Saving Money

Discussion in 'The Cocktail Lounge' started by Rosyrain, Jul 11, 2015.

  1. Rosyrain

    Rosyrain Senior Investor

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    What are some of the creative ways you have found to save up some money? I know that some people use coupons and collect the savings in a jar and thing like this, but have you found a really clever way to save up money over the years? I have recently given up mocha coffee drinks and this has resulted in $3.50 a day that I am not spending.
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I have gotten into the habit in recent years of using credit and debit cards very little, and just mainly spending so much a week off a certain amount of cash I'll keep in my wallet.

    I usually leave my debit cards at home and keep one credit card on me that I'll use maybe no more than a couple of times a month here and there.

    It helps to plan ahead and budget. And when you treat yourself to the odd night out or major purchase, limit that amount as well.
     
  3. baudwalk

    baudwalk Senior Investor

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    Pay yourself first: a rainy day fund, dollar-averaging investments, etc. If you are working for an entity that offers any types of savings programs -- payroll, profit, pension -- take full advantage of anything that moves. And live within the remaining net proceeds. No cheating.
     
  4. dianethare

    dianethare Senior Investor

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    Am yet to start saving properly...without dipping my fingers back in the saving coin box for some extra change...I need to change my behavior in that regard...
     
  5. ScooterBrandon

    ScooterBrandon Senior Investor

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    One of the biggest expenses is transportation.
    There is normally a lot of ways you can actually save big bucks. I'm talking ten or even hundreds of thousands over ten years type of money.
    Luxury vehicles are the biggest scam going. An Acura is just a Honda with a few extra gizmo's.
    New vehicles and any vehicle that has to be bought with credit is a bad idea. Big SUV's and trucks are unnecessary. A sub 3L engine is more then enough for normal day to day driving. Don't get suckered in when they tell you SUV's are safer. The difference is negligible. Premium gas doesn't do anything extra for a engine designed for regular.
    Same with 4x4 and AWD. These are performance features, NOT safety features. AWD and 4x4 allows you to accelerate faster in bad conditions and navigate off road conditions. 99% of the population will never ever need these features. They also cost a lot more to maintain.
    The commute is also costing you big money and time.
    If possible try to locate closer to work, or get a job closer to home.
     
  6. crimsonghost747

    crimsonghost747 Senior Investor

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    There are loads of ways to save, I think one of the best ways is to simply not buy what you don't need. Just keep a close eye when grocery shopping etc and ask yourself "do I really NEED this item" or "could I get the cheaper version?" everytime you put something in the basket.
     
  7. JoshPosh

    JoshPosh Guest

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    You just need to live very frugal. There is a long list of things you can do to make things easier on you. But I'll just address my main money pit, rent/mortgage. I like most people want to have their privacy and live alone. But that cost a lot. Now a days if I do have a house with an extra room, I'm renting that out asap. You can easily cut your rent in half and share the utilities. That is a huge saving on it's own.
     
  8. JoshPosh

    JoshPosh Guest

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    The little things do help in the long run. Time to start questioning everything you purchase and ponder if is it really necessary to have that item? If you absolutely need it, then try to find a cheaper alternative. In your case, time to start making your own Mocha Coffee, or finding another coffee that has it cheaper. Most things that you buy, you can find it cheaper elsewhere.
     
  9. Rosyrain

    Rosyrain Senior Investor

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    I work 11 miles from my house and it seems that I am still spending a lot of money in gas each week. I try to limit my outings as much as possible and do everything in one trip. Now that the weather is nice, I also park somewhere and then walk around to do all of my errands.

    Eating out was also another expense that I recently put in check. Now I spend a little more at the grocery store and make myself some very tasty lunches for a fraction of the cost I used to spend eating out.
     
  10. ScooterBrandon

    ScooterBrandon Senior Investor

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    How you drive can have an impact on fuel consumption, google hypermiling.
     

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