Any OTHER tips or pointers on how to save money?

Question

I just started keeping track of where my money goes. I created a budgeting sheet that allows me to record EVERYTHING total it up on a daily and weekly basis and make comparisons. However, as good as it is, it's only helping me save 1/2 to 1/4 of what I would really like to save. Any inexpensive suggestions out there???

Answer 1

If you've created a budget and are good with where all your money goes ... you've made a good start. Now if after all that you still can't save enough money, then there are a few options. 1) Make sure that you aren't spending foolishly - look at the budget and truly ask yourself ... do I need to spend that money ? 2) Go frugal ... shop smart. Don't buy name brand stuff, buy the less expensive stuff. Use coupons whenever you can ... a $1 investment in a Sunday newspaper can save you lots just from the coupons. 3) Think about where you shop ... it's amazing the deals you can find at thrift stores and discount places. (Note where you can get the best deals and arrange your shopping around those stores. 4) If you have debt, call them up and try to negotiate lower rates.
Saving money is not easy ... it seems like you have the right attitude however. Go get 'em !!!

Answer 2

Your goal at the moment should be to do well in school and get a degree in a field that you love. If you have supportive parents, they will help and when you graduate you will be making more serious money. However, I would recommend that you bank 25% of the money you are now making and do what you can with the rest. Save the first 50 or 55 dollars from each paycheck--otherwise, nothing will ever be saved. If your grades are good, consider taking another part time job, but remember--school comes first! I worked my way through school by working summers and then one night a week in a restaurant during the school year. Good luck.

Answer 3

Try a dollar store near you and you can save money on food many times getting the same products you would pay more for elsewhere. Check out your Salvation Army store for other things you may want or need and pawn shops as well.
In our area, Wonder bread has a day old store where you can buy bread they consider too old to see in stores but just as good for a fraction of the normal cost. Good luck with the budget!!

Answer 4

Make your own household cleaners.

Use the library for books, music & movies. You can place a reserve on newer items & make purchase requests for items the library doesn't yet carry.

When you really want to see a picture on the big screen, wait for it to go to a second-run theater, which usually only charges a dollar or so for admission.

Use up your stuff as much as you can. For example, when your toothpaste tube is "empty," cut it open along the bottom & one side, & scoop out the remaining toothpaste with your toothbrush. You may be able to get several more days' worth out of the tube this way.

Sign up for your local Freecycle to find some used items for free in your community.
http://www.freecycle.org/

You should be earning interest on your money. Check out different bank account options.
http://www.bankrate.com/
One possibility is ING Direct.
http://home.ingdirect.com/

Check out these ideas from a Christian author (Mary Hunt) who personally experienced what it was like to be deeply in debt, & now has found her way to a more constructive lifestyle:
http://www.debtproofliving.com/

If you are a Christian, don't forget to tithe in faith!
http://www.biblegateway.com/passage/?search=malachi%203:6-12;&version=31;
http://www.biblegateway.com/passage/?search=Haggai%201%20;&version=31;

Check out these books from your local library:
Miserly Moms, Miserly Meals, Frugal Families by Jonni McCoy
The Complete Tightwad Gazette by Amy Dacyczyn
Live Your Life for Half the Price by Mary Hunt
America's Cheapest Family Gets You Right on the Money: Your Guide to Living Better, Spending Less, and Cashing in on Your Dreams by Steve & Annette Economides

Also look at books by Clark Howard (such as "Get Clark Smart"), which give you tips on making wise purchases.
http://clarkhoward.com/

Answer 5

Well, start your sheet with what you need to save. In other words, pay yourself first. If you have a savings goal, you can only make it if you fund it. So, you have to set that amount aside first, THEN try and work your expenses out after that. Assign every dollar of your take home pay to something - savings, utilities, food, etc. Because you aren't hitting your goal now, my guess is you will need to dial down your life style. Cook over eating out. No movies. What "luxuries" can you do without - do without them until you hit your savings goal.

Answer 6

Best thing is to develop a habit to save money. Fix up the amount to be saved every month and put it in recurring deposit in a bank. You will automatically adjust with balance money for your expenditure.
List out unwanted/avoidable expenditure and try to avoid spending money.
Avoidable expenditures are.... drinking, excessive traveling/holidaying, purchase of non essential items etc.

Answer 7

Sit down and budget how much you will need for one week's food, entertainment, clothes, etc and do NOT let yourself go over the budget.