Most
important steps and before you know it, your financial life is getting better
and better. What follow is top most great steps to take. Each of these
tactics is simple little moves you can make to improve your financial
situation. Some of them take just a few minutes, others might take an hour or
two, some of them require a bit of regular effort, but they’re all incredibly
simple – anyone can do them. Each of them also save significant money,
especially over the long haul, and when combined together these tips can save
you a lot of money now.
Obviously, not all of
these tips will apply to everyone. Just go through the list and
find ten or fifteen that do apply to you and use them in your life – you’ll
quickly find yourself saving some serious scratch.
60. Check out what
your town’s parks and recreation board has to offer.
My town has
several wonderful parks, free basketball and tennis courts, free disc golf,
trails, and lots of other stuff just there waiting to be used. You can go have
fun for hours out in the wonderful outdoors, playing sports, hiking on trails,
or trying other activities – and it’s all there for free. All you have to do is
discover it.
61. Air up your tires.
For every two
PSI that all of your tires are below the recommended level, you lose 1% on your
gas mileage. Most car tires are five to ten PSI below the normal level, so that
means by just airing up your tires, you can improve your gas mileage by up to
5%. It’s easy, too. Just read your car’s manual to see what the recommended
tire pressure is, then head to the gas station. Ask the attendant inside if
they have a tire air gauge you can borrow (most of them do, both in urban and
rural settings), then stop over by the air pump. Check your tires, then use the
pump to fill them up to where they should be. It’s basically free gas!
62. Start a garden.
Gardening is
an inexpensive hobby if you have a yard. Just rent a tiller, till up a patch,
plant some plants, keep it weeded, and you’ll have a very inexpensive hobby
that produces a huge amount of vegetables for you to eat at the end of the
season. I like planting a bunch of tomato plants, keeping them cared for, then
enjoying a huge flood of tomatoes at the end of the summer. We like to eat them
fresh, can them, and make tomato juice, sauce, paste, ketchup, pasta sauce, and
pizza sauce. Delicious (and very inexpensive)!
There are
often tons of free events going on in your town that you don’t even know about.
Stop by the local library or by city hall and ask how you can get ahold of a
listing of upcoming community events, and make an effort to hit the interesting
ones. You can often get free meals, free entertainment, and free stuff just by
paying attention – even better, you’ll get in touch with what’s going on around
you.
64. Take public transportation.
If the city’s
transit system is available near you, take it to work (or to play) instead of
driving your car. It’s far cheaper and you don’t have to worry about parking
your vehicle. When I lived in a larger city, I bought an annual transit pass
that actually paid for itself after less than two months of use compared to
using an automobile – and after that, for ten months, I basically could ride to
work (and to some events) for free. That’s money in the bank.
65. Cut your own hair.
I can cut
mine myself with a pair of clippers, for example. I just cut it really short
every once in a while and don’t worry about it too much. Just put a garbage bag
over the bathroom sink, bust out the clippers and scissors, and get it done.
Two or three cuts will pay for the clippers, and then you’re basically getting
free haircuts. With a bit of practice, you can make it look good,
too.
66. Carpool.
Is there
anyone that lives near you who works at the same place (or near the same place)
that you do? Why not ride together, alternating drivers each day? You can halve
the wear and tear and gas costs for your car – and for your acquaintance as
well.
67. Design your
“debt snowball.”
Everyone
needs a plan to help them get out of debt, so sit down and plot out what debts
you’re going to pay off and in what order. Simply having a plan goes a long way
towards bringing that plan into action, and paying off debts early is one of
the surest ways to put money in your pocket over the long run.
68.
Get a crock pot.
A crock pot
is perhaps the best deal on earth for reducing cooking costs in a busy family.
You can just dump in your ingredients before work, put it on simmer, and dinner is
done when you get home. There are countless recipes out there for
all variety of foods, and every time you cook this way, you’re saving money as
compared to eating out.
69. Do some basic
home and auto maintenance on a regular schedule.
Instead of
just waiting until something breaks to deal with it, develop a monthly
maintenance schedule where you go around your home (and your car) and perform a
bit of maintenance where it’s needed. This little activity, taking you just an
hour or two a month, will keep things from breaking down and help you see
problems before they become disasters.
70. Pack food before
you go on a road trip.
Have everyone
pack a sack lunch for the trip. That way, instead of stopping in the middle of
the trip, driving around looking for a place to eat, spending a bunch of time
there, and then paying a hefty bill, you can just eat on the road or, better
yet, stop at a nice park and stretch for a bit. Plus, you’ll save a lot of money
and a fair amount of time this way.
71. Go through your
cell phone bill, look for services you don’t use, and ditch them.
Sit down and
go through each item on your bill and see if there’s anything there that you
don’t use, like a surfeit of text messages or web access or something to that
effect. Then call your cell phone company and ask to have those services
eliminated. Boom, you’re saving money.
72. Consolidate your student loans.
Interest
rates are quite low right now, so it might be worthwhile to consolidate your
student loans into one low-rate package. Look into the various student loan
consolidation packages – even a 1% reduction on a $10,000 loan saves you $100 a
year – and your loan is probably bigger than that (and the rate cut you could
get is probably bigger).
