10 Money-Saving Tips to Help You Stash $10,000 – Tip #2

by Jason on February 23, 2010

Tip #2 – Entertainment

So, we’re on day two of our roughly 10 day journey to save $10,000 over this next year.  If you missed the introductory post of 10 Money-Savings Tips to Help You Stash $10,000 you’ll definitely want to check it out so we’re all on the same page.

But to sum it up – here’s our mission:

  • The Goal: Save $10,000
  • By When: This time next year
  • How: By implementing 10 money-saving tips

For the next couple weeks we’re going to look at one money-saving tip each Monday, Tuesday and Wednesday.

On Thursdays we’re going to hear Personal Finance bloggers’ and hopefully some readers’ ideas and experiences on how they’ve saved money!

If you’d like to be included in the Thursday posts – please let me know your best money-saving tip here!  We’d love to hear your stories of what you did and how much money you saved by implementing your tip!

If you’re a blogger and have posted about your money-saving tip, please include a link to your post!

Tip #1: Cut Back on Going Out to Eat

Tip #2 Evaluate Your Entertainment

 wheredidthemoneygo

Over the course of this journey, we’re breaking down the US Bureau of Labor’s statistics on average consumer expenditures and taking a look at some ways to cut back.

Next we tackle your entertainment.

Maybe your entertainment budget includes going out to eat like ours does, but even so you should probably evaluate your other forms of entertainment.

According to the most recent survey, the US Department of Labor reports that the average American family unit spends $2,698 a year on entertainment costs – or roughly $225 per month!

Are you movie buffs and love going to the theatre?  You’re well aware it’s easy to drop a 20 spot without blinking.  After your ticket, a popcorn and a soda, your Andrew Jackson is throwing you a goodbye kiss on the way to the register!

Maybe you enjoy going to professional sports games, going out for a night on the town with some friends or hitting up the local Starbucks several times a week while reading a book.

Again, the challenge here is not to get you to stop doing these things – it’s to challenge your conventional thinking to see if there are some ways to trim the fat.

Finding Frugal Entertainment Alternatives

If you’re a social butterfly, this doesn’t mean you have to turn into a homebody or that you can’t get out of your house to have some fun, but think about some alternatives.

How about starting a Frugal Club like Tisha talks about over at Wise Bread.

The first rule of Frugal Club is you don’t talk about Frugal Club!

Sorry, just seeing who’s on their toes.

Try waiting for a movie to come out on DVD or going to the town’s local theatre if you have one.  Sure, you won’t get to see the latest and greatest, but you’ll save some money.

Try getting together with some friends at your house and enjoy a game night!

We just did this last weekend with some friends.  We ordered pizza, played some games, had great conversation and a ton of laughs!!  Total cost?  $10!

Get your friends on board with your saving challenge so they’re not enticing you to go out every night.

Try alternatives like local museums that offer free or discount days.

You get a bunch of friends together and go camping.  My wife and I do this every year and we love it!

Get creative, frugal living doesn’t have to be boring!

You don’t have to stop spending on entertainment, just look for some fun ways to cut back.

Estimated Savings: $25-$100

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Check Out All The Tips From Our Series

Tip #1: Cut Back on Going Out to Eat

Tip #2: Evaluate Your Entertainment

Tip #3: Cut Your Cable

Tip #4: Turn Your Heat Down

Tip #5: Negotiate Your Cell Phone Plan

Tip #6: Get Rid of Your Land Line

Tip #7: Slash Your Grocery Bill by Cutting Out Junk Food!

Tip #8: Use Coupons, For Everything!

Tip #9: Negotiate Your Home and Auto Insurance

Tip #10: Start Packing Lunches!

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