Lifehack.org Giveaway, Week 4: We’re Not Done Yet!

Barbara says on January 24th, 2008 at 11:07 am

Make a grocery list based on your household needs and the sale papers, then STICK to it. And of course, don’t go grocey shopping hungry!

Eric says on January 24th, 2008 at 11:09 am

My budgeting tip is don’t spend more money than you have.

Tim says on January 24th, 2008 at 11:15 am

Keep all your receipts if you can’t then write your own, I put mine in my wallet. At the end of the day, take all the receipts and make a list of everything you bought that day. At the months end, organise that list into groups and make a chart of how much you spent on each group.

This will give you some feedback on how well you manage your money and help you resolve not to buy things you shouldn’t.

Yvette says on January 24th, 2008 at 11:28 am

I downloaded the PearBudget.com free budget spreadsheet, ( http://www.pearbudget.com/spreadsheet/. ) to track my spending. They also offer a web based budgeting program, that I think are fantastic tools.

I personally, love to eat out ALL the time. Starting a diet has forced me to track what i eat, much like a financial budget. That has also helped me to eat out less and cook more at home. It saves me at least $100 every month.

Yvette says on January 24th, 2008 at 11:33 am

Also, I’d like to add that I have my budget spreadsheet uploaded on http://docs.google.com, that way I have access to my up to date budget whether I’m at home or at work.

Chris says on January 24th, 2008 at 11:42 am

While living within your means is definietly important, I think that there is too much emphasis placed on scrimping by so that you can “enjoy” retirement with what you have saved.

Keep track of your cashflow, and make sure that you are not consuming more than you are earning. I say consuming instead of spending because it is most definitely to your benefit to spend as much as you can, if you are buying assets and creating a return on that spend. Examples would be real estate, marketing efforts, websites, stocks, anything that creates profit.

Consume well within your means while focusing on expanding your means, and you’ll live a much more financially rewarding life.

susan g says on January 24th, 2008 at 11:44 am

The best tip I have to make sure I have money to put in this great wallet - is to really think “Do I NEED this” before buying anything. I don’t NEED to buy lunch (I can bring it from home), I don’t NEED to buy pricey clothes when I can shop at the thrift store, and I don’t NEED some of the cr@p at the supermarket, no matter how flashy the display is.

I keep my “eyes on the prize” of paying off my debt and perhaps retiring early and that keeps me very focused.

Of course the side benefit is that by living frugally and only buying what we really do NEED, we’re also helping the enviornment.

Scott says on January 24th, 2008 at 11:46 am

I have one word for you: Cash. Use actual cash money, rather than your credit or debit card to pay for your expenses. It turns out to be a rather simple method for living within your budget. If there aren’t any more bills in your wallet, there’s no more money to spend, and that’s it.

Drew says on January 24th, 2008 at 11:47 am

I prefer simple.

- Have my paycheck direct deposited
- I add up all the things I *must* pay each pay period. Each of these are paid via check or online bill payment. Paying myself (savings) is one of these.
- I take out all the rest of that paycheck’s money in cash.
- I have a simple cash budget that says: Keep enough for gas, groceries, taking my kids out to eat, anything I know I will spend, then hold back a little more just in case.
- SPEND THE REST OF MY CASH HOWEVER THE URGE HITS ME

End of paycheck

Niranjan says on January 24th, 2008 at 11:52 am

Spend less than that you have earned!

Biggest advice which many don’t do…

Matt says on January 24th, 2008 at 11:54 am

My suggestion would be to track everything that you spend money on that is not considered a “need”. In other words anything that could be considered excess. Add this up and recognize that these are expenses that you can do without, without changing your life. Then take this information and make sure that you are giving away as much or more to others and other causes than you are spending on these “wants”.

This may be too ideological but it is a concept that could really help some people out I hope!

Marijn says on January 24th, 2008 at 12:06 pm

Stop watching commercials! Since I’ve got a PVR I stopped watching commercials. Now I don’t choose something ‘because I saw it on TV’.

