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Food, Fuel and Funding Retirement - One hundred simple ways to help save money

It comes as no surprise that record costs for food, fuel and other living expenses are forcing many Americans to not only cut back on funding their retirement accounts, but also to tap their retirement funds to make ends meet. Economic hardship has even forced some households to utilize credit cards as a temporary means of covering everyday living expenditures.

Here at AARP Financial, we understand how difficult and stressful it can be when money is not sufficient to cover expenses as they come due. Choosing between fueling the car and funding the retirement account is a no-brainer. Despite this very challenging economic environment, however, we believe that households should continue to set aside some money for retirement. At the very least, households should establish or continue to maintain a "rainy day" fund. While this may sound easier said than done, there are a couple of ways that we can help.

First, all of the AARP Funds have a very low minimum investment requirement. While some mutual fund companies require initial deposits of $2500 or more, opening an account with a single-sum investment at AARP Financial requires a minimum investment of $100. More importantly, the minimum is only $25 if you sign-up to make subsequent periodic investments of $25 or more. While investing $25 in an AARP Funds' account may not seem as though it will make a major difference in your overall investment or retirement funding, it does establish the habit of investing. This may not be as easy at other mutual fund firms that require subsequent investments in increments of $250-$500.

Ultimately, inflation will moderate, economic conditions will improve, and household budgets will be less strained. When this occurs, retirement funding can be increased. In the meantime, we have compiled 100 simple recommendations to help you meet your expenses and save for retirement. You'll be surprised how quickly small savings can add up. Keep in mind that some of these recommendations may not be suitable for everyone. Consider your individual circumstances carefully before implementing any lifestyle changes.

