I’ve always been frugal for as long as I can remember. My mother used to tease me that I could pinch two pennies together and make them squeal (whatever that means). I was able to retire a couple of years ago and my government pension is more than adequate, I am completely debt free and I owe not one penny for my house or car. My mother died over a year ago and I did not inherit one dime from her estate and in fact I helped her out a bit by sending her a monthly stipend to help supplement her social security income. Before I retired I worked as a librarian so you know that I wasn’t in the high income bracket but it really doesn’t matter what you make, it’s what you spend.
Not that I’m claiming to be Suze Orman or anything but I would like to share some tips on saving money and I would love to have folks post some of their money saving ideas and this won’t keep your house out of foreclosure but a few bucks saved is always welcome. So in no particular order here goes.
- You want to read the latest bestsellers or watch new release movies, don’t buy them, check them out at the best bargain in the world – your public library. All public libraries even the ones in little towns buy lots of copies of bestsellers and DVDs. Patience is the key since you might have to put your name on a long reserve list but it’s very satisfying to use the library which you are supporting with your tax dollars. I also use Netflix so I’m not against supporting commercial outlets.
- When eating at a restaurant only order water as your drink. Why spend 2 to 3 bucks ordering a soft drink or ice tea or even more money drinking alcohol. At lots of restaurants they even put a lemon slice in your water and it’s pretty damn tasting and that is free!
- One of my other favorite things to do at a restaurant is order off the kid’s meal which is always ½ the price of the adult meal. Since most restaurants give you such huge portions I like the smaller ones which come in the kids meal. I’ve never had anyone tell me that I can’t order the kid’s meal so just order it and start saving some money.
- Only make long distance calls on your cell phone on your free weekend days. I know not all cell phone plans work this way but some do and calling on the weekends for free is very satisfying since you aren’t using your own dime.
- Buy your bread and pastrys at the outlet stores. Most cities have these and we have an Entemenn’s store in my town and they have some amazing bargains and the products are still pretty fresh and have not reached their expiration dates.
- Except for your underwear and socks buy your clothes at a secondhand store. I have a pretty eclectic wardrobe and 90% of my clothes are bought secondhand. I hate shopping and going to store with a limited selection always appeals to me because having a smaller selection is easier to deal with.
- If you use the laundrymat always take your own detergent and don’t buy your soap there. When you go to dry your clothes just snag a few of the dryer sheets out of the garbage can or pick ones out of a dryer that still have them in there. Wash your clothes on a bargain day which most laundrymats have.
- Go to the movies at matinees only. Some of the big movie chains offer the cheapest price for the first showing of the movie so that’s an even bigger bargain. In the last twenty years I would say I paid full price for a movie two times because I refuse to pay $10.00 to see a first run movie.
- Reuse all padded envelopes that come your way. I mail off stuff all the time and I just save all my padded envelopes and boxes that I receive.
- Save your change in a tin and watch it grow. When you have accumulated your change for awhile turn it into cash at a place that doesn’t charge you a fee. My credit union has a change machine and it’s free for members.
- Speaking of credit unions put your money in them and not a bank. I can’t really see what banks offer except nickel and diming you to death so join a credit union. Their loan rates are better, their customer service is always friendly and your money is insured and protected just like the banks.
- Learn to drink hot tea and ditch your coffee habit. Your costs for a cup of tea is .02 (the cost of a tea bag), while coffee is .30-50 cents when you are brewing it at home.
I'm sure lots of frugal Kossacks have some great tips so fire away.