Photo credit: Rachael Ray Show
Aired April 15, 2015
by Lisa Lozano
It’s tax day, and whether you owe big or are getting a hefty refund, we’re sharing 15 money-saving tips that will either ease the pain or help your stretch your refund further.
Tip 1: Use cash and checks to see where your money is really going. -- financial expert Alexa von Tobel
Tip 2: Use apps on your phone to find savings. For example, there are apps that show you where the cheapest gas is, where fee-free ATMs are, and price-comparing apps. – Viewer Tip
Tip 3: Break all of your expenses into “needs,” “wants” and “savings.” You might be surprised that some things that you think are “needs” are really “wants” and can be trimmed. – Bill Rancic
Rachael Ray Show
Tip 4: Use the smallest shopping cart or basket at the grocery store to reduce the impulse to buy items you don’t need. – Melissa d’Arabian
Tip 5: Cook big – prepare large portions to get bulk pricing savings, and then “roll over” the leftovers into multiple additional meals. – Rachael Ray
Tip 6: Before you hit the checkout line when shopping, look at your cart and see if there’s one thing you can remove. – Alexa von Tobel
Rachael Ray Show
Tip 7: If you take a little extra time to prepare dried beans and shred your own cheese, you’ll save a ton on per unit pricing -- couponing expert Cindy Livesey
Tip 8: Credit card debt compounds daily, so make an extra payment in the middle of the month. -- Alexa von Tobel
Tip 9: Freeze your credit cards – literally! Put your credit cards in a cup of water and pop them in the freezer – having to defrost them will curb impulse purchases! – Alexa von Tobel
Rachael Ray Show
Tip 10: Check out the organic produce section first because organic is not always more expensive. Check to see what organic produce is on sale, then move on to conventional. And remember – not all organic produce is created equal. If you’re not using the peel, conventional might be an okay option. – Melissa d’Arabian
Tip 11: Follow these rules to improve your credit score: pay your bills on time, don’t apply for a bunch of credit cards, and if you have several credit cards, spread your debt among them. – Bill Rancic
Tip 12: Use the 50/20/30 rule to make budgeting simple. The way it works is, 50 percent of your income should go to essentials, 20 percent should be saved for the future, and 30 percent should go toward your lifestyle – traveling, gifts, eating out, etc. – Alexa von Tobel
Rachael Ray Show
Tip 13: Stack manufacturer and store coupons to get items super cheap – or even free! – Cindy Livesey
Tip 14: At least once per month, assess your pantry and cook with only what you have on hand, to make sure you’re using all your ingredients. – Viewer Tip
Tip 15: Shop with a list for a higher likelihood you will stay on budget. – Alexa von Tobel
What’s your favorite tip for managing your household budget? Tell us below.