Little Things that Save Big

EVEN THE MOST FINANCIALLY comfortable cringe at the cost of. . . well, everything lately. Groceries, gas, utilities — you name it, it’s expensive these days.  

There are countless small things anyone can do to help cut costs. Following are tips from everyday people about how they’re making it happen.

CUT the fat

In the course of a month, it’s easy to lose sight of where your money is actually going. To help get grounded, scan your bank statement with a critical eye and ask yourself:

• Are you watching all the cable channels you’re subscribed to?
• Are you using that gym membership?
• Is your cell phone plan competitive?
• If you still keep a landline, do you really need one? Some do, but for many it’s an unnecessary added expense. If for you it’s worth keeping, consider whether features like call waiting, three-way calling, caller ID or even voicemail are worth the added cost.

PAY down debt

Maintaining a savings account is important, but the flipside — paying down high-interest debt — can save even more. When current savings might earn 1 or 2 percent, the same money could pay off a debt costing 15-30 percent. The smart money: once a debt is paid off, keep making those payments — now to your savings account. Even small monthly payments add up fast!

ROUND it up

Many financial institutions offer “round up” plans where each purchase made from your checking account sends a few cents or dollars to your savings account.

BAG the Benjamins

At the end of the day, gather your change and tuck it away — in a folder, bag, box or jar. When your change adds up to $100, convert it to a hundred-dollar bill and stash it. Many hesitate to break a large bill, and they add up quickly. You might use your stash for mad money, or to occasionally boost that savings account.

BEFORE making that store run

Digital coupon programs are hugely popular — for good reason. Checking for discounts before a market run can add up to major savings over the course of a year, or even a month. Also, checking the cupboards and fridge and making a list before going can help curb impulse buys.

TAG along

Most of us have things we buy from one market — for price, quality or brand preference — buying other items elsewhere. For staple items desired in bulk, there’s Costco. Don’t have a membership? Tag along with a friend occasionally, or look into a Costco Shop Card.

CHANGE things up

Not everything has to be just-so. For example, rather than going to the movies twice a month, why not go once and enjoy movie night #2 at home with a free On Demand movie with microwave popcorn.

How about swapping that $7 drive-thru coffee for a yummy concoction you made at home?

Also, generic items often mimic the ingredients of higher-ticket products but cost less. Try generics for food, household, personal care and over-the-counter meds.

Finally, for home and apparel, consider discount stores (think Marshalls, Ross, TJ Maxx). You’ll find quality, brand-name clothing, shoes and home goods at significantly reduced prices.

GIMME Gas

Many already take advantage of discounts offered through membership stores like Fred Meyer and Costco. Another way to save at the pump is through sites like gasbuddy.com, which flag the lowest gas prices in specific neighborhoods.

JUST WATER, thanks

The cost of dining out is (sometimes much) higher when it includes a cocktail or even a soda. Opting for water with a slice of lemon can be satisfying both gastronomically and when you get the tab.

PRICE match

Checking current prices at several stores is worth the time; if you find the store most convenient to you has the desired item at a higher price than another outlet, ask for a price match — you’ll often get it.

UTILITY bills

Most utility companies offer plans that average annual use, resulting in a stable per month cost that eliminates price spikes during the hottest and coldest times of the year.

FUN for less

Take advantage of free days at museums and national parks to save on entertainment costs — and ask about senior discounts.

For most, becoming savings-savvy feels better with time — especially as the payoff really begins to show. While some us of didn’t have role models or education in handling money, it’s never too late to learn. And please keep in mind: saving (either through accumulating funds or cutting costs), is best in balance; it need not be an exercise in deprivation. 

For things that bring true pleasure — like dining out, for instance — no need to eliminate it completely. Instead, dine out less often, but by all means treat yourself. When saving habits become routine there will soon be a little extra to enjoy.