• Plan your meals for the whole week and create your grocery-shopping list based on the ingredients needed to prepare those meals. Menu Planning Central has created a simple solution for meal planning and a grocery list creation. I love this simple online software! Their trial membership is basically FREE ($0.01), then it is about $7.00/month.

• Make your shopping list based on what you need. It will keep you focused and it will prevent impulse buying. Do not buy an item just because it is on sale, only stick to the items on your list.

• All financial gurus and hopefully your own common sense tell you- Do not go grocery shopping when you are hungry. I have done it myself before and I must tell you first hand when I am hungry and I walk in to the supermarket, I start drooling and my eyes tear up. Then I just start grabbing anything that looks good to me. These days, to curve my hunger, I have a snack before I go grocery shopping.

• Start paying attention to the “private-label” store brands. A lot of manufacturers use the same exact recipes for brand names and store brands. It is all in the ingredients. Compare those products yourself the next time you are at the supermarket.

• Why not sign up for the store’s savings card? This is probably one of my favorite ways of saving money and seeing savings right away. A few years ago, I was standing at the check out and the shopper a front of me said while paying for her groceries “Wow, today I save $40.00 dollars! I am going to put that money in my piggy bank, this way I know I saved.” I took a note to myself and started doing it too. Every time I shop, I use my store card, then, when I get home, I transfer the amount of money I saved in to my savings account. It sure does add up!

• I never liked using coupons before, but now I can’t get enough of them. This is not being cheap- this is being frugal. I remember a while ago I read an article about a woman who spends just about $10.00 on $400.00 worth of groceries. My jaw dropped, when I read it, and it took me some time to get it off the ground. She had copies of her receipts posted and all. She used a lot of store and manufactures’ coupons. Simple. I am not that good yet at saving with the coupons, but I am getting better. Coupons! Save Money, Be Happy!

• Here is an easy one for you: Do not buy anything other than groceries at the supermarket. The prices on other products such as shampoos, toothpastes, cleaning products and such are way high. Go to Target or Wal-Mart to get those.

• Try shopping at the farmer’s market for your fresh produce. Farmer’s markets have fresh local produce and sometimes organic for a lot less.

• Go grocery shopping no more than once a week.

• Stay away from prepackaged meals and frozen TV dinners. Stick to your grocery list that you create based on your planned meals.

• If you like buying in bulk then only buy your staple foods in bulk. Avoid buying perishables in bulk (what a waste of money).

• I know, I know, some of you will hate me for saying this, but have you ever considered cutting down on your meat intake? There are a lot of different ways to replace your meat as a protein source. Beans anyone? They are delicious and healthy. Your body and wallet will appreciate it.

• Avoid buying cold cereal. They are usually packed with sugar and processed carbs, some of them do not have much of nutritional value. Why not opt for whole grains such as oats, barley, quinoa, wheat, kamut, etc.?

• Buy seasonal fruits and vegetables.

• Instead of buying bottled salad dressing, why not make your own? I personally sprinkle my salads with lemon juice and add some olive oil, salt and pepper. So yummy! Or if you want, make something a little bit more elaborate.

½ cup of canola oil

½ cup of lemon juice, or vinegar, or water if you wish

add chopped onion and garlic, salt, pepper and any other herbs or spices your heart desires
let it marinate for a couple of hours and then ENJOY!

Share your money saving grocery-shopping ideas. How do you save?

Here’s how: Clean up your credit score.

Seriously, I’m not going to harp on about how stellar credit means paying less interest on loans, qualifying for lower insurance premiums, and sailing through things like landlord and employment background checks. You know that already.

Instead, I’m going to let cold hard cash do the talking.

The table below illustrates the difference between what someone with a good credit score (e.g. 720 and above using the FICO scoring system) and someone with poor credit (less than 620) pays over the course of 30 years on a $150,000 mortgage. See for yourself:

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This recession has brought to light dumb money management practices, forcing just about all of us to confront our financial foibles.
Maybe, for instance, you’re one of the ones who panicked and sold during the market bottom. Or, you believed housing prices were guaranteed to rise.

The federal government is tapping behavioral economists — experts on why we humans make the money judgments we do — to help devise regulations so that people don’t take on unaffordable mortgages and to help them understand their actual credit card fees.

But these efforts just scratch the surface. Here are four common mistakes that surfaced during this economic turmoil, and fixes that we can put in place to prevent ourselves from making the same costly error again:

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Simple math suggests it’s better to get rid of debt before saving for retirement or an emergency fund. After all, if the savings rate is 1 percent and you have credit card debt at 14 percent interest, money is better spent paying down debt quickly.

“Like everything else in life, this decision is one of balance, not of absolutes,” says Michael Rubin, president of Portsmouth, N.H.-based Total Candor, a provider of financial education.But personal finance decisions are rarely so simple, and this method may not be the right choice for everybody.

Dean Barber agrees. The host of nationally syndicated talk radio program “America’s Wealth Management Show” says there are pros and cons to each approach.

