Redefining the Meaning of Wealth

Big Bear, CA

Several weeks ago U.S. News and World Report featured an article titled “15 Things You Shouldn’t be Paying For”. I highly recommend it. Free computer software, drinking tap water, fee-free checking accounts, adopting animals from a shelter instead of buying from a breeder, obtaining books from the local library, and lots of other great ideas are discussed. Check out the article and see if any of the ideas resonate with you. 

Too often we blame high costs as the reason we are broke or can’t afford something. But if we are willing to shift some habits and in some cases trade our time for money, we can keep more of our hard earned cash. Somewhere along the way we have all been brainwashed into thinking expensive goods and services have more value than something that costs very little or better yet is free. Even though many expenses are beyond our control like healthcare (please don’t get me started!) there are still many things we can get for free or for very little money. I share some of my own ideas below:

• Why spend money on cable? Stream your favorite programs from the web.    Check out Hulu (great for TV shows)  or Crackle ( great for movies)

• Wash your own car instead of paying someone to do it. The summer months are a great time to play in the water and get a little sun. Washing your car is also good exercise.

• Read your favorite magazines and newspapers on line and cancel your subscriptions. This option also cuts down on clutter.

• Craving new clothes? Shop in your closet. I guarantee you’ll find at least one treasure you forgot you had.

• Entertain at home. Next time you get the urge to get together with friends and go out to eat, why not invite them to your home? Sure eating out is about the food but it’s also about the company. You can just as easily socialize with friends at home as you can at the latest trendy restaurant.

• Never pay for a credit report. Check out the Federal Trade Commission’s website for more info: http://www.ftc.gov/freereports

• Have you been thinking about buying an e-book reader but you’re not sure you want to delve out the money just yet? Amazon has a free kindle you can download to your computer. It’s a great way to check out this fun new technology before you take the plunge and buy one separately. Who knows, you may even find out that you enjoy reading books on your desktop or laptop. Many e-books are cheaper than regular books and Amazon also has free books you can download.

• Trade pet sitting services with a friend. Our pets are like family and we want them to have the best care possible when we are away from home. Team up with a friend or a good neighbor and help each other out when pet care is needed. The pets will come to know these sitters as family and won’t be so freaked out when their people are away.

• Vacation at home. Stay at home and be lazy. Better yet, be a tourist in your own town. Nobody loves traveling more than me but sometimes it’s nice to vacation at home especially if funds are tight.

• Send e-cards for special occasions. Many sites offer them for free and they are a great way to cut down on environmental waste as well.

• Don’t buy water at the airport. We all know that we can’t take liquids through airport security anymore but that doesn’t mean you have to pay for bottled water once inside the terminal. On a recent flight, I gulped down my last drop of water as I reached Security and the TSA guy encouraged me to save my bottle and fill it up once I passed the security checkpoint. What a brilliant idea, I told him. In the future, I plan on taking an empty water bottle and filling it up at one of the filtered water fountains that all airport terminals provide.

• Bring your own food to the airport. With the exception of some fruits and vegetables, most food is allowed through security checkpoints. Of course it may not be practical to pack a gourmet meal but snacks brought from home are much cheaper than buying them from the high priced eateries at the airport. I like to pack trail mix, dried fruit, blue corn tortilla chips, and dark chocolate.

• Can you borrow it? If you only need an item temporarily, why not borrow from a friend or relative? Offer to return the favor in the future with anything they might need as well. Appliances, tools, clothes, suitcases, serving trays and dishes are great examples of items we can borrow from each other.

• There is never any need to buy gift wrapping. Use an old brown grocery bag and decorate with markers, stickers, and ribbons you have laying around. Reuse gift bags. Just remember to remove any gift tags and make a new one. If you absolutely must buy gift wrapping, tissue paper is the cheapest.

• Entertain yourself for free. The web offers hours of free entertainment. U-Tube alone can keep one engaged for hours with music, crazy pet videos, and special interest stories. Check out your library or community centers for free lectures and concerts. Don’t forget enjoying nature. It’s truly the best show in town. Quit using the excuse that you don’t have money for entertainment. There’s plenty out there if you just look for it.

For me saving money is about freedom and taking control of my life. It’s not about being cheap or trying to get something for nothing. Saving more gives me the freedom to possibly work less, have an emergency fund (which gives me peace of mind) or spend my money on a really cool item or experience such as traveling. What about you? Why do you like to save money and do you have any ideas to add to the list above?