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30 ways to become a proud cheapskate

Updated on June 3, 2011

Cheapskate and proud of it!

This lens is dedicated to all the cheapskates out there. Short of becoming homeless, it's probably the best way one can save money. Here are some tips and also stories that will inspire you to become a PROUD cheapskate.

Maybe this cheapskate will inspire you. - Roy Haynes is one real cheapskate

Roy Haynes splits his 2ply toilet paper into 1 ply of toilet paper. He also collects ketchup and mustard packets and collects them so he saves on condiments. He resells other people's junk and makes $15,000 a year. He reuses paper towels by washing it and letting it out to dry. He says in this video: "and although I reuse paper towels, I do not reuse my toilet paper". Thank goodness Roy Haynes knows his limits.

1. Group your errands

Not only does it save your time, but it saves on gas as well.

2. Have a garage sale

Get rid of things you don't need. No need to live with all that clutter lying around your house that you will never use.

3. Use coupons

Look in your Sunday newspaper to see if there are coupons for your favorite products. You can also try the manufacturer's websites. All professional tightwads seem to use coupons in one way or another.

4. Use promotional codes

Online retailers offer promotional codes to help consumers. I often get a good expedia coupon code before I travel.

5. Purchase in bulk

he more you buy together the cheaper it is. You can also purchase in bulk and store them in small ziploc bags so you can use it as if it were small individual packs.

6. Pay down your credit card

The interest from credit cards can wreak havoc on your finances. Avoid carrying a balance on your credit card.

7. Recycling everything you can

Things like aluminum foil, ziplock bags, wrapping paper from Christmas can be reused. Cans, cardboard, newspapaper, metal can all be recycled.

8. When moving don't buy boxes

Get them from grocery store bins or ask stores for them. Costco is also a great source for boxes.

9. Buy refurbished

Most of the time it's just as good since the company tests it out. Just imagine how much you save when you get a new car versus a used car.

10. Avoid eating out

Don't buy bottled water, get a filter and make your own bottled water. Don't eat out, cook cheap meals yourself.

11. Bicycle/bus/Carpool

Not only will you be saving on gas, but you will get a little exercise as well.

12. Save energy

Turn off appliances, turn off lights when they are not being used.

13. Create your own cleaners

Visit this site for ideas on how to make homemade cleaners

14. Cut your own hair

Have family members cut your hair. No need to spend $12 at Supercuts.

15. Budget

Create a budget so you know how much you are spending each day. Budgeting will help you realize that you shouldn't be spending $5 on Jamba Juice.

16. Use the library

When you need books or want to watch movies, the library is the way to go. Just don't get overdue.

17. Limit cell phone use

Do you go over your allotted minutes? Try to avoid useless calls, or use a friend's cellphone.

18. Do it yourself

There are many things we can easily do ourselves if we just try. Don't be afraid to try it yourself, whether it's fixing the toilet or adding extra hardware on your computer. The internet is a handy tool. There are also tons of workshops in hardware stores such as Lowes and Home Depot.

19. Telecommute

If your work lets you telecommute, take advantage of it. Just don't sleep in all the time.

20. Shop at the 99cent store

If you have never been to a 99cent store, try it out. I am sure you will be surprised with the selection and prices.

21. Buy generic

You will be surprised if you look at what the label says, that some generic things contain the exact same ingredients as the original.

22. Quit smoking

A pack a day costing $5 each can cost you $1825 a year. That's the cost of a nice little vacation wouldn't you say?

23. Cut down on your vacations

Take alternative measures such as going around the US instead of traveling around the world. If you must go on vacation, consider buying it as a package instead of individual items. Don't just use one travel website, shop around at Expedia, Travelocity and others before you buy!

24. Use better driving habits

Don't press the accelarator quickly, avoid stop and go traffic, this will help you cut gasoline costs.

25. Borrow stuff when possible

No need to buy a drill if you are only going to use it one time.

26. Invest in GPS

If you are someone like me who gets lost all the time and goes around in circles, you will save money on car costs on the long run by investing in a GPS.

27. Invest in electric saving appliances

They will save money and you have a chance to be green, which seems to be the trend these days.

28. Look for free stuff

Places like freecycle.com and craigslist.com you can find things that people no longer want.

29. Ask relatives

When you need things like baby clothes, cribs, toys (just don't get those from China), it's best to ask a relative who's kids have outgrown these toys. You will be surprised at how much those relatives want to get rid of the suff as well.

30. Wash your own car or don't wash your car so often

It costs a lot of money to wash a car, you can save by doing it yourself or having your kids do it for you.

A million bucks by the time he's 30

In A Million Bucks by 30 a book written by Alan Corey, he follows some odd saving techniques. Some of them: reusing the same popcorn bag for months to get free refills, using umbrellas from lost and founds, and claiming dropped cellphone calls to get free minutes.

Ultimate Cheapskate book

In The Ultimate Cheapskate's Road Map to True Riches, a cheapskate named Jeff Yeager gives these tips: Eat what's already on the cupboard, watch a DVD from your collection (don't buy a new one), use the bicycle to reach your destination. He recommends doing a fiscal fast where you don't spend anything for some period of time.

Cheapskate poll

Do you consider yourself cheap?

Don't want to be cheap? Consider this:

Scottsdale residents Steve and Annette Economides who fed a family of seven on $350 a month and they paid their house off in 9 years. Can you say that about yourself?

That man is the richest whose pleasures are the cheapest.

- Henry David Thoreau

Are you cheap? Do you have any advice on being cheap?

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    • jimmielanley profile image

      Jimmie Lanley 9 years ago from Memphis, TN, USA

      That video is amazing... in a disgusting way. Frugality as being a good steward is commendable. But being cheap is usually based on greed and/or fear.

    • profile image

      xTekSupp 9 years ago

      Way cool - I cracked up.