Random Thoughts

Recently, an unexpected (and also expected) happened in my job so I'm looking for ways to earn and at the same time save money.

Honestly, I can say that 2009 was the best year so far because I splurged a lot by shopping online here and there. No savings last year but I was definitely happy with my purchases. (*grin*) But aside from splurging and shopping, I was able to start a small business too which I hope will pick up this 2010.

Yesterday, I was browsing some topics about frugality and saving money when I came across these 25 ways to save money and I thought of sharing it here because I found pretty useful.

Here are 25 ways to save money:

1. Make it automatic. Before I see my paycheck, a good portion of it is diverted to my 401(k) and savings.

2. Keep minimum funds in checking account. We make our money work for us by funneling extra funds into our savings account where it will earn more interest than in our checking account.

3. Don’t pay banking fees!

4. Use rewards credit cards.

5. Actively search out deals. It never hurts to try and find a better deal, or request a better deal from your service providers.

6. Use a programmable thermostat. Programmable thermostats save you an estimated 10-20% on your heating and cooling bills.

7. Use ceiling fans, floor fans, and space heaters.

8. Install CFLs to save energy. Compact fluorescent lights use about a quarter of the electricity of normal incandescent bulbs.

9. Drive smoothly.

10. Plan and research major purchases.

11. Buy quality products. Quality items may cost more up front, but they last longer and generally provide better results than cheaper, inferior products.

12. Buy generic where applicable. Yes, I just wrote “buy quality,” but you can save a lot of money on generic items for which the brand name product is essentially the same as the store brand. Food and medicines come to mind as items where generic products are good deals.

13. Use coupons and rebates.

14. Use store rewards cards.

15. Cook at home.

16. Eat leftovers. I grew up eating leftovers, and I still love them (as long as they are not leftover from when I was a kid! yuck!). I estimate I save a minimum of $20 a week by bringing my lunch to work. It is also healthier, and on the rare occasion I go out to lunch with coworkers, I enjoy it more.

17. Use the library.

18. Use parks. My wife and I love to go hiking. We have 2 great parks nearby that we visit often. We get great exercise and the only costs to us is the gas to drive there.

19. Take care of things. I treat things I own with respect and take good care of them. This includes doing things such as cleaning our house, washing our cars, and polishing shoes. Things last much longer when you take good care of them.

20. Buy insurance. Health insurance, home owner’s insurance, auto insurance, and other types of insurance are designed to save you money! Sure, you may end up paying premiums for years and never file a claim, but in the event you need to file a claim, your premium will likely be small compared to what you would have had to pay. You’ll be very happy if you ever need it!

21. Bundle cable and internet. You can save a lot of money by bundling these together rather than purchasing the separately. You can save more if you bundle your phone as well, but my wife and I actually save money by not paying for a landline.

22. Use cell phones – skip the landline.

23. Cancel subscriptions. We don’t get the newspaper or magazines. Almost everything we want can be found on-line for free.

24. Home improvement. Once upon a time I was an aircraft mechanic in the USAF, so I am fairly handy with tools. I am comfortable repairing most items around the house, and I always attempt to repair problems before calling a professional. However, I am not afraid to hire out anything dangerous or that I don’t have the tools to do. (usually electrical or plumbing).

25. Avoid debt.

Saving money would definitely be a great way to start the year right. (*wink*)

SOURCE.