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Small sums can mean big profits


Cumulative value of all tips:

yearly savings:  $ 7070                           15 year savings (invested at 8%):  $ 193350  

Weekly Money Saving Tip archive contains all previously published weekly tips, starting with the oldest. Pick the ones that make sense to you, put them into practice - watch your money accumulate. We recommend that you open a separate savings or money market account, to easily keep track of the savings.


Save minimum $360/year on gasoline

yearly savings:  $ 360+                           15 year savings (invested at 8%):   $ 9775+  
We admit - when gasoline was $1 / gallon, this advice sounded pretty silly. Today, when it costs $150 to $300 per month, saving 20% per month means a lot more. So keep your car tires properly inflated, keep engine tuned up, accelerate gently; on the freeway drive around 60 miles per hour (+/- 5 mph), use cruise control if you have it. All together, your milage will improve about 20%. Even if you are at the lower end of the scale, and spend only $150 per month on gasoline, saving 20% gives you $30 per month, or $360 per year.


Save $750/year on coffee

yearly savings:  $ 750                           15 year savings (invested at 8%):   $ 20364  
To fellow coffee drinkers - sorry, Starbucks is out! Now, don't get us wrong, we would never suggest you give up coffee. All we ask is that you make it at home. Making it at home saves about $3 per cup compared to buying at a coffee shop. Multiplied by 250 work days, that's $750 per year. And you can have it exactly the way you like it!


Save $1000/year eating tastier lunch

yearly savings:  $ 1000                           15 year savings (invested at 8%):   $ 27152  
Most people we know leave work every day at lunch to buy a sandwich. If they would instead bring home-made sandwiches to work, not only would they save a bundle, but would enjoy healthier and better tasting food. Savings would run about $5 per day, or about $20 per week (assuming average consumption of 4 sandwiches per week). Given that most of us work 50 weeks per year, total savings come to $1000 per year. For a couple - that's $2000 per year - enough to fully fund your child's Educational IRA. So start enjoying better food today!


Save $1000/year and have more free time

yearly savings:  $ 1000                           15 year savings (invested at 8%):   $ 27152  
This one will upset some people - but only for a week :-)
Cancel your Cable TV for a year. You will be amazed how much more time you will have on your hands - to spend with family, friends, to start a business, or simply to enjoy quiet time. As for the money - with the price of cable running about $80-$90 per month, it's easy to save $1000 per year. One of us has not had cable for 10 years - but does enjoy a week in Hawaii every year - the cost runs just under $1000 per trip.


Save $200 on car insurance

yearly savings:  $100 - $400                        15 year savings (invested at 8%):   $ 4100  
Have you noticed that car insurance rates keep going up, even if you have a perfect driving record. Every two years, shop for car insurance. While we do not advocate going with a no-name company just to get the lowest rate, we do suggest that you call at least 3 major insurance companies and ask them for a quote - you will be surprised at the differences in coverage cost. Our informal research shows savings of about $200 every time we shop (typically every 2 years).


Find $750 in your refrigerator

yearly savings:  $750                               15 year savings (invested at 8%):   $ 20364  
Eat everything in your refrigerator. What does it have to do with money? We tend to waste food. A survey among our friends discovered that the amount of wasted food ranged from $60 to $133 per month. This included expired milk, rotting lettuce, stuff put in the freezer 4 years ago, as well as many "science projects" growing in the cupboard. Even taking the low end of the scale, it's easy to save $750 per year - and we did the survey before the latest price increases.


Save time and money

yearly savings:  $360                               15 year savings (invested at 8%):   $ 9775  
How many magazines do you subscribe to? How many of them do you have time to read? Are they really interesting? Or are you simply renewing subscriptions even though you don't have time or desire to read all this stuff? Having done a little survey among friends, we figured out that by cutting out subsciptions we don't really need, we can save about 360 dollars per year AND lots of time and shelve space.


Save $750 at the grocery store

yearly savings:  $750                               15 year savings (invested at 8%):   $ 20364  
Buy groceries with a shopping list - avoid impulse purchases. Our informal survey puts the savings at an average of $15 per week. Seems like an insignificant number, until you multiply it by 50 trips to a store in a year. It ends up being $750 per year. It's not the one time big items, it's the little things we buy time and time again to cost us a fortune over the years.


Save $1000 paying cash

yearly savings:  $1000                               15 year savings (invested at 8%):   $ 27152  
Pay cash - leave credit cards at home. This sounds silly, but somehow there is a real emotional difference between paying with plastic, and having to part with cold, hard cash. We are all a lot more reluctant to surrender cash.


Save $1000 with cash discounts

yearly savings:  $1000                               15 year savings (invested at 8%):   $ 27152  
Negotiate cash discounts - all stores, professionals, including doctors/dentists ( you can ask for cash discount on the portion not covered by insurance), plumbers, car repair shops - opportunities are endless. Simply ask - you will not always get a discount, but you may be surprised how often you will.


Do not wait - start saving today!

 

 




 
 
 
 
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