What are your top 5 ways to save money?

[Jenniflower]

Hey everyone -
Just wondering what your top 5 ways to save money are!
This can be anything from using florescent lightbulbs to finding the best interest rate for your mortgage.

Let me know - this will be fun!

[txex86]

In no particular order:

use grocery coupons for items my family actually uses
compare grocery store circulars to find the best deals in the area
combine trips out to stores to save on gas
play/coach basketball with my daughter at the local gym (free) so that we don't have to hire a personal coach in the off season
don't go to the mall to "look around" which ends up in spending money

[LuxLiving]

Okay I'm going to list six instead of just five.

1. Pay cash - no revolving credit card debt.
2. Menu plans for meals / shop with a list.
3. Limit eating out/fast food to once a month.
4. Shop around for insurance rates.
5. Plan and execute numerous NO SPEND days.
6. Drive the wheels off of my vehicles, remembering that they are foremost -- transportation.

[Ima saver]

My husband has always worked by the hour. We decided to also charge a percentage of materials and subcontractors because all of the builders do that. Since I was not used to that extra money each month, I vowed to save it and I have saved that extra check every month. This has really added up.
I keep my hot water heater turned off and my electric bill for a big house is pretty low.
I do not go to the mall.
I quit buying things I really do not need.
I buy food when it is on sale and use coupons and store cards.

[cschin4]

1. When eating out, we don't buy drinks or desset. Everyone gets water! If we want dessert, we stop at the grocery store on the way home and buy a gallon of ice cream, pie or whatever we were hungry for.
2. No Recreational Shopping. - I don't go out and "browse". The simple fact is the more I shop, the more I will spend. I don't go unless there is something I need and something in particular I am shopping for.
3. Before I go and buy another thing, I look around my home for ways to "make do" before going out and getting something. Many times, I find there is something I had forgotten in the basement that can do the job of what I am looking for.
4. No Bulk Shopping - For me, this did not work. I bought more of what I needed and then found it would never get used. I try to buy less and buy what I need.
5. Cheap Hobbies - I am easily amused by the simple pleasures in life. So, I don't have to go out seeking fun and entertainment. I still do, but also am very content to just stay home and watch the birds.

[Fern]

There are 2 ways to save money. One is to cut back on expenses and the other is to put more into savings.

Cut Back on Expenses:
I would define my Top 5 as being the ones where you get the biggest bang for the buck. Thus they would have to be:
1. Re-examine your mortgage to see if you can refinance or better yet, do a readjustment.
2. Look at your car insurance policy and aim to take advantage of as many discounts as you can (safe driver course, etc.)
3. Buy 1 car, pay with cash and then drive it into the ground. No frequent trade-ins, etc.
4. Pay your credit cards in full each month.; If you can't pay it in full, reduce spending! This is a cardinal rule.
5. If you are easily seduced by the latest advertising/marketing, avoid watching TV, reading the paper or otherwise coming in contact with pitches aimed at getting you to buy something.

Top 5 Money Saving Ideas:
Again, the ones with the biggest bang for the buck would be:
1. Contribute as much as you possibly can into your 401k
2. Fully fund your IRA
3. Pre-pay your mortgage
4. Make regular savings a part of your everyday budget, meaning, pay yourself first; spending discretionary income should come last.
5. Consider a side job

I realize not everyone will be able to do all these things, but in in ideal world if you could, these would maximize your savings.

[Coleroo]

1. automatic paycheck deposit to savings accounts I dont plan on touching
2. NO credit card usage - not even for "rebates"
3. cook meals at home
4. cut out all (or as much as possible) unecessary fees (this ranges from account maintenance to unneeded cell phone extras to gaining low or 0% interest rates)
5. just dont go into a store.

[savingandinvesting]

Top 5

- automate as much of the saving and investing as possible
- use tax advantaged saving
- diversify
- be organised about purchases
- focus on fitness so that there is less of a need for retail therapy
- avoid making the process completely unpleasant

[Mommysavers]

1. Stay out of the stores as much as possible
2. Pay yourself first to build savings
3. Avoid eating out for convenience
4. Wear it out, use it up
5. Find free or low-cost ways to entertain yourself

[Ima saver]

Join the $20 challenge!!

