This guest post is from Benjamin Feldman (@BWFeldman), writer and content strategist at ReadyForZero.com, a company helping people get out of debt.

At the beginning of this year, I had several thousand dollars in credit card debt and I was ready to pay it off. But I knew that I needed to cut down on my spending in order to have enough money left over to start paying down my credit card balance.

So I did some research and started finding ways to cut expenses. One of the things I realized is that your fixed expenses – the ones that seem to be locked in – like your auto insurance and rent, often have some flexibility after all.

Below are some tips I’ve found for reducing those fixed expenses:

1. Renegotiate Your Cell Phone Plan

When it comes right down to it, we pay a lot for our cell phones – not always for the phones themselves, but for the monthly calling plan (and data plan, in most cases) that comes with them. These companies count on the fact that we sign up for a plan when we’re excited about our new phone and then simply pay the bill every month – which means a steady cash flow for them.

But what if you need to get out of debt or simply want to save more of your take-home pay each month? If that’s the case, you should try to get that cell phone bill lowered. First, look at your most recent statement and see what you’re actually paying for. It’s possible your bill includes things you signed up for but are no longer using, like an extended data plan, unlimited text messaging, or an additional phone line.

Decide what level of service you actually need, and then research how much that would cost if you purchased it from another provider. When you find the best rate, call up that company and ask if they can guarantee that rate while waiving your cancellation penalty fees from your current provider. If they can, then you’re in business. But first call your current provider and see if they can match the offer – in many cases, they will because they don’t want to lose you as a customer.

2. Cut Your Cable Bill… Or Drop It Entirely

Another monthly expense that we all seem to have is the good old (actually not so good and not so old) cable bill. But you’re stuck with that one, right? Wrong. You can use similar tactics described above to lower the cost of your cable bill. Even if there are no competitors in your area, you can still use leverage you have as a loyal customer to reduce your rate. That’s because there are now so many alternative ways to get TV shows and other entertainment online.

Call up your cable company and tell them you are thinking about switching to Netflix or Hulu instead of being a cable subscriber. See if you can get a discount for 6-12 months or if they can take certain charges off your monthly bill – especially if you have ‘extra’s that you don’t need, like a second cable box or premium channels that you rarely watch. And if you need more details on alternatives to cable, check out this post on the ReadyForZero blog.

3. Save Money on Your Auto and Renters/Home Insurance

We’ve all seen the ads on TV telling us to look for better rates on auto insurance. It turns out, that’s not a bad idea. Keep in mind, that you can often save more with the company you’re currently with (due to their loyal customer program). However, that doesn’t mean you should assume that you already have the best deal.

Find your statement and see how much you’re paying right now. Also, make sure you understand what type of coverage you’re paying for. Then start calling around and find out which company may have a lower rate – for the same coverage. If you can get a lower rate quoted to you, take that back to your current insurance provider and ask if they can match it. Also, make sure you ask them about all the possible discounts that might apply to you, such as the one for buying your auto and home (or renter’s) insurance from the same company, the good driver discount, the family discount, etc.

4. Get a Good Workout for Less

You probably want to be healthy and get your recommended amount of exercise; but who says you have to pay an arm and a leg for an expensive gym membership? Especially when free and low-cost memberships exist, it’s worth downsizing or eliminating your gym membership. If your workouts consist mostly of running on a treadmill or doing sit-ups and push-ups, you can probably do without a gym membership. On the other hand, if you need to use certain exercise machines only available in a gym, look around for discount coupons available at stores like Costco or online that can cut your monthly gym costs in half.

5. Try to Lower Your Rent

This one will be tough for some people – especially if you live in an apartment that is managed by a corporate leasing office. However, if you have a landlord that you personally know, you might be surprised that you can find ways to get a discount on your rent. You might ask if you can help maintain the plants and landscaping around your apartment or help with do-it-yourself projects like repainting worn exterior walls in exchange for a reduced rental rate. I’ve seen instances when this kind of agreement worked quite well.

Even if you have a mortgage, there are ways to lower your monthly housing costs. For one thing, if you have a guest bedroom that is not being used, you could consider finding a renter. With any luck you might find a respectful and quiet person whose monthly rent payment will help cover a significant portion of your mortgage. You can also research whether refinancing would help to lower your payment, but make sure that doesn’t force you to pay more interest in the long run.

I hope these tips will help you lower your fixed expenses and get you on your way toward achieving your financial goals. If you want more tips on how to save money and streamline your budget, check out our Budgeting Tips resource center. Or, if you’re trying to get out of debt by the end of this year, take a look at our Student Loan Debt and Credit Card Debt resource centers. No matter what, stay motivated and keep moving forward!

Photo: Shutterstock

When I speak to people about credit reports and credit scores one of the things I always do is ask the audience members to raise their hands if they’ve requested their free annual credit report.

Sadly, on a good night only about half the people in the audience raise their hands. A new report from the Consumer Financial Protection Bureau (CFPB) confirmed my simple surveys. Far too few people request their reports each year.

At a minimum you should check your credit report at least once every 12 months. There are a lot of reasons to get it, and here are five:

It’s free. Never pass up a freebie, especially when it can affects your financial health and well-being. Your credit report plays an important part in your credit transactions and many other financial relationships.  Get your free credit report. 

It’s an important step in rebuilding and maintaining good credit. Reviewing your credit report periodically will help you make sure it is in good shape when you are ready to apply for new credit and enable you to monitor your progress if you are recovering from past credit problems.

Photo: Shutterstock

It’s an important part of managing your personal finances. You should review your credit report just like you do your bank statements and credit card bills. Managing credit, keeping track of spending and putting aside savings are all essential to being financially successful.

It’s often the first indicator that you are an identity theft victim. If you find names you don’t recognize, Social Security numbers that don’t belong to you, or accounts that aren’t yours, you might be a fraud victim. Experian and the other national credit reporting companies can help you stop the credit fraud and prevent future misuse of your identity.

It’s the first step in correcting any information you feel is inaccurate. The vast majority of the time people find everything is accurate. But if you do find something wrong, your personal credit report comes with instructions for submitting disputes and contact information including a toll-free telephone number, Internet address and mailing address.

