by Lynn Dancey Rudkin

Created on: June 01, 2011   Last Updated: January 27, 2012

If you have more time than money, you still can build a hefty nest egg by investing that time in small money-saving steps that will net large returns for your bank account. 

UTILITIES AND INSURANCE

Check rates for your utility provider and insurance company every few months. Quite often you’ll find a lower rate and can switch or use the information to convince your current provider to match lower rates. Those avenues alone will probably save you hundreds of dollars a year.

SPARE CHANGE

You won’t miss a few cents here and there, so if paying cash for purchases you’ll see the dollars add up for vacations or home emergencies if you save the change in a decorative jar or other container and put that money into your savings account every few months.

* Whenever you finish a load of laundry, pay yourself:  put 50 cents into the jar.

* Use a coin sorter or count and roll the money while watching television then head for the bank with that pile of change.

* Keep an eye out for rebate coupons and when those checks arrive, immediately deposit in a savings account.

* If using FlexPay, stash that in a vacation fund, use it to visit family or put into an emergency savings after the check comes to your mailbox.

* Find a cigar box or decorative container and save all of your $1 bills. When you’ve amassed $25 to $50, put that into your savings.

* If you use checks, round up the amount you’ve written: If your purchase was for an uneven amount such as $25.31, write $26 in your check register.

* Take advantage of free money: some banks will offer $100 for opening and using a new checking account, drug stores often offer a $25 gift card for a first prescription, some companies offer $25 to $100 for using their service. The deciding factor should be whether or not that service is something that would be valuable to you in some way. Some banks offer a 1 percent cash back for using their debit cards.

CLOTHING

Watch major retailers: wait for their clearance sales advertising, and buy ahead for next year. Many also offer $10 in store cash on each $50 purchase, even for clearance items. Use the store cash for sale items that aren’t on clearance, such as socks and undies.

SAVINGS

Consider what your bank pays in interest and whether or not several accounts will be allowed.  Check other banks and online sources, such as ING, and investigate the same information. Take your business where you can get the most interest on a no-minimum

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