Tiny Tips Toward Significant Savings

People are always looking for ways to cut costs, whether it be for their government, their workplace, or their home. Although you may feel you have already done everything possible, you may still have some room for improvement. Sometimes just a few very small changes like these can amount to significant savings over time. Some may be ideas you've heard before, but seeing the actual dollar savings might surprise you.

1. Turn down the thermostat.

If you are going to be gone for several hours or more, set the dial at 55. That is warm enough to keep pipes from freezing and keep plants healthy but can end up saving a lot of money in the long run. The same is true of turning down the temperature at night. Five to ten degrees cooler while sleeping is actually a healthier environment and will result in a lower heating bill. Note that it is a myth that a colder house takes longer to heat up and so offsets any savings; keeping the house at the higher temperature uses up more fuel.

2. Conserve water.

Many municipalities are raising water rates lately, so those little changes we've been being asked to make for so many years are becoming more viable in terms of cash savings. For example, turning off the water as you brush your teeth is estimated to save at least 3 gallons of water (these taps are typically regulated to flow at about 2.5 gal/min). Making sure the dishwasher is full before running and filling the sink rather than letting hot water run while washing dishes are also tips we've been told. Together with taking slightly shorter showers, a household could save 10% off the daily water bill in addition to the savings for the hot water heater and dish soaps.

3. Don't buy prepackaged foods.

A pizza made from scratch costs significantly less than a frozen one, and a frozen pizza costs typically less than half of its fast-food counterpart. If time is an issue, buying refrigerated dough or crust will cost a bit more than making from scratch but will also save the largest chunk of preparation time. Kids often enjoy helping out with such a meal, there is no bickering over topping choices since you control what goes where, and at a savings of approximately $12 per meal for a family of four, it is well worth it. Other prepackaged meal items can have the same or larger percentage of savings.

4. If you do go out to eat, skip the drinks.

We all know that alcoholic drinks are typically overpriced at restaurants and bars. Even bowling alley beer often costs five times what you would pay at a grocery store. But soft drinks are also very overpriced. A can of name brand soda costs 20-25 cents average when purchased in a 12-pack from a grocery store. A glass in a restaurant or a medium soda from a fast food place will probably cost about $1.50. A family of four is likely to save the cost of an entrée by skipping drinks.

5. Be careful what you purchase as a good deal when grocery shopping.

It used to be that terms like "family size" and "value pack" meant a better per-item cost than smaller size packages. Such terms are no longer true. Many stores do print a cost-per-ounce or something similar on the shelf tags; be sure to look at those when deciding if the value size is really going to create savings. The same idea is true of using coupons. If your coupon is for an item you wouldn't typically buy or still leaves the cost of the item higher than an alternative, using the coupon really defeats the purpose.

You won't become a millionaire by using these tactics, but you can save enough to gain some breathing room in your budget or do something special once in a while. They are easy changes that will become old hat in no time, changes that creating savings for the environment as well as savings for your pocket.

References:

Annie B. Bond. "Healthy and Green Living." Care2.com.

GreenerPeople. "Green Tips." Greenerpeople.com.