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How are you saving money?
- Thread starter brn2ski00
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got given a certain sum of money from my Grandmother's Estate and part of it is in the market AFI shares. coming up again! when up a bit during 2007 but its dropped a little because of the credit crisis. most of this will go towards my uni fees and property in the future...
i also only spend about half of the weekly earnings from my part time job and save the other half.
also saving pocket change also works well
good for parking
i also only spend about half of the weekly earnings from my part time job and save the other half.
also saving pocket change also works well
good for parking Drive not faster then 60MPH, prepare own meals, bargain shopping, installed solar gable and roof vents, etc.
Loooong time ago, we've setup an automatic bank account transfer where money is being transfered five times a month from the checking into the savings account. This was by far the best way to save money. Once a certain sum is reached, we invest in one or more CD's and keep rotating them on a three, six, nine and twelve month schedule.
Loooong time ago, we've setup an automatic bank account transfer where money is being transfered five times a month from the checking into the savings account. This was by far the best way to save money. Once a certain sum is reached, we invest in one or more CD's and keep rotating them on a three, six, nine and twelve month schedule.
Yeah...living approx a half mile from work is nice. (especially after working an hour from home for a year).
Other things that work.
When you pay off a loan...instead of squandering the cash for something personal, put it towards other loans. It will still end up feeling like you have extra cash at the end of the month.
Try not to do small loads of laundry, or if your used to just washing your clothes alone...try to double up and combine loads with your spouse or roommate.
(However...I wouldn't suggest opening windows just yet, esp in Southern U.S. right now, the pollen is awful. I have a yellowish tinge to my white car right now. And I washed it two days ago. *blech*)
Gas...unless your car specifically calls for it, bump yourself down from premium to mid-grade unless your already using regular (at least until the gas prices break) you can always treat yourself to a premium tank every once in a while which is usually good anyway.
And...Yes, eating in is not only nice on the wallet...but normally healthier for you considering you have more control on the seasoning and extras that go into your meals.
Yes, but how do you decide what is comfortable for your budget...did you take out a percentage of what was available in the account, or a set rate that is to be removed?
Other things that work.
When you pay off a loan...instead of squandering the cash for something personal, put it towards other loans. It will still end up feeling like you have extra cash at the end of the month.
Try not to do small loads of laundry, or if your used to just washing your clothes alone...try to double up and combine loads with your spouse or roommate.
(However...I wouldn't suggest opening windows just yet, esp in Southern U.S. right now, the pollen is awful. I have a yellowish tinge to my white car right now. And I washed it two days ago. *blech*)
Gas...unless your car specifically calls for it, bump yourself down from premium to mid-grade unless your already using regular (at least until the gas prices break) you can always treat yourself to a premium tank every once in a while which is usually good anyway.
And...Yes, eating in is not only nice on the wallet...but normally healthier for you considering you have more control on the seasoning and extras that go into your meals.
Yes, but how do you decide what is comfortable for your budget...did you take out a percentage of what was available in the account, or a set rate that is to be removed?
I agree, gas is a huge issue and I just read an article that said going 10 MPH over the speed limit is like spending an extra .56 on gas per gallon!
Out of control
Regardless of how much you make, you must live within your means.
Budgets usually don't work after a while.
I used to help folks with finances. And one thing that I did learn, is that as our wages go up, the amount of money spent goes up as well.
So while saving may be the noble way of doing it, but I have found the reverse way is better for me. Just take 10-25% off the top and put it into savings and investments. Never touch this money for any reason. Then live with what is left over. Simple. And it works.
P.S. Don't try to do this from 0% to 25% all at once. Start out small and increase regularly.
Budgets usually don't work after a while.
I used to help folks with finances. And one thing that I did learn, is that as our wages go up, the amount of money spent goes up as well.
So while saving may be the noble way of doing it, but I have found the reverse way is better for me. Just take 10-25% off the top and put it into savings and investments. Never touch this money for any reason. Then live with what is left over. Simple. And it works.
P.S. Don't try to do this from 0% to 25% all at once. Start out small and increase regularly.
My car died about a month ago, and insteasd of running out and getting a new one, I'm carpooling with my wife. Luckily, we work very similar schedules and work within 5 miles from each other or else it wouldn't work. The money we would be spending on gas, insurance and another car is going to pay of our credit cards. Once we get them payed off, we may break down and get the new (to me) car.
So far so good. I never thought it would work so well. If you can get away with it, having one family car is saving us a ton of money!
So far so good. I never thought it would work so well. If you can get away with it, having one family car is saving us a ton of money!
Well, we bought passes this year, so we dropped that cash 6 months back. However, driving to my parent's condo in VT is the killer.
Our savings account is a set rate per transaction (5 x $X amount) and is adjusted annually after our raises kick in. We also do not carry any credit debt but do have a monthly mortgage and one car payment. The second car is provided to my wife by her employer.
