Post # 1
Hello Hive 🙂
I bought a house in December and FI and I moved in together. As bills have started really racking up, I’ve noticed that while we’re not living paycheck-to-paycheck, money has been SUPER tight.
Back in February, I made the mistake of buying a new (used) car. Even though my old one was beaten down, broken, and needed a million repairs, I probably should have stuck with it. My car payment has gone up significantly.
FI and I have had several talks about saving money, but we’re having a hard time affording bills plus extra savings. I think we’ve decided to cancel our cable, which will save us around $60 a month, but we need to do more.
Does anyone have any good money-saving tips for us?? We really want to ensure that we feel financially stable before we get married!
Post # 3
Get rid of premium tv subscription. Check your phone provider and boardband provider, could you be paying less?
Post # 4
Track all your expenses into categories (Excel is good for this). Then you can better analyze where you are spending your money and assess from there. I have each month on a new tab.
Downgrade phones and plans
Sell some clothes on Tradesy
Don’t buy new clothes/shoes
Food – I used to do price shopping. That means I has a list of all the foods we normally buy (Excel is good for this), and what they normally cost at three of the nearby stores, what is the lowest they have gone on sale for, and when the sale was. That way I can stock up. That usually required some time (which I do not have now).
Learn some good vegetarian meals and make a lot for lunches
Do price costs of your favorite meals – as in how much to buy all the main ingredients, then divide it by the number of servings.
Post # 5
Get rid of cable.
Downgrade phone services.
Don’t use or use less AC in summer, heat in winter.
Limit eating out and drinking at bars.
Get books and movies from the library instead of buying.
Really consider if you need to buy any other purchases (clothes, household stuff, etc.)
Find free events to attend – there are tons in the summer.
Post # 6
This isn’t so much money saving as it is making, but I’ve recently gotten into secret shopping. There are lots of companies out there all around north america that take on shoppers to go to a store/restaurant/car dealership and do some investigative work for them. You do not become a hired employee, just do jobs on a contract basis when you sign up for them. I’ve done a few and made some extra cash here and there.
Post # 7
Stop going to Starbucks.
Have friends over for dinner instead of going out.
Look at food purchases – do you throw away stuff that’s gone bad regularly? See if you can build a system that keeps you from wasting food!
Post # 8
- Wedding: January 2013 - Harbourfront Grand Hall
@MissBatman: Sign up for email notifications from your utility companies, my gas company emailed saying we could get a free energy saving kit, I wasn’t expecting much but ordered it anyway. Holy cow! We got a free low flo shower head, low flo caps for bathroom and kitchen sink, led night lights, and wrap your water heater in insulation.
Also, if you do much outdoor watering I HIGHLY suggest a rain barrel! Our water bill went up a ton in the summer even tho I hardly let DH do any watering of the lawn. LOVE LOVE LOVE our rain barrel!
Also, if you go out share meals 🙂
Post # 9
Oh, also GARAGE SALE!!! Collect all the stuff you don’t want/need (my guy has tons of power tools he never uses). Pay a bit extra to advertise in your local paper and you would be amazed at the amount of people who show up! My parents did that, and they had people parked on the street before they were even ready to start selling!! They made a good chunk of change
Post # 10
It would be easier to give you tips if we knew which of your expenses aren’t fixed. Your mortgage and car payment obviously aren’t going anywhere.
Definitely get rid of your cable. If you want more besides basic TV, then get Netflix instead, which is only $10 a month instead of $60.
The library is a great resource for not just books; they also have CDs and DVDs you can borrow. Much better than buying!
Try reading some books on money management from Dave Ramsey or the Rich Dad, Poor Dad book. From the library, or e-library, of course. 🙂
And yes, unless it’s stifling hot, don’t use AC in the summer, and keep your heat low in the winter (the key is sweaters and blankets!).
Eat out less, drink less.
Try couponing. When combined with sales or double coupon days, you can get a lot of groceries for not too much money. I haven’t been sticking with it super well lately, but I once got all of this for $16.
Consider getting a part time job, if need be.
I use Mint, and it has made me a lot more conscious of where my money is going, and I have been able to save a LOT more every month because of it.
Post # 11
Eat in and take leftovers for lunch more. We are saving tons by doing this. I don’t buy frivilous things anymore or go shopping for the heck of it. We set our thermostats to our power company’s suggestions to be most efficient and have them adjusted properly when we aren’t home. I only do laundry when I have full loads to save on water and power. If you can do a lot of small things, it will add up and you’ll notice the difference. I got my major credit card bill down by $1000 one month just by cutting out the little frivilous stuff. Good luck!
Post # 12
i would put all of your expenses into a spreadsheet (excel is great). you will have a better idea of how much you are spending & where.
take out, restaurants and starbucks are huge culprits on most budgets. they add up fast.
eating in, packing lunches, a coffee travel mug from home, etc saves a lot.
as for groceries. buy things on sale or use coupons. don’t buy what you don’t need. cut back on the junk foods, never shop hungry. making a weekly grocery list and buying only what’s on the list is also helpful.
Post # 13
@honie309: how do they pay you? and how well?
Post # 14
Don’t buy premade/prepackaged foods. Make everything from scratch, it saves a few hundred dollars every month vs eating out.
Post # 15
I found that if you have money in your account, it’s easier to spend it – and to justify spending it. We set up a savings account (free with our bank) that also makes interest. We also can’t use our debit cards to take money out of savings.
Whenever we get a paycheque, we transfer money the same day to the savings account. If you wait until the end of the month to “save” money, you’ll inevitably spend it, but it’s amazing how when you transfer it right away, you don’t even notice that you’re missing $500 or so a month. Adds up fast!
Post # 16
Me and SO are in the same boat and trying to save money. We have cut back on eating out/going out for drinks. I’ve been clipping coupons more and trying not to waste food. We used to almost always buy too much fresh food at the store and we’d end up throwing it away because we couldn’t eat it fast enough. Now we started going to the grocery store twice a week instead of once and we’ve been saving money that way because we don’t over buy- we just get what we need for a few days.