What are some good small habits to form to save big money?

Question

I want to know what are some good small habits to form in order to save big money say at the end of the year?
I have a feeling that i'm wasting very small amounts of money here and there because i dont realize something and at the end of the year it adds to a huge sum.
Don't tell me something like "go eat macdonald's hamburger meal 3 times a day" but tell me something like a win/win situation like "not only can you get this, but you can also save money at the end"...
please share your ideas.

Thankyou!

Lot's of good ideas are coming up, the bring your own lunch idea i still find hard to master after so many years...................

michael w: i have a truck loads of bottle but i've never heard you can recycle them for $

Answer 1

The obvious answer is, earn big money to begin with.

Good luck.

Answer 2

Ahead of time, sorry for the long answer but I wanted to give a few ideas so that if some don't work for you, then others might.

1. Put all your change in a jar. (I like to have change so that if something is $7.32 I can have that extra dollar bill and not more change, but I'll end up spending it anyway. I won't however buy a CD with $15 in change, so it gets saved.) Example-My boyfriend saved his change, always, for a couple of months and then changed it in and had a little over $200.

2. Try buying generic brands. (I used to buy only name brand foods at the grocery store, because it's not that big of a difference; however, a lot of foods are the same, be it Albertson's brand or Nabisco.)

3. Try to carry cash as often as possible, in larger bills. (I use my debit card a lot because it's easy and since the money isn't tangible, i don't realize how much I am wasting. On the other hand, when I have only twenties its easier to see how quickly the money goes and its harder for me to spend it on worthless junk.)

4. Sell back things that you don't use. (If you have a lot of books that you have already read, go to Half-Price books and sell them back; it's not a lot, but it's extra cash that would otherwise be wasted in unread books. Or cell back CDs that you don't listen to or movies that you don't watch very often; there are plenty of music and movie trading places.

5. If you read magazines a lot, try getting a subscription. This is cheaper than buying each issue of the magazine in the store, where they charge like $3 or $4 a pop.

Hope some of these are helpful. None of them are gonna create a huge nest egg, but a couple of them might provide some extra cash to invest or go on vacation. Good luck.

Answer 3

in our society it is hard to explain why we see everyone with everything on TV but we can't have it all. Our children are bombarded with consumerism from beforethey can even talk, no wonder they want it all! Right now is a great teaching moment for you that can serve your son well for the rest of his life! Why not give him some chores and an allowance he can earn by doing these chores and let him save to buy the items he wants? You will not only teach him about not getting everything right away, you will teach him about manging money, and about how to be responsible. A good allowance suggestion is $.50 per year of his age per week. So $5 for a ten year old. he could probably handle 2 to three chores a week, maybe one thing daily (like setting the table, or clearing dishes, and two things weekly, like emptying his garbage and putting away his laundry.

Answer 4

I used to live on a portion of my wage and save the rest. I usually was paid directly into a bank account. I'd only withdraw a certain amount. And with the amount I withdrew I tried not to spend it all, that way the following pay day I didn't have to withdraw as much.

It's a discipline thing. You have to make it realistic though. Every now and then I'd lash out but was able to go back to the same rule.

I've paid off the mortgage, always bought new cars and travelled.

If you can live out of supermarkets instead of takeaways it saves you heaps. If you can make your lunch and take it to work it saves heaps as well. It's often the little things that add up to holes in pockets!

Answer 5

When you don't use your television, computer, stereo etc. turn them off at the mains. The stand-by function could cost you as much as 100 dollars a year in 'wasted' electricity.

If you pay for bags at the grocery store, take bags with you from home and use them more than once.

Walk or ride your bicycle when you need to go short distances. You'll get the exercise you need free of charge and save money on fuel.

Look out for special offers and bargains at the supermarket. Plan your meals before you go shopping so you aren't tempted to buy items you don't really need.

Take your lunch with you to work. It could be left-overs from the evening meal the day before or you can experiment with cheap and healthy sandwiches and salads.

And most importantly - think before you spend.

Good luck saving lots and lots of money :-)

Answer 6

Some tips:

Return your bottles and cans, can save you well over a $100 a year. (Average of 2-4 person household)

Reset your temp settings at your to 60*F when no one is home.

Lay off the Dunkins and Starbucks everyday.

Try not to have a heavy foot on the road and you can save on your gas mileage.

Last but not least, try buying some store brands at the market. Stores work out deals with the food/item provider.

Mike

Answer 7

1. Keep a journal of all the money you spend. Across from that write in all the money you saved.
2. When you see something you want to buy, stop and think to yourself, "Do I really NEED this or do I just want it? Would this enrich my life more than the money I'd save would?" If you decide not to buy it - write that in your journal as money saved and put that money in your savings account.
3. Save at least 10% of everything you earn. Put it in the bank and do not touch it... only for emergencies.

At the end of the year, you'll be amazed how much you saved.

Happy saving!!!

Answer 8

Buy a small pocket book. Every time you spend money or use your cards write it down. At the end of each day total your day up. Look back at what you've been spending on, it will put you off. Make sure you put so much of your wages into a different account each month. Don't touch it. Clear all the small coins from your pockets/bag and put them into a bottle or piggy bank when it's full deposit it at the bank in your new savings account.

Answer 9

Don't eat out at all. YOu can usually eat in (or take your own meal) much cheaper than eating out. Don't use convenience foods. Learn to make oatmeal or cream of wheat for breakfast. Eat a PBJ sandwich or other economical sandwich food for lunch.

Don't rent videos, go to your local library and borrow them.

Check out the following website:

Answer 10

Make your own lunch to take to work. Eating out or buying sandwiches is quick and easy but add all that money up and you'd be shocked how much you spend in a year!