For this experiment I spent 2 weeks learning how much money I wasted buying literally nothing.
Paperless Statements + Auto Pay. Years ago I embraced the “conveniences” of automatic bill payment and paperless statements for most bills. In other words, I stopped paying attention. It dawned on me that maybe that was a bad idea, so I started reading.
Here’s what I found.
Electricity: Warning – math and science below.
From a recent (winter season) bill in Seattle:
Level 1: First 944 Kilowatt Hours (KWH) at 7 cents per KWH = $66
Level 2: (we used an additional 573 KWH) at 13 cents per KWH = $75
We paid more for the last 573 KWH than the first 944. So reducing just a little will go a long way.
Light Bulbs: “Kill the Kilowatts” started with replacing some incandescent light bulbs with compact fluorescents and LEDs. And over the summer I realized we get about 22 hours of daylight, we opened the blinds. Free lights!
Trash Collection: At our house garbage rates increase by bin size. We’d been paying $34/month for our half-filled 32-gallon trash can. By changing to an 18-gallon container for $26/month, we’ll save $96 in the next year by DOING NOTHING DIFFERENT!
Water In, Water Out: Complaint of the day: I don’ t like paying for water twice – first out of the faucet, and then down the drain. What if we could reduce one or both? Could “pasta water” be dumped outside – or water the flowers? What if we composted more and used the garbage disposal less? How many
weeks days can I wear jeans before washing? How important is flushing, really?
Dog Food: We’ve been proudly serving our dogs two different “5-star” foods. Then I learned a dirty little secret: Big dogs and little dogs can eat the same food because it’s literally the same food. Switching to one shared bag, and reducing from “5-star” to “4.5-star” food (don’t tell the neighbors), we’ll save $200 in the next year.
Car Fit Bit: I added a Bluetooth device to the car (State Farm Drive Safe & Save) that allows them to collect user data like miles driven, speed, deceleration, and my innermost thoughts. Since I rarely leave our neighborhood anymore, our annual cost savings is estimated at $200 for DOING NOTHING DIFFERENT.
Too Much Data: I discovered we had been using 7 GB of a 15 GB cell phone shared data plan. I was flabbergasted that AT&T didn’t tell us we were buying data we don’t need! By reducing our plan from 15 GB to 10 GB, we will save $10/month by DOING NOTHING DIFFERENT.
Just a Little Patience: I found a door-mounted pull up bar on Amazon and put it in my shopping cart. While deciding whether to purchase, the same item popped up in our neighborhood giveaway group! It pays to procrastinate.
Final Tally. By identifying a few hidden costs, we are set to save more than $600 in the next 12 months on those things that required little-to-no change. I spent roughly 2 hours of combined research, paperwork, etc., to make it happen.
What else is out there? How might we recoup even more?
Image credits (top to bottom): 401(K) 2012 via Flickr Commons; https://flic.kr/p/aYWk56. Keith Ellwood via Flickr Commons; https://flic.kr/p/dWRtep. Gary Larsen.