That said, we encourage you to write in and let us know about unusual or helpful ways you’ve come up with for saving money.

The featured conversation for today has less to do with saving money and more to do with not wasting it in the first place. Below are the top three ways to plug leaks in your spending habits.

1. Skip the drink. When you go out to dinner and order any kind of beverage, you pay around 200% more than you would for that same beverage from the grocery store. Drinks that cost $2 - $3 per meal add up over time, so consider ordering refreshing (and FREE) water instead. Alternately, order something with free refills. This at least ensures you get the best value for your money.
2. Shop around for gas. Gas prices can vary up to 20% between gas stations within walking distance of each other. Saving 20-cents a gallon on 50 gallons of gas per month saves you $10 per month or $120 per year, so take the extra minute to scan prices before buying fuel.
3. Forget the tax refund. Even though it’s nice to get a fat check from Uncle Sam come tax time, it’s actually a sign you’re not making the most of your money. Fix this problem and save money by adjusting your tax withholding amount with your employer. That way, your money doesn’t languish in government coffers for a year. This means you can make use of it (or start gaining interest on it) sooner rather than later!

One of the ways you can do this is by watching what you spend on pet care.

Great ways to save money when caring for your pets

1. Keep your pets lean and trim. Make sure your pets get regular exercise and don’t overfeed. When your pet is at a healthy weight, he or she runs a lower risk for illness and vet bills.
2. Play a bigger role in pet care. If you learn to care for your pet yourself, you’ll save big. Nail trimming, bathing, and brushing your pets teeth are all easily learned and safe to do at home.
3. Work with your vet to cut costs. While you don’t want to skimp on “well-pet” exams, you can ask for a little wiggle room in vet fees. If your pet needs a prescription, ask your vet to write it out instead of having it filled at your regular clinic. You’ll probably be able to find a cheaper price at a local pharmacy or online.
4. Look for great buys. Pet foods go on sale just like human foods, so look for discounts and coupons. And when it comes to pet toys, don’t jump for the designer brand. Figure out what you can make at home for cheap. For example, a sock with multiple knots in it is just as fun for a puppy to gnaw on as a colorful, store-bought rope.
   

#1:  Shop and compare prices

There aren’t any hard and fast rules about car insurance prices, so most companies will charge as much as they can get their customers to pay. This means prices can vary quite a bit between companies, so the number one most important rule when you need new car insurance is to shop around.

To shop and compare price quotes, you can either look up quotes from a company website or call them directly. You may even be able to get price comparisons by calling your state’s insurance department. Many times they’ll have price ranges charged by the major insurers in your area.

It’s also a good idea to shop and compare offers from different types of insurance companies. Look at businesses that sell auto insurance exclusively and compare them to companies with every kind of policy under the sun. You should also consider companies that sell through their own agents versus agents who sell policies from several different companies.

For the most part, it’s good to look into at least three price quotes. Go for more if you have the time. And while you’re at it, ask for referrals from friends and family members. If someone you know has had a great experience with a particular company, chances are you will too.

#2:  Ask for a higher deductible on your policy

A tried and true way to lower the cost of your auto insurance is to raise your deductible. True, this means you’d have to pay more if you ever did go through any kind of accident, but the upside is that the chances of that happening are very slim.

In contrast, you’re guaranteed to have to pay a monthly premium for your auto insurance, so if you work out a high deductible deal that lowers the cost of your policy, you’ll save quite a bit over time.

#3:  Combine insurance policies

Many insurance companies offer discounts if you have multiple policies. You can ask about these discounts when you’re calling around to shop prices, but it’s also a good idea to contact your existing insurers.

Take a look at every company that holds existing policies for you. From life insurance to homeowner’s insurance to liability insurance, any one of the companies that offer those policies may cut you a deal on auto insurance. Even better, if you sign on with them for an auto insurance policy they might lower the cost of your existing insurance policies.

#4:  Dig for discounts

Plenty of auto insurance companies offer other types of discounts, though in most cases they don’t advertise them. This could include a senior discount, a low mileage discount, or a discount for membership to various associations.

Often times you can’t find out about these discounts by visiting the website of an insurer, so call directly and ask about any discounts they offer.

#5:  Keep your credit record spotless

More and more, insurance companies are digging into credit information before they price policies for new customers. This means it’s more important than ever to maintain a good credit record.

This also means doing the things you should be doing anyway when it comes to personal finance:  pay your bills on time. Don’t take out more credit than you need. Keep your balances low. Pay off debt. And finally, check your credit record on a regular basis to make sure there aren’t any errors driving your numbers down.

#6:  Compare costs before shopping for a new car

Auto insurance costs vary quite a bit depending on the type of car you drive. That said, it’s a good idea to figure out what your car insurance premiums will be before you shell out the money for a new vehicle.

Premiums are based on factors like the sticker price of a car, the safety record, the chances it’ll get stolen, and the overall cost of repairing damages.

For a little insight on which cars have advantages when it comes to insurance, check out the Insurance Institute for Highway Safety site at www.iihs.org.

Put in the time

When it comes down to it, lowering the cost of your car insurance is all about putting in a little extra time to make sure you get the best deal. Remember, a good deal on car insurance will pay off over the course of years to come – so it’s worth the investment of time you make upfront.

Figure out where you went wrong

Before you push your holiday shopping sprees too far out of your memory, stop to think about what happened in the first place. Did you wait to buy gifts at the last minute, so you had no time to shop for deals?  Did you end up going out to celebrate a few too many nights?  Or maybe you felt the need to buy more gifts than you’d planned because people kept gifting you.

Whatever the reason, come up with a strategy for avoiding the same problem next holiday season. This is especially a good idea if you ended up buying more gifts than you could afford at the time.

Make a plan now (no, it’s not too early), to start looking for next year’s holiday gifts. You can take advantage of sales that take place throughout the year. Not only will you be able to avoid paying high prices, you’ll also get a chance to spread your holiday giving budget out across the entire year.

Buckle down for a month or two

Having a plan to avoid holiday debt next year is great, but it doesn’t do you any good when it comes to paying off the debt you have now. For that, you need to buckle down and curb your expenses for a few weeks – or even months, depending on the damage you did.

One of the best ways to store up a little extra cash is to cut entertainment expenses from your current spending habit. Going to movies or heading out to restaurants can put a serious dent in your budget, so if you halt those outings you’ll end up with a nice surplus of cash.

To fill the time you won’t be going out on the town, get a great book from the library and spend your evenings getting lost in the page of the (free) story. Or tackle a household project you’ve been meaning to get to for ages, like organizing your photographs or cleaning out the top of your closet.

