I have been doing a bit of digging on the different methods to save dollars and have located several good ideas amongst those that are not so valuable.
Suggestions that are not so helpful are those that are unrealistic ("pay off your credit cards now and save interest" which you would (have done if you were able to), lame (coupons and rebates and silly scams like that) and too much of a sacrifice (use public transportation, etc)
So, here are a few valid suggestions...
1. BUY GENERIC PRODUCTS - Do you really need Betty Crocker cooking oil when you can purchase the exact same thing cheaper made by Albertson's? Multiply that across peanut butter, toilet paper (Target has the best!), other paper products like tissue paper, breakfast cereal and you are looking at noticeable savings with no sacrifice!
2. LEAVE THE CREDIT CARDS HOME WHEN YOU GO TO THE BAR! - Drink less, be less of "Mr Big Spender", less hangover in the morning!
3. USE VOIP - What's VOIP? Voice Over Internet Protocol. If you use SKYPE for instance, it costs essentially nothing and you can save the expense of a traditional phone line. If you connect to the net using Cable TV then you don't have a need for a phone line at all.
4. GET PAID BY DIRECT DEPOSIT/ACH - Why does this save cash? Have you ever gone to deposit a check and not taken a bit of cash out? If you get paid by direct deposit then you won't have that temptation!
5. PAY YOURSELF FIRST - This is more a savings plan then a way to save on items you are buying but it is all about more money for you, right? Take 10% of each paycheck off the top and plunk it into a different savings account that you don't touch. And FORGET it is there. You will discover that you get by just fine without it and actually build up some savings. Some ways to do this... if you got a raise deposit that surplus money in that account. If you paid off a debt continue to pay it but to yourself. Think of some ideas of your own.
6. SAVE ON AIR CONDITIONING/HEATING - Run the thermostat at the lowest energy use (like at 50 degrees in the Winter) during the night and have a room heater. I have a small room heater that I purchased at the drug store for $23. That thing cranks. I hardly have to have it above the lowest level and it is more than enough to heat the room.
7. OPTIMIZE YOUR GASOLINE CONSUMPTION - Properly using water in your gas/gasoline system can save you up to 1/3 off gasoline expenses for your auto by making the fuel you buy perform better. If you pay $40/week for gas you might just save $600 or more per year!
