Ways to save money thread

[djflex]

As I am sure to be unemployed in the near future, I thought I would start a thread for people to post their money saving tips and techniques. I know there are many of us in the same boat perhaps we could all share some basic tips to ease the budget strain. I have been saving for awhile, but will try and post a few things I have tried.....

-Use the library for books to read and movie rentals. Mine has a pretty good selection and for a little waiting on movies it is worth it.

-buy a water bottle if you already do not have one instead of buying one every day at the gym.

-Check your cable subscription for lower plans, it is not that hard to live with just the basic channels

...more to come

[rpaul11]

buy in bulk....you will spend more money today, but over the course of a month the economy/family size quantities pay off.

[dbx]

I'd strongly suggest saving as much cash as possible. I think it may prove to be smarter to act now instead of waiting to see what happens.

I would cease putting any monies into 401Ks or IRAs.

If you have an "extra" car, sell it for what you can if you know you can do without it.

Check with your insurance company to see if you can dump "unnecessary" coverage, like full coverage on older cars that are paid for. You might consider increasing your deductible to save on premiums (house and cars).

Do simple things like cooking homemade meals. They are much more cost efficient than eating out or eating fast food. If you don't own a separate freezer...you might consider purchasing one. Beside buying new, you can find good appliances at great prices in almost any major metro area. Then, stock said freezer as good sales come along.

I said this once many, many months ago; I'm not an alarmist (and this has nothing to do with specific politics, but rather economics), but it appears very obvious to me that we are only rebuilding a new house of cards on the same pile of sand. It is not sustainable, and elementary market principles clearly spells this out. We are using circular logic, and that only prolongs the inevitable; which is deep pain. We cannot escape it, and we are only dragging it out which will make it worse. I believe we'll see the first signs of this much deeper crisis that looms by Oct/Nov of this year. And note, for those of you who know I'm conservative when it comes to politics and think this is bashing BO , I'll say this; While I believe a rep might spend less than BO is now, the end result will be show it will ultimately make no difference. You haven't seen anything yet, and our govt is simply afraid to tell us what we're in store for.

[Wildtim]

Amen^^^


Store brands are the same as the national brands.

No frills stores like save-a-lot are good bargains for staples like beans and rice. They also have basics veggies and meats at the same bargain prices.

My garden is only ten by ten but it will provide a lot of the vegetables I will need once I can them this fall.

[Iron Barbarian]

Originally Posted by dbx

I would cease putting any monies into 401Ks or IRAs.

Out of curiousity why would you do that? I currently have mine maxed out and it has been that way for years. If you aren't retiring soon it is the best time to put money in. As the market goes up you have the potential to make a serious return on your investment. Granted I have lost over $70,000 in the last year or so but it is starting to come back up with the way the market has been.

To the OP - Buy everything you possible can on sale. Every time I walk into a grocery store I try to get every item I can on sale. The last trip I made to the grocery store I spent $37.01 and saved $57.40 so basically I got $94 worth of groceries for $37. This included London Broil for $2.97 /lb, Bulk Boneless Chicken Breast for $1.67/lb. and Lobster Tails (7 of them) for $2.99 each which regularly sell for $6.99 ea.

Also when I go to Vitamin Shoppe etc. I always ask if they will give me 20% off my purchase before I buy anything from them. They always do. I also buy the cheapest stuff and mix my own pre-workout drinks by buying A-AKG (NO) and Creatine in bulk for next to nothing. You'd be surprised how much they hook you up to make a sale.

I currently workout at the Fitness Center at work so my fees are free and you can't beat that. I have through the years also have picked up a lot of equipment at yard sales etc. and have built a pretty good sized home gym in case the work thing falls through.

