How to Save $20 a Day
Saving money is one of the first steps you can take to get your personal finances into a healthy state. Saving $20 a day is a great first step toward your goal of financial independence!
The first step will be to make more than $20 a day. If you aren't making more than $20 a day then skip over here and read about ways to make some money. If you are making more than $20 a day then you are all set to read on.
Easy Things (you might need a few of these to get up to $20)
Make your own coffee
Buy in bulk (especially for your pantry)
Use Keepa to price watch
Cancel anything you pay for monthly and don't need (I'm looking right at you cable bill)
Spending freeze (pick a few days a week to freeze any spending)
Carpool
Brown bag your lunch
Use a coupon
Ask your neighbor to borrow their tools (I'm guilty of buying a bunch of one-time-use tools)
Turn off the lights and anything else that doesn't need to be on
Check your tire pressure
Buy generic
Change your lightbulb (LED bulbs are super energy efficient)
Wash your car by hand
Cut your own veggies
Hang your clothes to dry (double benefit here is your clothes last longer)
Sell old clothes, or donate them and track it for a tax writeoff
Ask for a discount when buying something
Buy children's clothes while on clearance at the end of a season (its Spring, so buy Winter clothes now and make sure they are a size or two larger than what they are wearing now)
Harder Things
Start a garden
Shop around for things (insurance, mortgage, cell phone plan, gym membership)
Skip the movies
Don't pay for anything to drink (drink the free stuff, water!)
Stop smoking (your home insurance costs are typically lower if you don't smoke)
Change your own oil and air filter
Eat less meat, it is expensive
Make your own baby food
The goal of saving $20 (or at least spending $20 less per day than you would have otherwise) is to put that money aside for something. If you invest it, at a 7% return, you will have over $300,000 in 20 years. If you put it in a savings account with no interest you will have $7,300 at the end of one year.