5 things you can do this week to save money
Sunday, October 19th, 2008
Let’s have a show of hands — Who needs to save money? I think the whole country chimed in. 
I challenged myself tonight to come up with 5 things you can do this week to save money. You’ll be amazed how simple some of the ideas are! Oh, and here’s an obvious point, but an objection I hear often — Guess what, saving money means changing the way you do things. But here is the big question: Do you want to hold onto your pride, or hold onto your money? I thought so. Without further ado, I offer …
5 Things You Can Do This Week to Save Money
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Don’t go grocery shopping — Take a break this week from grocery shopping. Only buy what you absolutely need — this normally means produce and, perhaps, milk. The strategy — and challenge — is to eat out of the pantry, fridge and freezer this week. So instead of bacon and eggs, head to that box of cereal this week. Look in the freezer and find the meat you have stored there. Use the tips from this post to find out what you can make with what you have on-hand. Want an idea how much you will save — we spend $75 a week on groceries. We’ll easily save $50! Take this strategy once a month.
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Bring your lunch to work – In that you are cooking at home, use those leftovers for lunch! Make a sandwich, pack some fruit, and even pack a soda, if you have it. If you spend just $2.99 on lunch every day at work, that will equal $15 more in your pocket by Friday!
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Cut that utility bill – Did you know every glowing green light in your home is costing money? That means, turn off the computer, turn off monitors, turn off the cable box when not in use (I do it when I go to bed). Like your Dad said, turn off lights. If the family is in the living room, there’s no reason to turn on the hall light. Anyone can flip the switch if they need it. Check your fridge thermostat — is it set at the factory setting? This will save you a lot of money! Try turning the water heater down one notch. A little conservation adds up at the end of the month bill. (I just turned down our water heater.)
- Take a hard look at bills – We all get in the habit of just paying a bill each month, but ask this question of each: Do I need this or do we use this? Do you have HBO on the TV, but rarely watch it? Cancel it. You don’t have to wait to the billing period — do it today and they will prorate. No one will even notice. What about cell phones? Do you have too expensive of a plan, or could you even do without? We started to share a cell phone because rarely were we both out at the same time — this saved $500 per year! And, honestly, do you need one? (Yes, there was a time when people didn’t carry a cell.) I used to have my beard trimmed (costing $5) now I do it myself with a $10 clipper I bought. A little adds up to a lot!
- Review your insurance policies – This is the big challenge for the week, but can offer you the most savings! I dropped collision and comprehensive on my car due to its age, and cut my insurance bill in half! If you own your car outright and it’s older, most likely you should do it, too. The formula is simple: Drop collision insurance if the annual fee for the coverage is 10 percent or more of the car’s value. For example you can probably drop the coverage if your car is worth $5,000 and your annual collision coverage costs $500. I saved $500 a year by dropping collision/comprehensive. If this is not possible — or makes sense — raise your deductible. I think $500 is a good mark for a car, because most any repair costs $1,000+.
So there is your challenge this week. Make it a habit, and you will be seeing the savings! Find more money-saving tips with these posts.
7 Responses to “5 things you can do this week to save money”
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8:27 pm
Great ideas! I need to do a week where I shop my own pantry. Every time I go in the store, I spend more than I meant to. Ugh.
8:59 pm
Me too! And, toward the end of each month? I hold off the grocery shopping. DH always says, “If we need it? Buy it?” And, I say. No, if I wait until the next billing cycle then we didn’t spend that extra $$ that month. And, add that up times 12 and that’s a whole lot of money!
Cuz, we finish out the month with all we have in the house. And, there’s lots…. just gotta’ be creative.
Though. I’m an ixna’ on the cell phone. But, I am a female with small children. I pay my Mom’s cell bill cuz’ she’s disabled. And, I can’t chance her letting that fail to pay the light bill. But, we don’t have a land line for her.
So, I guess it evens out.
I did, thankful for the reminder, shut off the PC rewoken from it’s coma, for the kids to play with….and, it’s been plugged in and rarely used since the day it first died. Along with the speakers and printer. GASP! Wattage waste!
Thanks for the extra reminder. I always flip the switch? But, you still saved me some dollars this month!!!!! Well, you save us money and send us the links for freebies every day! I heart you!!!!!
Happy Sunday!!!!
9:23 pm
Great tips! My husband this week bought clippers and we are going to shave his head instead of it costing $15 every 3 weeks. We did it this weekend and it actually looks better on the setting he used. I’m going to go around the house tomorrow and unplug what I can. Thanks!
1:19 am
What wonderful comments! To me, it’s a game — see where I can save new.
5:05 am
[…] carinsurance wrote an interesting post today onHere’s a quick excerptI dropped collision and comprehensive on my car due to its age, and cut my insurance bill in half! If you own your car outright and it’s older, most likely you should do it, too. The formula is simple: Drop collision insurance if the … […]
8:02 pm
After 3 weeks of houseguests, I’m back and looking for ways to save. Thank you for the reminder about the electronics; I am guilty of leaving the computer on! Impatience is my only excuse, and a sorry one it is. I pack lunch for my dh and 4 sons most days, and dh is gathering auto insurance quotes (I think he does it annually). We did just bundle our phone, internet, & TV. It’s more than we wanted, but for a period of time it is cheaper than separate for less (and the other reliable phone company proved unreliable).
8:26 pm
Ugh — 3 weeks of houseguests! You deserve an award for that!
Good for you on the bundling — we just did the same (and got $250 in rebates!)
Let me tell you, just making an effort, you are so far above everyone else! Kudos!
Harry