The Washington Post

Save $1,000 in 100 Days

By: Courtney Macavinta
Sunday, January 8, 2006; Page M05

One grand. It just sounds good -- and it feels even better when it's lining your pockets. Whether you need to stockpile an emergency fund, or you are just dying for a vacation, new wardrobe or shiny gadget, the money you think you don't have could be hiding. Saving just $10 a day will put a $1,000 in your pocket by mid-April if you start today. Here are some ways to generate this cash infusion:

GET COOKING. Forget your aversion to retro home-cooked cuisine -- crockpots, casseroles and frozen leftovers are in again. Invite friends over to whip up homemade grub together and swap servings. "If you just dedicate 15 minutes a week to planning a menu, it will save you hours and money," says Annette Economides, who with her husband, Steve, produces the popular Home Economiser bimonthly newsletter ( http://www.homeeconomiser.com ). Other ways to avoid spending dollars dining out: brown-bag lunch, go out for dessert instead of dinner, or save splurging on restaurant fare just for weekends.

SKIP PRICEY LATTES. Press-pot coffee with some warm milk is a great, cheap sub for designer java.

CREATE A HOME BAR. Love cocktails that cost a small fortune? Pitch in with your friends to stock a bar at someone's house, so you can hook up for happy hour on the cheap. (Bonus: You can gossip without shouting over the crowds.)

SEEK LOWER INTEREST RATES. According to Bankrate.com, on average, American credit card holders carry a balance of $9,205. Depending on the rate you're being charged, you could be losing your grand savings to interest payments. "You should call your credit card company and explain your situation; they might work with you," says Nick Jacobs, spokesman for the National Foundation for Credit Counseling ( http://www.debtadvice.org). If your credit card company won't lower the rate, try to transfer your balance to a lower-interest card. For instance, if you qualify, Citibank offers zero percent interest for up to one year on balance transfers.

CHECK YOUR CREDIT CARD BILL. Be on the lookout for bogus charges; you should also dump unnecessary credit card theft insurance -- federal law limits your liability to $50 if your card is stolen.

SLASH FIXED EXPENSES. See if you can get your car, home or renter's insurance down by upping your deductibles. Try using one company for all of your policies to save more. Visit Lowermybills.com for more suggestions.

REDUCE PHONE COSTS. Do you need a cell phone and a landline? If not, lose one. Check competitors' Web sites for better offers or think about using a low-cost Internet phone service. If you're rolling over lots of mobile minutes, switch to a lower-cost plan.

CUT SERVICES. Ditch anything you don't use religiously: Not hitting the $50-per-month gym at least twice a week? Are your Netflix collecting dust? Skip them and save.

SAVE MONEY ON HEALTHCARE. If your doctor's office visits or meds are costing you a pretty penny, sign up for your company's flexible spending account benefit, if it's an option. Then you'll get to save pre-tax dollars for medical expenses -- and even child care in some cases -- which can really add up.

HUNT FOR BARGAIN MAGAZINES. Check on the Web for your subscriptions, or trade glossies with your friends. One site to try: Mags4cheap.com.

DOWNGRADE BEAUTY SUPPLIES. If your shampoo, shaving cream or moisturizer costs more than what some people make all week, try switching to a cheapo sub at a quarter of the cost by comparing ingredients and getting a recommendation from your stylist, discount beauty store or product reviews (one good site: http://www.cosmeticscop.com/learn/reviews.asp ).

STOP GIFTING. When it comes to presents, think: "gifts are for kids." Instead of exchanging pricey presents with friends, share time and have fun potlucks instead.

WAIT TO BUY. Most important, when you feel the urge to impulse-buy, hold off, says Cate Williams of Money Management International: "Use the 24-hour rule and wait before you buy anything over $100. You'd be amazed how many things we can all pass on."

Courtney Macavinta