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Moms may have always said that those well-timed stitches were all about saving extra work - but proverbs aside, they could also save you money too. Not every change that you make to improve your finances has an immediate payback – some will take weeks, months or longer to earn their keep. But that's not a reason to shirk a little forethought in your quest to save money. After all it is the long-term savings that build up, and make the biggest difference to your bottom line. So let's run through seven top tips that will leave you richer the longer you wait.
Insulate the house:Heat is energy, and energy is money. So when your house is cooling, your money is flying out of the window. Stop that from happening with lagging of hot water tanks and pipes, caulking of your window frames and extra insulation up in the attic. This will seal in the heat nicely so you'll be able to keep the thermostat down lower. And it'll be nice to know that your dollars are being kept indoors whilst keeping you warm.
Take the pedal from the metal:The cost of gas is unlikely to be heading anywhere close to cheap for the foreseeable future. So make those dollars in the tank last longer by taking it easy on the pedal. The less you accelerate, the more gently you break, and the lower your speed, the better – both for your wallet and the planet.
Plant a seed:Food hasn't always come from the grocery aisle. If you have some free space that is open to the sun, then you can grow some of your own food from seeds. It'll take some tender loving care, and a few months waiting – but the more salads, herbs and vegetables you can grow yourself, the less you'll be spending on the weekly food bill.
Fix the leak:What leak, you say? It doesn't matter- whether it's a leaky faucet or an oil drip from your car, it'll cost you more the longer it's left. Take time to find the cause, and see if you can't fix it yourself for a little expense. If it needs the attention of an expert, ask neighbors, friends and families first. A favor owed is a future favor gained.
Go for energy stars:When you find that your appliance, whether TV, computer or washing machine is really beyond repair, you'll need to go shopping for a replacement. But rather than putting the looks or brand-name at the top of the list of features, look for EnergyStars. These are marks that indicate your new appliance is energy efficient as certified by the EPA. Remember energy is money, and when your home is stacked with EnergyStar rated products, it can only shrink that utility bill.
Accelerate your debt draw-down:Debts are a money drain- they suck wealth out of the household budget. So avoid debt where possible. But once you're stuck in it , you really need to get out as with all due haste. The quicker you pay off debts, the less interest you'll be paying on the loan – and the sooner you can start saving again. So try and pay back more than the minimum, so that you can cut loose that burden faster.
Saving money:This is the holy grail of long term stitch-saving, and money-saving too. If you can cut expenditure, across all other fronts, by as much as possible, you'll hopefully have money to put aside. Place it in purchasing CDs (Certificates of Deposit) and it'll earn a dividend interest. The longer you save, the more it builds up, and the more interest you earn. Success breeds success, as your mom might say.
This is a guest post by Edward, who writes about online applications and freeware reviews at BestFreeOnline.Net.
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