Finding Cheap Dress Shoes for Under $25

How I Found Cheap Dress Shoes for Under $25

I got these new dress shoes for under $25!
Image Source: Dr. Penny Pincher

My black dress shoes were pretty much shot.  I noticed this when I nearly fell down at work and noticed that the sole was separated from the shoe, creating a trip hazard.  I have tried to repair such problems before using Superglue or other adhesives, but repairs like this are only a temporary measure.  I could take the shoes to a shoe repair shop and get the sole sewn back on for about $10, but the leather uppers were pretty much worn out too.  It was time for a new pair of black dress shoes.

My old black shoes were hard to walk in anyway- they weighed about 5 pounds each.  This time I wanted much lighter shoes.

Fortunately, I had $10 Kohl's Cash and a 30% off coupon from Kohl's in my coupon envelope in my car ready for just such a situation.  I like to keep my best coupons with me in case I need to buy something.

I checked out the black dress shoes at Kohl's and found some lightweight black dress shoes priced at $69.99 and marked down to $41.99 on clearance.

With my $10 Kohl's Cash and 30% off coupon, I saved $47.60 off of the original price.  The final cost of the pair of shoes was $23.96.

I think these shoes have potential to be a good pair of shoes for me.  I can't go too far wrong for $23.96...

My new cheap dress shoes- under $25 for the pair!
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Here is an article about Kohl's Cash and other ways to save at Kohl's.

Cheap Shoe Options- Used Shoes

If you are willing to consider buying used shoes, you can find cheap shoes for sale at Goodwill, thrift stores, or garage sales.  I think used shoes could be a good way to get some high quality shoes pretty cheap.  I suspect that there are lots of used shoes for sale that were originally very expensive and that have been worn very little for whatever reason.

If you get used shoes, you might want to disinfect the shoes with Lysol or something like that.  I have never gone with used shoes myself- I would be concerned with picking up a foot fungus, warts, or other diseases from used shoes.

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Envelope Budgeting Tips

Tips on Envelope Budgeting From My Experience

Envelope Budgeting Tips from Experience
Image Source: Wikipedia/Michiel1972 cc-by-sa

What is Envelope Budgeting?  For an introduction on envelope budgeting to save money and stay within your budget, see my earlier post that covers the basics of envelope budgeting.

Today, I will talk about some things I have learned that make envelope budgeting work better in practice.

Get a Good Envelope

Envelope budgeting really involves only two things:  an envelope and cash.  It helps to use a good envelope.  I have found that the money envelope gets some wear and tear as I carry it around and my wife also carries it around.  My bank has nice envelopes that they offer me when I take cash out.  I always get one of these.  These envelopes have a resealable flap and are made out of a tough paper that may have a bit of plastic content.  I think a regular mailing envelope would wear out quickly.  The resealable flap is useful to hold change in the envelope as well as bills.

Get the Right Bills When You Load Your Envelope with Cash

If you get too many small bills, they won't fit easily into an envelope.  Big bills are not accepted everywhere and I worry more about losing a big bill.  I have found that a mix of 10's and 50's works well.  The 10's are nice for smaller purchases, and the 50's work well for paying for a bigger trip to the grocery store.

Account for Spending Outside the Envelope Quickly

We have had a few times where we used a credit card instead of the money envelope when we did not have the envelope with us.  Actually this happened a few times.  I kept track of the amounts by writing it down on the envelope when I got home, and within a few days I removed this amount from the money envelope so I can deposit it into checking and use it to pay the credit card.  This works fine since the food budget is not effected.  We did use a credit card instead of money from the envelope, but then I took the money out of the envelope to account for this.  The trick is to keep track of any spending that should have been taken from the envelope and make up for spending outside the envelope quickly before you lose track and no longer know if you are staying within your budget or not.

One of the biggest problems with the envelope system is that it would be easy to stop doing it.  This is the same thing that happens when going on a diet.  You have good intentions and may do well for a few days, but then go back to your old eating habits.  If you have an easy way to make up for spending that should have some from the money envelope, then you can get back on track.

Pull Out Money From the Envelope Before You Go Into A Store

At first I was carrying the money envelope into stores with me.  It was sort of awkward sorting through the bills in the envelope at the checkout.  I realized that I can just put a few bills in my wallet while I am in the car.  Today I went into a store thinking the damage would be around $45, so I loaded $50 in my wallet from the money envelope before going in the store.  Paying was quick, since I knew exactly how much was in my wallet, and it was less awkward than carrying an envelope stuffed with cash around.  The total turned out to be just under $42, so everything worked out fine.  Worst case, if you don't take enough into the store, you can run back out to the car to get more from the envelope.

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Envelope Budgeting- Save Money with the Envelope System

What is Envelope Budgeting?

Money Envelope System For Budgeting:  All You Need Is Money and an Envelope!
Image Source: Wikipedia/Michiel1972 cc-by-sa

Envelope budgeting is a simple and effective way to both keep track of spending and avoid going over your budget.  When you get your paycheck, get cash for the amount you budget for an expense category and put it in an envelope.  For this discussion, I'll use your grocery budget as an example.