Also I have tons of free stuff I have accumulated from all over the place. The wife gets pissed because I bring so much free stuff home. I have about 10 mixer bottles, tons of free t-shirts, tons of free supplement samples (The Cellucor Rep from here alone sent me 2 free t-shirts and around $250 worth of free samples) , He hooked me up really good. My workout partner just hooked me up with a free lifting belt last week that was too big for him and brand new and fits me perfectly (Thanks again ALBPM). I have quite a few zip loc bags full of free supplement samples from Bodybuilding.com. I add them to every one of my orders along with free lifting straps, dvd's, etc.

Also Craigslist.com is a good place to pick up a lot of stuff for dirt cheap. We picked up our Southwestern Dining room table and chairs on there for next to nothing on there and it is in immaculate shape and the cool thing is I don't have a truck but the seller did and he followed me back to the house and delivered the table for us.

This may also sound a little weird but we do a lot of gardening. Can't pass up free food from nature. We have Cherry, Peach, Pear, Nectarine, and Apple trees we have grown. We also have Grapes, Sage, and tons of different veggies. The wife has the green thumb going on so we get a lot of produce for free that we grow.

Also if you are around Wild Game you have a unlimited source of free food to eat if you hunt or if you are around water you can fish.

My goal is to eventually not to have to pay for any food at all and be able to grow or hunt for it. I currently have friends that hunt and hook me up with deer and elk meat for free because they hunt so much of it and don't have room in their freezers for it since they have so much.

The biggest thing we saved on is our house. I have a friend who has a Contractor's License and him and I hired all the contractors to build our house. When it was all said and done our house cost us $224,000 to build and it appraised at $425,000. I wouldn't recommend doing this though as the time it was done I wanted to strangle everyone involved. LOL He tried talking me into building and flipping houses every two years and you get the forth one for free because you keep rolling over the profit into each new house. It is a lot of stress. One was enough for me.

Good luck to you. My Wife got laid off 4 months ago and we are going to be laying off between 100 to 200 people at my job and we have had to wait for three months sweating out if we will have a job or not. We find out next week. Talk about suck..

[djflex]

Originally Posted by rpaul11

buy in bulk....

always the smart move....

Originally Posted by dbx

I'd strongly suggest saving as much cash as possible. I think it may prove to be smarter to act now instead of waiting to see what happens.

I would cease putting any monies into 401Ks or IRAs.

I am pretty good about saving cash, although we all could use more!!! I recently took my 401 down to the bare mininum as well

All good tips, keep them coming. i think for me now it is the little things.


i know that eating out is something we are cuting back on, when we do we try to look for the discount coupons

[djflex]

Originally Posted by Wildtim

Amen^^^



My garden is only ten by ten but it will provide a lot of the vegetables I will need once I can them this fall.

Home made garden is a great idea....could be fun as well

[djflex]

Originally Posted by Iron Barbarian

.


Good luck to you. My Wife got laid off 4 months ago and we are going to be laying off between 100 to 200 people at my job and we have had to wait for three months sweating out if we will have a job or not. We find out next week. Talk about suck..

thanks man, good luck to you and yours as well, thanks for tips as well.

[pu12en12g]

Originally Posted by dbx

Do simple things like cooking homemade meals. They are much more cost efficient than eating out or eating fast food. If you don't own a separate freezer...you might consider purchasing one. Beside buying new, you can find good appliances at great prices in almost any major metro area. Then, stock said freezer as good sales come along.

^^^^

This guy has the right idea, save $$ on daily expenses that add up fast

[jellodirt]

"Work for yourself" By that I mean change your own oil, sharpen your own lawn mower blades, unclog your own drains, etc. With all of the "how to" sites on the internet there is very little a person couldn't do.

[otrebmu]

i can see how not fully utilizing your 401(k) or IRA can benefit you in the short-run (duh, not locking it up until retirement), but i'd suggest seeking alternate ways to become more efficient with your spending, such as the many ones that've been mentioned in this thread, and not decreasing your tax-deferred contributions. those are vital. for your long-run financial well-being.

am i doinitright?

