Wining Money Saving Techniques – Do-It-Yourself

One of the best money saving techniques is to start doing your self things and services you’ve got used to buy. Sometimes the best place to save money is just under your nose.

Most of us got used to pay others to do things for us. Before putting your hand into the pocket ask yourself two simple questions:

1. How much time do you have to work in order to pay for these services?

Remember – you are paying from your Net income. Calculate the amount of time you need to work in order to earn this Net income. You may find out that you need to work an hour to pay for something that can be done in 15 minutes.








An alternative to this is to calculate the real cost of the service in terms of Pre-Tax income. If I pay 25% income tax, then in order to pay for a $100 service (from my Net income) I need to earn $125. This is the real cost of the service to me. Does it really worth it?
2. How much money can you save monthly/annually by doing it yourself?

Even small amounts, multiplied all over add up to considerable amount of money!

There are numerous services we got accustomed paying for. We use them without giving it a second thought. Now is the time to change your behavior. Give it a second thought!  Do the Math!

Following is a very short list with DIY examples & money saving techniques. There are so many more. Be creative and don’t be afraid to try.

Wash Your Own Car
Save $15-$20 for a 15 minutes work by washing it yourself.
Even better – have your kid do it. Pay him. The money stays in the family, and your kid gets some financial education of the way.

Do you earn $60 an hour? This is what you are paying someone else to do your job.
A weekly car wash accumulates to $800-$1000 annually!

Mow Your Own Lawn
Same logic and saving as in the previous item…

Paint Your Own Home
Same logic and saving as in the previous item…

Clean Your Own Carpets
You can hire a machine at a fraction of the cleaning bill, and you may do a more thorough job.

Refill Your Own Ink
Ink refill kits are becoming very common. You can buy a refill kit that can lat 3-4 fills at less then a third of what you would pay for a new one.

The refill kits come with a very detailed manual, and they are almost hassle-free.
After the first or second time, it will take you less then 5 minutes to refill a printer’s head.

Depending on how much you print – there’s a considerable amount of money you can save here.

Afraid to try? You can always switch to recycled cartridges. They usually cost more then the refill kits, but they are still half price then the original ones.
 

More DIY Ideas
Consider preparing yourself food items you are used to buy.
There are many benefits to it:

• You get to control the ingredients. Say goodbye to preservatives, artificial colorants, trans fat, sodium and much more unhealthy stuff
• It is much healthier.
• It tastes better.
• Do it together with the family members. Strengthen the bond between yourself, your spouse and your kids.

Here are some examples for things you can prepare yourself:

• Bake your own cupcakes
• Bake your own cookies
• Bake your own bread
• Make your own ice cream

Take a Packed Lunch to Work
You don’t have to give up buying lunch altogether. Once or twice a week will do just fine.

With an average lunch around $10 and 52 weeks in a year, you get to save $500 – $1,000.

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There are many more practical money saving techniques. Purchasing items and services online is one of the easiest ways to save money. Read more about online shopping tips.