Consider a part-time job

Nothing puts money in your pocket like actually going out and earning more income. A second job may sound daunting, but if you get one at a place you enjoy – like your favorite clothing store or eatery – then at least you’ll be able to while away your time in a comfortable setting.

Even better, you won’t have time to be out spending money – and instead you’ll be pocketing a little extra.

Remember, an extra job for a couple months could be just the boost you need to knock out your holiday credit card debt. Be open to temporary jobs or short-term positions that make it easy to leave once a short time period has passed.

Have a blow-out sale

Selling some of your things is a great way to make extra cash and clear out your clutter. It’s relatively pain-free and you’ll wind up with some extra funding to curb your holiday debt load.

These days, you’ve got a lot of great options beyond the traditional garage sale. Go online and post items for sale through Craigslist or eBay. Or visit a consignment store in your area.

See if your city offers any trade stores where you can trade in old clothing or goods for credit and then come away with new items that didn’t cost you a dime.

At least do something

When it comes to paying off holiday debt, the most important move is to at least do something. Make a plan, be proactive, and tackle that debt load. Sitting around and kicking yourself for spending too much does you no good. Instead, stand up and do something about it. And then never let it happen again.

Key provisions in the tax credit extension

• Deadline extended. To start with, the deadline for the first time homebuyer tax credit has been moved from November 30th, 2009 to April 30th, 2010. This means any qualifying home purchase made prior to April 30th will still qualify for $8,000 in tax credits.
• First-time homebuyers still get $8,000. Though it was proposed that the credit amount go down for this second round of home ownership incentives, Congress ultimately moved to keep the maximum credit amount at $8,000. This means any person who has not owned a home prior to the three years before purchasing a new one can get a full $8,000 back from their taxes.
• Long-time residents have a new credit incentive. One new provision of this bill grants up to $6,500 in tax credits to new home purchasers who do not qualify as first-time homebuyers. For this incentive a person must have owned and lived in the same home for five consecutive years within the eight-year period that ends on the day a new home is purchased. This new home must also serve as a primary residence.
• Income limits have been raised. For anyone who purchases a home after November 6th, 2009, a new and higher income limit will be applied. Now anybody with an adjusted gross income of up to $125,000 for single filers and $225,000 for joint filers will be eligible for the full $8,000 credit. For homebuyers who make between $125,000 and $145,000 for single filers and between $225,000 and $245,000 for joint filers, a reduced tax credit applies. Anybody whose income is higher than those maximums is not eligible for a credit.
• Tax return flexibility. Homebuyers now have the option to claim the first time homebuyer tax credit on either their 2009 or 2010 tax returns provided their purchase is made in 2010.
  

New restrictions in the tax credit extension

There are a few new restrictions that apply to the homebuyer tax credit extension, which include the fact that dependents may not claim the tax credit.  On top of that, no credit will be issued if the price of a home is over $800,000.  Lastly, a buyer must now be at least 18 years old on the date of purchase.

A bonus for service men and women

On top of all that, members of the Armed Forces and some federal employees currently working outside the United States have been given an extra year in which to buy a house and qualify for the credit. For these people, eligible purchases must be drawn up in a binding contract by April 30, 2011 and the purchase must be closed by June 30, 2011.

Why the tax credit was extended

The goal of the initial homebuyer tax credit was to jumpstart the depleted housing market. It certainly did a good job of getting new homeowners into the game, but the difficulty came in getting the large mortgage companies in motion quickly enough to meet the deadline.

Because of these delays and the fact that lawmakers don’t want to see home sales slip back down, the proposal went through Congress to extend the credit out through April. It also made for some new bonuses for buyers getting in on the deal (as discussed above).

Many real estate agents vouch that the homebuyer’s credit did a great job in boosting sales but were worried that sales would drop off during the winter months. Winter months typically mean slower sales for the housing market and in a precarious situation like today’s economy, slower sales could thwart the progress that’s already been made.

Given all this, President Obama extended the act in early November. Government officials called it a “lifeline” to those who’ve been hard hit by the recession but are looking to boost themselves back into the housing market.  If you count yourself among them, this could be the lucky break you need to get back into the home ownership game.

The importance of a wish list

Some wise person once said you should always write down your wish list or goals – or at least the ones you’re serious about. That couldn’t be truer, especially when it comes to New Year’s resolutions. Writing down your goals says you’re committed to seeing them through.

Writing down your goals also makes it more difficult to tuck those goals in a corner of your mind and never commit to them. In fact, if you really want to make sure you follow through on New Year’s resolutions, your best bet is to tell everyone you know about them.

Post your goal or put your wish list on a big, obvious sign in a public place in your home or office.  Get the word out so your friends and family members can hold you accountable. Put it in a place where you see it regularly so you’re bound to remember your commitment on a daily basis.

Your Financial Wish List for 2010

To get you started, here are some of the most popular (and most important) goals to include on your 2010 financial wish list:

Goal #1:  Get into the habit of saving

Saving money is a learned art. It’s not an ability you’re born with, nor is it something you’re incapable of mastering. If you haven’t already cultivated the habit, saving money is something you have to work at until it becomes second nature to you.

When you tackle this goal, it’s important to know what you’re up against. For one, you may not ever have been taught how to appropriately save money. Invest in some books or read up on money saving tips.

You also need to recognize that our culture does not encourage saving. Instead, we’re a spend-till-you drop type of society, and it’s something you’ll have to stand up against once you start saving. You can do it though, and it’ll be worth it in the end.

Goal #2:  Open your own personal savings account

If you don’t already have one, this is a must-do for the New Year. A personal savings account makes the act of saving money insanely easier – especially if you can set up automated transfers that regularly move money into your account.

If you have a joint savings account, that’s fine, but only if you play an active role in the act of saving. You need to be part of every decision made regarding building and using your savings account.

Goal #3:  Teach your children to save

It’s a bizarre truth that our educational system teaches little in the way of personal finance. This leaves it up to you to teach your children how to handle their money.

Start early by teaching your kids the value of earning money through chores or other tasks. Then guide them when they decide to spend their money. Encourage them to put some away in savings and show them the value of shopping around to look for good deals.

Goal #4:  Learn how to invest

Investing your money is a proven way to increase your wealth. There are even some sure-bet options, so don’t worry that every investment comes with a big cloud of risk.

Start familiarizing yourself with investment opportunities and put that knowledge into practice by opening an investment account with some of the money you save this year.

Goal #5:  Create an emergency fund

Planning for the unforeseen just makes good sense. Nobody hopes to be laid off or to face huge medical bills, but things like that happen to even the best people.

Build up an emergency fund large enough to cover your expenses for at least six months. You’d also be wise to put your emergency fund money in a money market account that is easily accessible (in case of emergency, obviously!), but that also grows at a steady rate.

