1) First things first — have a goal. A goal makes it easier to save money. Whether you are saving for a down payment on your first home, your children’s college fund, your retirement, or that dream vacation, having a goal will keep you focused on why you are saving money in the first place.
2) Think twice before buying anything. Ask yourself if you truly need the product or service before shelling out any of your hard-earned cash.
3) Consider buying secondhand. There are a variety of thrift shops available throughout the Islands with various goods for sale. You can also shop at garage sales or check out the popular Web site craigslist.org for a myriad of products and services.
4) Barter. Also popular on craigslist.org
5) Use coupons and discount books. Don’t be ashamed or lazy, cut out those coupons and use them. Every penny saved adds up! You can also search for local coupons online.
6) Shop during store sales and only (very important) buy products that are on sale.
7) Cut out coffee and bottled drinks. You can make your own coffee and bring your own drinks.
8) Cook instead of eating out. This includes packing a home lunch for work.
9) If you do eat out and enjoy an alcoholic beverage, dine at places that allow you to “bring your own bottle,” commonly referred to as BYOB. Many of our local eateries allow patrons to do so, including The Fat Greek, Champa Thai, and India cafe, to name a few.
10) Drop bad habits. Smoking, drinking and gambling are all expensive.
11) Avoid TV. Cable TV, especially in Hawaii, is becoming increasingly expensive due to a lack of viable competition. Instead, watch DVDs, read more, or watch TV shows online. You’ll also avoid commercials, which generally persuade you to buy things.
12) Be aware of strategic marketing techniques. Don’t get caught up in the hype of your shopping environment/experience. Ask yourself if you really need the product or service. And, don’t allow yourself to be oversold.
13) Use the local library. Why buy books and DVDs when you can borrow them at your local library?
14) Live simpler. Cut back on your spending, own fewer things and find creative ways to enjoy life. A great book to read is, “Living the Simple Life,” by Elaine St. James.
15) Protect your belongings by clearly labeling them with your name and phone number. If they are ever lost, your contact information will be visible.
16) Save on gift-wrapping by being more creative. Use the comics or cool magazines to wrap gifts.
17) Eat before food shopping. Never shop on an empty stomach. There’s no surer way to spend more money.
18) For everyday items save money by buying in bulk.
19) Save on parking fees when in town. Have a game plan before you head out. Find out where the cheapest parking places are or park in free parking and walk to your destination.
20) Double-check your shopping receipts for discrepancies, especially when it comes to sale items. Retailers sometimes mark items for sale that ring up full price at the register.
21) Save on your energy bill. Whenever possible, open a window to take advantage of our cool Hawaiian breeze. Use energy-efficient light bulbs, hang dry your laundry, and unplug electrical appliances when not in use.
22) Save on gas and car maintenance fees by using public transportation. Catch the bus, carpool, ride a bicycle, or try walking to your destination.
23) “Do-it-yourself” or DIY. There are many things you can do yourself instead of hiring others.
24) Open a savings account without an ATM card. Use this account for deposits only! Watch your money slowly grow, then pick up the pace in the future.
25) It’s often said the best things in life are free, but nowhere more so than in beautiful Hawaii. Take advantage of the great weather and events around town. Sunrises, sunsets, movies on the beach, performances at the mall, concerts, churches/temples, conversations at the beach/park, hiking and enjoying time with family and friends.
