Money Saving Tips # 1

@ossie16d (11821)
Australia
February 20, 2007 6:17am CST
Money Saving Tips # 1 The key to saving, or spending less, is to know what triggers impulse buying. Keep accurate spending records and list all outgoings to be paid, i.e. mortgage, phone etc, food, books, entertainment and so on. Keep this record for a few months initially as this will allow you to see where you are spending your money and give you an idea of those things you can change. You might find that after a couple of months it has become a good habit to keep these records, so you can track where your money goes. It will only work if you include everything spent, irrespective of what you spent the money on. UTILITIES: Heating in winter. Turn down the heat and wearing slippers or socks and a sweater. This way you will be just as warm but more importantly you will save a lot of money as your heating bill will be a lot less. Turn off lights etc when you aren’t in the room, turn off or down the heat in areas of the house that you aren’t in during the day/night. Install energy efficient light globes as the old ones go, replace them with these. Although a little more expensive initially, they last a lot longer plus use less power. If your saucepans/pots have a heavy base, turn the heat off just before the meal is cooked as the retained heat will finish the cooking process and you will save some money on power bills. SHOPPING: Plan your meals, so you can buy everything you need in the one trip. Try to do all your shopping in one trip instead of running out a few times a week to pick up this and that, because in the end you will spend a lot more. Another good way to save money is to make lists, i.e. grocery and shopping lists. This helps stop impulse buying and saves on fuel if you can get everything done in one day. Make your grocery lists from the local store advertisements and check to make sure you have coupons for items on sale and anything else on your list. This way you don't forget and leave the coupons at home. Eat before going shopping, so you will not impulse buy just because you are hungry. Take your lunch to work instead of buying. With staple foods like toothpaste, hand soap, shampoo, non perishable foods you use often etc look into buying in bulk and where possible use coupons! However, don’t buy something you don’t need just because you have a coupon. If there is a “glut” of food items that you use regularly and the price is good plus the budget will extend, buy extra and freeze. This will save you buying these items when they are at normal price or out of season. Bread, milk, yoghurt and many other things will all keep well in the freezer and taste fresh when you take them out to use, so again if they are on special or cheap get a little more to freeze for a later date. ENTERTAINMENT: Instead of having a night out, have a night in and invite your friends around. Hire a DVD to watch, play cards and you can take in it turns to go to each other’s house for a night. This way you will still enjoy the company of your friends plus you will all save some money. If you have Pay/Cable Television with movie channels, consider how often you watch the movies, because you might find it works out cheaper to hire a DAD when you want a certain movie rather than paying for ones that you never watch. I hope that these help some people and more tips will be coming shortly, but on other areas where you can make savings. :) Can anyone add any more to this particular list.
7 people like this
23 responses
@rainbow (6761)
20 Feb 07
Wow Ossie, what a fantastic list! If you want to see a new film at the cimena wait for the DVD ok so you don't get to see it immediately but in a couple on months as the n the whole family can see it over and over again. If you can bare to wait an extra couple of months DVD prices tend to fall rapidly. Buy cotton disclothes rather than disposable paper ones, you can wash and reuse them over and over again, environmentally friendly and save money. Use a sweeping brush on your wooden floors leaving the hoovering for longer and saving on the electic.
