Savings Saturday! 20 Simple Ideas To Make Your Money Go The Distance!


Are you trying to increase your nest egg for retirement? Are you already putting money away into savings or a retirement account on a regular basis, but you know you could be doing more?  Or maybe you are living on a tight budget and you just need to find ways to make your money go father. Making simple changes to your lifestyle choices can make it easier to save more.

  1. Volunteer at a theatre. Often they will allow you to go in and watch the performance in-between your volunteer responsibilities. Check with the local theater in your area to see if they have this type of program. This way you provide a service and get to see a show for free!
  2. Reduce the number of times you eat out each month. Homemade food always tastes better than restaurant food, you know the ingredients are fresh and you don’t have to leave a tip!
  3. Party the old fashioned way. Have a potluck! Putting on a full-blown party can add up quickly in the cost department. Ask everyone to bring a dish to share and the beverage of their choice.  Everyone enjoys contributing to the event and feels part of the community. It’s a win-win!
  4. Skip the brand name foods and household products at the grocery store. Private labels products are generally made by the same manufacturers as the well known brands, but cost less.
  5. Save on gas. Combine your trips to run errands with other appointments. If you are close enough to walk to shopping, work or your volunteer activity, well, why not walk and get some exercise at the same time?
  6. Shop around for the best gas prices. Some gas stations offer a discount for paying cash or using a debit card for your purchase rather than using a credit card. Some grocery stores have an associated gas station and using their loyalty card will provide you an additional discount, and some of the big box stores have pumps with good prices right outside in their parking lot. But weigh the distance traveled to get the best price against the amount you would be saving. Check out the phone app, GasBuddy to find the cheapest gas on the go.  The prices shown in the app depend on a community of users updating gas prices, so I am not sure how current the information always is, but it’s worth checking it out.  It’s free!
  7. Go the inexpensive route when cleaning your clothes. Do it yourself vs. using a laundry service, and make it easy on yourself and buy the no-iron shirts.
  8. Shop at the outlet mall. If buying clothing in thrift stores or garage sales (some of my favorite items came from there!) are not for you, then find a local outlet mall near you. They carry brand names with greatly reduced prices.
  9. Get the basic cable package for your television viewing.  Many weekly TV shows can be watched on the computer the day after it airs on TV and some movies can be watched. Netflix can provide you the ability to watch movies with money left in your pocket. Cheaper than going to the movie theatre! If you like the idea of saving a few bucks a month then basic cable may be well worth it to you.
  10. Wait for the latest movies to come on TV, rather than heading to the theatre.  But if you do go to the movies, take a snack in with you.  The prices of food at the movies is out of this world.  OK, so you aren’t supposed to take your own snack in, so if you do get caught, don’t say you got the idea here!
  11. Skip those fast food chains. Although you may think that they save you money in the moment, a cheap meal on the run now can, in the long run, because of the lack of nutritional content and high fat and sugar content, be the cause of an increase to your medical expenses. Be smart. Eat well.
  12. Have snacks with you at all times! This will keep you from running to the fast food restaurant, local coffee chain or convenience store to buy something that won’t satisfy and isn’t good for you. Bring along a travel mug or jar with water, coffee, tea or juice when you head out for the day. A piece of fruit and a bag of chopped veggies, nuts, trail mix or granola will come in handy for those moments when you feel hungry.  Think picnic!
  13. Get a roommate if you live alone and if you have the space. Think of the savings on rent or mortgage payment and utilities and the potential fun! Golden Girls anyone?
  14. Learn what days and at what stores they offer senior discounts. Even the thrift store in my town has a senior discount day. Most shopping discounts for seniors are during the week.
  15. Do it yourself. Using a lawn maintenance service? Start mowing the lawn and weeding yourself. It’s great exercise and you will save a pretty penny.
  16. Sign up for those online sites that send emails of discounted services and activities in your area, such as Groupon, LivingSocial, and Amazon Local, to name a few.
  17. Be careful of the “it’s on sale, so I have to buy it” mentality. If you don’t really need it, then is it really a savings?
  18. Reducing the temperature on your thermostat in the winter just a few degrees can cut down your bill each month. Remember to weatherproof your home by caulking holes and cracks and replacing old weather stripping on the doors, if needed, before the cold weather hits.
  19. Skip the bookstores and head right to the library.  Books are expensive and the library is free.  It’s easy to see that this is a huge savings for rabid readers.
  20. Don’t window shop. It seldom works out well in terms of saving money. Don’t wander around a mall just to kill time.  Head to the mall only when you have something you need and that needed item is on your list. That way temptation doesn’t creep into the saving equation.

This is just a starter list.  Take some time to look at your lifestyle, your monthly expenditures, shopping habits and entertainment choices.  Ask yourself, is it important that I have more in my retirement account or savings as I move into retirement or now that I am living on a limited budget?  If you deem it important, then make the choice, make the change, and save some money!

What have you done to reduce your monthly expenditures?  Was it hard to make those changes?  What made it easier?  What other things have you done to cut costs?   Please share in comments below.

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2 comments

  • Anonymous I agree, donating to causes that reflect your values is important. Living on a fixed income can sometimes make it difficult to give the all the causes one might want to even if they do match one’s values. Another option to giving money could be the giving of time. Volunteering for a cause is equally valuable as a donation. Thanks for your comment!

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  • Retirement seems to come with a lapel badge that says “hit me up for a donation so my soft heart will feel full”. Got to reassess the causes to which you donate your well earned savings and that they truly reflect your values.

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