How to Save $3,000 in a Year

Provided by Her Money

Combine these 5 strategies for cutting back just a bit on a bunch of spending and you could see your bank account grow significantly.

Ditch Bottled Water

Like lattes, bottled water is a small expense that, over the long haul, can compromise your savings account. Water is free, after all, and by investing just $20 on a nice, BPA-free water bottle you can simultaneously fill up that piggy bank and help the environment. Win-win. The savings from skipping that $1.50 bottle of H20 from the gym or lunch spot, five days a week, is compelling. Potential savings: $400

Opt for Generic Prescriptions at Big Chains

Discount chains like Walmart and Target, and even some major grocery stores like Winn-Dixie and Kroger, offer low-cost prescription drug programs that provide generic versions of hundreds of common drugs for just $4 for a 30-month supply or $10 for a three-month supply — a fraction of the pharmacy price. Anyone can join these programs. What are the savings? It’s case-by-case. But let’s say you take Benazepril, which is the generic form of Lotensin and treats high blood pressure. It can cost as much as $36 (without insurance) at the pharmacy, versus just $4 through one of these discount programs. Potential savings: $380

Get Free Pampering

A routine facial could run you $100. Instead, make a mask at home. The occasional massage costs about $60 per hour (the national average). Instead, check out your local massage school. Most require students to give hundreds of hours of massages before being certified — at a discount or for free. Another trick: Take advantage of your salon’s free bangs trims if you need a quick refresh. Didn’t know they offer them? Chances are they do; this is a common but lesser-known freebie. Potential savings: $1,000

Convert to a Family Phone Plan

For a family of four, this could be a giant savings over the course of a year. According to the research team at WhistleOut.com, a site that lets you compare cell phone plans from all major carriers, four separate plans might be $70 a month each (conservatively speaking), or $280 combined. But you can combine them for a total bill of around $140 from all carriers. Potential savings: $1,700

Splurge – With a Discounted Gift Card

Last but not least, here’s how to enjoy that daily latte — or whatever your heart desires — while pocketing a few extra hundred dollars a year. Stock up on discounted gift cards from your favorite restaurants, clothing stores, movie theaters, etc. If that daily latte costs you $4 a day, that’s a little over $1,400 over the course of a year. Shave off 15 percent by using a discounted card. Potential savings: $200-$500