Justen says on January 24th, 2008 at 12:14 pm

USe the 10-second rule. Whenever you’re about to buy something,a sk yourself if it matches up with your life goals or would bring you closer to them in any way. Give yourself ten seconds to think about it before picking it up. Many times you’ll find that it’s not an item you’re not truly interested in getting.

Sean says on January 24th, 2008 at 12:21 pm

Avoid talking to salespeople, if at all possible…their best interests are not necessarily yours.

Jessica Ouvrard says on January 24th, 2008 at 12:27 pm

Pack your own lunch, you could easily be saving $600-1500 per year, and that’s being very modest.

Norabear says on January 24th, 2008 at 12:28 pm

Bring your lunch to work rather than buying it.

Jesse says on January 24th, 2008 at 12:32 pm

I have found that unsubscribing from the “deals of the day” type feeds has made a real difference. Often times I come across some great deals, however, I usually don’t *need* that particular item. I tend to be a fairly impulsive shopper so the constant stream of deals to my desktop coupled with the ease of purchasing through the internet is a tough combination to overcome. Best to eliminate the temptation.

Brenden says on January 24th, 2008 at 12:33 pm

Keep track of what you’re earning and spending (I use You Need A Budget) and make sure you spend less than you earn.

Oh, and take advantage of any employer matching in retirement accounts.

Mark says on January 24th, 2008 at 12:43 pm

Sleep on it!

Give yourself a nite to think about it (and shop around on price sites).

If you still need it, then go back for it.

Adam says on January 24th, 2008 at 12:43 pm

Pay the balance on your credit card every month. This results in a huge savings on interest rates, and you can still earn bonus points or airline miles.

Melissa says on January 24th, 2008 at 12:44 pm

Set up all recurring bills (mortgage, electric, water) on autodraft - you don’t have to think about them and you won’t accidently forget and get slapped with a late fee.

BYOB says on January 24th, 2008 at 12:47 pm

To plan my money, I have an excel file that’s broken up week-by-week until 12/25/09 (it’s broken up by year after that). After having used it for 8 years, it’s now pretty well tweaked to account for all predictable and known upcoming expenses such as taxes, insurance, groceries, gas, mortgage and car payments, utilities, gifts, donations…. everything. The hard part is not to stray from it. We use cash for everything that is unpredictable, like our weekly “mad money.”

If you’re a parent of younger children or pets, play with them. It’s great for the psyche of everyone involved. Also, their toys are cheaper and easier to replace than yours. Keep their selections simple but interesting. My 3 y.o. would rather me read him the same book over and over or use me as a jungle gym than play with his new GeoTrax trains, anyhow.

Matt says on January 24th, 2008 at 12:58 pm

My wife and I due a subtraction-based budget, where we figure out the total we’re allowed to spend on a variety of expense categories and then on Thursdays and Sundays subtract what we’ve spent based on saved receipts.

We then tabulate and keep track of this on a spreadsheet we’ve printed out and put on the fridge, as a daily reminder to be frugal wherever possible. (We take it down when company comes over, though.)

Chris says on January 24th, 2008 at 1:02 pm

Put a short list of money rules up. It can be simple things like “pay me first” i.e. the Wealthy Barber’s 10% rule.

The most important one for me is controling my credit cards. “If it goes on the VISA it’s gotta come off within 48 hours!”

I posted my list here.

Peter says on January 24th, 2008 at 1:18 pm

1 word: vasectomy.

Almin Surani says on January 24th, 2008 at 1:26 pm

Never go grocery shopping hungry. You end up buying things that you normally would not eat. Mmmm…deep fried pork rinds

DC says on January 24th, 2008 at 1:35 pm

Review your budget regularly. Having your budget fresh in your mind helps curb your desire to blow cash. Plus there is no better motivation than to see your debt shrink or your savings grow.

Jeremy says on January 24th, 2008 at 1:39 pm

I use Mint (http://mint.com) to keep track of all my expenses. They will pull data from all your accounts and keep track of what you spend. If I spend more than usual in a certain category, I get an email alert telling me so. I find it indispensable.

