How our money experts save money, #8 in a series

1. I try to consolidate as many errands as possible to save gas.
2. Stop off at the supermarket on my way home from work rather than making separate trips afterwards.
3. Buy only items at the grocery store that are on sale. I cherry-pick the weekly sales fliers for staples sold as loss leaders—cereal, orange juice, meat, eggs, etc.—and stock up, so I never have to buy anything at full price.
4. Buy more store brands, which save me an average of 30 percent over national brands.
5. Instead of nibbling on leftovers as a snack, we save them for a second meal.
7. Buy nonperishable packaged goods in bulk at Costco.
8. Think twice or three times before making any significant purchase. If I initially desire to purchase something, I go away and contemplate it for several days or weeks to determine whether the longing is still as strong. The longer I wait, the more I realize I can live without it.
9. I avoid watching/listening to daily financial news reports because the litany of bad causes aggravations, anxiety, and makes me feel hopeless.
10. At each fill up, I check to see if my tires are properly inflated—leaning toward over-inflation rather than under-inflation—to maximize my mileage.
11. Utilize my vehicle's cruise control as frequently as possible on long trips to avoid speed fluctuations that hurt mileage.
12. Pay bills via online banking to save money on stamps.
13. Summertime: Keep shades drawn during day and ceiling fans running to prevent heat buildup, and delay use of AC for as long as possible.
14. Winter: We have gas heat and rely on natural gas for cooking, too, so our winter Con Ed bills are extraordinary—as much as $700 a month—and that's with the thermostat set to 66. Last year, I lowered the thermostat to 60 and bought two of the top-rated Honeywell electric baseboard space heaters. We put one in the family room where we spend most of our time, and the other in the hallway upstairs, near the bedrooms. We set the heaters to 68 and don't tinker with the settings. It provides decent enough warmth, and when it gets really cold, we toss on an extra blanket.
15. In non-emergency situations, we call the doctor (or veterinarian) first to determine whether an office visit is really necessary.
16. Finally, we go only to movie matinées. Never pay big bucks for prime time. —Tod Marks, senior editor

Do you have an unusual money-saving tip to share? Please post a comment, below.

Comments

[Laura]

As a young professional with a low-paying job in an expensive town, I have found that the most important thing to keep in mind when trying to save money is to save on the expensive, non-discretionary (like rent) purchases. That way, I'm not continually swamped by expensive bills each month. This helps me more than trying to save a couple of dollars here and there.

1. I looked for housing that wasn't any more than 30% of my net income. I used craigslist to find roommates and rented a room in a house through a private owner. This can be much cheaper than renting an apartment from a professional apartment company, and I had more personalized communication with my landlord.

2. Getting a gym membership was necessary to me, so I shopped around at all of the area gyms before signing up to the first high-price trendy gym in town. I found a small gym that had an employee discount with the company I worked for. I saved at least $5 a month by asking about company discounts.

3. When furnishing my apartment, I used resources like craigslist, freecycle, and friends to get free or used furniture. Many items can be found still in good quality, and most sellers are willing to negotiate a lower price.

4. When my friends and I go through our closets, we often find we have plenty of clothes that are in good condition but that don't fit or aren't worn. We gather the unwanted items together and have a clothes-swapping "trash or treasure" party! It's a free (and fun) way to clean out old clothes and add "new" items. I really enjoy wearing the clothes that I get from swapping because they are usually styles I wouldn't have normally bought, but still look great! Any items left over that no one claims we give to goodwill.

5. When I bought a new car, I did plenty of research beforehand on Consumer Reports and sites like Edmunds, so I knew what a reasonable price for a good car would be. I knew that I didn't want to spend more than 10-15% of my monthly income. I also took the time to shop around and haggle, haggle, haggle. Making the effort to work dealerships down a few thousands dollars saved me hundreds of dollars per month, and knowing the max price I could afford helped me from getting lured into a more expensive purchase.

[Jeff Story]

In response to item 13 in your tips to save money ("13. Summertime: Keep shades drawn during day and ceiling fans running to prevent heat buildup, and delay use of AC for as long as possible."), I agree with the tip but you should run the fans only if you are at home. Fans do not cool the house, therefore, running the fans when no one is home is a waste of electricity.

An exception to this is the use of a whole-house fan that blows hot air out the attic vents in the evening which will cool the house (and is less expensive than running an air conditioner).

[Desiree Calamari]

This is a gas-related tip. Doesn't save me any money, but helps make increasingly outrageously expensive fill-ups easier to accept. I now fill my tank when it is half-full instead of just about empty. This way, I feel like I'm paying half of what it costs to fill my tank.

[Kristin]

Save on gas and tire replacement by checking the air pressure in your tires everytime you buy gas. It's also a good idea to check the oil everytime you fill your gas tank.

Removing unnecessary items from your trunk and backseat also saves fuel.

[Russ]

> 10. At each fill up, I check to see if my tires are properly inflated...

Error!!! Only check your tire pressures when they are cold, within about 1 mile of leaving in the morning. Tires heat up as you drive around and that increases the tire pressure which is normal but makes it impossible to adjust them to a value that corresponds to the correct cold tire pressure.