10 Tips to Help You Save $1,000 By Christmas

August 9, 2010 · Tagged with Banking and Budgeting 

6. Drop premium cable channels — or drop cable altogether.
Potential savings: $50 – $600. One of the most popular stories we’ve done this year was “You Don’t Have to Pay for Cable,” a step-by-step guide to bypassing your cable company while still watching your favorite shows. Even if you decide against that, however, consider dropping premium channels. They’re expensive and often filled with lousy fare anyway.

7. Sell Stuff.
Potential earnings: $400+. If you’re like most people, you’ve got clothes you don’t wear, CDs you don’t listen to, books you don’t read, DVDs you don’t watch, furniture you don’t sit in — you get the picture. Take it to a consignment shop or a swap meet; sell it online at eBay (NASDAQ: EBAY – News) or craigslist; have a yard sale. If nothing else, donate it and create a tax deduction. But don’t mess up your quality of life by stressing out and trying to do everything at once. Pick one thing (or room) every month from now until the holidays, clear out the clutter and make some money!

8. Save on Food.
Potential savings: $300+. The web is full of tips to save on food. Some will be obvious (use a list), but some might surprise you. For example, did you know that you might find groceries at 50% off at a salvage grocery store?

9. Haggle.
Potential savings: $500+. According to this survey by Consumer Reports, negotiating a lower price is not only possible, it’s likely. What can you negotiate? Pretty much everything. You can call your credit card company and ask for a better interest rate. You can ask for a lower price from your doctor. You can negotiate a lower price on your cable bill. The fact is, you can negotiate a lower price on anything from home electronics to hotel rooms.

10. Carry only cash:
Potential savings: $250+. Try an experiment between now and the holidays. Carry only cash — no plastic. This simple idea can easily result in major savings. The reasons are simple: If you carry only the cash you need to buy what you went out for, you’ll avoid impulse buys. Plus, it’s psychologically more difficult to spend actual money than “plastic” money.

Combine those ideas and you’ll have at least an extra $1,000 by the time the holidays roll around. And if you need more ideas to make it work, the web is overflowing with hundreds, if not thousands, more.

The key is to carve out a little time, check out some resources, decide what you’re willing to try, and get on with it. But remember to avoid anything that might make your life less enjoyable. The key to making it is making it easy on yourself. So if you want an extra grand by the time the holidays roll around, start today!

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