Money Saving Tips
Check out these money saving tips as shared by ORNL Federal Credit Union employees. Also, be sure to check out the U.S. Department of Energy's Energy Efficiency and Renewable Energy site that provides homeowners with tips for saving energy and money at home and on the road.
Buy generic when possible.
Cook at home instead of eating out.
Have friends come to your house rather than going out.
Be sure to turn off lights in the rooms you're not in.
Keep your thermostat set on 68 and dress warmer.
Wash full loads of laundry and combine clothing when possible to make a full load.
Buy used vehicles rather than brand new ones.
Invest in a Brita water pitcher to refill water bottles. It saves a lot of money plus helps the environment.
Wash laundry in cold water whenever possible. This saves hot water and energy.
Unplug charges, turn off outlets, or unplug appliances when not in use.
Run the dishwasher only when full.
Keep doors leading to the outside shut.
Clip coupons for grocery shopping and don't buy just because you have a coupon. Only cut coupons you know you need.
Plan meals each week so you don't overbuy at the store or plan according to your pay period.
Don't go grocery shopping when you're hungry.
When you get paid, put all of your money somewhere. Put set amounts in different subaccounts for bills, rent, savings, Christmas/Vacation, groceries, and just money in checking to run on (gas, out to eat, etc).
Whenever you break anything that is a $5 bill or less, put the change in a piggy bank. You'll be surprised how quickly it adds up!
Buy cereal at Big Lots. They have the same name brand items as the other places but its cheaper! (Make sure you pay attention the expiration dates.)
Scan the newspaper sales ad. Many stores, such as CVS, offer cash coupons good towards your next purchase. This really works with soft drinks!
Pay with cash rather than using plastic. You will spend less if you actually see what you are spending.
During the winter months, after using the oven, keep the oven door open to heat the room.
Buy things new or used on Amazon.com or eBay. The prices are generally about half of the store price.
Payroll deduct from every paycheck into a special savings account. Its easy to save when you don't miss the money.
Seal all doors and windows to make sure air doesn't get out.
We limit our children's TV time to 30 minutes so that the time we spend with them requires no electricity
Our kids are small enough to all take a bath at the same time.
At the grocery store, visit the meat section first and see what's on sale. If it's a good deal, buy in bulk and build your meals around those meats.
Make only one grocery visit per week to save on gas.
Brown bag your lunch once per week to save an average of $5 per week. This would save $260 per year!
Lower the thermostat as you leave the house for the day so that energy is not wasted while you're not home.
When dining out, drink water and order a nice, medium-sized meal to share, then pick up ice cream on the way home for dessert.
Dry loads of clothes one after another. This keeps the dryer from cooling off and having to reheat.
During the winter months, open blinds/curtains during the day to take advantage of heat from the sun. Close again when the sun goes down to hold in heat.
Shop for clothes at the end of the season for the next season. You will find retailers take large markdowns at the end of the season to clear out merchandise for the coming season.
Wrap your water heater in an insulation blanket to make it more energy efficient. If the water heater is in the basement be sure it is not sitting on a concrete floor. Wrap the first five feet of pipes coming from the water heater in piping insulation.
Instead of drying your clothes in the dryer, put up a clothes line in the summer and buy a hanging clothes rack for the winter.
Look for things on the clearance rack first.
Instead of going out to see a movie, rent one for a dollar at Walmart's Red Box. Pop some popcorn in the microwave.
While washing dishes use a dish pan to rinse instead of constantly running the water.
Keep your tires rotated, aired up, and oil changes up to date.
Ride with the windows down in the warmer months instead of running the air conditioner.
Use energy-efficient light bulbs.
Burn firewood instead of using the heat.
Call your phone/cell phone company and eliminate all unused features (the appropriate number of minutes, etc.)
Reject offers for insurance coverage you do not need.
Do not "top off" your gas tank Fill up only when you get low on gas (less weight in the tank means better gas mileage).
Learn how to say no to yourself.
Make a budget and stick to it.
Get a roommate and split the rent/utilities/mortgage payment.
Use internet service and computer service at the library instead of having a home computer with internet service.
If you're taking a trip, book flights months ahead, it can save up to 50% off of your airfare.
Do all of your errands on a preset day so you can save gas.
Go to a beauty school to get any beauty services done.
Learn to distinguish between a want and a need.
Run dishwasher and washing machine in the evening after the sun goes down. If you have a programmable machine, set it for later in the evening.
Watch for pharmacy coupons that offer gift cards for transferring a prescription. The gift card generally more than covers the prescription cost plus you have money left for shopping.
Go shopping with friends and buy in bulk at stores. Divide the products and price between each other.
Use grocery store bags to line trash cans.
Purchase two half gallons of milk rather than one whole gallon. This usually saves me a lot!
Invest in a front load washer and dryer as they use less water.
Set up a special savings account with its own debit card just for fuel purchases. This allows you to monitor your gas usage.