Saving Is Something You Should Do Every Day

Posted on

Americans have forgotten how to save in recent years.

First, we came to regard the stock market as our piggy bank; if we needed a little spending money, surely we could always sell a few shares of stock or a bit of a mutual fund at a profit. Then, we viewed our houses as money machines that would always provide a surplus of cash on a moment’s notice, since real estate “never goes down in value.”

All that has changed, at least for now. People finally have again realized how important it is to save. After all, thrift was once one of the quintessential American virtues: Just think of Benjamin Franklin intoning, “A penny saved is a penny earned.”

Our ancestors knew what we had forgotten until recently: Unless you save, you cannot make your wealth grow. It’s much easier to tell ourselves that our horse will come in at the racetrack, or that we will win the lottery if we just keep playing 4-7-10-14-36-51, or that some stock we heard about online is the next Google, or that we can simply use our credit cards to buy whatever we feel like today and pay it all back tomorrow…after our horse comes in at the racetrack.

But Benjamin Franklin was right when he wrote: “Human felicity is produc’d not so much by great pieces of good fortune that seldom happen, as by little advantages that occur every day.”


And the biggest of all “little advantages that occur every day” is the simple act of saving money. That, in turn, requires you to become more mindful of where your money goes and why, and whether you are spending it wisely and saving enough.

Here are a few simple ways you may be able to raise your own rate of saving. Each will save you something; together, they will save you a lot.

Drive more efficiently. Driving at 55 miles per hour, instead of 70, will save you the equivalent of roughly 70 cents a gallon, which could easily put hundreds of dollars a year into your pocket.

Before you start your car, get your kids seated and belted and do all your other preparations for driving. This will save you a few minutes’ worth of gasoline usage every day. And don’t idle your car; if you know you will have to wait more than a couple of minutes, turn it off. For more tips, see fueleconomy.gov.

Conserve energy: Set your home’s thermostat to 65 degrees in winter and wear a sweater. Before you go to bed, set it down to 60 degrees and use a second blanket if needed. In summer, set the air conditioning at 70 degrees. Adjusting your home thermostat wisely could save hundreds of dollars annually.

Also make sure your home is properly insulated and that windows, doors, chimney and the basement are properly sealed. Here, too, the annual savings can be in the hundreds of dollars. For more advice on saving on fuel bills, see energysavers.gov.

Walk or bike to work. If it’s feasible, walking or biking, instead of driving or paying for a bus or train, could save you $5 a day, $25 a week, $1,250 a year.

Don’t buy lunch every day. Instead, make and take your lunch to work. Better yet, pull together a brown-bag club with a few friends, with each of you bringing your own food plus something to share. You could save another $1,250 a year.

Cut back on dining out. Take a cooking class. You will acquire skills and recipes that you can use to make better food in your own home than most restaurants serve — and you will be able to make it for a fraction of the price.

According to the U.S. Bureau of Labor Statistics, the typical American household spends $6,133 a year on food, 44% of it on meals eaten outside the home. When you do go out, don’t be afraid to skip an appetizer, share an entrée or split a dessert. Always inquire how much the specials cost. (Specials are typically no better than regular menu items, but they tend to be more expensive.)

Don’t order the second cheapest wine on the list, as many people do to avoid embarrassment. Instead, unabashedly order the cheapest one. It’s usually almost identical in quality.


Quit smoking. With cigarette prices at roughly $5 a pack, someone who smokes two packs a day could burn through $70 a week, or more than $3,600 per year. Smoke like that for 20 years and, if you are still alive, you will have spent roughly $75,000.

Rent DVDs free from the library. Depending on how often you rent, you could save $100 or more a year.

Put your refrigerator on ice. Before you open the refrigerator, pause for a moment to see if you can move several things in or out at once. Every time you open the door of the fridge, you make it work harder. My guess is that a family that becomes more mindful about opening the fridge can save about 50 cents a week, or $25 a year.

Don’t shop on an empty stomach. Walking into the supermarket when you are hungry can make you more inclined to buy food you don’t really need. Eating a light, nutritious snack before shopping could easily save you $ 100 a year, not to mention several hundred calories a week.

Don’t sign up for insurance, service contracts or extended warranties. Avoid the added cost of these extras for appliances and consumer electronics — especially on things like cellphones, which you probably won’t lose or damage and are likely to use for only a couple of years.

Manage credit-card spending. Pay with cash or checks when possible. Credit cards are essential for a few things, such as online purchases, car rentals and airline tickets. But you can do fine without them most of the time.

And ignore the minimum payment on your bill. You should be paying the maximum you can afford. If the minimum payment is $20, but you owe $774.84, see if you can pay $200 (a little more than 25% of the balance) or even $80 (about 10%).

Posted in Banks, How To, Odd News, Odd Stuff & News, Off Topic.