2 people like this
@ossie16d (11821)
• Australia
21 Feb 07
Those extras are good rainbow, and it seems that we all have a few things that we do to save a little bit of money, when and where we can. I agree with the movies and waiting for the DVD, and it lucky that I am not one of the impatient ones. LOL Actually have some more tips to post, but if I had put them in this time, it would have been so long it might have put some people off a bit. Will be doing the rest of them soon, so keep an eye out for them. Thanks for your contribution to this discussion rainbow. :)
@Bunny2 (2102)
• Australia
2 Mar 07
An excellent list of things to do, Ossie. I'm glad to say I already do a lot of those things. Also: I buy generic products if they're as good as the namd label (some definitely are not!) I go to a fruit shop where the fruit and veggies are cheaper than the supermarket. But I have yet to find a butcher which is cheaper and has decent quality meat. I go through the catalogues that come in over the weekend and compare supermarket porices. I'm lucky that I have 4 supermarkets in one local shopping centre (mall) and two in the other. That covers almost all the major ones. I mark what I wnt from each supermarket and plan my trips around them. If I can, I'll stock up on cheap articles that are non-perishable. Thanks for this post. It's a keeper :)
1 person likes this
@ossie16d (11821)
• Australia
4 Mar 07
Glad to be of some help Bunny and thanks for the additions which are valuable. I like the idea of marking the catalogues because that is the way to do it. We don't get them delivered here in the bush but when we go shopping I collect them all, sit down for a while and mark what I want from where. I agree about the butcher, good ones that are also cheap are hard to find but if one of the supermarkets has a really good special on something, I will buy up heaps and freeze it. We are lucky that Barrters are on our way when we go shopping and I often get chicken from them. At the end of the day they have really good knock-down prices, so sometimes cannot put anything in much in the freezer because it is full of chicken products. :)
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@ossie16d (11821)
• Australia
10 Mar 07
You have best response for this discussion Bunny, and thank you for your contribution. :)
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@Bunny2 (2102)
• Australia
25 Mar 07
Hi Ossie, I don't know what supermarkets you have nearby, but you can access the catalogues with the specials online. I find checking what is on special saves me some time and money. Thanks for marking my reply as the best response :)
@pinklilly (3443)
• Australia
21 Feb 07
These a Excellent Tips. I already abide by a few of them I am always Money concious although sometimes I splerge a bit more than I should. I am always looking for new ideas and helpful hints to help me further. I am trying to save but sometimes something important will come up and I will have to use the saved money and then it's not so easily put back ;(... I Have this large Jar that we put our left over Gold change into at the end of the day or week and that is our saving towards our Trip at the end of the year... The kids get the silver coins...
1 person likes this
@ossie16d (11821)
• Australia
21 Feb 07
Do hope that some of these tips are useful for you pinklilly and yes there are times when something does come up that make us delve into our savings. Just do the best you can, use these tips and you will find that it will help just a little. Thanks for reading and responding pinklilly. :)
@oldboy46 (2129)
• Australia
10 Apr 07
This is a good list .... and add to that to check out the specials on the internet before going shopping. That way you will know which store to shop at, if you live somewhere that has more than one large supermarket that is, for the items you need and are on special that week. As you know Ossie we grow most of our own fruit and vegetables ... then we can freeze the excess so we always have home grown stuff. There are many ways of doing this ... even cooking up a meal and freezing it. we will cook a large meal and then freeze it into separate portions for other days. Another one is to open the soap when you buy it, take it out of the packet and let the air get to it ... this sort of hardens the soap but it does last a lot longer that way. Use the recommended amount of detergent too ... the clothes get just as clean and you are not wasting money by using too much.
@ossie16d (11821)
• Australia
12 Apr 07
Thanks for the additional one about the soap oldboy, and I did know that one but it is good to have it down where people can read. And yes, it does work I know.
@feralwoman (2199)
• Australia
21 Feb 07
I've got a tip - I don't like going to the movies, so I wait for the film i'm interested in to come out on the TV, then i'll record it! Is that stingy or what! Great advice you have there - sticking to it is the problem for me. As for writing down what you spend etc, forget it - I haven't done my company accounts since I broke my wrist 6 months ago. Now i'm so far behind I don't know where to start!! lol
@ossie16d (11821)
• Australia
21 Feb 07
I like the one about the film, and it is a smart way to save even more money plus you still have it to see all over again if you really enjoy it. Now with regard to the company accounts, we have a friend who had not done his tax returns for 7 years, but as the tax office owed him money it was not a hassle. This man suffers from depression, but eventually we got him to do the returns, even spending days at his place just sorting things into years for him. Well, eventually he got them all done and got a very nice refund from the tax office. Saw him a few weeks ago and asked about things etc. Mentioned about his tax and he then admitted he hadn't done them since that last lot 5 years ago. So now we are going there and I will help him for a few hours on Sunday and Monday. LOL Thanks for reading and responding to this discussion feralwoman. :)
@kathy77 (7486)
• Australia
20 Feb 07
Hi Ossie, yes you are right about saving money you have to first know what triggers off the impulse to start spending your money, and keep a record of everything you do with your money therefore you know where you are spending it so you can keep control over it. It is always best to buy in bulk if you can afford to do it that way. As you know I do a lot of these things and find them very beneficial.
