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I just talked to a friend who was complaining that she has to come up with $1000 every October and she has nothing saved up. I asked her if she could save $19.25 on a weekly basis. She said she could, if she cut out her morning coffee and took her own to work, and if she also skipped eating lunch out one day a week. I told her if she did that each week for a year, she would have her $1000. Actually if she put it in the bank, she would have a little more with interest. So, tomorrow she is going to schedule $19.25 to come directly out of each paycheck and go to her Credit Union Account.
That's a good reminder that we all need, to save small amounts toward big bills. I do it on a monthly basis for bills that are due every 3 or 6 months like the newspaper, house insurance, etc. I divide the yearly totals of each by 12, and put that amount aside every month to save. When the bigger bills finally come, the money is there to transfer back to checking, and if there were a true emergency where we had to have the money, it would still be there.
Now if I could just make myself go make a list of all the household appliances that wear out every 10 years or so, and put THAT money aside. Can't afford to put that much aside in reality, but I can work on one or two. I've found that if the money is in my checking account, it's GONE, but if I don't have it there, I can do without a lot of 'wants' that I would otherwise have thought were 'needs'.
We balance our checking account online and have our savings account linked to it so when we log on, both accounts pop up. Our bank allows you to transfer from checking to savings an unlimited number of times (from savings to checking has a monthly limit). So once you make your deposits, get online and move some over to savings before you have a chance to spend it.
We also have the option of setting up an automatic transfer to occur on a certain day of the month, or once a week, or whatever. This way, if payday is the 15th and 30th, you can have an auto transfer of some set amount a few days later. Doesn't sting at all!
We no longer do it this way as my employer started doing direct deposit and allows us to have pay deposited into 2 accts. I have the 1st $400 go straight to checking and whatever is left goes to savings. That way I never wonder exactly what I will get paid. I always get paid $400. I forget all about the extra and it adds up fast.
Want to go on vacation? Want to have money to spend on Black Friday?
While watching the Disney Parade (Christmas 2013), mom and I saw the cruises they offer and I decided to do some research. I found a destination that mom and I would enjoy and was trying to figure a way for me (myself only) to save for this trip. Hard for me to save money with current bills. Mom and I plan to go on this trip in 2-3 years. I needed to save and save quickly.
Last Christmas, as part of my Christmas gift, my mom gave me the Money Challenge. The challenge is: Week 1 save $1 and put it away, Week 2 save $2 and put it away, etc through Week 52, save $52. I looked and thought about this and realized that the higher the weeks were, the more that would be coming out of my paycheck (like October, November and December) and I wouldnt be able to do it those months. I did the math and it comes to $115 a month, if you took the total of doing it weekly ($1,378). Therefore, about $28.75 a week. Much more manageable for me. But since I get paid once a month, I just save $115.
Then I took it 4 steps further to save money.
I plan to keep up these plans for many years to come and will make adjustments to point #2 as prices go up. But I plan to stick to living off 2013 salary for as long as I can.
Also, don't blow your tax refund if you don't have to. I personally use tax refunds for car insurance, license sticker, etc. I spend a certain amount on myself and I save the rest.
I now go through life with the "Do I need it?" attitude and it helps tremendously! I don't even stop and buy $5 movies anymore because I know Black Friday will have a better choice range!
My husband and I have never had a lot of money. Our whole married lives, we have had to watch and constantly be careful. We were married and started our family very young, and neither of us has a college education.
I decided to write another post to help others out since my first post was a success. I want to share my opinion on stuff that works for me.
With each task I perform during the course of a day, I think of ways that I can save. Small amounts saved each day add up to large savings at the end of the year.
I encouraged a friend to start a savings account. She had no savings and had to charge emergencies when they came up. She said she did not have money to start a savings account with and could not afford to add to it if she did. I told her to save her pennies and put them in a clean empty plastic milk jug.
One instant budget breaker is impulse buying. Stores create displays that are so enticing it's hard to resist wandering over to them and buying something that is most definitely not on the shopping list. Spontaneous shopping is seldom a good choice.
Money saving tips and strategies for saving money in the new year from the ThriftyFun community. Feel free to post your ideas!
I belong to a weekly creative writing class that costs $9 each week for the class. We are now on two weeks break from the class, so that is $18 that I save for that time.
"A penny saved is a penny earned," said Benjamin Franklin. However, what good is a penny saved if it's spent on something else? Think of it like this: if you purchase a pair of pants on sale for $6 off the ticket price, where does the $6 go?
