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How to save money?

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  • #46
    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.

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    • #47
      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.

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      • #48
        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!

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        • #49
          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)

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          • #50
            Wow, what an open question. Here's an open answer. Spend less than you earn.

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            • #51
              Firstly clear off any debts you have then start savings according to your income

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              • #52
                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.

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                • #53
                  Pay off any outstanding debt, spend less than you earn and never pay full price for ANYTHING!

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                  • #54
                    4 ways to save money

                    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.
                    Last edited by jeffrey; 11-05-2011, 06:57 AM. Reason: forum rules

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                    • #55
                      Try to minimize spending it on fast foods

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                      • #56
                        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

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