Do you love saving money?

Do you ever use apps to help you cut costs and stay on budget?

In our continuing quest to promote financial literacy and help consumers live credit smart, we asked some of our favorite personal finance writers to share a favorite app that helps them stay on budget and save money.

Check out these great apps:

The Ballpark Calculator

I really like the Ballpark calculator at choosetosave.org because it gives you a quick, easy estimate of how much you need to save in order to retire comfortably.

Knowing *what* you’re saving for always makes saving easier for people.

Jean Chatzky is the financial editor for NBC’s TODAY show, is an award-winning personal finance journalist, AARP’s personal finance ambassador, and the host of “Money Matters with Jean Chatzky” on RLTV. You can reach her on Twitter @JeanChatzky and find more tips like this in her book: Money Rules The Simple Path to Lifelong Security.

 Mint.com

I’m a big fan of Mint, which tracks all of our financial accounts and alerts us when we’re paying fees or reaching a spending limit that we’ve set on our accounts. Mint makes it easy to review our transactions so I can see exactly where our money is going and make adjustments as necessary.

Liz Weston, writes for MSN, and author of “There Are No Dumb Questions About Money.”

I love Mint.com. It’s just so helpful to be able to look at the state of all of your accounts in one place, and the site makes it easy to set budgets and savings goals. Plus, as a visual person, I find their graphs super helpful — it seems kind of silly, but it’s so much easier to have the different sections of my budget visualized instead of looking at them as a series of little numbers in a spreadsheet.

Meg Favreau is the Senior Editor at Wisebread.com and tweets @wisebreadmeg. She’s also a comedian, food enthusiast, and author of the book Little Old Lady Recipes.

I like Mint.com’s app — it securely pulls your bank account and credit card information into one place so you can quickly see how much you’ve spent and what kinds of things you’re spending too much on. It also helps you set spending caps and then will email when you’re about to go over these.

Catey Hill is the author of “Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less and Saving More.” She regularly writes about personal finance for the Pay Day blog on Forbes.com and for SmartMoney.com.

ShopSavvy Shopping App

ShopSavvy is a must-have shopping app for Android users. The app lets you scan barcodes and compare prices across some 20,000 retailers, either the brick and mortar ones or those online. Beats going to each store individually to do canvassing.

Plus, you’ve got reviews to make sure you’re purchasing products that others have already tried and tested; it’s got wish lists for those nudge/wink/hint times of the year, and price alerts for the busy folks who still want to save on deals. The best part? The app is free!

Kathryn Finney is the founder of TheBudgetFashionista.com and named “One of the Top Ten Women in Money by AOL.

Google Calendar

I like Google Calendar a lot because I can set up email and text alerts for when bills are due or when a particular promotion is ending. This helps keep my bill payments up-to-date as well as lets me know when it’s time to renegotiate items like cable TV fees.

Glen Craig is the founder of FreeFromBroke.com.

Budgetable App

I have so many that I use and love, but my favorite would have to be Budgetable. It not only show you a full snapshot of your finances, but also includes a deals map so you can save even more dough.

Kelly Whalen is the blogger behind TheCentsiblelife.com, and has been featured in Money Magazine, USA Today, Consumerist, and MSN Money Blog.

My Money Center

My favorite tool for saving money and managing my finances is LearnVest’s My Money Center –and it’s free! Through My Money Center, you can connect all of your accounts, from credit cards and debit cards to savings accounts, loans and investment accounts.

Alexa von Tobel is the founder and CEO of LearnVest.com

And check out the new LearnVest app:

RetailMeNot

Right now, my favorite tool for saving money is the RetailMeNot mobile app that shows coupons and deals both online or in store. It’s especially great to have when I’m on the road traveling. I can find discounts on everything from hotels to rental cars to Starbucks (and who doesn’t want to save at Starbucks?).

Carrie Smith is the blogger and founder of CarefulCents.com

RedLaser & Other Barcode Scanning Apps

The app I use the most on my iPhone is called RedLaser. It provides product search results sorted by the lowest price for almost any item that has a bar code.

It helps me save money at the grocery store, and also when I am shopping at department stores. It provides the best price on items from both brick-and-mortar stores and online retailers.

Andrew Schrage is the Editor-in-Chief of MoneyCrashers.com, which has been featured in the Wall Street Journal, US News and World Report, Yahoo Finance, Forbes, and more.

I really like the bar code scanning apps out there, where you scan the bar code of a product and it tells you if you can buy it for less somewhere else.

I’ve found a lot of things cheaper on Amazon and those apps (there are a million of them, I think I use Red Laser the most) are great for helping you save a few bucks, especially if you’re not in a rush to get it. Sometimes I don’t even end up buying the item!

Jim Wang is the blogger behind Baraineering.com.

I’m a big fan of those barcode scanning apps. While you’re shopping, you can just take an image of the barcode and it will allow you to compare prices at other stores in town, as well as online. It’s a great way to comparison shop and get the best value for your money.

Miranda Marquit is the founder of PlantingMoneySeeds.com.

 ImpulseSave & LevelUp

Obviously, we’re huge fans of ImpulseSave. Our app allows you to turn those impulse buys into ImpulseSaves right in the moment  – transferring that money you would have spent into a separate savings account under a goal that you really care about.

If you can buy on Impulse just about anywhere – why shouldn’t you be able to save on impulse too? Another staff favorite is LevelUp, which allows you to make payments with your phone while also getting loyalty discounts from local merchants. It’s beautifully simple to setup and use, and loyalty rewards are automatically applied to your transaction (no more carrying around those “free sandwich” cards).

Phil Fremont-Smith is the co-founder and CEO of ImpulseSave.com

 Hotel Tonight

My favorite new app is Hotel Tonight. Check it out the day that you need a hotel, and it will let you know if your city has any inventory on sale! The app is adding cities constantly and it’s a fun way to catch a last minute hotel sale. You can get rooms for up to 70 percent off.

