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What is the best way to make a budget so I can save money?

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Well, I'm thrifty by nature. So savings my thing.


First, take a look at where the money is going. Are they going to essential things that you have to have or to things that you can cut back on? Start by listing out the things you have to pay for - rent, utilities, things like that. From there, break it out into categories. Take food. You have to eat, so you need to set some aside for that. But do you need a lot of snack foods if you are buying it? Do you spend a lot going out to eat all the time? Do you need expense brand names or can you go with the cheaper kind that is still just as good? Take advantage of sales and good deals.


Do you shop a lot and spend on items that you don't really need? I know a few shop a holics, and that can be a drain on the wallet. Reserve credit cards for emergencies, its always easy to pull out a card and buy when you don't need to. Limit the cash you carry on hand, so you aren't tempted to spend it as much. Basically, its a matter of separating the essential items from the non essential and cutting back on the things you don't need.

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Well, I have made a hobby out of spending as little as possible. That might help. I am currently in a situation where I lost my income alltogether (don't worry, I am on the right track!), and now it comes in quite handy that I have a few financial reserves.


* go to the cheapest supermarket you can find. In Holland these are the German chains: LIDL and ALDI. I am sure there are UK/US variants as well.

* If not, the normal supermarket will have the cheapest goods stored at the lowest level. Mind you, I am over 6 ft tall and the bending isn't always nice haha.

* circulate clothes with friends that have similar sizes and tastes. My former housemate and still best friend have swapped our wardrobes regularly!

* be happy with what you have. Spend on things that you need or that are really good for you (like sports), but not on another pair of shoes that you don't need.


et cetera!



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I have been in debt for the last 15 years. I was working my way out very slowly, but decided to really buckle under with a goal to live on half my income, with the remainder going toward paying off debt. Regardless of how little or how much you make, any change in lifestyle like that is pretty tough, however, I am now used to it and my life is actually much simpler.


There were so many ways to save money, that I listed them out and then just started picking one or two to work on at a time. Here are some of the things that I have done:


1. Moved from a 3 bedroom house to a 1 bedroom apartment and sold off enough things so that my stuff would fit comfortably.

2. Budget money on a daily basis... for example, only have $20 in cash on me each day. At the end of the day, I take the excess and dump it in a jar, that's my bucket o' cash that I can use on weekends if I want to go out or to save for "big expenses" (oil change, vet, dentist, etc).

3. Started going to the library instead of buying books.

4. Stopped buying coffee out, making it and taking it in a cup. (when you have $20, I save about $3 this way... that's 15% of my daily budget)

5. On Sundays I make a big pot of a hearty soup that costs about $5. This will technically last for about 3 days, though I space it out.

6. Stopped eating out. I will eat at home, if I go out to enjoy a restaurant, I just have an appetizer.

7. Drink water instead of soda or beer

8. Drive less, walk more

9. Pay things in advance for a discount (like auto insurance)

10. Whenever I want to buy something, I make myself wait at least 24 hours and then decide whether I still want it


Well, these are just a few things. Anyway, if things stay on track, I will be out of debt this April... I'm very excited about it.

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Live below your means. You know why some millionaires file for bankruptcy? Because they make $10 million and spend $20 million.


• Don't get the roasted duck with the mango salsa.

• Don't buy everyhting you want. Just get what you want the most.

• And lastly, open a savings account and don't touch it.

• Mail the money to me. I'll save it for you.

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  • 2 years later...

Searched through the forum and bumped into this thread, very good tips!


What do you guys think about throw away the love of privacy and move into a share house? Ups and downs? Worth it? I'm living in a small unit, though I have a enough left to spend on little things but it's not helping me topping up my account at the bank.


And what do people think about 29 year old living in a share house?

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Well, privacy is the last thing I'd give up for money, but if it's the last thing possible, sure. I lived with housemates but in a room with my own facilities for 9 years prior to moving in with my bf.


The thread is old, lol... two years ago I was without job for a month, now I am working and living together, and I am proud of my savings account!

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