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We looked for primo goods and services, no useless junk allowed. And boy, did we find ‘em, from financial management and planning helps to entertainment and vacation freebies.

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Are you thinking about consolidating your debt? This is becoming very common among consumers in the United States. But even though consolidation can be a good thing you need to know that there are a few drawbacks as well. Knowing both the pros and cons of consolidation is an absolute must if you are going to be sure that you are making the right decision.

The main benefit of consolidating is the money saving feature. When you have only one loan you are going to save on interest charges. And for many people this means a savings of hundreds of dollars per month. Would that free up enough money for you to get by? Another benefit of consolidation is that you only have one loan which makes the process of managing your debt less stressful.

On the downside it is important to note that some debt cannot be consolidated. This is secure debt such as a car loan, mortgage, etc. Anything that is secured by an object, such as a car, cannot be consolidated with other debt.

Also, if you are going to hire a consolidation firm you should realize that they will be taking a chunk of change off the top. Since they are the ones setting up the process and more or less helping you consolidate you can be rest assured that they will charge you a fee. Do you want to pay just so you can consolidate some of your debt?

With the pros and cons of consolidation in front of you it is time to make a decision. Are you going to consolidate your unsecured debt such as credit cards? Are you going to continue to do everything on your own, and pay down your debt separately? Only you know if consolidation will help or harm your finances.

Are you the type of person who spends money on non-essentials and puts the necessities on the back burner? If so, you are running your finances in a backwards manner. You should be spending on the necessities first, and only buying non-essentials if and when you have extra money for doing so.

Some people find it difficult to determine what they “need” to spend their money on and what they “want” to spend their money on. The necessities in life include those items and services that you cannot do without. For instance, food and shelter are necessities. You should make sure that you pay for both of these items before all else. To go along with this, clothing and utilities are usually considered necessities as well. But of course, this does not mean that you should spend all of your money so you can have a celebrity wardrobe.

If the above are the necessities what are the non-essentials? Many consumers spend entirely too much money on entertainment expenses. If you don’t have the money to eat out and go to the movies twice per week you need to cut this out of your budget. The same goes for buying items that you don’t really need such as a big screen television, a gas-guzzling SUV, etc.

Do you have a budget? If so, you should be able to review it to see where your money is going. This will give you an idea of whether or not you are spending your money on necessities or non-essentials. Consumers who don’t follow a budget may never realize they are spending money on the wrong products and services.

Along with the help of a budget, the most financially successful consumers know the difference between what they want and what they need. Where do you fit in?

For some people, budgeting comes as second nature. But others are not as blessed with “financial prowess” and need to do some extra work. Setting a budget is easy enough, but when it comes to following your budget you may be in a little bit of trouble. Anybody can say they have a budget, but only those who are truly interested in financial success will follow it.

Here are three basic budgeting tips to guide you:

1. Know your income. This is one of the most important numbers for setting a budget. You need to know how much money is coming in each month so you can determine how much money you can comfortably spend. Remember to count all income including your primary job, secondary jobs, etc.

2. Know your expenses. Just as you need to know your income you also need to have a good feel of how much your expenses total. One rule of thumb: you should not be spending more than you are earning. If so, you are either taking money from your savings or using a credit card; both of which will harm you soon enough if you continue.

3. What are you going to do with your savings? The difference between your income and expenses is extra money that you have each month. What are you going to do with it? While the choice is yours you may want to think about starting a savings account, emergency fund, or paying extra on your debt. Consider all your options to ensure that your “extra” money is being put in the right place.

The above tips are perfect for anybody who is planning their first budget or those who need to get back to the basics. No matter who you are the basics of budgeting include knowing your income, expenses, and what to do with your savings.

Have you ever heard the phrase that some debt is better than others? While this may not make sense at all, and it is hard to believe, this is a true statement. The fact of the matter is that there is a big difference between good and bad debt. Do you know the difference? If not, you are not alone.

Good Debt

There are a couple types of good debt and the most common are student loans and a mortgage. Why are student loans considered good debt? Simply put, when you take out this type of loan you are taking steps towards bettering your life. Once you get out of school and have a degree you will be in position to secure a good job and hopefully pay back your loans sooner rather than later.

A mortgage can also be good debt. The reason for this is that you are paying for something that usually appreciates in value. To go along with this, your home is where you live. Why put money into renting a place when you are not going to get anything in return?

Bad Debt

The most common type of debt is credit card debt. Why is this the case? For one, you don’t need credit card debt. You should never pay for anything with a credit card unless you can afford to pay it back in two months at the most. If you don’t pay off your credit card bill you are going to rack up large finance charges.

Are you thinking of applying for a home equity loan? This is a bad idea in most cases. Your first mortgage can be considered good debt, but when you move into a home equity loan you are making a mistake as this is no longer a solid money move.

Now that you know some types of both good and bad debt you should be able to put yourself in a better financial position.