Natalie P. McNeal, creator, TheFrugalista.com, author, The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous Life

 Craigslist App

I really like the Craigslist app. When I find something that’s been lying around my house for too long without getting used, I take out the app, snap a pic, and list my item for sale. The app is also good for quickly finding a used version of something I may need.

Philip Taylor is the blogger and founder behind PTmoney.com, and has been featured on CNBC, Fox Business, U.S. News and World Report, and MSN.

 Peapod Grocery Shopping App

My Peapod grocery shopping app– it makes it so easy for me to shop for my groceries online (for delivery) that I can easily plan my meals, see what’s on sale, and make my shopping list. I can do it all while I’m waiting in line or watching TV.

Kimberly Palmer is the Sr. Editor at U.S. News & World Report and author of GenerationEarn.com

 Pencil and Paper

Whether you scratch a budget out on a ledger with a pencil like we did in our early years of marriage or whether you use a high-tech budgeting software that syncs with your phone and computer, I believe a written budget is imperative for true financial success. Without it, all your money will just pass through your fingers like sand with little to show for it.

Contrary to what many people think, following a budget gives you freedom. You can guiltlessly spend the money you’ve allotted in your eating out budget without having to worry about how you’re going to afford to pay your electric bill since you already have money set aside for that and all of your other necessities.

Crystal Paine is founder of MoneySavingMom.com and author of The Money Saving Mom®’s Budget. Follow her on Twitter or Facebook.

I don’t own a smartphone (that saves me money) so I don’t use any apps.  My favorite tool is a pencil and a piece of paper, which I use to make a menu plan and a grocery list.  The menu plan helps prevent me from eating out and the grocery list helps me buy only the things I need.

Kristen is the founder of TheFrugalGirl.com, where she shares practical tips for simple, frugal living. She tweets at @thefrugalgirl can also be found at facebook.com/thefrugalgirl.

ReadyForZero

When I decided to get out of debt earlier this year, I knew I would use ReadyForZero, a free online tool that helps you organize and pay off your debts as fast as possible. But I didn’t realize just how useful it would be! The most important feature is that it lets you make a plan that works with your individual budget, and it can be adjusted at any time. Then it tells you which account has the highest interest rate, and helps you target that one with timely e-mail reminders and a bright blue progress bar to keep you focused on your goal.

Ben Feldman is the writer and content strategist for ReadyforZero.com

ING App

My favorite app is ING’s, only because of the awesome check deposit tool. You take pictures of the front and back of a check, and can deposit it easily. The app has dramatically reduced the number of trips I make to the bank! Other banks have similar apps, I just happen to use ING so it’s the only one I have personal experience with.

Cathy is the founder of ChiefFamilyOfficer.com and wrote a great post on creating a price book to help you save money.

Yelp

My husband and I consider eating out a special treat both financially and nutritionally.  When we indulge, we love to get special deals by using Yelp.  It is a great way to see what others think of the restaurant and occasionally to enjoy free wine or two-for-one dining.
Maxine Sweet is vice president of Experian North America’s Public Education organization and leads Experian’s consumer education, community involvement and corporate responsibility teams.

BigCrumbs.com & Ebates.com

So what types of applications or tools do I use to help save me money?  I thoroughly appreciate any great comparison shopping tool or review site.  These tools and sites allow me to get a better grasp for a product and service before I commit to a purchase.  I also like using cash back sites such as BigCrumbs.com and Ebates.com. These cash back shopping sites can help you save money even as you spend.  I manage to earn enough cash back from these sites to help defray the costs of my holiday shopping every Christmas season.

Silicon Valley Blogger (SVB) runs The Digerati Life, a personal finance site that offers tips and resources on saving money, stock investing, credit management and general money management. You can check out her twitter page at @TheDigeratiLife and Facebook.

Excel Spreadsheet

I’m a tinkerer by nature, so my favorite tool for saving money is actually my trusty old spreadsheet. Whether it’s my budget, investment performance or net worth, I can tailor the information to my liking without worrying about security, updatability or cost.

David Ning is the founder of MoneyNing.com.

Ah, there are so many! I get that question often. So often, that I put together a list of all of the money saving products I use. Some favorites include the American Express Blue Preferred card, which gives 6% cash back on groceries and a low-flow showerhead.

G.E. Miller is the founder and blogger behind 20somethingfinance.com.

Do you use any apps that help you stay on budget? Comment below and let us know.

Photo: Shutterstock

In our busy lives, it is easy to miss paying a bill.

However, your lenders won’t accept excuses for why they you didn’t pay them as you agreed to do.  For example, your bankcard company cannot make excuses for being late in paying the merchants where you made your purchases.

When you don’t pay, they still have to pay on your behalf.

Missed payments can have a severe impact on your credit scores. And lower credit scores will often penalize you with higher interest rates – which can end up costing you tens-of-thousands of dollars throughout your life.

So here are five strategies to help you build the best credit scores:

1. Never miss making a payment.

One of the best ways to establish a great credit history is to demonstrate that you can manage credit and pay all of your bills as agreed.

Late payments will likely cost you in penalties and can cause your interest rate to rise significantly.

But, when you miss an entire payment for the month, it will be reported in your credit history and can have a terrible impact on your credit.

So, even if it is only the minimum amount, make a promise to start paying every bill on time. You see, paying your bills as agreed shows that you’re trustworthy and diligent in paying off debts.

When you want to apply for new services, companies will want to do business with you. They will trust you to be a good customer and are more likely to offer you their best rates and lowest down payments. And, companies will want to hire you because you have demonstrated that you manage your finances well and will likely be a good manager of their resources.

Strategies to help you pay your bills on time:

• Set-up auto payments with your bank
• Use an online calendar to set-up alerts to remind you to make payments
• Schedule an email to be sent to you when a bill is due

2. Reduce your debt on “revolving credit” accounts.

You probably know that your credit scores are impacted by the amount of debt you owe.

But you may not know that when lenders consider doing business with you, they are going to analyze your utilization rate.

That’s just a fancy term that informs lenders how much debt you have vs. the amount of credit available to you.

