Saving money and cutting back

I'm spending too much lately - senseless spending. It's time to cut back. I've created a reasonable budget for myself, focused on paying off debt. By the end of this year, my savings account "bill" will be twice what I'm saving today.

Once I get into the Cheapest Way To Live mood, I get fascinated by how others save money - like running the dishwasher later at night, if your energy costs go down after a certain time of day.

I've cut back on services like cable, paid off my car loan, will have my credit cards paid off in 3 months, and so on. I've compared my insurance rates (I really do have the best deal right now), worked with my student loan people for an aggressive payoff plan, etc.

What things do you all do to cut back on bills and expenses? I enjoy living beneath my means, and I couldn't care less what the proverbial Jones family does or owns. I'd love to hear your ideas and smart strategies.

What things do you all do to cut back on bills and expenses?

I have an slightly egotistical, entrepreneurial attitude. I believe in that saying "get rich or die tryin". I'd rather make more money and have bills/expenses mean nothing to me than worry about "cutting back". It's worked pretty well for me for the past 5 years.

I have an slightly egotistical, entrepreneurial attitude. I believe in that saying "get rich or die tryin". I'd rather make more money and have bills/expenses mean nothing to me than worry about "cutting back". It's worked pretty well for me for the past 5 years.

But I also am pretty big on quality of life and try not to ever scale back too much. I will say that I'm 29 and still believe in the art of "pre-gaming." I'll have a couple drinks before I meet up with friends out for food and/or drink. Here in NYC, that saves you a lot.

Meetup.com has also been a great way to find events to socialize in that are low-cost or free.

I don't know, it's tough. I save up a lot of money in the second most expensive city in the US, so maybe I've never been a big spender altogether. Maybe tell us what you like to do / regularly spend money on and we can let you know what we might consider nixing?

Having ~any~ credit card balances that I'm not paying off the current month would mean I have a problem. I'd consider working OT or grabbing a second part time job until all balances are paid.

I'd ditch all cards except one for a road emergency and live on cash alone until all balances are paid. From there I'd use one card for groceries, planned expenses, and emergencies--and nothing would go on it that I can't pay same month.

I'd scan my home for recent purchases that I can return. Anything sellable would go onto eBay or a garage sale. I shop at Trader Joe's (after I compared a $123 grocery bill to the same purchases for $66). I'd lunch in at work and entertain friends at home or visit them instead of dining out. I'd challenge friends to find the cheapest things we can do for entertainment. I'd skip manis and pedi's and do my own hands and feet--or exchange those services with a friend.

Head high, and I hope you'll let us know your successes.

Stop spending money on "things"

Just buy what you NEED, vs what you want. Never go into a store without knowing EXACTLY what you are buying (no impulse buying) or without doing research on product/price PRIOR to arriving at the store.

I have an slightly egotistical, entrepreneurial attitude. I believe in that saying "get rich or die tryin". I'd rather make more money and have bills/expenses mean nothing to me than worry about "cutting back". It's worked pretty well for me for the past 5 years.

Bad adice. This type of thought is the best route to bankruptcy.

Entrepreneurs are not usually so careless with their money, if they wish to be successful.

I'd ditch all cards except one for a road emergency and live on cash alone until all balances are paid. From there I'd use one card for groceries, planned expenses, and emergencies--and nothing would go on it that I can't pay same month.

^^ This! Absolutely this. ^^

Never go grocery shopping when hungry. You'll end up buying way more than you need.

We are working on becoming as self-sufficient as we possibly can. Foodwise, we grow all of our own fruits/vegetables. We have chickens, so we have lots of eggs and chicken meat, and will be getting pigs and dairy goats later this year. We fish and we hunt. The food tastes so much better too! That's what we do; I realize not everyone has the space or means to do this. If you do have space, consider growing some of your own food. If not, you can still do some container gardening. I lived in an apartment for years and grew a bunch of vegetables on my balcony each season. I even grew watermelon one year (in a one-bedroom apartment!). And I don't have the greenest of thumbs.

We also play a little savings "game". Every time we get a $5 bill, we put it in a box. When the box gets full, we take out all the money and put it towards whatever we want: paying off an unexpected bill, or towards a vacation, etc. $5 doesn't seem like much, but it really adds up, and you really don't even miss it. This past summer, we ended up with $535. (Incidentally, we have noticed an odd shortage of $10 bills since we started the game. We frequently will get two $5's instead of one $10 back when we break money buying stuff. It's become a running joke now that a $4 chai latte will end up costing us $14 dollars due to the change we get back).

We also take a set amount every month and put it towards two different savings (a "spending" savings and a "non-spending" savings). We are getting married in less than a month and due to our "spending" savings, we will be paying for our entire wedding in cash. Granted it's an extremely small wedding, but still. The denominations are small enough that we really don't miss them, and again, it adds up.

