A visiting author’s post by Liam Garcia
These days, fathers are more notorious for being “cheap” than “thrifty.” Too often, mothers are perceived as the money-savers in the home. They coupon, shop during sales, and manage the pocketbook. They even work on DIY projects and home decorating on a budget.
Fathers have a rep (maybe fostered by the distorted images shown in prime-time TV cartoon shows) for advising their children to wear the same clothes for five years and constantly keep the thermostat at 80 degrees, regardless of the weather. But Dad’s stinginess can actually save some money in the long-run.
Listed below are some additional money saving tips for fathers. The next time one of your kids criticizes you for being cheap, just tell them you learned it from a blog.
Be a Fixer-Upper
Your wife might be an expert at DIY crafts and other projects thanks to Pinterest, but you can be your own DIY professional. Popular Mechanics, that old standby of our fathers and grandfathers, has an online presence with step-by-step how-to’s for all sorts of home improvement projects. And for larger projects, Sunset magazine has a seemingly endless series of home improvement and repair guides; these short paperback books are available in libraries, bookstores and at the big-box home improvement stores. On a lighter side, you have blogs such as The Art of Manliness, which dispense buckets of handy hints. Access “fix it” blogs and learn how to maintain your appliances, fix your air conditioner, or even change the oil in your car.
Not only will you save money for your family, you’ll pass on valuable money-saving lessons to your children.
Use Your Employer’s Incentive Programs
The easiest advice: start saving for retirement and use that 401(k)! Depending on where you work, you probably have some sort of incentive program. Some employers implement a “pay for performance” reward system, while others offer corporate memberships.
However your company chooses to reward you, take the rewards and save them. Buy stock in your company, if you desire.
Go Green, Save Green
You can decrease your utility bills significantly by buying energy-efficient appliances. Use power strips in your home for your electronics and always turn the strips off when you aren’t using them. This is referred to as “vampire power,” because it “sucks the life” out of your bill.
Save on your water bill by installing a low-flow shower head or toilet. Plug-in space heaters work well to warm a single room, if only one person is at home or if everyone can be persuaded to hang out in one or two rooms. Similarly, if you live in a warm climate, consider installing window or wall air conditioners
Save on gas and carpool or ride the bus to work; if you live close enough to your job, try biking or walking there.
Hold On To Your Change
I can still remember my fascination with my father’s change jar as a little boy. We would watch it accumulate pennies and count the days until we could go cash it all in. It was fun for my siblings and me.
Today many people simply toss out pennies, because they seem so useless and because converting them into manageable cash at one of those Coinstar machines will cost you 8.9%, an exorbitant rip just to use your own money. Some banks, also, charge you to deposit coins. There are ways, however, to get around these obstacles: check out this article at Yahoo for clues to low-cost or no-cost ways to convert your change to bills, and at Bargaineering, Melissa Batai suggests a few more ideas, and readers add some more.
It may seem like the most literal translation of “penny pinching,” but it can actually benefit you when it comes to vacations and sticky situations.
Cancel the Unnecessary
If you have Netflix, you have no need for cable television. At YouTube, you can even watch full-length classic movies and TV shows for free: search for the movie’s title + “full length.” Instead of watching television shows on your TV, watch them on your laptop. Every network has its shows available (with ads) on their website. If you absolutely must have cable, subscribe to the cheapest package. You’ll probably still get an “on demand” feature even with the smallest package. When it’s time to start looking for a replacement laptop, test an ultrabook rel=”nofollow”. They have the same makeup, but are cheaper and more durable. That way, instead of one laptop, you can buy 2 or 3 ultrabooks for the family.
The Kids Are Watching
When children grow up in a household where both parents practice thrifty habits and demonstrate self-sufficiency, they learn those habits themselves. Not only will you be saving enough to help put them through college and keep yourself out of their hair when you hit old age, you’ll be teaching them healthy and wise ways to cope with their own finances as they reach adulthood.
Liam is a writer for TipsOnHowToSaveMoney.com.