What are your top 5 ways to save money?

[Daniel_Shop]

1) I have a motorbike and my wife has a car. So I have lots of fun with my moto and save a lot in mobility expenses.

2) I buy groceries online so I earn lots of rebates

3) I use coupons whenever I can

4) I don't buy shoes for more than $100 dollars (although I have only one pair of very expensive shoes)

5) I never, never buy latest technology toys (TV, PC whatever)

[MonkeyMama]

Tough to list JUST 5.

1 - Don't spend a lot of money on cars in your youth (go very old in the $1k-$5k range).

2 - Pay cash for everything - no debt. No auto loan, I would be wary of school loans too.

3 - Save all/most of your raises & never spend a second income (along the same lines)

4 - Don't buy more house than you can truly/comfortably afford

5 - Set an allowance for buying stuff you don't need. Limit it to a small amount annually (your luxuries).

I always say I go for the big stuff - I find it far easier to cut the fat on the big stuff like this - makes life much easier.

[Ima saver]

When every I buy some thing that requires a loan from the bank (example , a loan on property) I pay as much extra on it as i can each month. I paid off a $64,000 loan in 24 months.
I make my own filtered water.
I read my electric meter everyday.

[rblvstl]

Wow, those are all great ideas. Here is my two cents.

1. Plan weekly meals ahead of time and only buy those items with coupons.

2. Spend your paycheck on paper first, so that you know where all your money is going before you even get it. Great for planning out bills and entertainment

3. Netflix instead of movies. For $10 a month you can watch 30 movies (one every night of the month)

4. Stock up on items when Walgreen's/CVS and others have great sales. Match circular up with coupons.

5. If you need to go shopping for clothes, try consignment of TJ Maxx. IF you hit a consignment or even Goodwill in a rich neighborhood you can get clothes that still have tags on them.

[poundwise]

The first two that I typically tell people are (1) stop borrowing money and (2) stop dining out/fast food.

[Suthingal]

First Post here!

I have a large family...there are many things we have to do to make our $$s last. Here are our top 5...

#1 Freezer cook: read about it online, but the jist of it is you cook for the whole month in a matter of a couple days. Buy meats when onsale cheap and cook for the whole month. This cuts our grocery bill in half and really shaves time and work off meals when done right.
#2 Hot water heater is set low in summer
#3 Thermostat is on 78 summer , 68 winter
#4 Bought new energy efficient windows which shaves $40-$60 monthly
#5 Fill propane when the cost is lower in the spring or fall
#6 Use a clothesline. This makes for good talk time with the kids and actually becomes enjoyable while saving quite a bit.

[Schadenfreude]

1. Electricity Costs: Keeping the thermostat at 80 degrees, even when it's over 100 outside. Ceiling fans in every room, ice cold lemonade in the fridge. CFL's in every room. Yes, they take a bit longer to "heat up", but so worth it. Also, I'm completely militant about turning everything off in empty rooms. Power strips, chargers, everything. The other utilities are fixed (yes, even water...which is lucky for now as I have a pool and a new lawn).

2. No more bottled water at all. Tap is perfectly safe, and my fridge has a built in filter if people are finnicky about the taste. Not only is this cheaper, but the enviornmental impact behind the convenience of bottled water is horrible.

3. Dumping all spare money into home equity loan. Just $100 more a month will cut 5 years and over $8000 off the 15 year loan.

4. Freebies I register for almost anything and leave a selection out when we have guests, and packing for trips is lighter (we're gone a lot on the weekends).

5. Cut back on pay channels and opted for Netflix to catch up on all the neat shows. Also, we only see about 3 movies in the theatres...only ones that NEED to be seen on the big screen to get the full effect.

[Kate Ann]

I prepare mostly.

It's ironic how, now that I actually make more money...I spend less.

1). I buy stuff in bulk when it's cheaper (love the Costco coupons)...toothpaste, frozen food, butter etc. It doesn't take much room to store 4 or 5 tubes of toothpaste, and saves a fair amount of money.

2). I wait for the movies I want to see to hit the $1 movie theater, and then I go out to see them. I still get a night out, and it's even cheaper than renting a flick and watching it at home.

3). I make food on the weekend (Sunday night) to take to work for breakfast and lunch during the week. Things like chicken salad, scrambled eggs, the big bags of salad and so on.

4). I pay cash for gas at the cheaper station, and have started keeping cash on me for things like coffee. When I have to put cash on the counter instead of a card (debit or credit) I'm much less likely to separate with it for silly things like extra shots or vanilla flavoring etc.

5). I came here to learn from you wise folks.

[davlat]

saving grad...

1. No drink from fast food.... if I want, I bought it from somewhere else... Take out is the best.... Keep in fridge if you didn't eat it all...

2. Shopping is not recreation... Shopping is job.. I am always careful not to follow superficial necessaries.. Ask plastic sack (instead of paper) at grocery and reuse it for trash bin.... Never need to buy plastic sack...

3. I don't have car, mobile phone and cable TV... most students don't need those... You can also avoid phone line.. if your job doesn't need it...(you will find out that you can also save time a lot) Just have good internet speed connection... UTube, Skype,...etc.. you will save a lot

4. No balance on credit card... Use cash back... (never be tempted by reward gift cards which could lead extra spending).. Those are free money... But never use cash advance.. you are killing yourself..

5. Pay credit card balance online.. (no check.. no late problem).. directly from saving account (Note.. max. 6 withdrawals is allowed) ... just 5-10 days before due date.... $1000 in 5.36 APY (Amtrustdirect) per day is 14.67 cents.... "a penny saved is a penny earned"... If you get intro 0% purchase, pay min.. save the rest in saving account... until final due with interest..
If you use $1000 a month... (assume that you use linearly distributed through out the month... means $33.33 per day approx.) and pay back online after 10 to 15 days (20 days grace period)... you get about extra $4 in saving bank (5.36 APY)... + at least $10 cash back...

Extra.. Do not let your kids have a pet... Buy other stuffs regardless of expansiveness... believe me..