Everything you need to know to save money is in this short verse from our ancestors: “Use it up, wear it out, make it do, or do without.”
The three habits which save money are taking care of your things, only buying things you need, and getting those things at the best price. It’s also important to buy good quality, so it lasts longer.
Here are 10 very basic things that you can do to start saving money today. If ten changes seem overwhelming, choose the one that seems the easiest, and the savings you reap will have you back to try the other nine in no time.
Table of Contents
- Plan on Eating at Home More Often
- You Can Learn to Fix Stuff
- Consider Buying “Pre-Owned” Instead of New
- Take Better Care of your Things
- Focus your Wardrobe for Mixing and Matching
- Buy Things on Sale for Huge Savings
- Avoid Subscribing to Stuff (The Black Hole)
- Use Things Up Completely before Tossing them Out
- Always Go Shopping with a List
- Keep the Heat and Air Conditioning Down
- Resources for Further Exploration
Plan on Eating at Home More Often
Every article tells you to eat in more, dine out less…but it’s easier said than done. Why? Because the restaurant folks are pros at defeating your best intentions. You know it’s smarter and cheaper to eat at home. They, on the other hand, know you’re tired and hungry, and they know just what it takes to tempt you through their doors.
It is said that “those who fail to plan, plan to fail,” and that certainly applies here. If you want to outsmart the restaurant pros, you need to plan. Mind you, it doesn’t have to be a perfect plan; you just need to have one (Check out my basic dinner plan here).
Don’t Let Perfect be the Enemy of the Good
A plan makes you feel more committed to eating at home. That’s why it won’t matter if you don’t follow your plan exactly. Just that mere fact that you have a plan will keep you focused on getting home and getting dinner on the table. Planning is also self-perpetuating – Once you make a basic plan, you’ll find yourself thinking ahead and preparing in a way that you never have before.
For example, if you are planning to have beef on Monday, you’re bound to think ahead. You’re more likely to notice that good price on beef roasts in your weekly supermarket flier. Bingo, you can make a simple pot roast dinner. Next, you’ll realize that the leftovers will be perfect for beef stew, and now you have at least two dinners planned.
You Can Learn to Fix Stuff
If you grew up in a home where the “fix” for every broken item was to throw it away and buy another, you may feel that is the only way. You will be very surprised at the things you can repair yourself. Don’t be afraid – The more things you fix, the better you get at it!
I had some advantage, in that I had a father who fixed everything. I learned a bit by watching him, but he never actaully taught me how to do repairs. Mostly, I’ve learned by muddling through; partly because I married a man who also never learned how to fix stuff, and partly because we moved to an area where repairmen are few and far between…and costly.
DIY is Easier than you Think
I’ve come to realize that a lot of things that seem terribly broken are actually really easy to fix. A good example of this occurred one snowy day. I was driving, when there was suddenly a loud scraping sound coming from the front of my car, along with a feeling a resistance. Thinking that I had picked up some ice under the car, I pulled over to check.
It was discouraging to see a big flap of plastic hanging down from underneath the car. I was able to tie it back on, using strips I made from a plastic grocery bag (I carry zip-ties in the car now).
When I got home, I poked around on the internet, and was able to learn what the broken part was, how to replace it, and ordered the parts. Since then, I have repaired and replaced several splash guards on our cars. It’s really a simple thing to do – It snaps on using plastic pegs, like a toy!
Best Sources of Lessons on How to Fix Anything
My top two sources of home repair lessons are YouTube videos and Home Depot’s home repair guidebook. The Home Depot guidebook is essential, because it teaches you that there many household repairs are, indeed, within your reach. I usually use the book to assess what needs to be done, and whether I can do it; and then follow up that learning with targeted YouTube videos.
Even my husband has become better at fixing things. Best of all, over the years, we have learned to work as a team; and even learned when it is better to work alone or split a task. I’m better at figuring out repairs, have good dexterity, and am small enough to get into the many tight spaces encountered when repairing things. My husband has the strength and stamina that is often needed for repair work, and for handling large parts that can get awkward for me. He also sees things that I miss, proving the old saying that two pairs of eyes are better than one.
