Debt Free

Cut your own hair. - OK, you probably do this for your kids, but what about using this money saving technique for yourself? (Men, don't try it for your wife!) Get a good set of clippers with guides and go to it. Not only will you save significant cash, but think of the time you'll save by not going to Fantastic Sam's or Hair Masters once a month. Savings = $18.00 / month + the hour and a half you get to use for whatever you want. If you take your kids in too, stop that as well. The savings will add up even faster.

In the summer, dry your clothes the old fashioned way; on a clothes line. Your dryer is one of the biggest energy users in your home. This will save energy in two ways: The energy you don't use in the dryer, and the energy you save by not having to cool your house so much. The neighbors may look at you a little sideways, like the looks Jed and the clan got when they relocated to 90210, but who cares?

Analyze how much things really cost before you do them. Include all those hidden expenses, like fuel and parking. This will just about make sure you never go out to do anything fun ever again! Seriously though, your entertainment dollars should be thoroughly scrutinized. For example, taking the family out for a movie once a month on Friday night, with those over priced treats, can get rather spendy. A family of five can easily drop $80 on a simple movie night in most metro areas. If you feel the cultural value of sitting in a dark theater together outweighs staying home and watching a DVD, at least make it a matin'ee.

Add those figures in your noodle for a second. $80 multiplied by 12 months is just a gnat's whisker shy of $1000! Every year! If you really want to spend money on something, it's predicted by industry insiders that loss leader 42” plasma TVs will by under $1,000 by this holiday season. You could skip the movies for a year, then stay home and watch the show on one of those! You'd at least have an asset, instead of movie memories, like fighting for a parking place and hearing the teenagers mashing behind you. In addition, flat panel TVs probably won't be able to depreciate too much more than they have already.

Stay focused when you go to buy something you need. It's so easy to spend twice what you intended by getting sucked in by POP displays or those sale tables. Treat shopping for a single item like a military mission. Go in quickly, stay focused on the objective, and get out. Home Depot and Lowe's are especially bad for me. They always seem to have so many things on those discontinued, returned or blem tables. Remember, you can't always save money by spending it, although it sure is fun to try!