Is Your Money Leaking Away?

The other day, I was putting the cushions for our patio furniture away when I realized we have had them for at least ten years. They’re nothing special. I bought them at Home Depot for less than $20 each. They’re definitely not something you’d expect to last so long. So what is the secret?

The secret to their longevity is in what I was doing when I had my revelation; putting them away. We put the cushions in a container when we’re not sitting on them. They don’t get left out in the sun or the rain. They stay nice and dry and ready for use every time we want them.

They’re still in perfect condition. If I had to replace them today, it would cost me around $140 for the four of them. There you go. $140 saved. If you assume I would have replaced them at least a couple of times in the last ten years, had they not been so well protected, that’s a few hundred dollars saved.

I’ve written before about the value of maintaining the big things, like your car and your home systems and appliances. But there are lot’s of little places where your money can leak away.

It turns out your Mom and Dad were right.

“Put the tools away!”

“Don’t leave the windows open while the heat is on!”

“Don’t stand with the refrigerator door open!”

The reason they said those things, wasn’t to annoy you. It was to save them money.

If you put the tools away instead of leaving them out in the elements they last longer. Leaving even one window open with the heat or AC on needlessly increases your utility bill, as does leaving the refrigerator door open any longer than necessary.

Now, admittedly, you’re not going to retire on the money you save by putting your patio furniture cushions away, or making sure all your windows are closed if the heat is on. But money is a precious resource representing your time and hard work. Letting it slip away needlessly means you simply have less for other things that are actually important to you.

Maybe you would find a bit of extra money to take your partner out for a nice dinner. Or maybe you’re able to save up for that weekend get away sooner than you thought. Or you might just be able to increase the contributions to your retirement account.

Everyone has little ways that money quietly leaks away from them. Simply being cognizant of the possibility will help you find yours. If you can plug as many of those leaks as possible, you may be surprised by how much extra money you have to do the things that are truly important to you.

2 thoughts on “Is Your Money Leaking Away?

  1. Julie,

    I loved the familiar quotes in this post from your mom and dad. Looking back, one of my favorites was, “Money doesn’t grow on trees.” I’m wondering if your readers have some other oldies but goodies?

    Thanks,
    Jason Phillips

    Like

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