion of it to your debt. Snowballing your debt is a great way to reduce your debt.

Don’t forget to be realistic and give yourself a chance to get used to your new way of working with money and make adjustments up or down as necessary. Monitor your spending, daily if needed, to keep you on track.

Photo By : Srbichara

You would think that after years of writing about, and living, a frugal and financially responsible life that I would never find myself with a negative financial situation. But it happens to the best of us. Even I can spend too much money.

With the Big News arriving between now and whenever, we had to get our bathrooms remodeled as they were giving off a moldy smell. Its a good thing we did because there was some mold and we were able to get the leak(s) fixed and replace all the plumbing. We have now replaced almost all of the plumbing in our home.

Because of this, we were not only not able to pay off the little debt we had but we had to spend to get the bathrooms up to par, thousands of dollars worth of spending. And then we bought a $6000 truck. With a loan. Ack! I could make excuses about how it was difficult for me to get anything done when I didn’t have a vehicle to drive or how we needed a truck to clean out our garage.

None of that really matters though. If you had come to me with the same scenario I would have told you to wait and tough it out (not on the bathrooms, you can’t wait with mold and leaky pipes, that costs more financially and with your health!). A do as I say and not as I do scenario.

We are back aboard the frugal train and are trying not to spend too much money in any area. We have buckled down and we are on a plan to have all of our credit card debt paid off by June, have a $1000 in the bank as an emergency fund and then pay off the truck.

Being financially responsible isn’t always so much about doing the right thing all the time but about fixing the wrong things and making them right.

Photo By : Sigurd Decroos

Car insurance — Shop around. You may not be able to control it going up but you can try to control how much it goes up. You may also want to consider becoming a one car family to save.
Chocolate — Chocolate lasts a long time. Dark chocolate can last five years and milk chocolate can last a year, solid bars of course, nothing with fillings or extras. Buy chocolate now as the after Christmas sales dwindle and wait until after Valentine’s to stock up again. Buy when its cheap and you’ll have chocolate year round! Store in a cool, dry place.
VoIP services — Again shop around, including traditional phone companies to find the best deal in your area.
Airfare — Vacation on off times or choose to stay closer to home and not fly at all.
Cars — Choose to become a one car, or even no car, family. This isn’t always possible so try to keep the vehicle you have in good running order and if you have to buy, look for a dependable used car with good gas milage.
Nintendo 3DS — Just wait. The price will come down and this is by no means a necessity.
Health Insurance — You can’t just say no to health insurance so shop for the best rates, and if you don’t have an option, start saving now to help offset costs, or up you flexible spending account to help you cover costs.
Breakfast — It is the most important meal of the day so you can’t just skip it. Opt for cheaper options like oatmeal instead of bacon. I only use bacon to season, we no longer just eat it for breakfast. Stretch your eggs with omelets instead of eating two or three yourself. You don’t have to have milk, water or hot tea works just fine, but if you have to have it then portion it out so everyone gets one cup and no more.
Coffee — My husband would tell you this is a necessity so if you can’t do without then do it at home. Purchasing a machine for your kitchen counter will be much cheaper in the long run than picking it up from the local coffee shop.
Music — There is a lot of free music out there, not to mention the free song that many places give away each day. Check these out and you may be surprised to find some great songs and bands you wouldn’t have otherwise. Make a list of what songs you want and allot a specific amount each month to music.
Dollar Menus — What are you shopping from the dollar menu for anyway? Make up some food from home and you’ll save even more money, and your health.
Credit Cards — Pay them on time, read the fine print, and pay them off. Just get rid of them as quick as you can and keep them only for real emergencies, not I have to have that new video game emergencies.
Refinancing — If it is worth it in the long run and you will be staying in your home then you should refinance but if not then just try to send more each month. We pay forty dollars more than our payment each month and making an extra payment once or twice a year can make a big difference.
Sports Ticket Prices — Choose a game or two that you just can’t miss and go to those. Otherwise, stay home, invite friends over and have a potluck.
College Tuition — Consider community colleges, push your kids for scholarships, and don’t think that you have to pay for everything. They may have to go to school and work and it might take longer than four years.
Water Rates — Watch how much water you use. Don’t just let the faucets run and fix any leaks as soon as you find them. Use the dishwasher or laundry only when you have full loads. Use a grey water system to water your yard or plants.
Postage Rates — You shouldn’t be mailing bills anymore, pay them online or over the phone and save on the cost of a stamp. I only buy stamps to mail birthday cards and I try to hand them over in person when possible.
Gold — Melt down your jewelry. Just joking! Though it could be worth it if you have a bunch of gold you don’t like. Investing in gold may be for you or you may want to think twice about getting that gold necklace.
Ammunition — Stock up, prices are just going to go higher due to metal prices increasing and conflict in the Middle East.
Movie Ticket Prices — We only go to the movies once or twice a year and that is often for a 3D movie I badly want to see on the big screen. We budget this in. Otherwise, stay home, borrow movies from friends, or purchase at least Instant Netflix for thousands of movies and shows.

