Money-Saving Tips for Your Life
Saving money doesn’t come easy, but using these money-saving tips may give your savings account the jump-start it needs.
Each section below provides ways to save a buck or two. We suggest you take the money saved and start Piggy bank saving for home an emergency fund.
Home
Install low-flow shower heads in your bathroom(s), which will conserve water and save you money on your monthly water bill—a win-win for you and the environment.
Instead of drinking sugary juices and sodas, opt to drink more water. Aside from being bad for your health, store-bought beverages can also get pricey. Water is free—and better for your body.
If you aren’t using them, turn off the lights and the TV. You might think the difference in your monthly electric bill is relatively minimal, but those dollar signs add up to big savings over long stretches of time.
Switch to CFL or LED light bulbs. Although they cost a little more to purchase, they last longer and use less electricity than the typical incandescent variety.When purchasing new appliances, go for the high-quality, energy-efficient option. It may cost more money upfront, but its durability, long lifespan and ability to save energy will save you a lot of money over the years.
Before you make a big purchase, wait 30 days. If you’re unsure about whether or not you need the item, the month-long waiting period will give you time to really think it through and decide if the purchase is worth your money. Usually those “impulse buys” are long forgotten within that timeframe, saving you cash.
Go through each item in every room of your home, and pull out all of the things you either haven’t used in a long time or don’t use at all. Make some money by selling them at a yard sale, on websites like eBay or Craigslist, or at a consignment store. You can also donate worn-out pieces and ask for an itemized receipt so you can get a tax deduction.
Make the switch to a programmable thermostat. This will drastically cut down on your energy consumption by adjusting the temperature in your home based on your daily schedule. New digital thermostats even let you control the temperature in your home remotely via an app on your mobile phone.
Each week, plan your meals and your grocery shopping list based on what’s on sale in your local grocer’s flyer. That way, you won’t pay full price for food, and you’ll keep yourself from buying extra items you don’t need.
Use your smart phone to create maintenance alerts and reminders for your appliances, such as your air conditioner, water heater and refrigerator. Keeping your appliances running like new will help you avert costly repairs.
Work
Bring lunch to work: Packing homemade food could save you upwards of $5 a day, racking up to a monthly savings of $100 or more.
Find alternative ways to commute to work that are cheaper than driving. Try public transportation, or—if you live close enough—get fit with an occasional walk or bike ride to the office.
If walking or taking public transportation to work isn’t an option, find out if any of your co-workers live near you and are willing to carpool. This will help both of you save on gas money and vehicle mileage.
Become familiar with—and take advantage of—all of the employee benefits provided by your company, such as training, discounts and investment options. Sometimes employers offer things like free event tickets or reduced-rate cell phone service, and some employees may not even be aware that those savings exist.
Avoid making unnecessary purchases by thinking of your spending in terms of your hourly wages. For example, if you earn $10 an hour and an item costs $100, ask yourself if that item is really worth 10 hours of your hard work.
Skip the daily run to the local coffee shop before or during work and drink a homemade smoothie with fresh fruit instead. It costs much less than that pricey gourmet coffee and it gives you the healthy, natural energy you need to get through your day.
Whether you choose to start your own side business at home or stay at the office an extra hour each day to contend for that promotion, putting more energy into advancing your career will give you less time to go shopping—and it may even put more money in your wallet.
If you get paid by direct deposit, find out if your human resources department can automatically deposit a portion of each paycheck into your savings account and the other portion into your checking account. You’ll be less likely to draw out money from your savings to make a questionable purchase.
If you’ve been going above and beyond your call of duty at work, ask your boss for a raise. Bump up your negotiating power by showing your manager solid numbers and statistics that demonstrate your value as an employee.
Search the Internet for fast, easy ways to earn some extra money on the side in your spare time, such as taking online surveys or mystery shopping. Make sure to seek out safe and legitimate sites, such as www.surveysavvy.com or www.harrispollonline.com.
Play
Rather than going out for food or entertainment, invite a few friends over for a game/movie night instead. You’ll still make great memories while saving loads of money. You’ll probably even be more likely to make better food choices at home, which is great for your health, too!
To avoid making impulsive and unnecessary purchases when you’re out shopping, keep your credit card at home and only use it in the event of an emergency.
If you’re paying for a monthly gym membership that you rarely (or never) use, cancel it. You can find plenty of ways to work out at home for free, potentially saving you anywhere from $10 to $100 or more a month, depending on the price of your membership.
Stock up for next year’s holidays the day after each major holiday. From decorations, to gifts, to costumes or gift packaging, items are placed on deep discounts at the end of each holiday. Buy these now and you’ll avoid paying full price for them the next time around.
Steer away from fashion trends, which can fall out of style quickly and end up wasting your money. Stick with classic, timeless clothes that you can mix-and-match so you don’t have to buy as many pieces. You might want to look into creating a capsule wardrobe, which is a minimalistic collection of about 30 necessary clothing items that can be combined hundreds of different ways to create outfits for every occasion. There are plenty of tutorials on the Web that will teach you how to put one together.
Florida is a host to many exciting free events, relaxing beaches and other beautiful natural landmarks. Rather than springing on an expensive restaurant or show, seek out and take advantage of all the opportunities for no-cost entertainment that are available in your neighborhood.
Pack your own snacks for long road trips or flights. They’ll keep you full and help you resist the urge to make a pit stop at a fast-food joint.
Hit the library for free multimedia entertainment. They have more than just books: You’ll also find movies, CDs and more.
Save cash and take up a new hobby at the same time by learning how to make things you typically store in your pantry, like soap, wine or beer.
Cut down on your cable service. It’s much cheaper to watch movies and TV shows via inexpensive online streaming services rather than paying sky-high prices for premium channels.