It Pays to Be Frugal

By Jodi Lipson
August/September 2006

Building Financial Security (junio/julio 2006) stash the cash (febrero/marzo 2005)

Saving money—for your child’s education or your next vacation—is easier than you think. Just substitute a low-cost expense for a high-cost one, says Charles González, author of Yes You Can! ¡Sí!, Se Puede: Every Latino’s Guide to Building Family Wealth. Try these ideas...

Groceries
High-calorie junk food often costs less than fruits and vegetables, but jeopardizing your health is no way to save money. Nor is eating less, unless you truly need to diet. Instead, find some simple recipes (check out our new Food channel), make a list, and stick to it! Then:

	Scan weekly newspaper ads for bargains. Use coupons.
	Try store brands. If your family doesn’t like them, you can usually get a refund.
	Buy in bulk. Even the smallest homes have space for a dozen cans of soup or a big bag of rice.

Gas
Visit GasBuddy or AAA to locate gas stations with the lowest prices. Other pointers from the American Automobile Association:

	Slow down. Each 5 mph you drive over 60 is like adding a dime to the cost of a gallon of gas.
	Close your windows on the highway. The drag can reduce gas mileage by about 10 percent.
	Keep your tires properly inflated. Underinflated tires can cost up to two miles per gallon.

Coffee
Switch to home brew. Boutique coffee shops can set you back hundreds of dollars a year.

	Buy the cheap stuff. A survey by Consumer Reports rated Eight O’Clock Coffee whole bean Colombian second only to Caribou’s, at half the price.
	Try a new home machine where you insert a single-serve “pod” of your favorite brew. You’ll have a wider variety than the coffee shop, never need to clean a filter, and pay about 30 cents a cup.

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