16 May 2012

How to Save $1 a Week

When it comes to saving money, you might think that $1 here and there won't make much of a difference. Add up all those single dollars and before you know it you have saved a considerable sum.   Just remember: money isn't saved until it is safely in the bank. Until then it's just not spent so make sure you do put your dollars aside to be banked.

You can save $1 a week by:
• Hang the washing on the clothes line rather than using the dryer – saving $0.65c/load
•  take your morning coffee in a thermos mug – saving $2.50 plus/coffee
• borrow magazines from the library – saving $3.00 plus
• wash in cold water – saving $0.25 per load
• turn lights off – saving on a 60w incandescent light bulb $0.84/hour
• switch to compact fluorescents – saving $0.69/hour for 60w equivalent
• buy petrol when it's at it's lowest – save up to $0.10/litre
• make your own chips – saving $ 1.50/kg
• buy cans of soft drink in bulk from supermarket – saving $1.00/can

You can save $10 a week by:
• Taking your lunch to work just one day a week - save $8
• Have one vegetarian meal a week - save $7 or more
• Cancel the newspaper on weekdays- you can read it online for free - save $6

You can save $100 a week by:
• Using cash - put away the credit cards and stop paying interest on your purchases
• Review your annual bills - insurances, phones, Internet, electricity and gas and switch to a cheaper provider
• Switching from brand name to generic products for the things that don't matter (flour is flour, sugar is sugar regardless of the name on the packaging) and save around $30 a week
• Create takeaway style meals at home and save $25 (or more) a week
   
Not one of these things will cause a major lifestyle change and on their own they won't save you much. But combine a few of them and the savings add up. Remember the old saying "take care of the pennies and the pounds take care of themselves"? In this instance, they really do!

6 comments:

  1. I tried this savings plan and it works, but you have to be firm with yourself and don't make exceptions

    ReplyDelete
  2. • turn lights off – saving on a 60w incandescent light bulb $0.84/hour
    • switch to compact fluorescents – saving $0.69/hour for 60w equivalent


    These figures are nonsense. A 60w light globe uses 60w/hr. If you are charged fifty cents per Kilowatt hour (c/kwh), an above average charge at this point in time, most people would be paying less than 30c/kwh; a 60w light globe uses only three cents per hour. The compact fluoro uses only 1 cent per hour. I am not saying these things are not worth doing, just that they save pennies not dollars.


    On the other hand I would think that the average clothes dryer uses more than 65 cents per load. A dryer is energy star rated to be used just once a week. A 4kg 2 star dryer I just looked up on line was rated to use 281 kwh/yr. That is over 5 kwh/load. At 50c/kwh that is $2.50/hour. At current average tariffs that would be between a dollar and a dollar fifty per load/ hour.


    kj

    ReplyDelete
  3. Credit cards can be excellent especially American Express. We get 3 points for every dollar spent and cash the points in for Fuel gift cards. As long as you pay them off in full every month they can be a great little earner. We have not paid for fuel for st least 6 months. Beat the banks at their own game

    ReplyDelete
  4. AVOID Op Shops - when your budget is TIGHT!
    I was so proud of myself the other day - dropped stuff off whilst leaving purse in the car.

    Was sorely tempted to go in & browse for some long-sleeve winter shirts...............
    Decided I could do without - yet again.

    Love ya, Cheapskates!

    You make me SO Accountable!

    Melinda

    ReplyDelete
    Replies
    1. It's so tempting to pick up a bargain at the op shop isn't it? I've been cleaning out cupboards here and at Mums, and like you I've been doing the "drop off and bolt" so I don't leave with more than I took :) I love my local op shop, everyone is so friendly and helpful, but it's just too easy to suddenly find $7 or $10 gone and more stuff in the house!

      Delete

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