You Asked: Part 1

You know me.  I’m always exploring new ways to save money and I’ve got the credit card bills to prove it.

The cover of the December 2012 AARP magazine lists an article about saving $10,000 annually with easy household tricks.  Of course this was the first article I turned to.

Author Jeff Yeager asked the question, “Can you Really Save $10,000 a Year?”

Can I?  How close might I come?  I decided to answer that question for my situation.  Since his suggestions required some research and calculations on my part and I don’t want to tax your interest (bore you), I’ll break down my findings into two parts.

In Part 1, I’ll address Jeff’s first four suggestions.  In Part 2, I’ll tackle the final four suggestions and come up with my estimated annual savings.  I don’t think it will be $10,000.  Note: I’ve summarized his suggestions.  If you want to read the original article yourself, it’s the issue with Reba on the cover.

So here goes.

Suggestion 1: wash clothes in large loads in cold water and hang outside to dry. Estimated annual savings $200.  As a child I loved helping my mom take down the clothes from the line especially in winter.  I got a big kick out of holding frozen diapers up in the air like a board.  I’m not sure my mom, mother of four with two in diapers, shared my enthusiasm for winter laundry.

I already wash large loads in cold water so washer savings is a wash.   I use my dryer about 2.5 X weekly.  At $0.57 per load and deducting three weeks for vacation, that amounts to about $70 annually.  Factor in the purchase of a 30 line clothes dryer $50; 10 lbs of Quikrite®  to anchor the clothesline post $11; ibuprofen and a 20 minute chair massage after digging anchor hole and cementing anchor $25

My estimated first year savings: -$16.   Following year savings $54 ($70 – $16)

Suggestion 2:  Fire up the backyard grill, then dine out/use carryout half as often.  Estimated savings $1000 annually.  Okay I eat in restaurants now and then, I like to eat breakfast out and I frequently buy carryout.   Based on my 2011 spending, I’ll save $500 annually by cutting this extravagance  in half.  Factor in the purchase of a gas grill $280; propane tank and hookup hose $87;  increased food budget for  grilled meat and chicken $250 annually; 20 minute chair massage after setting up gas grill $20 (I already have the ibuprofen).

My first year estimated savings:  -$137.  Following year savings $93 ($500 less the 2013 deficit, a $20 propane refill, and food costs).

Suggestion 3.  Mind your heating/cooling and water heater.  Estimated annual savings $500.  I already set  my thermostat 3 degrees colder in winter and 3 degrees warmer in summer and I have an on-demand  water heater.  If I were to cut $500 from my annual electric bill and deduct $70 for not using my dryer, my monthly electric bill will be $21.  I don’t think that’s going to happen, so I’ll just call this one even.

My first year estimated savings: $0.0

Suggestion 4: Unplug energy suckers that use electricity when turned off–all those things with little red lights or digital clocks.  Estimated savings $200 annually.  Okay, I don’t do this now, so here is an area of potential savings for me.  My annual electric cost less $70 non-dryer use = $749 X 7.5% estimated savings for unplugging = $56.18, less 75% for when I neglect to do this.

My first year estimated savings:  $14, but this starts right away.

Okay, using Jeff’s first four suggestion, I’m only $139 in the hole, which is an excellent savings for me and my typical money-saving projects.

My most recent financial outlay  was for a backyard water collection system and square-foot garden to grow my own organic vegetables.  This endeavor ended up costing about $50 apiece for one pepper, one strawberry, seven tomatoes, and three heads of lettuce.  And the water collection system doesn’t exactly work.  But those vegetables were delicious.

I’ll never say die–literally.  I’ll read the other AARP cover article, “Eat Well, live longer!”   I figure I only need to live another 35-40 years to amortize the cost of my vegetables.

Stay tuned.  I’ll continue with suggestions 5 – 8 in my next blog.