53 Comments

  1. phd thesis database [url=http://thesisbyl.com/]best thesis editing services[/url] thesis only phd <a href="http://thesisbyl.com/#">thesis in writing</a> writing with a thesis

  2. womens viagra [url=http://ajviagra.com/]canadian viagra[/url] does viagra work <a href="http://ajviagra.com/#">viagra online</a> women viagra

  4. how does cialis work [url=http://sjcialis.com/]what is cialis[/url] п»їcialis <a href="http://sjcialis.com/#">cialis coupon</a> buy cialis

  5. best buy research paper [url=http://researchpapersgaa.com/]research paper help[/url] what is the best research paper writing service <a href="http://researchpapersgaa.com/#">research paper writing service</a> research paper writers in india

  6. write my psychology paper [url=http://writemypaperbuyxvv.com/]write my biology paper[/url] write my paper apa style <a href="http://writemypaperbuyxvv.com/#">write my math paper</a> write my paper for money

  7. buy cialis [url=http://jacialis.com/]cialis coupon[/url] cialis coupon <a href="http://jacialis.com/#">buy cialis online safely</a> cialis for daily use

  8. viagra connect [url=http://kauviagra.com/]viagra online[/url] generic viagra <a href="http://kauviagra.com/#">viagra online</a> generic viagra

  9. cialis reviews [url=http://sjcialis.com/]cialis 20 mg[/url] cialis reviews <a href="http://sjcialis.com/#">cialis pills</a> cialis for sale

  10. thesis guidelines [url=http://thesisbyl.com/]best thesis writing services[/url] thesis only phd <a href="http://thesisbyl.com/#">thesis help services</a> thesis proposal help

  12. dissertation express [url=http://dissertationhelpxvf.com/]what is a dissertation[/url] dissertation editor <a href="http://dissertationhelpxvf.com/#">dissertations writing services</a> dissertation assistance

  13. best custom essay writing services [url=http://essaywritingservicefav.com/]good essay writing service[/url] professional essay editing service <a href="http://essaywritingservicefav.com/#">history essay writing service</a> essay checking service

  14. cialis pills [url=http://jocialisrl.com/]cialis coupon[/url] what is cialis <a href="http://jocialisrl.com/#">cialis vs viagra</a> cialis 5mg

  15. i need someone to write my paper [url=http://writemypaperbuyxvv.com/]write my english paper[/url] write my paper for money <a href="http://writemypaperbuyxvv.com/#">pay to write my paper</a> write my paper online

  16. writing essays custom [url=http://customessaywritershb.com/]online essay writers[/url] best custom essay writers <a href="http://customessaywritershb.com/#">top custom essays</a> custom essays for sale

  18. Pingback: pfizer direct viagra 100mg pills

  20. canadian pharmacy cialis <a href="http://cigened.com/">how to get maximum effect from cialis</a> cialis reviews

  21. tadalafil citrate <a href="http://mencialed.com/">cialis without a prescription</a> generic cialis online

  27. cialis reviews <a href="http://ciallaled.com/">generic cialis online</a> what is tadalafil

  28. cheap viagra canada <a href="http://hyitebeviag.com/">what would happen if a girl took viagra</a> buy viagra soft tabs

  29. difference between viagra and cialis <a href="http://joicialviaed.com/">difference between viagra and cialis</a> viagra or cialis

  31. viagra vs cialis vs levitra <a href="http://cigened.com/">cialis vs viagra</a> liquid cialis

  33. what is tadalafil <a href="http://hyivglazcial.com/">order cialis</a> do you need a prescription for cialis

  34. lowest price viagra <a href="http://viasasixyi.com/">generic viagra reviews</a> cost of viagra

  35. purchase viagra <a href="http://menjojil.com/">soft tabs viagra</a> purchase viagra online

  36. natural viagra substitutes <a href="http://hyitebeviag.com/">buy viagra without prescription</a> cheap generic viagra

  39. Pingback: buy cialis

  40. Pingback: droga5.net

  41. tadalafil 20mg <a href="http://pharmaciescegs.com/info-area.htm#">tadalafil</a> cheapest cialis

  42. Pingback: generic viagra 100mg

  43. is there a generic cialis available? <a href="http://impotencecdny.com/info/history.php#">cialis 5mg</a> cheap cialis

  44. viagra pharmacy <a href="http://pharmaciescegs.com/AboutUs.htm#">viagra australia</a> order generic viagra

  45. otc viagra <a href="http://impotencecdny.com/disclaimer.php#">how much is viagra</a> cialis vs viagra

  46. viagra uk sales <a href="http://rxpharmacyvaed.com/anaerobic-exercise.html#">viagra cheapest</a> viagra coupons

  47. cialis for daily use <a href="http://impotencecdny.com/info/history.php#">cheap cialis</a> cialis for daily use

  48. cialis without a prescription <a href="http://pharmaciescegs.com/info-area.htm#">cialis generic</a> generic cialis

  49. cialis vs viagra <a href="http://impotencecdny.com/disclaimer.php#">roman viagra</a> herbal viagra

  50. cialis without prescription <a href="http://rxpharmacyvaed.com/mens-health.html#">buy tadalafil online</a> cialis daily

  51. viagra patent expiration date <a href="http://pharmaciescegs.com/AboutUs.htm#">viagra cheapest</a> generic viagra

  52. buy viagra online <a href="http://rxpharmacyvaed.com/anaerobic-exercise.html#">buy generic viagra</a> viagra sample

  53. buy cheap cialis <a href="http://rxpharmacyvaed.com/mens-health.html#">cialis 20mg</a> cialis soft tabs

Leave a Reply

Your email address will not be published. Required fields are marked *

Human Verification: In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.