Money-saving tips?

No money to burn? - Show of hands, people! ;)
@SplitZip (1490)
Portugal
January 7, 2007 12:36pm CST
These days we're all about spending, spending, spending! Do you have any good tips to save money or make it stretch? They can be anything you want, as long as they are NOT ILLEGAL :) Speaking of ILLEGAL, there used to be this "underground" book some guy (Abbie Hoffman) wrote in the 70's, that told you how to make the "system" work for you so you could basically SURVIVE without spending much money or any money at all. This was an american book, and last time I read it, many things seemed like they'd no longer work. But it's an interesting read, if you'd like to, here is an online version: http://www.mindmined.com/public_library/nonfiction/abbie_hoffman_steal_this_book.html
9 people like this
71 responses
• India
7 Jan 07
Money saving can be applied in many ways.but its according to how the person perceives on saving.Tips of money saving changes from person to person but some common things will not change.first we should be aware of our wants and whats our needs are.so you have to carefully distinguish between your wants and needs.Needs are important that includes housing clothings and shelter but wants that you develop should be overcome d.This makes you overlook and think how much you can save for the better.Also when ever you buy a product you first have to try it or products you are aware of its benefits.which will lead to more lifespan to the product.Thus in this way you can adjust to the changing situations.And you will never end up behind as you have money left with you.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
I hear you on the needs and wants :) I have an example, when I was little, many people used cloth diapers for their babies, they'd wash and re-use them over and over. Today, nobody does this, because nobody WANTS to wash stinky diapers =P I'm not sure I follow you on the whole product purchase thing?...
2 people like this
• India
7 Jan 07
when you buying a product it does not means you just looking at reuse and and its lifetime.You can also consider buying the product that are cheaper than the product you already using ,which do the same job.
2 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Oh you mean like "own brands" instead of "name brands"? The problem with that, is that many "own brands" aren't that great, especially in the food department. But then we get stuck on the needs vs. wants again :) Maybe I should start doing that though. Thanks for replying!
1 person likes this
@snowflake5 (1580)
• United States
7 Jan 07
Well, if you drive carefully and don't speed, you can get more miles per galloon. That should save a little on petrol costs.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
I don't drive at all, but it's a good tip I suppose. Though I wonder how much more can you really save. Gas is so expensive right now!
1 person likes this
• Philippines
8 Jan 07
i agree with that. driving really fast cost a lot of gallons.
2 people like this
• Indonesia
8 Jan 07
Reduce the speed to save the petrol
1 person likes this
• India
7 Jan 07
control ur desires.limit ur expenditure.. this the only way to save money...
• Philippines
8 Jan 07
I also agree with you. Saving money seriously should start from within us. In order to save, let us control our desires, we should focus most on our needs not on our wants and be contented to what are availables. Another way, is don't be imitated by the current trends. Acquiring only new things which we really need that will ultimately benefit as most will refrain us to the cost of lavishness.
1 person likes this
@SplitZip (1490)
• Portugal
8 Jan 07
It's not an easy thing to do though. Temptations everywhere! ;) BUY! BUY! BUY!
@Metallion (2231)
• United States
7 Jan 07
Use sites like ebay and restaurant.com to get discount coupons for local restaurants. I save quite a bit that way.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Ah, this tip is probably more useful for american people? (Which I am not.) But I'm sure someone else might find it useful. Thanks.
1 person likes this
8 Jan 07
Eat out less often, sure way of saving money.
1 person likes this
@chocobaby (679)
• Philippines
8 Jan 07
if possible, better not to have a credit card. but if you already have it, better not bring it when you go to shopping malls and supermarkets. it would just make you you spend more and you could end up having enormous debts to pay. just bring some cash thats enough for you to spend for what you need to buy.
3 people like this
@SplitZip (1490)
• Portugal
8 Jan 07
Yes, a lot of people get sucked into the high credit card interest fees. I'm not using credit. If I can't afford it right away, I'm probably better off without it! ;) You know, a lot of stores here let you make purchases in monthly payments without any interests (as long as you pay it all in time, otherwise, I think they send collectors after you to repossess the items?). But I hear in a lot of other countries, the stores charge interests? Is this true?
