Post # 16
I take cash out every week and use it for groceries and other random purchases. It helps me not spend over what I budgeted. ALSO, I’ve started setting aside 1$ bills and 5$ bills when I get them and putting them into a jar. I’ve saved $700 this year so far!
Post # 17
- Wedding: May 2015 - Walnut Hill Bed & Breakfast
I think the best way is to really look at where your money is going and inspect each catergory. Can you cancel cable? Can you find a cheaper phone plan / interenet? Can you find a cheaper thing to eat for breakfast? For example can you make granola yourself instead of buying prepackaged? That kind of thing. Turn off lights when youre not in rooms. Don’t use extra water. Don’t run the heat/ac all the time. Don’t eat out. etc etc.
Post # 18
I read an interesting piece of advice once, maybe even on the bee, I don’t remember. It was that you shouldnot save what’s left at the end of the month – you should put money in your savings first and then spend what’s left!
Post # 19
So there are lots of ways that we save money! First rule of thumb is get out of and stay out of debt if possible. We have zero debt at all. We do have a secured credit card which we used to build credit and now we keep it just for emergencies. We also budget for everything. I have a set amount of money we can spend for groceries, gas, and then I list all of our bills. Along with such I also list our savings deposit. As soon as we get paid, I pay bills and make our savings deposit along with it just as if it were a bill itself. He works full time and I am a full time student and we save a very good amount every month, about half of his paycheck. It allows for things like vet expenses or trips, etc. We also always make sure to have at least a few thousand in our emergency savings fund which has come in handy for things like car issues and when we had to fly home for a funeral. After we pay bills and do our savings deposit, I fill up the cars with gas and get groceries for the next two weeks until the next paycheck. Then if we have any money leftover that’s our play money. So normally, we go out to eat on weekends or to the movies, etc. I will say that cooking from scratch saves a ton of money! We spend about 70$ a week on groceries and have lovely meals for breakfast lunch and dinner. Then on weekends, we can go out if we desire. But seriously, try to take your lunch to work and that in itself will save a ton! I hope all of this helps! Finances aren’t near as scary and frustrating as they seem 😊
Post # 20
You are so right! That’s what we do. Treat your savings as a bill and pay yourself first. Then play with what’s left! We saved soooo much more this way! At first we were saving what we had left and weren’t saving anything. Now we save a ton!
Post # 21
Make a budget every month, and stick to it!
We cook most of our food/meals, don’t eat out much (we were eating out nearly every day for a few months during a very stressful time in both our jobs, and WOW we’ve saved a lot by getting back on track!)
Have the budgeted part of dedicated savings immediately deposited in to a separate savings account every pay check.
I’ve had a lot of fun seeing how many days I can go without spending a dime, or finding something I’ve thought about buying, have the $ for, and ultimately decide to “buy it for myself later”, meaning I transfer the $ I would have spent on said item from my checking to savings account.
Make sure to budget some fun money so you don’t feel deprived, that’s a huge thing when trying to save, and causes the downfall of many. My splurges are 2 starbucks drinks a week plus tip, weekly massage plus tip, and a set amount for “whatever” money, usually movie/dinner with friends or playing MTG draft a few times a week at the local game store. 🙂
I’d also recommend taking Dave Ramsey’s Financial Peace University online, it’s a 16 week course with 13 lessons on money management, savings, debt reduction, etc. It’s about $120 or so and worth every penny! Really helps you figure out your priorities and align how you spend you money with your values.
Post # 22
Don’t eat out, don’t buy coffee or muffins on the go, etc. Don’t go to the movies, etc. Just don’t spend money unless it’s a necessity. It sucks, but it’s really the best way to save.
Using a cash back credit card on everything is great – but ONLY if you pay it off in full every month. We get about $300+ a year back, just for using it on groceries and gas.
Post # 23
Honestly one of my favorite ways to save money is through Ebates. I’ve bought favors, dresses for parties, etc. through the Ebates webpage and gotten money back in the process. Search your favorite stores for coupons/money back. Here is a sign-up link: http://www.ebates.com/rf.do?referrerid=QmjdyV9pAzv7MxkGC539UQ%3D%3D&eeid=29351
Also, for flowers, try Bouqs.com. If you have someone who could help you assemble centerpieces or you need a large amount of flowers, these are georgous and are mailed right to you!
Good Luck 🙂
Post # 24
I gotta say, I thought I could use some good advice on saving money but after all of your awesome tips I’m starting to realize that me and SO already do most of these things!
Our home insurance is $160 a year, which is great.
We don’t own a car, so that’s a huge money saver right there.
The insurance for our cat is $20 a month.
We never ever buy coffee or muffins etc to go, we both get coffee for free at work or make it ourselves and bring in a tumbler.
We cook everything from scratch, I even bake bread twice a week.
We always bring our own lunch from home. We eat out once or twice a month which I think is reasonable.
I think we have a good thing going on here and you guys proved it to me! Thank you for your awesome advice!
Post # 25
I’m going to assume that you’re living in Canada based on the time you are posting, and the insurance comments, in which case there are a couple specific things I would suggest!
If you live in Canada, I’d look at your cell phone plans. Do you really need what you have? Or can you switch to a lower cost carrier or a cheaper plan? Fiance only has a basic phone for emergencies, and only pays $100 per year (around $8 per month) to run it. If you have a smartphone, you can usually run it without a SIM card and just use wifi. I would also compare cash back credit cards, but also think about other rewards points cards: Scotiabank has one where they give you Scene points for Cineplex odeon. I’ve got it, and I haven’t paid for a first run movie in years. Fiance and I will do that deluxe movie for two date when we are in the city, and we get it all free. It also now works at sport chek (free ski passes, clothes and sports equipment!) and you can use the points to redeem gift certificates for a bunch of chain restaurants too. I use it to buy gas, groceries and some of my random spending and that all really adds up over time. It kinda feels like you get a bit more than a lot of the “cash back” cards once you take out their fees.
Post # 26
This is probably really old school advice, but pay for everything in cash! My Fiance does this and I used to think he was crazy lol. He saves all one-dollar bills and all coins he acquires during the week. He can save up about $70 alone in quarters in one week – he saves THOUSANDS every year between the coins and dollars. I know it’s unlikely anyone else does this because most people use cards and online payment for everything, but it really works for us!
Post # 27
I disagree with paying cash for everything. I pay everything with my cashback credit card (paying it off entirely at the end of the month). I receive a few hundred $ every year. Paying cash and saving the dollars and coins is just keeping track of your money (which I already do with my budget spreadsheets). Using a cashback reward card is actually getting paid to make all your ordinary purchases (groceries, gas, bills…). Of course, you need to be disciplined and budget-savvy. You have to make it work for you. I use the cashback money to make extra payments to my student loans (= the bank pays itself back).
Post # 28
I agree. If you have the discipline to look at credit cards as cash then there is a lot to make from cash back. I use credit cards 100% of the time and collect hundreds in cash back each year that I wouldn’t if I paid cash for everything.
Post # 29
I switched credit cards and savings to capital one. I pay everything with my credit card to earn cash back and now I am earning interest on my savings (BB&T) was paying me nothing….doing this eams me and extra $50 a month at least. I also looked at my cell phone plan and lowered it, saving me $20 a month.
Post # 30
What really helps me is having the amount I’m saving every month taken straight out of my paycheck into a separate savings account. That way, I don’t even consider it income because I never see it.