Use Timing & Planning to Save Money

Posted On 2 June 2020

Last updated on April 9th, 2024

The other day I told my 13-year-old son that the yard needed to get mowed that morning. I had looked at the weather forecast and saw that there were a couple rainy days coming. It had been a week since the yard was last mowed, so while it wasn’t in bad shape, it still needed to be mowed.

Grudgingly, he came out with me and mowed while I supervised and did the weed eating. As he was finishing the mowing, we felt a few sprinkles. He said to me, “Dad, we mowed this just in time!” He was correct – We did finish the yard just in time. Less than an hour later it was pouring rain.

What does mowing the lawn have to do with finances? A couple things. First, it is a parent’s job to teach our kids how to work and how to pay bills. You can read more about that here. The second point, which is the topic of this post, is timing.

The lawn was ready to be mowed. Rain was on the way, and that would help the grass grow more. With finances there are certain times when things must be done. We may not want to make the payment, although it still must be done.

Late Charges Suck Money

In the past I have paid late charges, and they are something I hate! Why do banks charge people that don’t have enough money already? Good question.

Late charges will usually cost you more than $25. There are so many other things that money could be used for. If I am going to just waste money, I want to at least get some enjoyment out of the experience, such as with drinking. Late fees don’t even give a hangover, and they need to be avoided.

If you are paying late fees, eliminating them needs to be your top priority. Do whatever you can to make sure that you are paying your bills on time – even if that means skipping some meals, selling plasma, or having a yard sale. Once you get your payments under control, you can then use the money that was going to fees to help pay down your debt.

Maintenance when Needed

Fixing things when needed not only saves money, it is good for your emotional well-being. The maintenance can be oiling a squeaky hinge, mowing the lawn, tightening a loose cupboard handle, or changing the oil in the car.

Changing the motor oil in the car is something that can be easily neglected. Regular oil changes help extend the life of the engine. Oil changes don’t take very long and they can even be done at home. As a side note, if you don’t know what you’re doing under the hood of your car, bring your it to a professional!

Gas in Vehicles

As you know, I like to save money wherever I can, and gasoline is no exception! It all goes through the same pipeline network. In fact, an oil company can add gas to the pipeline in one place and receive that same amount of gas at another location at the same time. A petroleum company may mix an additive into the gas after they receive it from the pipeline. Since gasoline is gasoline, and it is all basically the same, price (and reward points) is my determining factor on fueling up!

This is where the wonderful app Gas Buddy enters the picture. If I am going to drive to another town that’s an hour away, I check out the gas prices before I travel. Why not fill up at the best price if I’m going to be in that area anyway? A little bit of planning can save you a fair amount of money.

Cellphones

Phones are a purchase that can be planned. There are several ways that phone purchases can be planned. If you get a phone on a 2-year plan, get the phone between Black Friday and Boxing Day (the day after Christmas). That is when the prices tend to be the best for cellphones.

The other aspect of cellphones is that they don’t have to be upgraded just because a new model was released! Manufacturers want you to do that, but are you interested in doing what is best for them or what is best for yourself? Feel free to read my post on how to maximize cellphones.

Case Lot and Wholesale Clubs

In our house, we use something that I call the 1-Up System where we keep at least 1 unopened container of a food item at home. Case lot sales and wholesale clubs are a great place to stock up on items. Not everything is a deal at wholesale clubs, although a lot of items are less expensive. When we wait until we find a needed item that is on sale, we can get food for a lot less, sometimes even half price!

Using timing to your advantage is a great way to save money without changing what we are already buying. Just a little change to the when and where purchases and transactions are done can really add up!

I encourage all of you to look at your accounts and see if there are any late fees. Also, see what you can do to adjust your purchases to get as much as you can by buying when items are on sale, or purchasing by the case or in bulk. I leave you with the words of Ben Franklin from the 1758 almanac, “A penny saved is a penny got.”