Some other things we’ve fixed: electric toothbrush, multiple dryer repairs, windshield wipers, car filters, faucets, dishwasher, lamps, and much more!
Consider Buying “Pre-Owned” Instead of New
We often think of cars when we think of buying things used, as opposed to new. If you take a look around you, however, you will be amazed at the variety of things you can buy used. An even bigger surprise is how much of it is in very good condition. The biggest surprise? The price tag! Used goods tend to be much cheaper than buying new.
Used clothes are a fine choice for preschoolers. They grow fast, so new clothing gets expensive. There is a lot of used clothing in their sizes, because much of it is grown out of before it can get worn out. I still buy a lot of my housewares used. I’d rather have an old, American-made plate than a new one from China.
Yard sales, antique stores, thrift stores, and consignment stores are more popular than ever. There’s no shame in buying used. No one will notice, and you often get better quality and variety when you do so.
Take Better Care of your Things
In our throw-away society, sometimes it seems like there’s no point in maintaining things. Yet, this is one of the most profound ways of saving money.
The most important example of this is maintaining family cars. We went through a really awful period with our cars, which I think plays out in a lot of families. Our kids started driving, two years apart. They were working to pay for college, so we hoped to help them out with cars. Through careful planning and taking good care of our cars, we were able to provide each kid with our old car, and buy a new one.
An Unexpected Pay-Off from Good Car Maintenance
When my husband bought a Honda Civic for his long commute, he kept to the strictest maintenance schedule. If he hadn’t, the miles would’ve destroyed the car before it was paid off.
It met a sad end one winter night, when Hubby bumped a utility pole, which had fallen across the road. It didn’t seem like a bad accident, but it bent the frame just enough to total the car. You’d be surprised how small the payout is on a five year old car with 160k miles on it! Luckily, it was paid off, and we had enough money saved to make up the difference it took to get him into a somewhat better car (we wanted a Subaru, because of our harsh New England weather).
That money was only there, because we hadn’t spent it on expensive car repairs, thanks to my husband’s diligent car maintenance.
Focus your Wardrobe for Mixing and Matching
Since we are bombarded in every season with ads for the latest fashion trends, it’s easy to overdo it on clothes shopping. An article from DePaul University put it well when it said,
Advertising sends the message that in order to be sexy or desirable you must look a certain way… buy certain clothes, makeup and get cosmetic procedures. There is the message that we need ‘more’ to be happier. We need bigger houses, nicer cars, more gadgets. But buying into this messaging can easily lead to excessive credit card debt.”
DePaul University Spokesman
Random Shopping Costs More
If your approach to clothes shopping is random, you may save some money using a more focused approach. By a certain age, you know what you like. You’re partial to certain colors, styles, fabrics, labels, etc.. You also have certain garments that you wear a lot. You may have even more garments that just sit in your closet!
It’s OK to have fun shopping, but if you keep that shopping focused on what you need, you’ll save money.
Take the time to inventory your wardrobe, summer and winter. That way, you can enjoy shopping, but with a goal – Get the clothes you want and need, good quality, best price.
Stock up on Good Clothing Buys
If you find a good deal on a garment you know you’ll use, buy two…or more! I replaced my jeans, buying four pairs of Gloria Vanderbilts at a great price from BJs, of all places. I bought two pairs initially, and liked them so much, I went back for two more (I really needed new jeans).
Another good tactic is to choose a color pallet, so you can mix and match your clothes. That way, you can have more outfits with fewer garments. I’ve been doing this for so long, that every time I buy something new, it creates a dozen new outfits.
Buy Things on Sale for Huge Savings
It pains me to pay full price for anything. Sale prices will keep money in your pocket with every purchase.
As long as your favorite kind of clothing is not whatever is the trend-of-the-month, you never need to pay full price for clothes. Unfortunately, there are a lot of clothing sale hounds out there; so whenever there is going to be a good sale on clothing, be sure to hit it early. You’d be surprised how many people like the same clothes as you do.
