Best Frugal Advice?

[globetrotter]

If you could only give a person one piece of advice on how to be frugal to a person who isn't frugal at all, what advice would you give them?

[globetrotter]

I guess I should elaborate a bit more. This is for a friend who says "I want to save money" but doesn't act that way with her money at all. I just want to be able to give a nice quick answer the next time she asks me, "How can I spend less" that will make her think on her own.

[sarah]

I'd tell her to write down every penny she spends for a month. Then at least she would know where her money is going.

[PennyPincher]

I would recommend trying not to buy anything that isn't on sale. It limits the universe of what is available, but that can make it easier sometimes... I do this just about all the time on clothes and shoes, and nearly 90% of the time w/groceries and going out to eat. If I don't have a coupon or it's not on sale, it can wait.

[crosses]

Maybe say to stop using credit cards. My friends that have spending problems seem to abuse their credit cards.

[choconut]

Summing up an expense over a period, like a month, works for some people. Like buying a cup of coffee at the coffee shop because the coffee shop is there, not because you need it. If the person smokes... then use that... that works best.

[miclason]

"Every time you reach for your wallet, ask yourself this: Do I really NEED it, or do I merely WANT it??, and be honest with your answer!"

[terry1156]

Pay yourself first. You hear it all the time, but it is the easiest way to start saving. Take the money out and learn to live on the rest.

[seaar2000]

U agree with terry. Pay yourself first. Nobody else will. Even if you start only with $5.00 it's better than not starting at all. Keep track of your spending. Start an emergency fund.

[Lori63]

I don't work during the summer (I work at a preschool) and even though I don't make a lot it was missed this year. So, every paycheck I get now I put $20 in a jar (hidden from everyone but me), $20 or more in savings and use the rest. That way I know I'll at least have some money next summer.

[amomof4]

I'd tell them, "If you keep doing what your doing, your only going to get what you got".

[Armywife]

I'd say.. "pass up a habit!"
Not only are you watching out for her health... you're helping her free up a whole wad of cash she hasn't seen in a while.
(Soda & candy counts as a habit too, right? )

[mjrube94]

I'd ask her what she wants to do with the money she saves. If there's nothing in particular that she wants to shoot for, chances are the little money wasters will be more important. But if she's saving for something concrete (a vacation, a car, etc.) that will help her focus. Then I'd have her write down everything she spends for a month to see where the money goes...

[Razzy]

My best advise would be is buy or make cloth napkins and use them to use them as you would a paper towel. I also use mine as facial tissue and I know this has saved me a bunch of money.

Razzy

[PRICEPLUS]

1) Use it up!

2) Wear it out!

3) Make due!

4) Do without!

With the exception of a house, and possibly a car, always pay cash or do without until you can pay cash.

Simplify! Simplify! Simplify! -Thoreau

[Razzy]

I really try to follow that advise but I do see myself falling off the wagon every once in awhile.

Razzy

[skipper]

I buy used as much as possible you can find stuff used in great condition for so much less I

[miclason]

Aoid the mall if you can!!

[Razzy]

I like to go through the catalogs and figure out if I can make the things I see, and want, cheaper. Sometimes it works sometimes it doesn't. But what always wins out is practical things for my dd.

Razzy

P.S.
I rarely if ever catalog or web shop. I only but from the web or catalog if it is something I cannot get from a store and something I absolutely need and will last a long while.

[daveo]

Plan out a budget, where everything is laid out - including all bills and expenses that are due. Make more than the minimum payment. Plan for at least 10% to go into a savings account and live off the rest.

Also, make realistic judgment calls. Err on the safe side. If you simply can not find money in the budget, don't try to squeeze it in. Too often I think we try to live out a "theory" rather than in real life. It is easy to layout something on paper, but when it comes to living and following through, it simply becomes more difficult...

And remember, there has to be some compromise. All work and no play makes for a dull life. Plan some fun into the budget, because it is okay to splurge every once in a while.