73. When buying a
car, go for late model used.
These are
typically cars coming straight off of leases, meaning they were cared for by
reliable owners. My truck was purchased with this criteria and has lasted me
several years already with only one significant issue – and I saved a ton of
money on the purchase price over buying new. Only now is it beginning to show
significant signs of aging – and with the money I saved on that purchase, I was
able to get out of debt that much quicker.
74. Hit the library – hard.
Don’t look at
a library as just a place to get old books. Look at it as a free place to do
all sorts of things. I’ve used it to learn a foreign language, meet people, use
the Internet anonymously, check out movies and CDs, grab local free newspapers,
and keep up on community events. Best of all, it doesn’t cost a dime.
75.
Use a simple razor to shave.
I’ve been a
big advocate of the basic safety razor for a long time, but that’s just one
piece of the puzzle. For “normal” shaves, I just shave in the shower and dry
off the blade afterwards, using just soap for lather – incredibly cheap, since
I only swap blades once every few weeks. The real moral of the story? Use a simple
razor – not an expensive electric one that stops working in three years – and
shave your face when it’s wet. You can get a very good shave with some practice
and save a lot of money over the long haul.
76. Find daily
inspiration for making intelligent moves.
I’m usually
inspired by my children. Perhaps you’re inspired to make changes by your spouse
– or even by someone in the community you respect. Maybe it’s just a personal
goal, like an early retirement. Find something that makes you want
to make positive changes, then use that person or thing as a constant reminder.
Keep a picture of it in your wallet, in your vehicle, and on your bathroom
mirror. Keep it in your mind as much as you possibly can.
77. Find out about all of the benefits of
your job.
Most people
aren’t even aware of all of the benefits available to them. Spend some time
with an HR person finding out about all
the benefits of your job – you might be surprised at what you might find. I
found free tickets to sporting events, free personal improvement opportunities,
and an optional employee match on some retirement funds that maximized the
money I was socking away. This not only cut down on my own spending on things
like sporting and community events and educational classes, but also improved
my retirement plan.
78. Make your own
items instead of buying them.
I like to
make my own laundry detergent and my own Goo-Gone, for starters. I also like
making Glade, Windex, and Soft Scrub. In both cases, it’s way cheaper than
buying the commercial version. Hunt around for recipes – it’s amazing how many
things you can make at home in just a few minutes that saves a ton of money
compared to the commercial version.
79. Encourage your
friends to do less expensive activities.
This is often
a tricky thing to do, but there are a number of techniques you can try. My
favorite one is to be the first one to suggest something – that often gives you
the power to steer the group towards things that are cheaper. If you can
convince your friends to go to the park and shoot hoops instead of going
golfing, those green fees are going to stay in your pocket.
80. Don’t speed.
Not only is
it inefficient in terms of gasoline usage, it also can get you pulled over and
cost you a bundle, as I discovered a while back. It’s highly cost-efficient to
just drive the speed limit, keep that gas in the tank, and keep the cops off
your tail.
81. Read more.
Reading is
one of the cheapest – and most beneficial – hobbies around. Most towns have a
library available to the public – just go there and check out some books that
interest you. Then, spend some of your free time in a cozy place in your house,
just reading away. You’ll learn something new, improve your reading ability,
enjoy yourself, and not have to spend a dime. Here are some more techniques for
getting into the reading flow.
82. Buy a smaller house.
I currently
live in a 2,000 square foot house with my wife and two kids. Frankly, it’s just
the right size for us – if anything, it’s a little big. We often find ourselves
in the same room in the house, just surrounded by empty space. You don’t need a
giant place to live. Instead, buy something more modest and you’ll find
yourself with plenty of room – and still plenty of cash in your pocket.
83. Drive a different route to work.
This is an
especially powerful tip if you find yourself “automatically” stopping for
something on the way into work or the way home. Get rid of that constant drain
by selecting a different route that doesn’t go by the temptation, even if the
new route is a bit longer. You’ll still be time ahead (because you’re not
stopping) and you’ll definitely be money ahead.
84. Always ask for fees to be waived.
Any time you
sign up for a service of any kind and there are sign-up fees, ask for them to
be waived. Sometimes (but not always), they will be – and you save money just
by being forthright about not wanting to pay excessive fees. I did this with my
last cell phone sign-up and got part of my fees waived, cutting down
significantly on the bill.
85. Don’t overspend
on hygiene products.
For most
people, inexpensive hygiene products do the trick – for example, I just buy
whichever toothpaste is the cheapest, and the same goes with deodorant and the
like. The key is to use this stuff regularly and consistently – bathe daily,
keep yourself clean, and you’ll be just fine. No need to buy a $40 facial scrub
if you actually scrub your face properly.
86. Eat less meat.
For the
nutritional value, meat is very expensive, especially as compared to vegetables
and fruits. Simply change around your regular meal proportions to include more
fruits and vegetables and less meats – eat a smaller steak and a bigger helping
of green beans, for example. Not only is this a healthier way to eat (saving on
health costs), it’s also less expensive.
