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Ten Easy Ways to Save $500 or More!
By JLP | July 7, 2006
[tags]Money Saving Ideas, Budgeting[/tags]
Thanks to reader Stacey for suggesting Ten Easy Ways to Save $500 or More from MS Money. Their ten tips (along with my commentary):
1. Drive less
Makes sense to me. Combining as many errands as possible into one trip can easily cut gas expenses as well as maintenance from wear and tear on your vehicle.
2. Bring your own stimulant
It is nearly always cheaper to make your own coffee and take it with you than it is to buy coffee at Starbucks.
3. Conserve energy
I fall short on this one. We leave too many lights on and the kids are constantly running in and out of the house. Our house is also 40+ years old, which means it is not as energy-efficient as it should be.
4. Dig gardening
There’s no doubt that having a garden can cut food expenses. However, you have to factor in the time necessary to have a garden.
5. Go small or pet-free
The more a dog eats, the more you are going to spend on food. Going with a small dog can cut your pet food expenses in half.
6. Don’t flush money down the commode
We use mid-priced toilet paper. Enough said.
7. Limit media
Cut or eliminate your cable bill. There’s no doubt that cable/satellite service is expensive.
8. Sign up for tax-advantaged plans at work
This is a great way to save on your current tax bill and FUND YOUR FUTURE at the same time. No ifs, ands, or buts! If you have a retirement plan available, get started now! If not, start a Roth IRA.
9. Eat in
Eating out is expensive. Eating at home with a meal plan can save significant money. If you want to eat out, budget for it and stick to your budget.
10. Don’t bank on it
Don’t carry credit card debt. If you have credit card debt, make a plan to get it paid off as quickly as possible.
This isn’t rocket science. If each one of these suggestions saves you $500 per year, you could easily save $5,000 per year. That’s nothing to laugh at.
Topics: Budgeting | 2 Comments »
July 8th, 2006 at 2:27 am
Great tips! Practical and simple. Hey, looks like ya got a nice bump in your feedburner subs! Nice.
July 9th, 2006 at 12:48 am
This is great. I recently was re-evaluating my cable television expenses and will definately be cutting out HBO. I will also try setting up an antenna for HDTV. Thanks for the link to this great article.