[partsRheavy]

Let's keep the politics out of this. I've been into saving money since, um....at least the Clinton Administration if not before then. It was applicable last summer when I was screaming about $4 gas, and it's as applicable now.

1. I often buy groceries at a discount grocery store. Of course, I do check the _use by_ dates to make sure that things are still fresh. Mostly, I buy non-perishables there, but the discount grocery near me has started selling grass fed ground beef for $2.89/lb and they also have a bulk dept. that includes a lot of the foods we as BB'rs are s'posed to be eating. Brown rice, walnuts, almonds etc. Free range eggs also. Try farmer's markets.

2. Yard sales. One can get into clutter trouble easily with this! However, there are some real steals at yard sales ---- clothing, housewares, etc. My current problem is that I now own 2 nice pr. of downhill skis for $5 that I bought with some desired gloves and a desired pedometer LOL.

3. Thrift stores. In some areas, Goodwill has become a little expensive but there may be a sort of discount Goodwill where things are sold by the pound haha. Very cheap for clothes. Nice winter jacket last week for $2.00.

4. Scrap yard for weights. I bought a 25lb dumbbell a couple of weeks ago for about $4.00. The price of iron has gone down. Weights show up in junkyards sometimes.

5. More basic selection of food in line with BB diet. Most of the food that has ~really gone up~ in price a lot is stuff like cookies, crackers sodas etc. that aren't really BB-appropriate. It would definitely save money if even the non-lifting members of a household cut out some food items in line with the lifting members' diet. They probably won't cut everything out, but even cutting out a few items will reduce grocery bills for a family.

6. Home insurance and auto insurance with same provider for good driver type discount.

7. Eyeglasses from discount place rather than full-price place.

8. For the gals, go natural with hair - just a cut and no color or perm if no major special events during the season. If you'll be at a wedding or the like, then of course dress it up.

9. Cut out movie rentals and reduce cable plan. Institute a "screen time" rule in the house. Especially easy during warm weather. The $150-300 spent on a bike or sports equipment for a kid instead of a few months' cable bill may be well worth it, especially if there is a bike lane and safe riding route nearby (most prevalent in the western U.S). Consider family gym membership along with the idea of holding "screen time" to a set limit.

10. It's summer. Consider selling expensive but rarely-used toys like boats, ski-doo's etc. Consider how often the item is actually used. Even lower-end vacation homes are selling OK nowadays...just not the high-end stuff. Just talked with a realtor today who confirmed that he's doing well with small properties whether starter homes or casual vacation places. If you use something and enjoy it...keep it. If you rarely use it, consider selling....

10. Watch what goes into your health insurance record in order to manage your rate. If for some reason you want an extra set of bloodwork, consider paying for your own on a cash basis at a place like "Any Lab Test" rather than going through your doctor and insurance provider.

11. Same with your car. Watch what goes into that insurance record. If you have a _very minor_ fender-bender, consider not filing a claim and dealing with the damage yourself.

12. If you have a son or daughter going to college, inquire very thoroughly into scholarships and grants before pursuing loans!!!!

13. Unless you live off-road or in a snow-bound area and unless you regularly haul lots of items, ditch the gas-guzzling SUV or large pickup, IF you can get a decent price for it. This was probably better advice back in 2005 or 2006...

14. Examine any and all credit card offers VERY carefully.

15 Look before you leap when it comes to investing, whether it's real estate, stocks, mutual funds, condos, whatever.

16. If you're looking at real estate, look at 15 or more properties before choosing one. I am female, so I can get away with a male-chauvinistic statement here....in the case of real estate, ~let the man make the final decision.~ I am normally somewhat of a "feminist" but I have seen so many women fall for utterly outrageously priced properties for which a rational person would never pay so much. There is a reason that many real estate agents are female, and it isn't the preservation of men's pocketbooks.....This is one of the few issues where I'm strongly on the men's side LOL. LOL. :-) :-)

DON'T SKIMP/DON'T TRY TO SAVE MONEY

1. Good nutrition.

2. Routine and necessary medical care.

3. Same as no. 1 and no. 2. for your pets (and family of course).

4. Underwear, bathing suits. If it's intimate, I buy it new! (sales are great ha ha!)

5. Normal hygiene stuff. Nevertheless, sometimes you can find pretty nice things at flea markets.

6. Safe running vehicle and maintenance for it.

7. Time spent with loved ones. Time spent on one's own health, enjoyment and sanity.

8. Time and money spent doing what you enjoy and believe in.

[djflex]

some more small tips...


