Our daughter’s college years are just around the corner, and costs like gasoline, heating fuel, and local property taxes continue to spiral upward. To gain some control—and a bit more sanity—I’ve been tracking our spending more carefully using budgeting software (more on that in future blogs). My husband and I are talking more frequently about money-saving measures and letting our teenager know we’re putting the brakes on some spending. And we’ve taken the following steps over the last six months:
1. Started using the Honda Civic sedan much more than the Subaru station wagon. Savings on gas: Yet to be determined.
2. Raised our auto insurance deductibles (comprehensive and collision) to $1,000 from $500. Savings: $350 a year. I also looked into dropping comprehensive coverage altogether, a strategy CR recommendsfor older cars. Based on the market value of the 2002 Honda, however, I determined my car was still valuable enough to insure.
3. I started doing my own pedicures. Savings: about $20 per visit.
4. Let the cleaning service go. My husband, bless him, is now showing his skills with the vacuum and toilet brush. Savings: about $1,700 a year.
5. Canceled Netflix. We hardly ever used it. Savings: $120 a year.
6. Changed to a less-expensive hair conditioner and face cream. Savings: Maybe $50 a year.
7. Tried hanging our laundry out to dry in the sun. It required a little more work, but the drying time was about the same as with as my dryer, and the sheets smelled great. I don't know how many pennies in energy I saved, but it was a "green" gesture that felt good to do, and the neighbors didn’t complain. (Tip: Putting the wet towels in the dryer for just 10 minutes with a fabric softener sheet appears to make them a little less stiff; I’m still experimenting with the timing on that one.) Savings: Yet to be determined.
8. Told my daughter she’ll get no rides to our nearby high school this fall, unless the weather is really severe or she has a very large project to transport. Savings in time: 20 minutes per day. Savings in gasoline: Who cares? She’s getting some exercise!
9. For next fall, decided to look into a cash-on-delivery heating oil company, rather than the full-service but far more expensive dealer I use now. Projected savings: 30 cents a gallon, or $270 a year.
10. Checked out the local consignment shop. Biggest recent score: Matching Eileen Fisher silk pants and jacket (perfect condition) for $17. Estimated savings over new: $400.
The one thing I will not yet scrimp on is my hair cutter. He is great and worth the premium I probably pay over others at less expensive salons. But I’m spacing my cuts further apart than before. —Tobie Stanger, senior editor
Do you have an unusual money-saving tip to share? Please post a comment, below.
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