How can I find more to save in the monthly budget?

Question

My husband and I are trying to build a comfortable nest egg for the purchase of a home, vacation, major emergency, etc.

Right now, the bill are paid and there's a bit left over for lesiure money each month. We have been trying to put $500 aside (combined) each month. I feel like I have already cut everything we can to save, but if anyone has something to add, we appreciate it.
*Shop for only sale items, use coupons, buy store brands
*Decrease withholding so tax payments even out
*Take side jobs when possible
*Make coffee/tea instead of buying

Anything you can add is great....thank you

Answer 1

Look at your monthly expenses like cable, phone, insurance, etc.

You can find better deals if you try. Especially if you are a warehouse club member, go to their web site and look under services. Costco saved me $500 a year on auto insurance.

If you aren't a member of a warehouse club, try to become one, and start shopping for grocieries and supplys. I hate doing so, but they do save money.

Also try and find a credit union for your banking. They are usually much cheaper, especially for things like late fees or overdraft. Instead of a megabank charging you $39, they charge you like $2.

If you have one of those all you can eat for X dollars every month phone plans, look into getting your long distance from Americom.com for 4 cents a minute instead, and then just buy the basic minimum phone plan from the monopoly phone company.

Call your cable and see if they have a promotional offer, or cut extras like HBO.

Also avoid eating out, including fast food. Especially for lunches. A packed lunch can range from $1 to $3, while eating out usually is at least $7 and often far more. This is my place for big savings.

If you really want great advice on saving money and good financial advice, start listening to Clark Howard on the radio. He recently is making podcasts available on his web site at www.clarkhwoard.com

Answer 2

Some of the best books that I have read recently were from my local library ... "Pay It Down" by Jean Chatskey; "Debt Proof Living" by Mary Hunt; and "Sensible Saver" by ... er, um, don't recall. I also find alot of tips on saving money from Woman's Day and Family Circle articles. I comparison shop online with sites like MySimon.Com, BottomDollar.Com and others. I have Netflix instead of all the cable channels that I never watch. I have a 401K plan for future retirement supplement. I have a part time business for additional tax credits. I shop by value instead of price. Swap things with family, co-workers and friends whether that's jewelry, clothing, coupons, baked goods, small appliances, or whatever. Buy used instead of new when possible. I could go on and on but as mentioned the library will have a number of books and magazines in their collection.

Answer 3

As with many things in life there are multiple ways to achieve your goals. With money - you have to be in control not the money. By this I mean you have to know what you are earning, what are you speaning and on what, how much do you want to save & very important WHY ? Then you work out a savings plan - not from what you have left at the end of the month but right at the start.
To help me, I have been using a Personal Finance Software package by Australian business Parcus Group - Personal Finance Associate.
The product is very good & simple to use. For AU$29 it costs, you get budgeting, financial planning templates as well as advanced features that typically cost lots more as separate software packages such as investment real estate calculations (mainly based on rental cash-flow analysis) and some value based shares valuations (based on Warren Buffet's stock valuation methodology)
Their website is http://www.parcusgroup.com
For anyone interested in improving their budget & own wealth creation this product is definitely worth looking at.
Best of luck

Answer 4

Write down every monthlybill you have. Anything you have to have to survive circle (housing, electric, lights, water, gas, groceries, rx)
Cut/Cancel anything not circled like:
having both cell phones and house phones. Cancel one or the other
Cable. you won't die if you don't have it.
disconnect your internet.
Get a loan from your bank or credit union to pay off your credit cards and cancel them. you'll have alower monthly payment and muuuuch lower intrest.
Cut the 'extra' clothing budget. It doesn't matter if its on sale or not. Don't buy it because it's on sale.
If you have 2 car payments and you are a homemaker or if you and your husband can carpool, sell a car.

Answer 5

Suze Orman has a great Money Matters column on this. Check it out

Easy Ways to Save $5,000 a Year
http://finance.yahoo.com/columnist/article/moneymatters/2048

Answer 6

Wash only full loads of clothes and dishes.

Use the same towel for showering at least 2 times a week.

Use small towels/rags for cleaning instead of paper towels.

If you are going to the movies, bring a huge bag to stuff snakes/canned cokes in . (they never check)

Bring your lunch to work/school.

Answer 7

Make paying yourself the first bill you pay every month.

Answer 8

By truly determining your "WANT" from your "NEEDS".

Answer 9

get a part time job or two....