@LeslieD (59)
• United States
8 Jan 07
Never, ever buy on credit. Credit cards are the evil. Purchase used cars. You can get a great car and pay cash for it and it may only be months old with very little mileage. You can purchase cars like that from showrooms this time of year before the next year's models come out, or also consider purchasing a car from a car rental place. They only use the cars up to a certain mileage and then replace them. When you purchase a car new from the showroom, you will realize up to a 30% drop in the value of the car once you drive it off the lot. It is the same car. The interest you will pay on a 5 year loan is astronomical. It is like purchasing the same car three or four times if you had paid in cash. Bank of America has a deal where if you use your debit card and you purchase something from a vendor and it costs something PLUS change, they will round up your purchase to the next dollar and pull that rounded up number from your account and put the loose change in a savings account for you. Last month, day before payday, we were broke, looked at the bank balance and there was $200+ dollars in the loose change bank account! That made my day. Buy in bulk as much as you can. We have a refrigerator and a full sized freezer and we purchase our meats in bulk and I spend the day re-cutting chops and steaks and packinging them for family sized meals with my save a meal vacuum sealer. You can save many cents per pound this way and wind up with more food for your budget. If I think of more, I will let you know :)
3 people like this
@SplitZip (1490)
• Portugal
8 Jan 07
Buying in bulk can save you money, but I guess it's best for big families? Small families and single people will have a difficult time using up all that food? Interesting thing about that bank. I don't think any banks around here do that. Mine sure doesn't :( Thanks for posting your tips!
@heatherc (398)
• United States
7 Jan 07
I've learned a lot about saving over the last year. My checking and savings accounts are connected online, so when I get paid, I move $100-200 from my checkings account to my savings account. Interest posts on the savings account every 3 months...I'm getting about $5 a month now. And that will only get higher the more that I save. A small thing that I do is put extra change into an old bottle. I'm not sure how much is in it, but there is a lot of silver in there! When it is full, I'm going to take it to my bank and put it in the coin machine, get the cash, move that amount into my savings account online and start over again! If I do that at my own bank, there isn't a fee like there is at grocery stores.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Thanks for your tips! Like I had mentioned above, I end up with a lot of spare change, usually. Sometimes, I don't exactly take it to the bank, I just go into a store where I frequently go to and ask if they wouldn't mind accepting the change. They usually don't, since they need small coins to make the customers' change. I think my life is a bit too wasteful in other areas though. Really need to shape up on this!
1 person likes this
• Philippines
7 Jan 07
less open lights would save you...less opening of the refrigerator wont cost you high electric bills.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Shoot, that reminds me, I have the light and the TV on in the bedroom XP My house is very cold, but this Winter I'm trying to keep the heaters OFF and just wearing more layers of clothes. Utilities are very costly here! Thanks for your reply :)
1 person likes this
• India
7 Jan 07
Some of my money saving tips -- 1)Save at least 15 percent from each of your profit. Suppose you make 1000 bucks in a day then save 150 bucks in some account. 2)Keep a record of your daily expenses. This will help you in finding where you are wasting money. 3)Try investing 10 percent of your savings. Suppose you have $5000 then invest $500. You have to find better places of investing (like mutual funds,insurances,bonds)..i mean where least risk is involved. 4)Investment helps you in saving money from useless taxes you need to pay. 5)Open extra saving accounts either in your name or you child or your wife. Keep putting some buks in it time to time. 6)Don't expend on lavish things like big cars. Buy only that car that fulfills you needs and comfort, don't just buy to show off. Bigger car means bigger expenses and more maintainence expenses 7)Try saving on electricity bills, phone bills and fuel expenses 8)Do not buy with credit cards
@SplitZip (1490)
• Portugal
7 Jan 07
You have some good tips there. I don't really spend money on flashy things, usually, but I have a mild CD/DVD addiction. I always end up spending more money than I should. And because a lot of the CD's are imported, I end up spending even more. Been trying to spend less money, but whenever I have some left, put aside, I start thinking of ways to spend a good portion of it (LOL). Sad, huh? ;) Maybe I should just sell them all. They'd fetch me a nice price, since many of them are limited editions, so I guess in a way they're an investment. But it's so difficult to part with them, I love my music too much :) I think I will try jotting down my daily expenses. That might be a good idea. But I'm also not good with keeping logs of that kind, I keep them on track for the first couple of weeks, then suddenly start skipping it. Thanks for your reply :)
1 person likes this
@Geminigirl (1909)
• United States
7 Jan 07
Hey, thanks for the link to that book. I have heard of it before, but never got to read it. Now I can. One great money saving tip is to shop at Aldi grocery store. They have them in lots of places now. I can spend say $100 there and get a TON of stuff, whereas if I spent it at a regular grocery store, not near as much stuff. If you are vegetarian, that helps, because you save money on meat. Try to use less paper products like paper towels, napkins, etc. Shop at thrift stores. Especially after the Holidays, there are more items there that people have donated that are brand new that they may have received as a gift and did not want. Hope these help!
