Extreme Ways to Save Money

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How Far Are You Willing to Go?

Talk about some belt tightening! The national savings rate has skyrocketed to 6.9% -- a 15 year high.Some analysts are predicting a double-digit savings rate next year as this recession scares consumers into a “back to basics” mentality not seen in our country for a long time.

That may put a damper on how quickly the economy turns around, but it’s great long-term news as people spend less, borrow less and save more for their future. Personal finance experts Ken and Daria Dolan of Dolans.com, applaud the efforts, but have been a little surprised at just how far people are willing to go in their efforts to save.

Check out these 17 extreme ways to save. You be the judge -- smart ideas or outrageous?

First Up: Finders Keepers

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Finders Keepers

"Find" things you need in the lost and found at work, the library, gym, daycare, etc. You might never have to buy an umbrella again if you are willing to go this route. And if you don't mind wearing mis-matched gloves, you could be set for life!

Next: Don't Toss That Pet Hair

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Don't Toss That Pet Hair

This one falls into the crazy but true category! People are actually learning to turn pet hair into clothing -- we’re not kidding. Kendall Crolius shows readers how to turn pet hair into yarn in her book “Knitting with Dog Hair.” Not to be left out, cat lovers are on the bandwagon as well.

Next: Risky Driving Technique

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Risky Driving Technique

One of the more outrageous ways we’ve seen to save money is to turn off your car ... while it’s still moving! While the American Automobile Association warns against this technique, some extreme savers promote it as a way of saving gas. They suggest you use the car's momentum to glide into parking spaces or move downhill to get where you're going without burning any fuel. Our take: it’s just not worth risking your safety (or someone else’s) to shave a few dollars off your gas bill each month.

Next: Pan Braised Squirrel Anyone?

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Pan Braised Squirrel Anyone?

No extreme ways to save listing would be complete without this one … road kill for dinner. There are dozens of tasty (gulp) recipes to be found in road kill cookbooks and online.

Next: Dumpster Diving

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Dumpster Diving

You’d be amazed to see the things that people will throw out! Drive around early in the morning on trash day and you can find furniture, televisions, artwork, exercise equipment -- all kinds of things -- just parked on the roadside and yours for the taking! Going with used merchandise is a GREAT way to save some big bucks. Of course, make sure any item you pick up is safe and sanitary. Think twice about going with used baby equipment, for example.

Next: An Expiration Date Is Just a Number

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Ignoring the Expiration Date

Here’s a money saving idea we can’t support. Some folks suggest stretching your dollar by using items like food and medication past the expiration date. Bad idea. There are plenty of ways to save on groceries and medicine without putting your health at risk!

Next: Extreme Recycling

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Extreme Recycling

Some serious savers make it a rule to re-use everything. That includes teabags, dryer sheets, aluminum foil and wrapping paper. Many people re-use plastic bags, but extreme savers go one step further and stop buying them altogether, using substitutes such as plastic newspaper bags or the liners to cereal boxes instead.

Next: Here Kitty, Kitty ...

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Here Kitty, Kitty ...

Kitty litter is expensive -- and cleaning up the box is no fun. You can cut costs and save a chore by toilet training your cat according to the most frugal pet owners. (No, we're not kidding!)

Next: Just Add Water

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Just Add Water

Some frugal consumers stretch their dollars by watering down items to make them go a little farther. This includes watering down milk, cleaning supplies, spaghetti sauce, liquid hand soap and detergent, to name a few.

Next: An Easy-Bake Oven for Grown Ups

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An Easy-Bake Oven for Adults

Have you ever gotten in your car on a hot day and thought “it’s hot enough to fry an egg in here” … well, how about a cookie? Nicole Weston of Baking Bites has developed an interesting method of baking cookies without using the oven. She cooks them in her car on hot days. She says it needs to be at least 95 degrees outside for this to work, and the cookies take about two and a half hours to cook.

Next: Pass the Ketchup

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Pass the Ketchup

Does this one skate right up to a moral line, or cross over it? You decide. Some savers pocket a few extra condiment packets, straws, napkins, etc. anytime they visit a fast food restaurant.

Next: Use What??!!

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Use What??!!

Some extreme savers advocate skipping the expense of buying toilet paper, and using washable rags or (gasp!) newspaper instead? We're all for frugality, but this might be taking things a little too far!

Next: While We’re on the Subject …

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While We’re on the Subject …

Here’s another savings strategy that some consider smart and others find outrageous … don’t flush. Cut down on your water bill by being a bit more selective about whether or not you flush the toilet. We’re just going to leave it at that.

Next: Practice Makes Perfect

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Practice Makes Perfect

Are you a risk-taker? If so, you could save some money by letting students practice their soon-to-be profession on you. You can contact a dental school and let a dental student practice on you if you are the brave type. This also works for massage therapists, hairstylists and acupuncturists.

Next: Waste Not, Want Not

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Waste Not, Want Not

How many times have you been at an event and seen trays of food leftover? Save on groceries by volunteering to clean up after parties at work, school, fundraising events, etc. and take home the leftover food.

Next: Hot Water Be Gone!

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Hot Water Be Gone!

Do away with washing your clothes in hot water -- even whites. Up to 90 percent of the cost of using your washing machine comes from heating the water, according to The Consumer Energy Center. So this is a quick way to save if you don’t need your whites so bright.

Next: Say Goodbye to Mr. Clean

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Say Goodbye to Mr. Clean

Make your own cleaning supplies. Combine vinegar and lemons with water for your own, non-toxic cleaners. There are plenty of cleaning solution recipes out there, and many of them are neither harmful to the environment nor your health.

Depending on where you fall on the scale, some of these ways to save may seem perfectly acceptable or downright outrageous. The good news is there are tons of ways to save without having to resort to a Fido vest. Learn dozens of ways to save money at Dolans.com, including how to find extra money fast and ways to cut your cable and phone costs.