Many things in a house are shared. The kitchen, for example, can be used by many people to store and prepare food. The utility room can be used by many people to wash and dry clothes. And the bathroom can be used by many people. Not at once, of course, but sequentially.

If you take the things in a house that can be shared, and share them, you will realize significant financial gains because you can take the same bill and divide it amongst several people. This allows everyone involved to not only live in a better, more equipped house, but to also save a lot of money in the process.

This article is all about the concept of shared housing. It begins with an overview of the primary benefits. Next is a definition of shared housing as well as a model of how it could work in the real world. And finally, there is a price comparison of what it would cost to live in a shared house versus a conventional single family dwelling.

Shared Housing Benefits

The benefits of shared housing are truly enormous. The more I think about this concept, the more benefits I realize. Just for starters, you have a tremendous financial benefit. By taking advantage of shared housing, you can easily lower your total monthly expenses by 50% or more. What does this mean, exactly?

Well, if you’re a regular full time worker paid by the hour, this means that you can work half as much. Instead of working full time, you could work part time. Take half the week off and go fishing, or whatever you enjoy doing in your spare time.

Alternatively, you can continue to work full time and spend the other half of your income on something else. Maybe that big screen television set you always wanted, or that new computer. Maybe that new car. Or maybe you can just put it into savings, or invest it. The possibilities are endless.

Besides the financial benefit, there are other benefits as well which some people argue are even more valuable. For example, there is the benefit of community and relationships. When a dozen people live in your house, you’ll always have someone to talk to. You’ll always have someone to play games with, someone that you can bounce ideas off of, and someone to hang out with. And they are right there, living in the same house as you. You don’t have to drive to another city, or call them on the phone.

Closely related to the benefit of relationships is the benefit of personal growth. When you’re around that many people, you’re bound to learn something new. Someone will stimulate you to grow to new heights, to understand new things, and to pursue new goals. Maybe the mechanic will show you how to work on your own car. Maybe the web developer will teach you how to make your own web site. Or maybe the crazed video gamer will keep you up on all the newest game releases. You never know what someone has to teach you until you go talk to them. Or, in this case, live with them.

Of course, there is also security and strength in numbers. If a dozen people live in a house, and they are all armed, I’m not sure how many criminals are going to want to mess around with that house. In fact, I bet criminals would be warning each other to stay away from the big house on the corner. It’s one thing to break into a house when only one person lives there. At worst, you may get shot at by one person. But with a dozen people? Well, at worst you’ll get shot at by a dozen people. At best, maybe six. Either way, you’re probably going to get shot at. This is a strong incentive for criminals to stay away.

And finally, you have the benefit of love and support from a lot of people. Some people may blow off this benefit. And that’s okay. But I know that the more people that you have supporting you in life, and looking out for you, the more likely you are to succeed. If you have a strong social network you are more likely to be happier, healthier, and to live longer. When you live with a lot of people, this automatically extends your social network by leaps and bounds.

Shared Housing Defined

Shared housing is defined here as a house that has sufficiently utilized assets and a sufficient division of responsibility amongst the house members. This means that the things in a house which can be shared, such as the kitchen, bathrooms, and living room, are shared among several people. These shared services, as I call them, get effectively utilized. This sharing of services is the primary reason that a shared house is more cost effective than a normal housing arrangement.

In a shared house there is also a division of responsibility and work. This could be in the form of monetary payments, or this could be in the form of physical labor. It is unfair, for everyone involved, to just have one person that carries all of the responsibility. If one person is doing all the work, this will rob everyone else of much needed personal growth, not to mention exercise. Also, what would happen if the one working person decided to quit? Suddenly everyone else in the house is up the creek without a paddle.

So a shared housing arrangement must have two things. First, it must have shared housing services that are highly utilized, or shared, by several different people. This creates a very efficient house. And second, it must have a division of responsibility amongst the members. This makes the house very cost effective, for everyone involved.

