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What is the best finanacial/budget tip you would give someone.

I think the best thing I do to save money is in the shopping area. I shop Aldi once a month for about $100.00 and then hit the local produce stand once a week. I tried couponing but ended up buying a lot of processed foods. For clothes I shop resale and clearance racks. I don't buy a lot of clothes either, it seems like some people have tons f clothes they never wear. For shampoo etc I wait until there is really good deal and buy a bunch. I only do this about twice a year. I would like to get even better with money so would love to hear other peoples ideas.

Answer Question
 
MACY7108

Asked by MACY7108 at 11:40 AM on Aug. 7, 2010 in Money & Work

Level 4 (32 Credits)
Answers (13)
  • Live within your means, don't try to keep up with the Jone's. Know where your money is going and how much you have to spend on extras. If and when you can open a savings account and make reasonably and regular deposits and don't dip in to it, unless it is a real diseaster and you need it! Sounds to me like you are doing just fine.
    QandA

    Answer by QandA at 11:43 AM on Aug. 7, 2010

  • Always maintain 2 viable incomes-
    Sisteract

    Answer by Sisteract at 11:47 AM on Aug. 7, 2010

  • Stop eating out! Do not buy any soda or soft drinks. That's worked for me!! LOL!
    m-avi

    Answer by m-avi at 12:09 PM on Aug. 7, 2010

  • Live slightly below your means.
    FootballMom85

    Answer by FootballMom85 at 12:28 PM on Aug. 7, 2010

  • Try reselling items you no longer need. Also, some items go on sale during certain times of the year. Storage containers, for example, go on sale after Christmas. Take advantage of seasonal sales or end of season sales, even if the items need to go in storage for a while. Pay off your credit card bills in full, never leave a balance.
    HotMama330

    Answer by HotMama330 at 1:35 PM on Aug. 7, 2010

  • Save what you can for an emergency fund. Most advisors say 6-8 months for an emergency fund. That is a big goal to achieve, but try to save what you can and don't touch it. Have it in a separate savings account so you are not tempted to use it. It might seem unnecessary but I wish we had one. Husband was just laid off so the pressure is great to find another job.
    elizabr

    Answer by elizabr at 1:46 PM on Aug. 7, 2010

  • Best advice__

    1. Keep only ONE credit card...preferably an American Express....you have to pay off the balance each month and it keeps you from racking up too much debt!

    2. ALWAYS shop with coupons or when there are great sales and discounts--NEVER pay full price! That goes for groceries, clothing and shoes, make-up and accessories, car maintenance, etc.

    3. Join a Warehouse Shopping Club like BJ's Wholesale or Sam's Club....you can save thousands of dollars if you shop smart and know your comparison prices.
    LoriKeet

    Answer by LoriKeet at 5:12 PM on Aug. 7, 2010

  • Dave Ramsey :)
    Erica_Smerica

    Answer by Erica_Smerica at 6:49 PM on Aug. 7, 2010

  • Any extra money you may get, DON'T BLOW it on Crap! Put it in savings, buy stocks, spend wisely!

    lapcounter

    Answer by lapcounter at 8:52 PM on Aug. 7, 2010

  • Watch the $1 and $2 purchases. They can add up faster than you realize. I once heard a money-guru on talk radio pointing out that most people don't go into $15,000 debt $7000 purchase followed by a $8000 purchase. It usually happens a little at a a time with innocent-looking purchases, buying cheap things that we don't need, but get just because they are inexpensive, or paying a little more for things that we might need, but could pay less for if we wait or purchase elsewhere, etc.

    jsbenkert

    Answer by jsbenkert at 9:33 PM on Aug. 7, 2010

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