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  #1  
Old 01-22-2009, 03:51 PM
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Savings Tips

Keep your receipts and write down everything you spend. At the end of the month calculate how much money you're spending on different things (groceries, eating out, entertainment, clothes, gas etc.) This is a good way to make you more aware of how you are spending your money. You might realize that you're spending a lot more money in a particular area than you thought because little expenditures are adding up (spending a few bucks on coffee every day doesn't seem like much until you see how the cost adds up over time).
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  #2  
Old 01-22-2009, 04:23 PM
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Default Re: Saving Tips

If you have trouble spending too much money try paying for everything with either cash or a debit card. Don't use credit cards. Using a credit card can often make you oblivious to how much money you are actually spending because the process is so automatic.
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  #3  
Old 01-22-2009, 04:24 PM
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Default Re: Saving Tips

Develop a monthly budget and follow it. It's easier to manage your money if you set precise boundaries for yourself instead of having a vague idea in the back of your head that you need to be careful with you money.
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Old 01-22-2009, 04:25 PM
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Default Re: Saving Tips

Try to have three months worth of living expenses saved up in the bank at all times. If you happen to lose your job or are unable to work for a period of time, this saved up money will prevent you from falling into debt while you are unemployed.
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  #5  
Old 01-22-2009, 04:25 PM
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Don't go shopping just for fun. Arrive at the store with a list of things you actually need and only purchase those items. Chances are, if you didn't realize you needed the item until you saw it, you probably don't really need it. Learn to tell the difference between needs and wants. Be careful of impulse buying. Take time to think about whether you will actually need or even use the item that suddenly looks so appealing.
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  #6  
Old 01-22-2009, 04:25 PM
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Default Re: Saving Tips

Eat out less. Easting out can more than triple the amount of money you spend on food!
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  #7  
Old 01-22-2009, 04:26 PM
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Default Re: Saving Tips

Try buying things used. You can get a lot of great stuff used, anything from cars to clothes.Shopping at a Salvation Army or Goodwill store is a great way to buy second hand clothes. Just dont forget to pass along the favor by donating clothing you no longer wear.
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  #8  
Old 01-26-2009, 06:06 AM
bongobro bongobro is offline
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Cool Re: Saving Tips

Why not check out the bakery "thrift stores" in your area? Most major bakers operate these stores in areas near their local bakeries. They sell bread, snack cakes and other bakery items that are literally one or two days old; while they're not quite as squishy-soft as the fresh bread in your supermarket, you'll save some cold hard cash in the bargain! And besides, day-old bread makes better sandwiches than fresh bread!

Some of these stores also sell potato chips and snack items, but check the prices carefully!
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  #9  
Old 02-06-2009, 04:12 AM
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Default Re: Saving Tips

Make sure you have a savings account and DON'T TOUCH IT! A lot of people borrow from their savings account like it's cash in their wallet. Their intentions are good but they're not helping themselves. Make up your mind that you will never go into your savings account once its started. Let it build and one day you'll have a lot of money sitting there at your disposal.
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  #10  
Old 02-06-2009, 04:14 AM
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Default Re: Saving Tips

You'll save yourself all kinds of money if you can avoid going grocery shopping when you're hungry. People tend to spend more money on junk food and stuff they don't need when they shop hungry.
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  #11  
Old 03-27-2009, 02:08 PM
The Renegade Master The Renegade Master is offline
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Default Re: Saving Tips

With the economy being down, Credit Card companies are looking to raise their revenues and one of the easiest ways is for them to raise the interest rates on their existing customers. However, you have the option to cancel your account if you do not want to accept a higher interest rate. You can close your account and continue on your established payment plan and interest rate until the account is closed.
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  #12  
Old 04-28-2009, 03:33 PM
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Default Re: Saving Tips

When you realize that you want something don’t go out and buy it as soon as you can. Make yourself wait a month or so and then if you find that you still want it you can get it. If you have forgotten about it, then it was probably not necessary or important enough in the first place.
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  #13  
Old 04-28-2009, 03:33 PM
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Default Re: Saving Tips

Watch movies at home instead of in the theatre. Think of it this way…when you go to the theatre you are spending the money on two tickets for two people to see the same movie. If you rent the movie, then you are paying one price for two people to see the same movie. Plus, the fee to rent one movie is generally less then what it costs for one adult ticket at the theatre.
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  #14  
Old 04-28-2009, 03:33 PM
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Default Re: Saving Tips

Try mending your clothing before you get rid of it. If you have a hole in your socks, mend it instead of buying a new pair.
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  #15  
Old 04-28-2009, 03:33 PM
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Default Re: Saving Tips

You don’t need to buy your children all the toys they “want”. Have you ever heard someone say that their child “had more fun with the box then the toy that came in it”? It does not take a lot for a child to be entertained, and they would much prefer your time then your money in the form of toys.
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  #16  
Old 04-28-2009, 03:33 PM
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Default Re: Saving Tips

Make large batches of freezable foods. If you make a huge casserole or pot of soup you can split it into separate containers and eat it on nights that you are very busy instead of buying fast food. All you will have to do it take it out of the freezer and re-heat it – just like you do with expensive pre-packaged microwave dinners.
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  #17  
Old 04-28-2009, 03:34 PM
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Default Re: Saving Tips

Instead of buying that book that is on the best sellers list – check it out from your local library. You can also join a book swap group where you all bring books that you no longer read and swap them for another “new” book you have not read that is in the pile.
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  #18  
Old 04-28-2009, 03:34 PM
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Default Re: Saving Tips

Go green. It really is a great way to save money in the long run. Some things – like solar panels – are expensive up front. But the electricity cost savings will more then pay for it over time.
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  #19  
Old 04-28-2009, 03:34 PM
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Default Re: Saving Tips

Go holiday shopping the day after the holiday. Seriously! Stores put unsold holiday merchandise on sale the day after the holiday so they can get rid of it. Imagine how cheap the decorations will be that you will have for the next year. You can also get cards to send cheaper this way as well.
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  #20  
Old 10-22-2009, 01:19 PM
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Default Re: Saving Tips

One of the best things to do is open up several Certificate of Deposits (CDs) at your bank throughout the year. A CD is similar to a savings account except the interest rate is higher and you invest for a fixed period of time. When the CD matures, whether it is 6 months, a year, or longer, the extra money that comes from the interest can be added to your CD to roll over for another cycle, or taken out. If you have one for each month of the year, it'll be like getting a small paycheck every month.
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