Many people find it very difficult to save money. It is possible to save money and accumulate a nice nest egg. There are tons of ways that you can save money. The following are 14 simple things you can buy that will save you money in the long run. You can think of these things as investments and while you could invest your money is many other things the ROI of these items are pretty darn hard to beat.
1. Programmable Thermostat – Manual thermostats cost homes more money than programmable thermostats. When a person wants to heat or cool a room, they usually adjust the thermostat temperature beyond the level they want in hopes of making the house cool or warm more quickly. A programmable thermostat can help save and pay for itself in a few months.
2. Faucet Aerator – Faucet aerators are small devices you can place on the faucets in your house. They reduce the water flow coming out of the faucet by about half. Using faucet aerators will save a typical family of four about 280 gallons of water a month and pay for themselves in less than a year.
3. Low Flow Shower Heads – Replacing regular shower heads with low-flow shower heads can reduce your hot-water consumption while showering by as much as 30%. If you use the shower an average of 30 minutes a day, will save you about $100 a year in twofold savings. Check out Treehugger.com to learn more.
4. Compact Fluorescent Lights – Compact fluorescent (CF) light bulbs cost more than regular incandescent light bulbs, but they use about 75% less energy and last 10 times longer than conventional ones.
5. LED Lights – Light-emitting diode (LED) holiday lights cost a bit more than standard holiday lights, but they use 80 – 90% less electricity than standard lights and last 5 times longer than standard lights. Because of the way they are made, they are also virtually indestructible. In the next couple of years you will see LED light bulbs prices drop and they will soon the light bulb of choice.
6. Sale Items – Anything that you use on a regular basis that goes on sale is worth buying and stockpiling. Following this strategy should get you a from an instant 20% to 50% return on the money you spend. Don’t go overboard, make sure you will be able to use the items you buy. In fact most people could eat for a couple of weeks by just eating out of their freezer and pantry.
7. Rechargeable Batteries – Batteries can cost a small fortune, especially if you regularly use electronic equipment that are “high drain” devices. While initially more expensive than regular alkaline batteries, purchasing Nickel-Metal Hydride (NiMH) rechargeable batteries can save you a lot of money in the long run.
8. Clothes Line or Clothes Rack – If you can line dry your clothes, purchasing a clothes line will save you more than $100 a year over using a dryer. Alternatively, purchasing a clothes rack or two for drying will save you the same amount. Most cost around $20 meaning that you will regain the cost in a few months.
9. Safe Deposit Box – This may not save you money on a yearly basis, but it will save you a lot of money if any type of accident, disaster or robbery takes place. It’ll save you a ton of grief in settling claims since you’ll have all the documentation to take care of anything that might arise. I also recommend scanning and storing documents online.
10. Water Filter – If you are concerned about the quality of your tap water and regularly buy bottled water, purchase a water filter to save you hundreds of dollars over time. A quality water filter will make your water just as pure as most bottled water and pay for itself within months in most cases.
11. Water Bottle – If your going to buy a water filter be sure to buy a couple of water bottles. You can buy a cheap one or spend the money and buy a quality water bottle. If your worried about the BPA plastic there are now a bunch of stylish BPA water bottles available.
12. Tire Gauge – This cheap little gadget can save you a bunch especially with the gas prices today. Next time you fill up gas check your tire pressure and fill them to the recommend psi. Your return on investment in buying a tire gauge could justified in its first use.
13. Water Heater Timer – A water heater is a major energy consuming appliance. Getting a timer will allow you to turn your water heater off and on only when you need it. Get one today and you will notice a difference in your electricity bill.
14. Ceiling Fan – If you use an air conditioner then getting a ceiling fan can keep you cool at a fraction of the price. I also recommend Vornado fans for those that don’t want to install a ceiling fan.
For those of you looking to learn more on how to save money on your electricity bill check out this awesome site by Micheal Bluejay aka Mr. Electricity.
I love this article on 14 (easy) things that we can do to save money. Where else but Mr. Cheap Stuff can you get lifestyle articles about being frugal and the means to save money w/ the info on coupons, discounts, and freebies?
And here are more no-brainer things you can do to save money on gas at the Drive $marter Challenge (www.drivesmarterchallenge.org). You can enter your specific vehicle data and figure out how much money you can save my taking six fuel-efficiency steps. They also provide other fuel-efficiency tips to help you save on gas costs.
I have never heard of a Faucet Aerator before. I posted that tip on my web site http://www.swapsavers.com/ with a link to yours.
Thanks!
Most faucets now have a built in aerator. Most CFL bulbs don’t last 10X as long as incan bulbs due to failures. Today’s high efficiency water heaters do not use (waste) much power… remember that if you let the water get cold it takes a lot more energy to heat it back up than to maintain a temperature.
Clothes lines ruin clothes by sun yellowing, they cost more in replacement clothes costs than they save.
The other ides are good ones but I don’t necessarily think they save money. If you have to spend additional time and/or money now to save later, subtract interest on your money over years and the time spent could have earned more money. On the other hand the ideas are better for the environment.
Thanks Dave for the comments. I have to agree with you on time vs. money. I think we should all go after the lowest hanging fruit when it come to saving money. We can spend hours and hours saving money but we should only go after the big rocks in the beginning.