How to Save $1000 Each Year

Learning to save is not only easy; it can even be fun. By simply making a few adjustments in your normal routine, you can save $1000 each year and never miss a beat.

Instructions

Difficulty: Moderate

Things You’ll Need:

• motivation
• desire
• strong will

Choose Just One

1. Turn off the cable. You can live without prime time television (or sports). Watch at a friend’s house or the local club instead. Even the a low cost for cable is $50 per month. Cutting the cord will save you at least $600 each year.
2. Start eating in, especially if you have a family to feed. The average meal out will cost a family of 4 around $30. Cooking in place of just one of your normal outings each week will save you over $1500 each year.
3. Shop around. Gone are the days of driving store to store. Now you can compare prices and amenities online. Find the best deal for all the big purchases you have to make (insurance, electronics, automobiles). Savings on the big items can easily add up to more than $1000 each year.
4. Ditch the phone. Either cut the cords of your land line, or go back to the dark ages and be rid of the cell phone. There are very few people who need both these days. Pairing down to one phone will save you around $700 each year (maybe more).
5. Take a hike. Get rid of your car and walk, carpool, or take public transportation. You’ll save on gas, insurance, and upkeep fees which could exceed $1000 without even trying.
6. Do the thermostat hustle. Turn down the heat in winter by just two degrees then turn it up two degrees in the summer. The savings in electricity will add up to $1000 for most people.
7. Bulk up. Shop with a friend and take advantage of bulk sales or buy one get one free sales. Stick to items you truly need and if you have coupons that is even better. Saving just a few dollars each week will add up to $1000 by the end of the year.
8. Pass it on. This is the best tip for people with kids. Share clothes, toys, and other items with other families. A pair of new jeans will cost you $20 any day of the week. If you have kids in growth spurts, you could need new cloths monthly. Sharing hand-me-downs will save you well over $1000 each year.
9. Share with loved ones. Save on water by showering two at a time. It may not save you $1000 a year, but it will be the most enjoyable tip on the list.