With the current state of the economy, everyone is searching for methods to reduce. Making savings might require taking on some of the functions you previously paid outside contractors to do in-house. You can save hundreds of dollars or more every week by being more involved in the following tasks. Instead of concentrating on the tiny, infrequently purchased indulgences in life, cutting out significant, set monthly costs would provide more savings over time. This article will explore 20 chores you can do yourself to save money.
1. Organize Your Home
More than ever, individuals are turning to house cleaning services or part-time maids to help maintain a clean and organized home. A house cleaning service can cost anywhere between $100 and $1000 a week, depending on the size of your house and where you live. This weekly charge can be waived if you do some of the cleaning yourself. Almost every householder can perform gutter, window, and carpet cleaning tasks. Although it can require more effort and time, you can quickly save up to $4000 per month by doing this!
2. Make Your Own Tax Filings
The average cost for professional tax preparation services like those offered by Jackson Hewitt or H&R Block can range from $100 to $300 for a basic tax return. By opting to file taxes yourself, utilizing free or low-cost online software, you could save upwards of $300 annually, keeping that money in your pocket rather than handing it over just for the convenience of having someone else do your taxes.
3. Trim Your Yard
Lawn care services can cost anywhere from $32 to $68 per hour, depending on the size of your lawn and the services provided. Assuming a bi-weekly service, you're looking at saving up to $200 a month by simply mowing your lawn yourself. The initial investment in a good lawnmower pays off quickly when you consider the cumulative cost of professional services over just one season.
4. Clean Your Vehicle
The average cost of a car wash ranges from $60 to $100 for regular-sized cars and more comprehensive cleaning services can cost up to $175. If you wash your car twice a month, doing it yourself could save you a couple hundred bucks every month. With basic supplies, your investment could be as low as $20 for materials that will last several months, offering a clear financial advantage over the long run.
5. Perform Your Own Maintenance
Many chores related to house remodeling are doable by oneself. You may repair leaky plumbing, replace the locks, or paint the walls. I'm not advocating that you construct an extra wing to the house or tamper with the electrical wiring throughout the house. For those more complex problems, see an expert. If you can do basic activities independently, you can save $75 per hour. Consult an expert or pick up a book on home improvement. The amount of things you can accomplish around the house will amaze you.
6. Grow Your Own Vegetables and Herbs
Starting a garden can drastically reduce your grocery bill, especially if you focus on high-cost items like fresh herbs and vegetables. The initial cost for seeds and supplies might be around $50, but the savings can be substantial over the growing season, easily reaching several hundred dollars compared to buying these items at the supermarket.
7. Cook Meals at Home
Switching from dining out to whipping up meals in your own kitchen can pocket you a pretty penny. The average American spends about $232 per month eating meals prepared outside the home. By channeling your inner chef, you not only slash this expense but also take charge of your dietary intake. Starting with basic dishes and gradually adding complexity, the culinary world is your oyster. Imagine saving at least $100 monthly by simply dining in, equating to a substantial $1,200 yearly savings, all while enjoying quality family time over personalized, home-cooked meals.
8. DIY Home Decor and Renovations
Forgoing the professional interior designer or contractor for home makeovers can preserve your purse strings. Minor renovations, such as a fresh coat of paint, installing new shelves, or updating fixtures, can revamp your space on a budget. With material costs for painting a room averaging around $100 versus hiring professionals for $300 to $800, the savings are stark. Dive into the DIY wave, and with a modest investment in materials and a sprinkle of creativity, you could save hundreds to thousands, depending on the project's scale, all while infusing your home with a personal touch.
9. Manage Your Investments
In the era of digital finance, becoming your own investment manager can significantly cut costs. Traditional financial advisors often charge a 1% to 2% management fee on your assets. By directing your own investments into low-cost index funds or ETFs, which can have expense ratios as low as 0.04%, you keep more of your earnings. Assuming a conservative portfolio of $10,000, switching to self-management could save you up to $196 annually in fees, compounding to substantial amounts over the years.
