12 Easy Ways to Save Money

These 12 tips to save money — relatively painlessly — come from a news release published today by Bills.com.

1.    Use cash instead of credit. People spend more when using credit than when they use cash. Tracking expenses in detail also helps; learn to develop and use a simple budget.

2.    Keep the change. After paying in cash, sock away the change. Then cash in the full jar and deposit the amount in savings. Or postpone a splurge until savings will cover it.

3.    Cut prescription costs. Ask your doctor if a less expensive, generic medication will meet your needs. Check with a pharmacist about other discount options for which you might qualify, from AAA programs to $4 prescription promotions to state-sponsored discounts.

4.    Buy store-brands. A recent exercise by a Consumer Reports writer found that purchasing store brands instead of brand names saved almost 50 percent. It also saved more money – and time – than savvy coupon-clipping.

5.    Skip the shopping cart. People buy 30 percent more if they use a large shopping cart. Leave the kids at home, too, if possible. Shoppers who have children with them buy 40 percent more than those who do not.

6.    Unplug unused appliances. Today, many electronics use power even when turned off. Connect the TV or computer to a power strip and turn off the electricity when not in use. Unplug appliances such as a toaster, coffee maker or spare refrigerator when not in use.

7.    Chill hot water heating costs. Water heating accounts for 12 percent of home utility costs. Wrap the water heater in an insulating blanket (about $20) and lower its thermostat setting to 120 degrees from the typical 140 degrees Fahrenheit. For every 10 degrees the temperature is lowered, energy costs can drop 5 percent, or approximately $5 per month.

8.    BYOB. Brew coffee at home and bring it to work in a reusable cup. Those who prefer strong coffee can invest in a $50 espresso maker to brew up lasting savings. Or buy soda pop at the grocery store or warehouse club for 20 cents a can instead of from a vending machine for a dollar or more.

9.    Review bills for errors. Instead of writing checks on autopilot, carefully review credit card, utility and other bills to be sure charges are accurate. If you suspect a problem, contact the provider. Be especially wary of ongoing charges that might have been incorrect from the beginning.

10.    Keep pets small. Love has no price, but when choosing a new dog, opt for the smaller canine. Its annual upkeep costs will average $700 less per year. Or choose a cat for another $60 in savings.

11.    Eliminate catalogs. We will not covet what we do not see. Free services such as catalogchoice.com can help eliminate junk mail.

12.    Wait before buying. For any impulse buy, wait 48 hours. If you still want the item and can afford it, return to buy it. Many purchases lose their appeal after even a short cooling-off period.

Cheap again: We’ve cut costs at our home with almost all of these; not so much #4 (I can’t resist clipping coupons, but I buy store brands too) or #7 (with our hot water heater, lowering the thermostat means we swiftly run out of warm-enough water, so I take fast showers instead; an insulating blanket won’t fit in our tight water-heater space).

Do you use these methods? Or have other great tips to share?

{ 3 comments… read them below or add one }

Karen Peissinger-Venahus May 13, 2009 at 11:04 am

Re: #1 and #12 – I accidentally shredded my credit card in early Jan. At first I was horrified and freaked-out that I would meet some dire circumstance where only a credit card would do. Since then, nothing of the sort has happened. As a matter of fact, it has curbed my impulse buying tremendously since the only other plastic I have is our debit card and use of that gives one pause for second (and third, etc.) thoughts.

Re: #3 and #4 – I signed up for the Walgreens Prescription Savings Club. They offer over 400 generics for $12 for a 90-day supply. I’m trying out a new med dosage so my doctor only authorized a 30-day supply, but it only cost $9.99 because I’m a club member. Eventually I will be able to take advantage of the 90-day for $12 deal. Also, they provide a 10% rebate on Walgreens-brand products, including the over-the-counter allergy med I use and other medicine cabinet items. It cost me $20 to join for a year and that fee was been recouped in two months. The only drawback is all 10% rebate purchases must be made at the pharmacy counter, which sometimes has a line. But, I’m saving money so that’s fine by me.

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Rob May 13, 2009 at 7:36 pm

Another trick when grocery shopping – carry your own reusable shopping bags- I find that I am lest tempted to make those extra purchases when I remember that I have my own shopping bags and there may be no room for extras.

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Lisa May 15, 2009 at 7:28 am

#10 isn’t going to work for me lol. I love big dogs. I currently have a Great Pyrenees and have fallen head over heels for the breed. So it’s Pyrenees and mutts for me. (My Pyrenees is a rescued dog)

But they are good tips other than that one. ;)

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