10 Ways to Pinch Pennies

As one-half of a young student couple, I’ve learned a thing or two from stretching our dollars so we never have to live check-to-check. Here are the easiest, most effective tricks I know:

1. Walk more, drive less: Earlier this year, my husband took our car to a job out-of-state and I was stuck without a car for a month. I walked to school, the grocery store, the bank, and a bus stop a few blocks away to get to work. We didn’t save money because the car was still being used, but I realized what money pits cars are and that I could live without one if I had to. Trading your car for walking shoes saves on gas and wear and tear, but selling the car means no loan or insurance payments, no maintenance or registration expenses, and could also bring in some cash. So if walking more or even selling a vehicle in an option, do it.
2. Budget! Trying to save money won’t do much good if you don’t have a goal. For a month or two, keep a record of every penny you spend, and then add it up at the end of the month to see how much you spend on gas, food, housing, etc. Can you shave expenses anywhere? Decide what you can cut back on and set a realistic budget then stick to it. If that doesn’t work, try using cash for things like groceries, entertainment and spending. If you run out of cash, you’ve used that portion of the budget for the month.
3. Hit the library. Forget about piles of musty, outdated books. The library is the place to go for community events, children’s books, movies and exercise DVDs, free internet, CDs, magazines, and books on any subject or hobby that interests you, and it costs about one dollar for a card. The library is the best bargain you will ever find.
4. Cook at home. Restaurant meals are usually grossly overpriced for what you get. Instead of eating out three times a week, try cooking quick, delicious meals at home instead. Dig out the crock pot and put it to work, and stock up on inexpensive staples like eggs, vegetables, and gluten-free pasta. These foods take only a few minutes to prepare and cost much less than takeout.
5. Have a soup night. Swapping a pricey homecooked meal for a cheap one every week can painlessly whittle your grocery bill. Soup is cheap, healthy, and a great way to disguise those leftovers no one wants to eat. Boil a pot of water and throw in some vegetables, leftover rice and the last shreds of last night’s rotisserie chicken and a few spices and you have dinner.
6. Attend community events. Instead of blowing twenty bucks on a date at the movies, check the newspaper for local concerts, theater matinees, art galleries, and fairs. These functions are usually cheap or free and you can get to know your date better than you would sitting in silence in a dark theater.
7. Pack a lunch. Do you hit the drive-through or local deli every day on your lunch hour? Packing a lunch instead of grabbing takeout can easily save you a hundred dollars a month. Eew, does this mean you have to eat leftovers? You can if you want, but if that’s not your thing, a simple gluten-free wrap or salad with leftover beans or chicken will do the trick. Bonus: Brown-bagging is almost always healthier than fast food, so as the number in your bank account inches up, the number on the scale may inch down.
8. Try the every-other rule. Say you stop for a latte every morning before work, and each one costs four dollars. If you work five days a week, you’re coffee habits sets you back twenty dollars a week, eighty dollars a month. Instead of stopping every day, try going every other day for forty dollars back in your pocket. Get your nails done every month? Cut back to every six weeks.
9. Cut hair at home. It’s not as hard as it sounds. I rarely get haircuts, but by cutting my husband’s mop every few months, we save around sixty dollars a year. Check out a book about haircutting from the library to get your bearings or do what I did: trial and error. A few minor bald spots later, I can give him a nice cut in about twenty minutes.
10. Control impulse buys. You run to the grocery store for milk and you leave with the milk and thirty dollars of other stuff you never intended to buy. Are you nodding your head right now? Never go shopping without a list, and stick to it, no matter what. If you see something on sale and simply have to have it, take a Ten Second Timeout. Really think about why you’re about to buy this. Do you need it? Will you use it? Are you just buying it because it’s on sale? If you still want it, go ahead and get it, buy don’t just scoop something up on a whim.