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Effective money saving tips| How to save money

Updated on October 13, 2010

This hub covers the topic of effective money saving tips. Electricity, gas and heating bills rise every year and it does not seem, that these prices are going to fall. Lithuania closed its biggest nuclear power station. Russia raised gas prices which includes heating prices as well. Many people lost their jobs and are in despair especially with winter coming. How to survive an economic crisis, when it hits so hard with ever increasing bills? If you think that to save more money is impossible, think twice. I'm not saying that it is easy, but it's doable. You will have to change your lifestyle a bit, but it is worth it. Here are 9 money saving tips, that I tried and checked myself. It really works.

1. Power-plugs

Pull out all power-plugs from sockets for the night. Unplug the power cords of your television set and computer. Maybe you don't know that, but a power-plug that is plugged in the socket still uses small amounts of electricity. I tried that at home. Now, when i go to sleap, I pull out all the plugs (usually I have to pull out at least 7-8 plugs, except refrigerator). In the morning I pull in a specific plug whenever I need it. I couldn't believe it but this simple step helped me to save some money and my electricity bill lowered by 25%.

2. Use CFL bulbs

If you question yourself how to save money, try using compact fluorescent light bulbs. They are more expensive than the standard bulbs, but they are more economic, serve 3 times longer than usual bulbs and save up to 80 % of electric energy. Change all the bulbs at your house and in a while you will see the effect.

3. Turn of the light

Turn of the light that you don't use. It's a simple advice, but many people ignore it. Let's assume that you're working in a kitchen  and then you go to the living room to watch news report or something else. You left the light on in the kitchen. After 15 minutes you come back and think that 15 minutes is nothing. If you estimated how much money 15 minutes on a daily basis consume in a year you would be very much surprised. 

4. Hot cooked food

Wait before cooked food will reach a room temperature and only then put it into refrigerator.       

5. Shopping

Go shopping only once a week and always have a list of what to buy. It works for me. Without the list I would be hopeless. My wife usually makes the list in the evening and I go to the shop next day. IT's a great combination. Men tend to buy less products than women, but they tend to forget what to buy. Stay away from shops as much as possible and you will definately save good amounts of money. For me shopping is not fun. I don't like standing and waiting in the queues. I don't like going to the shop and only then thinking about the items I need. Therefore I usually have a list, which helps me not to drift away.

6. Discounts

Go shopping on discount days, use a discount card and buy in large quantities. I know that people in America are used to do that, but not in Lithuania. I work as a freelancer, therefore I can go shopping on a particular time of the day, when discounts are at the peak. My wife usually finds out about these "great" discount times. She does the job of central intelligence and I am the paratrooper.

7. Market-places

Try to cook yourself and buy food from market-places, where farmers trade. Here, in Lithuania, it's possible to buy food straight from farmers. Food is healthier and cheaper. Try to avoid eating semi-manufactured food. I buy veggies, meat, butter, flower and fruit from farmers for the whole week and make food for 3-4 days. In that way I don't have to go shopping every day. I learnt how to cook and studied different recipies. Cooking at home definately pays off.  

8. TV watching

I think this advice is the most important of all money saving tips. Watch less TV. I'll give you two reasons why.

Firstly, people tend to eat more food watching TV. More snacks, more chips, more pie, more money. If you become busy with something else, you will eat less and stay healthy in mind and in your body.

Secondly, media gives you the idea about what normal life is and what are the standards. Usually those standards match the standards of advertisers that appear on TV. And the advertisers want you to buy and consume . Buy this and buy that and don't forget to buy another this and that. In that way our brains are programmed to buy more and more stuff. But do we really need it? You are so eager to meet those standards that you start buying a new Tv set, laptop, Ipod, Ipad, minilaptop and other toys. Stop and ask yourself - do you really need them? Do you really need one more toy, that will be sucking more electricity. We usually say, that if I don't have more fun with these toys, then life is gonna be boring. Well, I don't agree. 20 years ago, people had so few toys compared to what it is now, yet they seemed happier than we are. If you really want to save money, change your lifestyle.

Once I read a story about one meeting in European parlament or something like that. Don't exactly remember the context, but the main idea is this - one parliamentarian came into the cabinet and took out and old "brick like" mobile phone. Others started to laugh and were wondering, why on earth didn't he buy a new one? The parliamentarian answered that he only used 2 functions: to call and write messages. That was suffiecient to him. 4 weeks ago I went fishing and my mobile phone ended up in water. I didn't buy a new one for 300 $. I came back home and took my old mobile phone that was in my drawer. I am talking about Nokia 6020. It's enough for calling and writing messages.

9. Rechargeable batteries

If you have many electronic devices at home (remote controls, electronic toothbrush, battery operated toys for kids, mp3 player, digital camera, etc), I am sure some of these mechanisms use AA or AAA batteries. You could save a load of money in the long run if you got yourself AA battery charger and 4-8 rechargeable batteries (depending on the amount of the devices). Rechargeable batteries can be charged up to 1000 times. Imagine, how much money you could save in 2-3 years.  

10. Write more hubs

The last but not the least - write more hubs. Im so excited about writing one more hub, that my thoughts about food and heating bills just dissapear. Besides, after a while you may earn some money from google adsense.

If you know more money saving tips, you are welcome to write a commentary.

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    • rolichius profile image

      rolichius 6 years ago from Vilnius

      Thank you for your comment Payday Loans. And yes, you are right about the heating. Actually, here, in Lithuania, people during winter time pay 30% of their wage just to cover the heating cost. In order to cover all costs (electricity, water, gas internet, heating, etc) sometimes you have to give 50-60 % of your wage. So saving on heating is quite a buster. But only one problem - it costs too much to insulate a house, therefore we just wait patiently for spring to come :)

    • rolichius profile image

      rolichius 6 years ago from Vilnius

      Thankx for your comment LillyGrillzit. Hope, it'll help you save some extra bucks.

    • profile image

      Payday Loans 6 years ago

      I'm surprised how much pulling out plugs saved you. You can get extension leads with individual switches to make this easier also.

      Heating is a place where people could save lots of money. Insulate the house properly or just wear a jumper. I don't like the heating on too much anyway so savings come my way.

    • LillyGrillzit profile image

      Lori J Latimer 6 years ago from The River Valley, Arkansas

      I am catching up on reading, this is a frugal Hub. I like it. Thanks for the energy and money saving ideas.

    • rolichius profile image

      rolichius 7 years ago from Vilnius

      Thanx for your comment, nms. I'm glad you liked it.

    • nms profile image

      nms 7 years ago from Cochin

      Superb one. Really you can save few pennies. When many saves few it becomes a lot. Good hub