1. Create a budget.
2. Bring lunch from home.
3. Brew coffee at home and bring a thermos.
4. Pay down high interest credit card debt.
5. Cancel unused club memberships and magazine subscriptions.
6. Eliminate unused or unnecessary phone services.
7. Cancel unwatched cable or satellite channels.
8. Comparison shop among cable, satellite and phone providers. Inquire about retention discounts.
9. Avoid impulse buying and unnecessary purchases.
10. Pay bills online to reduce the risk of incurring late fees and to avoid paying for postage.
11. Use a phonebook or online directory to avoid paying for directory assistance.
12. Visit a beauty school for a discounted hair cut. Kid's haircuts are sometimes offered free of charge.
13. Visit the local dental school for a less expensive dental exam.
14. Inquire about free samples or generics when a prescription is needed.
15. Find golf courses that offer discounted tee times.
16. Stay in shape. Check with healthcare providers for discounted gym memberships.
17. Pay with cash whenever possible.
18. Create a list before going to the grocery store and stick to it.
19. Shop at low price food stores. Convenience stores usually charge higher prices.
20. Shop for groceries online. This saves gas and online stores sometimes offer exceptional deals.
21. Buy frozen vegetables. Frozen vegetables last for long periods and rarely go bad.
22. Buy store brands instead of national brands. Both products are often produced in the same mill.
23. Use the Sunday paper to find weekly deals and specials.
24. Use coupons.
25. Leave the kids at home and grocery shop alone.
26. Buy snacks in bulk from warehouse clubs rather than vending machines.
27. Limit buying junk food as it is expensive and unhealthy.
28. Compare prices, use self-serve, and use the lowest-octane specified in your auto's owner's manual.
29. Keep tires inflated to their proper pressure. Under-inflated tires increase fuel costs.
30. Remove excess and unnecessary items from vehicles. Excess weight lowers fuel economy.
31. Ensure that the vehicle's air filter is clean.
32. Avoid hard accelerating or braking.
33. Pass up the automatic car wash and wash the car at home.
34. Drive less and walk or bike as an alternative.
35. Carpool or utilize public transportation.
36. Consider buying a smaller vehicle with better gas mileage or a hybrid.
37. Consider buying a pre-owned vehicle instead of a new one. Ask for an extended warranty at no charge.
38. Consider getting rid of a vehicle.
39. Ask about low mileage, safe driver or anti-theft device discounts when shopping for auto insurance.
40. Consider reducing comprehensive and collision insurance if the vehicle has a very low book value.
41. Eliminate private mortgage insurance (PMI) if your home equity is greater than 20%.
42. Utilize rebates and submit the rebate as soon as possible. Many rebates have a time limit.
43. Ask for lunch specials when dining out.
44. Order water instead of soft drinks when dining out.
45. Save leftovers from dining out for another meal the following day. Two meals for the price of one.
46. Consider dining out for breakfast or lunch rather than dinner.
47. Inquire about senior discounts when eating out.
48. Buy used DVD's. Some stores even offer a lifetime warranty on used DVD's.
49. Borrow books, movies and music from the library instead of buying these items.
50. Shop for used textbooks online; ask if the school bookstore is willing to price match.
51. Ensure that your house is properly insulated to save on cooling and heating charges.
52. Install and use a programmable thermostat for home heating and cooling.
53. Place window air conditioners on the shady side of the house.
54. Turn the air conditioner up a few degrees in the summer.
55. Turn the heater down a few degrees in winter.
56. Replace incandescent light bulbs with compact fluorescent light bulbs.
57. Ask the local utility company for a free energy audit.
58. Plug electrical devices into a surge protector and switch off when not in use.
59. Adjust energy usage. Some electric companies offer time-of-use plans.
60. Watch for incentives, rebates and tax credits for purchasing energy efficient appliances.
61. Use the draft mode when printing at home to save ink.
62. Install low flow showerheads. This can reduce water consumption by 50%.
63. Install faucet aerators to cut water flow from 3 to 4 gallons per minute to as little as a half-gallon.
64. Regularly maintain home heating and cooling equipment as this will prevent costly repairs in the future.
65. Use a water filter to eliminate purchasing bottled water.
66. Hang clothes out to dry rather than using a dryer.
67. Wash and iron dress shirts at home to eliminate paying for professional laundering.
68. Wash clothes in cold water to save on water heating costs, this may also help clothes last longer.
69. Wash only full loads of clothes and dishes.
70. Use grocery bags to line the trash can.
71. Quit smoking.
72. Consider a push mower. Push mowers can be easy to use and eliminate the need to buy gas.
73. When choosing vacation spots, try to visit countries where the dollar is strong.
74. Avoid high ATM fees by carrying sufficient cash.
75. Find an ATM card that reimburses for ATM fees or offers a rewards program.
76. Pay bills in full and on time each month to avoid late fees and interest charges.
77. Ask for a one-time waiver if a late charge or overdraft fee is incurred.
78. Ask the credit card company to lower your interest rate.
79. Before spending on anything, ask, "Is this really needed?"
80. Buy goods off-season.
81. Consider buying goods at consignment shops, thrifts and auctions.
82. Take advantage of discounts that memberships such as AARP or AAA offer.
83. Collect and save loose change.
84. Recycle cans and bottles for extra cash and for the environment.
85. Hold yard sales or use the internet to sell items that are no longer needed.
86. Donate items to charitable organizations for potential tax deductions.
87. Comparison shop when cell phone contracts are set to expire. Ask about retention discounts.
88. Find a cell phone plan that bundles text message usage.
89. Bundle cell phone and land lines. Many phone companies offer discounts for bundled service.
90. Avoid renting cars at the airport if possible. Rental locations away from airports usually have fewer surcharges.
91. Check your personal auto policy for duplicate coverage before paying for rental car insurance.
92. Avoid taking cabs. It is less expensive to walk or take public transportation.
93. Comparison shop on the Internet; use the research to shop locally. Ask about price matching.
94. Attend movie matinees as ticket prices are often much cheaper.
95. Skip the movies and wait for the DVD release. DVD release times are getting shorter.
96. Check newspapers for free events: concerts, fairs, theaters, art galleries and museums.
97. Take advantage of your company's 401k and any other workplace savings accounts.
98. Find mutual funds with low expense ratios and no loads or sales charges.
99. File your taxes for free. Check out www.irs.gov for a list of free tax providers and eligibility requirements.
100. Maintain brokerage accounts that have low or no account maintenance fees.

AARP Financial Inc. does not provide tax advice. Please consult a tax advisor for information pertaining to your particular situation. The information and content provided herein is general in nature and is for informational purposes only. It is not intended, and should not be construed, as specific recommendation, or legal, tax or investment advice, or a legal opinion. Individuals should contact their own professional tax or investments advisors or other professionals to help answer questions about specific situations or needs prior to taking any action plan based on this information.

The mutual funds described in this site are sold only to U.S. residents.

An investment in the funds involves risk, including possible loss of principal. Please consider the investment objectives, risks, charges and expenses of AARP Funds carefully before investing. To get a prospectus containing this and other information, visit www.aarpfunds.com or call 1-800-958-6457. Read it carefully before you invest.

While AARP has licensed the use of its name to AARP Funds and endorses the services provided by AARP Financial Inc., AARP does not offer financial products or services itself, and cannot recommend that you or any specific individual should purchase any particular product or service. AARP Financial Inc. is a registered investment adviser and a subsidiary of AARP.

AARP Financial Inc. is the investment adviser and administrator for AARP Funds and underlying portfolios. ALPS Distributors, Inc. is AARP Funds' distributor. AARP Financial Inc. is not affiliated with ALPS Distributors Inc.