15 Money-Saving Tips to Ease Your Tax Day Pain

Photo credit: Rachael Ray Show Aired April 15, 2015

by Lisa Lozano

It’s tax day, and whether you owe big or are getting a hefty refund, we’re sharing 15 money-saving tips that will either ease the pain or help your stretch your refund further.

Tip 1: Use cash and checks to see where your money is really going. -- financial expert Alexa von Tobel

Tip 2: Use apps on your phone to find savings. For example, there are apps that show you where the cheapest gas is, where fee-free ATMs are, and price-comparing apps. – Viewer Tip

Tip 3: Break all of your expenses into “needs,” “wants” and “savings.” You might be surprised that some things that you think are “needs” are really “wants” and can be trimmed. – Bill Rancic

Rachael Ray Show

Tip 4: Use the smallest shopping cart or basket at the grocery store to reduce the impulse to buy items you don’t need. – Melissa d’Arabian

Tip 5: Cook big – prepare large portions to get bulk pricing savings, and then “roll over” the leftovers into multiple additional meals. – Rachael Ray

Tip 6: Before you hit the checkout line when shopping, look at your cart and see if there’s one thing you can remove. – Alexa von Tobel


Rachael Ray Show

Tip 7: If you take a little extra time to prepare dried beans and shred your own cheese, you’ll save a ton on per unit pricing -- couponing expert Cindy Livesey

Tip 8: Credit card debt compounds daily, so make an extra payment in the middle of the month. -- Alexa von Tobel

Tip 9: Freeze your credit cards – literally! Put your credit cards in a cup of water and pop them in the freezer – having to defrost them will curb impulse purchases! – Alexa von Tobel

Rachael Ray Show

Tip 10: Check out the organic produce section first because organic is not always more expensive. Check to see what organic produce is on sale, then move on to conventional. And remember – not all organic produce is created equal. If you’re not using the peel, conventional might be an okay option. – Melissa d’Arabian

Tip 11: Follow these rules to improve your credit score: pay your bills on time, don’t apply for a bunch of credit cards, and if you have several credit cards, spread your debt among them. – Bill Rancic

Tip 12: Use the 50/20/30 rule to make budgeting simple. The way it works is, 50 percent of your income should go to essentials, 20 percent should be saved for the future, and 30 percent should go toward your lifestyle – traveling, gifts, eating out, etc. – Alexa von Tobel

Rachael Ray Show

Tip 13: Stack manufacturer and store coupons to get items super cheap – or even free! – Cindy Livesey

Tip 14: At least once per month, assess your pantry and cook with only what you have on hand, to make sure you’re using all your ingredients. – Viewer Tip

Tip 15: Shop with a list for a higher likelihood you will stay on budget. – Alexa von Tobel

What’s your favorite tip for managing your household budget? Tell us below.

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