Let's say you get paid every two weeks and your grocery budget is $500 for two weeks.  On payday, get $500 cash and put it in an envelope for groceries.  Every time you buy groceries, take money from the grocery envelope and put the change back in the envelope.  You can check at any time how much you have spent on groceries by counting the money in the envelope.  If you like, you can keep your grocery receipts in the envelope so you can see exactly where your grocery budget went.

How Does Envelope Budgeting Work?

There is something about spending cash that is more difficult psychologically than spending money using a credit card.  I learned this myself when we tried out the envelope system for food this month.  I was planning to bring my wife some lunch at work.  The thought of spending cash to buy her a sub at Subway was painful.  I texted her and asked if a peanut butter and jelly sandwich would be OK.  That is a good example of how the envelope system works.  When you have cash and can see it, it is hard to spend.

The other way that the envelope system works is that it provides a natural limit on spending.  If you buy groceries using a credit card with a $5,000 credit limit, there isn't much of a limit on how much you can spend on groceries.  If you aren't paying attention, there is no feedback at all that you have overspend until you get your credit card bill the following month.  Of course, you can check you credit card balance any time, but this requires effort.  If you buy all of your groceries using cash from your envelope, it requires no extra effort to see when you are running out of money!

Downsides of Envelope Budgeting

During the month trying out envelope budgeting, I have noticed a few negative aspects of this system:

1. You have to get cash to put in the envelope.  For me, this means a trip to the bank.  Buying with credit cards does not require a trip to the bank, so using a credit card is more convenient.  However, convenience isn't the point of envelope budgeting- saving money is the point.  So if I can save money, it is worth the hassle to go to the  bank a couple times a month to get cash for the money envelope.
2. There is risk in carrying cash around.  I recently went to the grocery store after stocking my envelope with cash.  I felt a bit uncomfortable pulling out the envelope and digging through $500 in cash to find the right bills to pay for $40 worth of groceries.  It would be easy for someone to grab the envelope and run, or to break into my car or house and steal the envelope.  However, I live in a safe neighborhood, so there is little actual risk of the cash being stolen.  I will probably be able to get comfortable with carrying some cash around with practice.
3. Dealing with change is a hassle.  It seems to take more time to count out bills to pay at the grocery store and then have the cashier deal with making correct change.  Credit cards are certainly a faster and easier way to pay.  But again, this is not about convenience- in some ways the envelope system is about making spending more inconvenient so you won't do it as much!
4. It is easy to end up at the store without your envelope.  What do you do then?  For maximum effectiveness of the envelope system, you should drive home and get the envelope.  However, what I have actually done is used a credit card from my wallet, kept track of the amount, and then adjusted the envelope later.  I couldn't deal with wasting money and time driving around when I could easily make up the difference and get back on track with the envelope system.

How Much Can You Save Using Cash Envelopes?

Again, I am just getting started with the envelope system, but I can see that we are saving money on food spending.  Knowing that you have a limited amount to spend that can run out, and being able to see when you are getting low on money in the envelope provides powerful feedback to help limit spending.  Using an envelope of cash for budgeting seems to be pretty simple and pretty effective.

If you don't want to deal with actually carrying cash around, there are software packages and apps for smart phones that can help you do envelope budgeting using credit cards or bank accounts.  The software helps keep track of your spending by category and provides a virtual envelope.  This would be more convenient than carrying cash around, but I do not think it would be as effective.  It is hard to spend "real money" and that is a good thing when you are trying to stay on a budget.

Keep Some Cash Around for Disasters

Another benefit of keeping an envelope of cash around is that it could function as an additional supply of emergency cash in case electronic transactions are not available.  We already keep some emergency cash around, but in an emergency the envelope would give us even more cash if needed.  In this case, by "emergency", I mean a situation where electronic funds are not available.  For example, cash could be the only way to make purchases if there is a widespread power outage or if electronic banking system get hacked or some other disaster occurs and credit cards and bank cards are not working.  Once during a flood and power outage, I saw people with credit cards and bank cards turned away from the grocery store.  Signs were taped to the door that said "cash only".  I think having some cash around at all times is a good idea.

Update:  Money Envelope Tips

Well, I have stayed with the money envelope system for several months now!  It is working to help keep us on target on our budget.  Here is an article I wrote with more tips on saving money with the money envelope system:
http://pennypincherjournal.blogspot.com/2015/03/envelope-budgeting-tips.html

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State Farm Credit Card- Looks Like a Good Deal!

State Farm Credit Card Offer

State Farm Credit Card- It's a Good Offer
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I get several credit card offers per week in the mail- sometimes even more than one per day.  Today I received a credit card offer that is a really a good deal.  It is a Visa State Farm Credit Card.  The offer was 2 years at 0.9% interest on balance transfers AND there is no balance transfer fee AND there is no annual fee.  Almost all of the credit card offers I get have a 3% balance transfer fee.  This would mean that if you transferred a $10,000 balance the fee would be $300.  I recycle any offers that charge a balance transfer fee.

The rate on purchases is 12.9% and the 0% introductory rate goes up to 12.9% after 2 years.