[katwoman]

One thing that hit me when I was cleaning out my condo - I lack for absolutely nothing! Not bras, not panties, not hose, not socks, not towels. You get the picture. So #1 would be:

1) Shop in your own closets/drawers. You'd be surprised at what you already own.
2) If it dosen't have a coupon/rebate, don't buy it.
3) Use rewards credit cards/debit cards/checking account. Better yet, use a cash back card.
4) If you can buy online through cash back sites and with discount codes and with little to no shipping, it's way better than wasting your own gas and time. Of course, you would also be paying with the #3 method.
5) Follow the Walgreens/CVS/Staples/Office Depot/Menards threads on fatwallet.com, slickdeals.net and hotcouponworld.com. Do these free or free-after-rebate deals religiously and just amaze yourself at what retailers are willing to give away just to keep your business while you swim in free stuff!

[minnie1928]

1. Coupons & CVS Extra Care Bucks program
2. Rewards cards. Also, occasionally if I get a really good offer for balance transfers I've been known to write a check for several thousand and sit the $ at a high yield online account and then payoff the balance before the terms change. I did this earlier in the year and cleared about $200 after fees.
3. Constantly looking at ways to lower the electrical use at home. Cut my bill by about 40% in the last year.
4. Combine trips as much as possible in order to save gas & time.
5. Most importantly....NO RECREATIONAL SHOPPING! I only shop when I need something.

[jodi]

1. Buy used in nearly everything (after checking Freecycle, of course).
2. Buy damaged in some things (i.e. scratch and dent food store saves me about 50% without coupons or sales).
3. Free entertainment (games, walks, etc.)
4. When I have to buy something new, I shop around and keep a mental price book. I have set limits that I won't spend more than on any particular item.
5. Calculate any expenditures in terms of how many hours I had to work for them. You would be amazed at how many items you put back on the shelf after you figure out how long you had to work for it.

These are in addition to many of the great ideas mentioned above!

[debttalk]

1. Get rid of your cable. You'll have time for things that are a better use of your time.
2. Step down on any high speed internet - DSL is pretty cheap and just about as fast as most cable (will you really notice the difference?)
3. Before buying something, check Amazon.com. I've saved a ton of money from buying on Amazon as opposed to stores. They aren't always cheaper, but sometimes you get absolute steals.
4. Before buying anything online, check to see if there is a coupon site with an offer. Just do a search for "Site coupon" and see what pops up.
5. If you do eat out for convenience (which you shouldn't do), drop the drink and fries (and try to get something remotely healthy while you are at it)

[ceejay74]

My Top Five

Hmm...this is good! I was going to say I don't have any methods since I just started being frugal. But I guess I have taken some baby steps to reducing my budget and cutting down debt:

1. Write everything down (budget, total debt, total income), and check bank account balance daily.

2. No spending money until bills are paid. Project budget for at least a month and a half out, adding in any expenses I know are coming. Those come out of spending money, so whatever is left over is what we get to use. Take it out of the ATM and carry it around; seeing it dwindling keeps me from buying magazines or sodas.

3. Almost no more eating out or drinking out. Plan weekly menus and stick to it. Comparison-shop at grocery store. Buy produce at farmers market. We now host "happy hour" at our house every few weeks. For about $40, we can entertain ourselves and a handful of friends with plenty of food and drink; far less than it used to cost for the three of us to go out and just pay for our own tab. Some friends have even repaid the favor with cocktail nights of their own; hello free entertainment!

4. Cheap hobbies: gardening, Netflix, puzzles and games, special TV nights at friends' house, writing my blog on this website. :-)

5. Being open with my household about why I'm suddenly restricting our spending. Show them our debt and budgets regularly so they see I'm not holding out on them. Congratulate and praise them when they do something thrifty (yes, even adults respond well to that!) Plan "splurges" into the budget weeks in advance so they're already paid for when they come around. Don't allow the regular kind of splurging to hang out with you anymore--it's a bad seed!
CJ