These life hacks will help you save money

Living life today can be expensive. And saving money is more important than ever with the economy stalled because of the COVID-19 pandemic, and many businesses shuttered. There’s no need to waste money buying commercial laundry detergent, getting name brands, entertaining your kids, taking extended warranties and subscribing to services you no longer use when there are cheap alternatives. These 20 life hacks will help you save precious money to spend on the things that are really important, like . . . well, you decide.



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Make your own laundry detergent

Since you have time on your hands, why not make your own laundry detergent? If you are buying name brands, you are probably being taken to the cleaners as far as price goes, as well as exposing yourself to some toxic ingredients. You can save substantially by making your own safe, organic detergent with a variety of recipes that include ingredients such as bar soaps, washing sodas and borax.



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Configure the power savings settings in your electronics

You can save up to US$100 annually by properly configuring the power saving settings on your computer (your monitor and computer may have separate settings). Having your computer in a low-power sleep mode can also allow you to boot it up quickly without a restart. Other electronics, such as smartphones and TVs, also have low-power and sleep modes you should take advantage of. Since many of us are home full-time, saving on utilities is important.



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Make a grocery list and stick to it

With more people buying their groceries online, for home or curb-side delivery, it’s more important than ever to not fall prey to impulse buys (especially when you’re bored and hungry). Make a shopping list first and stick to it, saving yourself from getting groceries you don’t need. Also check coupons and store flyers for further budgetary belt tightening. Buy fruits and vegetables in season, and know your food prices (sometimes a bargain isn’t a bargain).



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Go for generic and store brands

If you buy generic and store brands for a wide range of products, instead of name brands, you can enjoy substantial savings of as much as 20 per cent. Generic products can include medications, baby formula, cleaning supplies, sunscreen, milk, herbs and spices, frozen and canned fruits and vegetables, and much more.



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Eat more homemade soup

According to The Humbled Homemaker, DIY soup is not only delicious, it can save you money on a number of fronts. You can buy commonly used ingredients in bulk, pay less for ingredients in season, use a lot of beans as a frugal source of protein, make your own stocks, incorporate leftovers and food scraps, and substitute wallet-friendly ingredients for more expensive ones.

Even if you buy commercial soup, it’s a frugal meal in a can that will save you money over a lot of other pre-packaged food options.



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Change your cellphone plan

Cellphones can be expensive, especially if everyone in the family has one. So if you are with a major carrier, it may be a good idea to look at smaller or prepaid carriers (make sure there are no penalties to leave your current plan). Also look at your data usage. If you are only using, say, 5 GB or less, perhaps exchange the unlimited plan for a fixed-data one.



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Get rid of your car

The price of car ownership can be onerous once you crunch the numbers for financing, insurance, repairs, parking and so on. The coronavirus lockdown is making many people question if they really need a gas guzzler when they’re in the city. You can walk, ride a bike or take a scooter to get around, use a ride-share service, and just rent a vehicle when you need it, through a by-the-hour or by-the-day car-rental agency.



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Drink more water

If you drink more water, you will fill yourself so you eat less and even drink less of other kinds of (more expensive!) beverages, including alcohol, coffee and pop. At the same time, you’ll be well hydrated and flush toxins from your system. But drink tap water not bottled water, which costs too much and is an environmental disaster for the planet, with its plastic bottles.



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Review and purge unneeded subscriptions

More than ever there is pressure on us to shell out monthly charges for subscriptions. These can be old-media subscriptions to newspapers and magazines, or they could be digital subscriptions to software services, streaming video networks, music offerings, extra cloud storage and much more. Each subscription on its own may not be much, but taken together they can add up. Not listening/watching/using something much? Get rid of it.



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Inflate your car tires properly

By keeping your vehicle’s tires properly inflated, you can save money and lives. Underinflated tires wear out faster and significantly lessen a car’s gas mileage efficiency. In the United States alone, improperly inflated tires contribute to more that 33,000 injuries and 600 fatalities a year, and wastes more that 3.8 billion litres (one billion gallons) of gasoline annually. Since many people’s cars are left unused on driveways for long periods of time during the pandemic, it’s more important than ever to check tire pressure before driving.



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Shop all the holidays wisely

Most of us know that before the holiday season, sales will start happening as retailers try to get rid of inventory. And of course these savings continue in Boxing Day/Week sales. But almost all holidays can be treated the same way, with sales before and afterwards. Want discounted chocolates or romantic clothing? Think Valentine’s Day. Father’s Day might be a good time to get a tool set. Or take advantage of Labour Day savings for back-to-school supplies.



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Use a programmable thermostat

If used properly, a programmable thermostat can save you money by adjusting the temperature for when you are and are not at home. About 45 per cent of a home’s energy goes to heating and cooling the place. For every one degree Fahrenheit you turn your thermostat down, you will use one per cent less energy. That means if you reduce your heating by 10 degrees at night (approx. 5 degrees Celsius), you will use 10 per cent less energy.



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Amuse your kids on the cheap

Under the COVID-19 lockdown, many families are spending time together around the clock. Parents are forced to find ways to keep their kids amused. Fortunately this doesn’t need to cost a bundle. Your greatest gift to them is to spend time together and be fully present (phone off!). Cost-effective entertainment ideas include cooking together in the kitchen, making and flying paper airplanes, doing a scavenger hunt, getting them involved in gardening and playing fun games.



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Entertain virtually

It used to be that entertaining at home involved having people over for dinner, drinks and talk. With the social distancing encouraged or enforced due to the coronavirus, many people are turning to videoconferencing platforms (many with free options) to stay connected with friends and families. With these virtual solutions for get-togethers, people can still hang out, have a drink and catch up.



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Use digital wallets wisely

While experts tell us to use cash instead of credit cards to avoid overspending, that’s harder these days in which the few stores that remain open discourage or prohibit the use of hard cash. While digital wallets make spending easy, they also make it simple to keep track and manage all your finances in one place. If you need further help in controlling spending, you can look into one of the many budget apps available.



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Skip the car rental insurance

If you rent a car, think twice about taking the offered insurance from the rental company. Your credit card provider, auto club or existing vehicle insurance might already have you covered, so check first. You also might be able to save money if you prepay for your car when you rent it. And when you pick the car up, check if they offer any discounts (for veterans, seniors, car club members, etc.), because it never hurts to ask.



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Use an electric kettle to boil water

Your grandmother boiling her tea water in a kettle is a good example to emulate. When it comes to energy efficiency to boil water, an electric kettle is about 35 per cent more efficient than a microwave and more that 50 per cent more efficient than boiling water on the stove. Many electric kettles also turn themselves off automatically, ensuring you use no more energy than needed.



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Install a rain barrel

If you install a rain barrel on your home, you can conserve water for your lawn and garden, and lower your water bill. In fact, it can lower water bills by as much as US$35 in the summer, saving as much as 4,921 litres (1,300 gallons) of water during peak months. Local governments also sometimes offer tax breaks or rebates for installing rain barrels.



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Don’t take the extended warranty

While getting an extended warranty sounds like a good idea—to cover repairs for your car, TV, computer or other electronics when the manufacturer’s warranty expires—it often isn’t. They usually come at a high price, often don’t cover everything that can go wrong, and many people forget or can’t be bothered to use them.



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Find ways to stay fit

Many fitness clubs have shut down during the pandemic. While this saves you the cost of a membership, it leaves you with the challenge of staying fit at home to avoid the health consequences of a sedentary lifestyle. Fortunately, some health clubs are offering free online resources and live videoconferencing sessions to keep members going. There are also many (free!) workout videos you can do from the comfort of your home.



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