25 Money Savings Tips for Everyone

These are 25 money saving tips, I use daily/weekly/monthly and they work!  I learned at a very early age that I needed to save my money to get the things I wanted.  Notice, I said the things I wanted.  My parents provided the things I needed!  Previously, I wrote “10 Changes Can Make Millions” and I thought I would share some more.  Start making changes today and you can start saving for what you want too.

25 Money Saving Tips:

• Walk, bicycle,  public transportation and sell your car – During my working career, I used buses, trains, ride shared, carpooled and even accepted paid riders.  These are just a few ways to reduce the cost of transportation.
• Get a rewards credit or debit card – Although many of these cards have annual fees, it may be a worthwhile expense if you pay your balance in full each month.  I accumulate enough frequent flier miles to fly overseas business or first class every other year.  Target offers a 5% discount (immediate rebate) credit or debit card.  Now, that is a reward!
• Ask for a discount on major purchases – I constantly ask for discounts on any purchase where I may qualify or look for an excuse to ask.  As recently as today, I was about to purchase a desk chair and asked for a teacher discount.  There are many discounts available just for the asking such as professional, AAA club, Senior citizen, and government.  Don’t be afraid to ask.
• Use the library – They have plenty of books, electronic books, CD’s and DVDs. You can also request that the library buy certain books.  You can reserve books and other things at the library.  In most cases you will only read a book once, why pay for it?
• Make savings a game – Set goals and give yourself a reward if you reach them.  I set a goal of at least a 25% discount or I won’t buy it.  Put the savings in your bank account.
• Find simple things to do vs. spending money – Playing board games at home vs. going out is one example. A walk on the beach, picnics, going to a public park or other family outings.
• Cold water wash – A repairman pointed this out to me and using liquid detergent.  It saves on utilities and reduces repairs.
• Negotiate – I love to negotiate and it does not have to be a chore.  My style is just asking questions.  For example, when will the product go on sale or will you match a price of another store or internet?
• Plan your vacation – Who does not enjoy vacations?  Planning vacations allow you time to find better prices or use discounts.  The earlier you plan, the more options are available.
• Save stamps by banking online – I discovered online banking years ago when I was going on vacation.  I needed to make sure my bills were paid while I was away.  The side benefit is I no longer use stamps which can add up to $10-20 per month.
• Shop subscriptions online – I only have a couple subscriptions (magazine & newspaper). I shopped it online and renewed the magazine for three (3) years for $8.22.  I called my newspaper and reduced my subscription by 50% just by asking.
• Forget the gym membership – You can walk, run, bicycle, lift weights or setup a home gym.  I did 8-10 years ago.  I still use it and added a treadmill and stationery bicycle.
• DIY – I learned a long time ago that I cannot do anything mechanical.  I end up making a mess, so I found the best cheapest repair people.  That is my solution!
• Never pay fees for bank accounts, late fees, overdraft fees, ATM fees, penalties, or interest – I avoid fees/interest by finding ways to qualify.  When in doubt ask and they will tell you how to avoid it.
• Make Savings automatic – I set up a payroll deduction for my 403(b).  Years ago, I started a payroll deduction for my property taxes and other annual expenses.
• Drink water – Stop buying soft drinks and just order tap water; it is good for your health and free.
• Adjust water heater – Do you really need near boiling water coming out of your faucet?  Of course not, it will save you a lot of money.
• Programmable thermostat – I set my thermostat to a low temperature in the winter when no one is home and high temperature during the summer.
• Share books – My wife shares her electronic books with her friends and print books too.
• Surround yourself with successful people – You will learn a great deal from successful people and it will help you to remain frugal.
• Spend your time learning something instead of wasting it shopping  – Shopping should not be your recreational sport of choice.  Find other interests that do not cost money to occupy your time..
• Keep your car long after you pay it off – Today’s cars can last 10-15 years without major repairs.  My cars were old (17 years old) before I replaced them.
• Think long term – Quick fixes usually costs more than a well thought out solution.  Investments, furniture, appliances or savings to name just a few.
• Learn about money, investments and business opportunities – Every day we spend money and eat food.  We need to learn about food to stay healthy and money to stay financially healthy.
• Don’t invest in anything you do not understand – Warren Buffett sticks to investments he understands and has done very well with that strategy.

These are 25 money saving tips, I use daily/weekly/monthly and you should too!

Photo by:  Flickr