The State Farm Credit Card also has a benefit that you can get cash back if you use the State Farm Credit card to pay your State Farm Insurance bill.  The offer I received was a "pre-screened" offer that came in the mail.

Save Money on Your Insurance Bill- Use a State Farm Visa
Image Source: Dr. Penny Pincher

Of course, 0% interest would be even better than 0.9%, but you wouldn't pay much for interest compared with a $300 balance transfer fee.  The interest on a $10,000 balance transfer would be about $90 for 2 years if you pay it off.  If you check my math, it might not look like this adds up, but if you steadily pay down the balance over 2 years, the average balance would be $5,000 for 2 years.

This Is What a Good Credit Card Offer Looks Like...
Image Source: Dr. Penny Pincher

Seeing this credit card offer reminded me of a good way to save money on high interest credit cards- transfer balances with high interest rates to cards with low- or zero- interest and get them paid off.  Watch out for the transfer fee, which is typically 3% of the balance.  Also watch out for annual fees- some cards charge an annual fee of $50 or more, which I try to avoid unless the card has a really good points or travel miles program that offsets that cost.

If you have a credit card balance with a high interest rate, look for a deal like the State Farm Credit Card with $0 balance transfer fee, no annual fee, and a low interest rate.

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Almost Free Lunch- Only 4 Cents!

How Did I Get Lunch for 4 Cents?  Better Oats!

It is true that you can't get much for a penny these days, but I have my lunches taken care of for several months at only 4 cents each!

The cheap price is not the only good thing about my lunch plan for the new year- it is also quite healthy.

While picking up a few things at the grocery store for my wife's homemade chicken pot pies, I came across some boxes at the back of the grocery store with a sign that caught my attention.

Clearance Better Oats Oatmeal!
Image Source: Dr. Penny Pincher

I checked this out carefully to make sure each BOX with 5 packets of BetterOats oatmeal was being offered for 20 cents, rather than 20 cents per bag which would work out to $1 per box.  But the offer was in fact 20 cents per box, which is only 4 cents per bag of oatmeal.

The next thing I checked was the expiration date on the boxes.  Some expired in 2 months and others in 3 months.  I figured that I could eat quite a bit of oatmeal in 2 or 3 months and my kids like oatmeal as well.  My parents eat oatmeal every day too, so I decided to load up the cart.

Bulk Oatmeal is a Cheap Lunch and Snack!
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Cheap, Healthy, and Easy to Make at Work or at Home

I sent 10 boxes (50 packets) home with my parents and had about 15 boxes left.  After trying the blueberry muffin flavor, my kids informed me that 15 boxes would not be enough.  This was really high quality oatmeal with nice packaging and good ingredients like whole blueberries and flax seed.

I figured that the bargain oatmeal would be gone right away, but I happened to be in the store a few days later and there was still a good supply so I picked up about a dozen more boxes.

I have found that it is easy to make oatmeal at work.  Just pour the oatmeal in a paper cup, fill the bag with water (these bags have a mark for the correct amount of water), and microwave for about 65 seconds.

Check out this deal on Amazon for 52 packets of oatmeal:


I have been eating more than one packet of oatmeal per day, typically 2 or 3 packets so far this year.  There are several flavors including:

• Blueberry Muffin
• Apple Cinnamon
• Chai Spice
• Cinnamon Roll

The lesson I take from this is to keep an open mind about discounted items at the grocery store, but make sure you can use the clearance stuff before it gets too far "past code".

Plus I was reminded how much I like oatmeal and how healthy it is for you.  See if you can find some good deals on oatmeal- happy hunting!

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Work at Home as a Professional Penny Pincher!

Work at Home as a Professional Penny Pincher!

Work as a Professional Penny Pincher- the Money is Real!
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Surfing around on the Internet, I see all kinds of offers for programs to work at home and make some extra money. Most of the concepts I see seem difficult and may or may not work. For example, not everyone is cut out to sell things, make phone calls, or write marketing copy. I suspect many of the work-at-home schemes make money for the people selling the scheme, but not for the people who pay for the program and try to make money.

Here’s an easy work at home plan: make your second job focusing few hours a week on spending less money. Now that I think about it, I am a professional penny pincher! If getting paid to do something makes you a “professional”, then I am a professional penny pincher since I save money every day.

This article describes my daily routine that adds up to over $17,000 of savings per year. That works out to nearly $1,500 per month. You may be able to save this much or even more if you are willing to work at saving money for a few hours per week- think of penny pinching as a part-time job. This sounds like a good opportunity to me!

I’ll go ahead and put out an advertisement for professional penny pinchers, I think this would be a better way for people to end up with extra money each month than most of the work-at-home schemes out there. Of course, I’ll need to describe this work at home plan in flashy marketing language to compete with the fancy advertising for other work-at-home plans out there. Here goes:

Now Hiring: Professional Penny Pincher

Work at home, set your own hours, and make hundreds- or even thousands- of dollars per month. No experience required. No need to purchase any program or start-up materials. Become a Professional Penny Pincher- start today for free!

Find Ways To Spend Less Money as a Professional Penny Pincher!
Image Source: Dr. Penny Pincher

Is Professional Penny Pincher the Right Job for You?

