According to the Consumer Literacy Consortium, you can save money without slashing your budget. It requires a bit of work on your part, like making phone calls, doing a little research and comparing prices, but the results are worth it.
The Consumer Literacy Consortium is made up of federal and state agencies, consumer groups, business organizations and educational institutions.The booklet, called "66 Ways to Save Money" (item 394B, 50 cents) is available by sending 50 cents to the Consumer Information Center, Dept. 394B, Pueblo, CO 81009.
One area where it pays to take the time to compare costs is home repairs, which often cost thousands of dollars and are the subject of frequent consumer complaints.
To get good work at a fair price, select from among several well-established licensed contractors who have submitted written, fixed-price bids. And don't sign any contract requiring full payment before the work is completed to your satisfaction.
Another money-saving tip: When you're making roundtrip airline reservations, arrange your trip to include a Saturday night stayover. By doing that and purchasing your tickets in advance, you can lower your fare by up to 2/3rds.
The booklet also discusses utility costs. Here are a few ways to save on electricity, heating and telephone services:
- Make sure any new appliances you buy, especially air conditioners and furnaces, are energy efficient. The appliance's energy efficiency rating is found on the Energy Guide label required by federal law.
- Save money on your local phone bill by dropping optional services you don't use or need.
- Make long distance calls during the evening, at night or on the weekend. It costs significantly less than calling during a weekday.
- Subscribe to a calling plan that will probably save you money if you make more than a few long distance calls each month. Contact several long-distance companies to see which has the least expensive plan for the calls you make.
- Identify ways to slow or eliminate heat and air-conditioning loss around your house.
You can also save money on car rentals (check with your automobile insurance company and credit card company in advance to avoid paying for duplicate coverage); mortgages (shop for the shortest term mortgage you can afford); and prescriptions (ask your physician and pharmacist for generic drugs when appropriate).