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My favorite 65 cost saving strategies for 2015

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  • My favorite 65 cost saving strategies for 2015

    Over the past few weeks I've been collecting the best household cost saving ideas to try and apply in 2015. So here's a list of my 65 personal favorites. If anyone else has any they love that I've forgotten (I'm sure there are tons let me know in this thread! I liked this list so much that I ended up making an infographic.

    1. Start saving your loose change. If you keep it all in one place it will start to add up.
    2. Start collecting your receipts to make it easier to track your spending.
    3. Think about big purchases for at least a week before you actually buy.
    4. Try thinking about purchases in terms of your hourly rate at work. Is what you want really worth that many hours of working?
    5. Set daily savings goals instead of weekly or monthly. It will be far less intimidating and will up the chances that you actually end up with some big savings by the end of alonger period.
    6. Live simply! Try not to collect things.
    7. Talk about your dreams with your friends and family. This is not only a fun thing to do but it will also help you plan and save for them way in advance.
    8. Wipe your computer cookies often. This will take your credit card info off shopping sites making it harder for your to make unnecessary purchases.

    Food

    9. Always order water when you go out instead of soda/alcohol. It'll be cheaper now AND later as it's a much healthier option.
    10. Invest in a deep freezer. This will allow you to get bigger food discounts buying in bulk. Also, it'll lower the chances of you coming home to an empty pantry at night and being "forced" to eat out
    11. Switch from your fancy caffeine drinks to regular black coffee.
    12. Make huge batches of casserole or other easy to freeze meals to save time later on.
    13. Pack your lunches at home so you don't have to eat out every day.
    14. Shop around at your local grocery stores. The prices on some items will be vastly lower at certain retailers.
    15. Get a crock pot. Start it in the morning before you leave. Your dinner will be ready when you get home saving you time. Plus it'll heat the house up a little bit.
    16. Eat less meat. Vegetables and fruits give you way more calories for your dollars.
    17. Make sure to shop with a Grocery list and stick to it.

    Health

    18. Ask your doctor if it could make sense to switch to generic medicines to replace any newer ones you're on.
    19. Care for your teeth. Dental emergencies are extremely expensive.
    20. Quit smoking. This saves tons of money right away plus saves a ton in health costs down the road.
    Banking
    21. Leave your credit card at home. You can still have it around for emergencies but you shouldn’t need it everywhere you go.
    22. Plan ahead for when you're going to need cash. ATM's that aren't owned by your bank can charge you lots for taking out cash.
    23. Make sure you're making payments on time for things to avoid late fees.
    24. Consolidate your student loans. It could lower your monthly payment considerably.

    Insurance

    25. Shop around before renewing your insurance policies each year. Pricings will probably have changed since last year. Make the companies compete for you every year.
    26. Raise your deductible for things that are unlikely to take place yet. This will lower your monthly insurance fee.
    27. Make sure you're not paying for insurance you're getting from your school/work.
    Transportation
    28: Keep your tires inflated to get better gas mileage.
    29. Shop around for the best deals on flights. Different online portals can sometimes find you special deals.
    30. Research which gas station in your area is selling the cheapest gas.
    31. Clean your cars air filter every 10,000 miles. Find a guide online for your car. It isn't too hard
    32. Make sure to pack enough food before you head out on a road trip. This will stop you from eating out a bunch on the road.
    33. Drive slower. Sudden speed ups and stops will increase maintenance costs over time.
    34. Don't speed. Speeding tickets can be extremely expensive.
    35. Use public transit over cabs whenever possible. Make sure you know the bus schedules in your area.
    36. Look for an opportunity to trade in your car for something more fuel efficient.
    Housing
    37. Downsize your living space. If you don't use all your space on a daily basis chances are you could be living somewhere smaller and less expensive.
    38. Move closer to work. This will save you lots of time and fuel.
    39. Refinance your mortgage at a lower interest rate if possible. This could substantially lower your monthly payment.
    40. Turn off the lights whenever you leave a room.
    41. Switch as many bulbs as you can to LED. This will lower your electric bill.
    42. Install a programmable thermostat to avoid wasting heat when you're not around.
    43. Get a new property value assessment. If your area has been hit with lower property values recently this could substantially lower your property tax bill.
    44. Weatherproof your home before things get cold. Your local hardware store could probably help you with some good tips for this. It will save on heating costs during the winter.
    45. Use window covers to regulate your homes temperature without having to use internal heating/cooling systems.

    Clothing

    46. Shop more at Goodwill and other discount outlets.
    47. Repair and patch up ripped clothes instead of throwing them out.
    Communication
    48. Get rid of your land line if you have a cell phone.
    49. Research different cell phone plans to find the one that perfectly fits your needs. Most people are paying for things in their cellphone plan that they don't use.
    50. Ditch your smart phone for a dumb one. Flip phones without internet are way cheaper, more durable, and less distracting.

    Entertainment

    51. Make sure you're not paying for any memberships you're not using.
    52. Look for community events to attend for low cost family entertainment.
    53. Switch out cable for Netflix. It is often way cheaper.
    54. Get a library card and stop buying books.
    55. Buy video and board games that can be played over and over.
    56. Turn off the TV. The ads will make you want to spend money!
    57. Start a garden. It's great fun and can save money if you grow things you can eat.
    58. Have friends over for drinks instead of going to the bar.
    59. Read more. It's one of the cheapest forms of entertainment there is.

    Family and friends

    60. Plan gift giving way in advance so you can get things on sale.
    61. Discuss family spending limits for gifts. This will help everyone in the family save.
    62. Have potlucks instead of meeting friends at restaurants.

    Super Extreme

    63. Collect ketchup and mustard packets from fast food joints!
    64. Go dumpster diving in fancy neighborhoods.
    65. Collect used golf balls and resell them. (Warren Buffett did this and I hear he's not strapped for cash.)

    Hope you liked my list of favorites! Happy holidays!
    Last edited by jeffrey; 12-23-2014, 03:11 PM.
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