Wednesday, September 27, 2006

25 different ways to save money

Dawn at Frugal For Life asks "What are 25 different ways you save money?"

Here's mine:

  1. I don't wear makeup.
  2. I use shampoo and conditioner, and it's Suave on sale. No hairspray, gels, shelacs, etc.
  3. I use my library for books and movies.
  4. Cooking meals at home instead of eating out.
  5. As often as possible I use compact fluorescent light bulbs.
  6. I stay out of thrift stores. I found that I was coming home with tons of crap because it was "cheap", but each "cheap" item adds up monetarily and in clutter.
  7. I shop at thrift stores, but usually take at least 5 things out of my cart before I pay.
  8. I don't buy from the vending machine at work. Even ignoring the issues with sugar and fats, you could buy 5 times as much of the same product at the grocery store.
  9. I use the internet to review an item's quality and price before I make a purchase.
  10. I cut my dryer sheets into quarters. The box lasts four times as long and a quarter works just fine.
  11. I try not to wash dishes under running water. Filling the sink saves water and soap. (Although I do get lazy and cheat).
  12. I don't go to movies unless it's something really worth watching on the big screen. The last one I saw in a theater was King Kong, and yes, it was worth it. Before that, it was the Incredible Hulk, and no, it wasn't.
  13. I pay myself first every month. 10% of my income goes straight into savings, and it stays there except for emergencies.
  14. I cancelled my vision insurance through work. I can get an eye exam for the co-pay at Kaiser, and take my 'script to a one hour lens place and still come out ahead. When I added up my premium, coverage limits, and co-pays, it just wasn't worth keeping it.
  15. My husband gets all of his work shirts for free from vendors. Considering how quickly they get ripped or dirty, it's worth it.
  16. I'm not a fashionista. Worrying too much about what your clothes look like is expensive. I'm clean and appropriate, and that's all that matters.
  17. Eat leftovers for lunch.
  18. I buy yeast for breads at Vitamin Cottage where it's 60 cents a pound versus those small packets at the regular store, where it runs $3 for 6 teaspoons.
  19. I take light rail to school. It's an unlimited pass, mandatory with my student fees, and parking on campus is $3.50 and up.
  20. I mostly use vinegar and water for cleaning. I mix in eucalyptis oil, but the vinegar smell only lasts a minute and there's no chemicals to give me a headache. I use an old product spray bottle that was completely cleaned out.
  21. If something breaks, I get opinions from friends and family before shelling out cash for repairs. Sometimes someone else knows how to fix it. (usually my dad)
  22. I track every expense on Quicken. If I don't, I lose track and end of overdrafting, which comes off our credit card. The interest rate is horrible, and every time it costs $10, regardless of how much or little we were short.
  23. I ignore cosmetic damage to my car as long as possible.
  24. I compost. It cuts down on trash and in a few months, I'll have good rich material for my garden beds.
  25. We bought a swamp cooler this summer instead of air conditioning. Installation for a regular whole house unit installed on the roof would have been in excess of $3,000. Instead we bought a $400 portable unit like people use in workshops. It cools up to 1,000 square feet, and our house is less than 800 square feet. In the winter we'll store it in the basement. I know you people back east can't imagine actually wanting humidity, but out here it's a blessing!

16 comments:

~Dawn said...

I get the suave stuff also. I'm the same way about checking with people if something breaks or needs an upgrade, this sort of advice is invaluable.

Thanks for the head's up on the vision, I will look into that for my work as well!

3 Things About Money said...

Wow - thanks for that yeast tip -- it will save me some money. I am really enjoying your blog - thanks.

mbhunter said...

This is frugality on steroids. Puts me to shame. Great list!

We bake a lot of bread for our daughter (she has a lot of allergies) so the bulk yeast was one that we did also.

Cindy M said...

Yes, yes, yes. I cancelled the vision plan a long time ago, use the library for movies (reserve those newer movies and books, your name will come up quicker than you think, and King Kong at home was fine); yes to Suave products with coupons, and I cut my own hair now, LOVE doing that. I must start baking my own bread for sure, thanks for the yeast hint.

Lisa said...

I think I will attempt to try to come up with 25 ways to save money. Right off, I think I could do maybe 10. Maybe. But I am going to give it a go!

YOu did awesome!!

tom said...

Concerning item #11. I fill my sink 1/3 of the way with water and dish soap, start with glassware and rinse off the clean items under hot running water that empties into the sink adding to the dish water. That way the sink fills slowly and later on the sink is almost full and I can wash the larger dirty items. That saves on water and "recycles" the rinse water back into the wash water.

Anonymous said...

An excellent (and frugal) spray cleaner AND surface disinfectant is 1 part water, 1 part vinegar, 1 part rubbing alcohol, and 1 part ammonia. Buy a 48 oz spray bottle from Dollar General and you simply fill it up with 1 cup (12 oz) of each liquid and away you go!

A.G.T.

Melissa said...

I don't know if bread flour is uber expensive where I live, but I tried baking my own bread (it turned out delish) but it just didn't end up being cheaper than buying store bought and I ended up with fewer slices, so more cost per slice. Would a bulk place like Costco have cheaper flour that would make baking my own bread truly worth it?

Anonymous said...

