We all want to save money. In fact, the secret to financial success is quite simple: spend less than you make. That is what makes people rich. If only we all understood that in our bones.
But while you are spending less than you make, what can you do with what you save? Put it in the bank? Buy stocks with it? Go out to eat?
The very clever Monetarian has a great idea of how you can invest in the stock market with a very low income and avoid paying a lot of fees. It’s one of those “common sense” ideas that no one really thinks about, and yet it will seem very familiar once you read the story.
The Light Bulbs Blog (I love that name!) wants everyone to change to LED lighting in their homes. Did you know that replacing your other bulbs with LED bulbs can save up to 85% of the cost of lighting your home? That is pretty substantial. My dad always used to go around the house, turning off lights in empty rooms, because he hated to pay the electric bill every month.
If you need to upgrade your yard, such as repair soil damage, then you can save a lot of money by investing in a simple compost bin strategy. The idea is very simple. You take whatever food scraps you do not consume and place them in a special container (you can build it yourself, if you wish) and allow mother nature to convert the waste into soil-enriching nutrients. Compost bin owners say that they don’t have to worry about odors.
There are some other ways to save money through simple home renovations that you can stretch out over time. Some not-so-simple of inexpensive renovations include updating your appliances, water heater(s), and air conditioning. Modern units in all these areas will save you money.
And then there is the old stand-by of using coupons. Believe it or not. some people cut their grocery bills in half by using coupons so it is definitely worth a try. I think some people fail with coupons because they don’t manage their time well. You have to do some research for coupons to work for you. The major grocery stores try to help you with their Websites so this should be much easier than it used to be.
So those are my cost-saving tips for this month. If you are ever in doubt about how to save money, look around for new ideas. People are always looking for ways to save and sharing great ideas. I have a few more rolling around in my head as I write this. I know I will share more tips in the future.