Post # 1
I have been married for a little over 2 months. I spent a good portion of my savings on. The wedding, it seems like I can not catch up with my savings, I am dipping into it more or putting less into it although I seem to be spending less. Do any of you bees have advice for me? My goal is to save 1K per month as I did before I became married.
Post # 3
@June232012: That’s exactly what I did when I got engaged…saved 1K per month. I opened up another savings account and faithfully the same time each month deposited 1K. It worked for me.
Sorry it’s not this huge tip, but I also stopped shopping so much and only bought what I needed, not wanted. I haven’t shopped for new clothes since the spring when I bought all new honeymoon clothes. But I have like over 100 shirts so it didn’t matter much to me.
Post # 4
I think it’s easier if you are saving with a goal in mind, IE. saving 1K a month for your wedding, rather than just replenishing the amount you took out. I know I always have that problem. Is there anyway you could just get the amount moved from your checking to your savings account automatically before it even hits your checking account? That way you can “pretend” that you don’t even have that money.
Post # 5
I found automatic deposits to work best. Each paydayI have $300 sent from my checking to savings. I end up saving more in my checking account, too, and move a chunk over from time to time.
Post # 6
Automatic deposits from paycheck to savings
Shopping for clothes less (less retail therapy)
Taking advantage of the coupon deals from stores like Ulta and Kohl’s (they have great deals)
Not going out for lunch or dinner as often
Learning that some generic and store brand products are just as good as some name brand products, sometimes even better and the savings is good
However, all in all, I’m not that great at bargain shopping. I went through a “poor, single mother” phase several years ago and was majorly frugal, however. I shopped at thrift stores and used only baking soda and vinegar for cleaning products, things like that. Now that I don’t HAVE to save money out of necessity any more I’m not as good at it.
I’m interested in everyone’s tips so I can get better!
Post # 7
Okay as a poor college student these are some tips that I use.
Only buy what you need. It seems really simple but it’s hard to put into practice. There are ways that help. Don’t go clothes shopping. Don’t even walk into a store for awhile or shop on the Internet. Chance are good you have enough clothes for awhile right now. Make detailed lists about what to get at the grocerey store once a month. This will save money as you won’t buy as many impulse purchases. Cut down on going out to eat–pack a lunch or do nice dates at home–you will save money on them. Stop getting coffee on the way to work, pack it. Same goes for a water bottle. Get a Brita bottle and then make sure that you pack that every day. And for those little garbage cans, use plastic shopping bags as liners.
Post # 8
“Pay” yourself first. Put the money away in an account that you cannot easily access (not attached to an ATM card, but you can access online). Pay for all the necessities and then consider what’s left your discretionary/”fun” money.
Don’t carry credit cards with you. Bring them out only when you need them and for major purchases only. That little piece of plastic can be tempting.
I know it’s 2012, but ditto for that Debit card….you subconsciously forget sometimes and that is a major source of money being spend wastefully. Withdraw a set amount you need for the week. You would be surprised how differently your attitude is about spending when you actually see and touch “your” money!
Buy only what you need when shopping for food, clothes, etc…you don’t need to have a basement full of “supplies” ready for the major disaster …even if you’re getting a “deal” on these items, you’re still spending money. Coupons only for things you actually need and will use withing a month’s time (when I see those extreme couponing shows with all that food,etc stockpiled, I just can’t see how it will be all used within a reasonable amount of time and wonder how much will be trashed).
Post # 9
Cutting costs on food is a MAJOR way to save.
For instance, when we go out to one of our favorite restaurants, we typically spend at least $20-25 with a little bit of leftovers.
Bear with me here – I’m going to bust out some math…
My homecooked meal the other night: $4.10 for 2 people. Plus I had 4 extra servings of chicken left at $.92 per serving to use on sandwiches/salads.
Chicken baked with Kraft Freshtake Seasoning – $0.92/serving
$4.50 for 2.3lbs of chicken breast – got 6 servings out of it, so $.75/serving.
Kraft Freshtake Seasoning for $1 with a coupon, so $0.17/serving
Broccoli – $0.75/serving
Bag of frozen broccoli florets for $1.50 on sale – $.75/serving (we each ate half)
Pasta with sauce – $0.38/serving
Cooked 1/3 of a $1 box of pasta – $0.17/serving
Used 1/3 of a $1.25 jar of pasta sauce – $0.21/serving
Post # 10
Whenever I find something that is totally awesome and would look great on me/in my house/wherever I always ask myself “Do I need this and will my life be impacted negatively in the near future if I don’t have it?” The answer is usually no. But if I’m feeling some really strong urges to buy I then tell myself “If you can wait a day, a week, or a month and you still REALLY want it, you can buy it.” Works every time.
Post # 11
@dkacerek Thanks! Great advice.
Post # 12
I cook a few big meals in the crockpot/ oven on Saturday or Sunday and freeze them in tupperware containers and freezerbags. That way we have meals all week with enough variety that we don’t get bored and eat out b/c we don’t feel like eating what’s already there. Saves us so much money.
Stores like Bottom Dollar Foods, Aldi, Family Dollar, and surprisingly TARGET are great places to buy food.
I clip and use coupons. Darling Husband and I have been Costco members for years and save a lot by buying in bulk. K-cup obsession? Buying them there ends up being 0.42 a cup, as opposed to Target/Wal-mart, where you’d pay 0.60 a cup. Brewing your own coffee saves major bucks.
Save on your water bill by getting an eco-flow shower head. We have one and the H20 pressure is great-not what you’d expect from a low-flow shower head. Save on energy by getting CFL bulbs. They’re ugly as sin, but really cut our energy bill.
I could go on forever with sneaky ways to save. These are just little ways. I think the biggest and best way is to do what the PPs have said- pay yourself first by automatically putting money from paychecks into a savings account that you don’t have super easy access to. Look for an account that offers high interest. Discover is pretty decent.
Post # 13
Thanks for all of the tips. I was saving 1k per month before I was engaged… It seems like since we have been married I have not been able to save the 1k more like 400 here and there… I have been spepending less, I always pack my lunch and we eat out maybe once a month the most twice a month. I have a strick budget for groceries! I keep track of what I spend. I hope I will be back on track by the end of the year
Post # 14
cut your cable bill- check out netflix or the library
make a list of everything you buy and how much it costs. if you have to write it down, you will be less likely to buy it
have automatic transfers from checking to savings, every pay period. slowly increase this a few bucks at a time, you will likely not even notice it
Post # 15
@kerensa: So funny that you mentioned cutting the cable and getting Netflix because I just looked in that today… I write down everything that I spend… But I think that I will give myself a cans budget and leave my cards at home. That away I can be sure to only spend what’s in my budget.
Post # 16
@June232012: I was just going to say that a budget (that you update each month so you can see where you really are spending/saving and where you need to trim back) will be your best friend.
I highly recommend buying the book Total Money Makeover (I listened to the audio book on my iPod to and from work). It all starts with making a budget and tells you how to build from there. Even if you don’t follow his plan for getting out of debt and investing, etc, just realizing how to lay out and stick to a budget will really help you grab onto those dollars that keep slipping away.