Live on Less and Love It!

Image Gallery If you live in a forested area, cut your energy costs by heating with wood. And wherever you live, never skimp on insulation — you’ll save money and energy. BRIAN ORR

On paper, my wife and I are poor. How poor? In 2005 we made $4,303.84 combined; in 2004 we made half that. We’re in such a low tax bracket that I have trouble convincing the government of our tax return’s accuracy; they simply can’t believe Americans can live on that kind of money.

Yet in many ways, we’re better off than a Wall Street banker: We’ve saved enough money to buy land without a mortgage, we have no credit cards or monthly bills, I work 20 flexible hours a week from home, and my daughter has two stay-at-home parents.

Simply put, we never want for anything, and we have a lot of fun.

We’ve arrived where we are now through a decade of daily financial decisions. Because we didn’t want to spend our time earning money at jobs we didn’t like, we instead focused on how to stretch our money. We found that by controlling our day-to-day expenses, we could save a lot of money without sacrificing our quality of life. Neither my wife nor I will ever be confused for financial wizards; there’s nothing we’ve done that you can’t do if you’re serious about saving money. Here are 75 money-saving tips to consider, drawn from our own experiences. Find what works for you and enjoy living on less!

Good Cheap Food

1. Buy raw ingredients instead of prepackaged foods. If you don’t know how to cook, learn. You’ll save on food bills, and your body will thank you for it in the long run.

2. Buy in bulk from a local health food store, or place bulk orders directly with mail-order companies. If you can’t meet their minimum order size, go in on an order with another family, or organize a larger food buying club.

3. Avoid the middleman and buy directly from farmers. Look for farm stands, community supported agriculture programs and farmers markets.

4. Eat fruits and vegetables in season, when they are least expensive. (Once, we found organic watermelon for three cents a pound!) Stock up when they’re cheap and freeze or can any excess for later use.

5. Keep up with what’s in your refrigerator and make sure nothing spoils. Once a week, make soup or casseroles to use up vegetables and other leftovers.

6. Calculate the price of food per pound when you visit supermarkets. Doing the math will help you spot good deals.

7. Don’t overeat. When you do, you’re flushing money down the drain.

How to Avoid Rent

8. Find a live-in elder care position and help someone stay out of a nursing home. There’s always someone desperate for reliable help, and often there are no qualifications needed other than compassion.

9. Help renovate a house in exchange for lodging. This is how we came into our current home.