So let’s review. You are interested in working at home a few hours a week to make extra money. You want something easy to do that doesn’t require spending money to get started. The opportunities out there seem to require purchasing a program or doing work that you would rather not do. Plus it seems questionable how much money you could make at the work-at-home jobs.


Now you have come across an ideal work at home job: Professional Penny Pincher. You don’t need to buy any program or start-up materials to get going. You don’t need any particular skills or experience. You can choose how much time to spend working as a penny pincher. Your time spent working as a penny pincher can make a lot of money for you with only a few hours of work each week. I think we have found the ideal work at home job for you!

Your Time Spent Saving Money Pays Well as a Penny Pincher
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How to get started as a Professional Penny Pincher

Here is a list of some expenses that many people can cut to get a jump-start on saving money immediately. Many people could cut thousands of dollars of expenses per year without much effort.

So you are ready to sign up- great! How do you get started? As with most things, getting started is the hard part. What should you do on your first day of work as a penny pincher? Since you are working at home, we can skip the tour of the building and showing you where the coffee maker and bathrooms are located...

The place to start is by thinking about your spending and attempting to separate spending into “needs” and “wants”. This task is difficult because there is often not a clear line between needs and wants, and also because you may view some of your “wants” as “needs”. You may be able to think of some expenses you could cut to spend less money with only a few minutes of thinking.

Since you are a “professional” penny pincher, you may want to go further and make a list of your expenses for the month. Some of the bigger expenses will be easy to list and you may even know the amounts already.

The quickest opportunity to save money right off the bat is often in the smaller expenses and unnecessary purchase you make out of habit. Since you have spending habits that are set, it may be difficult to see which purchases are unnecessary. Check out Penny Pincher Journal for specific ideas on ways to spend less money every day.

Some ways to spend less money do require effort, such as packing your own lunch or keeping track of coupons and shopping lists- but the payoff is high considering the amount of work required.

Over time, you can work at reducing your larger expenses. I have been able to move to a smaller house to save money on mortgage payments. You may also be able to get your car paid off and eliminate car payments as well.

Here's Where You Make Your Money as a Penny Pincher...

Next, bring income into the picture. As you find ways to spend less money, you will have more of this income left at the end of each month to save or invest. This is your payment for working as a professional penny pincher. If you calculate your hourly rate by dividing how much money you save by the number of hours you spend working at pinching pennies, being a penny pincher may be one of the highest paying work-at-home jobs around.

Working as a professional penny pincher has benefits that go beyond making money. You may find that you are eating healthier, have reduced stress, and have less clutter in your house. Good luck on your new part-time job as a professional penny pincher!

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Penny Pincher Skills- Improve Your Ability To Save Money

How Can You Improve Your Penny Pinching Skills?

Improve Your Skills at Saving Money
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It takes skills and abilities to be good at saving money instead of spending it.  Some abilities are more at the innate end of the spectrum, for example you may naturally be a patient person, or you may naturally be impatient.  However even something like patience can be improved with practice if you work at it.  Determination is another example of an innate trait that can be improved with work and through your circumstances.

Skills that can help you save money can be learned and improved.  For example, when I bought my first house I had no plumbing skills at all.  Over time, I learned to do more plumbing work.  Last week, I cut off copper supply pipes, removed a kitchen sink and sink base cabinet, and sweated on new shut-offs and installed new drain lines for the new sink.  I bet I saved well over $500 on plumbing bills by using skills to do something myself instead of paying someone else.

What Skills Help You Save Money?

If I were training you to improve at basketball, I would teach skills like passing, dribbling, shooting, and defense.  What skills can you work on to become a better penny pincher?  Here are some that come to mind:

Negotiation Skills:  There are many situations where having good negotiation skills can save you lots of money.  When buying a house, car, furniture, or other big ticket items there is often a lot of room for negotiation in the price.  The keys to successful negotiation are to understand the realistic market value of what you are buying and try to understand how you can sweeten the deal for the seller in ways other than paying more money.

Budgeting Skills:  Are you good at keeping track of expenses and how much you are spending?  Do you know where your money is going?  Some people seem to be naturally good at doing this, while other people struggle with keeping track of expenses.  No matter what your current skill level at budgeting, improving you budgeting skill can help you become more effective at saving money.

Home Improvement Skills:  There is a lot of opportunity to save money on maintaining and upgrading your house if you develop some home improvement skills.  You can save money if you can do simple electrical repairs and upgrades such as changing a faulty light switch or replacing a light fixture or ceiling fan yourself.  Plumbing skills, such as being able to replace copper fittings and install new sink drains, can save tons of money if you are planning upgrades to your kitchen or bathroom.  Painting yourself- both interior and exterior- can save you lots of money if you are able to do this work yourself.  The more landscaping and yard maintenance you can do yourself, the more money you’ll save.

Improve Your Home Improvement Skills to Save Money
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Couponing Skills: Coupons represent a lot of planning and work that people put into saving money.  It takes some time, effort, and organization to use coupons effectively- but the payoff is well worth the effort.   I would say that I use some sort of coupon of money-saving program almost every time I buy something.

