If you’re looking to save some serious cash, take a tip or two from folks who’ve found ingenious little ways to rein in spending, reduce debt and put a little cushion in the bank:
- Go to YouTube first – There is a YouTube video for just about everything, from how to French-braid your kid’s hair to how to fix a leaky faucet. DIY it before you turn to a pro and keep your cash in your pocket.
- Use the library – Most libraries these days offer a lot more than books, and most resources are free, from notaries to classes to entertainment resources, sometimes even to 3D printers. Check with your local librarian to find out what you can use or borrow there before you put out needless cash.
- Save on detergent – Buy powdered laundry detergent instead of liquid and stop paying for the added water—and use only half the recommended amount, which is perfectly adequate for the average load of laundry.
- Sit on it – Impulse spenders who stumble upon must-have stuff should make it a rule to wait a few days to determine whether the item is really a must-have or just a heat of the moment thing.
- Stop eating out – Taking your lunch to work and cooking more dinners at home can save hundreds of dollars every month, especially if you do your meal-planning ahead, taking advantage of supermarket sales and coupons.
- Overpay your mortgage – Adding $100 or more to your mortgage payment each month will reduce the debt faster, potentially saving you thousands in interest in the long run.
- Sell stuff – Just about every useless thing you own is worth something to someone. If you have a lot of stuff, have a garage sale. Otherwise advertise a few things on Craigslist or a local exchange and pocket a little extra cash.
- Shop used – You might be surprised at the gently used stuff you can find at a local thrift store. Before you shell out for new clothing, furniture, or appliances, check out thrift store shelves—and/or shop the garage sales in wealthy neighborhoods to look for stunningly good buys.
