Andrew Stucken
Myth 1: Buying bulk at the supermarket always saves money The unit price of bulk buys is usually cheaper. But it pays to ask yourself whether you use the product regularly. If it will go bad before you have finished it off, where is the saving?
The unit price of bulk buys is usually cheaper. But it pays to ask yourself whether you use the product regularly. If it will go bad before you have finished it off, where is the saving?
Myth 2: Filling up early in the morning means you get more petrol The theory goes that fuel is denser when cold and thus you get a little bit more. In fact, filling station fuel tanks are normally buried deep enough to minimise temperature fluctuations.
Myth 2: Computer screensavers save energy Computer monitors which dim when not in use draw less power than a traditional screensaver. So says non-profit research group Climate Savers Computing Initiative.
Myth 4: Air conditioning in your car wastes fuel This piece of money saving advice can be jettisoned. In fact, opening windows for ventilation increases drag and thus costs fuel – better to use the A/C after all.
Myth 5: Shopping at the sales saves money Unless you would have bought the item anyway, it is just money you would not have spent otherwise.
Myth 6: You get what you pay for The adage may sometimes be true - but higher prices do not always mean higher quality. For example, generic drugs are medically considered to be just as effective as brand-name equivalents.
Myth 7: Saving money depends on income Don't fall into the trap of thinking that you cannot save. Regardless of income, pay yourself first – i.e. set aside a certain amount each week or month.
Myth 8: Change oil less often to save money Oil changes are not costly but car engines are. Spinning out changes a bit longer offers a tiny saving and exposes your engine to greater risk. Ideally you should change every 3,000 miles.
Myth 9: Washing dishes by hand saves more money than a dishwasher An efficient dishwasher can use less water than handwashing, so there is no reason to avoid using it, if you have one.
Myth 10: Portable heaters will always cut your fuel bill They can if you keep your home much cooler - and use a portable in just one room to boost your regular heating. But several heaters are likely to cost you more in electricity than keeping your central heating at a comfortable level.
* Written by Andrew Stucken, this article was published on November 26, 2009. Andrew's opinions are his own and for general information only. Always seek independent professional advice.