Also, if you have a house you pay property taxes. The easiest way I found to do that, provided you have the money, is to put an estimated amount of next years taxes into a high-yield savings account for nine to 12 months, earn interest on it until you pay your annual tax. Before this, we used to have a separate savings account in which we put an automated monthly dollar amount into, calculated easily: Estimated annual property tax / 12 months = monthly dollar amount.
1. I buy all my clothes, except undergarments, from Goodwill or Salvation Army.
2. We only eat out at restaurants once a week or less.
3. I bring my lunch to work.
4. If it is within 2 miles, I walk. If it isn't, I take the bus.
5. Within 5 miles, I bike.
6. Brita pitcher and fill a nalgene instead of buying bottled water
7. I buy used textbooks
8. I eat lots of rice and beans (seriously, I love it!)
9. I use my electronics until they die. Then, I try to fix them.
10. I go the library or take hikes instead of seeing movies, going to bars, etc.
11. I invest what I don't need.
12. I allocate 55-60% of what I make as "money I live on". The rest pays the debts for school, etc.
2. We only eat out at restaurants once a week or less.
3. I bring my lunch to work.
4. If it is within 2 miles, I walk. If it isn't, I take the bus.
5. Within 5 miles, I bike.
6. Brita pitcher and fill a nalgene instead of buying bottled water
7. I buy used textbooks
8. I eat lots of rice and beans (seriously, I love it!)
9. I use my electronics until they die. Then, I try to fix them.
10. I go the library or take hikes instead of seeing movies, going to bars, etc.
11. I invest what I don't need.
12. I allocate 55-60% of what I make as "money I live on". The rest pays the debts for school, etc.
Im saving money by not buying piles of crappy gadgets I will never use
I think we are all guilty of that!
I live in Germany
but get paid in dollars, so to me "inflation" is going on 15% per annum...
I basically don't spend very much at all. No cell phone, work insane hours so don't go out a lot, and I try, whenever possible, to cook at home.
I also only live 5k from work, so come sun or rain or snow, I can get there sans automobile, and that has saved me a TON of money.
I don't even know how much gas costs because I don't have to buy
but get paid in dollars, so to me "inflation" is going on 15% per annum...
I basically don't spend very much at all. No cell phone, work insane hours so don't go out a lot, and I try, whenever possible, to cook at home.
I also only live 5k from work, so come sun or rain or snow, I can get there sans automobile, and that has saved me a TON of money.
I don't even know how much gas costs because I don't have to buy
Half?? That's impressive. I tried saving one-tenth of my paycheck but I felt that it was a waste when I could have been living more with it.
Right now, my priorities aren't in saving but rather in paying the rent (which have skyrocketed in Sydney) and making the most of each day.
For me I have a automatic transfer set up on my bank account. Every Friday it transfers the money from checking to savings. I choose Friday because I am paid weekly and that is always after my pay check is deposited.
As odd as it sounds I charge everything to a credit card that I pay off every month. Having the sticker shock at the end of the month really helps cut down on the nickel and dime stuff that adds up. Plus online I can see where the money is going by category and that helps out. Things like grocery and Gas I pay no attention to but everything else well that can get some sticker shock in it.
Take my lunch to work really helps out. It cost 1/2 or less than what it cost me to eat out at work.
Do not go out for groceries when I am hungry.
Try to limit those want buys. I found a good way of doing this is giving my self like 20-30 bucks a week to spend on what ever I want and not to account for it. Save that money for bigger items.
It is the little things that really get you. Big purchases seem to be easier to budget for.
On the first Friday of every month my goal is to see my checking account be larger than the month before. It seems to be a good way for me to track my cost month to month. As an added bonus my budgeting is based on 4 weeks a month cycle. So that leaves me 5 pay checks a year completely unaccounted for so that tends to be straight savings.
As odd as it sounds I charge everything to a credit card that I pay off every month. Having the sticker shock at the end of the month really helps cut down on the nickel and dime stuff that adds up. Plus online I can see where the money is going by category and that helps out. Things like grocery and Gas I pay no attention to but everything else well that can get some sticker shock in it.
Take my lunch to work really helps out. It cost 1/2 or less than what it cost me to eat out at work.
Do not go out for groceries when I am hungry.
Try to limit those want buys. I found a good way of doing this is giving my self like 20-30 bucks a week to spend on what ever I want and not to account for it. Save that money for bigger items.
It is the little things that really get you. Big purchases seem to be easier to budget for.
On the first Friday of every month my goal is to see my checking account be larger than the month before. It seems to be a good way for me to track my cost month to month. As an added bonus my budgeting is based on 4 weeks a month cycle. So that leaves me 5 pay checks a year completely unaccounted for so that tends to be straight savings.
False. Unless your car recomends or requires it putting any higher grad that what it calls for is a waste of money no matter what the price of gas is.
Putting the premium in your take will screw things up for you engine not help it out because it cause the computer change setting and it takes it a while to adjust back.