The best way to save money

[adamh]

So I want to put just as much money in saving this year as possible. Winters around here can be slow and by mid Feb you are dipping into saving pretty good. I had to make pay roll out of saving this year and it made me nervous.

What are the best things you have found to really save money? Do you think the economy will hold up or are we in for a melt down?

I have figured out I am spending waaaaaay too much on my lunches. Bringing a sack lunch everyday would pay for the family vacation every year.

 

[Lee Stockwell]

Skipping the family vacation every year would pay for your lunch every day!

 

[Mikey P]

I'm going to sell the big trucks and get 4 portables and some pick up trucks
I'm down to a handful of food a day
I'm going to sell this gigantic house and down size
I'm going to learn to eat meat again cause when the economy tanks next time we'll be eating each other.
The Zep line of cleaning products is good enough for me.

 

[Chris A]

I didn't really start saving money until I started having it automatically deducted every month like any other payment. Been

 

[Chris A]

*doing that for about 5 years now

 

[adamh]

every time I do a deposit I just put some of it in savings if I don't do it then it never gets put in

 

[Desk Jockey]

Eating out. Its too expensive when we go any where as a family.

We were up to 3-4 times a week. We cut back 1-2 times and I feel better about it. Although its been a tough year sleding for the kids and the wife.

 

[FB7777]

Save early and often

Automatic withdrawal every month , Max out SEP IRA

Bagged lunch every day

My newest work or personal,vehicle is a 2010

Paid off everything

It isn't rocket science, but unfortunately people are sold far too many things they don't need and actually deprived their happiness rather than enhance it due to the debt obligation every month

 

[hogjowl]

I grow most of my food and pissed off the neighbors. That way I don't have to share.

 

[adamh]

The best thing I ever did was start paying cash for all my equipment. I owe nothing on anything. I talked with a guy my age and he had his house paid off. It got me thinking how nice it would be to not have a house payment.

 

[FB7777]

Mama says debt is the devil

 

[Mikey P]

how is it possible that you, Mr Hale only have 266 posts here?

 

[Hoody]

I agree with Chris - having bills automatically withdrawn helps a lot. It is nice NOT having to worry about what is due when, plus many places will discount your bills if you do. Check into paperless with all of your bills too as a lot of companies tack on small fees to send you paper billing. I saved just over $500 last year setting up auto payments and paperless billing.

Eating out less has helped a lot.

I do still use credit but manage it well. There are a lot of cards that you can get that offer 0% interest for 15 months and I have 4 of them at various credit limits. I use them for small purchases that I need in between when my invoices come in. It's been a great credit builder too and when cash may be tight until the end or beginning of the month you have something to help.

When I was young my dad always told me to pay myself when I get paid. So I always take 10% of what I make and put it into savings. Doing so I was able to purchase a rental home and that has added nicely to my income as well.

 

[Mike Draper]

every time I do a deposit I just put some of it in savings if I don't do it then it never gets put in

I do the same thing Adam.

 

[jcooper]

What are the best things you have found to really save money?

Don't let my wife know I have it!

 

[ronbeatty]

After paying for three children to go to private out of state universities, it was nice to pay off the house. No car payments, no credit cards, makes the winter a lot easier.

 

[Nate The Great]

That's easy, move to a place that doesn't have winters.....

 

[Mike Draper]

Nate, do you live on the big island?

 

[Mikey P]

No, Oahu..

 

[hogjowl]

I can't WAIT for my last child to get out of college this December! I may actually be able to pay off the house and save some money then! If I knew then what I know now, I'd have gotten married at 15 and had my children IMMEDIATELY!

 

[Zee]

It is really nice not to have any debt and the need to worry about it....other than the real estate deals. My newest vehicle (personal and work) is 2007 and I don't feel pressured buying brand new...I want to but I know I don't really need to.

I'm working on getting one house mortgage free and then I will feel even better.

 

[Nate The Great]

Nate, do you live on the big island?

Oahu as Mikey said.... Big Island is too spread out and slow paced for me... I do have an acre and a fourth land there though, from my great grandpa...

 

[Desk Jockey]

Old people and hippies?

 

[Nate The Great]

Old people and hippies?

Pretty much... I still believe the outer islands got the best looking girls....

 

[Wandslinger]

Being debt free will be the best move. I'm a huge follower of Dave Ramsey and listening to him convinced me to do just that. Biggest help, get on a written budget. Make every dollar have a name. Dave Ramsey just came out with a free computer program, plus an app. 3 years and 3 million bucks to make it. Go to www.everydollar.com . At the last Mikeyfest, Saiger and I were talking about Dave Ramsey and he is on the same program. Maybe we can get him to make a video testimonial, lol.

 

[Desk Jockey]

Saiger

Saiger? Our Saiger? The guy with Lockhart disease?

 

[Zee]

I used to listen to Dave Ramsey and bought his books... And realized that there is nothing extraordinary in his teachings because it's all common sense. I grew up back in Europe and was raised with those same principles.

 

[Chris A]

I think a lot of people (not here) use the "no debt" spiel on people to disguise the fact that they are broke dicks. In the end if you map out where you wanna be and follow that plan what you do with the rest of the money is up to you. Have debt, don't have debt, at today's historically low interest rates who gives a shit?

 

[ronbeatty]

Chris, When you get a little older ( like 55 plus) and a lot wiser you will understand the freedom that comes with a debt free lifestyle.

 

[Able 1]

Yeah, some debt is smart and some is stupid. Income properties and putting 10% of every deposit into savings, smart! If you owe on(interest) credit cards, and put 10% into savings, most of the time is stupid..

I believe paying more on my mortgage rather then putting it into savings is a better plan for me..