The extra upside to self-improvement

Take a moment and think about the motivation behind most acts of self-improvement. By and large, it’s because you want to be better in some way. Maybe you want to be thinner or smarter or kinder. Maybe you’d like to get out of debt or make a real effort to save for the future. Or loosen your stress load. Or give up a vice.

All of these goals come in response to overspending or taking on too much. And when you cut any one of these habits out, along with benefiting from dropping the habit...you’ll also save money.

Our culture of overconsumption

If you think about it, most resolutions to be better are rooted in an initial lack of judgment (usually on your part) on when to say when. Don’t take it personally – because we’re all pretty much in the same boat! 

The dominant culture in the United States is steeped in harnessing too much of a good thing. As in, too much food leads to obesity. Too much clutter leads to stress. Too many drags lead to lung cancer. Too much spending leads to insane debt.

You get the picture.

Popular resolutions and their financial benefits

Here’s just a handful of examples on how cutting overconsumption (i.e., making a New Year’s resolution), can end up saving you money:

Lose weight. By and large one of the most common New Year’s resolutions, losing weight has a boatload of financial bonuses. For starters, to lose weight you usually have to stop buying tons of food. You’ll also save by dropping the habit of eating out all the time. You’ll give up your cappuccino addiction (a pricey habit!) and your attraction to vending machines. As you get healthier, you’ll save on doctor visits and medications. And even if you spring for a new gym membership, you’ll still probably save money because you’ll end up with more energy and less of a desire to eat – meaning your days will be filled more productively and less expensively than before.

Live green. If you’re ready to commit to being environmentally conscious, you’ll get to cut out a whole host of consumer products. You’ll probably make your own household cleaners from cheap buys like vinegar and baking soda, saving you lots of money on commercial cleaners. You’ll bring your own bags to the grocery store where you’re bound to get a five cent credit or other incentive for the gesture (and those things add up!). You’ll drive less and walk more, effectively spending less on fuel. You’ll be more conscious of turning off lights in your house which will lower your electricity bill.

Give up a vice. If you plan to quit smoking or drinking, your benefits will be huge. Not only will you save enormous amounts of money by cutting those expenses out of your regular spending habits (and getting away from the well-known “sin tax”), you’ll also see your health improve. Which means fewer doctor visits. Which means you save money.

Get organized. Clutter and chaos are stressful. They cost you tremendous amounts of time when it comes to the simple act of looking for things hidden in your piles. Messy houses make it easy to overlook things, like bills. That leads to missed payments, late fees, and overdraft charges. If you toss out all your clutter and organize the basics you’re left with, you’ll find you have more time on your hands so you can give greater attention to financial priorities.

Expand an interest or hobby. Almost any new hobby can be turned into a profitable or money-saving venture. If you’re interested in home improvement and want to remodel your bathroom, you’ll save money on not having to hire installers while at the same time making a great investment in your home. If you take the time to learn a new foreign language, you can eventually use your skill to tutor or shoot for a promotion at work. Essentially, there’s hardly an aspiration out there that won’t save you money or make you money.

Take the plunge and make the resolution

With so many bonuses to following through on your New Year’s resolutions, there’s no reason to hold back. Make the resolutions you’ve been considering and dive in with gusto. You’re bound to be stoked when you both fulfill your goal and make use of the eventual financial perks.

First – decide whether gift-buying is essential

Nobody wants to let down the people most important to them, but consider this:  is it really crucial to purchase a holiday gift for your friends and family members?

You may be loathe to forego the gift because you don’t want them to know about your struggles – after all, nobody wants pity. But consider a different options:  they might completely understand your situation. After all, the credit crunch and bum economy is not your fault.

It’s completely understandable if you still feel the need to purchase gifts. It’s especially understandable if you know other people are getting you gifts and you want to return the favor.

On the other hand, if you do decide to go without giving holiday gifts this year, communicate this to your family and friends. Explain your reasons. You might also ask that they not give you anything as well, to balance out the situation.

Second – if gift-buying is essential, trim your list

If you’re still set on giving gifts, start by trimming your list of recipients. This is not the year to buy gifts for every co-worker and friend you’ve ever had.

Think about the people who are most important to you in life and put their names on your gift-buying wish list. If there are still other people you’d like to shop for, put them at the bottom of the list. If you have any extra money once you’ve bought your top-priority gifts, you can shop for them as well.

Third – Consider alternative gifts

An alternative option to gift-giving is along the lines of “creative gifting.”  Rather than buying a traditional gift from a store, you could come up with unusual gifts that don’t cost any money.

For example, you could offer to do a chore for someone that you know they’d appreciate. Maybe you could rake their leaves or clean out their garage.

You might also give the gift of a meal to several loved ones. Cooking a nice dinner for your family or friends can easily work out to be cheaper than buying each of them an individual gift.

Fourth – Bargain shop

If alternative, non-purchased gifts don’t work for your needs and you’ve got to go buy presents, make sure you shop for bargains.

Don’t visit stores and buy gifts on a whim – instead, carefully plan out what you intend to buy and then shop around for the best prices. Look for sales, coupons, and discounts. Consider other options for cheaper merchandise, like using cashback bargains from your credit card company.

Fifth – Get money (carefully) through a payday loan

All things considered, payday loans may be the answer to your gift-giving needs. Provided you have a job and proof of a steady paycheck, payday loans provide you with upfront cash. This means you’ll have the money you need to buy gifts in time for the holidays.

Many payday loan businesses offer instant loan approval so your money can be available the same afternoon you apply for it. Other payday loan businesses forego checking credit reports, so if you’ve had a sketchy financial past (which of course, you’re working to remedy!), you can still get approved.

Sixth – Make plans to pay back the money you borrowed

Payday loans can be absolutely practical when you’re in a financial bind. But if you don’t pay back your loan according to the terms you accepted, you’ll find yourself in a heap of financial trouble – eventually owing much more than you borrowed to begin with.

That’s why it’s crucial to adjust your spending habits until you’ve paid the money back. Shop frugally and live economically until your payday loan is paid in full.

Why rising costs mean doctors are charging less

In 2006, doctor bills went up 7.7%. Each year after that, they’ve continued to climb. The results have been bad –people are simply foregoing health care and medical groups aren’t getting paid for the services they provide.

The obvious solution would be for the entire industry to charge less, but health care in America is such a tangled net of interests and costs that it won’t be happening soon.

Instead, individual doctors and some medical groups are offering discounts to patients who can pay with cash. The discount can be as much as 10% - and sometimes more.

Why it makes sense for doctors to charge less

Almost fifty million people across America pay out of pocket for their medical care. For some, it’s because they don’t have health insurance. Others have unusually high deductibles and have to pay out of pocket for basic care.

