Here are a few ideas for saving money.
- Unplug electronics that are not in use – ‘vampire’ electronics consume an average of $100 worth of energy per year when turned off.
- Low-flow showerheads can save about 2,900 gallons of water per year.
- In winter, reverse your ceiling fan to pull cold air up and move warm air down.
- Lower your water heater temperature.
- Install a programmable thermostat.
- Buy movie tickets in multiples – from wholesale retailers like Costco or from the movie theater’s website.
- Drop cable and subscribe to Netflix, Amazon Prime or Hulu.
- Use the 7 day rule. Whenever considering an unnecessary purchase, wait 7 days and then ask yourself if you still want that item.
- Don’t spend big money entertaining your child. Most kids can be entertained very cheaply with ordinary stuff from around the home.
- Call your credit card company and ask for a rate reduction.
- Drink more water. Staying healthy in any way helps reduce costs.
- Turn off lights before leaving an area. If you spend one minute turning off lights before a two hour trip, that’s equivalent to earning $50/hour.
- Install CFL or LED bulbs. They cost more initially but LEDs use 2% of the electricity of an incandescent bulb. CFLs use about 25%.
- Clean your car’s air filter. This can improve mileage by up to 7% (about $100 for every 10,000 miles). Keep your tires pumped up as well – each pound of pressure underinflated results is about 1% more gas consumption.
- Plan ahead and buy clothing on sale. Off season shopping can save.
- Move in with your parents at any age. (oh no, help!)
AIO Financial is a member of the US Social Investment Forum and specializes in Socially Responsible Investing. To set up a free meeting with AIO Financial (a fee only financial planning firm), please contact Bill Holliday, CFP – firstname.lastname@example.org or 520-325-0769.