best advice to save money?

[LeggsRobbins]

Re: best advice to save money?

I read that 35% of your energy cost comes from hot water usage. Keep your hot water heater turned off at all times and just turn it on 20 minutes before you need it. (for showers or dishwasher) Also, don't use a heat pump for heat!

Have you tried this? Does it really work?

[Ima saver]

Re: best advice to save money?

Oh yes, I have been doing it for almost 30 years. I use to go out in the garage and turn the circuit breaker to the hot water heater on, 20 minutes before taking a shower and then turn it off.
My husband is a builder and he now puts a switch in every house (including ours) All I have to do now is turn that switch on and off in the kitchen. I have a huge house plus 4 car garage and I am home all day with all 3 tv's going, and my bill is under $100 a month.

[shelbylovesmelby]

Re: best advice to save money?

I also work on a premis of only having 3 things running @ a time when I'm home. Well I try, but it's hard to do now with kids. But If I was on the pc like I am now that would count as one, the tv 2, and a light as 3. If I need a fan on I'd have to turn something off. Weird but it works out allright.

Change your light bulbs to energy savers (alot of times you can find rebates on them wich make them so cheap they cost you as much as a regular bulb cost) or.... I've got very small bedrooms & we only have 1-2 lighbulbs in each ceiling fan because that's all we need & putting in the full 3-4 makes it just TOOO bright in those rooms.

Buy things you NEED and only on sale / clearence & or generic.

Coast when you are driving down hills or when you can see you will be comming to a stop to save some gas.

Get an automatic deduction out of your pay check to your savings account or have your bank do an auto funds transfer every month to savings even if it's just $5 it'll add up.

If you have a loan make payments every time you get paid. Most loans are based on simple inerest (they accumulate interest every day, for the duration of the loan) so if you paid half 2 weeks prior to it's due date you'd save on interest and pay off your loan sooner as well.

Credit cards -- pay them off! Call & ask them for a lower rate. Or find a credit card with a low fixed rate.

***
ima saver -- that's a great idea! knowing my luck I'd forget I turned it off & be calling dh in a panic that the heater was "broken" Now if I had a switch for it in the kitchen that would be awsome.

[acezz4e_tish]

Re: best advice to save money?

cars are a big expense! checking air in tires is essential. couple pounds could use up i hear 2% or more in fuel. the proper amount is posted inside your door panels. i get money on a card at walmart. i also check gasbuddy.com its always murphys tho. all the stations today showing 2.11 a gallon, using my walmart card saves additional 3 cents, for 2.08 a gallon. i parked by the gas station and walked into walmart, which is a baby step in betting my own health. oil changes, spark plugs, air filter, all that maintenence will also better your vehichle and gas usage. which dave and my dad do at home. however, if your not so inclined to do this at home urself, check with neighbors to barter something. you buy the stuff and offer them a home cooked meal in exchange, or something to your imagination on what you have to offer, maybe a single dad needs something you saved from your child, that would be a major expense to buy new, something. bartering is my best tool. they didnt always have money, everyone use to use a barter system. maybe a couple down the road need to go out, trade babysitting for car maintenence. im sure you could come up with whatever the need is to take care of yours. dave and another dave down the road, often help each other looking at cars. we borrow thier wheelbarrow, all the kids chip in and rake, and they borrow our weed wacker. its a benifit to everyone.

[Ima saver]

Re: best advice to save money?

Believe me the hot water thing really works. Why should it run all day when you only use it for an hour or two a day.

I have canisters that I put pictures on. These are my "goal" canisters. For example, one has a picture of the mountain view from the property I bought last year. (that has a mortgage on it) Another has a picture of my red corvette that I make payments on.
Every day, I put $1 bill in the canisters. Then I make a game out of it. I walk on my treadmill and pay myself $1 for every mile I walk. If I stay home that day, I save gas, so I pay myself a dollar. I have a game I like, and if I score over 400 points, I pay myself a dollar. That goes into the canister, plus anything else I can think of.
If I skip going out to eat, I pay myself $20.
Every few weeks I put the canister money in the bank to earn interest. I have my savings account divided into sections in a notebook I keep. I have a section for emergency money, vacation, pay off car, The Ridge at owltown (that is the lot) Christmas, medical, etc.

Also, to save on gas money, drive slower!

