Friday’s Fast Frugal Tip

Set a portion of a closet up as a ‘gift closet’.  Shop the clearance sections of your favorite stores and stock up for birthdays, christmas, baby showers, wedding gifts, etc. 

Target is having an excellent toy clearance at the moment!!!  I got a $35 Baby Alive today for $4.98!  The shelves are being cleaned off fast -so go quickly!

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Friday’s Fast Frugal Tip

Buying books and movies gets expensive, and even renting can add up. Take a trip to your local library; and you’ll find all of the latest books and movies available free of charge. Still like the idea of renting? Then, give Redbox a try. Rentals are just $1 a night, so the damage to your budget will be minimal

Friday’s Fast Frugal Tip

Reduce the amount of interest you pay on your mortgage payments by simply adding additional principle $$$$’s to the payments you make each month. It doesn’t have to be every month, it could be once a year if you receive year end bonuses. No tricks, no complicated formula. All you need to do is check your mortgage document to see if there is a pre-payment penalty clause,(usually paragraph 17), and if not, you are allowed to make additional payments in any amounts at any time over the term of the mortgage. For example; a $100,000.00 @8.5% for 30 years would give a borrower a monthly principle and interest payment of $763.51. If that borrower repaid the note over 30 years, never missing a payment he would have paid back over $274,800’s! However, by adding $63.63 dollars amonth to the payment and telling the bank to reduce the principle by that amount every month, the borrower would pay back the loan in 22.5 years, costing them just over $223,300 over the term of the loan! That’s a whopping savings of over $51,500.00!

Friday’s Fast Frugal Tip

While waiting for hot water from your sink to get hot, place a milk jug under the faucet to collect water. Use this water to water plants, pets, etc. You’ll be surprised with how much water you’ve collected.