Here is a great article by Amber Dakar from Money & Markets about 5 unconventional ways to cut your daily living expenses and save money.

5 Unconventional Ways to Save

by Amber Dakar

Federal income tax returns are due in eight days. And as you’re scrambling to get yours finished, how you’ve spent your money in 2009 should be fresh on your mind. That’s why this is a great time to start (or revisit) your personal savings plan for the rest of this year.

Now, we all know about the “conventional” ways to save — including opening a traditional savings account, starting a Christmas club account, accumulating debit card rewards or bank points with our everyday purchases, and setting up monthly automatic deposits to savings accounts.

So, today I’d like to explore five unconventional methods for socking away a little extra cash each month …

Savings Strategy #1: Separate your long distance phone carrier

Instead of bundling all your phone services, consider separating them. There are several long distance phone carriers that charge you cheap rates for only the long distance calls you make.

How it works: They charge about 3 cents or 4 cents per minute with six-second billing increments and no minimums or monthly fees.

For instance, if you call someone out of state and talk for an hour or so, your bill can be as low as $5 or $6, including taxes and fees, for the month. And if you don’t talk to anyone in a month, your bill is zero!

Pioneer Telephone is one example of a company that offers this type of service. But there are plenty of others with similar services. Just do a quick Internet search and you’ll find lots of choices.

Savings Strategy #2:   Enroll in your local utility company’s budget plan

By enrolling in a budget plan, participating customers pay about the same amount each month, no matter what the temperature does.

Your utility company’s budget plan might not save you money, but it could make budgeting each month a whole lot easier.

How it works: The utility company looks at your energy usage for the previous 12 months. Then, your monthly budget billing amount will be based on the average of your actual bills during the last 12 months.

While it may not actually save you money, the predictable nature of this payment system makes it much easier for you to budget. And that means it will be far easier for you to find ways to regularly plan and save.

Savings Strategy #3: Switch to a cash-back gas credit card

If you haven’t done so already, consider applying for a gas-company credit card that offers cash-back rebates with your purchases.

For example, BP Plc has the following program for their customers: If they buy Amoco Ultimate gas they will earn a 2 percent rebate on every $1 of net purchases made at BP locations with no limit on the number of rebates they can accumulate in the program.

Then, for every $25 earned in rebates they can receive a $25 BP gift card … receive a check for the amount … or donate the rebate to an environmental charity.

And there are plenty of other gas companies offering similar rebate programs. A simple Internet search will yield plenty of choices.

Savings Strategy #4: Review your auto insurance bill

We’ve all seen the commercials telling us to shop around for a better rate because we may be paying more than necessary with our current carrier. And in some cases it can be true!

You may find you’re being overcharged by a company you’ve been loyal to for years. So, it’s best to at least shop around to see if you’re getting the best rate possible. A couple of phone calls or web searches can really pay off.

It also makes sense to revisit the individual line items on your current bill. You may find overlap with other insurance plans you have — such as the policy from your healthcare insurance provider — or pieces of coverage that no longer apply to your current situation. Cutting a few superfluous options will yield big savings without sacrificing your overall protection.

Savings Strategy #5: Download coupons online

If you’re looking for discounts on your purchases, they’re probably just a mouse click away.

Taking the time to search for online coupons could mean big savings on products you regularly buy.

One popular website is coupons.com, and all you need to get started is your zip code. The site will tell you which coupons apply to your area. Another website I like is SmartSource.com, the self-described “#1 Website for Printable Grocery Coupons.”

Plus, if you buy items online, it almost always pays to do a quick search for coupons that apply to the particular online store or product you’re looking at.

And if you have an iPhone, an application like Yowza can also help you save money while on the go. The app finds deals and coupons in your geographic area … then, at the cash register, you show the clerk the Yowza deal on your mobile device and they’ll simply scan the barcode on the screen!

One word of warning: When visiting these websites or downloading mobile phone apps, some stores you patronize may not honor online coupons or deals. So before you run out the door with your online coupons in hand, please check with your local store to see if they accept them.

Best wishes,
Amber

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This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.

I have often felt that selling used books on eBay, Amazon and the Internet was one of the best home business opportunity for seniors or really anyone who wants to make money online without a lot of risk and upfront cost.