Rosano says on January 24th, 2008 at 1:47 pm

to enter, leave a tip for your fellow readers about living within your means and keeping a budget.

Managing your money can be difficult, because it’s so easy to spend what you earn. A good way to live within your means is to buy things that will give you something back in a money, entertainment, or productivity form. If it makes your life better to a point that it’s worth the cost, buy it. Otherwise, see if you can live without it. My highschool teacher always used to tell us, “If you’re not sure of whether or not to to something, talk yourself out of it, and then talk yourself back into it.” That way you will have reasoned on both sides and should make a good decision. Applying it to the financial side of life will probably help as well.

Good luck!

Mark M. says on January 24th, 2008 at 1:48 pm

Save credit cards for things you actually need right now - you need gas for the car, you need to have printing done, you need food. You do not need a television, that new bestseller, or indeed any other luxury.

By using credit you effectively reduce the value of the money you spend, so don’t do it unless it’s a sacrifice you’re actually prepared to make.

Lance Moore says on January 24th, 2008 at 2:17 pm

Create savings accounts for individual goals on ingdirect. Makes seeing $ accumulate easy.

Derek says on January 24th, 2008 at 2:19 pm

There’s a certain creative shift to living on a budget, but it’s a leap when you flip the model around and decide how you’d like your lifestyle to be and search for ways to finance that dream. Budgeting should be that exceptional time as you are hunting for new opportunities. At some point, the amount of costs you can cut will level off but you will never reach an income ceiling.

Jon says on January 24th, 2008 at 2:19 pm

Use everything you have, waste as little as possible. You spend a lot less since you get more out of what you have.

matt says on January 24th, 2008 at 2:22 pm

i direct deposit my check and have it put in three separate accounts - one for half of my rent, one for half of my car payment and insurance, and the remainder for all my other expenses. the housing and auto expenses are auto-deducted, and i get paid biweekly, so twice a year i get one payment ahead on those three expenses, and take the additional payment and put it in my savings. it’s like found money.

Troy says on January 24th, 2008 at 2:29 pm

Save more money:

Wise men say that you spent most of your money on things that have the highest value to you. If you spend more money on eating out, drinking alcohol, your dog, what have you, you can really tell what kind of person you are. Have your money reflect what you are. You can’t take it with you to your death but save money and money will save you. Don’t overspend. Use Spendview.com to review your finances. Respect money. It’s not about how much you make it’s about how much you save. Auto-draft your savings into a savings account such as ING Direct. Understand marketing and how people are trying to advertise and market to you everyday. Exercise, do a hobby, save your money. Your going to need it.

Jayson says on January 24th, 2008 at 2:35 pm

My wife and I use an online “envelopes” style budgeting tool. It’s called Mvelopes and it has worked awesomely for keeping track of our finances - it syncs with your bank and even auto distributes when you get a paycheck.

http://www.mvelopes.com

Tim says on January 24th, 2008 at 2:42 pm

-Use cash for most of the everyday purchases that you make - a thinning wallet is a much more effective reminder of how much you’re spending than a monthly bill.
-Keep track of your purchases in a spreadsheet or some sort of organizational system; also, make sure to send in rebates on time.
-Do your research before your purchases - buying the cheapest option often ends up costing more because you have to replace it much faster. It’s worth spending a little more for something that will last you twice as long.
-Make the most of what you have instead of jumping at the first chance to upgrade it to a shiner, flashier model.
-If you’re under budget, it won’t hurt you to save that extra money instead of feeling obligated to spend it.

Jordan says on January 24th, 2008 at 3:18 pm

Walet haiki is
becoming more dificult
as the contest ends

Jordan says on January 24th, 2008 at 3:19 pm

Wallet haiku is
becoming more difficult
as the contest ends

Hamish M says on January 24th, 2008 at 3:28 pm

Spend less than you earn. Pay yourself first. And regularly put money into savings, even if it’s only a little.

It sounds simple, because it is.

