Top 10 Money Saving Tips

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The following is a guest post from Joe Lewis. Enjoy!

Top 10 Money Saving Tips

1. Cut the price of your fuel bills

It’s no secret that fuel prices are getting more and more expensive. But that doesn’t mean you have to pay ridiculously high energy bills. That’s why it’s so important for you to keep an eye out for cheaper energy suppliers and compare gas and electricity prices – meaning you pay less!

2. Home DIY

Before spending sky-high prices on home extensions and builder’s fees, turn your creative hand to DIY tasks and save yourself a small fortune!

3. Consider generic goods

Buying supermarket brand-name food can become very expensive, so why not turn your attention to economy foods and cut your weekly shopping budget down to size.

4. Compost your waste

If you’re a keen gardener, you’ll know all too well about the high cost of soil additives. To save money on soil additives, go green and collect all your garden and food waste in a biodegradable box outside your home. Wait a few months and let Mother Nature take its course. You’ll have nutrient rich matter you can use in your garden or vegetable beds for free!

5. Replace your bulbs with CFLs –

It’s no secret that many eco-friendly experts are suggesting that you should change conventional bulbs for CFLs to save on both energy and cost. What you waiting for?

6. Use ceiling fans in the winter

Believe it or not, ceiling fans can be used not only in the summer but also when you have the heat on. Simply, set the fans to move clockwise and turn them on at a low setting. Hot air rises, so the fans help to push down and circulate that air you paid to have heated.

7. Get cheaper broadband deals

Keep your eyes peeled for the cheapest broadband deals available. There are some great deals available, so make sure you don’t miss out on the latest offers. It really does pay to shop around and secure that fantastic broadband package!

8. Consider renting equipment instead of buying

Renting equipment is a great way of saving money! If you can’t afford something then why not rent it and save yourself a small fortune?

9. Late shopping

Get down to your local supermarket and purchase food with “sell by” dates for that day. The reductions are labelled in yellow and you can pick up food for nearly three quarters of the original price!

10. Farmer’s markets

Nothing tastes nicer than scrumptious local produce. With this in mind, buy fresh organic fruit and vegetables at your local farmer’s market that are a lot cheaper than those found in your large corporate supermarket chains and save some serious money.

How about you all? What are the main ways you use money? Have you successfully been able to incorporate any of the tactics mentioned above in to your personal finances? 

Share your experiences by commenting below!

Jacob’s Thoughts – Listed below are my random thoughts as I was reading this article.

  • @ Keeping an eye out for cheaper energy suppliers – This is a good idea, but for most people, I don’t believe it’s possible. This is due to the fact that most of the time, when you move in to a place, the energy supplier is fixed. So, you simply cannot just change. Prices are regulated by the government to prevent price gauging stemming from the “necessary monopoly” the energy companies have.
  • @ Home DIY – Also a very good idea! However, it’s important to know when to draw the line when it comes to your expertise (or lack of in my case) around the house. 
    • For little things though like fixing a light or recaulking something in the bathroom, it can save money to do it yourself.
    • However, if you were to fix something and find out that you did it wrong and that it will cost $10000 to repair, most likely, it would have been cheaper to pay a professional for the job.
  • @ Generic goods – This is one of my favorite ways to save money! I am a big Wal-Mart shopping fan, and I have probably saved thousands of Dollars over the years by buying Great Value brand items. The quality has gotten surprisingly good over the past few years! You should also give them a try!
  • @ Replacing bulbs with CFL’s – Great idea here, and also something that I need to work on.
    • Currently, about half of the bulbs in my house are CFL’s. They work perfectly well and never burn out it seems! 
    • The ones that are the “old type” I’m just waiting to burn out so that they can be replaced.
  • @ Cheaper broadband Internet deals – This is also a good idea, in theory. However, in most of the areas I’ve lived, a specific neighborhood (especially apartment complexes) will have a deal set up for one company to be the sole supplier of Internet and TV/cable. But, it can’t hurt to compare prices to be able to bargain for a better deal with your current supplier!
  • @ Late shopping – I’ve scored some killer deals on bread this way. It works well for me since I buy a lot of bread at once and freeze it for an extended period of time before using it to make sandwiches for lunch at work. It’s not rare to find the prices marked down 50%!

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  1. Used car and used but like new furniture will save maximum. If you save on big ticket items, you save much.
    My recent post The Much Awaited 1st Weekly Yakezie Challenger Round Up

    • I definitely agree One Cent. However, it can be easy to overspend on smaller, but frequently purchased, items as well. Gotta watch the totals on those items as well!
      My recent post Tour de Personal Finance, Stage 3, Posts 27-30

  2. Super Frugalette says:

    I take it a step further and bake my own bread in a bread machine.
    My recent post Pragmatic couponing is the new black…

    • Yummy. Love that idea Super Frugalette! I'm curious…have you ever worked out the per-loaf cost of making your own bread? Wonder if it's cheaper than buying a loaf at the store..
      My recent post Tour de Personal Finance, Stage 3, Posts 27-30

  3. Kurt OKeefe says:

    Don't forget do your own haircuts, if you trust your spouse. 🙂
    My recent post Tax Settlement Company, Or Scam?

    • Great idea Kurt! My hair is really simple to cut (I just use a No. 3 electronic clipper blade guard and cut my hair all around with that), so I just do it myself! Been doing it myself for over a year now! Saved a lot of money!
      My recent post Tour de Personal Finance, Stage 3, Posts 27-30

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