This post is part of a series called “13 Money Resolutions for 2013.” Today, let’s explore how you can cut down on waste in different areas of your life, ultimately helping you save more money with minimal effort.
Food
I’m committed to a zero food waste resolution, which was challenging to maintain over Christmas. My boyfriend brought a lot of food from the capital city, which had sat in his home for 10 days and was already going bad. Plus, I tend to overcook when I have guests. But I’m back on track now because wasting food is a big deal to me—I can’t stand it. Throwing out food is like throwing away money. Even wasting just a few dollars’ worth of vegetables each week adds up to $100 a year. The key is to buy only what you need and optimize your grocery shopping. For example, grabbing a pack of gum at the checkout is fine if you enjoy it, but buying 48 cans of tuna that you’ll never eat just because they were on sale is wasteful.
Energy
I also hate wasting energy. It drives me nuts when people stare into the fridge for ages with the door open. In our home, we only need hot water for the shower and don’t require heating, so we focus on conserving energy in the kitchen. You can lower your energy bill without sacrificing comfort by making a few small changes:
– Close windows if you’re using heating or air conditioning.
– Turn off lights when you leave a room.
– Open the fridge only twice: once when you start cooking and once when putting leftovers away.
– Turn off the oven five minutes before your meal is done and let the residual heat finish the cooking.
– Cook larger portions and freeze them to make better use of your oven.
– Check your water meter before bed and in the morning to spot leaks.
– Gradually lower your thermostat to find your comfort threshold.
– Cover pots and pans while cooking to retain heat and cook food faster.
– Wear a sweater and use extra blankets instead of turning up the heat.
Car and Gas
Only use your car when absolutely necessary. For other times, consider carpooling, cycling, or walking. Plan your errands to do them all in a single trip each week, and fill up your gas tank on the way to avoid detours. Check gas prices online and perform regular maintenance to prevent costly repairs. Just as buying too much house is wasteful, so is buying an oversized car. If you’re single and living in the city, you probably don’t need a big SUV. Choose a car that meets your actual needs when it’s time for a new one.
Stuff
Avoid buying things and clothes just to feel better. It won’t solve your problems and will add new ones—clutter and debt. Instead, try to give old items a new life with some TLC. Repair, reuse, or repurpose anything you might otherwise throw away. Spend your money consciously by asking yourself if you really need something and if you’ll use it often. For example, think about whether you need that much storage space and RAM in a new computer or if you truly need to upgrade your phone every year.
Time
You might wonder if wasting time has anything to do with money, but it absolutely does. Time is money. Focus on meaningful activities or even plan to do nothing purposefully. If you have 12 productive hours a day, eight at work and four on personal projects, you still have time for fun, chores, and sleep. But if you procrastinate, you’ll stagnate and won’t reach your goals.
By cutting down on waste, you’ll find extra room in your budget to reach your financial goals faster. Since it’s just waste you’re eliminating, you won’t miss it once it’s gone. How do you eliminate waste from your life?