Chris says on January 24th, 2008 at 3:30 pm

That old favourite: make a shopping list, you’ll be less tempted to buy anything frivolous that isn’t on the list already and less susceptible to impulse purchases.

Joe says on January 24th, 2008 at 3:34 pm

Don’t eat out, prepare your own meals, and start with real food - produce, grains, legumes. It’s the best option for your health AND your wallet.

Eric Vass says on January 24th, 2008 at 3:38 pm

The method that I use to keep myself on a budget is to have two separate checking accounts; one for regular monthly bills/payments and the other for discretional spending. I have my paychecks deposited into the regular bills account and transfer a fixed amount within my budget to the discretional spending account every month. This keeps my spending in check quite well. If there is a big purchase that I am planning, I make myself wait until my discretional account reached a balance where I can afford it. By forcing myself to make purchases from the smaller balance and budgeted account, I am not tempted to spend more than I should.

Jim says on January 24th, 2008 at 3:39 pm

Have a plan. I used to say I have $x.xx left, what can I buy. Now I say I want this, I should save $x.xx for that.

Anna says on January 24th, 2008 at 3:50 pm

I direct deposit my paycheck to a high interest bearing savings account so that it starts accruing interest immediately.

david sellers says on January 24th, 2008 at 3:57 pm

wishing for more just drains what you have.

Matt Sokoloff says on January 24th, 2008 at 4:03 pm

Best thing I do is to use Mint.com and keep it updated.

Mike Vardy says on January 24th, 2008 at 4:18 pm

I have found that using the “envelope system” is the best form of controlled spending.

Here’s how you do it:

1. Get several regular-sized white envelopes.

2. When you get paid, divide the money into teh envelopes.

3. Write random people’s addresses on teh envelopes, put the appropriate postage on them and mail them out.

This accomplishes both controlled spending and tithing - all in one go!

garrett says on January 24th, 2008 at 4:41 pm

The best budgeting advice I’ve come across is keep only a couple of credit cards, have strict restrictions on what they’re to be used for, and make sure to pay them off in full every month, or sooner if you can.

If you can manage that simple criteria you’ll be TREMENDOUSLY comfortable in life and will able to start tackling bigger, vastly more productive goals like preparing for a major purchase (property, vehicles, trips, etc), planning for retirement, setting up family members, and many others as well as the nice little benefit of knowing debt is diminishing and you’re on the road to fiscal responsibility (which a LOT unfortunately don’t comprehend).

It’s easy: Don’t use a lot of credit, and pay it off when rack it up.

Barbara says on January 24th, 2008 at 4:46 pm

Before you spend any amount of money, think about how many hours it took you to earn that amount…then consider if it is still worth it.

CY says on January 24th, 2008 at 5:02 pm

Determine what percentage you’re going to stow away for major purchases/ savings. Then set away enough to pay off the fixed bills (rent, utilities, car payments, etc.) The rest on a dedicated credit/ debit card for daily purchases such as groceries and incidentals and get the balance emailed to you/ sent to your mobile phone. You can see every morning how much money you have left for the rest of the month without having to worry about the big stuff because you’ve already paid those off. That also means that if you’ve been frugal the beginning of the month, it’s like having a little windfall at the end of the month for some rewarding shopping for fun stuff like new gadgets/ clothes. No guilt involved!

Derek Wong says on January 24th, 2008 at 5:05 pm

When keeping track of credit card purchases, put them into your checkbook as soon as the transaction occurs. That way the checkbook will always have how much money you actually have while letting you freely pay off your credit card when the time comes.

Michael says on January 24th, 2008 at 5:07 pm

My only advice that has worked really well for me is to stop reading flyers or any advertising. I found that by turning my back on advertisements, I eliminated the pointless “wants” from my life. I no longer think about what I don’t have, or wish I had, and am generally much happier. Although I do “want” and “wish I had” a really nice wallet. =)

Chris White says on January 24th, 2008 at 5:18 pm

Having had to stick to a really tight budget over the last couple of weeks I had a good deal of success with this tip.