For example, if you owe $5,000 on a credit card and have a credit limit of $10,000, you’ve used up 50% of your available credit.  That means you would have a 50% utilization rate, which is very high and likely to hurt your credit scores.

Work on reducing to your debt so that you’re utilization rate is under 30% on all your revolving credit accounts.  Ideally, you should only charge what you can pay in full each month which means you aren’t using credit to live beyond your means.

Steps to help you find credit cards with high utilization rates:

1. Review the last credit card billing statement for each card
2. Write down the credit card debt owed
3. Find out what your credit limit is for each card
4. Divide your credit card debt by your credit limit (and then multiply by 100)
5. Calculate your utilization rate for each card, and identify any cards over 30%

3. Keep older credit card accounts active.

Some people make the mistake of closing old credit accounts simply because they aren’t using the accounts anymore.

But older credit accounts with good history can actually help you build your scores over time.

Closing the account will mean that great credit history will get deleted after 10 years, which could actually drop your score.

So keep older, good credit accounts live.

4. Audit your credit report to make sure it’s accurate.

Many people don’t realize that they are able to access their credit report for free from each credit bureau every year.

This means you could pull your credit report every 4 months from a different bureau to look for signs of fraud.

It is important to review your credit report regularly to make sure your identifying information is correct so that all of your accounts can be correctly linked to you.

You also want to make sure your accounts are being reported correctly by your lenders.

How to get your free credit report and dispute any errors:

• Go to annualcreditreport.com and verify your identity by answering authentication questions to access your credit report for free.  If you can’t pass authentication, you will be provided instructions on how to write.
• Review your credit report and look for any errors (accounts that do not belong to you, delinquent payments that were not late.)
• Dispute any errors as instructed and allow up to 30 days for the account to be verified with your lender
• If the lender changes the status of their account, they will also report the update to any other credit reporting company to which they provide their data.

5. Communicate directly with your lender

If you have a delinquent payment listed and you don’t agree that it was late, you may want to check directly you’re your lender to find out why their records do not agree with yours. If they have misapplied a payment, you may need to provide them proof of your payment.

Remember that your goal is not just to make sure that your credit report is accurate with Experian.  You want to make sure that your information is correct with the source so that it won’t impact your terms with that lender and that it will be reported correctly by that lender to all who check your credit references.

It takes time to build a great credit history, and there are no shortcuts.

By following these five strategies, you can begin the process of building a great credit history, which will produce great credit scores.

Recommended Reading:

• How to Dispute Credit Report Information Easily
• 7 Stubborn Credit Score Myths & Misconceptions Debunked
• What You Should Know About Credit Repair Companies

>> Subscribe to the Experian Blog by Email for More Credit Tips

Photo: Shutterstock

In the recently released Experian 2012 State of Credit report, we found that the national average credit score is currently 750, which is up one point from 2011.

We also crunched some numbers in more than 100 cities throughout the country and ranked the top 10 and bottom 10 cities according to credit score.

The infographic shown here reveals who came out on top (Minneapolis, MI) and bottom (Harlingen, TX) as well as everyone in between. There were also a few cities who are slowly, but surely pulling themselves up—those cities include Las Vegas and Bakersfield.

Credit scores can affect everything from your ability to open a credit card to determining your rates when buying a home or a car. Credit plays a key role in all of our lives and it’s never too late to start becoming more aware of the behaviors that influence your score.

Check out the full report to see where your city stands.

Are you looking for even more ways to keep more money in the bank?

Experian knows the importance of this for every person’s financial health.

So, as part of our overall commitment to financial literacy and in conjunction with our just released annual State of Credit report, we contacted some of our favorite personal finance writers and asked them to share one of their favorite ways to save money.

Check out these frugal-living tips:

Create a “wait and see” list.  If you spot something you think you want to buy, write it down (in a physical notebook you carry with you, or as a note in your smartphone) or take a picture of it and store the picture in an app like Evernote. Then give yourself a “cooling off” period. Three days is good; three weeks may be better. Chances are pretty good that your passion for it will have cooled, and you’ll realize you can put the money to better use elsewhere.

Liz Weston, writes for MSN, and author of “There Are No Dumb Questions About Money.”

One of my favorite tips is to run your financial life like you run your social life. Set-up calendar alerts for everything you need to do to keep your finances running smoothly, from paying your bills and your rent to checking your credit report once every four months. When it comes to bills, set a calendar alert for three days before the bills are the due, so you never make a late payment. And in January, set a calendar alert that reminds you to start preparing your taxes, so you’re not overly stressed when April comes around.

Alexa von Tobel is the founder and CEO of LearnVest.com

My favorite frugal tip is this: Keep track of your money before you spend it. I hesitate to use the word “budget” because it’s one of those words that makes people shut down, like “diet” or “colonoscopy.” In the popular imagination, “budget” connotes deprivation, sacrifice, pain.

In fact, a budget is just a tool to make your money go where it will do the most good. That can mean rent, mortgage and retirement – but it might also mean “nice vacation paid for in cash.” You’re not hoarding every dime in case something awful happens, but rather directing your money so that something good will happen.

Some people call it a “spending plan” or a “spending intention statement.” Call it whatever you like. Just make the darned thing. I recommend Mint.com because I’ve heard so many positive reviews from users. (Color me old-school: I don’t use any apps or budgeting tools myself.)

Donna Freedman writes the Frugal Cool blog for MSN Money and is a staff writer at Get Rich Slowly. Her website is DonnaFreedman.com.

The best way to save more money in your everyday life is to ask yourself one question each time you reach for your wallet to make a purchase: “Do I really need this?” If you can learn to differentiate between a “want” and a “need,” you should be able to cut a massive amount of spending. Do you need to buy a coffee and a candy bar from the convenience store? Do you have to to upgrade your cell phone and digital camera? Do you really need new clothes, and do you have to eat out at restaurants each week? Chances are, you can get by without spending money on these things. By getting into the habit of questioning the necessity of each purchase, you can certainly reduce your spending and build your savings.

Andrew Schrage is the Editor-in-Chief of MoneyCrashers.com, which has been featured in the Wall Street Journal, US News and World Report, Yahoo Finance, Forbes, and more.