-always use your own bank for cash withdrawls, the $2.00 foreign fees add up quick
-check your phone service. do you really need a land line? Monitor your cell minutes and if you are not using them all you may be able to switch to a cheaper plan
- take advantage of all "club" discounts and possible point earnings. I use the speedway card and have earned alot of free gas cards, etc
-is carpooling an option for work , or for the kids events?

[Mr.Blue]

Look for a "FreeCycle" group near where you live (internet search is the best way to find one). You can pick up or exchange all sorts of stuff w/ people looking to get rid of them, but don't want to send to the landfills.

[djflex]

Originally Posted by jellodirt

"Work for yourself" By that I mean change your own oil, sharpen your own lawn mower blades, unclog your own drains, etc. With all of the "how to" sites on the internet there is very little a person couldn't do.

this is a another great idea, the library also has most of the how to books as well...



many great posts here

[partsRheavy]

No land line since 2005 ;-) Using cheapest cell plan possible....Thanks for the hint about speedway!

Originally Posted by djflex

some more small tips...


-always use your own bank for cash withdrawls, the $2.00 foreign fees add up quick
-check your phone service. do you really need a land line? Monitor your cell minutes and if you are not using them all you may be able to switch to a cheaper plan
- take advantage of all "club" discounts and possible point earnings. I use the speedway card and have earned alot of free gas cards, etc
-is carpooling an option for work , or for the kids events?

[...Kennedy]

This is turning into a great thread. Thanks to all for sharing such worthy tips.

partsRheavy, you have the right attitude towards life.

[spearfisher]

I hope things work out well for you man. I decided a while back to pursue another degree. Lucky me, I was accepted into the program I applied to. Unlucky me, I haven't drawn a paycheck in 20 months. Furthermore, I wont get a paycheck until at least Jan '10 Talk about pinching pennies. I have six months til graduation, a house, a wife, 2 kids(teens no less). If your wife is like mine and thinks its fun to go shop every sat/sun, do like I do. Don't tell her if you have a good bit sitting in the checking account That's the best/smartest thing I ever did. Even though I dont work b/c of school, I still manage the $$$. Anytime I get reimbursement for school or whatever or my new job I'm on contract with to start in Jan, sends me a stipend check, I quietly move it to savings LOL. That way I have back up for the times when money is more tight. GL. I feel your pain. Looking forward to actually getting paid for work again one day soon!

[Iron Barbarian]

Just thought of another one. I bought a Electric Hair Trimmer and I have the wife shave my head weekly. It used to cost me $15 for a haircut now it's free. Now if I can just convince the wife she will look good bald....LOL I don't think that's gonna happen.

[bodyhard]

Originally Posted by djflex

As I am sure to be unemployed in the near future, I thought I would start a thread for people to post their money saving tips and techniques. I know there are many of us in the same boat perhaps we could all share some basic tips to ease the budget strain. I have been saving for awhile, but will try and post a few things I have tried.....

-Use the library for books to read and movie rentals. Mine has a pretty good selection and for a little waiting on movies it is worth it.

-buy a water bottle if you already do not have one instead of buying one every day at the gym.

-Check your cable subscription for lower plans, it is not that hard to live with just the basic channels

...more to come

I know this is not of any help but just wanted to add, my wife and I are (as dumb as it is) spending more money now than we ever did before. In the last 2 months we spent over 8k on the house, we are eating out almost everyday (my wife used to cook every day).

