$20 Lady: 10 ways to save (at least) 20 bucks this month

My job as the $20 Lady is to tell you, every other week, ways to spend “just” $20 on things that typically — or which you expect to — cost more.

But I feel I’d be remiss in always telling you to spend without telling you how to save.

Following are my tips on saving that $20.

1. Have a “buy nothing” day once a week. Leave your cards and cash at home so you have no choice but to follow through. You’d be amazed at how quickly those little purchases from the soda machine at work or that pack of gum at the gas station add up. Most average spenders would be able to save $20 in one month by foregoing one day of spending a week. Pick a weekend day and you’ll likely recognise savings quicker.

2. Brown-bag it. The average school lunch costs anywhere from $3-$5 and the average fast food lunch anywhere from $7-$10. For a family of five, just one day of packed lunches will save more than $20 (and allow you to lessen food waste by packing leftovers!)

3. Buy store-brand or no-name. Everyone has a few items they must have in a brand name: ketchup, mayo, orange juice. Yet, typically, the store brand is so similar to the name brand the only difference is the packaging. This is especially true of over-the-counter medications where just one purchase of a large bottle of painkillers can save $5 or more.

4. Use cold water. About 90 per cent of the energy cost in washing your clothes is heating the water. Cold water washes just as well, especially with today’s machines. You can save anywhere from 20 to 75 cents per load by washing in cold. And your clothes will last longer too!

5. Make your own coffee. Not only does that double-double cost more than double what making your own cup costs, if you’re using the drive-thru, the idling time is burning gas and adding wear to your car. And if you’re entering a café to make the purchase you’re more likely to buy something else with your coffee. Not to mention your coworkers and friends will never expect you to pay for the coffees if you’re bringing them from home!

6. Bottled water is a waste. Seeing as we’re speaking of drinks … does anyone still buy bottled water? It’s usually just filtered tap water in a bottle you’re paying a recycling fee for. Buy a single reusable water container and fill as needed. Same goes for your child’s juice-boxes; you can save both cost and recycling fee by using a reusable bottle and mixing frozen concentrate with tap water. Not many things in life are free, but water still is, thank goodness. And while we’re on the subject ...

7. Cut down the drinking. If you’re a weekend wino, spend one weekend a month not drinking wine and you’ll save $15 or more right away. If you’re more the downtown type, cut out one weekend and you’ll save more than $20. Even the liquor cabinet connoisseurs can save by cutting out one or two drinks a week or month.

8. ... and the smoking, too. As with alcohol, you don’t need to go cold turkey to realize savings. A pack-a-day smoker can save $20 in one week just by cutting out five (or fewer, depending on the brand) cigarettes a day. That still leaves you with about a cigarette for each hour you’re awake. If that’s not doable, cut out two cigarettes a day and you’ll save $20 in two weeks instead.

9. Use points cards. Most stores provide them for free. Some gas stations give you immediate gas savings each time you use a card. Some stores allow you to amass points for future purchases. Sure they’re a pain in your wallet, but I just put all mine in a coin purse separate from my other cards and pull out as needed.

10. Inflate your tires. Yeah, that $1 air machine at the gas station seems like highway robbery, but keeping your tires inflated to your car’s suggested pressure can result in savings at the pump: anywhere from three per cent to 11 per cent of your gas costs. Even with today’s lower prices, that’s $2 to $7 per fill for a 70L engine. Check out local garages for free air pumps.

Save by not spending

Many of the recommendations you see for saving money ask you to spend to save: buy energy efficient appliances or vehicles, switch to digital thermostats, replace your light bulbs with costlier ones.

But, really, the best way to save is to not spend at all.

It’s simple math. Compare prices at the grocery store. Call around about your insurance. Go without luxuries.

Even cutting down on your “extra” expenses will result in savings over a week or month.

It might not seem like much at the time, but saving $20 a week means you have $1,040 more at the end of the year.