Save Money-- Uncertain Economic Times--Part Two

Prepare for an Emergency
If you don't have a home equity line of credit, you may want to set one up to use only in an emergency. "Some lenders charge an annual non-usage fee of about $50," says Keith Gumbinger, vice president of HSH Associates. "But it's cheap insurance. You can borrow about 90% of the value of your house, so if you have a 70% mortgage, you may get a credit line for another 10% to 20%."
Tighten Your Belt
Cut expenses even if you're not in danger of losing your job and use the extra money to pay down credit-card debt, says Lorretta Nolan, a financial adviser in Old Greenwich, Conn. If you get laid off, it'll make life easier. "Eat out once a week instead of three times. Buy a slow_cooker pot, and in a year you'll probably have a 1000% return on your investment."
If you carry a card balance, comparison-shop online to check if your rate is competitive. If it isn't, ask the issuer to lower it. Many card issuers will comply.
If you bought your house in 2005 or 2006 in an area where values have since plummeted, petition your county tax board to reduce your property taxes. If you can show that the house is assessed at more than its current value, you may trim your tax bill.
Review Your Investments
Money you'll need within the next few years should be in CD's or a money market fund. It should not be in stocks, bonds or a no interest checking account. " You can get 4% to 5% on your savings today," says Nolan.
Make sure your longer-term investments are well diversified. Your retirement accounts should include at least four types of mutual funds: big company U.S. stocks, small company U.S. stocks, international stocks and high-quality bonds. And don't keep more than 10% of your investments in the stock of your company or industry. It's risky to keep your paycheck and your nest egg in the same basket!
Hope this article by Lynn Brenner at Parade magazine helps.
Personal Note
Did some grocery shopping at Bi-lo and Food Lion today. Used most of my coupons at Food Lion. Groceries totaled 39.49 before coupons and in store sales were subtracted. The bill came to 20.49, not bad .
Savings as of 1-6-08 $13.41
Savings today $26.91
Year to date $40.32
Take a little time match the sales with coupons you have for even bigger savings. But remember, it's not a bargain if you don't need it.
Happy savings!!!!