A Shared Housing Model

The theory of shared housing is amazing. It has several incredible benefits and very few drawbacks. Because this model makes efficient use of housing resources, it is very cost effective and saves everyone a lot of money.

In the real world, however, there are things that must be considered to make this model work correctly. The main thing that must be considered is human relationships. The sad truth is that most adults, even though they may be well educated and knowledgeable, still haven’t learned how to get along with other people on a real level.

Sure, people can get along at work. They are getting paid to be there. If they don’t get along, then they might get fired. People also get along at church as well. They are expected to get along at church. Living together, however, is a whole different ball park. Just ask any couple who dated for a long time before moving in together. Things are different when you live with someone. People who used to get along just fine, suddenly don’t get along very well.

A shared housing model must account for other things as well, such as finances and our legal system. For example, as far as I know a single house can’t be owned by a dozen people. I’m not a lawyer, but I’ve never seen that many signature lines on a deed before.

In reality, of course, there are several different ways that someone could set up shared housing. There are several different ways to make this work. I am going to present one way that this model could work in real life.

First, the house itself would have to be pretty large. More specifically, there would have to be a lot of bedrooms and bathrooms in the house. In order to maximize the efficiency of the house, there should be at least three people per bathroom, six people per family/living room, and at least twelve people per kitchen. Since most houses only come with one kitchen and utility room, I would consider 16-24 people to be the maximum number of people in a shared housing arrangement.

The house would have to be legally owned by a person or couple. This person, or couple, would effectively be the head of the household and would ultimately be responsible for the shared housing arrangement. Decisions and dispute resolutions, however, should be decided upon by the house members in a democratic fashion. There should be a balance between the powers of the house members, and the power of the head of the household. Instead of decisions being made by the landlord, and then forced onto the tenants, they should be agreed upon by everyone in a democratic fashion and then carried out by the head of the household.

Financial responsibility should be shared amongst the members in the following manner. First, there should be a shared services charge for every person that lives there. This charge covers usage of all of the shared services in the house, such as the bathrooms, kitchen, utility room, water, electric, high speed Internet, and whatever other shared services are available. Next, there should be a charge for private quarters. For example, there would be a room charge for every room a family requires.

In this manner, what you get charged for is more aligned with what you actually make use of. If you are a couple sharing a bedroom, for example, you would get one room charge and two shared services charges on your bill. This would effectively give couples a discount because they only make use of one bedroom.

Everything that is outside of the bedroom, or private living quarters, would be considered a shared service and would be owned by the house. The living room, entertainment center, and furniture would all be part of the shared services. The kitchen and appliances would also be part of the shared services.

The cost of consumables for the house including food, toothpaste, toilet paper and whatnot, would be equally distributed amongst the shared services accounts. Everyone would have their own credit card that they can buy groceries for the house with, and everyone would be free to eat and consume whatever consumable goods are currently in the house at the time.

Part of the shared services charge would include a capital allocation account for house improvements and maintenance. This would be used to make improvements to the shared services such as buying a new entertainment center, installing an in ground pool, or building a new garage. These kinds of improvements would, in general, have to be agreed upon by the house members prior to purchase.

Instead of being stuck in a fixed contract, members would be free to leave or opt out whenever they want, without having to pay anything except what they owe. New members, however, would have to be interviewed and voted on by the existing house members before they were accepted.

A security deposit would be required upon entrance. In the event that someone moves out, this security deposit will be used to cover their last month’s expenses. Thus, in most cases, moving out of the house wouldn’t cost anything at all. You wouldn’t even have to pay your last bill, because it would be covered by the security deposit.

Other house chores, such as dishes and mowing the lawn, should also be shared amongst the members. Alternatively, they may be outsourced to other people, but this would also increase the shared services charge. In limited circumstances, physical labor and service may be exchanged as a form of payment. For example, if the water pipes burst while a plumber was living there, the head of the house may just contract out the repair work to the plumber. In exchange his shared services bill would be reduced or eliminated for the month.

