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MoneyMindedMoms: 5 Tricks to Save Money

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5 Tricks to Save Money
Apr 12 2011 07:00 PM | Sabrina O’Malone  in Erasing & Managing Your Debt -----
Have you noticed that saving energy and saving money go hand in hand these days? Here are five easy tricks to help you save both:

1. Don’t idle. When you’re in the car waiting to pick up your kids, turn the engine off! You’ll save gas - which at today’s prices saves significant money (and helps the environment.)

2. Replace your household lights with compact fluorescent light bulbs. They last 6-10 times longer than regular incandescent bulbs. And they can cut 20% (or more) off of your electric bill because they use a fraction of the electricity.

3. Unplug your household appliances when they’re not in use. Computers on standby still pull significant power. (Commonly referred to as “standby” or “vampire” power) Rule of thumb, if your appliance has a small glowing light when it’s plugged in, it’s always pulling electricity and wasting your money.

4. Donate used clothing, toys and household items. If you can't sell your unwanted stuff at a consignment shop, then donate them to organizations like Goodwill or the Salvation Army. Bonus: you may also be able to deduct the consignment shop value of the clothes off your taxes.

5. Every degree you lower your thermostat in the winter can reduce your heating bill by 5%. So lower the thermostat and get in the habit of putting on a sweater and warm clothes. When summer approaches, try to put off turning on the air conditioner for as long as possible. Cooling below 75 degrees can easily double your electric bill. Raising the thermostat in the summer from 73 degrees to 76 degrees could save you 30% off your air conditioning costs.

With just a few easy modifications you can do your part to save the planet while saving your money too!

Sabrina O’Malone works full-time while raising and homeschooling her 6 children ages 13 and under. (That’s no typo - six kids + a full-time job + homeschooling!) Thanks to the Great Recession, she is rediscovering the lost art of frugality - and writing about the secrets to maintaining a great lifestyle while saving money. To keep up to date on Sabrina’s comings and goings and other hot-button topics, check out the following:

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