Money Management

SNB1014, RN · Dec 18, 2012

Also search out coupons...print them out from online, Google, your mailbox, sign up for free member saving programs for stores, etc. Be a smart shopper!

runner25 · Dec 22, 2012

I feel like I always get behind. I mean, I think talking about money is important.

I cannot work as often as I wish I could (every day!). Here's some random little things (for me, saving hundreds a month helps).

To me, the biggest expense is rent. I do not think I can afford 40-50% for rent. After that, I spend a lot of money on food. I'd rather cut back on other areas.

Look at any automatic expenses you have. Do you use the $10 magazine subscription, the $30 gym membership, the $20 online movies, etc?

Make sure you are not paying hundreds for prescriptions or more health insurance premiums than you need. A lot of plans cover 6 visits a year, and paying $50 a month for insurance versus $125 can make a huge difference.

Negotiate any possible cell phone or other bills. I know family plans can be hundreds of dollars a month.

Make sure you are not late on any library fees, DVD rentals, childcare pick up or anything where it is going to charge you more.

See if there are months where you are paying more utilities. In the summer, utilities are more, so see if you can start savings. If you start an emergency fund, you will feel like you have more money.

Eat less meat if you can, eat out one day less a week, eat grains and veggies only one day a week, drink more water, if you drink carbonated drinks (don’t buy them individually but in a case of 12 cans if you have to).

If you have errands like grocery shopping, use less gas by doing your grocery shopping only one or two times a week.

Don’t subscribe to anything online where you see something you can buy online.

Find something that will motivate you to save. Not just paying for grad school or paying off debt but somewhere you want to travel, something you want to do!

Also for me, I did not have a big limit on gifts. Giving $25 for a colleague's kid every month, giving $50 for someone's birthday, $ for Christmas, $50 for someone's wedding can add up if you're the type of person that gives without thinking. I know I spend less in summers (but the utilities go up and I buy more iced tea/coffees) than winters, but I try to plan accordingly.

Good luck!

itrust · Sep 7, 2013

I too recommend the "Total Money Makeover." However Dave's advice is radical (his words). If you want to take a more mellow approach, Suze Orman's 'Money Class' and 'The Money Book for the Young, Fabulous, and Broke' are also worth checking out. The premise of both authors is to get out of debt and save.

Proverbs 22:7

"The rich rules over the poor, and the borrower is the slave of the lender."