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How are you saving money this year?

I am paying the balances on my accounts and transferring balances to accounts with lower interest rates.

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jagrus

Asked by jagrus at 3:30 PM on Jan. 8, 2011 in Money & Work

Level 10 (484 Credits)
Answers (9)
  • We don't use credit cards and haven't for years.....we do plan on paying off the car loan with our tax return and eliminating that monthly bill. That extra money will be used to pay extra on the other big "bill" we have to pay it off this year. Then our only debt will be the house and we'll pay extra on that once these two are eliminated and save the rest. We also put money into a savings account each week as well as put money into a Christmas fund each week to pay for Christmas next year.
    Mom2Jack04

    Answer by Mom2Jack04 at 3:37 PM on Jan. 8, 2011

  • We'll pay off our last bit of debt by the end of February (Thanks Dave Ramsey!)
    Then we'll literally start saving money since we'll be working on building up our emergency fund.

    We're on a pretty tight budget which has allowed us to pay off debt. We also have cut our expenses and started paying cash for everything instead of swiping the credit card.
    Erica_Smerica

    Answer by Erica_Smerica at 3:48 PM on Jan. 8, 2011

  • Paying off bills. Then putting a majority of our tax return in savings.
    JazzlikeMraz

    Answer by JazzlikeMraz at 3:57 PM on Jan. 8, 2011

  • Start by figuring out what is a need and what is a want. My husband and I act as each other's checks and balances for spending. We consult each other on any purchases over $50-- sounds drastic, but knowing what each of us is spending and on what helps us to identify priorities and get a sense of where our money is going.

    We also set out budget out on a monthly and yearly basis. For instance, we know every April we need to set aside money to pay taxes, and every June and December, we need to set aside money to pay for insurance. We also underestimate our paychecks by a couple of hundred dollars.

    Most importantly, we have insurance. We have life insurance and disability insurance in case one of us is unable to work for any reason.
    Busimommi

    Answer by Busimommi at 4:03 PM on Jan. 8, 2011

  • I have started really getting better at couponing. It takes time and energy but I am a SAHM so I consider it part of my job :) Sometimes I do better than other times...but even on the worst time I save money that would normally be gone.

    Yesterday I saved 25$ on groceries. On Christmas I saved about 100$ with coupons! :) I hope to get better :)
    mom2twobabes

    Answer by mom2twobabes at 4:28 PM on Jan. 8, 2011

  • I got a job and I'll be putting no less than half of my paycheck into a totally seperate account that won't be easily accessible.
    Anonymous

    Answer by Anonymous at 8:44 PM on Jan. 8, 2011

  • A lot of my debt is gone. I have student loans (which will be deferred when I start school again this semester), a credit card from my credit union, and one smallish debt from a previous school (different school from the loans).

    When we go grocery shopping, we get the store brand for nearly everything. Some things just taste funny.

    We limit the amount of electricity we use. If we're not in the room, lights are off.

    We have the basic package for TV. We have the max for satellite internet (job searching, learning aids for my daughter).

    We spend what we can on gas and limit how much driving around we do. If it's not to work or grocery shopping, we stay home.

    We cook dinner every night instead of eating out.

    We don't get toys for our daughter. She plays with what we played with as kids or friends/family get her toys. Also, we buy her clothes and shoes big so that she can grow into them.
    _Tam_

    Answer by _Tam_ at 1:33 AM on Jan. 9, 2011

  • Using coupons and combing the sales/clearance help a LOT.
    _Tam_

    Answer by _Tam_ at 1:34 AM on Jan. 9, 2011

  • I've come to realize that coupons can save A LOT of money. I'm going to do my best to use coupons from now on.

    www.ErikaCarrillo.com
    mommy2joeynabby

    Answer by mommy2joeynabby at 9:27 PM on Jan. 9, 2011

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