5 Easy Ways To Save Money

Here are 5 easy ways to save money that don't involve a high risk or even a lot of effort on your part:

1. Get Your Cash In Gear
   After you've set aside more than enough money in your checking account for bills, food, etc., make sure you set aside a good portion of your paycheck to put into a high-interest account (money market, high-interest savings, etc.). Places like INGDirect and HSBC are great places to do just this. You can earn a nice 4-5%+ APY on your money which is tons more than your bank will pay you.
   
   If you have a bunch of money just sitting around gathering dust, think about CDs (also offered at the aforementioned banks) which will most likely offer a higher rate if you keep your money in for a long period.
   
   At ING's current rate (4.4% APY), if you just left $1500 laying in your account, you'd have $66.00 extra at the end of the year. HSBC offers higher amounts for balances over $25k!
   


2. Go Solar
   If you have the money, I suggest you front the cost of getting a solar powered home. The tax breaks and money you'll save will pay off in the long-run. Plus, your home value will go way up.
   
   If you don't have the money, then you may want to go with an alternative money saving method. You can get up to 30% off of a solar hot water system with the federal energy tax credit. Systems are in the neighborhood of $3500.00 installed. Depending on which state you are in, you can get a rebate of up to 60% off of the rest of the cost.
   
   You can save around $500.00 in your first year alone going this route, and even more as time goes on.
   


3. Raise Insurance Deductibles
   Figure out what you can afford to actually pay if you get into an accident with your car or had to do repairs on your home. Once you have a number, discuss it with your insurance agent and ask them how much you can save by increasing your deductible.
   
   You can save in the neighborhood of 15-30% off of your monthly payment by raising your deductible a few hundred dollars!
   


4. Save Your Change
   Spare change always adds up! Make sure to consolidate all of your spare change in a central place. It might not seem like much at first, but at the end of the month you will probably have a good amount.
   
   According to MSN Money, most people have $30.00 in loose change every month. That's not a bad dinner night once in a while!
   


5. Skip The Theater
   If you're like me, you LOVE the theater but those tickets aren't getting any cheaper. For the price of a movie ticket for one, you could afford at least two rentals from your local video rental place.
   
   For a little more than the price of the theater every month, you can subscribe to a great service like Netflix!
   
   You can save around $6.00 every month by staying at home and watching a movie!

So the total savings add up to an average of $84.00/mo, including the interest you'll gain on your high-yield savings accounts. That might not sound like much, but at around $1000.00 every year .. well, you can see for yourself. Not bad for a few minor changes, huh?