10 ways you can start saving money today

Posted on July 23, 2007
Filed Under Money |

Sometimes the thought of saving money can be daunting. There are many long-term options that require careful consideration and perhaps the services of a financial planner. Sometimes, however, we may need a bit of a jumpstart. Here are actions you can take today to begin saving money, starting right now.

  1. Call your credit card company and request a lower rate. Often, they will give you a lower interest rate simply because you asked. Of course, if you pay late, that interest rate will hit stratospheric heights.
  2. Pack a lunch. This can be as simple as grabbing a yogurt, peanut butter and jelly sandwich and a drink. You can also grab leftovers from the night before that otherwise might have ended up languishing in the refrigerator.
  3. Don’t do your chores. Instead of doing the wash today, wait until you can do a full load. The same applies to the dishwasher. You will save money on detergent, hot water and electricity.
  4. Unplug appliances that are “energy vampires”. Televisions and computers are the worst culprits, as they pull energy even when they have been turned off. Some people put their television, DVD player and game system on a power strip and simply turn off the power button on the strip when these items are not in use.
  5. Don’t spend any of your change. If something costs $5.05, then don’t go searching for a nickel. At the end the day, put your change in a jar. At the end of a year, you should have enough money to go away for a weekend or purchase that game system you’ve had your eye on.
  6. Turn on your fan. It can cost as little as one or two cents a day to run a ceiling fan, which enables you to turn up the thermostat and still be comfortable while saving dollars on your cooling bill.
  7. Drink water. For every glass of water that you drink as opposed to a soda, you save up to a dollar, and about 260 needless calories. Excess weight is always better when it is in your wallet, not on your thighs.
  8. Go to the library. If you like to read, free is always better than the price at the bookstore. Also, most libraries also have DVD’s and CD’s that you can check out as well.
  9. Eat healthy foods. Healthy foods are those that still resemble what they looked like when they were growing on the farm. If your three-year-old can’t identify it, think twice about whether or not you should eat it. Eating healthy today will save you lots of money in health care costs tomorrow.
  10. Put your bills on automatic bill-pay. The money you save in late fees and possibly reconnection fees is well worth the few minutes it will take you to set it up with your bank. This option is good for people who are comfortable with online banking.

All ten of these suggestions are things you can implement today. Think about the long-term benefits over an entire year. You will easily have over a thousand dollars that you wouldn’t have had otherwise. What will you do with the money?

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