First, starve your wallet to gain some momentum. Take everything out of your wallet, all cash, change, checks, everything that can be used to purchase something. Now pick one card or a small amount of cash to be used for gas if you have to drive at all. If you only take public transit or can walk to work all the better!

One idea I haven’t tried might be to go to a grocery store and get a prepaid credit card and buy one for as close to the amount you need for transportation as possible. While you’re there get whatever food & drinks be needing since you’re not eating out. Decide your budget before hand and check your pantry and fridge before hand so you don’t get anything you don’t need.

Now, don’t spend anything that isn’t a bill or transportation for a week. If you can make it through the week you’ll feel awesome at the end of it! But remember, if you’re doing this to gain momentum you’ve got to keep moving forward. Set a new budget and repeat the process, but give yourself a little bit of extra breathing room.

No cheating! Just because you Amazon has your credit card our you can use PayPal online without pulling something out of your wallet doesn’t mean it’s fair game.

Chris White says on January 24th, 2008 at 5:22 pm

Oh, I forgot to mention, that for a lot of people, the trick I just posted has the double benefit of also keeping you eating healthier if your a person that goes out to eat a lot. I find myself eating a lot more healthy food if I’m making it myself, probably because I’m decided what to eat before I’m hungry.

Judy says on January 24th, 2008 at 5:23 pm

hope this is the weeeek!

CS Kim says on January 24th, 2008 at 5:33 pm

I leave my credit cards in a special hiding place at home. I don’t carry them around with me and that has cut down almost all of my impulse spending.

Penny Morris says on January 24th, 2008 at 5:36 pm

I’ve just heard about mint.com to manage and track your spending!

D. Huber says on January 24th, 2008 at 5:47 pm

Pay off all of your credit cards. Cut all but one (the one without fees) up. And pay that one off every month.

If you can’t handle the “always pay it off” tip, then cut that one up too and use cash or debit.

James Zhao says on January 24th, 2008 at 6:13 pm

Credit cards: use sparingly. What I do is put my credit cards away in a drawer with a combination lock. So whenever I want to make a purchase, I ask myself how important it is, and if I really need my credit card for it.

Leonard Klaatu says on January 24th, 2008 at 6:36 pm

Substitute water for other beverages.
Walk when you can. Or ride a bike.
Reduce your eating out by ONE meal a month (and invest that amount into your 401K).

LK

Kevin X says on January 24th, 2008 at 7:26 pm

me wantey

Rob says on January 24th, 2008 at 7:29 pm

Wait. Don’t buy. I find most of the time I really don’t ‘need’ something I ‘want’. Wait and you’ll either forget about it, or find something else you’d rather spend your money on. And if not, then maybe you do ‘need’ it. Just take the time to consider it and do your research.

Katie Jennings says on January 24th, 2008 at 7:40 pm

Don’t go shopping as a student. Just don’t. Ever.

Wai says on January 24th, 2008 at 7:51 pm

My best advice is to not get a credit card in the first place, to save you from getting into consumer debt later in your life.

PT from Prime Time Money says on January 24th, 2008 at 8:12 pm

My biggest tip would be to focus your time on the big ticket/fixed spending first. Try to eliminate those first. Then, work your way down to smaller/discretionary spending.

Above all else, WRITE IT ALL DOWN so that you see it and know where every dollar is going.

Guess that’s more than one…sorry. Hope I win!

Amy says on January 24th, 2008 at 8:25 pm

Buy some things used. There are quite a few things that are just as good secondhand as brand new, like books. Also, don’t forget to network and share resources. There are so many places online that offer much better deals than the local brick and mortar in your town, so if you find a good deal, spread the word!

Brian says on January 24th, 2008 at 8:59 pm

Track all of your purchases in Excel. It’s really not that complicated, and will save you a bunch.

Robin says on January 24th, 2008 at 9:41 pm

I made a decision to live a very simple life. I eliminated clutter, redefined my priorities. It’s so much more enjoyable. It was a matter of deciding what is important, making choices.