A Cost Analysis For Shared Housing

Since the cost effectiveness of shared housing is likely the largest factor that most people are after, I’m going to present here a hypothetical comparison of the cost of living in a regular single family house versus using shared housing.

For the single family dwelling, this comparison uses what it would cost a couple to live in a standard 3 bedroom 2 bath house built on a slab. The price estimate for such a house was recently obtained from a local modular home builder. The quote for this house is $91,400 dollars.

For the shared house dwelling, this comparison uses what it would cost 11 couples to live in a higher quality two story house with a full finished basement. This home contains 11 bedrooms, 5 ½ baths, 2 large living rooms on the main floor and a huge family room(28′ x 28′) in the basement for recreational activities. It also contains a large kitchen, dining room, and utility room and includes all appliances. The price estimate for this home was obtained from the same modular home builder. The price estimate for the finished basement is based on a price estimate from a local general contractor. The entire quote for this house is $248,000.

In both cases, the monthly housing cost is based on a 30 year fixed rate mortgage payment. The interest rate for this mortgage is based on the rate from a local credit union, and is dependent on my personal credit history, employment record, and debt ratios. The utilities, property taxes, and home owner’s insurance are all based on local rates and conditions.

The cost basis is how much it would cost each individual to live in the home. It is calculated by taking the total cost and dividing it by the number of people paying for the bill. Here is the analysis:

As you can see, in this situation it costs five times more per person to live in a standard single family dwelling than it does to live in a shared house. This is absolutely amazing.

Conclusion

You can see the benefits. You can see the analysis. So why is it that few people take this approach in America? Well, it’s not normal. People don’t get along. Many people would just rather live alone. And they, quite literally, pay the price for doing so.

Think about this approach for a while. Do you agree that it would save you and/or your family a tremendous amount of money? Do you agree that it would expand your social circle? Do you agree that it would encourage you to grow and interact with more people?

What’s stopping you?

I can honestly say that the only thing that has stopped me from doing this so far has been a lack of people who can work, who can get along, and who can accept one another. Most people, I have found, don’t even have the willingness to read an article like this, let alone try this out.

So if you’re someone who has actually read this article, and you comprehend it, shoot me an email.

Maybe we can move in together.

Are you tired of worrying about money, or working long hours? Would you rather have the freedom to do what you want to do, instead of doing what your company wants you to do? Would you like a day off every now and then?

Instead of being a slave to all of your stuff, why don’t you turn the horse around and put your stuff in its proper place. Instead of working for your stuff, why don’t you make your stuff work for you?

This is a list of 101 of the best ways to save money. If you’re sick of working for your stuff all the time, and if you’re ready to take back your life and time, then this article is an excellent starting point. It has 101 ways to save money, and it’s even categorized for you.

Housing

1. Buy a smaller house – Do you have extra bedrooms that you only use for storage? Do you really need 2 ½ bathrooms? If you buy a smaller house, you can easily save thousands of dollars a year in mortgage payments, property taxes, and utility bills.
2. Buy a less extravagant house – Having a large yard is nice. But what do you use it for? Having a garage is also nice, but aren’t your cars built to withstand the elements? How about that wrap around back deck? I’m sure you see where I’m going here. All of these little extras effectively jack up the price of your home, and many of them you can do without.
3. Buy an ugly house – Do you know how to use a hammer? How about a paint brush? Houses, like many things, are priced according to their selling ability. An ugly, repossessed, or otherwise broken down house will not sell very well at all. If you’re willing to put forth a little bit of effort, you can easily get a decent house at a significant discount.
4. Buy an older house – There was a time when 2 x 4’s were actually a whole 2 inches by 4 inches. This isn’t the case for newer houses, but for some reason people still think that a newer house is better. Do yourself a favor and buy an older house. They tend to be sturdier, they’ve already settled, and they are probably cheaper as well.
5. Refinance your mortgage – This is an easy one to do. Shop around, remember to read the fine print, and get a good deal. You can save thousands of dollars just by signing your name.
6. Move to a different location – Where your house is located at counts a lot. The cost of housing in some areas is significantly higher than others. It isn’t uncommon for a similar house to sell in one city for double what it would sell for in another city. Watch out for property and income tax differences as well.
7. Negotiate with your landlord - This doesn’t work all of the time. But if you’re looking around you, and half of the apartments in your complex are empty, it may be time to negotiate a better deal with your landlord. Some landlords, for example, will lower the rent prices in exchange for longer term commitments. Others will give you a free place to stay in exchange for your services, such as being a maintenance person for the apartment complex.
8. Share living quarters – By having many people live in one big house, you can share the housing expenses. If you have a house, you can rent out bedrooms, get a roommate, or invite friends and family to live with you. By splitting up the housing expenses everyone can save money. Of course, they have to be able to get along as well. This is usually the part that falls through.