If you can’t see it and can’t touch it, you won’t spend it.

(This is why 401(k) plans work. The money is swiped out of your account before you ever see it, so you won’t spend it.)

Jean Chatzky is the financial editor for NBC’s TODAY show, is an award-winning personal finance journalist, AARP’s personal finance ambassador, and the host of “Money Matters with Jean Chatzky” on RLTV.  You can reach her on Twitter @JeanChatzky and find more tips like this in her book: Money Rules The Simple Path to Lifelong Security.

I consider myself a frugal guy (some might even call me cheap). But ironically, I’m not super disciplined when it comes to money.  Srict budgeting never really worked for me. Too me, budgets feel like diets and are just really hard to stick to – and they often end in more frustration than results.  My philosophy is that being successfully frugal shouldn’t require me to completely change my behavior.  Instead, I find ways to create new, financially healthier habits that fit naturally into my life the way I actually live it already.

One trick I like to use is “minus one”. Every time I get in a checkout line, I stop, look at what I’m about to purchase, and remove one item. If you’re already a disciplined shopper and only buy things on your list, you probably don’t need this. But for the 99.9% of us who tend to leave stores with more than we came for, it’s an easy way to break the cycle of mindless impulse buying.

Phil Fremont-Smith is the co-founder and CEO of ImpulseSave.com

I’m a sucker for a coupon code! It doesn’t matter if you are shopping online for a new shirt or to purchase Internet domain names, there’s probably a coupon code for you to get it for less. CouponCodes4You and RetailMeNot are good sites to check out.  Or, if you are buying something online, Google the name of the item and “coupon code” and see if a coupon code pops up!

Natalie P. McNeal, creator, TheFrugalista.com, author, The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous Life

Focus on cutting expenses that you aren’t using, and finding discounts for what you do use. Many times there are monthly expenses in our budgets for things we just aren’t utilizing: memberships, monthly service fees, etc. Cut them out before you waste more money. If, however, an expense is justified, ask yourself if there is a way to reduce the expense through a discount, coupon, or simply by asking for a lower price.

Philip Taylor is the blogger and founder behind PTmoney.com, and has been featured on CNBC, Fox Business, U.S. News and World Report, and MSN.

Don’t give up. Saving, living frugally, and improving your relationship with money are all great goals — but they’re also big goals. And anytime you attack a big goal and have a setback, it can be easy to get frustrated, think you just can’t do it, and give up. But financial success isn’t achieved by just playing the short game — it’s a long-term plan.

Moreover, it’s important to remember that there are a lot of different ways to approach living frugally; just because a technique worked for other people, it doesn’t mean it’s going to work for you. So whenever you have a setback, a lapse, or a failure — learn from it, research other options, retool, and try again. If you don’t give up, eventually, you’ll get to where you want to be.

Meg Favreau is the Senior Editor at Wisebread.com and tweets @wisebreadmeg. She’s also a comedian, food enthusiast, and author of the book Little Old Lady Recipes.

Learn how to cook.  If you actually enjoy and look forward to the process–and the results–than it’s so much easier to avoid the temptation of take-out or expensive dinners out.

It’s also pretty easy to teach yourself, thanks to the Food Network, Allrecipes.com, and other food websites and blogs.

Kimberly Palmer is the Sr. Editor at U.S. News & World Report and author of GenerationEarn.com

Cut back on eating out! Food cooked at home is so much cheaper and healthier.  If you’re just getting started, keep things simple and start small. 

Try packing your lunch a few days a week, or making dinner a couple of nights per week.  Over time, your skills will improve and you’ll be able to do more and more of your own cooking.

Kristen is the founder of TheFrugalGirl.com, where she shares practical tips for simple, frugal living.  She tweets at @thefrugalgirl can also be found at facebook.com/thefrugalgirl.

I personally always bring my lunch to work.

I not only save a lot of money, I am not tempted to make unhealthy choices.  Good for my waistline and my savings account.

Maxine Sweet is vice president of Experian North America’s Public Education organization and leads Experian’s consumer education, community involvement and corporate responsibility teams. Maxine is responsible for helping consumers understand credit reporting and use credit wisely.

My favorite frugal tip is to calculate how much of your time something will cost before you buy it. I created a really simple calculator on Bargaineering.com that can take your annual salary, a price (whatever you’re buying), and calculates how many hours you’ll need to work to help pay for it. I’ve found that thinking about purchases in terms of how many hours you need to work to pay for it is far more enlightening than looking at that dollar value.

Jim Wang is the blogger behind Baraineering.com.

I think prioritizing your spending is one of the most important things you can do to save money in the long run. Look at your spending. Really think about what you are buying, and why you are buying it.

Then decide how important it is in your life. If you realized how much you spend on things that aren’t important to you, you’d cut some purchases from your life. Prioritize your spending, and focus your efforts on what’s most important to you, and stop spending on the unimportant things. You’ll save a lot more.

Miranda Marquit is the founder of PlantingMoneySeeds.com.

Check your free credit reports every year from annualcreditreport.com.  You can get one from each of the three consumer reporting companies: Experian, TransUnion, and Equifax.  Why do you need to do this?  To make sure the information on your reports is accurate.  What’s on your report translates to your credit score.  Your credit score is used to calculate loan rates such as your mortgage or a car loan.  By keeping your report accurate you can potentially save thousands over time.  Seeing your report can also help you see where your money is going.

Glen Craig is the founder of FreeFromBroke.com.

I came up with this tip initially for budget shoppers that frequent my site, but I’m sure you’d see how it can be useful in buying stuff in general.

Before buying anything, always consider the item’s Cost Per Wear, or the CPW. Just divide the cost of the item by the number of times you will wear it in a given period. So a $100 shirt worn 20 times has a cost per wear of $5. The goal is to shoot for a CPW of less than $3.

The CPW is important because there’s a tendency for some bargain hunters to focus only on the price of an item, which often leads to purchases based upon price (i.e. wow, this is so cheap!) versus usefulness (wow, I wear this everyday). In the long run, having something you don’t need negate any savings you may have initially made during the purchase.