1 person likes this
@ossie16d (11821)
• Australia
21 Feb 07
You are right Kathy that buying in bulk is a great way to do things. When it is just my husband and myself, we don't tend to do it as much because we do not go through the same volumes but when our son is home it is a very different story. I think that living in the country teaches us how to do things. LOL Thanks for reading and responding Kathy. :)
@ossie16d (11821)
• Australia
21 Feb 07
Yes roryrockerchic, if you want that car then you will have to settle down and start to save some money. It might not be easy to start, which is why I suggest making a list of everything that you spend your money on. :)
• Philippines
20 Feb 07
Hi Ossie! I just realize that I really need to save. I want to buy a car but I spend my money on nonsense things. Thanks for the tips!
1 person likes this
@lingli_78 (12822)
• Australia
21 Feb 07
well, for me i always compare the price of the groceries and so far i managed to find the cheapest price... it saves me quite a bit of money... buy the things that can last long in bulks when they are half price such as tissue paper, toilet rolls, detergent, softener, etc... one last thing, i always fill the fuel of my car when the price is the lowest which is always on the same day during the week... i save quite a bit of money by doing these things... of course these are the addition of all the things that you had listed above... thanks for sharing the tips with us...
@ossie16d (11821)
• Australia
21 Feb 07
Yes it is good to compare prices and get the cheapest as long as the quality doesn't suffer. Most places have a certain day (or 2) in the week when the fuel is cheaper, so that is the time to refuel the car. Thanks for sharing your additional money saving hints with us. :)
@deebomb (15304)
• United States
20 Feb 07
Thanks ossie for reminding me of these savings tips.. I have been aware of most of them but have forgatten to keep implamenting them.Onre that I have is to cook from scratch, staying away from those prepackaged foods like Banquit homestyle bakes. Sure the things that go into a stew for example can cost more at first bur you can make enough to freeze and serve later.
@ossie16d (11821)
• Australia
21 Feb 07
Hi deebomb and yes you are right in that making something like an extra large stew and then freezing the extra for another day. It doesn't take any more power to cook the larger amount and reheating doesn't take as much time, or power, as cooking all anew. Thanks for reading, contributing the extra and responding to this discussion deebomb. :)
@Shaun72 (15959)
• Palatka, Florida
20 Feb 07
This is a good article with great saving ides. Like renting movies and going grocery shopping all at once. I always do for myself I sometimes have to write down what all I need but I get everything I need.
@ossie16d (11821)
• Australia
21 Feb 07
Good to read that you already done these things, and know the savings you can make as a result Shaun. Thanks for reading and responding to this discussion. :)
@34momma (13882)
• United States
20 Feb 07
this is so totally awsome! i love it. and it is so helpful to. some of the things i do already so i am glad to know that i am saving myself some money. so things i will start doing ASAP. again thanks
@ossie16d (11821)
• Australia
21 Feb 07
Good to read that you already do some of these things, and that there are also hints here that you can take onboard for further savings. I actually have some more, but it would have made the post way too long to put them with this lot, but I will be posting them soon. Thanks for reading and responding to this discussion. :)
@sigma77 (5383)
• United States
20 Feb 07
Thanks for the list of money savers. I have practiced most of these at one time or another. I am good at sticking to my shopping lists. I rarely buy things on impulse. Many of those impulse items are not really needed, add to the clutter around the house, used a few times, soon forgotten and end up in the garbage or in a garage sale. With the cable, I find less to watch and prefer watching my own movies more often than what is on the movie channels.
1 person likes this
@ossie16d (11821)
• Australia
21 Feb 07
Great to read that you already do many of these things sigma and so you will be aware just how much you can save, which over a year certainly mounts up. Thanks for reading and responding to this discussion. :)
20 Feb 07
Hey ossie16d, A very nice guide here and alot of effort which as gone into it. Having said that i personally can't add to it, although i think it's good solid advice which should be listened to. =) I normally put money aside for many different things. as well trying to stick to half these points you made. Nice work here! ~Joey
1 person likes this
@ossie16d (11821)
• Australia
21 Feb 07
It is good to read that you are trying to put money aside for various things Joey, and with time you will get better at it too. Thanks for reading and responding to this discussion. :)
@agfarm (930)
• United States
21 Feb 07
Your Ideas are very good. I actually would like to add one small thing. I have a basket ( old easter basket ) in the kitchen and when ever I go out any where and buy petrol , groceries , even just a pack of chewing gum....I put all of those receipts in the Basket immediately when I return home.At the end of the week I pull out those receipts and copy them into a ledger file ( on the Computer) So I can also keep a close eye on the spending.