10. Sew and Repair Clothing
The art of sewing not only mends fabrics but your finances too. The average American spends about $1,866 annually on clothing and services. By acquiring basic sewing skills to repair or even create garments, you could reduce this expense significantly. A simple sewing kit costs less than $30, potentially saving you hundreds by extending the life of your wardrobe and reducing the need for new purchases.
11. Plan Your Vacations
Bypassing travel agents and packaged tours can unlock significant savings on your adventures. Travel agencies often add a premium of 10% to 20% on top of actual travel costs. By orchestrating your own trips, from flights to accommodations, you could save this markup. For a $2,000 vacation, this DIY approach could easily reserve an extra $200 to $400 for experiences rather than fees, making your getaways both more affordable and personalized.
12. Brew Your Own Coffee
The daily café run is a silent budget drain, with the average American spending over $1,100 a year on coffee alone. Investing in a decent coffee maker and beans might upfront cost you around $100, but compared to the coffee shop habit, you're looking at a potential annual saving of over $1,000. Embrace the home barista life, and enjoy the luxury of bespoke brews without the premium price tag.
13. Cut Your Hair or Family’s Hair
Salon visits can quickly add up, with the average haircut costing between $40 to $60. Assuming a family of four gets haircuts every two months, this could tally up to $960 to $1,440 annually. Investing in a quality set of hair clippers for around $50 and mastering the art of hair trimming could drastically reduce this expense. Even halving salon visits can save hundreds per year, proving that a little DIY grooming goes a long way in bolstering your budget.
14. Host DIY Entertainment Nights
Swapping nights out for home entertainment can lead to significant savings. The average night out, including dinner and entertainment, can easily cost $50 to $100 per person. Hosting a movie marathon, game night, or DIY spa day at home could cut this expense to just the cost of snacks and drinks, potentially saving hundreds over a month. Encouraging potluck contributions further reduces the host's financial burden, making for an enjoyable yet economical gathering.
15. Make Your Cleaning Products
Commercial cleaning products can add up, with families spending an average of $40 to $50 monthly. Crafting your solutions from vinegar, baking soda, and lemon can cut this cost to under $10, saving up to $480 annually. Not only do these homemade cleaners lessen chemical exposure, but they also offer an effective and eco-friendly alternative to store-bought options.
16. Utilize Free Online Learning Resources
Formal education and skill development courses can be costly, with prices ranging from $100 for a workshop to several thousand for more extensive courses. Leveraging free platforms like Coursera, Khan Academy, and YouTube for learning new skills or hobbies can save substantial amounts, providing free access to quality education that otherwise might cost thousands in tuition or fees.
17. Opt for Manual Tools Over Power Tools
Power tools, while efficient, come with higher purchase prices and operational costs. A basic power drill can cost around $100, while a manual screwdriver set might be $20 or less. For occasional or light DIY projects, choosing manual tools can save on initial costs and electricity, offering savings over time without compromising on the satisfaction of completing projects yourself.
18. Refurbish and Repurpose Furniture
Buying new furniture is a significant expense, with even a basic new sofa costing upwards of $500. Repurposing or refurbishing existing furniture can dramatically reduce or even eliminate these costs. Investing in a $30 can of paint or new fabric for upholstery can transform your space for less than $100, saving hundreds compared to purchasing new items.
19. Walk or Bike Instead of Driving
The average American spends over $2,000 a year on gas alone. Opting to walk or bike for short trips not only saves on gas but also on parking and maintenance costs, which can add up to hundreds more annually. A quality bike or comfortable walking shoes can be a one-time investment of $100 to $500, paying for itself within months compared to the ongoing costs of driving.
20. Do Your Event Planning
Hiring an event planner for weddings or parties can cost between 10% to 20% of the total event budget, which can mean thousands of dollars for larger events. Taking the DIY approach to event planning allows for significant cost control, potentially saving thousands on venue, decorations, and catering by making more affordable choices and adding personal touches that enhance the event's meaningfulness without inflating the budget.