What is the secret to being a penny pincher?

Question

I have to tighten up this year all answers will help me.Thanks in advance....

Answer 1

First you are going to have to decide what is a need and what is a want. A want can wait until you can afford it, a need can't. Second, don't throw those coupons in a garbage. Everything from groceries, oil changes and store coupons (like Kohls and Penny's) and help stretch a dollar. I go to three different grocery stores a week and buy the items on sale with coupons (I saved $30 last week). It doesn't seem like a lot, but $30 x 4 weeks in a month $120. Third, and this is the hardest, you are going to have to tell your kids no to designer/name brand clothes and shop at Walmart, Target, Penny's brand, etc. I can get jeans for under $20 at Walmart, compared to $80 at the teen store my son would like to shop at. Good luck.

Answer 2

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Answer 3

Make yourself a shopping list, and take the list with you every time you go shopping. Buy ONLY what is on the list, and nothing random or spur of the moment.

Get a large lined note pad and for each month write down the name of the place where you bought (or paid for) an item (s), how much you paid (cash, debit or charge are the same), type of payment, and the reason you spent the money. Be honest with yourself and write down EVERYTHING. Keep your recipts at least until you have added them to the current page.

Yes, these expences have to include house payment (rent), utilities, phone (s), computer hook up (ISP), credit cards, vehicle payment, insurance (vehicle, home, health, life), etc..

After the first month, go back over the page, and see what you could have done without or less of. This will give you an idea of where the money is going.

Sounds like a pain, but it works, IF you really do want to tighten up on your expendatures.

Took me quite a while to figure out something that would work, but it does work for me. Most months I now have money left unspent in my account.

To make it easier on myself, I go to the page for each month, and enter the name, on a line, for each item that I know that I have pay each month. Then when these bills come in and you pay them, enter the rest of the info on that line. Everything else, just enter it on a line when you spend the money.

Do the same for each month.

Just remember that you are only fooling yourself if you aren't entering everything (even the cash from your pocketbook).

Hope this works as well for you as it has for me.

You will find an invitation in your 360 mail.

Answer 4

Go through your bills and cut out all the excess things (eg: get a slower internet connection, or cut down on your cable channels or stop paying a gardening service to come by every week and have them come by every month and do the rest of the work yourself). Also, stop going out as much. If you do go out, try and spend less money (eg don't get popcorn at the movies, bring a ziploc bag full of snacks, or just have an appetizer at a restaurant instead of a whole meal). If you buy coffee at Starbucks, cut that out, too. Try and reduce your snacks around the house (instead of having soda, drink water or juice). Buy in bulk and freeze the rest. Make meals to freeze for later (so if you can't afford food, you know there's still food in the freezer). Let your friends and family know that you're going to be saving money so let them know they're getting small birthday/whatever presents.

Answer 5

Here are some thoughts:

1) Whenever you think you want to buy something, ask yourself if it is something you REALLY need.

2) There are a lot of things around the house you can do to lower your utility bills. Turn out the lights when you leave the room, keep your thermostat low in winter and high in summer.

3) Pay attention to prices. Sometimes you can get something just as good at another store or by waiting for a sale.

Answer 6

before buying anything ask you self..Do i need this or just want it.
avoid shopping centres
when food shopping stick to basics like fruit, veg, meat, bread and staples like flour and sugar. Make your own snacks. NO store bought junk food.
no take away
talk to utility companies about paying into bills weekly to avoid big bills
only buy needed clothes in sales
simple things like turn off lights you are not using and any appliances. Don't use standby mode
try to walk more places if you can to save petrol
look for free things to do. You will be surprised what is out there that is either free or very cheap
and remember always allow yourself a small "allowance" every week to do something small for yourself. For me that is buying a coffee when out with friends (we meet once a week) you need to have a little something for yourself or things go bad

Answer 7

Cut all the expenses you can!

1. CANCEL...Cancel your cable (use rabbit ears), cancel any magazine subscriptions, gym memberships

2. ELECTRICITY...keep all lights turned off when not in use and turn down the heat/air conditioning when you go away, don't keep things plugged into the walls when not in use (they still use a little even if not on). Having Blackout lined windows really cut back on our electric usage also.

3. FOOD...Don't go out to eat. Bring your lunch. Lean Cusine and some Fruit = $3/ meal. Not bad...and you'll loose weight! Eat Ramen Noodles. Clip coupons and buy items on sale at the store. Keep competing store ads with you. I know Walmart will match prices if you show them other store's ads.

4. Make some extra cash....If you have perscriptions you refill all the time you can transfer them back and forth to competing pharmasies that offer $20-$30 Gift Cards to get you to transfer to their pharmasy. Sell any books and videos to Half Price Books (or other used book seller). Sell junk around the house on Ebay.

Best of luck! Start Pinchin'

Answer 8

Seeing as this is Cooking>, I'll give you my tips on how to lower the grocery bill. Don't eat out, read the circulars for sales and buy in bulk when you can (like 5# ground beef on sale and portion it up and put it in the freezer). Buy dried beans instead of canned. Lots of pasta and rice. Try not to buy anything processed if you can help it. Shred your own cheese instead of buying it in a zip bag and then toss it in the freezer. Buy gladware and save all those leftover soups and food.

And for an interesting thing, track all your food expenses in Excel. It's amazing to find out how much you really spend in food aside from what you think.

Good luck! We've all been there.

Answer 9

budget, use coupons, make a list while shopping, only shop for necessities, pare down gifts, turn off all lights that are not in use, freecycle, take public transportation, get rid of cable, check that you're getting the best phone/internet deal. i'm sure there's more. don't go out to eat/drink.

Answer 10

only using two sheets of toilet paper per wipe (good luck keeping your hands clean..LOL)...

and stay away from larger grocery stores with everything in them...too much temptation