Kathryn Finney is the founder of TheBudgetFashionista.com and named “One of the Top Ten Women in Money by AOL.

Every time I go to the bank I ask the tellers how many $2 bills they have, and then I “buy” them all up and save them at home.  Sometimes they only have two or three, and others thirty, but no matter how many they have I snatch them up and add it to my “side savings” shoebox where I know I’ll never touch them. Because, let’s face it, they’re so COOL!  How often do you see $2 bills?  It’s forced savings at its best, and you rarely ever miss the money. I literally just started doing this tip myself 2 weeks ago and have already amassed over $100.

J. Money tries to make money interesting over at BudgetsAreSexy.com. You can also find him on Twitter @BudgetsAreSexy and/or at your local bar.

My favorite frugal tip is to keep a price book [to track the lowest price of an item], which is the only way to know if you’re getting a good deal and whether it’s time to stock up. It’s a fundamental, basic step to take when looking to live frugally – especially if you want to maintain a certain standard of living! I’ve written multiple times about price books, but here is my best blog post.

Cathy is the founder of ChiefFamilyOfficer.com and wrote a great post on creating a price book to help you save money.

My best and most used tip is to perform an expense audit every quarter. This means going through all your bills and spending and finding anything you are spending money on that isn’t giving you the value you’d like.

That doesn’t mean your daily latte if it’s what keeps you pumped and happy for work. It may mean cutting the cable, slashing your cell bill, or even re-evaluating your need for a car.

Kelly Whalen is the blogger behind TheCentsiblelife.com, and has been featured in Money Magazine, USA Today, Consumerist, and MSN Money Blog.

My favorite frugal tip of the moment is to make sure you comparison shop, especially when it comes to big ticket items.  I think that comparing prices when it comes to smaller items may not be worth doing if the savings are minimal.  After all, I subscribe to the “time is money” principle.

However, with costlier items such as car or appliance purchases and particularly with labor/service type contracts, you may find that the variances in pricing and cost can be much larger.  If you do your homework, you may be able to save quite a bit.  A common savings tactic that a lot of savvy savers do is to check on items at a store and compare their prices to their online prices.  You can also search for online coupons before ordering anything through a website.  Lastly, look for reward sites that allow you to earn something back when you spend.

Silicon Valley Blogger (SVB) runs The Digerati Life, a personal finance site that offers tips and resources on saving money, stock investing, credit management and general money management. You can check out her twitter page at @TheDigeratiLife and Facebook.

Instead of spending hundreds of dollars at the optometrist, order eyeglasses through ZenniOptical.com. You can get prescription eye glasses for as low as $12 to $20, including shipping. It’s easy to do and I’ve been very happy with the two pair of glasses I’ve ordered from them. In fact, once it took them longer than it should have for my order to arrive so I contacted their customer service and they sent another pair of glasses free of charge!

Crystal Paine is founder of MoneySavingMom.com and author of The Money Saving Mom®’s Budget. Follow her on Twitter or Facebook.

The 48-hour rule — it’s simple but it works. For a purchase over $100, try to wait 48 hours before buying it.

This is your “cooling off period,” where you think about whether you can truly afford the item and whether you really need it.

Catey Hill is the author of “Shoo, Jimmy Choo! The Modern Girl’s Guide to Spending Less and Saving More.“  She regularly writes about personal finance for the Pay Day blog on Forbes.com and for SmartMoney.com.

My favorite frugal tip is to find a saving buddy to keep you accountable.

Not only can the pair of you help keep each other in check, you can discuss other tips and best of all, it makes the whole journey more fun since you can celebrate the milestones together!

David Ning is the founder of MoneyNing.com.

Ride your bike to work as much as humanly possible. Doing so is the ultimate frugal and impact reduction move. I once calculated that reducing my commute from 25 miles to a bike ride provided enough savings to completely fund my retirement. Plus, it keeps you in shape.

G.E. Miller is the founder and blogger behind 20somethingfinance.com.

My favorite frugal tip is to never pay retail price for anything. It doesn’t matter if it’s food, travel or clothes, these days there are unlimited ways to save money. From bartering for a discount to using coupons and earning cash back on every purchase, there’s always a way to get something for less. I think the last time I paid full price for anything was 5 years ago.

Carrie Smith is the blogger and founder of CarefulCents.com

And if you’re not very frugal, some words from Ben Stein …

I am the least frugal, most spendthrift man on this earth. I have no frugal tips except: 1.) I never rent movies in hotel rooms. 2.) I never use the hotel phones when I can use my cell. 3.) I have never had lobster ever in my life and don’t want it. I am pretty good at making a living and I am halfway decent at investing. But I have never been a frugal man and probably will never be. My extravagance is a disgrace to humanity. On the other hand, my parents were frugal and left my sister and me a meaningful estate. What happened? The IRS took most of it. So, why bother?

Ben Stein is a New York Times bestselling author, economist, actor, and just finished writing “How to Really Ruin Your Financial Life and Portfolio,” which will be published by Wiley in October.

Do you have any frugal tips to share? Or do you already follow some of this advice?  Share your thoughts in the comments below.

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A credit report is like a report card that provides lenders insight into how you use credit.

If you’re paying debts on time and keeping debts low on credit accounts, you’re building a great credit history that will help you earn lower interest rates on loans and will help you in a variety of other ways, too.

There are many myths going around about what hurts or improves your credit scores.

Here is a list of seven popular myths about credit scores and credit reports you should know about:

Myth #1: Checking your personal credit report will hurt your credit score.

Fact: Reviewing your own credit report results in what is called a “soft pull,” or “soft inquiry,” meaning it will only be seen on a personal credit report.  And this has no impact on your scores.  Everyone should check their reports at least annually. It’s part of good credit management and completely free from AnnualCreditReport.com.

However, when you apply for credit, a lender will pull and review your credit report, and a “hard inquiry” will be added to your report. Hard inquiries are shown to other lenders because they may represent new debt that doesn’t yet show on a credit report as an account. Hard inquiries can affect credit scores.