Some things I do:

1. I love clothes. But I know I can’t have everything I see in the stores and catalogs. When I receive a catalog that has things I really want, I fold the corners down, then put it away. I find that a week later, it’s not that special, and toss the catalog (I suppose I could do that in the first place!).

2. Living within my means requires making choices. I choose what is important. It changes sometimes, but making choices, instead of just doing and getting everything keeps my life simple, uncluttered, and within a tight budget.

3. I only use my credit card for food. That way I can watch what I spend on food, cut extravagant spending such as eating out too often, decreasing the purchasing of “luxury” foods. But allowing an occasional “treat”. It makes the treat so much more enjoyable!

4. Sometimes when I see something I really want, and it might make things tight, I put it off until the first of the next month. Most often I find it is no longer so important.

5. I try to do things that are free–walking, going to the park, taking photos during walks, etc. Simple and fun!

I have really learned (the hard way) that simplicity is the key. The world moves so fast. Being in the moment, slowing down enough to enjoy my surroundings, choosing carefully, having a clear idea of what is a “need”, what is a “want”–hard at first, easier and almost automatic with time and practice. I appreciate things more than ever in my life! And I stay within my limits on my budget.

karen says on January 24th, 2008 at 9:42 pm

I have a serious book addiction - not a good thing for someone who works in a library. The library is never enough, so I buy books, compulsively. There are not enough hours left in my life to read them all. So my budget tip - which sometimes works - is this. I keep a running list of books I am interested in on Google notebook. Once they are written down with subjects, call numbers and all pertinent information, I save the notebook, and promptly forget about it.

Amazingly, I have only bought 1 book from that list of 50 books. Unfortunately, I also have a list of titles permanently in the Amazon shopping cart and the Amazon Wish list. But the wish list I seem to ignore as well.

I want a wallet to store my book money in!

Russell says on January 24th, 2008 at 9:51 pm

While there is a lot of emphasis on careful tracking of expenditures, in my own experience I found it was a hard jump to make to go from no tracking at all to such detailed record keeping. I found then, and still do find, that keeping track that closely is simply too much tedium.

For me, an easier first step was to first spend 30 seconds guessing a reasonable per-week amount to spend, and then every Monday allow myself access to that week’s amount. Money unspent I’d roll over into the following week and doing this helped make me a lot more conscious about what I was spending on. The first few weeks I guessed really wrong about my budget, and tweaked it over time as I got a better idea of how much I was spending.

Mostly though, the act of being mindful of expenses started me towards consciously making good choices on what I wanted to spend money on. It was months before I actually got around to keeping receipts and looking at expenses in detail. When I finally did more detailed tracking I found I’d already gotten a pretty good start at pruning out excesses.

After a while I dropped the detailed tracking because as I said at the start, it’s a pain to do and I’ve got a pretty good grip on my spending these days.

Brooke says on January 24th, 2008 at 9:57 pm

I do the same as Karen above, but I take her one better and seriously utilize not just interlibrary loan which I can do on the internet in NYC, but I extend the due date for my books online. No late fees.

David says on January 24th, 2008 at 10:32 pm

If your in the service industry and make a living off your tips…put it in da bank! Or at least keep it out of your wallet. It easy to blow through cash when you have it immediately acessable. A bank that allows cash deposits in atms is ideal.

Bill says on January 24th, 2008 at 10:47 pm

Only use your credit card for budgeted purchases where you can pay the balance every month. If you have to run up a balance due to an emergency, revise the budget with the goal of eliminating the balance as soon as possible.

Reese says on January 24th, 2008 at 11:08 pm

Quit super-sizing! Not only is that 49 cent you can save (it adds up, believe me), it’s also keeping away extra pounds you don’t need on your waist!

Brad says on January 24th, 2008 at 11:34 pm

Do your own taxes. Use the IRS resources.

Lettier says on January 25th, 2008 at 12:00 am

Research before you purchase.

Many times the item is offered less by someone else.

Live within your means.

Transportation and housing aside, spend only what you can afford to pay back within a reasonable time frame.

Put your money to work.

Be clever and research opportunities to make your money earn more income for yourself.

