How to save more money?

Question

I am a very thrifty person and I love saving. Any ideas of saving more money?

Answer 1

Dont spend it.

Answer 2

Planning your budget every week/month is a big step. Also keep a record of where your money goes. We use a spread sheet and it makes a big difference when you know how much you are spending on what things.

Then you can decide where you might be able to cut back on your spending and redirect your money. A good example is when I found out I was spending over a hundred dollars every to weeks on small nickle and dime items every time I went out (A coke here, a coffee there - a treat for the kids ... it added up quickly).

I started only purchasing items I had planned on before going out. -- Making a list and sticking to it. The kids still get an occaisional treat - but it's something I put thought into and it's one big thing instead of a lot of small things. A big book, instead of a couple of small cheaper toys that don't last.

It also hellps to look at your feul bill every month -- Both for your car and your house. Are you trying to make your car trips more efficient and doubling up with others when you can?

It also helps to make sure your house is well insulated, and has clean air filters so your heat will run efficiently. Also - don't have your your house like a freezer in the summer and the tropics in the winter. It cheaper and healthier to have the temperature be around the 75-80s in the summer and the heater around 68-70's in the winter.

The folks will be better dressed and acclimated to what the weather is outside and won't experience such sudden shifts in temperature. And you save energy.

It also helps to shop in thrift stores for things. You can also save money by not only buying second hand, but by comparision pricing. I usuall will go online to get a notion what the average cost of a big purchase item is. Then I will either go to hthe different area retailers and compare or call/ look up prices in their ads. That way you can often save significant dollars on the price. This works not only on big purchase items but on smaller things as well.

I go to three different grocers with a list in mind of what I get from each -- I know that I can milk cheaper from one - Fruit from another and meat from yet another. I plan my trips according to when I will be in that area anyway -- That way I'm not going out of my way. I know that I have to go every week to take one of my daughters to Physical therapy - so I do one of runs at the grocery next door to the therapist while she is being seen. It helps save gas, time and money.

I have to say that just using a lot of planning and being aware of where your money is always going will help put money in your savings.

I usually save about eighty dollars total every week on my grocery bill, since I started doing this again. (about four or five months ago. I had gotten lazy and was just going to one and my grocery bill got out rageous.)

I also believe that credit cards are a big no-no. You shouldn't spend money you don't have - The interest will get you in the end. the only exception for me would be a hospitalization or emergency where I had to use a credit card to pay for medical. --

Even then, Hospitals are very often willing to work out a payment plan that is going to better than what you would have with the credit card companies. Often the hospital financing won't cost interest.

Answer 3

You could not eat out as often, save gas by planning your trips to the store(one trip instead of three), use coupons from the newspaper, go to basic cable instead of premium, check with your auto insurance company to see if there is a way to lower your bill, turn the thermostat down a couple of degrees and put on a sweatshirt, drink water instead of pop. That's just a few, but could help you. Good luck.

Answer 4

You should read the book Secrets Of The Millionaire Mind.. you will then know not just how to save money but how to make and have LOTS OF MONEY ;)

Answer 5

Yes, if you pay income tax, establish a #529 account at your bank or credit union for your school expenses. It lowers your income bracket.

Start a credit union account as they usually pay more interest, and they have cd's. Put your gift money from your family in the bank for your college education!!! And always say thank you because they are encouraged to do more for you!

Answer 6

Put 10% of your earnings in the bank untill you have enough to open an indexed annuity, they never lose money, but they will gain .

Answer 7

Yes,you could cancel your inter-net service.That would save you quite a lot in 1 year.

Answer 8

there are alot of great books and magazine articles on money saving tips at the library. i also go there for videos.

Answer 9

invest it in some saving schemes