Can anyone share their tips and tricks on money-saving?

Philippines
December 10, 2012 11:03pm CST
I am the type of person who couldn't stop thinking what to buy when there is still much to spend. So the consequence is we always come short of funds every time. I've been trying so hard to be frugal so I can save for my family for the unpredictable rainy days ahead. But I feel so deprived every time that I attempt to do it. Sometimes new products, new gadgets are just so hard to resist; and can't help but give in to the temptation. I know it is crucially important to save especially for the kids. Their future should be the ultimate goal in the family. But I just find it so hard to do it. Can anyone share some practical and effective ways to do it?
6 people like this
14 responses
• United States
11 Dec 12
try to put our money in your house some place and make yourself leave it there. I find times go by and I have put money here or there and later find it and leave it there.. leave your money alone..
1 person likes this
@ARIES1973 (9534)
• Legaspi, Philippines
11 Dec 12
Hi belle! One way for me to minimize my expenses is to avoid going out whenever I don't have work, on weekends. Yes, I keep my self busy with myLot so that I will not be tempted to go out and you know, if I go out, there is only one place I love going, the mall. Have a nice day!
• Philippines
11 Dec 12
I really agree that going to the mall can make us bankrupt. This is what I used to do that contributed to my spending spree. So now, I have to do away with it and keep myself busy with more productive tasks. Thanks for contributing a good piece of advice.:)
@sweety_81 (2129)
• India
11 Dec 12
I think one has to be disciplined to control one's urges for excessive spending and buying things. Utmost importance has to be to planning one's expenses, keeping a tab of them also. One way could be to try running with existing resources for many days, and go to the market once most of your existing grocery/other stuff has been used up. Also, keep a record of your major spending. However, you would have to follow a disciplined approach.
• Philippines
11 Dec 12
Thanks for those very smart tips. I'm pretty sure I'm on my way now to being a wise spender. I appreciate all your pieces of advice.
@betty1989 (752)
• China
11 Dec 12
yes, you should save money for you kids and family. As you said, we should prepare for the unpreditable rainy days. here are some tips for you to save money. 1. always have the idea of saving money for yourself, your family and your kids' future life. keep in mind. 2. when you go shopping, list all the things you need to buy and count how many you will spend on these stuff. remember not to bring too much money, just cash for the stuff listed. No credit card,no debid card, no visa. This can help you risist your desire to buy something new. hope this can help you. have a nice day.
• Philippines
11 Dec 12
Thank you so much betty. Am a bit motivated now with all the tips you're giving me. Highly appreciate it. Thank you big time!
2 people like this
• Philippines
11 Dec 12
Did you talk to your husband about it? If you can't resist the temptation no matter what you do, then it will be very hard for you to just follow the tips that people will tell you like don't go to the mall or don't look for new gadgets. My advise is, for the meantime, let your husband budget. All excess money must be handled by another person because you can't help but spend them. Open an account in bank then let your husband hold your atm or bankbook. Your money should only be exact like gas, or allowance if your working and should be given to you on a daily basis. Maybe after you experience a life with no money, you'll then learn to fight the temptations.
• Philippines
11 Dec 12
I think going to the mall is one great culprit for spending too much. I often go to the mall for window shopping when I get bored and that's when I get to buy unplanned and unnecessary things. I didn't realize it until you've told me this. Thanks for the advice.:)
@KrauseHome (34983)
• United States
14 Dec 12
Yes, there are many times when we want to be able to save some money for something, and it is hard. Being able to save some money for a rainy day, or for a vacation, etc. What I find works sometimes for me, is set up an envelope somewhere in your house, or envelopes. When you get paid, take maybe say $20 and put it in the envelope and then hide it somewhere vowing not to touch it. Then slowly add more when you can, and let it all add up. As long as you vow not to touch it, you will be surprised what you might have in the end.