Improve Your Skill at Using Coupons to Save Money
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“Smart Shopping” Skills:  I describe this skill as being able to accurately identify things that you need and obtain them at minimal cost.  This may involve shopping at clearance sales, or purchasing used items at consignment stores and thrift shops.  For example, today my wife found a pair of dress pants she can wear to work for $7 at a clearance sale.  This is a lot better than waiting until new pants are urgently needed and then risking paying full price for them.  A couple years ago, we had no chair in our living room and picked one up at a consignment shop for $38.  We would have paid 10x more at a furniture store.

Cooking Skills:  I’ll admit this is an area where I have a lot of room for improvement!  Fortunately my wife is good at cooking and enjoys doing it.  If you get good at making food at home, you can save a lot of money on eating out and eat healthier as well.

Gardening Skills:  Growing your own food provides a great feeling of independence, as well as an opportunity to save money on buying groceries.  If you are good at gardening, you can produce a lot of food using few resources.  If you are lucky, you grew up helping in the garden and know how to do it.  If not, you’ll need to read books and get tips from others who are good at gardening to increase your skills.

In the past, car maintenance skills may have made the list, but cars are so complex now that it is hard to work on them at home.  You can find coupons and get an oil change for under $20 which is hard to beat even if you do it yourself.  The oil change shops like to get your car in the door with a cheap oil change so they can recommend other repairs you may need while you are there.

Improve Your Penny Pincher Skills

So how can you improve your penny pinching skills?  Practice to improve your skills by taking on small projects or tasks and challenge yourself to see how well you can do.  Get some books at the library or read articles on the Internet to get up to speed on the knowledge required.  Choose a problem and see how well you can solve it while improving your skills at the same time.

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Cheap Decaf and Low Caffeine Options

Cheap Decaf and Low Caffeine Options

After publishing my second book and installing the copper supply lines myself for a kitchen remodeling project, I now have time to check my mail.  Today, I'll discuss cheap options for hot beverages that don't have too much caffeine.  Here's the question from a reader:




Dr. Penny Pincher,

You mention coffee in some of your articles and indicate the cost, preparation and taste of the coffee. Very interesting articles.

Do you have any suggestions for folks that want to limit their intake of caffeine by drinking decaf coffee or tea???  We don't seem to hear much about decaf these days.

Thank you-

A. Follower

------------------

Dear Follower,

Thanks for your question- I'll throw out some of my thoughts on decaf and low caffeine beverages and how to save money.

Cheap Decaf and Low Caffeine Options
Image Source: Dr. Penny Pincher

Drink Less Caffeinated Coffee

A simple way to spend less on coffee and to get less caffeine at the same time is to simply drink less coffee.

A couple years ago, I cut back on my caffeine intake.  I used to drink two 16 oz cups of coffee every morning and cut back to one.  As they say, caffeine is habit-forming and you can get headaches if you suddenly change your caffeine intake.  I gradually reduced my coffee drinking over two weeks a little at a time.  Here is an article that describes in more detail how to lower your caffeine consumption.  I now spend 60 cents per day rather than $1.20 per day on coffee.  This adds up to $219 per year.

Tea is Cheap and has Little Caffeine

Tea is really cheap and has a lot of health benefits from the high tannin and antioxidant content of tea.  Black tea has about 1/3 as much caffeine as coffee and green tea has even less caffeine.  You can even get decaf tea- I sometimes drink decaf Earl Grey tea.  You can get tea bags for around 10 cents each or more for higher quality tea.  You can also get loose leaf tea and use an infuser to steep it- loose leaf tea can have a lot more flavor than tea bags.

Coffee Alternatives

When I was trying out ways to reduce my caffeine intake, I tried out some coffee alternatives that were pretty good.  I found some chickory and carob coffee substitutes at the organic food store.  These are grounds that you brew like coffee and they taste sort of like a blend of coffee and hot chocolate with some nutty flavor.  My favorite was a brand called Teeccino.  It is sort of expensive, but is an interesting change from coffee and has no caffeine.




Here is an article that goes into coffee substitutes in detail.

How to Make Cheap Decaf Coffee

One of the simplest ways to get less caffeine and have a cheap beverage is to drink cheap decaf coffee.  If you make your own coffee at home, you can get cheap ground decaf coffee and make your own for about 11 cents for 16 ounces.  As with regular coffee, you can pay more and get higher quality coffee grounds or even get whole bean decaf coffee and grind it yourself.  Making good coffee from whole beans costs about 60 cents for 16 oz.  This article goes into detail about the cost to make coffee.

Decaf Coffee Costs the Same as Regular Coffee
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It is hard to beat drinking coffee, but too much of a good thing is still too much.  Hopefully the ideas here can help you enjoy hot beverages without spending too much or getting too much caffeine.

DPP

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Pinch Like You Mean It! Free eBook

Pinch Like You Mean It!  101 Ways to Spend Less Money Now

by Dr. Penny Pincher

Read this eBook it in its entirety here on Penny Pincher Journal- just click on the table of contents below to navigate.

You can download this 135 page book, a $3.99 value, to read on your favorite eReader or as a PDF file by requesting your free book.  You will also get a bonus book: Uncommon Cents: Weird Ways yo Save A LOT of Money.

