Best ways to save money??

[TashaSW]

Best ways to save money??

Do NOT say "Don't spent it" cause that never works lol
Especially when your grocery store is localed IN the mall lol Maybe I should start shopping at the other one which isn't in a mall :) (I just shop at the one closest to my house, the 2nd one is about 15 mins further down that street!)

Im just curious what ways works best for you when it comes to spending money? Especially when you have something big to save up for?

I wanted to open a second savings acct where I'll only be able to put money in but not take out till I reached my goal. But is that the only way or is there other ways too? :) Looking for different ways to save :)

So tell me your secrets to save! I may want to "borrow" your ideas! :)

Tasha

[Domino]

OK I am very good with money, without being a total tight arse and having to miss out on stuff.

Firstly I never like to pay full price for more expensive items, I always do my research look around and bargain the sales assistants down to a lower price.
For example I got my fridge that was $1500 I paid $900.


Wait for sales if you can, if I need something I always know it will go on sale eventually, so I wait.

I do this with everything clothing, food, electricals ext...

I find if the money is in my purse then I spend it, so I allow myself spending money but if it runs out, then that's it.

Get a bank accout where you can get interest from regular deposits, don't get a key card with it so you can't access your savings.

Also when grocery shopping don't be opposed to buying generic brands, I dont get everything but there are some itmes that are just as good and half the price.

buy meat in bulk

I spend a fair bit of time when I am grocery shopping looking at specials.



These are just off the top of my head. My family always get me if they need to buy something big because as my mum says " I always get the best price" :bigrin: You should be able to save, just from saving yorself money on everyday things.

[Solomon]

sorry, but saving money doesn't work, without a plan to use it to make money.

having said that, put 10% back. you won't miss it, and it collects very fast.

When i told a business acquatance (who makes six figures without having to lift a finger every year) that i was planning on saving 10% next month, he looked at me and told me "no, you'll do it now".

of course flex and i were looking at a plan (an extremely successful one for some people) to make money.

[Solomon]

OK I am very good with money, without being a total tight arse and having to miss out on stuff.

Firstly I never like to pay full price for more expensive items, I always do my research look around and bargain the sales assistants down to a lower price.
For example I got my fridge that was $1500 I paid $900.


Wait for sales if you can, if I need something I always know it will go on sale eventually, so I wait.

I do this with everything clothing, food, electricals ext...

I find if the money is in my purse then I spend it, so I allow myself spending money but if it runs out, then that's it.

Get a bank accout where you can get interest from regular deposits, don't get a key card with it so you can't access your savings.

Also when grocery shopping don't be opposed to buying generic brands, I dont get everything but there are some itmes that are just as good and half the price.

buy meat in bulk

I spend a fair bit of time when I am grocery shopping looking at specials.



These are just off the top of my head. My family always get me if they need to buy something big because as my mum says " I always get the best price" :bigrin:

i think that's excellent advice too.

tight wads have wads lol

i just always look at where i'd be three months from now without my job through saving money vs. putting the dollars into vehicles to make money

[darkeyes]

Save money??? 2 many shops, 2 many sexy outfits out ther,an undies, an shoes, an boots, an smelly stuff, an jewellery... an stuff.. an not nearly enuff 2 spend! 2 many days left in me life an 2 many nites out yet 2 b had!Wot chance 2 save? Ne nice suga mummy or daddy out ther??? :tong: :bigrin:

[flexuality]

To heck with saving...I wanna make more! If my income doesn't go far enough, then I don't have enough income. :tong: :rolleyes:

[TashaSW]

Domino-- I enjoyed your advice thanks :) I agree with sales... I bought this 59.99 top from CLEOS last year... THEN months later they were having a end of season sale, I saw the SAME TOP in the "sales rack" for 29.99!!!!!!!!!!!!!!!! *cries*

I try to just shop at winners for home stuff and clothing. Winners is kinda like Walmart. discounted prices on nice stuff.
Groceries, its easy since Im the only one in my house so I just buy what I know I'll eat but don't listen to that... theres stuff I bought still waiting to be eaten, at least its stuff that has a long shelf life so in a way I always have something to eat and just have to buy cold stuff :)

I know at Winners you can get a even smaller discount IF you see a item you want BUT its sightly damaged, if you point it out, they are willing to lower the price just so you'll buy it. since sometimes you don't mind a LITTLE damage on things or you can clean it/fix it.

Tasha

[TorontoGuy2007]

ask your bank to give you an increase in your line of credit! hehe..

but i can sympathize. i've been out of work for almost 3 months now.. i've learned to watch every penny. the little things can make a difference. by a no-name brand at the grocery store instead of the popular brand. watch for specials. but food in bulk, etc..

i've also cut out unnecessary casual spending.. no $3 coffees from starbucks anymore.. no newspapers or magazine purchases (get my news thru tv or online instead)

luxury items are out the window (much fewer trips to concerts, sporting events, etc.. )

[Michael623]

Make a budget and include a savings amount. Most importantly, stick to it.

