By Chuck Bentley

Below are some easy ways that my family saves money. I hope these tips will be helpful to you, too.

Soft drinks

There is a reason that soft drinks like Coke and Pepsi are some of the most recognized brands in the world…they can afford to spend a massive amount on advertising because the product is simply a mixture of water, sugar, a little flavoring and carbonation.

Paying close to $2 for a soft drink at a restaurant never makes sense to me.  When we eat out, we all order water.  It is free and with a lemon or lime, it tastes great.  For our family, that saves about $8 when we eat out and that adds up over time. We also don’t buy soft drinks to keep around the house. They are not only expensive; they are not good for our health.

Extended warranties

As a general rule, I don’t buy extended warranties. Here’s why:

1. Most products have a warranty from the manufacturer.

2. The fine print on the warranty usually makes it very difficult to actually use the warranty insurance.

When I shop the big box retailers for an item, especially appliance and electronics, they make it a regular practice to offer me an extended warranty. For them, it is a highly profitable practice. The odds are greatly in their favor that you will never need it or go through the hassle of using it.

Some salesmen have pushed hard to sell the warranties to me. I always ask them to show me the data that proves I have a higher probability of needing it than they have of my never needing to use it.  No one has been able to prove me wrong on that one.

Coffee

I gave up drinking coffee a couple of years ago.  I know…most of you coffee drinkers can’t imagine.  I found I was adding more and more sugar, cream and flavors to it and tending to order expensive lattes when I was on the road. It has saved me lots of money, I sleep better at night, and my teeth are whiter.  Not bad benefits for a little discipline to cut out a caffeine habit.

Originally posted 2/12/2015.