Pinch Like You Mean It! is all about ways to spend less money.  Why give so much of your hard-earned money away by spending it?  Get 101 tips on how to spend less right now.  Topics include duct tape and other cheap repairs, how to get furniture for almost free, what steps to take in a financial emergency, and many tips on practical ways to spend less money every day.  When can you save money by applying for a credit card?  Check out tip #82.  What frugal tip did Lizzy Borden's father teach Lizzy the night before the infamous ax incident?  Read tip #72 and find out...

Table of Contents

Dedication
Introduction
Disclaimer
Tip 1: Avoid sales tax on food
Tip 2: Save big at Kohl’s
Tip 3: Save 10% on milk
Tip 4: Make coffee at home, save over $500 per year
Tip 5: Pack lunch instead of eating out
Tip 6: Sharpen disposable razor blades
Tip 7: Cut cable TV or satellite TV
Tip 8: Buy less gas for your car
Tip 9: Enjoy cheap- or free- exercise
Tip 10: Save when eating out
Tip 11: Get pets at the animal shelter for almost free
Tip 12:  Have less stuff
Tip 13: Haircuts at home
Tip 14: Walk instead of drive
Tip 15: Credit card points
Tip 16: Avoid dry cleaning
Tip 17: A Subway $5 footlong is a good deal
Tip 18: Use energy efficient lighting
Tip 19: Improve home insulation
Tip 20: Reduce your house payments with a mortgage re-fi
Tip 21: Buy used items and save
Tip 22: Stop making car payments
Tip 23: Avoid recreational shopping
Tip 24: Cut small unnecessary purchases
Tip 25: Utilize free resources at your library
Tip 26: Free or cheap hobbies
Tip 27: Get an artificial Christmas tree
Tip 28: Plan meals, shop with coupons
Tip 29: Drop newspapers and magazines
Tip 30: Staycation instead of vacation
Tip 31: Stop buying lottery tickets
Tip 32: Stop smoking
Tip 33: Take shorter showers
Tip 34: Find out where your money is going
Tip 35: Avoid boarding your pets
Tip 36: Get multiple estimates for home improvement projects
Tip 37: Get enough sleep
Tip 38: Eat less
Tip 39: Cut down on travel
Tip 40: Install a programmable thermostat
Tip 41: Chew gum instead of eating a snack
Tip 42: Switch from soda to free water
Tip 43: Cut down on coffee
Tip 44: Pay off high interest credit cards first
Tip 45: Negotiate on hotel rates
Tip 46: Take advantage of kids eat free nights
Tip 47: Inexpensive foods that are healthy
Tip 48: Free stuff
Tip 49: Buy fewer things, but better quality
Tip 50: Avoid expensive clothing brands, especially jeans
Tip 51: When to buy food items at convenience stores
Tip 52: Sell unneeded appliances
Tip 53: Wait to buy materials for projects
Tip 54: Don't go for a test drive unless you want to buy a car
Tip 55: Watch out for high pressure sales pitches
Tip 56: Save on insurance with bundle discounts
Tip 57: Don't carry small bills
Tip 58: Wait 48 hours to buy
Tip 59: Use a black permanent marker to revive old clothes
Tip 60: Carry your best coupons in your wallet or purse
Tip 61: Spend more thought and less money on presents
Tip 62: Reduce/avoid knick knacks and collectables
Tip 63: Consider downsizing to reduce expenses
Tip 64: DIY projects to save money
Tip 65: Shop around for the best deal
Tip 66: Take good care of your teeth
Tip 67: Grow your own food in a vegetable garden
Tip 68: How to cut expenses quickly in a financial emergency
Tip 69: Carpool to save on vehicle expenses
Tip 70: Keep your car clean
Tip 71: Try not to move
Tip 72: Use old clothes for rags
Tip 73: Donate unneeded items and save money on taxes
Tip 74: Buy generic- why pay for advertising?
Tip 75: Don't go grocery shopping hungry
Tip 76: Get free checking, avoid bank fees
Tip 77: "Bank" at a credit union rather than a bank
Tip 78: Turn off unneeded lights and appliances
Tip 79: Can you eliminate an extra vehicle?
Tip 80: The art and science of the store return
Tip 81: Discount programs at grocery stores
Tip 82: When to apply for a credit card to save money
Tip 83: Fun night at home
Tip 84: Pizza can make you happy
Tip 85: Use coupons for oil changes
Tip 86: Get furniture for almost free
Tip 87: Shop on tax free day
Tip 88: No more late fees
Tip 89: No more postage
Tip 90: Duct tape and other cheap repairs
Tip 91: Repair shoes instead of throwing them away
Tip 92: Rent a truck instead of buying one
Tip 93: Get building materials for free
Tip 94: Save hardware odds and ends
Tip 95: Bake and decorate your own cakes
Tip 96: Stay off the hamster wheel
Tip 97: Avoid spending deathtraps
Tip 98: Don't throw away all the old batteries
Tip 99: Buy less stuff that is made to be thrown away
Tip 100: Use fans to lower your bills
Tip 101: Read Penny Pincher Journal
About the Author
Connect with Dr. Penny Pincher

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Dedication

Dedication

To my sons who impress me all the time with their smart decisions with money.  These guys really know how to save money and avoid wasteful spending.  I wonder where they learned to do that?