[NorthBiEast]

For a few weeks, write down where every penny goes. If you buy gas, track it. If you impulse purchase a soda, track it. If you pay your mortgage, track it.
At the end of a few weeks, see how much money you spent on stuff you didn't realize. (I was spending twice as much at the pump as I'd budgeted for!!)

Then, change habits if you want, or just change them for a day. For example, If you buy a lot of coffee, brew it at home rather than buying it, and you'll save yourself $10 a week. Put that $10 straight into your "special" account and you'll never even miss it.

The other thing I do is have the bank automatically transfer $5 a week from one account into my "untouchable" account. I don't even have to worry about it, it just goes, and I don't even notice.

Good Luck :)

PS, if you don't mind me asking, are you saving for something in particular?

[Domino]

PS, if you don't mind me asking, are you saving for something in particular?


I bet it's a top of the range Viberator ;)

[DiamondDog]

open up a savings account and put money in but don't withdrawl it AT ALL.

Unless it's an emergency like you just lost your job and you have to pay rent/bills.

Also, buy whatever you can used unless it's something you wouldn't want to buy used.

[TashaSW]

For a few weeks, write down where every penny goes. If you buy gas, track it. If you impulse purchase a soda, track it. If you pay your mortgage, track it.
At the end of a few weeks, see how much money you spent on stuff you didn't realize. (I was spending twice as much at the pump as I'd budgeted for!!)

Then, change habits if you want, or just change them for a day. For example, If you buy a lot of coffee, brew it at home rather than buying it, and you'll save yourself $10 a week. Put that $10 straight into your "special" account and you'll never even miss it.

The other thing I do is have the bank automatically transfer $5 a week from one account into my "untouchable" account. I don't even have to worry about it, it just goes, and I don't even notice.

Good Luck :)

PS, if you don't mind me asking, are you saving for something in particular?


I like the idea about auto trasfer a small amount every week :) Would work lol
Im gonna ask about that. Thanks Northbieast :)

I want to move from this place.... But I need to work on my savings first :) I hate living in this town. So Im saving.... making a nice savings acct to try to also "earn back" the money my ex stole from me. (10 thousand that Grandpa gave me when he died)
THEN gonna use that 10 thousand for something worth it and special lol

[TashaSW]

I bet it's a top of the range Viberator ;)

Nope.

[NakedBike]

TashaSW-saving money is something like being on a diet. When your "dieting" its important to establish a specific goal. IE-I want to loose 1 lb every week so than in 20 weeks I will be 20 lbs lighter. Sometime during those 20 weeks you'll be compelled to go out to a restaurant with friends and have a good meal. That week is going to be a set-back unless you work twice as hard the week prior and loose 2 lbs. It can be done but not to often and actually should be done so that you do not feel constantly in a wanting state. It may be necessary to add 3 extra weeks to plan in order to reach the goal and still have a bit of a life in the interum.

Money saving needs the same specific goal. So if you want to save $10,000 you need to decide how long the time frame is and see if that is a realistic goal first. Once you establish a time frame that is realistic say 2 years-than you know you must put aside approximately $100 per week. The investment vehicle should be set for a 2 year time frame-thus giving you the benefit of a longer term interest accrual (sp?). You can also assume that during that 2 year time frame sh*t happens and that the $100 may not be found as needed. As soon as you are able you need to make the shortfall up or your goal will not be reached. Like weighing yourself on a scale you need to go look at your account and appreciate its growth. Interest is sort of like working out hard one week and loosing an extra 1/4 lb.
As far as shopping in the MEGA store-you need to go in do your business -buy food and LEAVE! Think about your saving account the entire time you enter that bastion of bling and tell yourself if I stay too long its like going out to dinner and eating a 6 lb. steak.
You may want to look at Mutual funds that are "safer" that may have a bond/interest type account. Pure stock funds carry too much risk unless you are interested in a plan of 5+ years. Even before you choose a vehicle do a quick fix and put $100 in today in a separate saving account. Don't procrastinate.

[arana]

Ummm could you save for me too then cuz I'm the ultimate worse in saving. Even when I save it, it dissapears lol.

[darkeyes]

Go through it like water huh Rana...well cant take it wiv ya babe an mite as well get benefit wen yas still breathin! :bigrin:

[Solomon]

so much for the saving theory huh? lol :bigrin:

[darkeyes]

How can me look yummie an save Sol? :rolleyes:

[Solomon]

ya can't... the 10% rule does work.... if you have goals to apply it, but it's not a self deprivation rule lol. :cool:

[Domino]

There is some fantastic advice here Tasha. Use it.

I by far am not a tight wad, I truly believe we make money to enjoy, so why not make it go further.

If I am looking for accomodation on holidays, I will always talk the receptionist down, as far as I am concerend it is better in my pocket, than theirs. Recently my sister and I were looking for a night to stay in a resort I went to one of the most expensive ones which was advertised as $175pn I got it for $135pn. What I do is go in there with a price in mind and put it to them, otherwise I go elsewhere.