[locolorenzo24]

Re: best advice to save money?

Eat out less....
Entertain at home more often....
When you're not in a room, turn off the lights!

All from me......

[Ima saver]

Re: best advice to save money?

We drink a lot of water. I like water and my husband takes a big jug of it every day in his cooler. Our water is "city" and does not taste good. About 10 years ago, I bought a big machine that distills and purifies our water. I run it several times a week, so we never have to pay for bottled water. I keep about 10 big jugs on hand all the time. It has saved me money!!

[contrary1]

Re: best advice to save money?

All these tips are great, but I think the thing that helps me most is being around others that are savers too. This list, for example, keeps me focused on what I consider important. Fortunately, most everyone I am in contact with in my daily life is of like mind, so I'm not having to swim upstream all the time!

Having a support system is always good, and it feels like this list is giving me an army of "personal trainers" re; my finances! What a gift!!

[Ima saver]

Re: best advice to save money?

You know contrary, you are right, it is nice being around savers. I live in a small town and we have a local forum. Most of the others on the forum think I have had all kinds of advantages because I live in such a nice house and drive nice cars. Actually I was brought up very poor and learned to save my money at an early age.
It is nice to be able to say something on this forum without being jumped on, like I am on the local forum. I guess they think I inherited a lot of money or something, but it has been just a lot of plain old hard work.

[acezz4e_tish]

Re: best advice to save money?

i also had read online i believe at about.com about coffee, that a lil salt and cinnamon make coffee taste better, and using room temp water also takes a bitter or burnt taste out.

[Ima saver]

Re: best advice to save money?

We buy some of our building materials, carpet, cabinets, etc. in another state and do not have to pay sales tax on it.

[coffeebreak]

Re: best advice to save money?

Here are a few:

Switch to compact flourescent bulbs

Raise the deductible on your insurance; put the savings in a savings account to cover the deductible when needed

Keep the heat turned down and wear heavier clothes

Change your long distance plan so that you pay a little more per call but nothing per month (or very little)

When you are going food shopping, lump it together with buying something else at a store nearby

Go to gasbuddy.com and check gas prices then buy gas when you are doing something in the area where the price is low. You can save 10-15 cents per gallon this way

Choose your times to go out so you avoid traffic; saves gas

Join a club like Costco then buy in bulk. Get a 9-roll of paper towels instead of just one or three

Quite often there are generics of OTC meds, vitamins, etc. that are exactly the same product but cheaper

List your credit cards in order by annual percentage rate then cut the top ones in half and toss them

And finally,
Start a savings account with Emigrant Direct (et al) and have $50/month withdrawn from your bank. The $50 you saved by doing the above.

[BCHGRL]

Re: best advice to save money?

Having a mini-refridgerator and microwave in my office allows me to bring in my lunch every day. I have a replacement theory. Only eat out on special occassions.

At this point, I have everything I need, anything I purchase is only on replacement basis. If I'm adoring some black shoes I have to ask myself two questions:
a) do I already own black shoes
b) if yes, are the shoes in perfectly wearable condition?
I have to be honest. If I have black shoes in perfectly fine condition, I do not need to replace those. If they are red shoes and I don't own any red shoes, I seriously consider whether red shoes will be worth their value (cost divided by times I will wear them).

Have someone in your family that is not thrifty? My mom always buys books so I read hers instead of buying new. She is my size so we trade clothes. Somehows I always benefit from her expensive taste.

Spend money on long-term items and go cheap on disposable items. Buy cards, laundry detergent, etc. from the dollar store, but buy work clothes from outlet stores. Dress classy, not trendy, and you're clothes won't go out of style quickly. (Dress like Jennifer Aniston, not Jessica Simpson).

Replace one regular meal with Ramen Noodles.

Find your own spirituality and well-being. If you are truly at peace with your life, then you don't care about the Jones', do you?

[Ima saver]

Re: best advice to save money?

I read about you all using coupons so I looked thru some of this week's newspapers. They had lots of coupons for so much off, but in all cases, i don't buy the product. I find it easier to save money but just not buying something unless I really need it.

[Lostsoul33]

Re: best advice to save money?

I put my money into a savings account and if I want to withdraw on it, it takes 2 days before I will have the funds in my hands. This has really helped me to remain focused.