But in a clinical setting, this strikes an advantage. Just like other businesses, upfront cash has significant value for medical service providers. It gives them the means they need to cover rent, supplies, vendors, and other expenses.

And just like other businesses, medical professionals would prefer to have the cash for services available and in the bank right after the service has been performed. Unfortunately, this preference contrasts sharply with the lengthy waits between insurance reimbursements.

Every minute spent on the phone, composing correspondence, or filling out paperwork for an insurance company has to be compensated, and the more time medical staff spends on collection, the more money it costs the employer – and therefore the patient.

Along with keeping their accounts in the black, medical groups save a substantial chunk of time and expense when patients pay upfront.  Every year, doctors lose thousands of dollars in unpaid bills and credit card processing fees. They also lose money by having to support the cost of collecting on unpaid bills or insurance claims. Obviously, they’d like to change that.

Do doctors really offer discounts?  Yes!

A lot of people don’t realize most doctors give discounts. In fact, doctors and medical groups grant substantial discounts to insurance groups on a regular basis, either because of deals with specific insurance companies or because of sliding scales set for certain types of care.

It makes sense then, that doctors also offer money off to individual patients willing to pay in cash at the time of service.

You absolutely CAN negotiate price with your doctor

In 2005, a Harris Interactive poll showed that two-thirds of adults who negotiated with their hospital or dentist for lower prices succeeded in getting a discount. When it came to successful bargaining with private practice doctors, three out of five adults were successful.

It’s really quite simple:  If you’re going to pay for your health care services in cash, ask for a discount. Do this when you first call to make a medical appointment. If the clinic you’re dealing with won’t give you a discount, shop around till you find a place that does.

If you’re set on receiving care from a specific doctor, approach that doctor to discuss a discount. Most doctors grant big discounts when you make it clear that you’ll pay upfront. This is especially true if you have a history with a certain doctor. In many cases, doctors can override the pricing standards set by their group practice rules.

How much can you save?

If you’re recovering from a lengthy illness, saving a little bit – even just 10% - can really boost your savings over the long run. 10% is just the starting point for patient care price negotiation. In fact, the cash price for patients is often times 50% less than the typical “patient” price.

If you have medical costs that climb into the thousands, consider hiring a medical consultant. This is particularly helpful when you’re dealing with hospital fees. Most of the time, you’ll get back more than the fee of the medical consultant in the money he or she will help you save.

Ask and save

Like all things in life, you won’t know how much you can save on health care until you ask. Take the time to explore your cash-discount options when it comes to health care. The savings you reap will, in the end, be well worth your time.

Tip #1:  Head to the stores right after Thanksgiving

If you know you’ll be hosting a big holiday meal, hit up the grocery stores in the days right after Thanksgiving. You’ll find lots of fresh food and loads of bargains. Most stores will have turkeys for sale for half the price they asked before Thanksgiving. You’ll also see deals on baked goods, fresh veggies, and specialty drinks like wine.

Once you get home, freeze what you can to lock in freshness till your big feast. A day or two before your celebration, move the frozen food from the freezer to the refrigerator to thaw.

Tip #2:  Plan your portions

Your big-meal shopping list should be planned around the number of people you’re expecting to feed. That way, you can shop with quantity in mind. Plan for about one pound of turkey per person. Up that estimate to two pounds per person if you’d like to have leftovers.

Tip #3:  Consider alternatives

Experiment with new and less expensive recipes this year. Consider making a fancy Jell-o dessert instead of springing for the pricey nuts that make up a pecan pie. Cook up a pot of green beans instead of serving a pricier side of asparagus. Essentially, take the time to think about which dishes cost you the most and then come up with an alternative.

Tip #4:  Weigh convenience and time

You can get a lot of things pre-made from the grocery store, but they come at a cost. On the other hand, making everything from scratch is cheap in money but takes a lot time. Pay for convenience when necessary, but if you can manage try to rearrange your schedule to comfortably accommodate more prep time.

Tip #5:  Try it potluck style

If you’ll be hosting guests for a holiday meal, let them bring a dish or two. Most guests are happy to do so because it makes them feel like they’ve contributed. Be ready when your guests ask if there’s anything they can bring. Think ahead about which courses or part of the meal you’d like help with.

Tip #6:  Make your own dressing

Going back to the basics is a tried and true way to save money. Practice this adage when it comes to making dressing (also known as stuffing) and skip buying the fancy box mixes. Instead, make use of old bread slices you know you won’t eat. Instead of tossing it, take your stale bread and toast it. Then store it in sandwich bags in the freezer until you’re ready to make your stuffing. When that time comes, use a rolling pin to crush the bread into crumbs. Mix it with some spices and use that as your stuffing base.

Tip #7:  Cook for leftovers

A lot of things cost you less when you can buy them in bulk. Cook large servings of food so you’ll have plenty of leftovers. You might also plan out additional recipes to apply to any leftover ingredients you may have. In other words, put the leftover turkey in a casserole or a soup.

Tip #8:  Tend to the food right after the feast

Make the most of the food you’ve already bought and cooked by transferring your leftovers into airtight containers right after dinner. Don’t let your food (especially the meat) sit out and get dry – you’ll be much less likely to eat it later.

Here’s an extra tip for keeping cooked turkey moist:  Put the turkey in a container that allows for some room at the top. Then place a sheet of waxed paper over the turkey and top that with wet paper towels. When you take your meat out of the refrigerator the next day, your turkey will still be lovely and moist.

Tip #9:  Choose essential decorations

If you revel in a festive spread before a holiday feast, take advantage of after-holiday sales. That is, go out and purchase leftover decorations the day after each holiday they’re made for. This will set you up for next year’s feasts with very little expense.

When decorating your table for this year’s feast, consider the dollar store. You’ll find plenty of basic decorations that can provide your party with pizzazz, but which certainly won’t add up to much.

But for those hanging on to a faint glimmer of financial hope, the opportunity provided by payday loans has brought a sort of refuge, albeit a risky one. It’s a fact that Americans are increasingly turning to payday loans for a financial quick fix in the tough economy, which can either be a saving grace or a money trap. Read on to find out why.

What is a payday loan?

Basically, a payday loan is an advance on your paycheck. If you’re in a bind and you need money before your next paycheck gets cut, payday lenders will give you cash up to the amount of your total check. The benefit for them doing so is because they can charge you a hefty interest rate and because they demand repayment within a short time period – sometimes as little as two weeks.

These loans tend to be used most by people in the low to middle income brackets. Many folks in these groups consider payday loans to be an enormous benefit. Payday loans also offer ready access to cash for individuals with low credit scores who can’t qualify for any other type of loan. You can walk out with cash – sometimes hundreds of dollars worth – in as little as fifteen minutes.