I still have my weaknessness tho, I am very girly and can't stop at a make up, perfume, hanbag, shoes or clothing sale but it's all good.

[Tommy2020]

My wife taught me that when in the grocery store, look NOT at those items at eye level, but below eye level. Seems that all, and I mean all of the more expensive items are at eye level. Cutting down on driving helps also. The cost of gasoline is ridiculous. (Before I get flamed, I know about demand and supply) When a petroleum company CEO can take 49 mill with him when he retires... that seems a bit :( much. As mentioned B4, research your needed items for pricing and yeah, no more Starbuck's for awhile. I think just being careful with your spending and avoiding the impulse buying is really the way to go. I don't care what Bushie says, our economy isn't as strong as you would think right now.
Tommy2020

[joxbear69]

what has worked best for me and my wife is as follows:
1.figure out your routine (must have, not what you "want") monthly expenses vs. income.
2.from the difference, we use the "coffee can savings plan"--set up separate coffee cans/jars/plastic containers with labels of things you either want now or want to save for in future ..eg. we have a "Christmas Jar"--save all year long for Christmas shopping so we don't have to put any money on the credit cards, we have a "Travel/trip jar"--so we can go on nice a nice vacation or several long weekend trips, we each have our own "Savings/Fun Money Jar"--we can do whatever the hell we want with this without having to consult the other or justify the expense, etc. Some times we only put $20-50 in each jar each month. It doesn't seem like much, but it really adds up. It works best for us. We get all of our bills paid and still have money for fun!

[flexuality]

I guess it all depends on whether you want to spend the rest of your life just saving here and there, or if you want to take that saved money and put it into something that will generate some residual income so you can stop worrying about saving all the time.

Tracking is essential. Budgeting (as in a month to month plan for what money goes where) is crucial.

The 10% Sol mentioned WORKS. We don't save that for a rainy day though. We put that into things that will increase our capital, so that we can then invest and generate residual income.

I don't mean interest, I mean residual - money that keeps coming in whether I work or not. I do the work once, it keeps making money.

I have it down to a fine art as to finding deals and talking people down in price, but I don't want to spend the rest of my life worrying about money.

Ever notice when it comes to money that the less one has, the more one worries about it?

Just my thoughts....

[Solomon]

TashaSW-saving money is something like being on a diet. When your "dieting" its important to establish a specific goal. IE-I want to loose 1 lb every week so than in 20 weeks I will be 20 lbs lighter. Sometime during those 20 weeks you'll be compelled to go out to a restaurant with friends and have a good meal. That week is going to be a set-back unless you work twice as hard the week prior and loose 2 lbs. It can be done but not to often and actually should be done so that you do not feel constantly in a wanting state. It may be necessary to add 3 extra weeks to plan in order to reach the goal and still have a bit of a life in the interum.

Money saving needs the same specific goal. So if you want to save $10,000 you need to decide how long the time frame is and see if that is a realistic goal first. Once you establish a time frame that is realistic say 2 years-than you know you must put aside approximately $100 per week. The investment vehicle should be set for a 2 year time frame-thus giving you the benefit of a longer term interest accrual (sp?). You can also assume that during that 2 year time frame sh*t happens and that the $100 may not be found as needed. As soon as you are able you need to make the shortfall up or your goal will not be reached. Like weighing yourself on a scale you need to go look at your account and appreciate its growth. Interest is sort of like working out hard one week and loosing an extra 1/4 lb.
As far as shopping in the MEGA store-you need to go in do your business -buy food and LEAVE! Think about your saving account the entire time you enter that bastion of bling and tell yourself if I stay too long its like going out to dinner and eating a 6 lb. steak.
You may want to look at Mutual funds that are "safer" that may have a bond/interest type account. Pure stock funds carry too much risk unless you are interested in a plan of 5+ years. Even before you choose a vehicle do a quick fix and put $100 in today in a separate saving account. Don't procrastinate.


how's this plan workin' for you?

[biwords]

Someone sent me this, it's a bit out of date but cute:

If, you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00.

With Enron, you would have had $16.50 left of the original $1000.00.

With WorldCom, you would have had less than $5.00 left.

If you had purchased $1000 of Delta Air Lines stock you would have $49.00 left.

But, if you had purchased $1,000.00 worth of beer one year ago, drank all the beer, then turned in the cans for the aluminum
recycling REFUND,you would have $214.00.

Based on the above, the best current investment advice is to drink heavily and recycle.

It's called the 401-Keg Plan

[Solomon]

lol, obviously that guy didn't know how to make money on stocks going down.

[TashaSW]

Hey Sol,

I did open a savings account and am auto trasfering about 10.00 every week (then as I make more money, I'll change 10 to a higher amount)... The girl at the bank I talked to said she did the same thing hehe
Works best for her so Im sure it'll work for me as I save :)

Tasha

[Solomon]

That sounds like a great start! Many fortunes :cool: