Appendix B
Tips and Tricks for Saving Money
25 Tips for Saving Money on Just About Everything
1. Buy cases of soda and take one with you instead of buying singles from the machine. Ditto for juice and water.
2. Pack a lunch instead of buying it. You’ll save money and probably eat healthier, too.
3. Don’t overlook second-hand stores for clothes, especially expensive items such as coats.
4. Look for stores that sell second-hand sporting and recreational equipment such as rollerblades, bikes, and camping gear.
5. Don’t go into a store unless you need something. Browsing can be an expensive hobby.
6. When eating in a restaurant, ask for water and skip the soda.
7. Ask your friends to come to your house and chip in for pizza instead of going out to eat in a restaurant.
8. Remember that fast food isn’t cheap, and limit your trips to the drive-through.
9. Don’t buy clothes that need to be dry-cleaned.
10. Wear what you own instead of buying new clothes all the time.
11. If you see something in a store that you like, ask a salesperson if the item will be going on sale soon.
12. Swap special-occasion clothes with your friends instead of buying something you’ll wear only once.
13. Borrow shoes for a dance instead of buying new ones.
14. Buy items such as tights or underwear in packs of four or six.
15. Do your own nails or get a friend to do them instead of paying for manicures.
16. Get a good haircut from a stylist; then use a cheaper place for in-between maintenance.
17. Look for store brands or less expensive varieties of items such as shampoo and shower gel.
18. Clip and use coupons for things you buy or activities that you participate in.
19. Exercise in shorts and a T-shirt instead of spending your money on the latest Nike exercise fashions. They might look good, but they don’t improve your workout.
20. Borrow books from the library instead of buying paper-backs that you read once and stick on a shelf.
21. Borrow CDs from friends and listen before you buy them.
22. Take care of the things you have so they won’t need to be replaced.
23. Cancel subscriptions to magazines that you don’t have time to read.
24. Look for activities offered in your community that don’t cost any money such as concerts, demonstrations, or shows.
25. Leave your credit card at home when you go shopping. Using cold cash is less tempting than handing over a card.
Saving Money Now So You’ll Have It Later
If you save only $5 per month at 5 percent interest that’s compounded quarterly, here’s what you’ll have:
✧ After one year: $61.66
✧ After two years: $126.47
✧ After three years: $194.58
✧ After four years: $266.15
✧ After five years: $341.38
✧ After ten years: $779.04
✧ After fifteen years: $1,340.13
If you save $10 per month at 5 percent interest that’s compounded quarterly, here’s what you’ll have:
✧ After one year: $123.29
✧ After two years: $252.86
✧ After three years: $382.03
✧ After four years: $532.13
✧ After five years: $682.53
✧ After ten years: $1,557.56
✧ After fifteen years: $2,679.38
If you save $15 per month at 5 percent interest that’s compounded quarterly, here’s what you’ll have:
✧ After one year: $184.95
✧ After two years: $379.33
✧ After three years: $583.60
✧ After four years: $798.29
✧ After five years: $1,023.91
✧ After ten years: $2,336.60
✧ After fifteen years: $4,019.51
If you save $20 per month at 5 percent interest that’s compounded quarterly, here’s what you’ll have:
✧ After one year: $249.58
✧ After two years: $505.71
✧ After three years: $778.03
✧ After four years: $1,064.27
✧ After five years: $1,365.06
✧ After ten years: $3,115.12
✧ After fifteen years: $5,358.76
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