Payday lending is a HUGE industry

Believe it or not, payday lending stores in the United States outnumber Starbucks and McDonald’s stores combined. In total, there are approximately 23,000 payday lending stores scattered across the country. Put together, they make up a $59 billion per year industry.

Who uses payday loans?

On average, 19 million American households take advantage of payday loan services annually. The typical customer will take out eight payday loans in a given year. Payday loan customers also tend to have existing debt, no savings, and little education.

What to watch for

Because of the risks payday loans can pose, it’s important to know how to differentiate a reputable lender from a slimy one. For starters, look for places that are upfront about their terms. You also want a lender who requires you to look through and read all paperwork before signing anything.

If you need to take out a payday loan, watch out for “incentives.”  Some lenders will offer different types of deals, such as giving you a bonus free loan if you take out three full loans.

This may sound like a good deal initially – especially in our culture of bargains and discounts – but the reality is that it’ll cost you a lot more in the long run. Think three times the interest for the single loan you initially wanted to take out.

Can a payday loan be a trap?

It’s a simple as this:  payday loans pose a trap for people who aren’t able to pay off the initial loans they take out. Just as credit cards can trap consumers in a constant cycle of spending and owing, so do payday loans “trap” people who aren’t able to pay the terms of the loan.

Say for example you sign on for a $500 payday loan (so a $500 advance on your paycheck). You’ll then owe the lender $500 plus interest, likely due within a short time frame – anywhere from four days to two weeks.

Let’s say then that you pay off your loan once you get your next paycheck, but because you owed interest on the loan you have to take out a little more from your paycheck. This leaves you short on basic living expenses, so you sign on for another payday loan.

Scores of people find themselves in this type of bind, though most fail to realize that it’s largely self-inflicted. To be sure, payday lenders offer an easy avenue to money when you’re short, but you have to agree to their terms in order to qualify for the loan.

The real problem:  lack of awareness

The thing about payday loans is that they’re actually very transparent. You won’t find hidden fees or surprise charges. Everything the customer is expected to pay is listed in the loan documents signed by the customer.

Unfortunately, most customers don’t take the time to read the fine print of the loans they’re signing. Those who do read the terms don’t always understand the details and usually fail to ask for clarification.

What to look for

Payday loans and lenders have increasing amounts of regulation in the interest of consumer protection. Some states now cap the interest rate payday lenders can charges while others are extending the repayment period.

Before signing on for any payday loan, be aware of the regulations present in your state. When you approach a lender, ask whether they adhere to the regulations. If they don’t know what you’re talking about, you should tuck tail and run.

Alternative options

If you find yourself short on cash, know that payday loans aren’t you’re only option – even if you do have bad credit. Consider borrowing from family or friends, or rework your budget to cut out unnecessary expenses. Sell unneeded items to a pawn shop or seek credit counseling services.

If all these options fail to get you the cash you need, visit a payday lender with your eyes wide open. Be aware of the terms you’re signing on to and pay your loan back on time. Above all, limit yourself to the single instance of needing a payday loan to prevent getting trapped in an unfortunate lending and paying cycle.

Fortunately, it doesn’t stop there. All kinds of cheap, quick-fix beauty secrets are out there – you just have to know the insider tips. Read on to learn about all the cheap beauty tips you can enjoy without having to pay those high department store prices. Better yet, most of these beauty tricks can be realized using the contents of your own cupboard.

Cheap beauty tips for your face

Face mask:  Ever think about rubbing kitty litter on your face?  It’s actually not such a bad idea. Kitty litter makes a terrific face mask because of its detoxifying qualities. On top of that, it’s dirt cheap. You can buy it at the grocery store for a couple of bucks. Look for a brand that says 100% clay.

Makeup remover:  Speaking of rubbing things on your face, you should also keep a bit of vegetable shortening on hand. Use it to remove your makeup and save money by not splurging on pricey consumer makeup removers. Believe it or not, several of the top makeup artists in Hollywood refuse to use anything but vegetable shortening for makeup removal.

Antioxidant cream:  Here’s a bonus tip:  Add a vitamin E capsule to your vegetable shortening and you’ve got a great antioxidant cream. Just squeeze out the contents of the capsule and blend with the shortening. Doing so will save you as much as $50 to $60 at the department store.

Exfoliating scrub:  Basic granulated table sugar works as a stellar exfoliating scrub, and it can be had for pennies. Because sugar contains glycolic acid, all you have to do is mix it with water for a cleanser comparable to beauty store brands. If you have dry skin, mix it with olive oil.

Toner:  There’s nothing like a fresh lemon to bring the pH balance of your skin back to normal. Cut a lemon in half and rub the fleshy side against your face. Do this before you apply your makeup and you’ll keep your skin fresh and radiant throughout the day.

Eye mask:  Remember the teething rings you gave to your kids when they were babies?  Put those teething rings in the freezer for an hour, then take them out and place them over your eyes. They make a soothing eye mask that helps reduce puffiness. If you’re in a hurry, simply run the teethers under cold water. You’ll get close to the same effect.

Pimple reducer:  Grab that eye redness reliever the next time you have a pimple. Just as it gets the red out of your eyes, it’ll also remove the red from your pimple (and will thankfully make it less noticeable!).

Cheap beauty tips for your skin

Detoxifying mud bath:  Break out that kitty litter again. If you add kitty litter to your bath water, you’ll enjoy a lovely detoxifying bath that leaves you silky and soft.

Aromatherapy mud bath:  Remember the lemons you rubbed on your face?  Once you’re done using them for a toner, throw the remaining halves in the bathtub for inexpensive aromatherapy. The remaining juices in the fruit will also help toner your skin while you soak.

Thigh cream:  Plenty of women use lotions and potions on their thighs and other cellulite-prone areas, but that can add up to quite a bit. Skip the name brand cream and instead go for the roasted bean – the coffee bean, that is. Take the grounds of regular ground coffee and rub it over cellulite areas. The caffeine helps “activate” the fat, smoothing it out so it doesn’t look curdled. Espresso is the best quick fix for this purpose.

Cheap beauty tips for your hair

Anti-frizz cure:  If you’re prone to frizzy hair, simply carry a fabric softener sheet with you wherever you go. Run it down the side of your hair when the frizz starts to creep up and you’ll tame the wildest of hairs. As a bonus, you’ll save tons on fancy shampoos and anti-frizz sprays. (Bonus tip:  If you have static cling, take that sheet of fabric softener and run it under your skirt. Your static problem will be solved without having to visit the pricey dry cleaners!)

Oily hair cure:  Dig that old corn starch out of your cupboard and sprinkle a little through your hair. Comb it out and you’ll find that you no longer have oily hair. If you don’t have corn starch, use talcum powder.

