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What is your VERY best tip??

I am wanting to start saving more money, what is YOUR best money saving tip??

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Anonymous

Asked by Anonymous at 1:31 PM on Apr. 22, 2010 in Money & Work

Answers (9)
  • Any CHANGE you have (coins) at the end of the day put it in a jar of some sort. Every day do this..........you'd be surprised how quickly it will add up. And it's something small and insignificant.
    TheDiva320

    Answer by TheDiva320 at 1:36 PM on Apr. 22, 2010

  • Use cash ONLY! If you do NOT use credit (money you don't have) you can't go into debt. Create a budget and STICK TO IT.

    My #1 piece of advice would be this... Buy a book... Dave Ramsey's "Total Money Makeover" It will completely change the way you think about money.
    RutterMama

    Answer by RutterMama at 1:42 PM on Apr. 22, 2010

  • If you go to Oprah's site she has a money make over thingy you can do too.
    TheDiva320

    Answer by TheDiva320 at 1:45 PM on Apr. 22, 2010

  • Have a common household goal and put it in writing. Go over everything monthly with your family. Get excited about saving. Look at one thing you spend on daily/weekly and eliminate it and start putting that $ into a savings account. Things like ATM fees, bottled water and coffee adds up. Do the math on a daily bottle of water for one year. Imagine what you could buy with that or how much that could amount to at retirement time! :)

    Make saving FUN!! :)
    love2snorkel70

    Answer by love2snorkel70 at 1:49 PM on Apr. 22, 2010

  • We always pay our self first. Which means money goes into savings account first before we pay anything. Then we pay the bills. It works for us. We do not carry any credit card balance. If you can only do a few dollars then do it. You will be surprised as to how it ads up. We us ingdirect.com it has the best interest rates. Good luck!
    voni681

    Answer by voni681 at 2:35 PM on Apr. 22, 2010

  • look at all your bills for hidden fees. you can usually reduce your cable and phone bills by just a phone call.

    I totally agree with getting the Dave ramsey total money makeover...buy the CDs..it is an awesome program!!!
    ria7

    Answer by ria7 at 3:39 PM on Apr. 22, 2010

  • -If you have a credit card, log how much goes on it each month and pay that amount off each month to reduce interest. Or just don't use credit cards on a regular basis ;)
    -Look at what you buy and see if you can either get it cheaper elsewhere or cut it out entirely, ie soda, fast food etc- you can take water to drink and you can pack a lunch, saving anywhere from 5-10 dollars for every day you do that. If you do that 4 days a week, you could save up to $2,080 in a year- 4 days*52 weeks=208 days; 208 days*$10 per day=$2,080.
    -Cut back on things on cable, internet, cell phones you don't need or don't use- like texting on the phone if you aren't a texter.
    preacherskid

    Answer by preacherskid at 4:12 PM on Apr. 22, 2010

  • Set a budget based on your net income. Set a goal for every bill and try to get rid of the bills you can live without. Things like cabel, cellphone plans. etc... If you have any debt you could opt to save half and pay off hald each month. If you have no debt then the goal is to see what you can reasonably save each month and just do it. It will add up over the years if you continue to do it. With things you know you splurge on set a budget on how much you can spend on entertianment and never go over that.
    SylviaNCali

    Answer by SylviaNCali at 5:12 PM on Apr. 22, 2010

  • when setting your budget, underestimate your earnings and overestimate your expenses. DH brings home between 650-900 a wk depending on overtime, but I budget it at 600. Our gas bill runs about 150 but I budget 200, etc. Also, we are on a cash only system - I have envelopes marked for each bill and the due date, then the beginning of the month I figure out how many paychecks he'll get and divvy the bills up so that we don't have a 750 mortgage payment coming out of one check.

    also, the spare change idea is awesome! I started doing this 6 weeks ago, we have almost 100 bucks in rolled coin for Christmas.

    I lost my job in February and unemployment was denied, but even w/out me bringing in 2000 / month we are somehow better off financially. go figure.
    plylerjones

    Answer by plylerjones at 6:44 AM on Apr. 23, 2010

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