50 WAYS TO SAVE MONEY
July 16, 2009 by Garrett Hawley
You can have more money to spend on vacations this summer just by following 50 simple tips guaranteed to fatten your bank account!
Many family budgets already feel the pinch during the recession, but financial consultant Carolyn McKinney says your family can save 10 percent on yearly expenses if you apply these simple suggestions:
ENERGY
1. Put a lid on pots when you’re cooking. Trapped steam cooks food faster, using less energy.
2. Don’t put hot leftovers in the refrigerator. They’ll heat up the whole fridge – and it will use more energy to keep things cool.
3. Clean your range and oven regularly. They’ll work more efficiently and cost you less.
4. For cooking and baking in small quantities, use an electric skillet, broiler oven or toaster oven instead of your oven.
5. When washing clothes, use hot water only for whites and hard-to-clean items. Cold and warm water are all right for the rest of your laundry.
6. Don’t pour too much soap into the washing machine. An over-sudsed machine uses more energy.
7. Clean the dryer’s lint trap after every use. A lint-free machine works more efficiently.
8. Don’t overheat your water. A hot-water heater setting of 140 degrees – or “medium” if your heater dial isn’t numbered – is adequate.
9. Turn off small appliances as soon as you’re through with them, including your coffeepot, iron, electric skillet and curling iron.
10. Whenever possible, use fluorescent lights instead of regular bulbs. They provide three times the light for the same amount of electricity. They also last 10 times as long and produce less waste heat.
11. Check your air-conditioner filter once a month during te cooling season. Vacuum or replace it as necessary.
12. Set your air conditioner to 78 degrees. For every degree you raise your AC’s thermostat, you cut your electricity bill by 3%.
FOOD
13. Don’t buy something simply because you have a coupon for it. Clip coupons, but only for what you need. You can use the newspaper or print out coupons online.
14. Choose meat cuts you can serve in different dishes to avoid waste. Round steak, for example, is great in stew, stir-fry, Stroganoff, chili and even hamburgers if you have a meat grinder.
15. Plant a vegetable garden. It’s a funy hobby that keeps you active and puts food on your table. Those without back yards can participate in community gardens, or just grow herbs on your windowsill.
16. When grocery shopping, stick to your list. Impulse buys really add up – and they can easily bust your budget.
17. Don’t buy trendy foods. They’re more expensive and less versatile than real food.
18. Make your shopping list while checking your store’s weekly specials. Plan your menus to include these specials.
19. Stock up on discounted foods that have a long freezer life or shelf life.
HEALTH & BEAUTY
20. Give yourself beauty treatments at home. Manicures and facials are easy to do – and you can buy everything you need at low prices in beauty supply stores.
21. For a good workout, climb stairs rather than invest in an expensive stair-climbing machine.
22. Buy vitamins through a mail order website. You can save 50 percent over store prices.
23. Purchase medications at a chain drugstore. They buy in bulk and pass the savings along to customers. If you have health insurance, ask about their mail order program.
24. Have your hair cut and styled twice a year by a professional, then trim it yourself the rest of the time.
25. Buy shampoo, conditioner and skin lotion in the largest available size. They cost more in smaller sizes.
AUTOMOBILE
26. Have your wheels aligned once every two years or every 30,000 miles. Your tires will last longer and will give you better gas mileage.
27. Set your tire pressure two or three pounds above the manufacturer’s recommendations. This will give you better mileage and better fuel economy.
28. Get your brakes inspected once a year. Sometimes they rub too much, reducing your fuel economy and increasing your expenses.
29. Buy the lowest octane gasoline that doesn’t knock in your car. It costs as much as 10 cents a gallon less than high octane.
30. Shop carefully for auto parts. Prices vary widely from one store to another.
31. Check all fluids in your car at least twice a month to avoid a costly major failure.
EXTRA INCOME
32. Shop at flea markets and garage sales, the resell your bargains for a profit at your own garage sale or online on sites like eBay and CraigsList.org.
33. Turn your home into a factory. Produce something you can sell, like candles, scarves or artificial flower arrangements.
34. If you have the space, rent a spare room to a college student or working person who’s looking for reasonably-priced lodging.
35. Learn a skill – giving a massage or doing manicures or pedicures, for example – that will put money in your pocket. Check local schools for continuing education courses.
36. If you work from home, offer a dog-walking service to neighbors. Dog owners prefer using someone they know, and you can do it during breaks from work.
FINANCE
37. If you bought a home when interest rates were high, consider refinancing at a lower mortgage rate.
38. Check on discounts offered by your insurance company. For cars, most companies offer discounts for air bags, anti-lock brakes and safe drivers. At home, burglar alarms and dead bolts usually earn a discount.
39. Check the financial pages of your newspaper to find the credit cards offering the lowest interest rate.
40. Call around to your local banks for the most attractive interest rates on savings accounts and CDs.
41. Prepare your own tax return. Take an inexpensive or free class at a local community college to learn how.
GENERAL
42. Cut down on phone calls that use up valuable minutes on your mobile phone plan. E-mail or send text messages whenever you can.
43. Considering renting items that you don’t use often, such as carpet cleaners.
44. Limit the number of cleaning products you buy. Vinegar, ammonia, bleach and baking soda can clean the whole house.
45. Take care of minor maintenence problems before they become expensive disasters.
46. Buy clothes that you can wear throughout the year.
47. Trade services with friends and family. For example, babysit for someone who will mend your clothes.
48. Never pay full price for clothes. Shop sales, factory outlets and discount websites.
49. Cut down on extras like magazine purchases and health club memberships.
50. Buy books at a used-book store or flea market. You’ll save 50 percent or more, with no sacrifice in reading pleasure.
