How to save money?

[SeanH]

(1) Check the pressure in your tires. Underinflated tires decrease your mileage.
(2) Eat out less/Cook at home more - To put this in to practice you need to plan your menu for the entire week. Ask yourself - what day do I get home late where I wouldn't want to cook and might be tempted to eat out? Schedule the meals for convenience. Cook enough food to have leftovers and buy tupperware to bring it to work in.
(3) In the spirit of the above - do all your shopping in 1 big trip. Always bring a list (based on the menu of things you actually need). Reducing the number of trips to the stores saves gasoline and reduces your opportunity to spend money. If you aren't there then you can't spend money there. Don't buy things that aren't on the list.
(4) Take cold showers.

[ams]

I save approximately $100 a week on my groceries by using coupons. It takes a little time because if you prepare by comparing sale item to your coupons you'll save alot more. In most instances, you can "stack" coupons. Meaning, you can use a store coupon and a manufacturer coupon at the same time. And on buy one, get one free items, you can use 2 coupons...1 for the purchased item and 1 on the free item.

[mumpast]

Every paycheck put something into a savings account. If you can set up automatic deductions from your employer that is the best. What you don't see you will not spend. Even if you can only deposit a little amount, that is good. It will help you to develop the habit. Over time it builds up. Good habit no matter your income.

[Frugal]

Use coupons. Use coupons, and learn to combine them to maximize savings. Shop sales ads, and don't settle for Walmart's prices, thinking (wrongly) that they are always the cheapest. If you have to go to Wally-world, make sure you take some print copies of ads for other stores (such as cheaper local grocery stores), and they will price-match on most items at Walmart, saving you trips around town to multiple stores for a few sale items at each store.

Also, the key to saving money is not spending it, even if that means sacrifice like driving fewer days per week (I have only drive one day this week so far, but I am laid off, making it easier) and sacrificing eating out and temporary entertainment like expensive trips to the movie theater, mall, etc. A little sacrifice in the beginning can save a lot of dollars extra. I have instituted "no shop, no spend" or "no drive" days, and it is difficult at first, but not so hard now to follow this discipline. I see the rewards already in my bank account!

Finally, paying off debt will save you a lot of money in the long run, if you pay down the principal faster than required. I am doing this on my student loans, and it sure saves a lot of money. Already paid down a lot of principal by scrimping on unnecessary expenses.

[Frugal]

I use coupons, free samples. etc. to save money. I also shop sales ad.

[alphadore]

Originally Posted by Fizgig

Once you decide how much to save, set up an automatic transfer to a savings account with each paycheck.

This is pretty smart. By this way, you wont be able to spend the money for buying unnecessary items.

[Frugal]

To save money, you can also stock up on food, cut out eating out, and try to rotate having dinner with friends and at your own home to make it seem like you are eating out. You can also freeze and store extra produce that is cheap now in the late summer months (e.g. peppers, tomatoes, peaches, etc.), because the price of that produce will go up dramatically in late fall and winter, once the general growing season is over. You can also try to shop restaurants.com for deep discounts on gift certifs if you feel you really must eat out. I just saw some deals up there today, but sadly, they don't have certificates to good restaurants in my area.

[Frugal]

Some other quick ideas (I love the topic of saving money!): Have no-spend, no-drive days. Learn to use what is in your pantry and look up ingredients you can combine on a good food website. There are sites out there that let you simply type in the ingredients you have on hand, and then it will compile a list of what you can make simply with what you have on hand already at home.

[jasminhatcher]

Say no to credit cards, say no to eating out every day, say no to driving when you can walk, and say no to spending more than you make.

[grahampmortimer]

Wow, there are so many ways. Some work for some people and some don't. I do a number of things that have become habit over the years. For example, just turning my thermostat down 2 degrees saves a lot and you don't notice it. At night, all the lights and other electrical items are turned off. I reuse water where I can and I don't waste food. This seems to help me!

[BMEPhDinCO]

My you got a lot of quick (and good) advice!

My personal big thing? Pretend you have no money! For example, I currently have over $1,000 in my "fun & gas" account(s) - but I have $5 in my wallet so I can't go out for lunch, since I have no money - thus I continue to save instead of spending by telling myself NO.

Another big one: pick something you REALLY want to do - figure out the cost (ie, I want to do an African Safari - that's going to be around $8-10k for two) and then every time you DON'T spend on something else, put the money into your "I really want this super cool expensive thing" fund. Once you get that all saved, either you can do something amazing or you'll decide you don't want to anymore and you will have money for something else. (this works for smaller things too - in otherwords, never by on credit and always sleep on it)

[grahampmortimer]

Wow, what an open question. Here's an open answer. Spend less than you earn.

[alex499]

Firstly clear off any debts you have then start savings according to your income

[Tyson]

Very good posting.
I think bank is the best place which you can save your money. Go to the bank and open
an account and then transfer your money in bank.
Thanks.

[henrywilliams]

well I would suggest you to spend less on movies and shopping as much as possible

[ThePlantGuy]

If you keep a log of every penny you spend and then categorize your spending at the end of the month, you'll be surprised at the amount money wasted each month. You'll also be surprised at how much money you can't account for.

[lodoren]

Pay off any outstanding debt, spend less than you earn and never pay full price for ANYTHING!

[francisjs11]

I just read a very helpful magazine outlining 4 main ways to save money. 1. Before you buy an expensive item take time to consider whether you REALLY need it. 2. Before buying an item check to see if there are discounts are used articles in excellent condition. 3. Discipline yourself not to be impulsive. Sleep on it before buying anything. 4. Instead of eating out, buy the ingredients and cook at home. It is so much cheaper.

[kamilopolo]

Try to minimize spending it on fast foods

[Baylee]

1. Set a goal: What do you want? How much does it cost? How long do you want to wait to get it? Once you've set an amount and a date, divide this up into smaller goals. For example, if you want to buy a new HDTV next year, you might figure on spending about $1,200 for it. That's $100 a month you would need to put in savings, or if you get paid bi-monthly, $50 each paycheck.

2. Make a budget: Where is that $50 going to come from? Figure out what you spend on everything and eliminate what you don't need.

3. Pay yourself second: Each paycheck, cover all your necessary bills like rent and utilities, and then take out the amount of money you need to reach your goal. Put this money in a safe place where it's not easily accessible, like a bank account or a piggy bank. Think of it as another bill. Buy discretionary expenses using only the money left over