May 13th, 2009
Some people get a thrill out of paying the lowest possible price. But there are several factors that need to be looked at to see whether the best price is really the best price.
Cost of Acquiring the Deal
If gas is $0.02/gallon cheaper in the next town, it doesn’t make financial sense to drive 5 miles out of your way to save $0.30. You’ll be spending more on gas (plus wear and tear on your car) then you would receive in actual savings.
Time
Spending hours doing comparison shopping at the mall to save $2 on one item is not an efficient use of your time.
Usage
If you buy a product just because it’s on sale but never use it, then you would have been better off if you never bought the product in the first place.
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tim
Categories: Frugal Living, Misc, Saving Money
April 15th, 2009
There are many ways in which you can reduce your daily, weekly, or monthly costs. Below are a few ideas on how you can cut back your spending and save a few dollars.
Make Your Own Coffee
Instead of a cup of gourmet/specialty coffee at Starbucks or another coffee shop, invest in a coffee maker and brew it at home instead. If you can’t brew your own coffee consider trading down to McDonald’s coffee or somewhere else that offers more competitive prices.
Bottled Water
Don’t buy bottled water. Instead fill up a reusable bottle with filtered tap water from home. Numerous bottled water companies get their water from the same water source that you get your tap water from anyways.
Breakfast from Home
Instead of going out and buying breakfast in the morning, make your breakfast at home or bring a breakfast bar to eat on your commute to work.
Brown Bag It
Bring your lunch to work instead of going out to eat or buying from the cafeteria; this will almost always be cheaper (unless your place of employment offers free food). You don’t need to bring your lunch everyday; just brining your lunch 1-2 times a week can save you hundreds of dollars a year and help to enforce healthier habbits.
Avoid Vending Machines
Don’t buy snacks from vending machines, delis, or convenience stores. You can get the same items from your local grocery store at a much better price, so stock up on these snacks and store them at work or in your car.
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tim
Categories: Frugal Living, Saving Money
April 9th, 2009
Having trouble saving money? Start by saving $3.
$3 may not seem like a lot, but if you cut your spending by $3 every day, that will equate to over $1000/year in savings.
$3/day x 365 days = $1095/year
The same holds true for $20/week
$20/week x 52 weeks = $1040/year
…and $85/month
$85/month x 12 months = $1020/year
Take a close look at your spending; are there any daily, weekly, or monthly expenses that you can cut out?
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tim
Categories: Frugal Living, Saving Money