Dandruff cure:  Grab an aspirin and dissolve it in a teaspoon of cheap shampoo for a stellar dandruff cure. You’ll find this trick works as well or better than any of the expensive dandruff shampoos on the market.

Clearly, we need a change. And like most changes, it’s wise to start from the bottom up – meaning we need to teach our kids about money management.

World-class investor and humanitarian agrees that kids need to learn good financial habits early. He's playing himself in a new cartoon to teach kids about investing, called the Secret Millionaire's Club.

Read on for best tips on how to help your kids become money-savvy.

Recognize that money is a cultural thing

In American culture, money is a very personal thing. It’s generally considered rude to ask someone how much money they make or how much they pay on their monthly mortgage. Because of that, parents tend to not talk about money, especially with their kids.

Right off, as a parent you’ve got to flip this practice on its head. Talk to your kids about money. Explain from an early age that money comes into your house as payment for work done. Then explain how that money is used to buy the things you need to live – food, shelter, and clothing.

Let your kids ask questions about money. Answer those questions thoroughly. If you’re uncomfortable sharing your salary or expense numbers with your kids, use ballpark ranges or describe hypothetical situations.

Teach your kids to make good choices

Learning how to make good choices early on provides the foundation for wise money management. Start when your kids are as young as two years old and let them make their own choices whenever possible – even if it’s something as simple as deciding what color shirt they want to wear.

As your child grows, transition from making simple choices to more complex decisions. For instance, plan a family fun day and ask your child if he or she would rather go to the zoo or the aquarium. Teach your child to weigh the pros and cons of all the options you present.

Above all, make sure your kids stick to the decisions they make. Teach them that there may not always be a single, clear choice, but that once they make a decision they have to live with it. This will show them that even when the best choice isn’t always obvious, there may be one that has more benefits than others.

Set limits on money and explain why

It’s tough to teach kids money management when we live in a culture of instant gratification. Kids are targeted by ads everywhere they look. Most of those ads let them know that they need whatever’s being sold to be happy or successful or popular.

Don’t buy into it. Explain to your kids that life will go on if they don’t have the latest edition of a video game or toy. Come up with unique ways to spend time together to prove to them that fun can be had without purchasing the latest gizmo or gadget.

For those things your kids do want to purchase (or for purchases you’d like to make yourself for your kids), be sure to set limits. Teach your kids to save their allowance so they’ll be able to make purchases themselves – and resist the urge to make up any difference between what they’ve saved and what they need.

Get other family members on board

It’s tough to teach your kids to avoid excess spending if they’re getting “spoiled” from other sources. Ask well-meaning friends and family members to limit their purchases when it comes to buying your child gifts. Tell them one or two well-thought out holiday gifts will mean a lot more to your child than a slew of presents that represent excess.

For those family members intent on spending money on your child, ask them to put their good intentions into a cash savings bond or college education fund for your kid. Not only will such a move help establish an appreciation for saving and giving for your child, it will also produce a huge payoff in the long run.

Don’t rely on school systems to teach your kids about money

Believe it or not, financial education classes are only required in six states. This means chances are good your child won’t get money-savvy by way of school.

Instead, set a priority to teach your kids about money management on a regular basis. Make it a weekly thing, or spend one day a month dedicating your discussions to money issues.

Even better, approach your school district about incorporating money lessons into the classroom. Plenty of programs exist with the goal of teaching kids to save money – take advantage of them and bring them to your neighborhood.

Make money knowledge a life-long commitment

It’s easy to get fired up over teaching your kids to be money savvy when times are tight and the necessity of the lesson is obvious. Just be sure to keep that fire burning. When the economy improves and money isn’t so tight, it will be easy to forget why all this money knowledge is essential. Don’t let that be you.  Make a life-long commitment to teaching your kids financial independence. You can be sure they’ll thank you when they grow up with the confidence to wisely manage their own funds!

Fair?  Of course not. In fact, women can pay as much as 48% more than men for the same individual insurance policy. Considering women only earn 78 cents for every dollar a man earns, this disparity becomes even more troubling.

The bare bone (depressing) facts

Along with health insurance being more expensive for women, it often doesn't cover some of the most basic health needs a woman might have.

In fact, there are insurance policies that won’t cover illness or injury that result from domestic violence. Other policies don’t cover complications that result from pregnancy, such as complications resulting from a caesarean section. Still others don’t cover oral contraception or other forms of reproductive care.

When it comes to coverage for preventive care, insurers also come up lacking. For example, most insurers cover mammograms for women over age 50, but that’s largely because in 47 states they’re mandated to do so by law. For mammograms for women over 40, only 20 states mandate coverage. Few insurers voluntarily offer this coverage, yet early detection of illness such as breast cancer can dramatically reduce the overall cost of care.

This discrepancy affects nearly all women

Women who buy their health care coverage directly from insurance companies pay the highest price for these cost discrepancies. In a lot of cases, the high premiums charged to women make health care flat-out unaffordable to a large proportion of the female population.

Even women with group coverage received through their employers may still be paying a higher price. Research shows that group plans in some states allow insurers to assign higher premiums to companies that have a large percentage of female workers.

One finding by the National Women’s Law Center shows that 60% of the time, 40-year-old females who are non-smokers actually pay more for coverage than 40-year-old male smokers. Not only does this cut a sizeable chunk into a woman’s budget, it also provides little incentive to practice healthy behavior.

The explanation…

When approached for an explanation, many insurers point out that the higher costs offset the expense of covering a woman who is pregnant or seeking well-baby care.

They also state that women are more likely to use medical care when they’re between 19 and 55 years of age than men are, and therefore require more overall health expense. What they can’t explain is why women still pay more for health insurance that does not cover maternity-related care.

Unfortunately, the gist of this explanation boils down to punishing women with higher charges for health insurance simply because they are women.

Help on the way for women seeking health insurance

Fortunately, the National Women’s Law Center is taking this unfair health insurance issue public. Just yesterday they launched a public awareness campaign called “Being a Woman is Not a Pre-Existing Condition.”

The goal of the campaign is to educate women about the many disparities that exist when it comes to health care. This will allow them to make better decisions in choosing health insurance. Ideally it will also get them fired up enough to unite and spark some change.

Tips so YOU don’t get hit as hard with health premiums

If you have to buy individual health insurance, be choosy. Shop around between several vendors and compare rate prices. Many online rate comparison programs are also available to help you navigate the scores of insurers out there.

In addition, take good care of your health. The healthier you are, the less frequently you’ll need to visit the doctor. In general, women are better at noticing symptoms of illness early on so they can tackle sickness before it settles. Bear in mind that this practice may both keep you from getting sick and help you save money.

Finally, bundle up. Try to find a health insurer that offers other forms of coverage, such as auto or life insurance. Find out whether purchasing multiple policies will allow you to save money in the long run.