In my first book in the Official Geezer Guide series on starting an online business, I wrote about the used book business extensively. Because unlike the current generation, we seniors grew up reading and loving books and we seniors are now the fastest growing online market for all goods and services –but books in particular.

The used book business is a $6 Billion a year business and the online portion of that is now at almost 50% and growing every month.  Used books also do well when the economy is challenged as it is today because people still want to read, but they have to save money when they do it.

Last year I wrote a book on my main website, How To Make Money Selling Used Books on eBay, Amazon and The Internet.  I recently updated the book and added new bonus materials. How To Make Money Selling Used Books….is still one of the best-selling eBooks on the web and may soon surpass the Complete eBay Marketing System as my personal best-selling book of all time. The reason is simple:  It works!  I get tons of email from readers telling me about their successes.  In most cases the email are from people who are using online used book sales to generate extra money –but I also get email from folks who are making substantial amounts of money each month.

One of the markets I covered in How To Make Money Selling Used Books…was eBay’s Half.com, which is a fixed price site where you can sell books, movies and music.  Last week I discovered a great new selling tool called ScanLister.  There are three parts to ScanLister:

1. A small Scanning device that plugs into the USB port on your computer.
2. Scanning software that reads the scanned info and instantly creates a listing (with photo) that you upload to Half.com with the click of a mouse
3. An excellent training manual by a woman that consistently earns over $4000 a month on Half.com. Not all books and products sell well on Half.com, but she knows the ones that do and tells you where and how to find them.

I recommended ScanLister in my monthly newsletter at www.SkipMcGrath.com. Within a few days I Started getting email from my readers thanking me for the recommendation. One, who is a fairly experienced book seller said she was thrilled and thinks that ScanLister will save her hours a day and allow her to make money from a lot of otherwise slow-moving books and tons of DVDs she has sitting around the house.  Another person wrote that ScanLister paid for itself within 5 days.

So if you know nothing about books and would like to learn about this great low-cost, low-risk business, check out my training manual, How To Make Money Selling Used Books Online and once you are set up and running, check out ScanLister.

 Here is a great article from Nilus Mattive from Money and Markets that sets out the current and long-term problems with Social Security. We Geezers will probably be OK, but a generational war could be brewing. I shared this article with my two sons (age 25 and 30) They both said: (A) They don’t think they will even see social security, and (B) They have no desire to pay for it. With baby-boomers retiring at the rate of 14,000 per day and soon to increase to over 20,000 per day, this could become a critical issue over the next 5 to 10 years.

Social Security Situation Worsening; What to Do ?
by Nilus Mattive  

 We got lots of disturbing news from Washington last week. But the latest updates on Social Security and Medicare really got my blood boiling.

It is now estimated that both programs’ trust funds will run out sooner than previously expected. In the case of Medicare, the date is 2017 rather than 2019. For Social Security, it’s 2037 rather than the previous estimate of 2041.

Both programs are suffering because of the recession. The simple explanation is that fewer jobs mean less money getting paid into the systems. That creates a bigger drain on the programs’ current resources.

But it merely highlights the larger issue, one that has been there since the very beginning of Social Security.

The Problems with Pay-As-You-Go …

It’s interesting – and very instructive – to look at the history of the U.S. Social Security system.

The program’s first payment reportedly went to Ernest Ackerman. He retired a day after the program began, and contributed a whopping nickel. His lump sum payout? Seventeen cents. Not a bad return for good ol’, Ernie!

Ernest Ackerman put in one nickel to Social Security, retired a day later, and got back a $0.17 lump sum payment. Need I say more?

Meanwhile, the first person to receive a monthly payment from Social Security was Ida May Fuller. During the late 1930s, she contributed $24.75 into the system. Her initial monthly check was $22.54, so by her second check, she had more than recouped her entire investment!

And get this: She lived to be 100 years old, collecting $22,888.92 out of the system over her lifetime!

Sure, it’s an extreme example. But it demonstrates the real problem with Social Security … the problem that has existed since day one … and the problem that is only worsening as more and more people live to Ida-May-Fuller-like ages …

Social Security’s pay-as-you-go structure means a never-ending game of catch up.

