5 Ways to Save $1000 a Year

I was surfing around Yahoo! Finance a while back and I stumbled upon the article Five Practical Moves to Help You Outrun Inflation, by Jennifer Openshaw, that I found thought provoking and wanted to pass along. The author made the argument that you can save $1,000 a year on each of these 5 lifestyle changes. Some I agree with and some I think are a little exaggerated. With that said, here are the major bullet points followed by some commentary by yours truly.

  1. Make Water Your Beverage of Choice. Openshaw makes the argument that you can save $20 a week on beverage costs if you drink water or juice concentrate. My initial reaction was, “No way. You can’t save that much money!” But then I started thinking about the vending machine at work where a soda costs $1.25 and if you eat in a restaurant, say twice a week, a soda will run you $2 and a small beer or glass of wine is $3.50, the math starts to add up. I already drink mainly water, but I know friends that could easily save $20 a week in beverage costs. Plus, the health benefits of drinking plenty of water are numerous.
  2. Cut Back on Driving. For me, since I live out in the country, this means combining trips when running errands, something I need to get better at. But for those city folk, it means alternative forms of transportation like riding the bus, carpooling, biking, and walking. Depending on your car’s gas mileage, you could easily save over $1,000 a year in gas by doing these things.
  3. Buy Clothes From Thrift Stores. I love thrift stores for threads. Most of my jeans come from thrift or discount stores like Ross. I don’t think I have spent $1,000 for clothes in my entire life, let alone one year! But hey, what can I say, I’m a dude. Recently, I have seen jeans with holes in the knees or paint splattered on them for sale in department stores for a ridiculous price and it always provides a good laugh. Why would anyone pay full price for those when they could doctor up a thrift store pair for pennies on the dollar? I’m not their target market, to say the least!
  4. Get Handy Around The House. Fire the gardener! Fire the housecleaner! Fire the French masseuse! Find time to do these things yourself and you will easily save $1,000 a year. Plus, Openshaw makes the great point that the satisfaction you get from either fixing the toilet yourself or mowing your own lawn is hard to put a price tag on.
  5. Cut Back on Unneeded Services. This one is surely part of the 10 commandments of frugal living! Scrap the excess in your life that does not add to real happiness. The 200-channel cable subscription, in which you actually watch maybe 10 channels. Other things that come to mind are gym memberships, magazine subscriptions, and cell phone packages. I like how Openshaw used the example of the pest control service and asks the question “Could that pest control be done every other month instead of monthly?” It does not have to be an all or nothing proposition. Just look into reducing and the savings will follow.

In keeping with tradition, here are some online coupon codes that may not be able to save you a grand, but can hopefully save a few bucks if you were planning on shopping for something you needed anyways.



Author

By , on Jun 18, 2008
Kyle James Kyle James owns and operate a website called Rather-Be-Shopping.com which specializes in coupon codes for over 750 stores, organized in 25 shopping categories. He also has a blog, where he writes about frugal living and personal finance tips as well as other musings about the adventures and mis-adventures of raising 3 active kids.

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{9 Comments}

  1. Kyle @ Rather-Be-Shopping:
    June 18, 2008 at 6:48 am

    Hi Foxie. Good luck today! Yeah I think I will get the most satisfaction out of taking care of our lawn when my son is old enough to do it!!

    Reply
  2. Kyle @ Rather-Be-Shopping:
    June 18, 2008 at 6:51 am

    One thing I missed on the “Make Water Your Beverage of Choice” is the folks who drive-thru Starbucks on there way to work. $4 milkshakes…..errr, cups of coffee, add up real quick!

    Reply
  3. Foxie:
    June 18, 2008 at 5:45 am

    I sure hope I get some satisfaction from mowing my own lawn, I’ve got no choice now since there isn’t anyone else around to do it and it’s on my to do list for today. :) (I’m probably the only 20 year old on the planet who has, to date, never mowed a lawn. Honest.)

    Reply
  4. "Mo" Money:
    June 18, 2008 at 10:15 am

    Good points that almost anyone can use. You can also brain storm about how you can save money in your own situation. Keep an open mind and find out were you can plug the money holes in your life.

    Reply
  5. Katharine:
    June 18, 2008 at 7:24 am

    I think it is interesting that so many people have gardeners, house cleaners and handymen. I suppose it is just the way I was raised, but it seems very weird to me to have someone else in my personal space like that. My parents always found time to clean/garden/fix whatever was necessary, so I do the same.

    Reply
  6. pinchthepennies:
    June 18, 2008 at 9:49 am

    Thanks for the coupons. The shutterfly 20% off coupon really came in handy today when I ordered pictures from my recent trip the Bahamas. I saved $1.90. Thanks, again.

    Reply
  7. Shelly G.:
    June 18, 2008 at 10:05 am

    I think the beverage thing is really true… I try to pop a refilled water bottle in the freezer to get it all icy and then when I am out I am not tempted to buy something quinch my thirst. Staying hydrated helps keep temptation to buy a soda or tea at bay…

    I also freeze homemade ice tea in an old water bottle until it is slushy… it is really nice on a hot day…

    Reply
  8. Marci:
    June 18, 2008 at 10:14 am

    Well, I think the only think still left for me to give up is the 2 pops a day… and believe me, I’ve been trying :) I found a teabag will make a full quart of ‘flavored’ water – and that’s good enough for variety. Does anyone besides me still get TV only on rabbit ears? haha! (rarely watched) Yes, I know – I’ll need that converter box soon…

    I’ve subscribed to the “Food not Lawns” theory, and by the time I am done putting in my raised veggie/flower beds, I think the lawn mower will be obsolete – the electric weedeater (free from the dump and a repair of the handle) will do the whole yard area. Transforming the old neglected yard has been good therapy, not to mention good exercise!

    Are there people out there who REALLY spend $1000 year on their clothes? Wow!

    Reply
  9. Carrie at NaturalMomsTalkRadio:
    June 18, 2008 at 9:34 pm

    Great tips. Love me some yard sales honey. I filled up my minivan recently with clothing and books from a great yard sale day, spent less than $40.

    The water thing will also help with weight loss. When we drink calories, our bodies don’t respond in the same way as when we eat calories. The “drunk” calories don’t satisfy our hunger, so we end up taking in more calories than we need.

    Reply

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I'm just an average mom, trying to live a frugal life and get out of debt. I write about things that have (and haven't) worked to improve my family's financial situation. What works for me may or may not work for you, and you should always consult a financial advisor before making important financial decisions.

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