Until Congress mandates some sort of change in the industry that doesn't penalize women when it comes to the price of health insurance, it's up to you to take action and make the best of what is currently a sour situation.

How micro-lending works

In countries where access to banking is virtually non-existent, socially conscious organizations are stepping in to function like banks and make loans to the poor. These organizations take the money invested by individuals in developed countries (which may only be a few hundred dollars at a time) and turn that money into microloans to help the poor. Better yet, investors like you can make interest on those initial investments.

Let’s say you have $1,000 you’d like to invest. If you invest your money through a socially conscious microloan website, that money will be wired to an impoverished country in need of loans. In some cases, you can even pick the country and the type of recipient (e.g., women, artisans, farmers, etc.).

Your money is then split up into small loans for the group of your choice. If you picked farmers in Peru, then chances are three different farmers will each get a loan of about $330. In most impoverished countries, a few hundred dollars is more than enough to supply the necessary tools, supplies, or labor to launch a successful enterprise.

While the farmers who received loans thanks to your investment work on paying back what they owe, your investment earns interest. Most microloan site interest rates are compatible with the 2%-6% rate offered by banks. After a year, your $1,000 investment may have earned as much as $60 in interest.

On top of all that, your investment is relatively liquid. Though it depends on the company managing your investment, in most cases you’ll be able to withdraw your money with little or no notice.

Why micro-lending works

Most successful businesses we buy from got their start from a loan. Generally speaking, that means either a bank was involved in the transaction or a wealthy investor had a finger in the pot.

But in impoverished countries, it’s a different story. Entrepreneurial ideas and spirit are present just as in developed countries, but access to money is virtually non-existent. Without startup cash, would-be business owners are unable to get their ideas off the ground.

Enter microloans (also known as microfinance). Microloans are a way to empower individuals to lift themselves up out of poverty. As one popular microfinance website, MicroPlace.com (www.microplace.com) puts it, “Microfinance is a hand-up, not a hand-out.”  Money given to sites like these is not simply doled out through charity. It actually assists in the alleviation of poverty by allowing poor individuals a way to build a sustainable future.

How to make a socially conscious investment

Once you choose a socially consious investment site, you can begin by investing as little as $20. Most companies let you open up an investment account just as you would with any broker. After that, you choose where your money will be invested.

Options for investment at MicroPlace.com include green business, rural area loans, loans with a special focus on women, or fair trade investments. You’re also able to pick the level of poverty your money will be directed at – from extremely poor to very poor to simply poor.

On top of that, you can choose the geographic area where your money will be rewarded – anywhere from Africa to Latin America to Southeast Asia, the Middle East, and beyond.

You can choose your level of financial return and the timeframe in which you’d like to receive your return on investment. You’re also able to decide whether your money will go to a single institution or individual or whether it’ll be split up between multiple institutions or individuals.

Most payments are made via credit card, but you can also pay with a PayPal account. In turn, you can receive interest payments as a deposit back into your PayPal account or directly into your bank account.

Why microloans are a safe investment

In many cases, repayment on microloans averages as high as 97%. To understand this, you have to consider that participants in the process have a huge incentive to pay back on their loans. Staying in good standing with their lenders means they will have access to further expand and build their businesses, and it’s also their coveted ticket to a life out of poverty.

Make your own socially conscious investment

At a time when purse strings are tight, the process of micro-lending offers an admirable opportunity. If you’re like the many Americans who don’t have loads of money to donate to good causes but want to build up an investment portfolio so you’ll have a safety net, microloans present a great option. They let you help out a good cause along with building your income. What could be better?

Our culture of clutter

Look at the remaining tribal cultures in this world who live in huts and till out a simple existence and you might wonder at how they survive without our “necessities” – things like running water, electricity, motorized vehicles, and…credit cards.

Credit cards?

That’s right. Ask any American walking down the street and the majority of the time you’ll be told credit cards are essential to our way of life. …Which is probably how we got into this mess in the first place.

The stats will tell you that most consumers carry upwards of $8,000 in credit card debt. Few people have savings accounts of any substantial amount. Bankruptcies for individuals have been on the rise for years. Flat out, people are swimming in debt, yet most of them still continue to shop.

That very fact has given way to our current culture of clutter. Far too many parents complain that they can’t walk in their child’s bedroom because dozens of toys are strewn about. A shocking number of people can’t use their own garages because of the backup of clutter. We’ve got stacks of magazines, drawers of old electronics, and piles of out-of-fashion clothes cluttering up our lives.

The “Stop Shopping” movement

The “Stop Shopping” movement is a grassroots response to our twin cultures of debt and clutter. Advocates encourage consumers to stop shopping and start living. They operate on the premise that debt sucks substantial quality from your life, as does having too much “stuff.”

This movement is simple. To join, simply stop shopping. Stop shopping for things you don’t absolutely need (which pretty much means you’ve got to do the work of distinguishing between what you want and what you need).

When you do need something, like food or basic clothing, shop locally. Not only will this boost your local economy, it’ll also mean you’re ultimately using fewer fossil fuels since you won’t be sitting for hours in traffic waiting to buy something made far away in a factory.

Start by reigning in your credit card use

If credit cards have gotten you into this widespread financial mess, then they’re the key to getting you out. Start by checking the annual percentage rate (APR) assigned to each of your cards. Contact your card issuer and ask whether your interest rate can be lowered.

Next, consolidate your balances to your card or cards with the lowest interest rate. Pay more than the minimum payment each month and always pay on time.

Finally, resist the impulse to charge more to your cards. The only way to get rid of your debt is to pay it down without adding to it.

If you’ve got it, use it

Stopping shopping doesn’t mean you have to stop giving. Look around your house and decide what you no longer use or need. Donate it to charity or box it up to give to a friend who could really benefit from it.

The advantage to giving what you’ve got is triple-fold:  You’re not spending money so you don’t add to your debt, you’re getting rid of something that previously cluttered up your house, and you’re supplying someone with something that will be useful or of real value to them.

Your wise shopping makes a widespread difference

Making the effort to stop spending big and start shopping locally will have far-reaching effects. By supporting local merchants, you’ll help build up the local economy of your city. In addition, trimming down your own debt will mean you can leverage the dollars you have to make safe and sound purchases.

Make the effort and reap the benefits

Ultimately, your wise shopping decisions will produce positive ripples throughout the nation – starting right there in your own home. You’ve simply got to steel yourself to the idea and then stick with it. Once you do, you’ll marvel at how easy it is to get the hang of resisting our culture of want. And in the end when your debt load has shrunk and you feel like a wise consumer, it will all have been worth the effort.

But what if hacking were legal? 

Better yet, what if it could save you money?