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Introduction

Introduction

Why would a guy who likes saving money write a free book?  I once read there are only two reasons to write:  to make money or to be read.  Giving this book away free sort of eliminates the first reason...  So I must be writing this book for the second reason- to be read.

I think the price of my first book published about 10 months ago at $3.99 has kept a lot of people from getting to read it.  People looking to spend less money are not eager to spend money buying a book, even one that is a great value at $3.99...  A free book about spending less money should be far more appealing to those trying to spend less money than a book that you have to pay to read.

I started writing this book on my cell phone on an airplane flight- with my phone in “airplane mode”, of course...  While trapped in my seat for a couple hours I started typing a list of ways to spend less money and ended up with 101 tips. After I landed, I added some description, stories, and details to each tip to create a resource to help people spend less money.

The tips on saving money in this book can be used to save money, of course, but they can also help you think about money and spending in a different way.  Things look different when you have your debt and spending under control.  New possibilities open up.  You have more freedom and less stress.

I currently use many of the tips provided in this book to save money.  A few of the tips are good ideas that I am working to accomplish as I improve my penny pinching abilities.  Sometimes life happens and I spend money that maybe I shouldn’t.  Just this week I spent quite a bit of time and money at the vet’s office helping my sick dog.  There is always a balance between trying to avoid spending money and doing what you really want to do.  Use these 101 tips to help find and eliminate wasteful spending, leaving you with more money to do the meaningful things you want to accomplish and save for a bright future.

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Disclaimer

Disclaimer

The information presented in the book is for informational and entertainment purposes only and does not constitute financial, accounting, medical or legal advice.

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Tip 1: Avoid sales tax on food

Tip 1: Avoid sales tax on food

Buying food at a convenience store is rarely a good idea, but if you do, here is a tip to avoid paying sales tax on food items.  Back in college, I would sometimes get a "grinder" burrito at a convenience store, not a bad lunch for about $1.00.  If you paid for the burrito before microwaving it, it was considered a grocery item and there was no sales tax.  If you microwaved it first and then paid for it, you were charged 6% sales tax since it was considered a prepared food item.

Of course, saving 6 cents on a burrito is not going to change your life, but if you can save 6 cents every time you get a burrito, savings can add up over time.  The point is not to pay more than you need to pay for anything and hold on to the savings, no matter how small.  Wasting money is a bad habit- I try to adopt a "zero-tolerance" policy for wasting money.  I suppose some would say I could save even more money by either not buying the burrito, or by buying the burrito somewhere else- you can get a burrito for 79 cents at Taco John's on "Taco Tuesday", or probably make one at home for about 35 cents.

It is always a fuzzy line between "needs" and "wants".  If you want to participate in the world, you need to spend some money.  You have to find the right balance for yourself.  On that particular day, buying the $1.00 burrito at a convenience store was just what I needed.  I could have spent less on lunch that day, but it would have taken more time and I wanted to use my time for studying and other things.  At least I spent the least I could on the burrito by avoiding paying sales tax.

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Tip 2: Save big at Kohl’s

Tip 2: Save big at Kohl’s

Kohl’s is a national chain store that sells clothes and small appliances.  They have lots of clearance sale items and also have great coupons.  Kohl’s has coupons for 15%, 20%, and 30% off that apply to all items in the store, including clearance items.  When I get a 30% coupon, I like to keep it in my wallet in case I need to buy something- 30% off is usually a pretty good deal.  I have picked up some really cheap clothes at Kohl’s from the clearance rack and then 30% more off of the clearance price.  Another benefit of shopping at Kohl’s is Kohl’s cash.  You get $10 Kohl’s Cash for every $50 that can be used during a certain time window.  I once got a nice polo shirt for free with Kohl’s cash I received from buying clearance items.

Believe it or not, I found the hat that I wear in all of my Dr. Penny Pincher photos in the clearance section at Kohl’s.  With all of my coupons, I ended by paying less than $3 for my favorite hat.  It seems really appropriate that Dr. Penny Pincher wears such a cheap hat!

One time, my brother was visiting from out of town and was interested in looking for a coat.  He is particular about the design of the clothes he buys and also insists on spending very little money.  We went to Kohl’s and went through their clearance racks of many, many coats.  We found one that was just right, and not very expensive.  Kohl’s was the right place to shop for clearance coats.

If you have Kohl’s in your area, check it out.  Explore the store and look for the clearance racks and bargain areas- you might be able to find some cheap clothes and good deals there.

Stores give out coupons to make money for the store- how does that work?  The coupons get shoppers into the store who otherwise would not be there.  The store may lose some money on people who buy only items with coupons, but many people will buy other items as well and result in a profit for the store.  The stores know what they are doing- be careful chasing bargains with coupons.  Once you are in the buying mode, you may end up buying extra items and spending more money than you planned as a result of coupons.