    

   Travel

    

9. Buy a used car – I don’t think I can stress this point enough. Buying a new car, in almost every situation, will be a lot more expensive than buying a decent used car. Cars depreciate in value a lot. Just in the first year, a typical new car will lose 20% of its value. You can save yourself a lot of money by buying a decent, reliable, used car.

10. Buy from a private seller – Go down to a used car dealership and jot down some prices for cars. Now go to Ebay, find similar cars, and take note of how much they sold for. In many cases, this differences is truly staggering. You get the same thing from a private seller, but at a significant discount. Do yourself a favor. Take out the middle man, and just buy your car from another individual.

11. Buy a salvaged car – If a car has a salvage title, it’s price is almost guaranteed to be lower. Be warned, though. If the person who fixed the car didn’t do a very good job, you may wind up with a lemon. Make sure you do your homework, ask the right questions, and thoroughly examine the car before purchasing it.

12. Maintain your own car – A professional mechanic is pretty expensive. Not only do they have extraordinarily high labor costs, but they also tend to jack up the price of the parts. Maybe this is to conceal their extraordinarily high labor rates and overhead. A mechanic may easily charge you 450 dollars in parts and labor for something that would only cost you 20 bucks to fix yourself. The only upfront cost here is the price of a decent wrench set. But when you compare it to a single visit to the mechanic, it’s much cheaper to just buy a wrench set.

13. Drive one car – Do you really need two, three, or four cars? Would it be possible to take your spouse to work, and then pick them up from work afterwards? If you work similar hours, would it be possible for one person to drop the other one off at work, and then pick them up after they get off? Cars are expensive. If you don’t need an extra car, then you shouldn’t have an extra car.

14. Buy an economical car – People don’t seem to understand this one, so I’ll do the math here. If you drive a car that gets 10 mpg, versus a car that gets 40 mpg, then you’re going to be spending 4 times the amount on fuel.

15. Adopt an economical driving style – Driving 20 miles an hour over the highway speed limit is likely going to reduce your mileage. Constantly flooring your car, and then slamming on the brakes at red lights, is also going to reduce your mileage. Instead, take off slower. When you know there’s a red light just up ahead, stop accelerating and coast your way to the light. Don’t speed so much on the highway. The wind drag on your vehicle at 80 mph is significantly higher than at 55 mph, and you will pay for it at the pump and at the court house if you get pulled over.

16. Maintain your car – A car, when properly maintained, can last for a very long time. Things like oil, belts, spark plugs, brakes, and transmission fluid are very cheap when compared to the price of a new car.

17. Buy a reliable car – If you’re driving a Honda, the previous point may not be so important. I’ve watched people drive Honda’s for 300,000 miles and do nothing but change the oil…every 15,000 miles. I’m not recommending you do this, but I do recommend buying a reliable car. This way, you don’t have to worry about doing much mechanical work to begin with. On the flip side, however, reliable cars tend to cost more. So you have to run the calculations here and determine what is right for your situation.

