Dec 2009
30
As kids, it seemed as though our parents and grandparents seemed to have some pretty crazy ideas for saving a few pennies. What did they do with all of thoseread bags that they just had to save? But in today’s cost-conscious climate, some of those ideas don’t sound so crazy—in fact, many of them seem to make a lot of sense. So, take a page out of your grandma’s book and try a few of these money-saving tips. She would be proud of you.
Try an “old school” envelope system. Ask your parents—chances are they’ll be familiar with this concept, and your grandparents may still do this. There was a time (about 50 years ago or so) where people didn’t rely on their bank accounts as much as we do today. Instead, they took a few money envelopes from their bank and devised their own accounting system at home. Assign an envelope for each bill you pay every month—utilities (or a separate bill for each), phone/cable/Internet (or a separate one if you use different providers for each), mortgage, heat, etc. When you get paid, put the cash for each bill in its respective envelope. Anything that’s left over goes right into the bank. This way, you’re paying your bills first but still keeping some aside for yourself.
Use cash as much as possible. Undoubtedly,we are a plastic-carrying society. Credit and debit cards are much more convenient, but there’s something satisfying about having paper money in our wallets and using it when we buy something. Using cash is an easy way to control your spending and wean yourself off of your credit card dependency.
Clip coupons. The Sunday edition of any newspaper is traditionally a goldmine for cost-conscious folks who are looking to save a few dollars on their next trip to the grocery store. Take a few minutes to look through the coupon inserts and see what you can use. This can also help you put together a grocery list for your next trip.
Buy on sale. Our grandmothers would spot an item in a department store, but hold off on buying it until it went on sale. It might take months, but no one was happier than Grandma when she bought her new coat at fifty percent off. Scour clearance racks, after-holiday sales, and going out of business specials to get some great, guilt-free deals.
Roll your change. Your dad or grandpa probably made a ritual of this on a particular night of the week. Collect any spare change from your pockets or what you find laying around the house and stack it up. You can buy coin rollers or get some from your bank. All of that loose change can add up to some decent cash. If you don’t have the time or patience to roll your coins, take it to a kiosk like Coinstar at your nearest grocery store and cash it in.
©2009