Little Ways to Save Money

If you have a big savings goal or are working to pay off debt, it feels great to put a large amount of money toward your goal. However, even small amounts of money make a difference over time. This post is going to talk about little ways to save money that can help you reach your goal.

Become a math nerd.

One of my favorite grocery-money savings examples is the great bagel vs. oatmeal debate. Where we live, a package of six good bagels is around $3.00, or $.50 per bagel. If my family of four were to eat bagels twice a week, we would use 32 bagels per month. It would cost $16.00 to buy those bagels. I buy oatmeal in bulk for $.69 per pound. I can make ten servings of oatmeal per pound. So for the month, eating oatmeal twice a week would cost slightly over $2.00. The $14.00 difference is a significant savings.

To me, this kind of math is fun. We still have bagels occasionally, but more often choose the less expensive (and healthier) oatmeal.

Do this math for things you would like to save money on. Are you are a soda pop drinker? Then consider the money you would save if you switched to drinking water more often.

All the small amounts of money you find by being a math nerd can add up to a decent amount to put toward your goal.

Think about what else you could do with money you’re about to spend.

My daughter equates the cost of things to how many diapers the money would buy, as the two grandbabies are both in diapers. “Yeah, but for the cost of that shirt, I could buy a whole package of diapers!”

In my case, the amount we would spend on an extra restaurant meal instead of eating at home could buy a tank of gas for the car, or most of the beadboard for the backsplash I plan to put in the kitchen.

When money is tight or you’re working hard toward a financial goal, it is useful to think about making trades between things that would be nice to have or fun to do with more practical things. Of course, you should buy the things you truly need and it’s also nice to treat yourself occasionally if you can. But it can also be rewarding to make choices you know are helping you reach your goals faster.

Again, those small amounts saved over time can add up.

Make your own and DIY stuff.

Another way I love to save money is by using make-your-own recipes. Many food items that can be bought at the store can be made at home for less money. Do a search for something that you’d like to try: baking mix, taco seasoning, Shake-n-Bake, spreadable butter. Often these items can be made with less fat or salt, and fewer preservatives than the store-bought items.

As far as DIY stuff around the house, I know not everyone loves to do projects like I do, but if you’re inclined, YouTube is a great resource for learning how to fix things. If you’ve got a leaky faucet, see if you can repair yourself rather than buying a new one or paying someone to come and fix it.

Also, I cannot express the value of getting to know the folks at your local hardware or home improvement store. If you can connect with the right person, it’s like having a wonderful teacher. Grampy and I often get advice from the people at our local hardware store for plumbing repairs, and we have a friend at our local big-box home improvement store who can answer any electrical question we may have. As a bonus, he also likes to talk about gardening stuff with me.

So, my advice is: ask questions, give things a try, and you might save some money!

What to do with the money you save?

The answer to this question is going to be different for everyone. You might be in a situation where you need to save every penny you can on groceries just to make ends meet. If, like me, you’re working to pay down debt, you could put those little bits of extra money toward a bill. I often make small payments to bills in the middle of the month if I have extra money. This way, it doesn’t hang around and get absorbed into the normal spending. Or, those extra dollars can go hang out with their friends in your savings account or emergency fund. The important thing is that you do something with it. You worked hard to save the money, so make sure you use it well!