1. Call one of your vendors (car insurance company, cable, bank, homeowners insurance, electric company), tell them you’re trying to sreamline your budget and ask them what changes in your service you can make that would save you some money. Ask about discount programs, rebates, longevity bonuses, customer appreciation bonuses, or any other way they have you could lower your bill either on a one-time basis or longer term.

I did this about two years ago, and the savings were amazing. Almost every company I called had something to offer or suggest that saved money. In about an hour, I saved close to $1,000 over two years, and got a huge old energy-hog freezer hauled away out of my basement for free (actually, they paid me $35 to do it).

2. Check the online unclaimed property listings for every state you’ve lived in during the last 20 years, especially if you move around a lot. When you overpay a tax, fail to cash a utility deposit refund or insurance claim check, etc., and mailed notices to you are returned or not answered, the money is turned in to the state’s unclaimed property office and can be retrieved for years. Sometimes even unused gift cards show up there. If you are the heir of someone who has died, check under his/her name too.

2-Researching good growth stocks, for anyone who has already completed most of the above-referenced steps.
Bail on the overpriced Berkshire and go for some tech and med.

1. Zero fees. With a modest minimum balance, I’ve never paid monthly fees on my persoal account. I have a line of credit that serves as overdraft protection, if needed, so no overdraft fees. No bill-payer fees. A few years ago, I called up and said I was annoyed that they had started charging $11 a month on my business account, and was considering looking into other options. It was promptly removed.

2. A bank branch is two blocks from my office, convenient for dropping off deposits (from which I also get my walking-around cash so almost never have to use ATMs). For my business account, I do one or two deposits a week, so I’d be spending $ on postage and envelopes, and risk lost or mishandled mail if I used an online bank.

3. Telephone customer service is generally excellent, in my experience.

4. I occasionally need services like notarial, wire transfers, cashier’s checks, all of which are convenient and free.

5. The checking account interest rate sucks, but “escess” funds can easily be electronically transferred to my Schwab account for better rates.

6. The online interface is smooth and seems quite secure (more so than any other financial institution where I have accounts.)

7. Large checks clear quickly. This may not matter to most people, but in my business it does, and you would be surprised how long large checks from small local banks can take to clear.

8. Over the years, I’ve done three rental property purchase loans at good rates and low or no fees, as well as two or three home refis and three or four secured lines of credit at excellent rates, minimum hassle, and no fees. The current rate on my HELOC is 2.99%.

9. It has branches all over the country and even in some airports I’ve visited.

10. It offers a low-cost safe deposit box.

11. It provides a free $1,000 AD&D policy on the primary account holder, if you sign up for it.

12. It offers some useful free services for international travelers.

I’m sure everyone’s experience would be different; national banks are usually managed regionally and offer different services/fees in different areas, plus your amount on deposit, credit history, etc. probably all factor in to how you are treated.

One last thing to keep in mind is that, although national banks may not be “locally owned” they ARE locally staffed.

Clearly, a lot of people have found the big-bank brick-and-mortar services poor, and online banks obviously can offer higher interest rates because their costs are lower. But there are trade-offs, and using an online bank as one’s only bank will not work for everyone, either.

People should make their banking choices by shopping around and rationally considering their own particular needs, without biases either for or against either style.

PS: I don’t know what Everbank’s customer service is like on its banking side, but on its lending side, it was absolutely the worst banking experience of my life by a multiple of 10, and I’m not alone. If you don’t put money on deposit with them, they won’t have it to buy up loans with, and you will be saving some hapless borrower a ton of grief.

As for PaperBackSwap, I’ve gotten rid of a number of books there, but the titles I’m interested in never seem to be available. YMMV, of course.

I too marvel at the $20 definition of a “major” purchase. Surely you jest. What is your time worth?

I found its use limited. I found that all the books I’m interested in have either a long waiting list or a waiting list that never moves (i.e., nobody ever posts that book for swap). The books that are listed look like book-of-the-month discards or impulse buys.

I just wanted to show some gratitude for this article. I’ve been a regular reader for going on 1 year now. Your website was instrumental in changing my finance paradigm — I save aggressively but am not afraid to spend when I judge it worthwhile. In short, I’m totally at peace about money.

In light of that personal change, many of your articles deal with attitudes or philosophy and so merely echo sentiments that I already have. I enjoy reading them because I like your simple and direct writing style. But ultimately they’re preaching to the choir.

Articles like this are great for me because you’ve listed many useful specific ways to save money and improve one’s financial life.

Thanks much!

I agree with Meg. I’m sewing a patchwork duvet cover from old shirts. If you’re that way inclined it’s a great hobby.

Make quilts out of them. I have made fun personal quilts out of old t-shirts and old jeans. There is no reason any piece of fabric can’t be turned into a quilt (except the willingness to do it) and the quilt can have a lot more sentimental value.