John Tesh in all his glory
I didn’t realize it, but John Tesh, (yes THAT John Tesh) is also now a bit of a self-improvement guru. In his new book, “Intelligence For Your Life: Powerful Lessons For Personal Growth” he talks about some good ways that you can save money when times are tough. He posted an excerpt from it on his website this week.
Don’t buy a new car before calling your insurance agent.
Compare the cost of insurance for your top car choices. Also, check on the costs of repairing your new car and the likelihood of theft. All of this contributes to your out-of-pocket costs as well as your insurance premiums.
Pay with cash more often.
This seems like an obvious one, but if you always pay with cash, you won’t get into debt. You also will end up saving a whooping 30 to 50 percent more because watching the dollar bills slip from your wallet will stop your spending. Another benefit of paying with cash is that you’ll avoid financing fees from credit cards, late fees, and overdraft charges at your bank.
Eat out half as much as you do right now.
Studies show that the average American family eats in a restaurant four times a week. That’s much different from when I was a kid and eating at a restaurant was a huge treat. Today most families spend more than $5,000 a year in restaurant bills and tips. I’m not saying that you should always eat at home, but just cut back a bit on the eating out if you want to save money. A bonus: You’ll also save calories. Studies show we eat 30 to 50 percent more when we eat out.
When flying, check out the airports that are a little farther away from your home.
It might be worth another twenty minutes in the car to fly out of an airport where the ticket cost is one-third lower. This really adds up if you’re flying the entire family out for an event. Many of the smaller airports also have cheaper and easier-to access parking.
Freeze your credit cards—literally.
This is one of my favorite pieces of personal finance advice from the radio show: If you are having trouble with credit card debt, don’t cancel your cards. Instead, put them in a bowl filled with water, place the bowl in the freezer. Whenever you get excited about a new purchase, you will have to wait for the cards to thaw out before you can put them on your card. By that time the urge will likely have passed. No microwaving!
John Tesh is also giving away $500 in gas cards every day through September 1st on his site at Tesh.com Stop on by and register for your chance to win.
Who knew John Tesh could be so cool!
Links:
John Tesh: How to save money in an economic crunch
- Tip: The Credit Card Companies Are Not Your Friend, They Just Want Your Money
- Take Advantage Of Manufacturer's Warranties, But Don't Buy Extended Warranties
- It's Morphin' Time: Transform Your Financial Life
- Summer Savings Series #1: Food Is A Big Expense. How Can You Save?
{ 4 comments… read them below or add one }
The bit about checking out other airports is absolutely true. I live in the Austin area, and am flying to see my sister in Minnesota this weekend. It was almost $500 to fly out of Austin, but only $270 to fly out of San Antonio! It’s only another 45 minutes to drive to the San Antonio airport than to the Austin airport for me. Money well-saved!
Damsels last blog post..Oy, the questions!
Wow. Who knew? I’m not going to say I thought Jo0hn Tesh was dead, but I hadn’t heard anything about him in a while.
I definitely agree with eating out half as much as we do. There is so much junk in pre-prepared food these days that we are basically paying for the convenience of killing ourselves..
I never new that John was into self improvement, but he has some good thoughts.
I work with a lady that has struggled all her life to raise her 4 children on her own, and her health is not good wight now since she had a stroke about 10months ago. I feel she could really benefit from a gas card to help her get to her doctor appointments etc.