573 Ways To Save Money

The Lyons Press, (Published 2010)

Written By Peter Sander and Jennifer Sander

USA

Review 3 Stars – Good Read

How the blurb describes the book:
Two personal finance experts offer 573 real tips and strategies to reduce spending, start a budget, and save money during tough financial times – or any other times!

Among the many moneysaving ideas Peter and Jennifer Sander share – in concise, compelling nuggets of practical information – in these pages:

Change your car’s air filter – Use a solar cooker – Rent things you don’t need year-round – Find spa bargains at beauty schools – Barter or trade – Find a per-mile auto insurance policy – Form a babysiting co-op – Learn to be a handyperson – Skip the extended warranty – Increase your deductibles – Weatherstrip your home – Prepare for the SAT for free – Write effective complaint letters – Check your credit report for free

Peter and Jennifer Sander are the authors or coauthors of more than twenty personal finance books, including The Pocket Idiot’s Guide to Living on a Budget and Green Christmas. Peter is the author of Madoff (Lyons Press) and The 250 Personal Finance Questions Everyone Should Ask. He has an MBA and has developed more than 200 personal finance columns for MarketWatch.com and TheStreet.com. Jennifer, a New York Times bestselling author, is America’s Affordable Luxury Expert. Through her books and speeches, she reveals the many ways that a family can live well on less. They live with their two sons in Granite Bay, California.

Mr Home Budget’s Review:
As you already know, the book is called “573 Ways to Save Money”. And surprise, surprise that is what you get. There are no deep and meaningful things in this book which are likely to change your life. Nor is there any budgeting guides to really cut back on your spending. However, if you can add even 30 of these tips into your weekly schedule, there will be some great savings to be had.

The book is not divided into chapters or sections. This can be annoying if you only want to look at saving money on cars for example. Car saving tips are littered in different sections in every part of the book. As with every other subject.

You do find yourself relating to the tips and authors as they explain the tips used in relation to their use of them in their own household. But unfortunately, some (not all) of the tips are so common they should have been left out.

Here is a saving tip which I found interesting (please note it was written in the USA so the seasons are in reverse in Australia) “Buy big-ticket items out of season. Need a pair of skis or a snowboard? Best to buy them in April. A boat? Try mid-winter. Looking for a deal on a car? Show up at the dealership in November. Sweaters and coats? Try when the weather turns springlike. The tail end of a season is the best time to look as retailers want to move merchandise to make room for the next hot new thing. Selection will be limited to what they have left, but the savings will make up for it.
         This is a good reason to plan ahead, because if you can anticipate your need for something big and buy it ahead of when you need it, chances are you will get a much better price. Feel free to ask salespeople in the store about the best time to buy. Everyone likes to be seen as an expert and show off insider knowledge, even if it costs them a sale.”

Or this tip from page 191: “Don’t Drink Soda. Time was when Peter was fairly well addicted to Coke and Dr Pepper and had a cold can somewhere in the house all day long. But as we all know, soda is mainly just sugary water – not particulary good for you – and it’s an expensive habit. Besides, drinking so much of what’s in those cans leaves you with lots of recycling to do. Sure, soda isn’t as expensive as cigarettes or alcohol; we’ll give you that. But when other family members climb on board, three or four twelve packs a week really add up. So Peter quit. Cold turkey. The springboard was the discovery of lime juice, one of the key ingredients in the Coke mixture. It’s really good, really refreshing, not as bad for you as soda, and easy to make from concentrate. So, no more Coke cans around the house, and now the stuff is more of a treat when he (and the boys) go to a restaurant.”

And this tip from page 238: “Buy A Small Freezer. A small 5 to 7 cubic foot chest freezer might cost $175 to $250 at a discount retailer, plus you’ll spend energy to run it. But if you plan your purchases, you can save a lot, sometimes 50 percent or more, by buying large quantities of meat and other items. But you have to plan; otherwise, the stuff disappears into the frozen depths of the freezer not to surface for years. Especially if you have a large family, run the numbers.”

Overall, a great book full of little saving titbits. Well worth a read to pick up some saving options in your weekly routine. But it probably will not change your life.

Pros:
Some tips are really quite unique; it will make you think why haven’t I thought of this before.
The way it’s written makes you feel as if you are talking to close friend, rather than reading a book.

Cons:
The book is not broken down into sections (e.g. cars, shopping, and electricity). All the tips are mixed in with one another.
Due to it being written in the USA, some references and websites will not apply in Australia.