What are some of your money saving tips?

Question

I'm wanting to save money for a down payment on a house. Please tell me some of the things you do to live frugally/save money.

Answer 1

Whenever you go to the ATM to withdraw cash they give 20s, so when you break the $20.00 put all the change (bills and coins) into a jar for savings. When that gets full wrap up the coins and deposit intosavings. If you have enough put money into CDs or something that has a higher yield than a standard savings account.

Good luck. Oh. also invest in companies 401K and do the max that the company matches.

Answer 2

Save every extra dollar you have, it adds up. To get the things you want sometimes you have to make sacrifices such as giving up expensive clothes, go for the cheaper foods they usually have the same ingrediants anyway. Little things in your everyday life can make a diffrence. Put a percentage of every paycheck into the bank where you cant touch it. Try packing lunch instead of eating out, take turns riding to work with coworkers, have a yardsale using the stuff you werent going to take to the new house anyway. Get an extra job and use the pay only for savings. I buy body bath products from the dollar store (it does the same thing anyway)
Off the subject try to get a home on land contract, its like paying rent but your actually buying the home.
thats all I got for you today

Answer 3

Pay yourself first. Most people concentrate on paying all the bills, cc, debts, etc. But you should really pay yourself first. Bills, cc, debts, utilities, rent, etc, are important. But paying yourself is more important if you want to save money.

You should set a goal on how much you want to save each month, then put that money aside each month before you pay any other bills/debt. It is very tough in the beginning. But once you get the motivation to do so, it's just another chore.

From a frugality standpoint, cook for yourself rathing than going out. Bring your left over for lunch the next day at work. Have a TV dinner rather than going out to the movies. Make coffee at home, rather than the daily Starbucks. Find the cheapest gas station near your house. Shop for the cheapest car insurance. There are many more ways to save. But YOU have to figure it out ;)

Saving is easy, but it requires dedication. The key is "delayed gratification". Good luck.

Answer 4

The first one I learned from my dad. Keep a big jar in your bedroom, each night, put all your spare change in it. All $$$ bills you break, put the change in the jar.By the end of one year, you should have at least a few hundred dollars saved up. As for other stuff, clip coupons, use store "savings cards" like Safeway, etc. Or, if you have a Wal-Mart near you, shop there. Watch your electric bill! Keep lights off in rooms not currently in use. Keep heat at decent but not too hot a temp. Use. microwave more than regular oven as much as possible. Do you drink coffee? Latte's? Limit your "splurges". Make a shopping list for groceries, and stick to it. If you smoke-please consider cutting down, and for every pack you don't get, put that money aside, like in your jar. If you have a bank account, Bank of America has a "keep the change" program with their checking accts. See about banking with them, and sign up for the "keep the change" program. That will be a big help right there too. It is for when you make purchases with your debit card. For instance, you buy something using yur debit card, that costs $1.50. They round that up to $2.00---and automatically put the 50 cents change into your linked saving acct. Cool, eh? Please, don't buy on impulse! And please, consider limiting your purchasing of new clothes, do it 'cause you NEED it not because you want it. The one thing that I think really helps--write down your budget-at the start of each month. Budget your pay checks for neccessities first, and please consider putting some money into a savings account. I wish you the best. Take care. You will succeed!

Answer 5

Congratulations! We use Dave Ramsey's envelope system. "A name for every dollar, he says" That way you are in control of the money. Write a budget. Allow more for food than you think. Then simply write on envelopes, food, clothing, gas, etc. When the paycheck comes, get cash out for each envelope. Only use cash from the envelopes, when it is gone it is gone. It really helps know where your money is going. Anything leftover I would put in a savings account for your house. Dave Ramsey says that your house payment, for future knowledge, should be no more than 1/3 of your take home pay. Don't eat out, set up a weekly menu for food, stick to your plan and you will get that down payment! We are saving for our first home too, so I wish you the best, and think you should look into Daveramsey.com! He takes common sense things and lays them out for you to make things easier. Good Luck!!

Answer 6

See if you can get cheaper utlity suppliers. Check to see whether the supermaket you shop at is the cheapest or whether you can buy food at markets etc to save money. Do allthe overtime tat you can. Do not buy luxury items at all such as clothes, shoes etc. Do not eat out or have takeaways. Turn your heating down by 1 degree and change you light bulbs to energy saving ones. Limit how often you go out drinking and ow much you spend. Cut down on what you buy people for presents, send email cards instad of buying them. Try to use your car less, walk or cycle instead. There are also tips on how to earn more on the following website:

Answer 7

1. Make your own meals. Eating at restaurants, and/or buying take out food, is much more expensive than making the food yourself at home. Added bonus is you'll end up eating healthier.

2. Don't buy Starbucks coffee. That $5 a day lattee is a $150 monthly expense!

3. Don't go to the mall. Avoid temptations.

Answer 8

Here it is.....Budget budget budget. Use the old tomato can theory. Take your income. Take your expenses. Divide your income by your expenses then divide that by the amount of weeks you get paid. This way you know how much you need towards expenses (bills) and how much NET you have for spending, saving, etc. This way you will know what you have left for saving, and you can save more.

Answer 9

if you pay off loans and other things faster you can use the money you would usually spend on the bill to put into your savings....example: you have a loan ur payment is $50 you pay that off then u go to ur next bill and use the original $50 on it to pay if off ..after everthing is paid off u have all that extra money in savings!

Answer 10

Downsize on services that are not necessary. For example, switch to basic cable if you have any premium channels, switch to a less expensive internet provider like Netzero, buy mostly on sale supermarket items and store brands, minimize ordering out and going out for meals.