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How to Save $100 This Week

Posted By Jim On 10/17/2012 @ 7:15 am In Personal Finance | 13 Comments

Since the beginning of time, personal finance bloggers have been sharing ways to save money. Some recommend that you split two-ply toilet paper and other ridiculous ideas [3] while others tell you that pinching pennies is a waste of time (Ramit Sethi carries the banner on this one and I agree with him… to a certain extent). The reality is that there is a middle ground. There are plenty of very easy things you can do to save money today and set yourself up for a better future.

We’re not talking about turning off the oven light, these are more substantive changes (and in some cases you’ve heard them before) and this is but a gentle reminder:

Bring Your Lunch

You knew this would be the first tip of the list and it’s a good one – bring in your lunch. Instead of spending $8-10 a day on lunch, why not keep those savings in your pocket by bringing in a bag lunch? It might not be as exciting as a meal you buy from a quick service shop but it’ll be cheaper. If you spend $10, peel off two bucks a day and make yourself a sandwich. By saving $8 a day, you’re nearly halfway there to saving $100 a week.

Savings: $40 a week, $8 a day

Make Your Own Coffee

The classic latte factor [4] is back! I won’t go into great detail about this one because it’s been talked about forever but brewing your coffee at home can save you a bundle. A cup of coffee at Starbucks can run you $3, compared to just $1 at home… plus you get it sooner and save yourself some time.

Savings: $10 a week, $2 a day

Carpool With Someone

Carpooling saves you money on gas and on the maintenance of your car. It doesn’t sound as impressive when you only do it once but skipping a 15 mile commute each day will save you in the long run. If your car gets 30 miles to the gallon and you have a 15 mile commute, that’s a gallon saved each day going back and forth. You’ll have to drive a little more some other day, to repay your carpooling friend, but that’s still a cool $3.50 put into your pocket.

Savings: $3.50 (a gallon of gasoline)

Pause Memberships

How many memberships do you have? How many do you actually use? Consider putting them on pause while you aren’t using them and saving a little extra money. Netflix lets you pause your membership without any penalty. Netflix’s 2 DVDs out at a time with unlimited streaming is $19.98 a month, or about 66 cents a day. Pause it for a week and save $4.66.

Savings: It depends.

Skip the movies, Go with Redbox

Love movies? Skip the $10 movie tickets and visit your local Redbox [5] kiosk. If you can score a Redbox promotion code for a free movie, even better because then it’s free!

Savings: $19 (for two)

Put on a Sweater (Winter only!)

According to EnergySavers.gov [6], turning down your thermostat a degree can save you 1% of your bill if you do so for eight hours. Let’s say your bill is $150 a month, or $5 a day, then you could save a nickel each day by dropping the temperature down by one degree. That’s fifty cents if you drop it by ten degrees and put on a sweater.

Savings: It depends.

These are just a handful of ways to save some cash this week in between trying to build a passive income stream or a side business. Give one of them a try and see how much it’ll save.

(Photo: spybart [7])


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URLs in this post:

[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/save-100-week.html

[3] split two-ply toilet paper and other ridiculous ideas: http://www.bargaineering.com/articles/5-ridiculous-ways-save-money.html

[4] latte factor: http://www.bargaineering.com/articles/money-leaks-buying-brewing-coffee.html

[5] Redbox: http://www.redbox.com/locations

[6] EnergySavers.gov: http://www.energysavers.gov/your_home/space_heating_cooling/index.cfm/mytopic=12720

[7] spybart: http://www.flickr.com/photos/9128541@N05/1281781544/sizes/s/

Thank you for reading!