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Tip 3: Save 10% on milk

Tip 3: Save 10% on milk

My local independent grocery store has a punch card for milk.  You get a punch for each gallon you buy.  When you get 10 punches, you get a free gallon.  This is a savings of 10% or about 30 cents per gallon.  The savings on each gallon isn't much, but over time it adds up.  See if you can find a store that is handy and has milk punch cards or other discount programs that you can use to save money.

Some people are not willing to bother carrying coupons or punch cards- it is too much trouble.  I am not one of those people.  I carry a few coupons and punch cards in my wallet all the time, and have probably saved hundreds of dollars over the years doing this.  I have a small accordion file that I use to keep a larger collection of coupons.  Much to the embarrassment of my family, I sometimes carry the accordion file with me in stores when shopping.

A little inconvenience can go a long way.  Whenever I see a punch card or other discount program offered at a store, I check it out.  Often, programs do not help me with items I already purchase, so I don't sign up.  But sometimes I find one that works for me- like the milk punch card.  See if you can find extra discounts that work for you on items you already buy.  I would much rather keep that 30 cents per gallon of milk for myself instead of giving it to the store.

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Tip 4: Make coffee at home, save over $500 per year

Tip 4: Make coffee at home, save over $500 per year

This is one of my favorite ways to save money.  I grind my own beans and make coffee at home.  It costs about 60 cents to make a great 16 oz cup of coffee at home vs. about $2 at a coffee shop.  I still get coffee at a coffee shop on occasion, but making it at home most of the time results in savings of about $45 per month.  For me, this is worth doing.

In addition to saving money, I have learned to make better coffee at home than you can get at a coffee shop.  I use fresh beans and grind them myself just before brewing.  I use filtered water and brew the coffee using a cone filter in a coffee maker with a thermal carafe.  When ready, I place the coffee in one of the best thermal coffee mugs that you can buy.  All of the equipment I use may sound expensive, but costs very little compared to the cost of buying coffee at a coffee shop every day.  My very nice coffee maker cost only $45, and my grinder about $30, and my thermal travel mug about $15.

Making your own coffee at home not only saves money, but saves time as well.  It takes time to drive to the coffee shop, place your order, pay for your coffee, wait for your coffee, and drive to work.  It only takes a few seconds to grind my beans and start my coffee brewing while I do other things.  When I am ready to go, I just pour the hot, fresh, delicious coffee in my mug and go on my way.  I wish it were morning so I could make some coffee now.

Making your own coffee is one of those ways to save money that depends on forming a new habit.  If you are in the habit of walking to the coffee shop during a coffee break, or going through the drive-through window of a coffee shop on the way to work, it will take effort to break that habit and establish a new habit of making your own coffee at home.  This is worth the effort, because you can save a lot of money over time.

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Tip 5: Pack lunch instead of eating out

Tip 5: Pack lunch instead of eating out

Another big money saver is bringing lunch from rather than eating out.  It takes some effort and planning, but the savings are significant.  You can easily save $5 per day or more by bringing your own lunch and snacks.  Bringing lunch from home is also a lot healthier than eating out.  It is too easy to end up with burgers and fries when eating out.

I still go out for lunch a few times a year for special occasions.  Sometimes it is fun to do something with your friends from work, but I like to pack my lunch for everyday lunches.  Depending on where the gang is going, you might be able to take your lunch from home with you.  One time, I took my giant lunch box with some grilled pork chops from home to a fast food place to eat with others.  I had a healthy- and cheap- lunch from home and got to eat out with my friends too.

Compared with making your own coffee, making your lunch every day is a lot more work.  That’s OK, because you can save a lot of money.  At $5 per day for 20 week days per month, you can save around $100 per month which adds up to $1,200 per year.

Sometimes you can make lunch at home for free.  I’m talking about leftovers.  I am pretty good at packing up leftovers in tupperware containers after dinner each night- there is almost always something that I can take with me for lunch.  For days when leftovers do not work out, I like to have some sliced meat and cheese to make sandwiches and some fresh fruit such as apples and bananas.  Apples cost about 75 cents each and bananas cost about 25 cents each.  I also like peanut butter and honey sandwiches and soy-nut butter and cheese sandwiches on wheat.  Sometimes I don’t have much time to get creative, but want to take enough along so I won’t get hungry and want to buy food.

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Tip 6: Sharpen disposable razor blades

Tip 6: Sharpen disposable razor blades

Disposable razor blades are expensive and don't seem to last very long.  Did you know you can sharpen them up just by rubbing them backwards against your skin?  I run the razor 20 times along my forearm and then 20 times along a towel.  This process keeps the razor sharp.  I don't think this actually sharpens the blades, but does keep them straight, clean, and dry which makes them last for a long time.

My wife usually keeps me supplied with razor blades, but one time I had to buy them myself and realized how expensive they are.  I considered using cheaper disposable razors, but then came across the idea of stropping disposable cartridge blades to sharpen them.  The concept is similar to sharpening a straight razor on a leather strap.  Keeping your disposable razor blades sharp by taking care of them is an example of applying some free maintenance to an item to make it last much longer and save money.

Note: if you try sharpening disposable razor blades, be sure to run the blades backwards along your skin.

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