Credit card companies frequently offer shopping programs with names like Main Street Savings on a 30-day free trial basis. These programs allow you to buy discounted gift cards (20% discount) for major national retailers like Target, Sears, and Home Depot.

The flexibility afforded by a HELOC loan can allow you to purchase (during the free trial period) a large amount of discounted gift cards for major retailers you frequent. Although you pay low interest on the home equity credit line, you receive a front-end discount of 20% on everything bought.

When combined with store coupons and sales, you can realize total savings of 70% or more!

A great resource with active discussion of the pros and cons of various discount shopping card programs is the Fatwallet.com finance forum.

Insurance premiums are another opportunity to reap savings. Insurers frequently offer steep discounts for annual homeowners and auto premiums that are paid up front. The ready availability of cash through a HELOC loan means you can take advantage of these opportunities. Of course you need to weigh the discount offered against the interest cost of your short-term HELOC loan.