@elisa812 (3033)
• United States
12 Dec 12
One of the best ways I have found to save money is by using coupons. I know it doesn't seem like it would be very much, but if you can find the items that are on sale, and then find coupons for those items, then you can really get things for much less than their regular price. Also, when I can get something for a really great price, I usually try to get several. That way, once the product goes back to regular price, then I don't have to buy it for awhile, and I am usually stocked up enough so that I can wait until the next time it's on sale again to restock...this way, I never pay regular price for things. Also, whenever one of us gets paid, I always try to take a little bit of money out to set aside in our savings account first. That way, we can't accidentally spend that bit of money, since it is set aside in advance.
@surekharathi (14134)
• India
12 Dec 12
This is depend us friend how spend the money if you have kids then you should understand now you have money but in future we cant say anything so at least some amount should be save from monthly income. The best way is bank because now share market is down so I dont like to invest in shares. But you can save as insurance for 10 to 15 years insurance then you will get more money. I always saved some portion of my income for future. Now my income is low but saved little bit income.
• India
12 Dec 12
We all are working hard for money, some times our earnings are not enough for us and we work hard to earn more. We have the ability to live a happy life with our earnings, if we organize our spending in a good way. We must be wise and spend our money for the needy things to live a happy life. We must think twice before buying a product, there is nothing wrong in buying necessary items, but some persons will buy some modern items to show their status, we must surely avoid this kind of unwanted expenses. If we need a modern equipment and we don't have enough money to buy it, we can go for second hand items, it is for better than getting loan or borrowing money from other person to buy the new thing. There is nothing wrong in buying second hand items and we can find a lot of good things with it. We must avoid unwanted expenses. Lot of deals and discounts are available during festivals and important time, we can buy our product in such times to save our money. We must avoid unwanted dinning outs and prepare food by our own to enjoy our self cooking activities. There is nothing wrong in dinning out once in a while, but some people are interested in frequent dinning out and spending a lot of money in fast food center we must surely avoid this habit to keep our health in a good manner. Preparing budget and spending within the budget will help a lot in savings. Be wise and spend your money in a good way, don't spoil your health to increase your earning, if you organize your spending, you will save a good amount every month without more strain.
• China
12 Dec 12
Well as for me,I have a little trick,and that is:do less hang around in the mall or street,if you do not spend more time in the street or in the mall then you will not find those new stuff so that you will not have that impulsion to buy something. But may be that will not effect you so I still have some advice,make plans.You should make a purchase plan every week and every month,set a budget first when you find out that your cost has reach the budget then you should not buy anything at all,just follow the plan as tightly as possible. Good luck with you and merry Christmas.
@Angelpink (4023)
• Philippines
12 Dec 12
Just a simple tip , you need to know your wants and limit your needs . In this way you will be able to save what's left from those needs. If we keep on following our whims then future of the kids and whole family would be at risk . Remember not all days the sun shines , rainy days will really come , then are you ready for this and are you as ready as the ants?
• Philippines
12 Dec 12
Bottomline is DON'T GO BEYOND YOUR MEANS. Some people tend to raise their living standards whenever they get a pay increase. Well, actually, you seem to be one of them. The only one who can stop this is YOU. You need to know what is a necessity and what is just a whim. You mentioned that you have kids...well, think of their future. Raising children will need a lot of funding and you really need to save up for such needs. My suggestion is that everytime you think of buying stuff, think of what you can provide with the children's needs with the money that you're supposed to spend.
@nykalex88 (244)
• Philippines
12 Dec 12
My technique is that I save only ten percent of my net income per month. Saving that amount will not make you feel that you are separating a part of your income. Just forgot it for a while. This technique is effective to me because I am used to it. I don't mind the amount that is deducted to my salary because it is only one-tenth of my net income. Saving bigger portions of your monthly salary will only end up to withdrawing it.
@ltpotter (177)
• United States
12 Dec 12
what I usually do is put it straight in the bank. That way I don't think about or try to spend it. Good idea of saving money.