Saturday, December 4, 2010

6 Ways Conventional Wisdom Wastes Money

Rose Raymond
Saturday, December 4, 2010

Updated guidelines, better ways to save.

Most of us learned the basic tenets of budgeting, housekeeping and auto maintenance from our parents. But times have changed, and some of the things you believed to be true are not the case anymore.

Following are several examples of conventional wisdom that may cause you to needlessly waste money. Dig in and learn how to effortlessly save money by thinking outside the box.

Change Your Oil Every 3,000 Miles

The little sticker placed on the car windshield reminds you to change a car's oil every 3,000 miles -- regardless of make, model or scenario.

But many experts now say the 3,000-mile oil change is dead. Why? New car engines and oil quality have advanced to the point where cars can go 5,000 to 10,000 miles without a change.

"Generally speaking, vehicles don't need to be changed every 3,000 miles anymore," says Tara Baukus Mello, author of Bankrate.com's Driving for Dollars column. "It's somewhere between 5,000 to 10,000, unless they have an engine oil sensor, and then it could be anywhere."

However, don't automatically assume you can push oil changes beyond 3,000 miles.

"It's important to consult your owner's manual for the frequency, the number of miles, the length of time between changes and the type of oil -- and to follow whatever those instructions are," Mello says.

Use Sheets With Sky-High Thread Counts

New sheets usually have the thread count listed on the packaging. There's a misguided notion that more is better, says Barbara Flanagan, author of "Flanagan's Smart Home: 98 Essentials for Starting Out, Starting Over, Scaling back."

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Sheets with a lower thread count are better for several reasons, Flanagan says. They can be washed and dried faster, which saves money on laundering, as they take up less space and dry quicker.

In addition to the money saved, lighter sheets are better for your skin, she says.

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A Note from Bob:

Do you consciously strive to conserve all forms of energy and other resources that you use? Do you strive to impact on the environment but lightly. With expanding populations and dwindling resources in the world, none of us can afford to not practice Energy Conservation

Remember: the “personal” conservation steps that we all practice individually daily makes a difference. Our efforts will benefit our children and their sons and daughters.

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