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5.0 FOUND MONEY - YOU MAY HAVE MONEY YOU DID NOT KNOW ABOUT; PERSONAL AND HOUSEHOLD FINANCE, HOW TO MANAGE YOUR BILLS AND YOUR MONEY

5.0.1 FOUND MONEY

Suppose you found $200. What would you do with it? What would be the best way to invest it for the most return? How about earning 200%?

As we have said you can save a ton of money and time by stocking up on items when products are on sale or on close-out or when you make a monthly trip to a warehouse store. We estimate that you can often save 30%-70% or more on non-perishable items that you know you will need such as light bulbs, toothpaste, greeting cards, automobile oil, etc. Simply put, stocking up is one of the best investments you can make.

There's only one catch; it costs more to stock up. You have to pay for three month's worth of dog food when you used to pay for it once a week. So where do you find the money to stock up? Here are some suggestions.

5.0.2 LOOSE CHANGE

Need some cash? Look in the coffee can where you store loose coins or the top of your dresser drawer where you dump all your change every evening. Do you have several other places where you dump loose dimes and quarters such as the glove compartment of your car or the bottom of a purse? Spend a few minutes, and put it all together. You will probably be surprised at how much you have.

According to informed estimates Americans have 6 billion to 10 billion dollars of loose change floating around. This works out to $50 or more per average adult.

This is money that is not earning any interest, or paying down interest on a credit card.

NOTE: Banks will not take loose change as they did when I was a kid. You must roll it into coin wrappers and give it to them in that form. A few, very few, banks will sort and count coins as a service.

The mechanical Mag-Nif coin bank sold at K-Mart for about $7.50 is great for kids and adults because it sorts and stores coins so that they can be easily wrapped. For people with lots of change there are battery operated coin sorters.

5.0.3 UNNOTICED INTEREST

If you have a savings account as part of your checking account, you might be amazed at how much interest you have earned over the years. These savings accounts are usually required by the bank for free checking.

Most passbook savings are only earning 2-3% these days, so it makes sense to withdraw that interest and bring your account down to only the minimum required to keep your free checking.

5.0.4 VALUE SIZE?

When you buy a large bottle of dishwashing detergent, how much are you really saving? As we have pointed out, it often costs you more than two small bottles. Manufactures can use confusing sizes to fool consumers into thinking they are saving money.

But even if you are actually saving a little bit, is it still worth buying? Probably not. If you are only saving 5%-10%, you should be able to do much better by stocking up. Take the money you've been spending on the "giant economy size" and really save on stock-up items at 30%-50% discounts.

5.0.5 DON'T SHOP ONE WEEK

Many of us have fairly well stocked freezers and pantries. Once a year eat for a week on the food you've got stored. This will save you one week's worth of grocery shopping, keep you from having to throw out old food, and, except for a short trip to buy essentials, save you time shopping.

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