10 Savings Strategies
By ebsharer
@ebsharer (5515)
United States
April 9, 2008 12:03pm CST
Found on Yahoo here is the link http://biz.yahoo.com/allbiz/080331/2446_id.html?.v=1&.pf=banking-budgeting
1. Track spending and evaluate results. - See what you are spending on and if its a want or a need.
2. Pay yourself first. - Give yourself some money, then pay the bills, the rest goes in savings.
3. Company savings plans. - Talk to work about 401K etc.
4. Forget the plastic. - Don't use high intrest credit cards or max 25 of them out.
5. Learn how to shop. - Use coupons, compair prices, etc.
6. Look to save on your home. - refinance ...
7. Save on utilities. - Turn those lights out, use energy bulbs.
8. Be car smart. - don't have 3 cars for 3 different things. be smart about hoe often you drive, shop at one or two stores.
9. Get everyone onboard. - Get the kids involved - have them cut coupons.
10. Read the fine print. - Watch what you are signing up for.
So will these help you at all?? They made me think about a few things that could change in my spending.
1 person likes this
2 responses
@oscar6 (1938)
• United States
9 May 09
I think that these are great tips. I am always looking for new ways to save money. Just today I made a budget. I first figured out how much I spend on things like food and gas last month. By doing this I found out that I was wasting a whole lot of money in places that I shouldnt be, like eating out. I now know where I can cut back on things.thanks for sharing these tips!
2 people like this
@ebsharer (5515)
• United States
9 May 09
No problem! I thought they were great tips and have used them myself.
It is a great idea to write down what you spend becuase you actually have to look at where you are spending money. We did it once by writing gas, groceries, eating out, etc on each paper. At the end we were amazed at how much we spent on a few things!
1 person likes this
@saundyl (9783)
• Canada
14 May 09
Awesome tips!
I need to relook at my budget. I tried a spending journal but some how i forgot to actually write in it after the first day. Its holding my bed up now!
I found that i got rid of the credit card i had one in university and it was always so tempting to buy because i could pay for it later. Now i have a prepaid card through much music and for it to work i ahve to put money on it. If i dont have the money to use it then i cant get things. It works really well to curb impulse buys. I use it online now for paypal and ebay purchases. But i have to load it then wait 3-4 days for it to load so i have time to reconsider if i really want to make that bid.
1 person likes this
@ebsharer (5515)
• United States
15 May 09
Thats a good idea on your credit card.
I don't necessarly keep a spending journal. I have 2 bank accounts and put X amount into the "bill" account and X amount into the "spending" account. I know that it takes about 2500 to pay my bills every month so I put 625 a week in my bill account and anything over that goes into my spending account. Some times I have a hundred dollars to spend and sometimes only ten for the week. It really helps me keep to budget!
1 person likes this
@saundyl (9783)
• Canada
15 May 09
Thats a really really good idea. I try to do that but i put my bill money in the chequing account and the other money in the savings account. Sometimes it works sometimes it doesnt. I also earn money on the side by moonlighting a bit in my home town which i keep totally separate and i call that my "fun money" i save it to go see my bf or on trips.
