If you’re like me, you’re a 26-year-old black guy living with his mom and two younger brothers and spends most of his time looking for a higher-paying job and running household errands. Sucks, doesn’t it? But for the rest of you, even if you’re not much like me, I bet we’re all doing what we can to tighten our belts and stretch the monthly budget further and further. Many professional economists have forecast that things are getting better (although the professionals tend to be full of it only because there’s only two possibilities: get better or get worse — any collection of monkeys or kittens or other adorable animal could make the same predictions at random with about the same level of accuracy). Still, we all know that the person on the street feels an economic recovery much much later than does a corporation or does a guy who sits in a room all day reading reports to give a thumbs up/thumbs down vote at the Coliseum in New York where I presume that The Fed holds death matches and decadent buffets only to determine during the half-hour intermission to decide what to do about interest rates. So with that all in mind (the delayed recovery for average Janes and Joes, not the death match stuff) I’ve put together a handy guide of tips to save money. I’ve personally tested these and can affirm their usefulness and efficacy.
- Cut and style your own hair. Granted, I’m a guy who keeps my hair fairly short. This might not apply to the women out there, but overall I think that one can save a fair amount of money over the year by simply eschewing salons and barbershops and doing what we can with our own hair. The down-side is, of course, that you screw up and look ridiculous, but that’s what wigs and hats and bandanas worn around the head are for. Start of simple, and work your way up. My family saves probably $60 a month because I use clippers to trim down my hair and my little brothers’ hair as well. I don’t go down to the scalp, they’re left with a few millimeters of hair left. It’s still thick enough to look dark and grown out but thin enough that it’s very easy to maintain. And I can give us all a quick run-over with the clippers for free every week, rather than having to wait until a certain time when we really need haircuts.
- Get thee to Hulu. There are reports and rumors that Hulu might become a pay subscription service over time, but for now you can use it however you please. I don’t watch much TV, but I can skip the Digital boxes and all that nonsense for the expanded cable packages on the channels that I do watch simply by going to Hulu. As long as I keep up an internet connection (which I would do anyway) it’s still viable.
- Use Netflix. I don’t know many people who are avid moviewatchers who don’t do this, but Netflix is about the best deal on renting movies that you can get. One monthly fee and rent whatever you want. I used to see people returning them through work mail with stamps, it’s that easy. And now that Netflix has hooked up with the makers of video game consoles, you can stream content directly into your gaming system. If you watch a lot of movies, this is the way to go.
- Play video games. Awkward advice but it’s a bit feasible. I go for used, or otherwise cheaper, “current gen” video games. Not much a buyer of video games when they first come out because they’re pretty expensive, but with a cheap used X-Box I picked up some choice games such as Elder Scrolls IV: Oblivion and Lost Odyssey and Mass Effect. For $60 dollars I’ve had 100s of hours of entertainment. That’s a good deal no matter how you look at it.
- Frequent your local public library. An old school recommendation but if you like reading books and magazines, or even if you want to rent movies and DVDs, the library is a great place to do so. Befriend the folks behind the counter and they’ll look out for you.
- Stop eating healthy. This is something that obviously isn’t for everyone, and the long-term health effects are not good, but to a point the human body is like a car engine. In the short term, if you just put some kind of fuel in it, it’ll get by. Fruits? Vegetables? Yeah, I get them when I can, but in a pinch if I can only spend $5 that day and I don’t want to walk around still being hungry, a $1 chicken sandwich or double cheeseburger can tide me over pretty well for hours. I like apples and oranges and salads but sadly they don’t really fill me up and for the amount of fruits and veggies it takes to get my stomach to capacity I’ll have spent over $5 just on that one meal, still with two left in the day to have to figure out.
- Eat less. Although as money becomes tighter, this won’t be so much a choice as survival adaptation. My basic rule is, I will be the first in my household to go without. So this is more of a personal rule. If you have family that eats a lot, then if you don’t want to overtly tell them not to eat so much, then store food and drink in an out of the way location. Sometimes it’s the mere belief in the (over)abundance of food that causes people to eat that way.
- Grocery shop like you won’t get paid for another 3 months. Use coupons, scope out which stores in your areas tend to sell certain goods for the least, and don’t hesitate to buy the off-brand. I’d only recommend joining store buyer-rewards clubs if it’s not a credit card or if you don’t have to pay dues to join it. If somebody truly wants your business and appreciates you as a customer they should be willing to give you a great deal all the time, not only under specific circumstances. Wal-Mart is a good place to shop much of the time for groceries — their Great Value brand items are routinely cheaper than most brand names and the selection of GV items has expanded to nearly every staple food product you could want. They have comparable or better prices than most chain stores for non-food items, and in general you’ll save a good deal of money every month unless you are part of a Store Club that gives you mammoth discounts.
- Host small socials at your house. I like hanging out with people as much as the next person, but gas prices fluctuate too much and they’re usually a hassle. I often have to figure whether the cost of gas to go somewhere that I’m not earning any money is worth it. You might have to deal with people being on your things a lot, but you can work around that. Have them outside, confine them to a certain room, do as you must. As long as everybody’s aware that you’re not personally footing the bill for a lunch/dinner party this shouldn’t cost you too much.
- Invest in a mini-oven. You’ll see them listed in SkyMall or on QVC. George Foreman grills or Wolfgang Puck cookers, crock pots… all good options. The key here is to avoid using your stove and especially your large oven. That’s one of the single biggest drains on electricity in your house. Cooking without it, as much as possible, will greatly reduce the power bill each month. I won’t talk about unplugging all the appliances before you leave the house or go to bed because that’s good advice for conserving resources but you probably have a lot of appliances and don’t want to have to plan an extra 5-10 minutes at various times throughout the day to walk around plugging everything in/out. If you want, the main things to unplug would be your computer, printer, and television. Smaller things would be any device that requires a charge through the wall. Make sure to remove the charger from the wall, even if there’s nothing plugged into it.
- Thrift stores. In a pinch, you can find usable clothing, bags, shoes, even furniture in thrift stores. And if you’re not a frequent shopper in thrift stores, know that it’s not all old ripped Iron Maiden t-shirts and warped 50s cocktail tables missing legs. Thrift stores have some standards — if they don’t think they could get anybody to buy it, they won’t take it. Besides, even people who have some halfway decent stuff might choose thrift stores, especially if there isn’t a convenient pawn shop in the area.
- Drive smart. Remember to buy gas during the cooler times of day. Drive the speed limit, don’t go significantly above that. Make sure that your tires are inflated. Remove any excess weight from your car. Turn off the engine whenever you anticipate having to have the car sit in one place for more than a minute (perhaps not at traffic lights but anywhere else). Running the A/C and putting down your windows have negligible effect on gas mileage, though if you prefer, you can keep your windows down when it’s not raining. Make sure that you don’t wait until the gauge is on E to fill up — doing so at a quarter tank is better for the fuel injector and it gives you some psychological leeway to look for the best price. And remember that unless your car states that it requires premium, regular gasoline is fine. And don’t fret about buying from small gas stations that don’t advertise any special additives in the fuel — that “Techron” and “Ultimate” stuff is just a gimmick. The gas you buy from any station will pass the same standards for sale, “brand” or not.
If you have any personal tips you’d like to contribute, feel free to mention!
Advertisement
I like number 8! Smart thinking.