18. Car pool – Does one of your neighbor’s work at the same place you do? Do you both work the same hours? Then why in the world are you both driving separate vehicles for? If you split the cost down the middle, you both just saved 50% on your travel expenses.

19. Wash your own car – Personally, I would never wash a car unless I’m getting ready to sell it or take it to a car show. When it rains, my car gets washed. But I understand why someone would want to wash their car. What I don’t understand is, why in the hell would you ever pay someone else to wash your car? Have you never heard of a wash rag or a sponge? Take the $10 dollars a week you spend on making your car look pretty, and spend it on something that’s actually useful. Or give it to me, if you want.

20. Ride a bike – if you work only a couple miles down the rode, why don’t you just ride a bike there? You don’t have to pay for gas or insurance, and the price of a bike is dirt cheap, when compared to the price of a car. Plus you can get some exercise in the process.

21. Buy a cheap car – If your goal is to save money on your travel expenses, then you probably don’t want to be riding around in a BMW or Cadillac.

22. Work closer to home – Working closer to home equates to fuel savings, less wear and tear on your car, and time savings.

23. Make your own fuel – Have a diesel truck? Try making your own biodiesel. It’s cheaper, cleaner, and better for the environment.

     

    Food

     

24. Stop eating out – A meal at a nice sit down restaurant can easily cost $20 dollars per person, plus tip. A meal at home can easily cost $3 dollars per person. If you do the math, this comes out to a significant amount of savings, especially if you have a family.

25. Shop at a low cost grocery store – I am constantly amazed at how the same items can cost twice as much at one store than another, and people are still getting ripped off at the more expensive store. Go to stores that specialize in saving you money, such as Sam’s Club or Aldi’s.

    This can easily save you 25% or more on your grocery bill.

26. Eat cheap food – Certain foods naturally cost more, such as steaks and lobster. Other foods naturally cost less, such as pasta, rice, macaroni, bread, bananas, and vegetables. It is somewhat ironic that, in many situations, the food that costs less is healthier for not only your wallet, but your body as well.

27. Don’t eat processed food – In general, the more processed something is, the more it is going to cost you. If all you’re getting at the grocery store is TV dinners and microwavable pizzas, then you may not be saving a lot of money versus going to a fast food joint. Buy food that isn’t made from other food. Instead of buying a TV dinner of steak, green beans, and mashed potatoes, but the steak, green beans, and potatoes themselves. This will not only save you a lot of money, but it will be healthier for you as well.

28. Buy in bulk – In general, most items are cheaper if you buy them in bulk, instead of individually. If the item is going to spoil or got bad before you get a chance to use it, however, this probably isn’t the case. For example, it may not be a good idea to buy something like milk in a bulk quantity. However, something like rice, toilet paper, or shampoo, buying these things in bulk can save you a lot of money, especially if you go to a grocery store that specializes in selling items in bulk.

29. Eat less – Sometimes it not a matter of what you eat, but simply a matter of how much of it you’re eating. By eating less you can fatten up your wallet and trim down your waist line at the same time.

30. Don’t waste food – How many times have you made a large meal and then threw away the leftovers? I bet we could feed the whole world, just with the leftovers we have in America. Or you can buy some plastic bags, and feed yourself tomorrow for free.

31. Don’t drink alcohol – Have you ever compared the price of alcoholic beverages to, say, water?Considering that water is practically free, why would you pay a lot of money for something that is going to make you lose your mind and give you a hangover the next morning?

32. Don’t drink pop – Water is practically free. Caffeine is addicting and sugar is bad for you. Why would you feel the need to waste money on something that isn’t even good for you to begin with?

33. Clip coupons – Sometimes you can get a good price for something with a coupon. Remember, however, that just because something is on sale, this doesn’t mean you’re getting a good deal. Even when something is on sale, you should still be comparing the prices to competitors.

