Ten Money Saving Ideas

With our declining economy and weakening dollar here in the United States, it is going to be time for us to return to some old fashioned money saving tactics. The price of gasoline, the price of food, all contributing to a much higher cost of living overall, and driving up almost every market we work and interact in. In my mind, you can sum up the old fashioned money saving techniques in one short phrase – “delayed gratification”. ARGGGGHHH!!! EEEWWWWWW!!! Yucky. Nobody wants to do that. We all want to find some magic bullet to save us, while we keep all our vices and entertainment. Well I want to submit to you today, ten old fashioned, smart, family oriented, money saving ideas that can produce massive benefits to you down the road:

  1. Can the junk food.
    That’s right, I said it. One place you can really save on your grocery bill is to cut out all the snacks. Cookies, ice cream, chips, cokes, candy, etc. are completely unnecessary, and are very expensive. I am a sucker for chips and cokes, but we rarely ever buy them anymore. Now don’t get me wrong here, you ought to have a treat every once in while, but certainly not everyday, maybe not even once a week. The point is, cutting this junk food out, at least for the most part cutting it out, will save you an extreme amount of money each month.
  2. Stop Eating Out.
    Again, this is one that nobody wants to do. But just look at and total up the money you spent eating out last month. How much did you spend? $100, $200, $500, $1,000? What could you do with that extra money? Eating in is much healthier, and we have found through the grill and trying some recipes that a home cooked meal tends to taste as good or better than eating out. Again, I am not saying never eat out, but make it a once or twice a week thing, not everyday.
  3. Don’t go shopping.
    Most people out there can’t go shopping without buying something. If you are one of those types that likes to go shopping but hates spending money, then go ahead. But most people just need to avoid the malls, outlet stores, etc, and stick to basic needs only. Ouch, did he really say stop going shopping? Yes, I did.
  4. Cut out all the ridiculous entertainment.
    You don’t need to go out to a movie every week. You don’t even need to rent one every week. You don’t need to golf every week. You don’t need to go to a water park every week. Focus on small dollar entertainment, like going for a walk, doing puzzles, watching videos on youtube, and other free or very low cost types of entertainment.
  5. Watch those miles.
    Plan your trips. If you plan the trips you make everyday, you will not make mistakes that will cost you additional miles on your car. Try to do banking and other business over the phone, mail, and internet wherever possible. If you can, get a job that allows you to work at home most days, using your computer and phone. There are many more out there than you think.
  6. Sell that ridiculously high payment car.
    Don’t every make payments on a car. Yes, I said it, don’t ever make payments on a car. Always buy a car for cash, and drive the wheels off of it. Stick with 5+ year old cars, that have already lost most of their value, and drive them to death. You will save so much money.
  7. Go down to one car to a couple.
    My wife and I only have one car. That means only one gas tank, only one insurance bill, only one yearly tax, only yearly registration, only one yearly inspection. Start to make sense? Cars are very, very expensive. Do without, wherever possible.
  8. Switch electric providers.
    I went with a seemingly cheap electric provider, but over the last year and a half, they have jacked my rate up about 30%. What do you do? Well, in deregulated areas, you go to the competition. That’s what I will be doing shortly.
  9. Keep the AC on 80, the heat on 70, and don’t water the grass much.
    Trust me, heating and air conditioning are the most damaging electrical costs that you have. Run fans during the summer, get a space heater for your room during the winter. With rising energy costs, you will definitely see the difference.
  10. Make a savings goal, and keep yourself accountable.
    Come up with a realistic number of dollars you can save every month (using the techniques above and anything else you can think of) and then have your spouse or best friend hold you accountable to it. Peer accountability is a fantastic motivation to keep to your goals. I have given you some simple, solid tips for saving money, but if you don’t do them, you won’t get anywhere. So get with a friend have them ask you once a week about how it is going. You will find you will do a lot better this way.

So there you have, the in your face, this is the real way to save money techniques. Nothing fancy, just solid advice to help you keep more of your hard earned money. ‘Til next time…

22 thoughts on “Ten Money Saving Ideas

  1. The economy is actually not declining. The economy continues to grow; however, one would not know this by listening to the media. The biggest reason that the US is not growing as fast as it was is due to the opinion of media anchors who do not even know what they are talking about.

  2. All these ten steps every body knows. I expect majority are following them to the extent possible.
    But as James said, it is correct. There will always up and down . We can’t even blame completely media anchors too.

  3. You really hit it, when you wrote about “delayed gratification.”
    That is the big problem so many of us have – including my husband.
    It has taken him many years to learn how to curb his impulsive spending …
    But it can be done, because if he can do it, ANYBODY can do it!
    Terrific list, by the way!

  4. Well James said that the economy is not declining but in fact it has and the world is in financial crisis, people going crazy trying to make ends meat, tightening belts etc, I am at that point where I just don’t want to any more but what can you do one has to just try and keep their heads above water.

  5. As the credit crunch is starting to get worse those tips are sure handy and will in the long term help save even if its just a little until things get better, even though one should just stop living but rather be more careful.

  6. I think since the economy it’s like this it is very bad for the poor because they can’t afford to buy the basic need like bread, maize meal and milk. The transport to go to work and schools it’s so expensive for every one. The way to save is to buy basic needs at home and stay away from debts .

  7. Well after reading the above comment, there has been a huge change in the economy, the credit crunch has arrived and its hurting a lot of people. The property market has been hit quiet hard, with people having to sell there properties because they just pay the mortgage/bonds

  8. I’d argue that being aware of where you spend your money is the 1st step in cutting back.

    That said, I strongly second the idea of cutting out junk food.
    Once I started keeping track of my money, I realized I was spending an outrageous amount (something like 20% of my total amount spent on food) buying ice cream – both because I was buying a lot and because it’s so much more expensive than other food.

    Now, I like ice cream (obviously), but 20% of my food budget!!?!?!!

    I don’t think so.

    • Angel:

      Start with the ones listed here, let me know how it goes, and then ask me about more things you can do.

  9. I agree that the bad economy has changed the way we buy stuffs,but I can not agree with you completely,you not just ask people to SAVE money,you are asking people not to use money.

  10. Those are great tips on saving money. I can add one:

    Unplug those appliances! If you keep your toaster, blender, printer, etc plugged in, they drain electricity all day every day. Go Green! If you unplug the appliances you rarely use, you are saving electricity, saving money every month, and saving the earth… all in just a very slight inconvenience.

  11. Hi Jeffry, Thanks for Your Post….!That was really Impressive Saving List from You…..! But what does will any one have a single Gas tank???
    And i agree with James that Economy never declines rather grows up….!
    Thanks for your Informative Post…Lets hope that Every one would follow to save Money….!

  12. Agree with James, that being said most people need to trim their budgets. The new car thing is most people’s biggest problem. It’s ridiculous and there is no legitimate argument for buying a new car, and there are so many for not doing it. Pay cash for everything, not just a car. Get rid of the credit cards. Really, just be an adult and take care of business by delaying gratification and sacrificing to win.

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