Everyday Cheapskate

Want to know the easiest and fastest way to put some money back into your wallet? You might think the answer is to earn more. But that’s not as simple as it sounds.

First, you have to work those additional hours or find a second job, which these days is not all that easy to do. But let’s say that you can. You’ll have to wait at least a few weeks to see the extra cash once taxes are withheld and payday rolls around. And don’t forget the added expenses that come with working more — things like gasoline and child care. A much better way is to cut your expenses. Every dollar you don’t spend is a tax-free dollar you get to keep.

Here are six simple ways you can give yourself a raise, starting today!

Get free checking. Despite what you might be hearing about banks increasing fees, about one-third of banks still offer this freebie. Your best bet will be at a small community bank or credit union that doesn’t charge $10 to $15 a month for the privilege of having access to your own money.

Don’t idle. Automotive experts tell us that for every two minutes your car idles, you burn as much fuel as driving one mile. With gas prices flirting with $4 a gallon nationwide, 10 minutes of idling may be costing up to $1 a day. If you’ll be waiting longer than 30 seconds, turn off the engine.

Calm down. Aggressive drivers accelerate hard, brake sharply and basically tear through a lot of fuel needlessly. Calm drivers stay at or below posted speed limits around town, accelerate cautiously and anticipate stopping by slowing down.

Doubt the tag. Here’s a shocker: 65 percent of all clothes taken to the dry cleaner are actually machine-washable, according to one national study. Unless the label says “Dry Clean Only,” follow the care directions listed. If you wash just two items you’d normally dry-clean, you’ll save at least $10 a month.

Pay early. If you carry a credit card balance, the sooner you send in your monthly payment, the less interest you’ll pay, because interest compounds daily. Say you have a $10,000 balance, your minimum payment is 4 percent ($400), and your interest rate is 29 percent. If you pay $400 on the last day of the billing cycle, your interest will be $160. But if you pay on the second day, the interest is $8 less and the balance of your payment will reduce the principal.

Turn off the computer. According to energy use experts, standby mode uses about $3 a month in electricity per computer. Plug your computer and printer into a power strip, and then flip off the switch when you’re not using them and enjoy the savings.

Would you like to send a tip to Mary? You can email her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Include your first and last name and state. Mary Hunt is the founder of www.DebtProofLiving.com and author of 19 books, including her January 2012 release “7 Money Rules for Life.” To find out more about Mary and her past columns, please visit the Creators Syndicate Web page at www.creators.com.

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