@ossie16d (11821)
• Australia
21 Feb 07
Putting all the receipts together and then putting the expenses onto the computer is a great idea agfarm and of course it is all there to check whenever you want to. Thanks for sharing that additional tip with us. :)
• United States
28 Feb 07
Just wanted to add to your entertaiment savings tips. I wait for Blockbuster to have a sale on their used DVDs. When they get to 4 for $20, I buy some, watch them and then resell them on Amazon Marketplace. Some go for less than I paid for them and some go for more. I always come out ahead so far and I get to see the movies. It's a win-win and definitely cheaper than going to the theater or paying to rent.
@ossie16d (11821)
• Australia
4 Mar 07
What a great addition you have given us too zingaresca and the fact that you still make some money after seeing the movie of your own choice. A profit would make the movie even more enjoyable I should think. Thank you very much for your contribution to this discussion. :)
@alienstar (5142)
• India
21 Feb 07
You have listed out nice tips on money saving and al are really nice way's of money saving but it really looks nice on paper and do you think it is easy to implement all things you have mentioned over here? i don't think you can also implement all those you have listed over here as money management is really tough for anyone and some tips one can really take from your list for sure...
@ossie16d (11821)
• Australia
21 Feb 07
Yes it is possible to implement all of these things alienstar, because this is just what I have done and certainly it took me a while to get used to doing a few of them, but we did and do manage. It takes practice of course, but then any changes we make do take time and regular usage to get into the new habits.
@denden (802)
• Philippines
21 Feb 07
thanks for the tips for money saving. i know it is effective. and i just some tips also on how to budget my allowance because im a student here. thanks in advance..
@ossie16d (11821)
• Australia
21 Feb 07
That will be hard for you being a student and on an allowance, which does make it more important that you do keep a budget, writing down everything that you spend so you can see where the money goes. Find out what time of the day the supermarkets for example reduce the price of their bread and things like that. That is the time when you do your grocery shopping, because often things can be very cheap. Good luck to you with your budgeting and check back here for more suggestions from others on ways to save money. :)
@Starline (681)
• United States
21 Feb 07
I think that this is a really good post! My ideas for saving money is to try to download movies instead of going to the cinema. Also, I go to the library and borrow books instead of buying. Libraries are a true blessing, I feel rich being able to bring home 20 new books a week, even if it's just for looking at pictures!
@ossie16d (11821)
• Australia
21 Feb 07
They are great ideas although I have never downloaded a movie but it sounds like the idea way to go. Yes, we too use the library for books as it is cheaper than buying them for certain. Thanks for sharing your tips with us for saving more money. :)
• Turkey
21 Feb 07
You have some great tips there Ossie, I already do most of them, but heres a couple of my own, Turn off the standby lights on your TV, DVD, Video etc it may seem annoying when you forget to switch them back on when you sit down, but think of the electric you will be saving (it all adds up). Also I use old T-Shirts and shirts cut up for dusting and cleaning around the house instead off buying the cloth or disposable ones.
@ossie16d (11821)
• Australia
21 Feb 07
Yes turning off the standby on all electrical appliances does save a lot of money over the year I agree. Some people will not do it of course, but if they did it for even one cycle of their power bill, they would realise the amount they could save. Thanks for contributing the extra savings nglanfield. :)
@sherred (123)
• Philippines
21 Feb 07
at least you can add there is to have a tithes... You know God will bless you with tithes... Because its useless even if you have saving then you dont give back to God what you borrowed tithes is 10% of what you earn it no big deal... If you do this God will bless you...
@ossie16d (11821)
• Australia
21 Feb 07
That might be your opinion, and possibly others too, but this is an international forum, with many different cultures and creeds here. Not all of the members here believe in tithes and I do not believe it is appropriate that I suggest such a thing to anyone, regardless of their faith or beliefs. A tithe is a personal decision, and I prefer to leave it that way. For some people giving 10% of what they earn to God is a big deal. :) In addition, that is spending money, regardless of what you say about being blessed by God, and this discussion is about saving money.
• India
21 Feb 07
hello . want to save money . but i think that u gives some tips of saving money,here u can save money but it is also wastage of time . BY these tips u r saving money but on the cost of time . so i think you have to write on topic HOW CAN WE EARN EXTRA MONEY IN REMAING TIME.
@ossie16d (11821)
• Australia
21 Feb 07
I am not sure what you mean by all of this, but this discussion is about ways to save money and not how to make money. I will accept that you are new but you do understand English, so please either read in full my discussions or do not bother responding to them in future.