When Social Security was first instituted in 1935, it covered about half of the population. Many teachers, nurses, librarians, and other workers were excluded from coverage. What’s more, the average life expectancy was about 60.

Today, Social Security covers virtually everyone. The average American is living to age 76.

And to accommodate this widening gap of money coming in and money going out, the initial 1937 payroll tax rate of 2 percent (split between employer and employee) has already risen to a combined 15.3 percent (including Medicare taxes).

Yet, I’m sure it will absolutely have to go much higher if the system is to survive!

Reason: Based on the newest projection, Social Security will begin collecting less money than it pays out in 2016.

Odds are also extremely good that the current cap on the amount of a salary that is subject to Social Security taxes ($106,800 in 2009) will have to be raised or completely eliminated.

And all of this begs additional questions …

Will Social Security Benefits Be Reduced? Or At Least Taxed?

Should You Start Taking Payments As Soon As Possible?

I believe Washington’s preferred solution will be getting more money into the system. But I would not completely rule out some tinkering on the payout side, either.

Taxing benefits at the Federal level has been one idea bandied about. That would be a slightly less obvious way of reducing future recipients’ payments.

Continuing to bump up the age at which benefits begin is another, and by the time I retire, I’m sure the age will have increased substantially.

But I would say that if you are near – or already in – retirement, you shouldn’t worry too much about your payments.

In fact, despite Social Security’s problems, I still suggest you consider delaying your benefits as long as possible. Sounds counter intuitive, I know.

After all, the conventional wisdom is to just start collecting as soon as you can. This is both because of the aforementioned problems – i.e. “catch as catch can” – and because it is commonly believed that the system is designed to work out the same no matter when you begin collecting.

But let me explain my logic here …

I think near-term Social Security recipients have little to worry about. Everyone else? I shudder to think …

First, it would be political suicide for anyone in Washington to mess with near-term benefits. Instead, the preference will remain – as it always has – kicking the buck further on down the line. Can it continue this way forever? No. But for longer than it probably should.

Second, there are also logistical problems with changing soon-to-be-retirees’ benefits. After all, the government uses formulas to calculate benefits at age 60 and 62 for each recipient. They are unlikely to retool the entire process overnight.

Third, it’s true that the system is designed to pay out the same in total benefits no matter when you start collecting. But the calculations are obviously based on averages and you are anything but average!

It’s important to look at your individual situation before you just accept the conventional wisdom. Sure, if you need the money to live on then just take it. But if you can delay taking your benefits, it might be worth your while, especially if you have “longevity genes” in your family.

After all, the Social Security Administration will raise your future payments for every month that you delay. Annually, that will amount to an 8 percent increase (plus any cost-of-living adjustments).

So the longer you delay taking benefits, the bigger your monthly benefit.

The math differs for every person, but consider someone who’s age 66 and has the choice of collecting $2,000 a month for the next 12 months or an additional $160 every month starting a year from now (i.e. the 8 percent annual increase for delaying benefits).

The $24,000 upfront seems like the better option. Especially since it takes 12 ½ YEARS of payments to make up for that missed $24,000.

Yet according to government statistics, the average American at age 66 will live another 17 ½ years.

In other words, you stand a very good chance of collecting at least another five years worth of those extra $160-a-month payments. That comes out to another $9,600 in your pocket!

So yes, Social Security is riddled with problems. And yes, it may not be around – or paying out nearly what it will hand near-term retirees – by the time I’m collecting my checks.

We will also all face higher taxes in the near future if the system is to be “saved.”

But there are still plenty of things that you can do to get more of your money back out of the system. Don’t feel guilty about it. Don’t worry about it. Just educate yourself on all the options and possibilities and take advantage of every little advantage you can.

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This investment news is brought to you by Money and Markets. Money and Markets is a free daily investment newsletter from Martin D. Weiss and Weiss Research analysts offering the latest investing news and financial insights for the stock market, including tips and advice on investing in gold, energy and oil. Dr. Weiss is a leader in the fields of investing, interest rates, financial safety and economic forecasting. To view archives or subscribe, visit http://www.moneyandmarkets.com.

Learn how to make money with low-risk, low cost online businesses.

The Official Geezer Guide to Starting on Online Business, Skip McGrath