10 Hot Penny Pinching Savings Tips for the New Year

Written by B.Denesia   // November 30, 2011   // 7 Comments

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With our wallets hemorrhaging money during the holiday season mydolr.com has put together a list of ways that you can save your money as we enter into the New Year.  There is an art to frugal living.  It is a way of life that you have to commit to.  By implementing ways to save you can position yourself with new healthy spending habits.  Here are 10 ways to save.

 

1. Entertainment for free:

Cut the cable and head to the library.  Utilizing your local library has a multitude of benefits.  If you are looking for a New York Times best seller, or the latest and greatest movie release the library is the place to be.  A membership is free, but don’t be late and end up paying late fees.  Streaming content on your computer will also allow you to cut your gougingly expensive cable bill.

2. Family cell phone plan:

Many if not all cell phone providers offer family plans.  If you have 2 to 5 people on one line you will end up saving on a monthly basis.  Don’t forget to shop around as there are different plans for different providers.  Pick one that suits your situation.

3. Stay healthy:

If you exercise and eat right, your savings on doctor visits will add up.  Healthy food and getting your heart rate up 3-4 times a week will make you feel great and avoid unnecessary medical expenses.  Being active doesn’t mean that you have to go out and get a gym membership.  Put on a sweatshirt and stocking cap and hit the pavement or your favorite trail for a jog.  This will cut out the cost of the gym membership that you probably don’t use anyway.

4. Use coupons for grocery shopping:

There are countless coupons that you can acquire by mail, news papers, or online.  Utilizing each of these resources to gather coupons can increase your savings at the register.

5. Buy in bulk:

When putting food on the table, buying in bulk can save money.  Costco is a great place to get delicious food even organic for a good price.  Even if you are shopping at your local market you can find bulk deals.  Shopping for the month and not buying food again until the pantry is empty is good practice. Finish all, and then buy more.

6. Cook at home:

Not going out to your favorite restaurant and instead cooking at home is another hot habit to get into.  You save a significant amount of money not going out to eat, and you are able to put some love into a nice warm meal for the family.  Not buying frozen foods and actually making it will provide a more tasty and healthy meal.  With sites like youtube.com you can stream how to cook even if you don’t normally cook.

7. Take a sack lunch/breakfast:

If you implement the previous penny pinching tip you can then take your leftovers for lunch the next day.  Along with lunch, if you plan on buying breakfast food that you can take for work, you can cut out the snack food and soda at the vending machine in the office.

8. Stop buying paper towels, use cloth:

Paper towels are a luxury.  But if you really think about it, why not use cloth to soak up a spill, or to wipe down the counter.  Implementing cloth for a substitute of paper towels will save the planet and your pocket book.

9. Shop second hand stores:

Second hand stores are a great resource to find name brand clothes at unbeatable prices.  It may take a bit longer locating exactly what you need, but if you can save 80% it’s worth checking out.  Don’t be scared.

10. Look for items for free:

Freecycle is a community based website where you can look for items in your neighborhood that folks are getting rid of for free.  That’s correct, I said FREE.  When my wife and I were planning our wedding, we utilized this site to check a couple items off our purchase list.  Craigslist.com also provides a free section you can browse.  Free is the magic word when trying to save.

 

Bad habits are hard to break, but in our current economic situation it is a must.  Your savings can add up to money for paying off your credit cards, saving for your kids college education, investing, or retirement.  By incorporating good habits and budgeting cash flow you will see a positive outcome in the New Year.


7 COMMENTS

  1. By Mark Chen, February 23, 1673

    Here are two quick tips that I would like to share. First, if you smoke, quit smoking. Second, cooking at home is a great idea, but even better if you make sure that you don’t buy groceries that you end up throwing out. It’s estimated that the 40 percent of all food produced in the US gets thrown out!~

    Reply
  2. By JohnDough, February 23, 1675

    Finding ways to save is a great pastime for many of us #frugalliving folks. These types of tips and suggestions are what keeps many coming back by to the MyDolr site. Great article.

    Reply
  3. By Mantra, February 23, 1697

    Coupons are another best ways to save money. Apart from the coupons in the newspaper, sites like couponmom.com and couponsuzy.com offer plenty of coupons for daily used products to help consumers bank some money. Thanks for the great tips!

    Reply
  4. By Diane, February 23, 2017

    How about paying off all of your high interest debts?

    Reply
  5. By Heather, February 23, 2759

    Fantastic tips, all of which I employ. I’m going to have set budget for my fun fund this year. I plan to take out the money for the month and put it in an envelope for each week. I can save from one week for the next if there’s something that may cost more. Also no more spendy coffee trips to Petes.

    Reply
  6. By amanda, February 23, 4138

    Coupon Chief is one of the leading online coupon code sites because of its great design and how easy it is to use.
    Online coupon codes are another great way to save money besides grocery coupons.

    Easy one-click savings help visitors save an average of $21 in less than 2 minutes. Using Coupon Chief online coupons can save you big bucks!
    Look for new printables as well.

    Amanda on behalf of Coupon Chief

    Reply

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