Another thing I just thought of - gym membership. If you can get rid of yours and you're disciplined enough to workout on your own, do it! We got rid of ours and we now workout plenty for free: running, biking, hiking, farming, soccer, chopping wood, yoga, calisthenics. My "office chair" is one of those big round exercise balls.

Good luck!

Take lunch to work.

Don't buy tea or coffee out.. It really adds up.

I make my own laundry, dish, dishwasher and hand soap. I also make my own cleaning products. I don't mind my place smelling of baking soda and vinegar. I do my laundry using a Breathing Hand Washer and a salad spinner. I've cut my grocery bill down by making menus following the $30 per week grocery shopping plan. I make a lot of stuff from scratch. I buy storebrand items. I use cash whenever I can. It hurts more to watch cash flow from you hands. I unplug appliances when they are not in use. I also try to iron my clothes at the same time. All this stuff can be a pain in the short-term however I like seeing money in my account!

But I also am pretty big on quality of life and try not to ever scale back too much. I will say that I'm 29 and still believe in the art of "pre-gaming." I'll have a couple drinks before I meet up with friends out for food and/or drink. Here in NYC, that saves you a lot.

 

Meetup.com has also been a great way to find events to socialize in that are low-cost or free.

 

I don't know, it's tough. I save up a lot of money in the second most expensive city in the US, so maybe I've never been a big spender altogether. Maybe tell us what you like to do / regularly spend money on and we can let you know what we might consider nixing?

These are good ideas I'd forgotten all about Meetup. I should look into it - I've been wanting to try an easy sport.

I spend more money on yarn than anything else. I know - sounds crazy, right? I don't buy the cheap stuff. Think cashmere and angora. Knitting serves as my therapy, a social activity, and I give most of my projects away as gifts. I purchased 1 Christmas gift from a store this year - everything else was hand made. I feel like I get a lot of bang for my buck, but I do have more yarn than I need. So I've stopped buying any yarn unless it's for a very special project.

I was spending too much eating out, but have recently gotten back into my healthier and cheaper routine of grocery shopping and cooking.

Books is probably my other deadly temptation. I've quit buying them until I read what I have, and even then I can borrow them online from my local library.

Other than that, I don't buy very much. I drink at home, if at all. Once in a while I'll go pay some outrageous amount for a fancy drink, to celebrate something. I don't buy clothes often. I own 7 pairs of shoes in total for winter and summer, home and office. I keep a simple haircut - no dyes, and the sun highlights my hair just fine. I get a pedicure about every 3 months, and do it myself in between. I'm a simple woman...

...and I feel very rich in the ways that matter most to me. I've never felt like I was skimping on life by being frugal. I've just been careless lately, and I don't like the waste.

I love food, so I don't scrimp on food...ever. I love to eat well, so I don't save money there. I got rid of cable because I only watch sports and The Big Bang Theory and I can stream those online, for free! I share my friend's FIOS with her and pay half of her bill. So I get super fast internet for $20 per month. I downsized my apartment. I moved from a large apartment in a wealthy city to a smaller apartment in a nice, but not upper class, city. I like it better and that surprised me. I love clothes and jewelry, so I've found stores where I can buy both fairly cheaply. I always shop for bargains. I recently purchased a memory foam mattress topper of under $30 when a discount store I shop at had a sale. I but lots of things from the dollar stores and Walmart. I run my own business so if I see a major expense coming, I advertise and get another client for a short time. I don't drive a late model car. I shopped around and found really cheap health insurance and car insurance. Where I live, my utilities are paid, so I save a bundle there. Go cheap when you can, but don't go cheap on the things that are important to you. That's the secret to life and saving money.

These are all terrific ideas! Thank you

I've never had the option to be careless with money before. I'm ok with the decisions I've made over the past 6 months because it's reasonable to splurge a bit when you can. However, enough is enough, and now it's time to get back to fattening my piggy bank. My credit card debt was less than $2,500 at maximum, and much less now.

I guess I'm saying that I don't feel I'm an irresponsible person overall. I want to nip my recent behavior before it becomes a habit.

I'm lucky that I enjoy the domestic things - making my own stuff, knitting, gardening, cooking. I'm very interested in getting recipes on making my own cleaners. Is there a specific website you like?

I'm curious about big purchases, like cars and homes. I know there are clever tricks to get a better deal, or knowledge that's helpful so I don't buy extras I don't need.

When I was a kid, people took pride in being thrifty. Today it seems the opposite for a lot of people. Seems like we're losing the ability to re-use, use up, do without, etc.

I spend more money on yarn than anything else. I know - sounds crazy, right? I don't buy the cheap stuff. Think cashmere and angora. Knitting serves as my therapy, a social activity, and I give most of my projects away as gifts. I purchased 1 Christmas gift from a store this year - everything else was hand made. I feel like I get a lot of bang for my buck, but I do have more yarn than I need. So I've stopped buying any yarn unless it's for a very special project.