34. Start a garden and raise farm animals – There was a time when all of our food was free and all we had to do was go outside and get it. Now we have to drive all the way to the store, and then we have to pay for it. I know, I’m still trying to figure out what went wrong also…

     

    Utilities

     

35. Insulate your house – This is a very cost effective way to save money on heating bills. Make sure that your exterior walls are insulated and you have plenty of insulation in the attic of your house.

36. Buy a heat pump – When compared to traditional electrical resistance heating, a decent heat pump for your house can easily save you 50% on your heating costs.

37. Put plastic over windows – Your windows tend to have the lowest r value out of anything in your house. By putting plastic over the windows in the winter time you can save some money on your heating costs.

38. Seal all cracks and gaps – If a door or windows doesn’t shut properly in the winter time this can cause your house to lose a lot of heat. Walk through your house looking for any areas that are exposed to the outside, such as cracks, gaps, air conditioners, attic entrances, etc.

39. Buy high efficiency appliances – Things like your washer, dryer, refrigerator, and hot water heater all tend to use a lot of electricity. Make sure that you buy efficient appliances so they aren’t using as much electric.

40. Lower the thermostat during winter time – you would be amazed at how much money you can save on your heating bill in the winter time just by lowering the thermostat a few degrees.

41. Raise the thermostat during the summer time – In a similar manner, if you raise the thermostat during the summer time, your air conditioner won’t have to work as hard and you will save money on your cooling costs.

42. Time the house temperature – If no one is in your house during the day in the winter time, why are you paying to keep it so warm? If you go on vacation in the summer time, why are you paying to keep your house cool? When there is no one in the house, you can significantly turn down the heaters and air conditioners. Depending on how often your house gets used, this may save you a lot of money.

43. Buy efficient light bulbs – Little things, such as light bulbs, add up when you have a lot of them. Compact fluorescent lights are cheap nowadays, so there isn’t much excuse not to use them.

44. Use space heaters – During the winter time you can use space heaters to save money, especially if you don’t have many bedrooms. At night, lower the temperature of the primary thermostat, and only heat the bedrooms that are being used.

45. Install low-flow shower heads – When you take a shower, you tend to use a lot of hot water. By using low-flow shower heads you can not only save water, but you can also save money because your hot water heater doesn’t have to heat up as much water.

46. Install efficient toilets – If you need new toilets anyway, you might as well install toilets that don’t use that much water. This will save you some money. If you don’t already need new toilets, however, I can’t recommend this as a savings tip because the pay back period on buying efficient toilets is very, very long.

47. Wash your clothes on cold – It takes a lot of energy for the hot water heater to heat up your water. So instead of washing your clothes on warm or hot, try washing them on cold. My clothes don’t seem to mind the temperature change.

48. Install a solar hot water heater - If you’re feeling pretty adventurous try doing a Google search for solar hot water heater. Free hot water is never a bad thing.

49. Use a clothesline – Your clothes dryer consumes a lot of energy and money. Instead, put up a clothes line outside, in a spare bedroom, or in your basement.

50. Buy an efficient house - Some of the newer houses on the market now use different construction methods, such as structural insulated panels. These houses can be very good at keeping the heat in, and the cold out.

51. Lose the cell phones - 20 years ago no one knew what a cell phone was. Now everyone has to have one. If we lived without them before, then we can probably live without them again.

52. Lose the land line – If everyone in your house has a cell phone, and if you insist on keeping them, then why do you need a land line for?

53. Ditch the cable – The almighty cable or satellite TV. Must it be axed to save money as well? That’s always an option.

54. Downgrade your Internet speed - As a computer guy, I consider the Internet to be a necessity in life. If it came down to it, I think I would rather lose my car than lose my Internet. Downgrading your Internet speed or switching your ISP, however, should always an option.

55. Take advantage of special offers -If you’re going to keep your Internet, phone, and cable, you might as well shop around and take advantage of offers. Most companies have triple play offers now, where you can get these three things at a significant discount when you bundle them together and sign up for a contract.

