Money Saving Tip: Go Green

These days “going green” isn’t just for the tree-huggers and the eco-activists, but rather it’s also for the smart money savers too. Whether it’s your car, your home or even what you eat, often times the green choice is also the economic choice. After all, the majority of green items are considered such because they are more efficient, and thus use less energy than their non-green peers. And since energy costs money, the less you use of it, the more you save.

Now, granted, sometimes the green choice can cost more up front. Well, oftentimes, really. But with regard to a light bulb, for example, even if you have to pay an extra $5 for the eco-friendly bulb, you’ll still save around $30 in energy bills over the lifetime of that bulb. So an extra of $25 in savings, and that’s just for one bulb. If you have ten to twenty bulbs in your home, that amounts to $250 to $500. And that’s just with light bulbs!

Same goes for more fuel-efficient vehicles — the better the gas mileage, the less you have to fill up, the less money you’re spending — as well as appliances and even windows.

For more money saving tips, check some of our past posts.

Five More Easy Ways To Save

Amidst our nation’s current economic troubles, many families have found themselves tightening their proverbial belts. And, for some, this tightening hasn’t been too comfortable — or pretty, for that matter. Fortunately, not every money saver has to be difficult. Some are even easy, in fact. Really! Last week I highlighted five quick and easy money savers; this week I’ll list five more.

Exercise From Home. Simple concept: gym memberships are expensive, especially when multiplied out over an entire year, whereas working out from home is not. It can even be free if need be! You just need to be a little more creative. Jog around the block, instead of on a treadmill, for example. Or swap the StairMaster for the stairs at a local park. Or instead of a stationary bike — well, I think you get the idea.

(Note: purchasing your own machine-filled exercise room is not the solution here — unless, of course you already have one that you just don’t use.)

Vacation During the Off Season. Life is stressful, especially these days. And yet, just when we need a vacation the most, we find ourselves unable to pay for one, which can be very demoralizing. Fortunately, all is not lost. Off-season vacations are not only still a lot of fun (really), they’re also quite cheap too.

Cut Back on the Drinks. Whether your poison drink of choice is coffee, alcohol or soda, there’s always some room to cut back, even if just a little. Now, I’m not saying you need to go cold turkey or even that you should cut your intake — I know better. Rather that you should finder cheaper alternatives. For example, consider swapping your daily Starbucks for some home brew, or slamming your daily beer (or three) at home instead of at the bar.

Go Generic. A few years ago it might have made sense to get the name-brand stuff for purposes of appearance, but I can only hope that mindset has since been dutifully put to rest. Because, really, appearance is all that differentiates the brand name cereal from the generic, the taste is the same. Same goes for medicine, clothing and other grocery items.

Buy in Bulk. Now, this probably isn’t a wise idea for produce and other perishables — unless you have a very large, very hungry, vegetable-eating family — but for non-perishables, stock up! Because the more you buy, the lower the price (per item).

5 Simple Money Savers

Saving money isn’t always easy, but it doesn’t have to be impossible either. The key is to set a few small goals, stick to them, and build off of your success. But it takes time. Just as weight loss doesn’t come overnight, neither does a balanced budget. Nevertheless, with a few smart, daily goals, you’ll find yourself reaching your goal before you know it. To get you started, here are five quick and simple money savers that really add up.

Track Your Expenses (The Easy Way). Yes, tracking your expenses can be easy — now more than ever. With free automated services like Mint.com leading the way, you no longer have to dig your way through old receipts or hire an accountant to keep track of what you spend. All you have to do is sign up and the program does the rest. Then, at the end of the month, you’re given easy to read graphs and charts letting you know where your money is going and how you can best save.

Bring Your Lunch To Work. Eating out daily, even if just for lunch, can add up fast. Let’s say you spend $10 a day on lunch (food, drink, tip and tax), multiply that over a year — only including work days — and that totals out at $2,600 a year! Even at just $5 a day you’d still be spending $1,300 each year. As you can see, it adds up. A lunch from home, on the other hand, tends to be in the two to three dollar range — and that’s for a good lunch too. Don’t think you have the time in the morning to pack a lunch? Just pack it the night before. It takes five minutes.

Bundle Your Errands. Gas is expensive these days, especially for larger vehicles. As such, driving everyday just for errands can eventually take a toll on your bank account. Instead, pick one or two days a week to get your errands done. That way you do all your driving at once, and aren’t driving to the store, back home, to the store, back home, and on and on.

Free Entertainment. Going to the movies, concerts and nice dinners can be fun, but they’re also expensive. Instead, look for cheap (or free) entertainment options. Rent a movie and eat popcorn at home, check out the local library (or park or museum), start cooking at home (actually pretty fun!), and so on. Need more ideas? Check the listings in your local paper, you’d be surprised how much goes on around you — and for free!

Online Billing. This one saves you money and time, a two-for-one. Easier now than ever, online billing not only does away with stamps, letters and paper all together, it also frees your time and your mind, giving you one less activity to worry about every month. Plus, you’ll never have to worry about late fees again — those things add up!

For more information on how to save money, check some of our earlier tips or visit our website.