7 Easy Ways to Save a Buck
The concept of saving money is a very interesting one to many people. The reality is we all want to spend $3 instead of $5, right? Today, we're going to talk about seven different things you can do to trim the fat when it comes to excessive spending. Here are a few simple habits that can help you save a pretty penny over the course of a year.
1. Get your crockpot out of the cabinet.
You remember that crockpot grandma got you for your birthday four years ago, right? Of course you do! It's been sitting in your cabinet for years doing little more than collecting dust. I bet you didn't realize how much money that thing could be saving you! At least twice a week, on the way home from the office, you want to stop for a convenient quick meal. You've had a long day, and it feels justified. The only problem is that the meal costs much more than a home-cooked meal would. Well, you can use your crockpot to prepare your meal in the morning on days you know will be rough. This way, you can skip the fast food and rush home to an already ready home-cooked meal!
2. Get rid of the bank that nickel and dimes you.
Do you pay a maintenance fee for your bank account? If you answered "yes," I've only got one question for you...why? Why would you pay a monthly maintenance fee when there are tons of banks out there that offer checking and savings accounts without them? A great way to go is to look to your local credit union or even switch to an online bank. When comparing your options, also look at the interest you can earn. Currently, I get about 3 percent on checking and about 3.4 percent on savings, but who knows what kind of great deals you can find out there right now.
3. Sign up for customer rewards programs.
I'm guilty of this, too. I've had tons of options to sign up for customer rewards programs and I was just too busy. So, I didn't sign up. I actually made this a trend for a while. Then one day, I realized that I was paying for rewards I wasn't getting. The cost of the rewards obviously trickles down to the end consumer. So, if the end consumer doesn't take part, he or she loses money in the process. Since I've signed up for every reward program around me, I've saved at least twenty or thirty bucks a month in rewards.
4. Give yourself a month.
Have you ever heard of the 30-day rule? As a frugal guy, this is one of my favorite rules in spending. If you're about to spend any more than $20 on something that is unnecessary, don't! Instead, put the item down and wait thirty days to buy it. You'll be amazed at how much money you save by not making unnecessary frivolous purchases.
5. Clean your car's air filter.
Did you know that a clean air filter in your car can lead to 7 percent more fuel efficiency? That means at current gas prices, with a clean air filter, you'll save about $100 per every 10,000 miles you drive. With the average person driving around 10,000 miles a year, that's a hundred bucks a year in savings!
6. Freeze your credit cards.
No, I'm not talking about calling your credit card company and asking them to freeze your accounts. I literally mean freeze your credit cards. I know, it seems a bit extreme, but think of it this way. The average credit card comes with a 13 percent or higher interest rate. That's huge! By simply not using credit cards as often, you'll save a ton. So, get a plastic sandwich bag and put your credit cards in it. Now, fill it with water, zip it up and throw it in the freezer. Without easy access to those tempting pieces of plastic, you probably won't use them as much. However, they'll still be around; in an emergency, you can retrieve them from the ice.
7. Take part in a DIY challenge.
Have you ever looked around your house, seen a few items and thought, "I could have made that!" You probably could have. The only thing is, you didn't. Instead you paid for it. From now on, before you buy something you think you can make on your own, give it a shot. I saved a little over a hundred bucks about two weeks ago. I needed a new bird cage for my fiancé's doves. Instead of buying a cage for $200, I made one that was far bigger for less than $80.
There are tons of ways to save money out there. I'd love to hear some of yours. Aside from what I've mentioned here, what do you do to save money on a regular basis? Let me know in the comments below!
Joshua Rodriguez is a personal finance writer with ModestMoney.com.
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