Saving Money

Heather Warlick, Staff Writer

Published: April 27, 2008

Gas prices increase by the second these days, but paychecks seem to stagnate. As the cost of living skyrockets, here are some tips for saving big money.

Save money on gas by taking public transportation whenever possible. Walk, ride a bike or carpool if public transportation isn’t an option. A new air filter in your car and low resistance tires can increase gas mileage and you can save a few cents on every gallon of gas you buy with membership cards at some filling stations. Other stations offer a discount to shoppers who pay cash. And make sure your vehicle is tuned up with fresh oil and aired-up tires to get better gas mileage.

Adjust your thermostat. A few degrees warmer in the summer and cooler in the winter can save you lots on your heating and air conditioning bills. Try an electric space heater or ceiling fans to make up the difference.

Cut out the cable. Cable and satellite television services cost about $65 a month, or $780 a year. Get a digital cable converter box for your analog TV and an antenna and you will get quite a few high quality channels for free.

Rent movies. By waiting until that movie you want to see is released on video, you can save big money. For two people, a trip to the movies runs about $15 just for tickets. Add a tub of popcorn and two drinks to that and you’re at about $25. Do that twice a month and that adds up to a whopping $600 a year. The same movie on DVD rental (for $1 at RedBox locations) with some microwave popcorn and a two-liter soda costs a mere $3.

Quit smoking. You will not only save loads of cash on buying smokes, you will also be healthier, saving on medical bills.

Avoid alcohol. A 12-pack of beer runs about $8. If you buy one case per week, that’s $416 a year. Again, the health benefits can save additional money. Bring your own lunch! Dining out for lunch during the work week adds up like crazy. If you spend $8 each day, that’s $2080 per year. Bring a frozen dinner for less than $3 and you save $1300 per year.

Brew your own java. A latte costs about $4 and lasts about 30 minutes. A bag of coffee grounds can be as cheap as $2.50 and last two weeks. You do the math. Save on energy by plugging all your electronics in to surge suppressing power strips. Most electronic devices draw energy all the time, not just when they are on, so turning off the power strip at night or when you are at work can save quite a bit.

Install compact fluorescent lightbulbs. They last years longer than a regular bulb and save hundreds on your energy bill.

Cut coupons. It’s a tried and true method that can save you megabucks at the grocery store. With food prices going up along with the price of gas, coupons are more valuable than ever.

Frequent the library. Books and magazines are expensive and are usually read once and then get put on a shelf to collect dust. Even if you only purchase one book per month at an average cost of $15, that adds up to $180 per year.

Buy generic. “No-name” brand items like aspirin, French fries, paper towels and frozen vegetables are just as good as their comparable name-brands but at a fraction of the price.

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