Extreme savings - MoneySense

Extreme savings

People who are determined to save will go to extreme lengths to avoid spending money


Mrs. P. wrote to me to ask why I hadn’t told people to potty-train their cats as a way of saving money. “It used to cost me almost $200 a year for litter,” she wrote. That’s money Mrs. P. is now happily sending to her TFSA.

Think about it, if a cat lives for about 15 years, and you litter train it in year five, (cos you just found out you could do this) that’s $2,000 available for savings.

So what other lengths will people go to in order to save money?

Rumour has it vegetarians save money on food. Never mind the health benefits of eating more fruits and veggies, giving up meat (and I mean meat in the broadest sense) can leave you with some extra dough. Even going meatless two or three days a week can knock big bucks off your food bill. Unplugging unused appliances is another way to trim costs. Even when your appliances aren’t in use, if they’re plugged in they’re using electricity. And some appliances are energy pigs. Did you know your DVR is using more power than your fridge? That tiny little box. Go figure.

Using students for services ranging from hair care to teeth care can save you a whack of cash that you can add to your savings. Check out local cosmetology or dental schools. Just remember, you get what you pay for.

Then there are the folks who store their candles, batteries, and pantyhose in the freezer to extend their lives. Or people who cut their own hair. Or folks who save on water by not flushing the potty until there’s a log floating inside.

How do you find the money to save? Would you go to extremes to put an extra $500 into your savings?