Sunday, August 15, 2010

Money Saving Tips #4

I woke up inspired today to attempt a buisness in my town even if its a few years down the road. I have to get myself financially ready first before I take on a responsibility like that. Here are some things I do to pinch pennies and to help me attempt to keep my savings account and have my dream goal - a buisness.

Un-Paper Towels:

What is that? Well I spend alot of money on paper towels and go through them like crazy! I decided to buy a set of washclothes for $3-$4 at Walmart and put them in my drawer in the kitchen for easy access. I use them for napkins, spills, cleaning rags and really saves me money. "But that causes more laundry!" Really doesn't. I just grab the used ones (I have a hamper hanging on my basement door) before I go to my washer/drawer and throw them in with my clothes. They are small and really do not take much space and saves me spending $2-$5 a month on replacing the paper ones. That saves me roughly $60/year and possibly more because who knows how much more I'll go through with a baby on the way. It may not seem much - but really does help and helps on trash accumilation!

Water Conservation:

I now have a new bill I never had in my life and that is a water bill! To save money I put a spagetti jar full of water in my toilet tank to save that much water per flush. I tried two jars but did not have room. You can do the same with a 1/2 gallon jug (that you had for milk) and fill it with rocks or water and save that much per flush! I take shorter showers and I have two rubbermaid tubs for dishes (one for wash and one for rinsing) and fill them up halfway. I have deep sinks so that will save me water as well since I have to hand wash dishes. As for laundry I only do it when I have a full load. Currently I do it every 3rd day and have 1-2 full loads. I put it on cold/cold to save me electricity and really warm water gets them no more cleaner than a cold wash. Now when I wash diapers I will do a warmer wash to make sure they are sanitized and on nice days line dry.

How is this affecting my water bill? Not sure - I have yet to get it, but will keep you posted!

Savings Account:

Not really a money saving tip - but a money lesson. Really should start a nest egg if you do not have one already. I have one for my maternity leave and its a blessing in disguise. I need to keep it up, but hopefully next month I can start saving again. You should try to save up at least $5,000 - $10,000 in a savings account. $5, $10, or whatever you can muster a check or month will eventually add up. Previous to moving and getting my bills re-adjusted and unexpected expenses (gotta get a new boxspring!) I saved $200/month. Now my nest egg is about $2500, but really will have to resave it up cause when I go on maternity leave it will be my income. It can be done!! After you get the goal amount - you should start saving for retirement. That is another discussion in itself.

Hope you enjoyed my money saving tips for the week!

I apologize for not writing since April - just have not been inspired lately and been busy!

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