Is your "money at work" stretching as far as you would like? Today we list some suggestions -- supplied by Ticker readers and WBAL listeners -- designed for people with limited financial resources:
"In grocery stores, ask for coupon savings in cash rather than have cashier deduct them from your total. Place the money immediately in the bank. In last four months I saved $591 that way -- not bad for spending $140 a week for ourselves and eight children." (Mrs. Linda Johnson).
"Most frivolous spending is for fast food; buy your food at the grocery store and cook it at home. Also, be wary of high-pressure people selling you junk bond funds, etc. Conduct research before you buy." (Steven James).
"Instead of delivered pizza, buy ready-made crusts and other ingredients at the grocery store and make your own. Save $200 a year." (Stan Modjesky).
"Start each day with folding money only; clear all coins into a piggy bank and deposit them regularly." (Drew Carberry).
"Help the state and yourself; buy one lottery ticket and pray." (Pat O'Brien).
"When you reach a minimum amount for a growth mutual fund, invest that amount and watch it grow and grow." (Ralph Edwards).
"Do full laundry loads at off-peak hours such as when I watch TV at 10 p.m. And for birthdays use blank note cards with short, newsy letter. Pay bills at bank for 25 cents vs. 29 cents for a stamp." (Anne Smawley).
"Roll spare coins, bank them or buy EE Savings Bonds. Since our daughter's birth in 1986 we saved $800 with just coins, toward her education. Hope it will buy one book by then." (Judy Stringfield).
"Everybody seems to have just enough to get by, so live like someone with 10 percent less income, save the difference. Have broker deduct fixed amount every month, painless way to save. At 10 percent interest, a 25-year-old will have 6,324 times his monthly investment at retirement." (Joseph Cotton).
"When using coupons, don't take the wrong sized product just to get the best deal. Do arithmetic in the store. Also, don't use automatic teller machines; find banks that don't charge for this." (Robin Sanders).
"Educate yourself about investments. Read 'money' books and magazines in libraries. Money magazine is excellent for its case studies. Think about good ways to make money, instead of concentrating only on saving it." (Frank Blatt).
"Monthly deduction into an IRA mutual fund should work very well. Select a fund that best meets your objectives and hold it long-term" (Vernon Tyler).
"Do part-time work. I secured the following jobs by answering newspaper advertisements: demonstrating cameras, taking store inventories, evaluating restaurants (you get a free meal), organizing trips, etc." (Mrs. Winifred Davis).
"Today people seek instant gratification. But my advice is: create a budget you can live with, don't live on credit cards, keep some money in savings and be patient -- we don't need instant gratification." (Susan Tayman).
"Average wage earners cannot afford to retire. And we must use creativity to develop additional income sources -- cooking, sewing, cleaning, typing, ironing, etc. This way, we also gratify a personal desire of achievement." (Maggie Henry).
"Have your eyes and mind alert to educate you for the business world; never make hasty investment decisions." (Mrs. Mildred Tavik).