What are your best money saving tips/tricks?

posted 2 years ago in Money
Post # 2
Member
1471 posts
Bumble bee
  • Wedding: October 2019

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morethanyesterday :  I bring my lunch everyday too and I try to bike to work at least 3 times a week. I also shop second hand at savers and tjmaxx or marshalls for active wear. 

Buy in bulk e.g. instead of buying a can of beans, I will buy a few bags and make beans from scratch, freeze half and the other half is for meals during the week. We also make a lot of rice (also bought in bulk) and try to buy ‘in season’ vegs. I also do ‘cheap lunches’ like frozen peas on top of rice or cooked lentils. 

I also try to buy all furniture etc second hand (pretty much anything I can) and scour second hand stores and garage sales, yard sales, tag sales. 

We try to keep christmas gifts to a minimum/what is needed and tell people in advance we are on a budget to keep expectations realistic. 

Not sure what else! 

Post # 3
Member
1345 posts
Bumble bee

I drive an old car in order to not have a car payment. 

Edited to add: I also don’t have a cell phone plan. I use a tracfone instead. I also don’t have cable. Just network tv and Netflix.

Post # 4
Member
8998 posts
Buzzing Beekeeper

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morethanyesterday :  we are a one car family and that saves us thousands of dollars a year. We also constantly renegotiate our cable/internet package so it’s fairly cheap. I shop at a low-cost grocer (woo Market Basket!) to save on food and try to be mindful of our utility usage.

The biggest tip is that we save first and spend the left over rather than the other way around. Savings is a bill like any other and it is automatically transferred every single week from our paychecks. 

Post # 5
Member
329 posts
Helper bee
  • Wedding: April 2019

It may not be the quickest way to save money, but other than putting away a set amount in my savings every week, I hoard single and five dollar bills. My fiancé thinks I’m weird lol. 

Post # 6
Member
1909 posts
Buzzing bee
  • Wedding: September 2017 - Pearson Convention Centre

We are a one car family. I make most meals at home, we don’t have cable. We are in a family plan for our cell phones. Every time we spend money no matter how insignificant it is I write it down and keep track of all our spending. I also try to price match whenever it’s possible

Post # 7
Member
956 posts
Busy bee
  • Wedding: May 2019

Definitely shop for groceries at a budget store. We buy most of what we need at Aldi, and then go to a regular store for the few extras. It saves us at least 50% on our monthly food budget. 

I’d also look into setting up automatic withdraws from your paycheck. Have it set up so a certain amount of your money is automatically deducted from your paycheck and put into a savings account. It’s so easy to save when you don’t even realize the money is gone!

Post # 8
Member
338 posts
Helper bee

The best hack I’ve found is to actually track day to day expenses and build a monthly budget.

This allows me to focus on tackling the largest expense that will get me the biggest impact on savings rather than things like “turning off the lights”.

Housing and transport are the two largest expenses, followed by travel and food. Other things I like to track down are discretionary/petty cash spending. these can be impulse buys for the house or Amazon purchases. I try to limit these. It’s easier to control when you can see it.

Post # 10
Member
8998 posts
Buzzing Beekeeper

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morethanyesterday :  a budget store is like Aldi, Market Basket, Price Chopper, etc. compared to Whole Foods, Trader Joe’s, etc. For comparison I can do the exact same grocery trips at Shaws vs. Market Basket and I’ll spend $100 at the first store, but only $60-70 at Market Basket. I actually find that for most items the quality is better at MB so that’s a double win. Also often small ethnic markets are really cheap for staples too if you live in a big enough city. 

Post # 11
Member
2584 posts
Sugar bee
  • Wedding: November 2012

For us, it’s been three main things: 1) Zero-Base Budget every single paycheck 2) Cash Envelope System and 3) Meal Planning.

Post # 12
Member
275 posts
Helper bee
  • Wedding: December 2017

Download “you need a budget” – called YNAB. it’s amazing!!!! It has helped me save SO much money in the past few months!

Post # 13
Member
2982 posts
Sugar bee

I have a monthly budget for everything. Start with monthly expenses (mortgage/rent, grocery, health insurance, etc). Then your yearly or bi-yearly expenses (oil changes, car insurance, car registration, etc). Then add other discretionary spending (charity, gifts, travel, etc). 

Calculate how much that adds up to-if it’s more than your monthly income you’ll need to make adjustments!!! Put the leftover towards an emergency fund & savings. 

Every time I buy something, even a $2 coffee, I get a receipt. On the weekend, I write down my spending in the allotted categories. Then it gives you an idea of where you’re at each week & how much you have left to spend. So if you’re at the mall, and you’ve already maxed out your clothing budget, then don’t buy more clothes that month!!

Hope that helps!!!

Post # 14
Member
2252 posts
Buzzing bee
  • Wedding: March 2019

I literally have like 4 checking and 3 savings accounts! I need to keep money away from myself or I spend it. So I have a travel savings account that a certain amount goes in each month, an “Oh sh*t” account in case of emergencies, and a “its just nice to have a savings” account which is linked to my checking account with my debit card in case I find something I really like. That way I don’t touch any of the money! I also have a checking account for my car payments (had to start one to get the loan through the credit union), one for household bills, one for student loans, and one for my spending $$ which is the only one with a debit card attached to it. A couple of my savings accounts are linked to stock market accounts so I can move cash in and out as needed, and get a little more for my money. I really find the easiest way to budget is to just set up seperate accounts!  

Post # 15
Member
1626 posts
Bumble bee
  • Wedding: March 2021 - Kauai, HI

I have a checking account that automatically transfers money to my savings every time I use my debit cart.  It adds up fast.  Though recently I started charging everything to my credit card so I can rack up sweet cash back.  Which great too!  I agree with the previous poster… save first then spend the rest.  I set out a goal of what I want to spend and put there rest in savings.  Then I have to take it out of savings if I need it.  Super painful!!

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