Nope! Doesn't sound crazy AT ALL. I'm right there with you, haha! I love crocheting, and I also like to give my projects away as gifts. For Christmas this year, my Fiance got me...a LOOM! I am in heaven. I've been weaving to my heart's content. And, we're planning to get some alpacas this year too, so we can start harvesting our own fiber at home! So yes, I can relate to your yarn stash.

Books is probably my other deadly temptation. I've quit buying them until I read what I have, and even then I can borrow them online from my local library.

Fellow bookworm! I totally understand. Good job not buying anymore until you read what you've got. And yes, the library is a great resource.

...and I feel very rich in the ways that matter most to me.

 

That's a truly wonderful place to be. You sound quite balanced!

These are all terrific ideas! Thank you

 

I'm lucky that I enjoy the domestic things - making my own stuff, knitting, gardening, cooking. I'm very interested in getting recipes on making my own cleaners. Is there a specific website you like?

 

When I was a kid, people took pride in being thrifty. Today it seems the opposite for a lot of people. Seems like we're losing the ability to re-use, use up, do without, etc.

I don't use a particular website. I normally look them up in google or on pinterest. I try to find cleaning product recipes with the things I already have at home. Usually the recipes I call for Borax, Washing Soda, Baking Soda, Vinegar, Castile Soap(Dr. Bronner's is the one that is most readily available) and Fels-Naptha for in my laundry detergent, you can also you use Zote brand. If you need any I have a whole bunch memorized. lol!

The easiest all-purpose cleaner to make is made with water and vinegar. It is simple 1 part vinegar to 9 parts water, such as 1 fluid oz vinegar to 9 fluid oz water.

Ahhhh, a fellow fiber lover, lol If you're over on the R site, and feel ok with it, PM me and I'll send you my screen name. The loom sounds fantastic, and I'm suddenly struck with alpaca envy!! That would be amazing!! I haven't learned to weave or spin (yet), but plan to some day.

It's still funny to me how I immediately defend my knitting, like everyone assumes I'm using burnt orange and olive green acrylic for a tacky blanket or something, lol. My coworkers learn better real quick - I wear hand knit socks and scarves/shrugs to work. I also give them a pair of socks...it keeps the criticism and jokes at bay. So now all I hear is talk about my teeny tiny stitches, and what their favorite color is - in case I want to knit them more socks. Makes me laugh, and feel good. I absolutely adore the expression on their faces when they put a pair of homemade socks on. Pure bliss, and amazement. I'm not sure why - do people really think Walmart can make a better pair of socks than a knitter?

Ahhhh, a fellow fiber lover, lol. If you're over on the R site, and feel ok with it, PM me and I'll send you my screen name. The loom sounds fantastic, and I'm suddenly struck with alpaca envy!! That would be amazing!! I haven't learned to weave or spin (yet), but plan to some day.

 

It's still funny to me how I immediately defend my knitting, like everyone assumes I'm using burnt orange and olive green acrylic for a tacky blanket or something, lol. My coworkers learn better real quick - I wear hand knit socks and scarves/shrugs to work. I also give them a pair of socks...it keeps the criticism and jokes at bay. So now all I hear is talk about my teeny tiny stitches, and what their favorite color is - in case I want to knit them more socks. Makes me laugh, and feel good. I absolutely adore the expression on their faces when they put a pair of homemade socks on. Pure bliss, and amazement. I'm not sure why - do people really think Walmart can make a better pair of socks than a knitter?

I am aware of the site and know a few people on it, but never actually made it over there myself - I'm just not super active on message boards (case in point here, just look at my post count vs my join date But someday I'd like to check that site out. I'll definitely PM you for a screen name when I do!

The loom is wonderful, and so much fun. It's more involved than I thought it would be, but at the same time, it's not as hard as I thought it be, if that makes any sense! I think you would really enjoy it, since you like working with yarn. I've asked for a spinning wheel for my birthday, so I'm excited to try that out too. And the alpacas will be totally new to us...we're researching everything we can about them right now. Coincidentally, I recently found out that my coworker's sister's boyfriend's father (good grief, that was a lot to type out lol) used to be an alapaca farmer! I had a nice phone conversation with him and got some really good information.

That's so nice that you bring in gifts for your coworkers! And hahaha, I know exactly what you mean about people "randomly" throwing out their favorite colors! Hint hint, wink wink anyone? I don't mind though, as I love giving items as gifts too.

You raise an interesting point. I DO think that people are so accustomed to buying things off the shelf from Walmart that their surprise at the quality when they receive a handmade gift is...to be expected. That's why I'm really into self-sufficiency - I think it helps me to have a stronger appreciation for how things are produced. I'll take handmade any day.

I applaud your passion for your hobby, and I adore hand knits, crochet and weaves. My next-door co-worker learned crochet only last year, but she's especially talented, and like you, she's always experimenting with beautiful yarns.

I purchased all of my friends' Christmas gifts from her Etsy shop, and I'm proud to be her number 1 customer. I probably wear at least one of her items every. single. day.

Keep it up, HOH!

Cat