AARP Bulletin - July/August 2010

79 Pay annually, rather than in installments, and you could save as much as 8 percent by avoiding fees.

80 A homeowner’s reduction of up to 10 percent is often available for people 55- plus because they may spend more time at home and can better monitor and maintain their property.

81 Think about raising your deductible from $500 to $1,000 to save up to 15 percent on a homeowner’s premium.

82 Inventory your possessions annually and adjust your coverage. If you gave away expensive jewelry, remove that rider, which typically runs $1.75 to $2 in premiums per $100 in annual coverage.

83 Long-term policy holders may earn a cut in premiums of as much as 10 percent. But that discount may come after years of increases, so check if you might do better elsewhere.

84 Security improvements such as an alarm or fire sprinkler system may cut your homeowner’s insurance cost.

85 Standard amounts of insurance are worth checking out. For example, a $250,000 life insurance policy may have a lower premium than

Puzzle Answer (from page 24)

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Great Ways to Save ;

a $200,000 policy simply because the company’s standard policy is $250,000.

86 Consider ditching a second or third car—along with 33 to 40 percent of your premium.

87 A safe-driving course may get you auto insurance discounts of up to 10 percent. Washington, D.C., and 36 states mandate discounts for people who take a course, which usually costs between $10 and $30. Ask your agent— restrictions may apply.

YOUR TIPS

People can be quite ingenious. Here are a dozen tips from savers around the country.

88 Look at each $1 bill you get and note the letter of the alphabet in the circle on the left half. (These seals denote Federal Reserve regions and run from A to L.) Save bills with a letter of significance to you for specific purposes, such as C for a gift for Carol, or B for a new bicycle. You can easily save $500 or more a year without missing a dollar here and a dollar there. —Leita Spears, Waldron, Ark.

89 Freeze your credit cards—literally. Soak them in water and put them in the freezer to prevent you from using them. —Kip Kiebke, Hartford, Conn.

90 Round up in your checkbook. When I write a check for $13.63, I write it as $14.00 in my checkbook. I do the same thing with debits. At the end of the month, I calculate my savings and transfer that to an online savings account. The change really adds up, and since I don’t see the money, I don’t spend it. —Dawn Carrington, Charleston, S.C.

91 Wait 24 hours before you buy anything that costs more than $100. If you still want it the next day, buy it. Most of the time, you’ll forget what it was. —Marcia Brixey, Silverdale, Wash.

92 Don’t buy canned goods at the grocery until at least half of the ones on your shelf are gone. I find that I often don’t use the cans at the back of the shelf just because I can’t see them. —Balika Haakanson, Kodiak, Alaska

93 Keep condiment packages given to you when you eat takeout food. Don’t steal them, but save them. They add up. —Anna M. Aquino, Kissimmee, Fla.

94 Buy the huge popcorn at the movies for about $6. A small bag is about $4, so instead of buying four small

ones, we buy one huge bag, split it and save $10. —Cathie Ericson, Wilsonville, Ore.

95 Take online surveys from legitimate market researchers in your spare time and make $100 or more a month. —Tricia Meyer, Indianapolis

96 Stick with basic recipes when you cook. New ones almost always add costs for new spices, specific cuts of meat and other fancy ingredients or equipment you’ll never use again. —Tonya Gustafson, Seattle

97 Go barefoot more. You’ll buy fewer shoes. —Jan Patenaude, Marble, Colo.

98 Turn off call waiting. It saved me $5 a month, or $60 a year. —John Ulzheimer, Atlanta

Dandelions
this year?
Mother’s Day
is the second-
largest U.S.
consumer
spending holi-
day, behind
the winter
celebrations
of Christmas,
Hanukkah and
Kwanzaa.

See tip 89.

Average credit card debt among households with balances on their cards: $15,788.

99 Make all your kids wear white socks. When they lose a sock or wear a hole in it, keep the other as a spare. With three kids, it saves our family about $40 a year. —Julie Parrish, West Linn, Ore.