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#2
I always ask myself: Do I WANT it or do I NEED it? If it's the former, I don't buy. Sounds silly, but I save a lot that way.
Final score:
26points
#3
Buy store branded grocery items. They are made by the same manufacturers as name brands,.
Final score:
19points
#4
Don't buy it if you can't pay cash for it. (A house excluded, unless you're in the wealthiest 1%.)
When you do that math, your spending habits alter radically, and you also stop ending up in credit card debt. if you can't pay for it in cash (even if you are using a card for convenience)? Don't buy it.
Final score:
12points
#6
In a clothing store, head straight for the clearance rack at the back.
Final score:
9points
#7
1: Don't have kids. 2: Quit smoking. 3: Buy a house in the cheap part of the country. I realise not all or even one of those will be achievable for most people, but it's allowed me to live a life of oppulent luxury on a single, fairly modest income.
Final score:
7points
#8
Make a budget. Include an amount you can put in savings every paycheck. Do that first before you pay anything else. That way your savings is not an afterthought but a purposeful task. Pay yourself first.
Final score:
7points
#9
I walk away from it. If I liked it enough to come back at the end of shopping (or internet scrolling), then I'll consider buying it. This stops my impulse spending.
Final score:
6points
#11
I use a credit union credit card and buy everything on it to 1. purchases are protected. 2. I get redeemable points. 3. I have a record of all my purchases. I pay in full every billing cycle
Final score:
5points
#12
It blows my mind how a lot of people never consider this when decision-making:
A report came out that with recent inflation factored in, it will now cost approximately $300,000 to raise a child from birth to the age of 18.
Please people, if you're going down that avenue or are considering it, then don't do it for the wrong reasons like "But who's going to take care of me when I'm old ?" or as a "bandage" for a bad-relationship/marriage (spoiler: IT NEVER F*****G WORKS, IDIOTS !!), as a source of benefits/income, to "trap" somebody into relationship, or the classic "wElL tHaT'S jUsT yOu dO/ gOd sAiD i'M sUpPoSeD tO / mUh lEgAcY !!!!"......" b******t.
It's going to cost you plenty, put some thought into it.
Final score:
4points
#13
A mechanic quoted me $950 + labor. I bought the item for $134 online and took it elsewhere.
Final score:
3points
#14
Buy your produce at the Asian market & your spices at the Indian store.
Final score:
3points
#15
Share purchases with family and friends, when able to. That way, everyone benefits from a single large purchase. Example....I purchase a 20 lb bag of brown rice and share with 5 neighbors or family members that use the same rice. They reimburse me for their part of the cost and we all get what we need.
Final score:
3points
#16
I usually, when I go to the store for 1 thing, I only bring enough money for that thing, it's weird but it works
Final score:
3points
#17
1. Buy, if possible, from a Thrift Store. (I am required to wear a suit and tie at work. I once got an $800 Brooks Brothers men's suit for $18.00.)
2. Keep track for ALL of your spending and saving, perhaps on an Excel spreadsheet. Make a game of saving as much as possible.
3. Avoid all bank fees. See your banker (it's free!) to make sure you have the right kinds of accounts. (Many banks have several different types of checking and savings accounts; make sure you have the one that fits your needs.)
4. Get a credit credit card with a good rewards program. Charge EVERYTHING on it. You can easily rack up $20, $30, even $100 a month rewards - free money!
5. Never buy a new car. Buy a "lease return" (a can that someone leased on a 1 or 2 year contract.) You will get a virtually new car at half the cost new.
6. Pay extra on your mortgage. Equity racks up fast.
7. Put the maximum you can into your 401K. Your employer's match is free money.
Final score:
2points
#19
Quit smoking. Burnt the money for a small appartment over twelve years.
Final score:
2points
#20
Spend like it's the end of the month and you're trying to make it to the next paycheck. Make yourself think that you barely have enough in your account to buy groceries for two days.
Also, I don't know whether this applies to other countries as well or not, but many stores - Clothing stores, groceries, etc - have apps now with coupons and sales and promotions. If you can, buy things when they're on sale.
Also, this might seem counterintuitive but sometimes you have to spend more to save money in the long run. There are things for which you absolutely shouldn't opt for the cheap alternative. The best example is shoes. You spend the majority of your day wearing them, they need to be both durable and comfortable. Spending more to buy good quality shoes will be worth every cent and they'll also last longer, saving you money. The same applies for other basic everyday items like your mattress, backpack, winter coat, etc.
Final score:
2points
#21
This might seem counterintuitive, but sometimes you have to spend more to save money in the long run. The best example is shoes. You absolutely should never try to save money on your shoes. You spend the majority of your day wearing them, walking in them, your feet will thank you and you will actually save money in the long run if you spend more on good quality shoes. The same applies to other staple everyday utility items, for exmple, your mattress, backpack, winter coat, etc.
Otherwise, try spending like it's the end of the month and you're trying to make it to the next paycheck. When you go to the store, make yourself think you only have enough money in your account to buy groceries for a couple of days.
Also, many stores have apps with sales, promotions, coupons, etc. Using those, try buying things when they're on sale.
Final score:
2points
#22
Buy secondhand for almost everything (except a few items). Saved us more than $10k +
Final score:
2points
#23
I try to stick to a 10-10-10-70 budgeting method. When I get my paycheck in, the first 10% gets tithed off the top. The next 10% goes into savings, and the last 10% is earmarked as fun money. The remaining 70% is for bills and regular expenses.
Final score:
2points
#24
If you dont really need something give it 3 days and often you realize you dont even really want it. Cook at home, plan lunches ahead of time
Final score:
1point
#25
When you recieve your income, take out how much you want to save and use the rest for your needs and wants. Experiment by increasing or decreasing your saving amount every month until you reach a stage where you no longer need to access your savings to meet your needs. That is your cutoff point showing your minimum expenses for the month. Store the extra.
Final score:
1point
#26
Don't have a girlfriend (significant other).
Don't have kids.
Basically don't marry/have kids.
Final score:
1point
#27
Eliminating the small, recurring expenses that you don't think about can save money quickly and easily. Some examples: Cigarettes--heath benefits aside, in some places cigarettes can run as much as $15 a pack. If you smoke a pack a day, that's $100 a week literally going up in smoke. Skip the fancy coffee at Starbucks or Dunkin or wherever--it's mostly just extra cream and sugar anyway. Get yourself a Mr. Coffee and a can of Folgers and you can save $40-$50 a week. Same with bottled water. If tap water is too pedestrian for you, invest in a Britta or a self-filtering water bottle, and stop spending $2 in the vending machine for about 3¢ worth of water (much better for the environment, too). Finally, take a good hard look at your streaming and video game services and cancel all but the one or two you use most. Nobody really needs 8 billion hours of content. Small lifestyle changes, but by making them you can save yourself hundreds of dollars a month, and with the exception of smoking, after a few you likely won't miss any of these things anyway.
Final score:
1point
#28
If you can't afford to pay off credit card debt every month, pay the minimum payment plus the interest charge. That way you're actually reducing the principle of the debt which will reduce the interest to be charged. Oh, and try not to use the card anymore.
Final score:
1point
#30
Buy generic versions of your meds.
Don't be lulled into buy 3 get 1 of something you only need 1 of UNLESS it is something that you will eventually use and has a very very long life.
Don't buy things at Costco prices because you assume it's a good price, always compare the ratio price (per kg or per lb, etc). I have found like half the items that seem good would actually be cheaper from my closest grocery store.
Take photos of the bottom of your receipts when making a large purchase (the transaction, store, date and time info) IMNEDIATRLY after getting it.
Regardless of how you store it most are printed on biodegradable paper with thermal ink that fades within weeks. This way if the receipt fades/ you lose it before the warranty/return policy ends you have it on your phone and they can type it in manually.
Drink water when you can.
Make your own coffee or drink the coffee at work. If you know the code work is gross being your own instant coffee/tea and keep it in your locker/ at your desk.
Take care of your shoes and they will take care of you.
When meal planning make sure your meals overlap their ingredients and you make use of sales 1. You eat healthier when you cook 2. You can make very different items so it doesn't taste the same every day even when you're being careful about your ingredient list.
Don't forget to treat yourself, if you don't give yourself little treats occasionally you'll get frustrated and spend money on quite large things feeling you deserve it.
If your car insurance is high, look into alternate options for getting to work, lower your premium and possibly save money by ubering, carpooling or taking transit.
If you like pop/sparkling water try soda stream instead. Don't buy new canisters or refills at the store, instead take the cans to alternative refill locations (like paintball places) they usually refill for half the price and it's still just CO2.
Don't get sucked into every cooking fad-- yes you can airfry a bagel, but be reasonable... do you need to airfry a bagel? Same goes with recipes-- yes you can make alfredo using whipping cream but a quick search will also tell you that you can make it using half and half which you already have in your fridge.
Freeze things in the correct bags and freeze them before you lose them-- bread, meat, veggies.
Have tofu once a week. It's very reasonable and can be very flavourful if treated correctly. I make a tofu stirfry once a week, it literally costs around $7 total for the ingredients and serves 4 meals (2 meals each for my husband and I). I do press my tofu and freeze it so it isn't as dense and picks up more fravour but eating tofu once a week allows us to have money in our food budget for steak and roasts.
Find a hobby. This is a word one but when you have free time you tend to go out with friends to the movies, surf shopping sites etc. So instead, keep yourself entertained while honing a skill. Any hobby can be done cheaply, in fact doing a hobby cheaply helps you find new ways of approaching problems. -- paint using $2 canvases and honemade paint. Woodwork at community workshops. Learn a gaming engine or crocheting and sell your creations.
If you have a work phone 24/7 you don't need a personal cell phone usually. If you work from home, ensure you are utilising any bennies available to you.
Make a realistic budget based on prev spending habits. If you usually spend 60 a month on entertainment, don't act like you'll spend no more than 10... try to bring it down to 50.
And finally, money doesn't have to burn a hole in your pocket, just because you saved an extra $40 doesn't mean you need to go all crazy. Put it into an account and leave it as a rainy day fund or house fund or whatever.
Final score:
0points
#33
I recently had a weird charge on my bank account. I reached out to my bank and the customer service rep. handled my issue quickly. She then talked to me about some other products and I did invest in one. then she asked me if I used my cc for my bills, etc. I no not. She then suggested that I charged everything I pay monthly and I would pay it anyway and get my reward points. Honestly, it never occurred to me that she was right. As a result I instituted that approach and I think it’s a great hack!
Final score:
0points
#34
If you can avoid having a car, get rid of it, it saved tons and can also help with health. Sure it requires a different organisation but it makes a huge difference. I understand it may prove difficult in huge countries though. We got a tandem instead, it's fun and much less stressful too! Budjeting each week with cash in enveloppes helps visualize money spent and therefore helps being extra careful. All remaining cash can be saved for future hardship or projects, fun stuff etc. Always having a little "spending money" each week if having a tight budget helps not go overboard with frustration
Final score:
0points
#35
Spend like it's the end of the month and you're trying to make it to the next paycheck. Make yourself think that you barely have enough in your account to buy groceries for two days.
Also, I don't know whether this applies to other countries as well or not, but many stores - Clothing stores, groceries, etc - have apps now with coupons and sales and promotions. If you can, buy things when they're on sale.
Also, this might seem counterintuitive but sometimes you have to spend more to save money in the long run. There are things for which you absolutely shouldn't opt for the cheap alternative. The best example is shoes. You spend the majority of your day wearing them, they need to be both durable and comfortable. Spending more to buy good quality shoes will be worth every cent and they'll also last longer, saving you money. The same applies for other basic everyday items like your mattress, backpack, winter coat, etc.
Final score:
0points
#36
Live SLIGHTLY below your income. You will be able to save all bank fees, credit card interest, late-payment fees, and all that c**p. Interest charges and fees can really stack up! Charles Dickens, in 1849, on the relationship between money and happiness: "Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pound ought and six, result misery." Just as true today.
Final score:
0points
#38
2 ways:
First, do you really, really need this, or just want it.
And second, just don't spend it. Just don't. Only go into a store when you need something.
Final score:
0points
#39
Cash is king... ask for the cash price when paying for services. I saved $700 on a plumber!
Final score:
0points
#40
Just don’t think about it. The more you think about it, the more you want to use it.
Final score:
0points
#41
1. Before looking to buy anything, ask yourself what you are prepared to pay for it. More than that? Walk away.
2. Don’t grocery shop when hungry.
3. If you get a pay rise but, you can manage on your old money, put difference away every month, From month one!
4. Sometimes paying more equates to spending less. Invest wisely.
5. Turn heating down by just one degree.
6. Keep a jug in the bathrooom. If you have a bath, use the grey water to flush the loo with the jug.
7. Turn lights off!
8. If you now work from home since the pandemic, speak to your insurers car and contents, they may reduce your policies, less risk of accidents and thefts.
9. NHS staff discount, either Health Service Discounts site or, Blue Light Card.
10. Scout around for vouchers.
11. 0% credit cards on purchases and balance transfers with offers like cash back. But be sure to pay it off every month, religiously.
Final score:
0points
#42
Share a house/apartment with someone and split expenses. Also, wear clothes for more than a day and you end up doing less laundry.
Final score:
0points
#43
I've got a few tips.
Take advantage of deals as much as possible.
Buy store brand, or no name products, when doing groceries.
If you need new clothing, either go to a thrift store, or buy from the clearance rack.
Cancel any memberships, or subscriptions, you aren't using.
Final score:
0points
#45
Those cash-back-for-receipts apps really do help sometimes. I like Ibotta (referral code: VUOXTJB) because I can go in and flag the deals I like once a week, shop as normal, and I have it set up to redeem offers I fulfill automatically.
Final score:
0points
#46
I stopped eating avocado toasts and ordering Starbuck lattes and within 6 months was able to buy a 600k mansion in the Hamptons
Final score:
-3points
What do you think ?
TheElementalGod️️ 1 year ago
summon money out of thin air. buy a palace. create golem servants. or are you talking about how you MORTALS can save money?
TheElementalGod️️ 1 year ago
summon money out of thin air. buy a palace. create golem servants. or are you talking about how you MORTALS can save money?
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