Kaizer says on January 25th, 2008 at 12:13 am

The root of all problems is the ego. remove ego. Be humble. You will then have no needs or wants. You will be truely happy.

Having said that… i want the db clay wallet.

Kaizer

faizal says on January 25th, 2008 at 12:49 am

-schedule online billing payment
-search product that you want to buy at internet first, check reviews/comments.
-prioritize items that you want to buy.
-check alternative solution before buying something (borrow/rent)

p/s: have to go sorry, only 4 time for pray

Michael DeBusk says on January 25th, 2008 at 1:38 am

For the first time, I’m keeping track of my cash expenses. It was always a PITA before, but now it’s easy: I use XPenser and my unlimited text messaging plan.

http://xpenser.com/

My tip? Whatever you do to live within your means and keep to your budget, MAKE IT SIMPLE. You’re far more likely to follow through consistently.

Letha says on January 25th, 2008 at 1:48 am

3 tips here:
budget tip #1
don’t buy it if you wouldn’t feed it to your two-year-old in front of a naturopathic doc (i.e. no junk food or sugary stuff)
budget tip #2
at the market, use a hand-basket instead of a big ol’ shopping cart if you can
budget tip #3
instead of renting or buying a strobe light for a party, just invite your guests to blink rapidly on the dance floor

Dave says on January 25th, 2008 at 2:33 am

My tip is to set up a direct deposit of your paycheque and pay your bills from your bank account before you pay yourself.

Norris says on January 25th, 2008 at 3:25 am

@Dave - and add deposit/investments too. Before your ‘take home” (which you can put in your cool new wallet…)

Darris says on January 25th, 2008 at 3:48 am

If you have to purchase something try getting it second hand.

Andrew says on January 25th, 2008 at 4:12 am

The best tip I can offer for anyone who has trouble keeping to their budget is to have seperate bank accounts for different purposes. You may incur extra fees lbut only be able to access your wasteable money and nothing else by key-card is very helpful, especially on a boozy night out!

Guna says on January 25th, 2008 at 4:13 am

One life to hack

Yuki says on January 25th, 2008 at 4:24 am

If your finances are tight (like mine), spend cash not plastic. It gives you a much better idea of how much things *really* cost.

It also allows you to keep a close eye on how much money you have as you can check your balance every time you take money out.

Adam Ferla says on January 25th, 2008 at 4:43 am

Record your savings goal at the start of the month, record your monthly income, deduct your expenses and calculate what you can spend each day / week / fortnight in order to meet your savings goal.

You will know exactly when you have spent too much and you can make up for it throughout the month.

Rose says on January 25th, 2008 at 6:18 am

Use percentages.

Of what you earn, set aside a certain percentage to deposit into your bank/put into your piggy bank. Stick to the precentage you set, too!

Pay your bills and buy your groceries with the rest, then treat yourself with what’s left over, knowing that you’ve been good and paid off all you need to, and can enjoy yourself while some of your money is safely put away in case of emergency or…so you can save up for a holiday.

Manoj says on January 25th, 2008 at 7:24 am

Ditch the credit cards, unless you can make sure you settle all dues each statement.

Lars says on January 25th, 2008 at 7:27 am

Use cash!
Credit cards empty your wallet just by staying in it.

Also, don’t do impulsive buys. Have a note in your wallet so that everytime you buy something, you remember to think about how much stores and sales people do to make you buy stuff you really don’t need.

Dirk Peters says on January 25th, 2008 at 7:52 am

Investing in a freezer will allow you to place leftovers from most meals in cryogenic stasis and be revived at a later time. Preparing larger quantities of food is often more cost-efficient. Plus, heating up the frozen leftovers generally takes less time than preparing the entire meal from schratch, so there’s a timegain as well.
With the freezer you can also benefit more from store discounts (eg. on meat) as they can be frozen.
works for me!

Eric says on January 25th, 2008 at 7:57 am

Budget Tip:
Put a little away each week and develop a target (i.e. “let’s save for a vacation”).

My wife puts a little money on the side every week and we’ve been able to go to Vegas, Florida and 2 friends bachelo/bachelorette parties.