Once you’re at the store, ready to shop for that sale item you saw in the ads, shop carefully. Have a copy/photo of the ad with you, so you are sure that you are taking the right product up to the register. Sadly, there are unscrupulous dealers who will play “Bait and Switch” with you.
What is “Bait & Switch?”
Bait and Switch is an unethical business practice in which the store advertises a product at a low price; but then they set up the display with only a few units of the sale item, surrounded by something similar, but more expensive. Many people will grab the alternate product, thinking it’s the sale item, and never realize that they’ve been swindled.
Did you know that there are predictable times of the year when the things you buy always go on sale? Having a mental calendar of this can add up to big savings for your household. With the help of Forbes magazine, I created the infographic, below, which indicates a sampling of these.
Avoid Subscribing to Stuff (The Black Hole)
Not that long ago, people only subscribed to print media. It’s funny how most of print media is gone, but subscriptions are bigger than ever, mainly in the form of “premium content.” We sign up for games, apps, and every kind of online media imaginable.
It’s easy to let all those subscriptions get away from you, creating a drain on your bank account. Once they have your credit card number, they will tag you every month or year, until you reach out to them and tell them to stop.
“Preferred Subscriber” – It’s not an honor
Print media does the same thing. Once you sign up, they consider you a “preferred suscriber:” no need to worry that there will be a lapse in your subscription, they’ll take good care of your money…I mean you.
For that reason, I rarely subscribe to anything that won’t take a check. That way, I have to renew my subscription every year. I like to switch to different magazines every few years. Plus, they have a nasty habit of raising the price, sometimes quite alarmingly, once that initial “new subscribers’ special” runs out.
The other good thing about letting your subscriptions lapse is that they often will pursue you with a fantastic “we miss you (and your $$$)” price.
Use Things Up Completely before Tossing them Out
It may seem like a small thing, that little bit of toothpaste left in the tube; but if you multiply that by all the little bits at the bottom of everything you buy, it really adds up. Everything you buy is worth more when you use it up.
Teach your family to use everything up, too. By raising your children this way, they will save money the same way when they grow up.
Here are some of my most successful tips for getting the most out of your investments:
- Toothpaste: press the tube against the edge of the sink, from the bottom up.
- Liquid detergent: add some warm water and agitate gently (so it doesn’t foam).
- Lotion and other thick liquids: turn the bottle upside down and leave it that way overnight.
- Canned tomatoes: “shoosh” out the can with a bit of water.
Always Go Shopping with a List
Something as simple as always having a list with you whenever you enter a store can save you an amazing amount of money. Even if you don’t need it to remember what you plan to buy, it will help prevent impulse buying.
A list keeps you focused on being in the store to get what you need, as opposed to what you want. Besides, a little help remembering isn’t a bad thing – It helps cut down on getting distracted and wandering around, saving you time, as well.
Keep the Heat and Air Conditioning Down
According to Thomas Lawrence, Director of the American Society of Heating, Refrigerating, and Air-Conditioning Engineers,
…studies have shown that for every 1-degree change in a thermostat setting, there is roughly a 3% increase in energy savings…”
Thomas Lawrence
Turning your thermostat down can be good for your health, as well as your pocketbook. Overheated environments can dry out your eyes, nose, and sinuses, making you feel miserable. Plus, when you’re dried out, you tend to touch your eyes and nose more, which exposes you to more germs.
Settings that Save Money
If you are not in the habit of turning down your thermostat, start by turning it down overnight. If you can get it down near sixty degrees (F), you will find your heating costs are lower. That is also a good temperature for when nobody is home.
During waking hours, every degree below 70 will save you more money. I’ve seen a lot of articles with strict rules about this; but I have found that my kids concentrate better on their homework, if they’re not freezing. I have little sympathy, however, for anyone who’s going around the house in bare feet and skimpy clothes in the winter.
Another point about kids is that you may need to find a way to lock down your thermostat(s). They often do not understand why they are not supposed to adjust the heat; and if they mutiny, it can be a very difficult thing to police.
The graph below illustrates how you can reap the savings of using less heating/cooling:
