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Subject: Ways to save money
I'm finally moving out of my parents place this Spring, and hopefully this time it will be for good!
The thing is I've got two jobs because both jobs aren't exactly well-paying jobs. One job is at a department store as a sales associate (contemplating about quittting that one) and the other is at the bank as a teller (I just started working there so I'm working at their entry wage for now).
Anyway, I'm a little worried about how I'm going to be supporting myself. I know I shouldn't worry too much because I haven't been in debt yet, but I'm just wondering what are some ways for me to save money yet still be able to afford to spend money on things I like to do such as shopping. I must confess that I'm a little materialistic (I like brand names), and it's probably obvious through my posts that I'm a bit of a shopping addict.
Subject: Re: Ways to save money
One way...is you can switch your car insurance to Geico. lol
Sorry, I just have that commercial stuck in my head. It might help though. 8)
Subject: Re: Ways to save money
I think you need to make a budget. Figure out how much money is coming in and then how much you need for essentals, i.e. rent, food, heat, electric, etc. Then figure out how much is left over. The best thing to do is take part of what is left over-at least half, and put it aside for a rainy day or a major purchase (savings account) and the rest is play money. ;D There are ways of being frugal without going without. Clip coupons, find sales, etc. But, when you are a limited budget, you have decided what is a need and what is a want. And when it comes to wants, you have to decide if is it something that you REALLY want or something that you can do without-for now.
(edited to add) Good-Luck! ;D
Cat
Subject: Re: Ways to save money
Quoting:
One way...is you can switch your car insurance to Geico. lol
Sorry, I just have that commercial stuck in my head. It might help though. 8)
End Quote
Don't have a car, but thanks for the tip! ;D
Subject: Re: Ways to save money
You could always do the simple...don't spend any money ;D
Budgets are good :) Spend within your means, unlike some state governments we know and love 8)
Subject: Re: Ways to save money
Quoting:
I think you need to make a budget. Figure out how much money is coming in and then how much you need for essentals, i.e. rent, food, heat, electric, etc. Then figure out how much is left over. The best thing to do is take part of what is left over-at least half, and put it aside for a rainy day or a major purchase (savings account) and the rest is play money. ;D There are ways of being frugal without going without. Clip coupons, find sales, etc. But, when you are a limited budget, you have decided what is a need and what is a want. And when it comes to wants, you have to decide if is it something that you REALLY want or something that you can do without-for now.
(edited to add) Good-Luck! ;D
Cat
End Quote
Cat said everything I wanted to but for one major thing. DO NOT GET A CREDIT CARD!!! Those things will be the death of you, trust me.
Subject: Re: Ways to save money
Quoting:
Cat said everything I wanted to but for one major thing. DO NOT GET A CREDIT CARD!!! Those things will be the death of you, trust me.
End Quote
That is very true. Credit cards can get you in big trouble if you are not careful. I am a very strange individual where I do use my credit card all the time-but I do pay it off every month.
Cat
Subject: Re: Ways to save money
try not spend it on almost everything.save a little and spend a little. :)
Howard
Subject: Re: Ways to save money
Thanks to my extensive Oprah watching, I learned that you should always pay yourself first.
As soon as you get your pay check put a little away for yourself.
Billy put away $25 a week.
After 52 weeks he has $1300.
How much does he have after ten years?
Anyway the point is that if you put a little money away each week, it will gradually build.
Also don't spend money on overpriced Starbucks stuff. :P
Subject: Re: Ways to save money
Quoting:
That is very true. Credit cards can get you in big trouble if you are not careful. I am a very strange individual where I do use my credit card all the time-but I do pay it off every month.
Cat
End Quote
Good for you, Cat. I wish I had your willpower. Mine all got maxed. I am one of the more common credit card holders.
Subject: Re: Ways to save money
This is very simple, but each time you come home with pocket change, put it in a jar or piggy bank (preferably one that is not very easy to open/get into), and you'll be amazed how fast those pennies add up. You won't be able to support yourself completely just by saving quarters in a jar, but it really does help.
Subject: Re: Ways to save money
always save those pennies.you never know when you might need them again. ;D
Howard
Subject: Re: Ways to save money
avoid spending money on drugs...
:-/
Subject: Re: Ways to save money
Quoting:
That is very true. Credit cards can get you in big trouble if you are not careful. I am a very strange individual where I do use my credit card all the time-but I do pay it off every month.
Cat
End Quote
Same here. Groceries, gas, basically anything we can. We also get Toys'R'Us certificates for 1% of what we spend. (which, with 3 kids, makes Christmas, bdays, etc. very inexpensive for us ;))
Catluver, I agree with what Cat said. I do most of my clothes shopping at places like Carson's, Marshall Field's & the like, BUT I rarely buy things that aren't on clearance. Also, I shop at Goodwill. Today, for instance, I got a pair of Calvin Klein jeans that still had the original store tags on them for $3.99, a pair of Express jeans for $4.99 & a J.Jill sweater for $2.99. All are in perfect condition. If you have the time to look through the racks, you can find some real bargains. PLUS, the more time you spend looking through the racks, the less time you have to spend looking at what's not on sale. When it comes to groceries, you can save a lot by buying the store brands or BOGO sales. Coupons are a must, I never go shopping without them. ;)
Subject: Re: Ways to save money
Another thing to look at is make sure that you don't waste money in the way you run your house (flat, whatever). Little things like turning out lights and turning down the heating/air con a notch or two really do add up. Turn things such as tv's and computers off when you're not using them also saves a bit.
Can you cheaper deals by having your electricity, gas and phone with the same company or paying bills over the internet? In Britain this sort of thing would save about £20 a quarter which doesn't sound a lot but can make a difference when your salary is low.
Subject: Re: Ways to save money
maybe this isn't the popular answer but you could really invest in yourself and put your money in a savings account and don't get a bank card that attaches to this money. that way you have to think about going to the bank every time you need money. and chances are the energy of going inside to a teller is usually not entirely worth the purchase. or if you have some cash and want to add to what you have you could open a Roth IRA, which allows you to add money to the existing balance. But not being a financial advisor or banker it is only a suggestion.
Also, silly but true. if you have small goals, like buying your pal a birthday card and cake in between paydays, use a little unused gift box or rolled up sock, or rarrely used purse or wallet? or something & hide money from yourself. Willingly leave it alone for a week or 2? or 3? and you'll forget about it. Then after a while you will find it once you clean, or go to use that box and then "hey!" it will be like a gift to yourself. Of course I mean less than the price of designer shoes. Like maybe 10 to 25 american dollars would be a small windfall but not enough to give anyone reason to ransack your home looking for more.
And you can always take up the "do i want it or do i need it" mantra? But this would require changing your habits I gather, which would be difficult if you enjoy buying what you want whenever you are out. But the reality is
Need and want are two different things when a body has very little funds. Tell yourself you are aspiring to save big money for a trip, or for a new something or other, car, sofa, concert, sporting event and then do whatever you can to save it. Be strong and good luck.
Subject: Re: Ways to save money
OK here is my list. If I sound like a cheapskate, maybe it is because I am partially of Scottish ancestry.
Set an itemized budget and stick with it. I really, REALLY recommend that you track all of your expenses via Intuit Quicken. If you want some help in how to do that, send me a message and I'll be glad to help. Thanx to Quicken, I know where all my money goes to, and where I gotta cut it. 8)
Budget "Eating Out". Eating out is expensive and it adds up quicker than you think. Set yourself a budget by week and stick to it.
Budget Coffee, Pop, etc... Again, buying coffee and pop can really add up quickly. Don't "deprive" yourself, but set a budget, stick to it, and drink more water instead!. :P
No cell phone. Those things are money burners.
No cable TV. If cable is a "must" then at least do not spring for HBO or other premium channels.
Turn down the thermostat. One of those thermostat timer thingies is a great investment.
Pay utility bills on internet. It saves that 37-cent stamp. Most phone companies and power companies prefer it anyway!
No credit card. Avoid temptation and interest expense.
Compare grocery prices. Grocery prices vary widely (between stores and brands), so ya gotta shop around!
Wash dishes by hand. Dishwashers (if your flat has one) are not cheap to run. That soap gets expensive. Dishwasher is hard on the plates anyway.
No paper plates. They cost money. Use your dishes.
Full laundry loads. Why pay for a full washing machine load if it is not full? Fill it.
Shop around for long distance. Read the fine print. Some "bargains" are not.
Eat Oatmeal or generic bagged cereal. Boxed "branded" cereals are expensive. And the oatmeal is better for ya anyway. :P
That's all for now. ;D
Subject: Re: Ways to save money
I like your list, however I must say that the fact that most cell phone plans come with free long distance and roaming nowadays makes it a better buy than having long distance on your land line, not to mention the unlimited offpeak minutes. The taxes on those offpeak minutes are brutal though.
Good list :)
Subject: Re: Ways to save money
Quoting:
I like your list, however I must say that the fact that most cell phone plans come with free long distance and roaming nowadays makes it a better buy than having long distance on your land line, not to mention the unlimited offpeak minutes. The taxes on those offpeak minutes are brutal though.
Good list :)
End Quote
Excellent point, Rice_Cube.
Depending upon catluver's calling profile, it is possible that a cell phone plan AND NO LANDLINE PHONE could be cheaper than a landline phone + long distance + all those weird phone charges, taxes, etc.
In fact, I have a cell phone and wherever possible, I maximize its use for my long distance calling for just the reaons you mentioned (yet stay within the "free minutes" limit).
I've found that T-Mobile cell service seems to be one of the least expensive in my area.
Subject: Re: Ways to save money
Another point...paying bills online...make sure they (and your bank) do not charge you a fee for doing so. My mom was paying some of her bills online, but realized the bank was charging her $5.95/month to do so. Also, some of the utility companies charge you a monthly fee (usually around $1) to pay online. Personally, I pay everything I can online.