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.
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'.
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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.
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.
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.
"A penny saved is a penny earned," said Benjamin Franklin. However, what good is a penny saved if it's spent on something else?
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.
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.
Money saving tips and strategies for saving money in the new year from the ThriftyFun community. Feel free to post your ideas!
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.
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.
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.
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.
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.
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?
Have everyone in the family put all their quarters, dimes, nickels, pennies into a "bank" on a regular basis. (daily, or weekly).
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.
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!
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.
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.
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.
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!
Here are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community.
Strategies to help people save money. Post your ideas.
I am a terrible saver. Just the other day, at the drive through, I realized just how much lunch was costing me each day. So I made a plan - I will go to the bank each Monday and get 5 $5 bills and put them in a special envelope. Then I go to the grocery store and buy some healthy food (deli turkey, fruit etc.) I take this to work and for each day that I don't eat fast-food I reward myself with $5 (which is a good estimate of what it was costing me to eat out.) I take one of the $5 bills out of the envelope and take it home and put in my "piggy bank."
If there are days that I have to buy lunch, any change left from one of the 5's goes into my piggy bank. Imagine - this small savings adds up - as much as $1300 a year and I'm not missing it. I am also eating healthy at the same time! It's a lot of fun to watch the money add up!
By Robin McDonald
Just this afternoon at the grocery store I almost bought a bakery package of 6 cinnamon rolls for $2.79. But then I noticed the refigerator cinnamon rolls (in the packages like Pillsbury biscuits) were on sale for $1.66 each. So for $3.32 I bought two packages which will make 16 cinnamon rolls.
And that's because I was being lazy! Usually I buy cake mix on sale for $1 a box or less and bake 24 cupcakes (no frosting) which are good with a cup of tea for a snack, or I bake 5-6 dozen cake mix cookies.
This saves us at least $4-$9 weekly for cheap-to-on-sale store-bought cookies. Well, maybe I am lazy! But even I can't figure out how to bake 5 dozen cookies for about $1.20 (including oil and eggs) totally from scratch. And when you count in the time saved using the mix, then it's definitely a deal.
By making my husband's lunch every day and baking instead of buying snacks from the store, I save more than $35 a week than if he bought lunch and we bought snacks. We don't put that money in the bank though. When we figure out how to change our lifestyle so we spend less, we choose to work less so we can have more time rather than more money.
Money saving can really be part of creating a richer life.
The best way of learning to save money has been to do this.
I am a teacher and get paid once a month. When my check arrives, in my checkbook, I subtract the amount I want to save that month, say $300. On the back page of my check register I list how much I "subtracted" so that I can keep up with how much I save each month.
For that month, I try to get by without adding the $300 back in. It's there should I have an emergency but I do my BEST not to touch it.
I know this sounds so simple you might not try it, but believe me! IT WORKS! I was so surprised at how fast I saved money and how it really did not put a strain on my spending, if it's not showing in "my" balance, then I didn't spend it!
It certainly was a good feeling to simply "add" $800 "back" to my account to pay for this laptop that I bought with 6 months no interest/no finance charge! It almost felt like a free computer!
If you do not make long distance phone calls, ask your phone company to remove the long distance service from your phone. I rarely, if ever, make long distance phone calls & one day I looked at my phone bill & noticed I was being charged around $7 a month just to have long distance service on my line. Now I am saving $84 a year. If I need to make a long distance call, I use phone cards. The cheapest place to buy phone cards is at Sam's Club & you can add minutes on the cards. Last time I checked, I think their phone cards equal 3 cents/minute.
This tip is certainly not original with me, but I have claimed it as my "own" ever since I realized how incredible the results are!
We began by saving every bit of our change and rolling in paper wrappers. We made it a habit to bank each week's coin savings in our savings account without fail once a week. On average, that turned out to be between $10 and $12.50 a week. At the end of six months, we had added another $292.55 to our account just in coins.
After several months of seeing how much more was added to our savings account beyond our regular savings amount, we then ventured up to saving all the $1 bills that came our way. Before we even began, we promised each other we would NEVER spend a dollar bill but rather each night put the ones in a zippered bank bag we had. It bowled us over to realize that on average we were banking between $20 and $25 at end's week just in one dollar bills. At the end of six months, we had added ANOTHER $572 to the savings account.
Between the coins and the $1 bills, we added an additional $864.55 to our account and it was really painless! We've never missed those coins or $1 bills, and it is a joy to have "lightened up" our wallets.
In a few weeks my fiance and I will be moving to Des Moines to start living in the "real world". He is graduating from college and I will be continuing my education in the area. Since this will obviously be our first time out on our own, I am in desperate need of some tips!
How do you save money when you find things to buy?
By Megan from Thornton, CO
I would like to know how do I go about saving money for the future?
By Machelle Smith from GA