Shoestring Life: How Low Can My Expenses Go?

Melissa and I have decided to forgo investment funding in order to keep Shoestring close to the vest. Unfortunately that means we're living a very lean life. I'm not going to lie, I've done some really extreme things to cut back on daily expenditures so Red and I can still spoil ourselves. We've all heard the same basic tips over and over again.

• Unplug all appliances when not in use, or plug them into a power strip that can be turned off to prevent vampire power.
• Wash your clothes in cold water
• Use a programmable thermostat
• Install CFL-- compact fluorescent lights
• Drive at a steady speed
• Buy generic when possible
• Use reward cards
• Use ceiling fans

We've all heard them before, and they're all good ideas. Even small amounts of money can add up to something bigger. But, what do you do when the small amounts aren't adding up fast enough. Are there bigger things we could be doing to cut daily costs. I thought about the couple who lived off $1 a day for food. I initially was taken aback, but the more I think about it, the more I like the idea behind it. So I've decided to try and turn saving money into a game. But, not just any game, an extreme reality show game. I envision it as a piggy bank playing with a limbo bar. How low can my household expenses go?

1. Red and I turn off the hot water heater when we're not using it.

We try and only turn the hot water heater on once during the week. We take quick showers and less of them. You'd be amazed at how long the water stays luke-warm. We've managed to cut our electricity bill by $50 a month or more.

2. I've started saving bottles and cans that can be redeemed for cash.

I've also started scavenging the recycling bins at my condo to collect other people's redeemable bottles. Saturday and Sunday mornings are the best, because of raging parties the night before.

3. I've been shopping at the Wonder Bread outlet.

Bread is expensive. I can get a loaf for under a dollar, and two packs of bagels for five. I stash up, and freeze the extras.

4. I make my own cleaning products.

I use lemon juice to dissolve soap scum, and hard water deposits
I scrub stubborn grease stains, and that unidentifiable mess in the bathroom with baking soda.
For pretty much everything else I use vinegar mixed with water. Vinegar is a natural disinfectant as well as a deodorizer.

I've heard that you can use vinegar in place of fabric softener. Add ½ cup of vinegar to the rinse cycle in place of store bought fabric softener. I've never tried it, but I'm certainly curious.

What is the most extreme thing you've ever done to cut costs around the house? Being "cheap" is something we should embrace, not be ashamed of. Plus I need more ideas.

~Meghan

Comments

[Condo Blues]

I'm more concerned w/ static cling than soft laundry so I use a couple of tennis balls in the dryer instead of dryer sheets. Works great and the price was right - free. Someone gave me the tennis balls for my dog but he likes only soft toys so I grabbed them from the dog toybox, popped them in the washer and started using them in the dryer.

I used to shop at the Wonder Bread outlet until I found Aldi, which is cheaper. I buy our staples there.

My "cheapest" thing is that I reuse food bags for doggie pickup bags. After I started using reusable shopping bags (which I got free from events as swag bags) I ran out of plastic shopping bags that I used for pickup. We have leash laws, so leaving it is a no no and rude. I started using empty frozen food bags, bread bags, dried bean & popcorn bags etc. for daily pickups. If the bag is too small to knot at the end, I use a bread twist tie.

[Stephanie]

Hi Meghan,

This is just the thing on my mind today. And here's my favorite money saving tip. For people who pay for cable or satellite, ditch it. Right now. Immediately. Don't pay another day for TV. We were completely addicted but needed some concrete ways to save money.

We discontinued satellite and bought an adapter cable for the laptop to hook up to the TV. Now we watch TV through Hulu and ABC.com (Watching "Lost" this way is actually better than via satellite. Better picture. HD!)

Now, not only do we not pay for TV, we also don't waste so much time just sitting in front of it hours on end.

That's my favorite tip. I hope more people comment because I'm always looking for more!

Question about the vinegar, though... doesn't the smell bug you? I used to wash the hardwood floors with a mixture of white vinegar and water. They looked great, but the smell was so pungent. Any advice?

[Meghan Udell -- Shoestring Magazine]

Hi Stephanie

I find that if you add a little bit of lemon juice to the vinegar and water mixture it cuts way down on the smell.

Thanks for the tips

~Meghan