That’s the case when it comes to hacking your cell phone to increase its functionality. Learn how to do it, why you’d want to do it, and ways it’ll save you money.

The ruling that made hacking possible

In 2006, the United States Register of Copyrights made room for some exemptions to the Digital Millennium Copyright Act (basically an act that restricts unlawful use and reproduction of copyrighted digital information).

What this meant is that you, as a cell phone owner and user, gained the right to unlock any cell phone you paid for.

Why you’d want to unlock your cell phone

The reason for unlocking your cell phone (aka, hacking into your cell phone), is to increase your user options so you can use your product to its fullest.

See, most phones are manufactured with the hardware to work on any network. Lots of phones also have the functionality to download and play music or to access the Internet.

But when you buy a phone from a wireless company, they disable a lot of these nifty features. They tell you the features are only accessible if you pay a fee to them or if you enter into certain contracts.

Not true, because the original phone software had those features enabled. This means your phone itself is capable of quite a bit.

For example:

• Many phones can use third party software to access the Internet, but many wireless carriers will tell you Internet access is only available for a monthly fee and an extended contract through them.
• Lots of phones are able to play MP3 files, but certain wireless carriers restrict you from downloading these files unless you subscribe to their music service.
• Most phones can work anywhere in the world through any local wireless service, but your cell phone provider won’t tell you this. Instead, they’ll charge you a boatload in roaming fees as you travel the world.

Save money and get the most out of your cell phone

If you want a phone that doesn’t come with any added restrictions, buy directly from the manufacturer. You may also consider buying your phone abroad where you won’t find nearly as many restrictions.

Most phones these days are global and are designed to work all over the world. As long as the hardware is the same, hackers can make the software from another region of the world work on your phone.

For instance, if you travel a lot you can have a hacker unlock your phone so you can switch out the SIM card. Once you’ve done this, you’re free to put a SIM card into your phone that’s local to the country you’re in. This means you can use a local mobile network with a local phone number, saving you literally hundreds in roaming charges.

If you’re into ringtones, have your browser unlocked so you can visit a third party website to download music. Similarly, you can use a memory card and a reader to transfer music onto your phone that you already own on a CD.

How to get what you need out of your cell phone

Legal “hacking” companies can put software on your phone that opens up the applications locked by phone companies. The price for having your phone unlocked varies by phone complexity, but it can be as little as $30.

Similarly, SIM cards that allow you to use the mobile networks in other countries are very affordable. Depending on how much you travel, you may even benefit from SIM card deals where you pay $100 for a card that works in 100 different countries.

Hackers can also add language capability to your phone, which comes in handy if you communicate with others who speak a different language. For instance, by adding Greek language capability to your phone you can access Greek characters and type out text messages in Greek. You can also change your menus and web browser to read in Greek.

Make the most of your cell phone purchase

In essence, hackers make it possible for you to use all the capabilities your phone was designed to have. This means you circumvent your carrier’s ability to charge extra for these services, but more importantly it means you can save money while enjoying your cell phone to its fullest.

As consumers grow more aware of what phones can do and what they can legally access, there’s bound to be a shift in the way carriers restrict privileges. Be on the front of this approaching change and start saving money by hacking into the features you already have the right to use.

In with the new, out with the old

Before we get into the top four ways to save on your wedding, consider one major change from the get go:  your approach. One of the reasons weddings cost so much is because so many brides (and grooms sometimes, too) get caught up in tradition.

Wanting to adhere to old-fashioned principles may seem romantic, but it’s actually quite costly. Consider that the way things were done years ago was because that was the only way they could be done, not because there was any special significance to the process (case in point: see Tip #1).

One of the major advantages you have to planning a wedding nowadays is the Internet. It streamlines things, makes discount shopping easy, and opens up new possibilities you never before would have dreamed of (for example, Tip #3).

So when you dive into your wedding planning, look at everything with a fresh perspective. Embrace the resources available to you today (like you’ll find in Tip #4). Not only will you be able to enjoy the super-elegant wedding you’ve always dreamed of, you’ll also do it at a fraction of the cost.

Wedding savings tip #1:  Skip the inner envelope

When it comes to formal invitations, tradition dictates a second envelope be placed inside the main mailing envelope. Sometimes you’ll even find blotter paper tucked inside the second envelope and against the invitation.

This double-envelope habit came about when ink required time to dry – in other words, before the modern pen or printing process. People wanted pristine envelopes, and so came up with this bulky way to mail formal invitations.

The simple solution?  Just don’t do it. Not only does a second envelope with blotter paper make the process of preparing your invites tedious, it also makes it more expensive. Heavier envelopes cost more to mail and if you have a long guest list, those stamps will add up.

Wedding savings tip #2:  Save on stamps

Instead of including a pre-stamped reply card with your invitations, ask guests to RSVP over the Internet. You can set up a nice looking wedding website for free from various site hosts. Add some pictures of you and your fiancé and make it a nice place for guests to visit when they log on to let you know they’re coming.

Wedding savings tip #3:  Rent your cake

Yes, really!  An elegant, six-tier wedding cake can run upwards of $2,000. For something that’s just going to be eaten, that’s a hefty price tag.

Instead of shelling out dough for cake, rent a foam cake. Various Internet vendors offer elegant foam wedding cakes for rent for less than $200. None of your guests will suspect it’s a fake cake as it sits on display during your wedding reception. When it’s time to eat real cake, the fake cake simply gets wheeled away and then slices of real cake get brought out on plates.

Best of all, these cakes come with a small piece cut out in the back of the cake where you can place a real slice of cake – that way you and your new spouse can still have the photo-op where you cut the first slice of your wedding cake from the elegant (and fake) creation on display.

Wedding savings tip #4:  Rent your (Vera Wang!) dress

We’re not talking about renting from your town’s formal store where dresses are outdated and worn down. Nope – we’re talking wedding rentals over the Internet. The good old World Wide Web makes fashion and couture attainable for the average working girl. In other words, you can rent a Vera Wang dress for a fraction of the price it would cost you to own one.

Many high-fashion dresses rent for less than $1,000 and even allow for minor alterations so the bride will look sharp on the big day. It’s a great way to look grand without the cost. And besides, wedding dresses rarely get worn more than once, so why pay the price to own one for a lifetime?

While you’re at it, you can rent fine jewelry as well. Jewels that would cost tens of thousands to buy only cost a couple hundred to rent (just be sure to make sure your homeowners policy or other policy covers the possibility of a loss – you never know what will go flying when you’re out on the dance floor).

Go in for the long haul

Open yourself up to a little creativity in the money department and you’ll be astounded at the money you save while still pulling off your dream wedding. Above all, your efforts will be worth it in the end when you’re able to start your new marriage without a load of new debt.