February Frugal Challenge: Saving Change for a Purpose
During January I challenged you to get your coupons organized for maximum ease and efficiency. You can read about that here and here. Hopefully, you have put your crate or file together and are using it to save, save, save.
For February's Challenge I want us to save our pennies, nickels, and dimes. But there is a frugal reason for the saving of our change this month. I want you to make a purchase with your saved changed. This purchase should be one that will further enable you to live below your means and save money. I recommend you choose one of the following items which will help lower your electric/fuel bill:
**A hot water heater blanket (This is what I'm saving for. They are about $20 at Lowe's or Home Depot)
**Compact Flourescent Bulbs to replace your 4 most commonly used lights. (They make these now in normal patterns so don't think spiral!)
**Dimmer switch for bedrooms
So, here's the challenge:
Save your pennies, nickels, and dimes. Earmark the savings for a frugal purchase which will in turn allow you to save even more money.
So, how will you save your money? Who in your house will be involved? What will you buy?
I think this is going to be fun!
I'll think of more and post them soon!
9 frugal friends said:
What a great idea! I will join you. I think the hot water wrap is what I'll shoot for. Another idea could be buying a frugal book like the Tightwad Gazette, etc.
Edwena
Count me in! I think it's a great idea too.
What about a drying rack for hanging laundry? That will also save money long term.
Thanks for the great idea! I love saving $$$$!!!
I am saving with you too. I'm not sure for what just yet but I'll let you know at the end of the month.
When I save money at the grocery, or CVS, for example, I always try to 'roll it over' into a savings account--or else it just gets absorbed back into the house. Last year, I saved enough to replace my 'dead' computer! Those nickles and dimes sure add up. And having a computer is frugal...where else would I get so many good ideas on saving money?
Just a quick comment here, we have found that our dimmer switch does not work with the compact fluorescent light bulbs. I don't know if all of them are like that.
I have a rule that I'm not allowed to pay with change, and whenever I get change it goes to the jar. So if my total came to 4.05 I would pay $5 even if I have a nickel handy. Quarters go to the laundry fund and everything else goes to our trip-to-Germany-a-year-from-now fund. Since we live in an apartment we are limited in what we can install to save us money around the house.
I'll be saving for the compact light bulbs. Thanks for the inspiration!!
I like the idea of the water heater blanket, I have a gift card to Lowes from a return I think that I'll find out how much is on that and then save up the difference and buy one.
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