My last post was about my decision of going back to school and the changes I had to make in order for that to happen. One of those things was cutting costs so I could lay off the full time employment. Below, I have shone a light on some of the costs I have already cut and some I am in the process of cutting. It turns out that when you sit and think about it, you conclude that you can give a good trim to those utilities you once thought you had to have or could not live without.

Water: Like mentioned on the TV show Home Improvement, putting a quarter gallon container filled with water in the toilet bowl, reduces the amount of water used every time one flushes. Also, low-flow shower heads reduces the use of water while still providing enough pressure for a nice and thorough shower.

Electricity: Replacing incandescent light bulbs with fluorescent bulbs reduces power consumption. A 20-watt fluorescent light bulb provides as much light as a 100-watt incandescent bulb, while reducing the electricity usage to 20%. Fluorescent lighting is more expensive, but the savings it will yield over a year’s time, will make up for the expense many times. Also, it is important to power off any unused appliances and shut off the lights when one leaves the room. Putting up storm windows or (like I do) using large trash bags with tape, to cover up the windows is an excellent way to keep the cold winter air from sneaking into your home; add in a programmable thermostat and your electric costs will go way down. For those who use oil, well that’s yet another bill reduced.

Cable TV: In today’s decaying economy people spend more time working than at home. Therefore, it is not really necessary to pay for hundreds of channels. I myself, have basic cable and a subscription to Netflix, reducing cable costs to about $33, well below 50% of what I used to pay. Some people eliminate cable completely and watch Over-The-Air programming with an antenna (keep in mind the change to digital in’09), others rely only on Netflix and Blockbuster subscriptions.

Phone: It always sounds nice when you pay one relatively low price for multiple features, like long distance and call waiting; but most if not all of these feature are not used everyday so I can’t help thinking that I’m over paying for my phone service. I have basic service that only includes local calling and I use phone cards to make international and out of state calls. This reduced my bill from about $43 to just under $20 plus the cost of the card.

Discount Purchases: Every time I go to the pharmacy I receive a coupon with my receipt; this usually offers a savings of a few dollars, and when you or a loved one uses prescriptions drugs (therefore frequent the pharmacy) the coupons can be very beneficial as those savings over a year’s time can add up. Many supermarkets offer discount cards, newspapers come with coupons and there are countless websites that offer electronic coupons. Special occasions like Christmas and other holidays bring a number of sales and (my favorite) free or reduced shipping costs. Buying wholesale products and commercial brands can be a big money saver too. Stores like Wal-Mart and Sam’s Club sale no-name-brand products, in bulk, at half the price of name brand products.

Car Pooling: This is a great way to help the environment and save cash. One significantly reduces pollution and in times like these, when the cost of living is sky high one can reduce visits to the gas station. I ran across a website that, by imputing you zip code, shows the station with the lowest gas price.

Cutting costs does not have to turn your life upside down. If done correctly, it can be a terrific experience that will provide you with the ability to learn and do other things.

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