Category: Budgeting

Saving money is easy, it’s the sacrifice that’s hard. So, for a few minutes, I’m going to provide both sides of the money-saving coin for you (see what I did there) as well as some fresh approaches to saving money. Most sites you’d visit for this information only give you the money saver and not the reality of that decision. I keep it real, folks. I’ll give it a feasibility grade and I’ll do it in alphabetical order, more or less, for a little flavor. Here’s A – M:

A:            Ask your TV/Internet/Phone provider if there’s a cheaper bundle you can subscribe to. I could be wrong here, but your provider likely won’t call you to explain your options. However, if you do reduce your costs with another package, you could be left with 9 C-SPAN channels and round the clock coverage of some city’s housewives. Please. Know what you have to have for your family and make the call. This one’s not the best fit for us. We already have the lowest cost package and it’s still too much money for the channels we have, but the bundle does include the internet and a landline. You might ask about dropping the landline to see if there’s some savings there. And you could watch TV on your computer if you have the screen for it? This one’s a work in progress. Grade: C

B:            Bring your lunch to work. It can save money, no doubt. But you may be limited in what you can bring if there’s no fridge or microwave. And are you willing to spend time the night before making a lunch when you could be watching those C-SPAN channels? I usually go home for lunch. It’s a nice change of scenery, I get to see my wife and youngest son. Clears the head. Grade: I’ll give this one an A.

C:            Catch the neighbor’s pet. Keep your money in your pocket and leave your door open. We don’t own a pet, but we do have a cat. Said feline loves my kids. He comes over every day to lay on the couch and ignore us. It’s great. I don’t feed it, I don’t give it shots, and it leaves willingly. It’s a cat. He requires very little attention and costs nothing. Zilch. Nada. Quite proud of this one. Love you Bobo! (Bobo may or may not be his real name.) Grade: A+  

D:            Don’t spray your yard for weeds. Here’s the good news: The weeds are green, too. Boom! And when you cut your grass, it’s all the same height. Boom! Boom! You have to be willing to accept a raised eyebrow from your wife when the kid steps on a Prickly Lettuce weed, though. Other than that, I’m going green, baby! Grade: A    

E:            Eat out less. Hard to argue with this one. It’s a great way to save money – particularly with multiple kids. The drinks alone for a family of 6 can approach $15.00, so opt for waters “all around.” And with a little research, you’ll likely find a few restaurants that allow kids to eat free on certain days. Free is good. Here’s another idea that I may or may not have tried last week. If you encourage some or all of your kids to spend the night at a friend’s house – boom – your bill just dropped in half. Someone else is feeding your kids, your kids are improving the socialization skills, and you’re saving money. Everyone wins. Entertainment expenses and hungry kids will absolutely destroy a budget if you’re not careful. Grade: I’ll give it a A.

F:            Find coupons. They’re all over. If you have the time to do the research, the clipping, the printing, then you can reap the rewards. Here are a few sites: retailmenot.com, couponmom.com, couponcabin.com and coupons.com. You can also find them on local flyers and in the stores themselves. Warning: If the lady in front of you pulls out a binder, she’s not showing the cashier her baseball card collection. Find another line, quick, or you’ll be there a while. Grade: A-

G:           Get a coffee maker. There are some for whom the light of the sun doesn’t quite cut it. That’s why God created coffee. Make it and take it with you. Saves you time (no waiting at the drive through) and money. I’m in. Grade: A

H:            Hit the lights. There are times when I’ll walk through the house and almost every light will be on. This is my family’s way of letting each other know where they’ve been, I guess. This one has the potential to be a big money saver for us. If you’re not in the room, then you don’t need the light on. Easy enough. And if you have enough natural light in the room, you may just opt to leave the lights off. When I’m home, it’s Little House on the Prairie. It worked for Charles Ingalls, it can work for you. This one’s easy to do but you may be riding solo in the effort until all are on board. And with your kids, you can threaten to kick out the neighbor’s pet if they don’t get on the train. It takes time, but it works. Grade: B+

I:             Interest rates. I once was told there are two types of people in this world – people who pay interest and people who earn interest. If you have to pay interest, pay as little as possible. Ask your credit card company for a lower rate. If after speaking with a supervisor in the retention department, you’re told a lower rate is not available, then consider moving your balance to a company with a lower rate. This is somewhat like treating the symptom instead of the cause, but if it keeps a little money in your pocket, then it may be worth the hassle. Grade: B

J:             Jump in the backseat. Catch a ride with a co-worker and save some gas. Works best for folks with long commutes and folks who don’t need to be out and about during the workday. Not a good one for me, but I see the benefits for those whom it fits. Grade: C

K:            Kick that thermostat down (or up) when you can. My wife and I are total opposites here. She’s flannel sheets, I’m cold sheets. She’s, “Turn the heat up.”  And I’m, “What dear? What’s that you say? I couldn’t hear you for the roar of the furnace and the near dehydrated state I find myself in despite the pool of sweat in which I sleep!” The trick here is keeping people’s hands off of the thermostat. Programmable thermostats are great. Set it for an agreeable, if not optimal temperature at a given time of day and avoid heating and cooling when it’s not necessary. Grade: A

L:             Limit your family’s data usage on the “smart phone”. Unlimited talk and text are yesterday’s news. What gets you is the amount of data you’re using. Track your usage over a few months and see if there’s a less expensive plan that will cover it. Set alerts on your phone letting you know when you’re approaching your limit. Use Wi-Fi when you’re at home or in your office. No need to pay for access when it’s already there. And here’s a crazy idea – use your phone only when you need to speak with someone who’s not standing in front of you. Otherwise, read a book, get back to work, introduce yourself to your kids, or go outside and see the sun. I’m approaching a tangent, so I’ll stop there. Grade: B

M:          Mow your own yard. Granted, for many, cutting the grass is not fun. And you may willingly pay to have this done for you and choose to sacrifice elsewhere. Totally understandable. A thought for you to ponder: If you’re paying $75 to $100 per month to have your yard done, consider spending that money on term life insurance instead. (“Oh please,” you say.) Depending on your age and health, you might be surprised how much of a death benefit you could receive for $1,200.00 per year. And here’s the irony: If you’re outside doing your own yard work, you’re likely improving your health, thereby, one might be able to argue, negating the need for the additional life insurance. In that case, I’d just put the $1,200.00 back into your pocket to cover the cost of your data plan that allows your son to check his Facebook page while he’s in American History. Grade A+

N – Z to follow in a week or two if the blog doesn’t get pulled.