Great Tips from Guest Blogger Maureen Campaiola

My website and blog is devoted to saving money, spending wisely and changing your overall relationship with money.

Good deals abound and money can be saved in a variety of locations you just need to know where to look and how to ask so you are not wasting your hard earned dollars.

1. Buying Bottled Water

Now I know some of you hard core bottled water freaks are going to give me a hard time on this one, but listen up.

Did you know the top two waters in the country (Dasani and Aquafina) have openly admitted that they are just purified and nicely packaged tap water, making bottled water a fantastic way to waste money?

Yup, that’s right they are just fancy packaged tap water.  So if you are buying Dansani or Aquafina consider making a small investment and buy a water filter such as a Brita and stop buying water that was always essentially free to begin with.

2. Overdraft Protection

When new laws mandated that overdraft protection change from opt-out to opt-in service America’s banks launched a ferocious campaign encouraging customers into overdraft protection and all of its accompanying fees.

Well, it worked because more than 75% of the people using debit cards have opted in for the overdraft protection according to economic research firm Moebs Services.

According to Michael Moebs, economist and founder of the firm, “Just because people are signing up for overdraft protection doesn’t mean they like the fees.  Many just don’t have the resources to go without it.”

Here’s the problem – overdraft protection costs you as the consumer a whopping $35 each and every time you swipe your card and don’t have the money to cover the expense.  If you have 10 of these transactions a year you just wasted $350 dollars.

If you have opted in to overdraft protection call you bank and remove it immediately and get a handle on you money situation.

The only reason someone needs overdraft protection is because they are ignoring their finances.  If this sounds like you, stop ignoring and start paying attention – today.

Here’s a few things you can do right now:

1. Sign up for online banking if you haven’t already.
2. Log in each day and check your balances so you know exactly where you stand.
3. Start paying your bills at the same time each month in order to develop a rhythm and pattern.  You can find out more about this strategy in my FREE report, “Clearing Money Clutter”
4. Develop a budget and stick to it.

3. Paying For Unnecessary Services

We all have ‘em and many go unused.  Stop and think about this.

• How many cable channels can a person watch?
• Do you need ever single extra feature on your cell phone?
• Are you using your gym membership regularly?
• Do you read every magazine that is dropped in your mail box?
• Are you taking full advantage of your Netflix, or TiVo subscriptions?

Now, take a look at what your family is using and make decisions based on actual usage.  What you don’t use, get rid of.  This could save you more money than you think.

Remember, plugging your financial leaks can and will save you big money in the long term.  Money better spent on reducing debt, investing or finally breaking free from the living pay-check to pay-check cycle.

Maureen Campaiola is CEO of Breakthrough Your Money BS.  A recovering spendaholic, chargaholic, and someone tittering on the brink of bankruptcy, Maureen faced her money drama head on and now enjoys the freedom only true money recovery can bring.  She changed her money story…and she’s here to help you change yours!  www.breakthroughyourmoneybs.com 

 Maureen Campaiola, Certified Money Breakthrough Coach