56. Share plans – Most cell phone companies have what they call family plans now. You start with two phones, and every additional phone is around $10 dollars extra per month. If you get 5, uh, family members on board and split the bill, you can save a lot of money. You can do something similar by sharing your Internet service with your neighbor and splitting the bill. Sometimes this is against the terms of service for your Internet service provider though. You should always check your terms of service contract before doing something like this.

     

    Insurance

     

57. Shop around – Insurance rates can vary drastically from individual to individual, because they usually have different algorithms for computing the risk level for people. This is why it is very important to shop around for insurance.

58. Maintain your credit score – Many insurance companies will give you a discount now if you have a good credit score. People who pay their bills on time tend to get rewarded for doing so. Yes, amazing concept, I know.

59. Maintain your driving record – Almost every car insurance company will give discounts to drivers who don’t cause accidents or get speeding tickets. Good drivers tend to get reward. Another amazing concept, I think.

60. Buy it in bulk – Many insurance companies will also offer you a discount if you purchase it ahead of time, such as annually.

61. Take advantage of discounts – Insurance companies tend to differ a lot in the kinds of other discounts they offer. This is where it is important to know your insurance company. For example, you may get discounts for having multiple cars. Or, you may get a discount for having one insurance company insure your house and your vehicles. Ask your insurance agent what kind of discounts the company offers.

     

    Clothing and Accessories

     

62. Shop at a thrift store – At a thrift store you can get a wide selection of used clothing, all for rock bottom prices. I’ve never once seen a retail store come anywhere close to the prices of a thrift store.

63. Explore garage sales – Garage sales are where people give away their old stuff and hope to get something meager in return. If clothes got any cheaper than what you find at a garage sale, you would be getting them for free.

64. Go to a discount store – Let’s face it. There are some things that you probably don’t want to buy used. When you shop for new clothing, make sure to shop at a discount retail outlet. I’ll give you a hint – you won’t find a discount store at the mall.

65. Buy generic jewelry – What’s the difference between a fake diamond and a real diamond? Thousands of dollars and a trip back to the bank. There’s no sense in spending all of your money on something that serves no functional purpose.

66. Patch ripped clothes – In the old days, mothers would sew up ripped clothing and patch up holes in jeans so they wouldn’t have to buy new ones. Now they sell patched up clothing at expensive stores because wearing patched up clothing is a new fad. Sometimes I don’t understand people…

67. Don’t ruin clothes – The longer your clothes last, the less often you have to buy new ones.

     

    Entertainment

     

68. Do outdoor activities – Go outside and get some fresh air. Playing sports, such as basketball, football, and baseball, are usually pretty cheap.

69. Play games – You can buy a game once, and it can entertain you forever. Well, a good game will at least entertain you for a very long time.

70. Cancel magazine subscriptions – Who needs magazines when you have the Internet?

71. Stop going to the movies – Be patient. When the movie comes out of the theaters, you can rent it and get a 90% discount. Sometimes you can also find the movie at your local library.

72. Read books – Libraries offer books you can borrow for rock bottom prices.

73. Hang out – Get some friends together. Listen to some music, play some games, and just hang out. It’s practically free.

74. Start a hobby – Okay, some hobbies are more expensive than others. But at least you’re doing something that may be semi productive.

75. Do things around the house – Whenever you go out, to the movies, to the club, to the mall, or somewhere else, you’re almost guaranteed to spend a lot of money. These are all businesses, and they exist because they make money. Instead, plan your activities and meetings around houses. Your house, your friend’s house, etc. This will save you money.

     

    Debt

     

76. Pay off loans early – The longer you have a loan out, the more interest you will get charged. While the banks love this, it isn’t very healthy for your pocket at all.

77. Negotiate better rates – Many creditors will work with you, especially if you get in a tight spot. Remember, they would much rather have some money, than no money at all.

