Advice on money-saving strategies abound. It’s well known that cutting back on non-essential purchases such as daily lattes and packed lunches can result in significant annual savings. But what if even after squeezing those pennies, your budget is still strained? Here are some tips for you.
Invest in a Freezer: Many people fail to capitalize on great deals on meat and cheese due to insufficient freezer space. An investment of $200-300 in a medium-sized, energy-efficient freezer can offer immediate payback. Stores often discount their meats by 50% or more as expiration dates approach. Having additional freezer space lets you take advantage of such deals, skip buying meat for a couple of months, and substantially reduce your grocery bill. Remember, freezers can stock more than just marked-down meats.
Install a Dual-Flush Toilet System: It may not be obvious, but daily bathroom routines can waste a considerable amount of water. Roughly 3.5 gallons are spent per flush, which can add up quickly. Many stores including Costco sell dual-flush conversion kits for less than $20 (note: complete dual-flush toilets are also available at higher prices). This system uses a half flush for liquid waste and a full flush for solid waste, which results in significant water savings. Although it might take some time for the cost benefits to be noticeable, every dollar saved counts.
Make Your Own Household Cleaners and Detergents: It’s easy to dismiss the cost of a $3 glass cleaner, but over the course of a year, cleaning expenses can rack up to more than $600, according to the Bureau of Labor Statistics. Start by swapping out single-use items like mop heads or dusters for reusable ones. Following this, create your own cleaning products using readily available recipes. Although many are based on vinegar, vodka-based cleansing solutions are also an option. The initial outlay for ingredients and reusable spray bottles may seem high, but each cleaning mixture costs less than a quarter and lasts for upwards of a year.
Lastly, consider making your own laundry detergent. Numerous recipes are available, with my preferred one including equal parts Washing Soda and Borax, and a quarter part Oxiclean. The whole recipe costs about $18 and lasts for one to two years considering you’d only be using a tablespoon of the blend. Imagine spending only $9 annually on laundry detergent?
Rethink the way you perceive everyday costs, as there are numerous unexpected opportunities to save money. Even a $20 bill reduction per month can lead to a nice sum over time. Why pay more when you don’t need to?