Image from Leonardini

Look for after-Christmas sales and stock up on items like wrapping paper, gift tags, and gift card holders. I will often pick up a few ornaments to give away the next year as well. I love to give an ornament with a gift card or just as an add-on gift and I was able to pick up several awesome ones for about 25 cents each this year!

Set up a holiday account, whether through a holiday account at your bank, in your regular savings, or even a shoebox in your closet! Think about how much you spent this year at Christmas, divide it into ten or eleven months (depending on when you start Christmas shopping), and start saving each month. Sitting back your holiday money will make you feel so much better when the holidays roll around next year as you won’t have to stress about coming up with the money in the middle of all of the holiday parties, events, and big payments such as end-of-the-year taxes.

Save what you can, even ten bucks a month will give you $100 in ten months. You could at least buy gifts for your kids or closest loved ones.

Do yourself a favor and put a little thought into Christmas this January and you won’t have to put so much thought and stress into it when the time comes!

A few pieces of information can help you use online loan calculators.

* Total loan amount
* Loan term
* Interest rate
* Loan start date

This information will allow the online loan calculator to tally your monthly payment. This lets you get an idea of what you can afford before you go shopping. Make sure, if you don’t have a good idea of what interest rate you will receive, that you play around with the interest rate as well as it can drastically change the monthly payment. This is also great as it gives you some ammunition when you go in for a loan as you can confer with your banker if you need the interest rate to lower a quarter or half a point or if you need to extend the loan if possible.

Extra payments can have a big affect on your loans and many online loan calculators will help you see what those extra payments can do to the life of your loan. Extra payments can take time off of your loan and can save you a great deal in interest.

Search for the many varieties of online loan calculators such as mortgage, vehicle, or credit card debt calculators. These calculators can help you decide how much of a loan you can afford, the length of your loan, income required, and how much of a down payment you will need.

The best loan for you and your family is out there and if it isn’t currently, an online loan calculator can help you make that decision before you even begin the paperwork process.

The key to good debt management is starting out good. While this isn’t realistic for those of us who already practiced bad debt management, if you are just starting out you can save yourself a lot of heartache, and money, if you practice responsible spending habits from the start. If you are coming to good debt management late, like my husband and I did, then make changes now, don’t put it off any longer.

* Search for credit cards that do not charge an annual fee. You may have to do a little research if you have little or no credit history but it will be well worth it in the long run. These fees can cost you $50 a year so finding credit cards without them will save you a great deal of money.

* Look for cards with the lowest interest rate. While you may not be able to get the best interest rate when you first begin to get credit, after six months to a year of paying on time you should be able to look for a lower interest rate card. Once you have the low-interest card, quit using the high-interest card but do not close the account as closing the account would have a negative impact on your account.

* Try not to carry a balance. You should pay your balance in full each and every month, if you cannot then put all of your extra to it so that you pay it off within a few months. If you use your card for a same as cash deal then make sure that you pay it off before the interest comes due.

* Set up a savings account. Just a few hundred set aside in a savings account can help you in most emergency situations such as needing a new tire for your car, especially if you then don’t have to charge the bill and pay interest on it. The best savings account will have at least three months worth of income saved so that if you lose your job you have time to find a new one and keep up with your bills but having something is much better than having nothing.

* Save for items. This is a hard one for many of us as we live in a society where we get what we want when we want it. Saving for the things we want will not only save us money but it will also help you feel better when you have a piece in your home that is paid for instead of a piece that you owe money on.

* Stay on top of your debt. If you find you will not be able to make a payment or payments then call your creditor immediately. Some will let you skip one payment while others may lower your payment in order to help you continue making payments. Don’t make it a habit. Make sure that you call because if you ignore your bills they will just get worse.

Life is easier when you practice responsible debt management. Keeping your credit good and paying your bills will actually allow you to have more in the long run.