Items That Save You Hundreds of Dollars Over Time

According to The Simple Dollar, you can save about $200 over five years by using a clothesline instead of an electric dryer, and that’s excluding the cost of buying the electric dryer in the first place. And for the winter, you can get indoor clotheslines for as little as $5.

You might also like this list of things you definitely should not buy in 2019.

The Simple Dollar suggests that if you use an electric dryer, you should invest in a set of dryer balls, which cost about the same as fabric softener and make fabric softener unnecessary.

They also cut down the time it takes to dry your clothes by nearly half, saving you electricity.

Want to earn money while you sleep? Here are 20 ways.

Buying a cup of coffee at Tim Hortons will cost you about $1.70, which becomes $34 a month or $408 a year if you buy one cup every weekday.

As Clark Howard ’s consumer website points out, you can get a coffee machine for much less than that: a mid-range model will pay for itself within a month.

If you hate having to cook after a long day at work, you probably have your favourite pizza or Chinese restaurant’s number on speed dial.

The Simple Dollar says that with a slow cooker or crock pot, which costs around $40, you just put your ingredients in the pot before leaving for work and you'll have a home-cooked meal waiting for you when you come home.

As Cheapism says, you don’t need to heat your entire home – just the room you’re actually using. A space heater can cost as little as $50, which will save you a bundle in electricity over time.

According to The Simple Dollar, a programmable thermostat is another way to keep your house warm or cool and still cut down on the utility bills.

How much you save will depend on factors such as the type of thermostat, the size of your home and the cost of electricity in your area.

Clark Howard says that LED light bulbs not only use less energy, but last much longer than regular bulbs, so you save in two ways.

As Business Insider says, it’s wise to pay a little more for rechargeable batteries that will last you for years. A household battery charger will set you back about $20 or $30 and usually comes with rechargeable batteries included.

Canadian Home Workshop notes that many utility providers in Canada offer credits on future energy bills if you go solar.

Switching to solar power can cost a lot, but you can save now by opting for a portable kit for around $350 to use as a back-up for charging your computer, phone or other electronics.

The Simple Dollar says that even an expensive bike for commuting can pay for itself in less than a month if you consider the cost of buying and maintaining a car as well as the price of gas and parking. Of course biking to work can also save you the cost of going to the gym.

With a home gym you save on the cost of a gym membership and the cost of getting to the gym in the first place. As The Simple Dollar says, you may even use it more often. Tip: Buy used gear.

An energy-efficient car is another item that, according to The Simple Dollar, can save you a lot of money. Hybrid cars use less gas, as do smaller models.

Looking to buy a new car? Here are the best cars in Canada for 2019.

As The Simple Dollar points out, regularly buying bottled water is not only expensive, it’s also very bad for the environment. With a good water filter, you can get the safety of purified water without the financial or environmental cost.

Along with your water filter, you may want to invest in a reusable water bottle too. This way you can have water on the go, as The Simple Dollar says. Some models are insulated so they’ll keep your water cool and can double as a thermos for coffee or soup.

Save some money and perhaps you can be the richest woman in the world!

The Simple Dollar says that you can save as much as $500 over five years if you switch to cloth napkins and dishcloths rather than using paper towels. You’ll produce less household waste too.

If your baby only uses two diapers per day, disposable diapers can still cost you more than $2,000 over a one-year period.

The Simple Dollar suggests that you switch to cloth diapers, which even with the cost of washing them, will save you hundreds of dollars. They're also better for the environment.

If you go through a pack of tampons or sanitary pads at about $5 every month, it will cost you $60 a year. Reusable sanitary pads or a menstrual cup will cost you about half the price and will last for several years.

Clark Howard says that instead of renting your cable modem from your service provider, you can buy one and potentially save a lot of money. However, renting from your service provider may include free upgrades.

As Cheapism points out, an extended service or warranty plan on expensive electronic goods such as a fridge, a computer or a smartphone may seem like a scam until you need it.

For only a few dollars per month, you can save hundreds if you need to have the device repaired or replaced.

Did you know these terms? Check out the 20 financial terms most Canadians don’t know (but should).