Quig Tips

 

QuigTips

This year we're going to give you $12,000 worth of QuigTips to help you fund your IRAs, 529 accounts or whatever other savings goals you have!  These QuigTips will be on www.SquigleyFinancial.com, on our Twitter and Facebook @SquigleyCFP, as well as in this newsletter which will be monthly!

Auto/ Insurance

  • If you're looking to drop your annual auto insurance premium, taking a defensive driving course can drop your annual premium by 10% depending on your insurance company! That's an average annual savings of $155.
  • Improving your home security with monitored security systems can decrease your annual premium by as much as 5%. Some insurance companies will even offer a discount of 20% for an in-home sprinkler system to combat fires. On average this can save you anywhere from $60 to $240. Check with your insurance agent before making any purchases to ensure you get your discount.
  • Ask your car insurer what they use to calculate your rate! Your driving record? Your credit score and payment history? Your education level - wait -what? your job title? huh? Not all companies do, but those that do can punish you by $150 to $450 a year for having no college degree or a blue collar job. The good news, not all companies do, so shop around!

Food/Drink

  • If your answer to your coffee addiction is a couple of trips to the coffee shop everyday just know that you can save up to $1,500 a year by bringing your two cups of coffee from home. With the advances in thermos technology, you can reliably keep an entire pot of coffee hot from sun up to sundown.
  • Whether you need to slim down your waist or your wallet, swapping out your beef for beans may be the move for you. By swapping out your proteins for plant based options once or twice a week, you can save an average of $750 a year.
  • K-cups are a quick and easy way to avoid the coffee shop and save yourself some time at home or in the workplace. However, buying a new box of K-cups every time you run out can cost you an arm and a leg. By buying a set of reusable K-cups that can be refilled and rewashed, you can potentially save $300 a year. 
  • Swap out your sparkling water for tap water at restaurants when you go out to eat and save $540 a year, assuming you eat out once a week.
  • Make your lunch at home! A single lunch from a restaurant can cost upwards of $7, but a homemade lunch only costs about $3. By make your lunch at home just 3 days of the week, you can save more than $500 a year!

Shopping

  • Swap out some of the your toiletries for the generic versions and you can save over $200 a year! Keep the brands you really love, but decide if you really would notice if the blade that shaves your leg is generic or a name brand. Is it worth twice the price?
  • If you are thinking of making your home office GOAL permanent and need a better printer, think of switching to one with a reservoir instead of one needing cartridges. This can save you over $300 a year in ink! Check out the Consumer reports

Coupons/Apps

  • Did you join the seemingly half the country that adopted a pet during the pandemic? There are many ways to pay for all the needs of your new family member! Almost all major stores have reward programs and pets need several items regularly, so it's definitely worth joining. Look for other bonuses for grooming programs, curbside pick- ups, online ordering, coupons and frequent buyer programs from pet food brands for 10-25% off. That can save you $300 a year!
  • Using money savings apps like GasBuddy can show you the cheapest place to get gas in your neighborhood, and give you discounts at local stores. Users saved an average of over $200 a year just doing the same shopping they already do.
  • Download coupon extensions onto your web browser and never pay full price for anything! Extensions such as BeFrugal, Honey, Rakuten, InvisibleHand, and Capital One Shopping scan the internet for coupons at every checkout and give you the best deals possible. These extensions can sav eyou an average of $150 a year and give you up to 40% cashback on select purchases!

Subscriptions

  • Cable and Internet companies will generally charge you a $15 “router rental fee” for every month you are subscribed to their service.  Buying your own router may cost a little more upfront but can save you around $180 per year.
  • Have you checked your credit card statement lately? You could be paying for unused subscriptions or services you forgot to cancel after the free trial. Cancel any unused services and save around $100-200 a year!

Banking

  • Use ATMs specific to your bank. Other financial institutions charge up to $3 per withdrawal, which may not seem a lot, but it can add up over time. By using your bank-specific ATMs, you can save up to $150 a year! Or look for banks that offer flexibility such as allowing you to use convenience store ATMs or ones that will refund your fees if you have a sufficient balance. 

Home

  • Switch to LED light bulbs! These light bulbs can go 25,000 hours without needing to be replaced and only use 10W of electricity. Switching to LED light bulbs can save you aroudn $150 dollars a on electricity and light bulb replacement.
  • Clean your dryer lint screen! A clogged lint screen can cause your dryer to use 30% more electricity and reduce efficiency. By cleaning your lint screen after each load, you can save over $100 a year on electric bills!
  • Unplug your appliances! Many appliances use up energy even when they're turned off, leading to phantom energy and a high energy bill. You can use a power strip to easily turn off the unused appliances. By unplugging, you can save an average of $150 a year!
  • Swap out paper towels with discloths! Not only is it better for the environment, but you can also wash and resuse the dishcloths. By switching to dishcloths, you can save up to $260 a year!

Scams

  • Venmo Scam: Check before you hit send! A friend sends you an "emergency" message - they are in a cab, online, wherever and they don't have enough funds. They ask you, "Can you please send me $50 or $100 bucks?" Scamers have been using this tactic and stealing people's profile pics and making very similar names to make everything look legit and VENMO doesn't care. No FRAUD protection. CALL YOUR FRIEND FIRST!