How to save money?

[disneysteve]

Nickels and dimes add up to dollars. Lots of little purchases can add up. A lot of people don't see this and spend a lot of money this way.

While it is true that little leaks can sink big ships, I think sometimes people overemphasize the "latte' factor" and forget about the big things. For most people, their biggest expenses are their home, their car and their education. Clipping coupons is great but if you buy a home that sucks up 50% of your monthly income, saving $.50 on a box of corn flakes isn't going to help much. If you buy a $30,000 brand new car on a 6-year loan, cutting out the morning cup of coffee isn't going to solve your money problems. If you went $100,000 in debt with student loans to get your degree for a job that only pays $40,000/year, buying your spices at the dollar store won't do you much good.

Control the big three - housing, car and education - and everything else will fall into place much easier. Make sure your home doesn't cost you more than 28% of your monthly income. Don't pay more for a car than you can afford to pay off in 3 years maximum. Keep student loans to an amount where the monthly payment will not exceed 10-15% of your monthly income.

Do all of that and keep your general spending within reason and you will find that you have plenty of money for savings.

[Ima saver]

I keep my electric hot water heater turned off unless someone is taking a shower or we are running the dishwasher. My dh puts a turn off switch in every house he builds.

[curtis.lesa]

Here are some practical ways: http://hartfordauto.thehartford.com/...ing-tips.shtml

[btacay]

Effective Banking Structure To Save More Money

I know that often than not, you find it confusing to manage your money effectively and actually be aware of when you are spending more than you should. This often leaves you with less money to do the things you would rather be doing in your life.

One of the biggest problems we all face with saving money these days is that it is always instantly available. When we get paid the money is instantly in our account and it is sometimes difficult to truly value what we have earned because it is so easy to instantly spend!

To counter this, you need to have a banking structure that works against you, rather than for you. Plan to set up your banking so that you cannot access Money at will – Money that would be better left for wealth creation.

[ferriwinkle]

Others will tell you to cut cable and stuff but I love my cable so I say, figure out other ways.

coupon, coupon, coupon. People will say that there are not coupons for what they purchase and that is crap. Everyone uses shampoo, everyone uses cleaners. Use the coupons to your advantage. Don't focus on what you can't buy, focus on what you can save on. For example, shampoo coupons are almost always a minimum of $1 off per bottle. I find coupons all the time for toilet tissue. and there are some for foods that are not bad for you. Sara Lee has coupons for their bread all the time.

shorter showers.

I love my cable too, but I get a lot more for my money from Netflix (unlimited streaming to my television through my Nintendo Wii) and Hulu is free for current tv shows. we cancelled out cable months ago.
I totally agree with couponing--manufacturer coupons in the paper or printable ones from the internet (i print from Inboxdollars and get an extra 10 cents for every coupon I use). Sometimes you can double up on coupons and get the item when it's on sale.

[btacay]

Complete System of Banking To Save Money

In order to save more money, one of the best things that you can do is to take control of your money. To do that, you need to set up different bank accounts for the different spending aspects of your life.

And one of the biggest problems we all face with money these days is that is always instantly available. So, change the access to your accounts to avoid overspending. By doing so, you will be able to save more money.

By following the Save More Money Template, you can implement it easily without having to do any of the thinking for yourself or worry that you've missed anything.

[Sporkman]

Motivation is important as well. Seeing how little savings can grow over time can make you put your wallet back, for example using my savings calculator.

A big suggestion that has helped us is making a shopping list & sticking to it, whereas before we'd just go & buy whatever looked good. As a result, we've reduced our food expenditures significantly.

[Eric80]

Ive found that the best way to save money is through budgeting and making sure that what's coming in is equal or more than what needs to go out. If its not then that is when things can become hard. I also suggest that you live with your means as this (as i have found out for myself) is the fundamental key.

[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]

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.