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Finding ways to spend less

September 7, 2011 17 Comments

With everything the way it is today, I wish I would’ve spend less to save more back when I had the chance. It’s very hard to save when you’re offered the lowest interest rates of all time on savings, people are getting laid off left and right and the stock market not performing as good as people would like. At the same time, prices are rising ever slowly on everything else such as gas, food, energy, etc. It seems like a no-win situation but there are always ways to go around that, of course you can’t help but take what the economy throws at you; but you can work with it in order to save you money and make it more manageable.

If you drive…

  • Do preventive maintenance such as inflating your tires, change your oil, air filter, brakes, tires, etc. in order to increase your car’s MPG.
  • Take it easy on the gas. You’re paying for that high price gas, don’t waste it by driving like a speed demon.
  • If you’re comfortable fixing the car yourself and have enough knowledge to do it then by all means, do it!
  • If you have to buy a new car, get one that’s fuel-efficient like a Hybrid or other 4-cylinder automobiles that is within your budget. Rather than trade you can easily sell your old car to reputable companies.
  • If you have to drive, make sure you do ALL of your errands in one drive.

If you have utilities…

  • Save some energy by using the microwave rather than the oven because it can save you roughly 20% required by an oven.
  • Use energy-efficient flourescent bulbs rather than incandescent bulbs throughout your house.
  • Wash your dishes and clothes in cold water instead of hot.
  • If you have old windows and heat is leaking out in the winter, buy plastic film window covers to seal it up.

Mange your finances…

  • Choose credit cards with no annual fee but get one that pays your back with rewards.
  • Make sure you pay down your credit balance as quick as possible to avoid interest charges.
  • If you have high interest loans, try calling the company and ask for lower interest rates. It usually works if you have a good history with them.
  • One important rule of thumb is don’t spend more than what you make.
  • If you usually shop at one place, make sure you sign up for email discounts if they have it. Look for their coupons in the newspapers or in your mailbox, or use Coupon Sherpa to browse for current store coupons to offset your costs.

 

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Comments

  1. Miss T @ Prairie EcoThrifter says

    September 7, 2011 at 11:39 pm

    Great tips. One way to add that we have found helpful is to make your own personal care and cleaning products. Not only do you avoid a ton of chemicals but you also save money. There are tons of awesome recipes online which work great and often use items you already have in your house.

    Reply
  2. Aaron Hung says

    September 7, 2011 at 11:52 pm

    really? what have you made?

    Reply
  3. MoneyforCollegePro says

    September 8, 2011 at 12:18 pm

    Using a rewards credit card, and paying it off every month, has consistently generated a couple hundred dollars a year for me. Well, closer to $1000 really. It’s a good source of extra income.

    Reply
    • Aaron Hung says

      September 8, 2011 at 12:54 pm

      Wow really? that’s great! I have a bunch of reward points on my one card that’s just accumulating every month so I need to find something to redeem but haven’t got time.

      Reply
    • Beating Broke says

      September 8, 2011 at 3:10 pm

      That’s actually one of the things that’s on my list of things to try once I get the rest of my debt paid off. I think that you can make a fair amount by doing this and paying off the balance each month.

      Reply
  4. Jen @ Master the Art of Saving says

    September 8, 2011 at 4:07 pm

    Great tips Aaron. We do a lot of the things on your list now, but there were still a couple that I should try out.

    Reply
  5. Little House says

    September 9, 2011 at 1:59 pm

    Great tips. I’d also add under the car savings, walk or ride a bike for short distance errands. That way, no gas is used at all!

    Reply
    • Aaron Hung says

      September 9, 2011 at 2:22 pm

      Of course! ride a bike especially when you’re in a big city like New York

      Reply
  6. Funancials says

    September 11, 2011 at 4:16 pm

    I agree with MoneyforCollegeProject. I’ve gotten in the habit of putting everything on my rewards card / paying it off every month. Be sure to read the fine print of what purchases earn what rewards. Sometimes paying an annual fee for these cards is worth it, other times not so much. Good tips.

    Reply
  7. World of Finance says

    September 11, 2011 at 11:40 pm

    Great tips Aaron. 🙂

    Reply
  8. SB @ One Cent At A Time says

    September 12, 2011 at 12:04 pm

    Many of these you can elaborate and make individual posts in coming days.

    Reply
    • Aaron Hung says

      September 12, 2011 at 1:07 pm

      Okay thanks for the tip One Cent:D

      Reply
  9. Mike says

    January 30, 2017 at 10:39 pm

    Awesome tips thanks so much!

    Reply

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