Dryer sheets are filled with neurotoxins. I just add vinegar to the bleach cup in the center of the washer. It helps reduce static cling.

mr.dalsgaard said...

I wish I could compost like you. It seems such a waste to burn all that green goodness.

Anonymous said...

I disagree with ignoring cosmetic damage on the car. It needs to be looked at by a mechanic. I had a minor accident in which I was rear-ended. I ignored the dent because I drive an older car. A year later I almost had to replace the car because one small piece of metal had buckled and rusted so badly that my wheel well was broken through. If I didn't "know a guy" the car would not have been worth fixing after ignoring the problem. AT LEAST have a professional tell you when you can ignore the damage.

Anonymous said...

I was wondering if you could correct the link back to http://frugalforlife.com/25-ways-i-save-money/ as that would be very helpful. Thanks!

~Dawn

Ashley said...

How I've reduced my monthly bills

Cable
$5.00 off Your Cable Comcast Bill w/ Survey
http://www.fatwallet.com/t/18/813392/

Another way to reduce your monthly bill is threaten to cancel! My mom has done this for years to save and I tried it during a less than lucrative month. My bill was reduced from $108.00 a month to $70.00! The cable company will usually sign you up for a time limited special, mine was supposed to last only 3 months but now more than 5 months later they haven't began charging me my normal amount!

Insurance
Raise your insurance deductible. The highest mine would accept was $1100 which brought my monthly bill from $220.00 to $165.00.

Electricity
Turn off your heat! I know, I know, it's cold right!? But just turning off (or down if you're really that much of a wimp) your heat you can safe up to $50 a month (depending on the size of your house)!

Phone Bill
I'm sorry but who uses a home phone these days? What is the point of having a landline when you're always on your cell phone!? Odds are the only people you talk to on your landline are your parents and maybe a few telemarketers during dinnertime. Talk to your friends and family, figure out a plan that works for all of you and allows you to talk for free, and get the minimum amount of minutes you might use otherwise. I'd suggest T-mobile My Faves Plan or Alltel's My Circle Plan. Both allow you to pick specific numbers you have unlimited access to as well as low cost minute plans for any other callers. Remember, cut out the land line and carefully choose your cell phone plan (those contracts lock you into plans for a minimum of 2 years).

Credit Cards
I know a couple well educated people in high paying jobs that up until recently had no idea having good credit was mainly a product of using and paying off credit cards. They assumed they had good credit because they paid for everything in cash. That was up until they tried to buy a house a realized they had NO credit. This sounds crazy I'll admit, but there are TONS of people who don't think it's important to use credit. They are wrong. In order to build a good credit history and to raise your credit score you must use credit. Store credit cards, bank credit cards, auto loans, home loans, school loans... Just remember to be careful in doing so.

Building your credit history:

Sign up for a credit card with the lowest interest rate you can find.

USE IT! But don't max it out. The best reflection of a responsible credit user is one who keeps their balance below 50% of their available credit. If you can, the best of the best pay off their credit card every month.

Can't get a card? Pay for one. Most banks will allow you to get a credit card for a small amount, say $500, if you're willing to put down a $200 deposit. Spend money to spend more money you say? Yes I know, it sounds ridiculous. But if you can prove that you are responsible by paying off your card on a regular basis you will receive your $200 back in 6 months to a year. And you will have developed a line of credit!

Watch out for gimmicks:
Having worked for a huge retail company (no names named) I'll tell you to be verrrry careful before signing up for any store credit cards. While they are another great way to build your credit, and are normally easy to obtain, there's some pretty crappy fine print that will have you paying huge fees.

Always pay on time! I cannot stress this enough. Having grown up in a house where bills were rarely if ever paid on time, I can guarentee that by choosing to pay your credit card bill to avoid a late fee (and a ding on your credit score) you are better off. Even if that means letting your electricty bill go unpaid one month, or sending in your cable bill late. These services will not be canceled! Especially if you call them and explain your situation, they will almost always make exceptions or set up special arrangements to help you get by a little easier.
The FICO (credit) score is made up of a couple different things. We've already talked about paying on time (35%), different types of credit such as store credit and bank credit (10%), and how much debt you're in (30%)... but what you may not realize is that everytime you apply for a loan or a credit card, or even pull up your credit report for a quick check, you are damaging your credit (10%). Be sure that you are aware of the credit you have by obtaining a certified credit report at least once a year. Don't be pushed into applying for anything you feel unsure of. Know your terms and the consequences of breaking those terms. Now you're on the way to a great credit history. The only factor you can't control is the length of you credit history (15%). The longer you have credit and diligently use it, the higher your score will get.

Hopefully these tips will help.

Anonymous said...

be careful about leaving the cosmetic damage on your car. My car mechanically works fine, but the paint is fading (apparently a common defect in my type of car)I didnt really take much notice of it. I had a minor accident which wasnt my fault. I took my car to my insurance assessment centre and they said they were going to cancel my insurance unless I repainted the faded paint, as they said if someone keyed my car on the door, they would need to repaint the entire car to match. Long story short I can no longer get comprehensive insurance becaue my old insurance kicked me out.

Anonymous said...

If it's warm enough to need air conditioning why not hang your washing up to dry outside

Anonymous said...

Dryer sheets are a waste of money, cut up or whole They don't get your wash cleaner.