To top if out we did really good on our streamline refi but I just got notice this Friday that my company will be cutting our work by 20% for the month of May and June. That means we will only be working 32 hours a week for the next 5 weeks.

I tried to look at the bright side, I could have been let go.

But you are right my wife and I better start saving money now so this thread is a great idea!

[Whatanejit]

Great ideas already suggested above.

My OH was made redundant last Oct (08).

Cutting back on eating out, take out saves a lot.. so does making your own lunches and bringing them to work.

Cut out the starbucks.

Deffo buy a water bottle and keep filling it.


We have saved a tonne of money on monthly heating bills by limiting the heating to a few hours per day.

It was tough in winter as it was colder than normal here but we wore extra clothing and snuggled up on the couch with a sleeping bag over us.

Also, when cooking, don't make the dinners that need 2-3 hrs in the oven..buy a pressure cooker and get the same dinner cooked in 20 mins.


But for those of you who are really worried I agree with DBX.. save, save, save.

and remain positive.. you will get through this..

I will be the first to admit that there are many positives that have come out of this financial strain..

[IronCharles]

Here's one I didn't see mentioned..... have more fun and save money at the same time:

Buy a motorcycle! It will pay for itsef in gas savings, and there's nothing like a brisk ride on the open road to get your adrenaline pumping again!

To the folks recommending not putting money into 401k's...... this is the BEST time to invest in the market, after a big drop, because now you will be getting top return on your dollar as the market rebounds. Many people hurt themselves by pulling money out or cutting investment AFTER the big drops, and then they don't start reinvesting until the market is bloated again and ready for another correction. Then when it drops as soon as they reinvest, they get hurt again and are soured on the whole investment experience.

Get back into your 401k's BEFORE the market gets back up to 11,000 +

[StressMonkey]

One thing that people are surprised about is that you don't have to have a cable tv subscription to get high definition channels. You can get several for free over the air.

[dbx]

Originally Posted by Iron Barbarian

Out of curiousity why would you do that?

Let's just say that a few months ago, I'd have been giving you the "Duh!" suggestion of buying great valued, low price stocks and plowing your money into your 401's and IRAs while the market appeared to be finding the bottom. While you see the market rising right now (up 30% since Feb/Mar's low), I believe it is short lived and is based upon "the story" being sold to all of us. Again, what we are doing is not sustainable, and whether or not our economy crashes in flames....or we see hyper-inflation that will make the late 70's look like a boom, it's not going to be pretty. Again, there is zero politics in what I'm discussing here. The past and present administrations did/have acted similarly. Their theoretical ideologies are opposed on fiscal matters, and it's not a coincidence as to why they've behaved the same. We drive the world's economies. Yes, the U.S. does this practically by itself. There is more at stake here than our own economy, and nobody wants to be the person responsible for worldwide economic catastrophe. But...it's inevitable. Only to what degree is in question. Again, for people who don't know me, I'm well aware of how this sounds. To those who do know me, you've never heard anything but an optimistic viewpoint of things to come from me. But not now. I hope some of you will save these posts and will be able to rub it in my face later on. Truly.

[IronCharles]

They say, nothing ventured, nothing gained. I'm not convinced that putting your money in a shoebox under the bed is the soundest fiscal strategy. If the economy disintegrates, you still have nothing but a shoebox full of worthless paper. Should you invest in gold? Well, after the 'potential' economic collapse, are you going to spend your krugerrands at the supermarket to buy bread, milk and eggs? If it goes, it goes, and only people with guns will not be hungry.