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Ah, we don't have those stores here. Is it like a discount store? I don't think I can use less paper towels. The amount I use is sinful. But there's always something to wipe! That book has some very funny passages btw. Thanks for posting :)
1 person likes this
7 Jan 07
The best money saving tip that has worked for me is keeping less money in my wallet. Do not keep money in the form of change since the more change you have the more you will spend. Stop moving with your credit card is another option. walk to places close by instead of using the car so that you can save on fuel.
3 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
Maybe you're on to something with that change bit. I sometimes end up with my wallet FULL of small change, and because it's not practical to pay with it, I keep reaching for the bills and getting more change in return! But I do sometimes take all the change and trade it in... But you know, with the Euro that we have here, you don't get bills with a value lower than 5. The rest, it's all coins (1, 2, .50, .20, .10, .5, .1)!
2 people like this
• United States
8 Jan 07
What I do to save money is I use coupons when I go shopping. I also wait until things go on sale. This way, I get the sale price PLUS money off from the coupons. It may not seem like much, but if you can save a few dollars this way, it does help.
3 people like this
@Rachcaa (163)
7 Jan 07
They say by washing at 30 degrees you save up to 10% on your energy bill!
2 people like this
@SplitZip (1490)
• Portugal
7 Jan 07
I do that. I also press the little "half load" button when the machine isn't full :)
1 person likes this
• Canada
8 Jan 07
You don't even need to wash in warm water, cold water does the same job! Huge saving on hydro bills. I also hand wash my dishes instead of using the dishwasher!
8 Jan 07
they actually say that the dishwasher is more energy efficient than handwashing dishes, that is if you use hot water when hand washing, you also use less water with the dishwasher.
1 person likes this
• United States
8 Jan 07
I like the old proverb: The best way to double your money is to fold it in half and put it back in your pocket.
2 people like this
@SplitZip (1490)
• Portugal
8 Jan 07
Haha, nice one. Had never heard it before :)
@bongsu (24)
• Malaysia
8 Jan 07
One of tips that I practice is to keep the balance of all syillings at the end the day and don't touch until end of the year or during emergency only. These help saving some money without you know about it. Another tip is to write all groceries you want to buy before go to shop and stick to it. Don't buy unnecessary things.
@SplitZip (1490)
• Portugal
8 Jan 07
The last tip is important, I think. You know how they always put all these "trinkets" near the supermarket check-outs, so you end up making "impulse" purchases? They're tricky b*stards, aren't they? =o Thanks for posting!
• United States
8 Jan 07
Well my money saving tips are taking a small amount of bleach to majority of water put it in a empty dishwashing liquid bottle and squirt and wipe down the sinks.I also use part vinegar,a drop of dishwashing liquid and some water in a squirt bottle and use as an all purpose cleaner and mixing this way you will not have to buy cleanser for a very long time.
2 people like this
@SplitZip (1490)
• Portugal
8 Jan 07
I suppose watering the washing liquid a bit could also work? It's something to keep in mind. Thanks for posting :)
@onlyme123 (124)
• United States
8 Jan 07
The next time you feel like buying that soda or coffee, or that bag of chips or snack, stuff that money into an empty pocket instead. When you get home, put that money into a jar. Do that for a couple of weeks and at the end of 2 weeks, count how much money you have in there. You'd be surprised! Imagine how much money you'll save like that after a month, or a year. It's all about taking little manageable steps in a savings program. This is definitely doable.
@SplitZip (1490)
• Portugal
8 Jan 07
This is good advice, but sometimes you have to indulge yourself a little bit, don't you agree? :)
@rk0337 (14)
• India
7 Jan 07
all u can do is walk instead of drivin vehicle that would save ur petrol bills n reduce ur obesity n in a way ur medical bills
2 people like this
@SplitZip (1490)
• Portugal
8 Jan 07
Most places around me aren't really at walking distance. But I don't drive at all, so I use the bus/subway instead :)
@wwjdn2007 (231)
• United States
7 Jan 07
Make sure you marry someone with a job, good credit, and who have good spending habits.
@SplitZip (1490)
• Portugal
7 Jan 07
I've been given this advice before! Hehe. Thanks for posting :)
1 person likes this
@yoleis27 (557)
• Israel
7 Jan 07
I just spend money when I realllllly want something and it doesnt happen to often. also if something costs a large amount of money I'm saying to myself that whem I'll be a programmer i'll earn lots of money and then i'll buy everything I want XD If you want to save your money just put it into saving program.. you can't break it to often so youll have to save it! Also I recommend you to read the book "Rich dad Poor dad" bt robert kiyosaki :P Great book about making money!
@SplitZip (1490)
• Portugal
7 Jan 07
You mean like a savings account? Sorry if I misunderstood your point. But I meant saving money on every day things that everyone does (eating, shopping, transportation, phone bills, etc.). How to save money doing them, some how?
1 person likes this