Lolly says on January 25th, 2008 at 8:25 am

Budget smudget. I start to feel deprived if I stare at figures constantly - it doesn’t take long to memorise what goes in and out regularly. No point fretting as long as you are in control. After I ensure that my regular payments are automatically covered for essentials and debts, I go and play golf at the weekend (at a public course). Why? Because at the weekend I am the most tempted to do retail therapy if I don’t make plans. Sure, I have to make an investment in the sport, but I love golf and I get the serotonin rush, exercise benefit and don’t even think about shopping - result! So take up an activity that you can immerse yourself in within your means. Of course if you want to fly helicopters then you need to find a sugar daddy or mummy first.

pelf says on January 25th, 2008 at 8:30 am

My boyfriend and I decided to put aside 10 bucks for our daily meals, and at the end of the day, whatever extras we have, we save in a little purse. That way, we plan our meals around our budget of 10 bucks (expensive breakfast = cheap dinner).

At the end of the week, we use whatever money we have accumulated to buy (more) food stuff for the following week.

That way, we found that we could enjoy our meals and snacks without having to spend more money from our pockets (70 bucks a week).

Mama Zen says on January 25th, 2008 at 10:09 am

Clip coupons and shop on double coupon day. It really adds up!

Aija Adamovska says on January 25th, 2008 at 10:13 am

Brake that O!-shop!-what-could-I-buy? habit. If you realy dont need something, dont go to the shop! So simple. And if you are at shop or near the shop… You realy dont need to buy something (and no… making up that maybe you need does not count)

Steve Ruddell says on January 25th, 2008 at 11:21 am

“Having is not so pleasing as wanting. It is not logical, but it is often true.” (Spock to T’Pring in Amok Time)

realize this makes keeping a budget a lot easier.

Anna Barrie says on January 25th, 2008 at 12:10 pm

After removing your credit cards from your wallet, remove/destroy your mac/cash machine card. Only get cash by writing a check and actually visiting your bank’s local branch (yes, go inside - don’t drive through - and develop a personal relationship with the teller). The more difficult it is to get the money in your pocket, the harder it is to spend it.

Mickey says on January 25th, 2008 at 1:03 pm

I tend to use my debit card over credit card so that I carefully consider whether I need something before buying it.

Robert says on January 25th, 2008 at 1:07 pm

This is a tip specific to the holidays. What my family does is we set a budget then get that much cash. That is all we have to spend. Never use credit cards. It’s too easy to overspend. If you are cash only then each purchase has to be thought out. It also makes for more personal gift giving.

Meredith says on January 25th, 2008 at 1:50 pm

Living within your means is all about learning to want what you have, and question your motivations behind purchasing a certain item. Is it really that you need it, or is it about how you think you’ll feel once you have it? So many purchases have emotional reasons behind them–learn what those reasons are and find a more productive (and less costly) way to mitigate them.

Brian says on January 25th, 2008 at 2:36 pm

Live below your means. But still live life to the fullest! Fulfilling Frugrally.

Don says on January 25th, 2008 at 2:37 pm

Don’t spend more than you earn!

it’s like nutrition, don’t eat more calories than you burn!

Sarvesh Patil says on January 25th, 2008 at 3:40 pm

Track your expenses by writing down your spending to realize how much you shell out on stupid little things.

It will make you conscious about what and how you spend your money.

A good way to make you think twice.

Taryn says on January 25th, 2008 at 4:23 pm

I’m sure its been said before but write down each dollar you spend. We keep a sheet on the fridge divided into catagories and its easy to see if I can spend $100 at the grocery store this week or $50.

Shari says on January 25th, 2008 at 5:32 pm

I have a running list of restaurants I want to try out, and at the beginning of each month I check restaurant.com to see if any of those places are on there. They let you buy $25 gift certificates at $10, but the key is, there’s always an extra 50% or 60% discount available if you just google “restaurant.com discount code.” So you can get $25 gift certificates for $4 and eat pretty well when you want to go out!