When I enter an amount taken from my checking account either by check or debit card I always enter the correct amount in the ledger but I round up the amount I deduct from the checking account.
Sometimes it gets a little tight waiting for payday, so I go into the money stashes I have to ease things just a bit. The stashes include my piggy bank (I do have one), and other coin receptacles.
Saving Your Raise. Saving money is not easy, but years ago I learned an invaluable lesson.
Reduce chaos in order to save money. Live like a natural disaster is coming. Make life simpler in order to de-clutter the mind and the living environment. Many people enjoy primitive camping and leave the luxuries of home.
When visiting a mall, there is one thing that makes me want to spend, spend, spend! That is the sight of another shopper with lots of lovely designer store bags in her arms.
Doing your homework can save a lot of money. Yes, studying hard in school could land you a job that drives home in a sports car, but it's an easier type of homework that saves money right now.
The irony of saving is that it is more important now than ever, yet it's harder to save today than it was a few years ago. What's the method of savings some extra money without cutting back on the things that you love?
I was reading an article about the retail business I thought I could pass around. If you are in the market for some of the "big ticket stuff", try this when you go shopping. I read where these businesses are so hard up for a sale, you can get at least 10% off a purchase.
Saving Money at Kroegers on Gas Tip. You can save 10 cents per gallon on gas at Kroger fuel centers when you are a Kroger Plus shopper, apply in the store for a Kroger card. It's not a credit card! It is like a coupon card, there are absolutely no fees ...
Right now we are living on one income as I am unemployed. We are a family of 5: me (41), hubby (38), son (16 no permit), daughter (14), and son (11). It isn't easy but we have made a strict budget and are sticking to it!
Have everyone in the family put all their quarters, dimes, nickels, pennies into a "bank" on a regular basis. (daily, or weekly).
The first thing I do now is look at the fliers for the week and plan my menu around the sales. I give myself one hour a week to do this. No need to make it complicated by spending hours at it. Also I have started a stock pile.
Some time ago, we needed some cable to connect a computer to the router and it seemed quite expensive in the store. I checked online and finally bought some for about half what the stores wanted for name brand cable.
Saving money is easy! Try some of these tips and you'll see how much difference it makes to the budget. I only shop now once a month and we go without nothing.
When shopping, I get the total, write the clerk check and then offer the coupons. The cashier then gives me cashback after deducting the coupons which in turn goes to a saving account for special projects.
Have everyone in the family join in. You must use "survival skills". Make due with what you have on hand. Be creative in being thrifty. You may want to start with two weeks and see how it goes. Make a game of it!
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Strategies to help people save money. Post your ideas.
There are a couple of ways to look at this. You can either bank what your raise is (or even in addition to this idea). I have always been a very poor saver. (Right now I am disabled so haven't been able to do this and miss it terribly.) While I was working and single it was a struggle for me to ever have anything extra. I even worked for a bank! Well, I got paid every 2 weeks. I would always save at least $7 and some odd cents at least every paycheck...if I had a windfall or felt better off that paycheck I would deposit more to my special savings account that I had started. ( A brand new one.) I did this because I intended to never touch that account no matter how tight it got some weeks unless there was some dire emergency. Well, I lucked out and that dire emergency never happened...or even if things got a bit tight, I still left the account alone. The account was drawing the big 1% interest, lol. A couple of different times I needed small loans. So, I had my savings account secured as collateral and they did the loan for 2% over the savings account interest rate. One time I needed $700 for example, so my loan interest was like a big $10..so I repaid like $710. I thought that was great!! I was newly divorced and needed to build a credit rating anyway, and got my money by having a secured loan. Finally after 2 years I moved out of state....that nest egg that I had saved (over $1,500) became the down payment on the trailer we moved into!! When I get my social security disability approved you can bet I will go back to this methodology of saving. Also, I used to buy the 2 dollar bills when they came in the bank and they added up slowly...well over $1,300. It's had to be used for repairs, etc since my husband is the only one working. I also will start saving the 2 dollar bills again ASAP. Get you a nice hiding spot, like a locked sentry box, and put them in there. Good luck every one.
Ideas for saving money on milk. Post your ideas!
Before the price increase on gas and food, I did not really pay attention to the amount of food wasted on a daily basis in my household. Many families encourage their children to drink milk at dinner even when they do not like it. Simply do not serve the milk if it is not wanted, serve water or juice instead. Also, make the servings of milk smaller. I have used this method an no longer do I have half full glasses of milk on the table when dinner is over.