[Tyrbolift]

Originally Posted by dbx

Let's just say that a few months ago, I'd have been giving you the "Duh!" suggestion of buying great valued, low price stocks and plowing your money into your 401's and IRAs while the market appeared to be finding the bottom. While you see the market rising right now (up 30% since Feb/Mar's low), I believe it is short lived and is based upon "the story" being sold to all of us. Again, what we are doing is not sustainable, and whether or not our economy crashes in flames....or we see hyper-inflation that will make the late 70's look like a boom, it's not going to be pretty. Again, there is zero politics in what I'm discussing here. The past and present administrations did/have acted similarly. Their theoretical ideologies are opposed on fiscal matters, and it's not a coincidence as to why they've behaved the same. We drive the world's economies. Yes, the U.S. does this practically by itself. There is more at stake here than our own economy, and nobody wants to be the person responsible for worldwide economic catastrophe. But...it's inevitable. Only to what degree is in question. Again, for people who don't know me, I'm well aware of how this sounds. To those who do know me, you've never heard anything but an optimistic viewpoint of things to come from me. But not now. I hope some of you will save these posts and will be able to rub it in my face later on. Truly.

I agree with you. We could just be following a similar model to The Great Depression. After the initial crash, the stocks actually rebounded to a degree, but then began the long slide in the years following.

[2k89Power]

Keep putting max contributions into Roth IRA. Its not hard to invest your own money yourself. I understand people have jobs, but if you play the market right and do some options trading you can make great money every week.

This is a suckers rally, the market is still over valued and with massive bailouts, and spending by this administration do not be fooled into putting money into the market unless you are pretty experienced at trading. If your pinched for money cancel phone bill or cable tv. you can survive with just a cell phone and basic tv.

[rpaul11]

Originally Posted by djflex

-check your phone service. do you really need a land line? Monitor your cell minutes and if you are not using them all you may be able to switch to a cheaper plan

indeed...if nothing else, drop your long distance...those taxes add up.

make coffee at home instead of buying it out. 2-4 dollars a cup is a lot of money

bicycle to work if it's feasible for you or buy one of those scooters that gets 80-100 mpg you may look stupid but you can laugh your way to the bank.

Originally Posted by IronCharles

. Should you invest in gold?

No...gold and silver prices are so high you will never recoup your investment.

cut out soda from your diet...that **** is expensive (as is bottled water but that was mentioned)

[djflex]

Originally Posted by Iron Barbarian

Just thought of another one. I bought a Electric Hair Trimmer and I have the wife shave my head weekly.

good point, I forgot to post this one as I have been doing it for several years as well

Originally Posted by rpaul11

make coffee at home instead of buying it out. 2-4 dollars a cup is a lot of money


cut out soda from your diet...that **** is expensive (as is bottled water but that was mentioned)

x2 on the homebrewed coffee, sorry starbucks you are out!!

sun tea makes a great summertime beverage whih i like better than pop and is very inexpensive..

[crupiea]

Originally Posted by djflex

As I am sure to be unemployed in the near future, I thought I would start a thread for people to post their money saving tips and techniques. I know there are many of us in the same boat perhaps we could all share some basic tips to ease the budget strain. I have been saving for awhile, but will try and post a few things I have tried.....

-Use the library for books to read and movie rentals. Mine has a pretty good selection and for a little waiting on movies it is worth it.

-buy a water bottle if you already do not have one instead of buying one every day at the gym.

-Check your cable subscription for lower plans, it is not that hard to live with just the basic channels

...more to come

These ideas are ok but lets not get too hasty with cutting off the cable. I would rather cut off my libraray card instead of my cable.

I really dont do much different to save money. My tastes run fairly cheap as they are.

My food is pretty expensive but it is also my top priority in life so i wont cut that in the slightest. I have considered cutting off some pay channels that Inever watch but as soon as i do, there will be some boxing or movie on that I want to see. I would rather just pay the bill and not worry about it.


I never eat out except an occaisional burrito at the mexican joint. Dont go to the movies or pay a gym fee.


The nice part about losing a whole bunch of weight is that I have every size clothes that I could ever want from size 54 down to size 34 so i dont think I will ever need to buy new clothes again.

I have trimmed my Vegas vacations down to 3 this year vs 4 last year so I guess thats something.