87. Use a brutally
effective coupon strategy.
Here’s the
trick: wait a month before using the coupons. Save your coupon flyer out of
your Sunday paper for a month, then bust it out and start cutting anything that
might be of interest. For a bonus kicker, use the coupons in comparison with
your grocery store flyer that week to find out ways you can use a coupon to
reduce the cost of an item already on sale – you can wind up paying pennies for
some things and, on occasion, actually get food for free (I’ve came home with a
ton of free yogurt containers before, for example).
88. Air seals your home.
Most homes
have some air leaks that make the job of keeping it cool in summer and warm in
winter that much harder – and that much more costly for you. Spend an afternoon
air sealing your home – the DoE has a great guide on basic airsealing.
89. Make your own beer or wine.
If you enjoy
an occasional drink, this is a great way to enjoy some of the beverages that
you love at a very cheap price. You can easily make five gallons of beer or
wine at once and it doesn’t take that long, either, once you have the basic
ingredients. Even better, it’s a great activity to do with friends – you buy
the equipment, they bring the juice and you both get a few bottles of delicious
homemade wine out of the deal. A nice entertainment, plus some free beverages –
that’s a great frugal deal.
90. Make sure all
your electrical devices are on a surge protector.
This is
especially true of your entertainment center and your computer equipment. A
power surge can damage these electronics very easily, so spend the money for a basic
surge protector and keep your equipment plugged into such a device.
91. Get on an
automatic debt repayment plan for any student loans you have.
Many student
loans offer a rate reduction if you sign up for their automatic debt repayment
plan. This way, not only do you save a few bucks a month, you don’t have to go
to the effort of actually paying the bill. Our automatic plan saved us about
$60 a year.
92. Cut down on your
vacation spending.
Instead of
going on a big, extravagant trip, pack up the car and see some of America some
years for vacation. One of the best vacations I’ve ever taken was when my son
was an infant – we just packed up the car and drove around Minnesota,
eventually camping for a few days along the north shore of Lake Superior. For a
week long relaxing vacation, it was incredibly cheap and quite memorable, too.
93. Cancel the cable
or satellite channels you don’t watch.
Many people
with cable services often are paying for a premium package but rarely watch
those extra channels. For the longest time, my wife and I were subscribed to
HBO, Starz, and Cinemax, yet we would only tune in once a month at best. We
argued that it was worth it because we could watch a movie or a great drama
whenever we wanted, but it would have been far cheaper just to rent a movie. Get
rid of the excess channels and put that cash back in your pocket.
94. Exercise more.
Go for a walk
or a jog each evening, and practice stretching and some light muscle exercise
at home. These exercises can be done at home for very little, meaning you’ve
got an activity without a lot of cost, and the health benefits are enormous.
Just set aside some time each day to get some exercise, and your body and wallet
will thank you.
95. Utilize online
bill pay with your bank.
This serves
two purposes. First, it keeps you in much closer contact with your money, as
you can keep a very close eye on your balance and be in much less danger of
overdrafting. Second, it saves you money on stamps and paper checks by allowing
you to just fill in an online form, click submit, and have your bill paid. Try
it out – and take advantage of it if you’re not already.
96. Buy staples in bulk.
We buy items
we use a lot of in bulk, particularly items that don’t perish – trash bags,
laundry detergent, diapers, and so on are purchased in the largest amounts
possible. This cuts down on their cost per usage by quite a bit and, over the
long haul, begins to add up to some serious money. Even better, we don’t have
to shop for these items very often, saving time and a fraction of the cost of a
trip to the grocery store.
97. Connect your
entertainment center and/or computer setup to a true smart power strip.
A device like
the SmartStrip LCG4 basically cuts power to all devices on the strip depending
on the status of the first item on the strip. So, if you have your workstation
hooked up to this, every time you power down your workstation, your monitor
powers down, your printer powers down, your scanner powers down, and so on. You
can do the same thing with your entertainment console – when you turn off the
television, the cable/satellite box also goes off, as does the video game
console, the VCR, the DVD player, and so on. This can save you a lot
of electricity and significantly trim your power bill.
98. Don’t beat
yourself up when you make a mistake.
Even if you
make ten good choices, it’s easy to beat yourself up and feel like a failure
over one bad choice. If you make a big mistake and realize it, think
about why you realized it now instead of then, and try to apply that later on.
The memory of that mistake can end up being very valuable, indeed.
99. Always keep looking ahead.
Don’t let the
mistakes of your past drag you down into more mistakes. Look ahead to the
future. The choices you make now won’t affect the past – but they definitely
will affect the future. Think back, and remember how the bad choices you made
earlier are costing you now, and constantly remember to not make those mistakes
now so that they don’t cost your future self.
100. Never give up.
Whenever the
struggle against debt feels like it’s too much, go read a personal finance blog
and remember that there are a lot of people out there fighting the same fight.
Read around through the archives and learn some new things – and perhaps get
inspired to keep going, no matter what.
