The Big Table of Savings

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The Big Table of Savings shows the annual savings from taking specific actions.  This list is meant to help prioritize your savings actions and help you avoid being “penny wise, pound foolish”.

Follow the links below to learn more about our how to save money with each action.

Action Annual Savings
Make after tax contributions to a 401(k) Plan $16,693
Move to an area with lower cost of living $15,450
Make pretax or Roth contributions to a 401(k) Plan $14,055
Buy cheaper (but still healthy) foods $8,319
Move to a state with lower taxes $6,400
Move to a smaller house $6,250
If two partners make a lot of money, don’t get married $5,000
Sell your car (or one of your cars) $4,000
Contribute to IRA (Individual Retirement Account) $2,741
Contribute to HSA (Health Savings Account) for retirement expenses $2,741
Contribute to 529 College Savings Plan $2,180
Prepare all food at home (instead of eating out) $2,136
Make your lunch and bring it to work $1,750
Take advantage of credit card sign-up bonuses $1,600
Use a discount wireless carrier for your phone $1,440
Cancel television service (cable or satellite) $1,356
Shop at a warehouse store (Costco or Sam’s Club) instead of local grocery store $1,326
Contribute to HSA (Health Savings Account) for medical expenses $1,228
Grow your own vegetables and herbs $1,185
Grow your own fruit $1,126
Contribute to Commuter Benefits FSA $1,100
Contribute to Dependent Care FSA (Flexible Savings Account) $916
Reduce television services (no premium channels or service) $756
Make energy efficient improvements to home $600
Maintain promotional rate for television and internet services $360
Shop around for multiple quotes every year on your home & auto insurance $300
Use a reduced amount of common household products $254
Use high rewards credit cards $240
Live in an area with lower energy costs $200
Maintain good insurance rating characteristics $200
Donate items to a charity for a tax deduction $125
Air dry your clothes instead of using a machine dryer $120
Replace an electric water heater with a gas water heater $100
Replace an electric dryer with a gas dryer $80
Prepay your auto insurance (instead of monthly payments) $60
Raise deductible on your insurance $50
Clean the dryer’s lint trap regularly $34
Replace a standard clothes washer with a high efficiency model $32
Use a dishwasher (if you’re a renter) $31
Use cold water to wash all of your clothes $30
Hand wish dishes (if you’re a homeowner) $14