The following 10 painless ways to save money tips may help you trim expenses without compromising what’s really important :

10-painless-ways-to-save

1) If you are carrying a balance on your credit cards from month to month, put them somewhere other than your wallet. Take them to the bank and store them in a safe-deposit box . The cards are still available if you really need them.

2) With some credit cards, charging large purchases at the beginning of a billing period and then paying off your debt at the end of your grace period allows you to borrow interest-free. A $3000 purchase carried this way over 50 days could earn you $25 in a money-market fund paying 6%.

3) Try putting broken mechanical or electronic devices – even televisions – into storage and doing without them. you may find you don’t miss them.

4) See if you can get the job done with smaller amounts of toiletries. try a dab of toothpaste instead of a three-centimetre bead, and only lather once when you shampoo your hair.

5) About 90% of the cost of washing clothes goes into heating water, and a large load of wash can require 150 to 190 litres. Try cooler temperature settings. With modern detergents you’ll get all but the filthiest clothes clean with the warm/cold cycle. (For laundry such as linens, dish towels and undergarments, the hot/cold cycle should still be used.)

6) Much of the pleasure of dining out is its entertainment value. Try having dinner parties where everyone brings a dish, or get the whole family involved in creating a “restaurant night at home” with special food and decorations.

7) Go over your insurance policies to be sure you are paying for protection only against large or disastrous losses and not against small risks you can afford to pay out-of-pocket. Comparison shop to be sure you are getting the best price for the coverage you want. Don’t overinsure: part of your home’s appraised value is the value of the land, which doesn’t require insurance.
8) Get a handle on your food expenses first by knowing a good price for commonly used products. (In my experience about a fifth of the items highlighted as supermarket specials are actually listed at regular prices.) Then when you see a real sale, you can stock up.

9) Give your home an energy-efficiency checkup. Turn down your water heater to 46 degrees, which is the temperature recommended by the US department of Energy. when the weather turns hot, cool your home only to 25 degrees, not 20 – you will have substantial savings. If you live in a area affected by cold weather, check your home for leaky windows and caulk them. This will allow you to turn down the heat.

10) The best tip of all. Write this on an index card and post it on your refrigerator door: “Want what you have and you’ll always have what you want.”

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