13 Small Savings that Make a Major Impact

Trying to stick to your budget? Here are 13 small savings ideas that make a major impact.
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13 Small Savings That Make a Major Impact
We’ve all heard this advice before: if you want to save money, you need to cut back on spending, save your receipts, and balance your budget on a regular basis. While this is sound and practical advice, it’s not as easy as it seems. So whether you are saving to buy a new home, saving for a great vacation, or just trying to add to your “emergency fund,” the following areas will help you to identify senseless spending:

Save with DIY landscaping. Do your research, and landscape with plants that require little maintenance. Use a barrel to collect rainwater, and use it when watering your lawn.
Create visual reminders. Create a visual reminder for things, like debt or the cost of something you’re saving for. Seeing these numbers on a regular basis will help you commit to cutting back.
Keep lists. To cut down on groceries, make a list. Use this same strategy when buying clothing to decrease spending and ensure you buy what you need, rather than what looks good in the store.
Eliminate paper. Instead of buying paper towels and napkins, opt for dish towels and cloth napkins.
Lower utility bills. Close closet doors so you don’t heat or cool unnecessary spaces. Challenge yourself to only one month of A/C use in the summer, or use your fireplace during colder months so you can lower your heat. Install things like ceiling fans and light dimmers for an economical and environmental impact. Cut out your landline; bundle your home, phone, and internet for a cheaper price; or consider cutting your cable. There are many alternatives that will allow you to continue watching your favorite TV shows and movies for a lower monthly bill.
Plan out everything. Planning your weekly meals will help you eliminate dining out. Plan for and balance your monthly entertainment activities to avoid overspending.
Avoid bank fees. Total the amount of fees you’ve incurred over the past six months to a year (including ATM fees), and consider changing accounts or even banks to eliminate unnecessary costs.
Shop smarter. Making a grocery list is a no-brainer, but many grocery store websites now allow you to create a list online and will give you a total for all of your purchases. This method allows you to make substitutions when necessary, and stick to the sales, as well as your budget. And, when you’re trying to cut down your grocery bill, cut out the meat. Even if it’s only one day per week, it will have an effect on your overall spending.
Balance entertainment spending. Everyone needs to blow off steam, but there are many savings sites out there that can help keep expenses down by offering deals or coupons.
Cut back on transportation costs. Carpooling to and from work, even if only for one or two days a week, can save a lot on gas and car maintenance. Pick a mutual location, and invite as many coworkers as you can.
Do the math. Everyone knows that it’s far cheaper to BYO coffee rather than stop for a cup on the way to the office, but don’t believe that single-cup, at-home coffee machines are more economical. To really save, stick to a good, old-fashioned pot of coffee.
Break your piggy bank. This may sound more like advice for college students, but the effects will surprise you: save your loose change! Clean out your car, gather change from the bottom of your purse, and check your pockets. Designate a jar, and don’t cash it until it’s full.
Reconsider your necessities. If you are accustomed to getting your hair trimmed every six weeks, push it out for eight or ten weeks at a time, or trim it up yourself. The same applies to pet grooming. Ask yourself, “Is this a want or a need?”
Whether your saving up for your first home or a home renovation, budgeting doesn’t have to be a burden. Start right in your home with these 13 small savings, and audit your energy costs as an easy way to start saving for any project, large or small. When saving for a home, there are certain steps to follow that we’ve outlined in our roadmap to homeownership that can make the process easier for any first-time home buyer.

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