78. Consolidate your debt – If you have a lot of different kinds of debt, such as student loans, credit cards, etc, you may get a better rate if you consolidate all of those loans into one. Plus, then you only have to worry about making one payment instead of a dozen.

79. Hide your credit cards – Sometimes your self discipline may not be enough to keep you from putting stuff on your credit cards. For these times, it is best to hide or cut up your credit cards.

80. Pay your bills on time – If you pay your bills on time, you will get a better credit rating. If you have a better credit rating, you will get better interest rates from lenders. If you have lower interest rates, you will save money. Therefore, you should pay your bills on time.

     

    Miscellaneous

     

81. Buy cheap, meaningful gifts – Instead of trying to show your love for someone by buying them expensive gifts, why don’t you try buying them cheap, meaningful gifts instead?

82. Don’t splurge on vacations – Sometimes when you’re on vacation you can forget that you have to come back home afterwards..

83. Mow your own lawn – If you want to save money, why would you pay someone else to mow your lawn? Of course, if you can get paid more doing something else than what it costs to pay someone else to mow your lawn, you can ignore this advice.

84. Cancel your newspaper subscriptions – If you must have news, you can probably find it from other sources, such as the Internet, radio, or television set.

85. Buy an ebook reader – Ebooks are cheaper than regular books. The trees will love you more also.

86. Pack your lunch – Do you have a cafeteria at work? How much does it cost to eat there? How much does it cost to eat out every day while you’re at work? Perhaps it would be cheaper to brown bag it…

87. Shop online – The Internet has brought competition like nothing else has. You can easily go to five different sites and compare prices for something, with just the touch of a mouse. As a result, there are a lot of things that tend to be cheaper on the Internet. Electronics, especially.

88. Go to auctions – At an auction, the price you pay is determined by how much everyone else is willing to pay for it. Happy bidding.

89. Trade services for services – Are you good with cars? Find someone who is good with computers to fix your computer for you. In exchange, you can fix his car. This can work for almost any profession.

90. Take advantage of employee discounts – Does your brother work at the movie theater? Perhaps he can get you free tickets. Does he work for McDonald’s? Maybe he can get you a discount…just maybe.

91. Cut your own hair – Usually it’s actually easier just to get a family member to cut your hair for you. Cutting your own hair doesn’t produces interesting results.

92. Don’t have pets – Pets cost money. You have to feed them, take them to the vet, and buy them other miscellaneous items.

93. Don’t have kids – Kids cost even more money. You have to feed them, clothe them, entertain them, take them to the doctor, pay for their college, and hope they don’t put you in a retirement home someday…

94. Get married – On the one hand, this can save you a lot of money in taxes and living expenses. On the other hand, this can cost you a lot of money in alimony, child support, and court fees. Yes, this is your warning.

95. Invest in things that save money – If something is going to clearly pay for itself in a few months, and then continue pay you money, then you should buy it. I’ve yet to see a stock that consistently doubles in value every few months.

96. Don’t gamble – Please take statistics 101 before partaking in any kind of gambling activity…Yes, playing the lottery is gambling.

97. Quit smoking – If the smoking doesn’t kill you, then how much it costs will.

98. Buy generic – Did you know that in many situations the only difference between a generic brand and an off brand is literally just the brand? Why would you pay for a name?

99. Take advantage of social assistance – If you’re living a poor lifestyle because you want to, and not because you have to, this may not work so well. But if you actually have a very low income, you will probably qualify for a variety of social assistance programs throughout life. Such as free college, health care, food, shelter, etc…

• Do it yourself – In general, it’s almost always cheaper to try fixing something yourself first. Your plumbing, your car, etc. Professionals tend to cost a lot of money. And, quite frankly, you should only pay a professional to do something if it requires a professional to do it.

• Use open source software – You may be wondering why tips #100 and #101 have bullets instead of numbers. It’s because, apparently, Open Office messes up when you have a list with 100 or more items in it. But you know what? I can’t complain very much, because I didn’t pay anyone a dime for this software.