- Personal Finance
20 Terrific Ways To Save Money On A Limited Income
Use These 20 Money Saving Tips
Many of us have limited incomes, however, we can still save money. Using these 20 ways to save money on a limited income works for anyone. College students, baby boomers, unemployed and hard-working teens can begin right now to put these 20 ways into action.
Start with just 2 or 3 money saving tips, adding on a new tip a little at a time. If you're the aggressive type then go for it and incorporate all 20.
- Reduce or stop the "Starbucks" urge. Make your coffee at home and use a thermos.
- Fix that dripping faucet to save water. According to the U.S. Geological Survey, 60 drips a minute will waste about 6,428 gallons of water per year.
- Brown bag your lunch instead of going out to eat at work.
- Barter. Save your cash and exchange services or items instead. You might just like the idea of giving a "swapping party".
- Use CFL or Led light bulbs. Initially, it may cost a few cents more than regular bulbs, but over a period of time you will save money and you will be saving energy.
Surprising, Clever Ways to Increase Your Savings
- Sell your books on amazon.com or cash4books.net. Make sure you include shipping charges as well as packaging when deciding how much to charge.
- Check out your local library. You can find dvds to your liking as well as books. It's all free.
- Yard Sales offer all kinds of treasures, clothes and items galore. Always bargain. Never pay full price.
- Save water if you have an older toilet by placing a plastic bottle full of water along with a few pebbles into your tank.
- To get the "good stuff" when shopping at a thrift store, go to one in a wealthier area. Donations are usually local. Most donations come in over the weekend so it makes smart sense to shop early in the week.
- Save on printer ink by using Century Gothic Font. You will be using approximately one third less than industry standard aerial.
- Take a shorter shower. You not only save money, you will save your skin from drying out.
- Unplug the computer and appliances when not in use.
- Use those coupons. Keep them in a special envelope and take them with you whenever you go out. Maybe you are just going out to fill up the tank with gas, but you may decide to make a quick run into the supermarket for that "one" item and find that you have the very coupon you need. Check out this site www.mygrocerydeals for comparing prices in supermarkets. This a free site, but you must register to use it.
- Join Freecycle in your area. It may be listed as "myfreecycle.com". A wonderful resource for finding all kinds of things you need, such as tv's, bedding, clothing, books, bikes etc. You may also donate items. A free and useful website that I have used for years.
- Enjoy your favorite concert, play or musical by becoming a volunteer as an usher.
- Boil water in the microwave instead of using an electric stove. You can save up to 60% on energy and that adds up.
- To save on gift-giving, make your gift one of service. For a couple with a baby offer to give them a night out by baby sitting. Offer to wash a car or organize a closet. Perhaps a back or foot massage would be welcomed. During holidays, you might offer to wrap gifts.
- Buy generic brands of items that you use regularly. The ingredients are the same as regular brands and you will save money on the generic.
- Grow your own fruits and vegetables. Plant your garden early enough so that you have plenty of fruits and vegetables to can for the winter.
You'll be surprised how these money saving tips will add up. Begin now and make it a habit. Start using these 20 terrific ways to save money even if your income is not limited.
"A bank is a place that will lend you money if you can prove that you don't need it." - Bob Hope
A Fun Way To Get Free Clothing And Other Items
Here is a fun way to get a supply of clothing, household items, jewelry and even kids toys. It's called a Swapping Party (recycling) and all who participate have a wonderful time.
The "3 Day Rule" For Compulsive Spending
It goes like this. I see something I just must have while out shopping. In fact, I have an entire wardrobe not being worn of cute things I just had to have. To stop this wasteful habit of throwing money away on items I never use, I began living this "3-day rule."
- When I see something I can't possibly live without I wait three days.
- On the third day I visit the item I wanted so badly and if I still feel the same and want it desperately I go ahead and make the purchase.
About 75% of the time I end up deciding the item isn't really worth the money or I didn't want it that bad.
Then, the money that would have been spent, goes into my savings instead.
n the words of the great Will Rogers, "Too many people spend money they earned..to buy things they don’t want..to impress people that they don’t like."
Conclusion - Learn To Save Money Early In Life
It took a recession to teach me these 20 ways to save money when living on a low income. Not too long ago I would have scoffed at the idea of saving coupons, shopping for sales or ever purchasing used clothing. The idea of yours truly shopping at discount stores, seeking out yard sales to find what I need for the house, or looking for ways to save money, just didn't fit in my world.
Then life "bit me in the butt" as the economy took a turn for the worst. My bank account was dwindling, and I found myself floundering for ways to save money living on a lower income.
I used all of the 20 ways to save money listed above. I have to say that today I am actually better off for this experience and a wiser and happier person. I live simply now and find that I am happier and more relaxed than I used to be.
It shouldn't take a recession to teach us simple ways to save money. Learning to be frugal is a habit that even young children can benefit from. We are responsible for our own financial security. The earlier we learn this, the better off we will be.
How often do you use coupons to save?
© 2010 Audrey Hunt