Myth #2: There is only one credit score that all lenders use.

FACT: There are many different credit scoring models used by lenders in the marketplace today. And different models have different score ranges. Generic scores may be used by many types of lenders and businesses to determine general credit risk. The three national credit reporting agencies — Experian, Equifax and TransUnion — worked together to develop VantageScore®, a new generic credit score that uses the same formula for credit information from all three bureaus.

To make it easier for people to understand, a letter grade is associated with the number ranges for the VantageScore. A grade of “C” is considered good, but, of course, an “A” should be your goal. Custom credit scores are developed by many different companies to predict risk for specific types of lending or for individual businesses, such as auto loans or retail debt.

Myth #3: Paying cash for everything can help your credit score.

FACT: Using credit accounts is the only way to help you establish and build credit.

Using cash or debit cards, which are like electronic checks, for everything isn’t better than using credit because you aren’t building your credit references.

In order to qualify for the best rates when you want to buy a car, or house, or apply for a student loan, you need to have demonstrated that you can manage credit responsibly.

The best way to build a positive history is to use credit cards for purchases that you can pay in full each month and be sure that you make all loan and rent payments as agreed.  Over time that positive history will produce the best scores and ensure that you are offered the best terms when you apply for new services, including cell phones and utilities.

Myth #4: The best way to improve credit scores is to pay off all accounts and close them.

FACT: Paying off all debts can be one of the fastest ways to improve credit scores. Closing accounts, though, can hurt credit scores. One of the most important elements in credit scores is the proportion of total balances to the total credit limits. Paying off debts lowers that proportion, improving credit scores.

However, closing accounts eliminates some of the available credit limits, making the balances appear to be higher compared to the overall limits. For example, a person who has $15,000 of credit available on multiple credit cards but only has a balance of $5,000 is only using 30 percent of available credit, which is good. However, if the person closes a $5,000 credit account because the credit card is not being used, the available credit amount drops to $10,000 and results in 50 percent of available credit being used — a level that can knock points off of that person’s credit score.

Myth #5: Great credit is tied to how much money and assets a person has.

FACT: Credit reports don’t list bank account balances or assets, so those numbers don’t impact credit scores.

Information about income, investments or assets such as stocks or bonds will also not be in a credit report. Likewise, there is no information about savings accounts, certificates of deposit or other non-debt banking relationships.

A bank account does, however, may affect credit scores if a consumer bounces checks and does not pay the money back.

If the balance owed to the bank gets turned over to a collection agency, then that information will show up on a credit report.

Most importantly, having savings and investments can be a critical factor in protecting your good credit if you have a financial emergency and can’t make all of your payments from your monthly income.

Myth #6: Academic background and degree level can affect your credit score.

FACT: Education level is not part of a credit report, so it has no bearing on credit scores. Information in credit reports pertains only to debt-related information. Therefore, loans, credit cards and payment history will be reported, as well as bankruptcy, tax liens (debt owed to the government) and civil judgments (debt owed through the courts).

Information about income, investments or assets such as stocks or bonds will also not be in a credit report. Likewise, there is no information about savings accounts, checking accounts, certificates of deposit or other non-debt banking relationships. Additionally, under the Equal Credit Opportunity Act, a creditor’s scoring system may not use race, gender, marital status, national origin or religion as factors.

Myth #7: Poor credit can’t prevent you from getting hired.

FACT: Federal law allows potential and current employers to view a modified version of a candidate’s credit report for employment purposes, such as hiring and promoting, but the decision to include a credit check is left up to the individual employer.

In certain industries, knowing that a candidate has a sound credit history is a very important part of the hiring and screening process and can help in preventing application fraud. Credit reports used for employment purposes are reviewed manually and never scored. There is also a requirement to obtain written permission before accessing a credit report for this purpose. So, you will never be surprised and will have the opportunity to explain any issues reflected in your credit references.

Have you heard of other credit score myths? Or curious about other factors that might hurt your credit? Let us know in the comments.

Recommended Reading

• 5 Ways to Rebuild Your Credit Score
  
• 20 Common Credit Myths You Should Know About
• Why Credit Scores Change With Little Account Activity
• Checking Your Own Credit Report Will Not Hurt Your Credit Scores
• The Credit Impact of Missing One Mortgage Payment

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Unfortunately, many people have received poor credit advice and been taken advantage from credit repair companies.

Many people don’t realize that there isn’t anything that a credit repair service is able to legally do for you that you can’t do yourself for little or no expense.

In 1997, a federal law was created as a response to the number of people who have suffered from a consumer repair scam.

Under this act, credit repair companies:

• Are prohibited from taking consumers’ money until they fully complete the services they promise
• Are required to provide consumers with a written contract stating all the services to be provided and the terms and conditions of payment. Under the law, consumers have three days to withdraw from the contract
• Are forbidden to ask or suggest that you mislead credit reporting companies about your credit accounts or alter your identity to change your credit history
• Cannot knowingly make deceptive or false claims concerning the services they are capable of offering
• Cannot ask you to sign anything that states that you are forfeiting your rights under the Credit Repair Organizations Act. Any waiver that you sign cannot be enforced

Quality credit counseling services are often non-profit and charge little or no fee for their services. Look for non-profit credit counselling organizations in your area if you need help. They will offer, and in some cases require, that you complete budget training and money management courses as part of their non-profit programs.

If all a credit counselor offers is to negotiate a debt repayment plan or to set up a “debt consolidation” plan, look elsewhere.  Unless you also learn to manage your credit, you will end up with the same problems or find yourself even deeper in debt in the future.

As always, you can always work directly with us to dispute lender debts on your credit report.  It’s completely free to report errors with us and you can get started right now on our simple app.

Recommended Reading

• 5 Ways to Rebuild Your Credit Score
• You Can “Fix” Your Credit Report Without Help
• There is No Need to Pay to Improve Your Credit
• Debt Management Firms Aren’t Necessary to Negotiate with Lenders
• What Accounts to Start Paying Off First When You Have Bad Debts

>> Subscribe to the Experian Blog by Email

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I talk with consumers almost every day, and one of the most common questions I get is how to dispute information you believe is being reported inaccurately. The process is very straightforward and simple as long as you follow this step-by-step process. I find that most people who are having difficulty skipped step number 1.

