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Release date 06/30/2008
YONKERS, NY — The Consumer Reports Money Lab uncovered hidden savings in everyday spending that could save consumers up to $500 per month.
Using the strategies outlined in CR, consumers can trim their spending while gas and food prices continue to rise.
“It’s surprising that there are so many savings opportunities hidden in your budget,” said Jeff Blyskal, senior editor, Consumer Reports. “You don’t have to radically change your life to save $500 a month.”
The six tips are featured in Consumer Reports’ August issue on sale July 1. The report is also available to subscribers at www.ConsumerReports.org.
Savings shown are Consumer Reports Money Lab estimates based on what a range of consumers really spend and can possibly save. Actual savings will depend on individual circumstances.
How to do it: Start at the National Association of Insurance Commissioners’ Web site, at www.naic.org and click on NAIC States and jurisdictions to find your state’s insurance department. Most provide comparative premium quotes based on standard customer profiles.
How to do it: Get premium quotes at www.accuquote.com and www.lifeinsure.com. Don’t cancel your existing policy until you have a new one already in place.
How to do it: Plan menus around sales of fresh poultry, fish, meat, dairy, and produce, and make use of leftovers. Avoid costly prepared meals. Eat more low-priced high-nutrition foods like beans and potatoes. Try less expensive store brands, and sign up for store discount cards.
How to do it: Bank at large institutions with lots of ATMs in convenient locations. Shop for free checking and strictly adhere to provisions for a minimum balance, direct deposit, or other conditions to avoid monthly fees.
How to do it: Peruse your last few month’s phone bills to assess how many minutes you typically use on landline and wireless calls. Comparison shop among cellular service providers, the local phone company, and your cable TV company. Don’t buy more than you need, such as an unlimited cellular plan if you rarely go over 900 minutes per month.
How to do it: Stop charging, then pay more than the minimum required each month until it’s paid off. Dig up cash for this from your U.S. Treasury stimulus check, garage sales, or extra work part-time.
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2008 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.
Consumer Reports is a nonprofit membership organization that works side by side with consumers to create a fairer, safer, and healthier world. For 80 years, CR has provided evidence-based product testing and ratings, rigorous research, hard-hitting investigative journalism, public education, and steadfast policy action on behalf of consumers’ interests. Unconstrained by advertising or other commercial influences, CR has exposed landmark public health and safety issues and strives to be a catalyst for pro-consumer changes in the marketplace. From championing responsible auto safety standards, to winning food and water protections, to enhancing healthcare quality, to fighting back against predatory lenders in the financial markets, Consumer Reports has always been on the front lines, raising the voices of consumers.
© 2008 Consumer Reports. The material above is intended for legitimate news entities only; it may not be used for advertising or promotional purposes. Consumer Reports® is an expert, independent, nonprofit organization whose mission is to work side by side with consumers to create a fairer, safer, and healthier world. We accept no advertising and pay for all the products we test. We are not beholden to any commercial interest. Our income is derived from the sale of Consumer Reports® magazine, ConsumerReports.org® and our other publications and information products, services, fees, and noncommercial contributions and grants. Our Ratings and reports are intended solely for the use of our readers. Neither the Ratings nor the reports may be used in advertising or for any other commercial purpose without our prior written permission. Consumer Reports will take all steps open to it to prevent unauthorized commercial use of its content and trademarks.