Step 1: Get your credit report directly from Experian
The first step is critical, and it’s the step that causes most people to stumble. You must get your personal credit report directly from Experian before starting the dispute process. A credit report from a lender or other business is not a personal credit report.

There are four reasons Experian requires you to get a personal credit report before entering a dispute.

Your personal report:

A. Provides information you need but that lenders don’t get. Your personal credit report includes a report number you will be asked to provide, instructions for submitting a dispute, and contact information including a web site, toll-free telephone number and mailing address.

B. Ensures you are looking at information from Experian and not one of the other national credit reporting companies. While lenders receive the same credit report information, the report they receive is typically coded for computer review and may be merged with information from the other national credit reporting companies and other sources, such as your credit application. That sometimes leads to confusion and misunderstanding about which credit reporting company provided the information.

C. Ensures you have a current credit report. I often hear from people who are trying to improve their credit history but are working with a credit report that is months or even years old. In just a few months the information in your report can change tremendously. Getting a fresh report ensures you and Experian are looking current information.

D. Enables you to easily understand the credit report. Your personal credit report is in an easy-to-read format that frequently resolves confusion and frustration caused by a report formatted for business review. No special training or knowledge is needed to read and understand your personal credit report.

Here are the ways you can get your personal report:

A. You can get your Experian report free once every 12 months at AnnualCreditReport.com

B. You can also get it free from the credit reporting company used by your lender if you have adverse action taken, such as having an application declined, receive welfare assistance, are unemployed and seeking employment, or live in a state the provides one or more free reports annually at www.experian.com/reportaccess. If you believe you are a victim of fraud or identity theft, you can add a security alert and request a free report at www.experian.com/fraud. For more information visit www.experian.com and follow the applicable links.

C. For a nominal fee, if you do not qualify for a free copy under one of the circumstances described above, you can request your personal report online by visiting www.experian.com/reportaccess

D. By subscribing to a credit monitoring service, such as Experian Credit Tracker, which provides unlimited credit report access, credit scores, monitoring and resources.

Step 2: Follow the dispute instructions provided with your personal credit report.
You can submit disputes online, by telephone or by mail.

It is very important to be specific with your dispute. State exactly what the issue is with an account. Experian’s online dispute system simplifies the process by providing choices for the most common dispute reasons.

Upon receiving your dispute, Experian will contact the source of the information, such as a lender, on your behalf. The source of the information is required by the federal Fair Credit Reporting Act (FCRA) to review its records and respond to the dispute.

Step 3: Allow 30-45 days for your dispute to be completed
The dispute should be completed within 30 – 45 days after it is received by Experian. That time-frame allows documentation to be mailed if necessary. However, most disputes can be conducted through automated processes. As a result, many disputes are completed well in advance of the 30-45 day period.

The source of the information will respond in one of three ways:

A. The information should be updated in response to the dispute

B. The information should be deleted from the credit report

C. The information should remain as reported

Once a dispute is completed you will receive a notice from Experian with the results of the dispute. If you do not agree with the history as reported by the source and cannot reach agreement, you may add a “Statement of dispute.” A statement of dispute enables you to explain why you disagree with how the information is being reported.

Businesses are notified that the statement is part of your report every time you apply for credit or other services. Lenders and other businesses can take the statement into account and may ask you for more details or documentation as part of their application review process.

Three steps is all there is to it. Just make sure the first step you take is getting a new, personal credit report directly from Experian and the dispute process should go smoothly.

Recommended Reading

• 5 Ways to Rebuild Your Credit Score
• You Can “Fix” Your Credit Report Without Help
• There is No Need to Pay to Improve Your Credit

>> Subscribe to the Experian Blog by Email

What did you do with that envelope that used to arrive once a year with estimates of your future Social Security benefits? You might have reviewed the information. You may have even filed the statement away as a reference. Now, this powerful financial planning tool is as close as the nearest computer.

“Often, people don’t think of their Social Security statement when thinking of their financial well-being,” says Rod Griffin, director of public education for Experian. “But your statement can be a valuable financial planning tool.”

Your SSA statement is now available online at www.socialsecurity.gov/mystatement. It provides an estimate of the amount of Social Security benefits you could receive upon retiring, but it can also help you with retirement savings strategies, estate planning and making decisions about disability insurance.

Retirement Savings

Knowing how much your Social Security payments will be can help you better understand how much you’ll need to save in other vehicles to fund your lifestyle during retirement. After reviewing your statement online, you may decide to adjust your 401(k) contributions, open an IRA or seek other avenues for funding your retirement.

The statement can also help you work with your current employer to ensure they’re withholding the appropriate amounts.

Estate Planning

Your online statement will also give you an estimate of how much your survivors might be eligible for if you die. This information covers both spouses and minor dependent children.

“This could be useful information when you’re planning how you will financially take care of your loved ones if you pass away,” Griffin says.

Estate planning often involves considering what sources of income will be available to survivors, and knowing how much Social Security benefits yours could be eligible for can help in the planning process.

Disability Decisions

According to the SSA, 62 is the earliest age people can collect a reduced Social Security retirement payment, and the full retirement age is 67 for people born after 1960. But a 20-year-old worker has a three in 10 chance of becoming disabled before reaching retirement age, and the average age of people receiving Social Security disability benefits is just 53 years old.

If you have a health problem that you know will lead to disability, knowing how much you could expect to receive from Social Security may help you make decisions about how much disability insurance you’ll need.

With the availability to access your Social Security earnings and benefit information online, it’s easier than ever to make use of this important financial planning tool. The SSA uses Experian’s fraud prevention services to securely authenticate and safeguard the identities of people accessing their earnings and benefits information online.

To access your statement, go to www.socialsecurity.gov/mystatement, create an account and provide the information as prompted. You’ll be able to access your benefit information and even see a history of your annual earnings for every year. For more information on how to live financially smart, go to www.livecreditsmart.com.

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