What do you guys & gals do to save money?

Farmall450 · Nov 19, 2013

I was watching that show about extremely cheap people, and while I believe in buying good things (like Snap-on!) I rarely overpay or buy stuff I don't need that isn't on sale. I guess I'm really "spoiled," I don't sharpen bits, nor most blades. Then again I sharpen my chainsaw chains...

Anything you all do to save mucho dinero? :rocker:

d.mcfarland · Nov 19, 2013

Save scrap metal that most people might toss. It adds up quickly. Not worth much, but $5 is $5!!

ddawg16 · Nov 19, 2013

I don't spend it.

I don't buy an over priced cup of coffee each day from Star Bucks.

I don't eat out every other night (my wife is lucky to get a carry in once a month)

I do most of my own repairs...and reno projects around the house.

We don't have cable

We don't borrow money for vacations

And we are not cheap....my wife's car only has 64K miles...she will get a new one next year....we eat well...but my wife knows how to shop....my kids don't want for things...but earn what they have.

atwageman · Nov 19, 2013

Well a co worker the other day said......I'm not gay, but $20 is $20.

People at my apartment throw out their old washers and dryers near the dump can, along with other metal objects like bed frames and such. There is a guy who comes around and snags it up. Sometimes he don't make it in time. :evil:

Steevo · Nov 19, 2013

No Starbucks. None!
Bring your own wine ( on those rare occasions) when eating at a fine restaurant.
Just don't "waste" money you don't have to.

Nobody needs the newest iPhone, Wii, etc,. and the cost associated with having all the latest stuff is astronomical.

atwageman · Nov 19, 2013

Steevo said:
No Starbucks. None!
Bring your own wine ( on those rare occasions) when eating at a fine restaurant.
Just don't "waste" money you don't have to.

Nobody needs the newest iPhone, Wii, etc,. and the cost associated with having all the latest stuff is astronomical.

No Starbucks. That stuff is crack to my wife. At the Charlotte airport there is a Starbucks prior to the security check points. It's open 24/7, 365 days. I once had to drive her there at 3am once so she could get her latte fix.

OccupantRJ · Nov 19, 2013

I buy what I need, not what I want. I have found the wants to dissipate over time, to the point where I found out that I didn't really want it anyway. I do buy things I want, but almost always have an ultimate use for them, other than a whim to go on. People who buy everything they see that catches their eye fall into two categories, broke or rich. I am neither.

justanengineer · Nov 19, 2013

atwageman said:
No Starbucks. That stuff is crack to my wife. At the Charlotte airport there is a Starbucks prior to the security check points. It's open 24/7, 365 days. I once had to drive her there at 3am once so she could get her latte fix.

The sad part is that stuff is watery flavorless **** compared to the stuff that McDonald's sells for 1/3rd the cost. Dont tell most "trendy" women who still like to be seen at Starbucks, but its not.

As for saving money, I buy used at auctions, occasionally flip a few things for $$$, and generally dont spend it. I live ~5/8 mile from work and when the weather is decent I walk. I also pay ~$30/month for Roku instead of $130 per for CommieCast. I think my best way of saving money is simply keeping her happy, she's even cheaper than I am.

allinon72 · Nov 19, 2013

We clip coupons, people say "it's so much work", not sure why when we save about $60 per trip for 5 minutes of work. We put all our purchases on a credit card with rewards and it gets us about $100 in gas every other month (do not carry a balance on it). Most importantly, I am constantly monitoring our bills and spending habits. We still enjoy nice things but we are always looking for areas to cut waste.

warmpancakes · Nov 19, 2013

coupons, lots of them and i shop goodwill for clothes i dont wear to work

Farmall450 · Nov 19, 2013

d.mcfarland said:
Save scrap metal that most people might toss. It adds up quickly. Not worth much, but $5 is $5!!

I agree, it also helps with those neat projects!

atwageman said:
Well a co worker the other day said......I'm not gay, but $20 is $20.

People at my apartment throw out their old washers and dryers near the dump can, along with other metal objects like bed frames and such. There is a guy who comes around and snags it up. Sometimes he don't make it in time.

Not a bad idea...!

Steevo said:
No Starbucks. None!
Bring your own wine ( on those rare occasions) when eating at a fine restaurant.
Just don't "waste" money you don't have to.

Nobody needs the newest iPhone, Wii, etc,. and the cost associated with having all the latest stuff is astronomical.

Can't drink, under 21 :lol_hitti

allinon72 said:
We clip coupons, people say "it's so much work", not sure why when we save about $60 per trip for 5 minutes of work. We put all our purchases on a credit card with rewards and it gets us about $100 in gas every other month (do not carry a balance on it). Most importantly, I am constantly monitoring our bills and spending habits. We still enjoy nice things but we are always looking for areas to cut waste.

Not a bad idea, I've always paid w/ cash :beer:

ol'Red · Nov 19, 2013

We live off of deer meat. Process it myself. It may not sound like a lot of money but a freezer full of meat for the price of freezer bags, freezer paper and a couple of 308 rounds. Throw in a hog for some variety.

mrjaw14 · Nov 19, 2013

Live below my means. Wife and I go out to eat once a week. I take my lunch to work instead of fast food. Don't waste money on stuff we don't need. Limit birthday and holiday purchases to a reasonable amount.

Second, we live in a dual-earner economy. My wife also works. That helps tremendously, but we don't live like it. We don't drive new cars. We don't buy a new vehicle unless the one it's replacing dies. I do many of my own repairs.

bczygan · Nov 19, 2013

Earn as much as you can, as easily and quickly as possible.
Spend as little as you can.
Invest what you have, the most profitable way. This is usually done by investing in yourself.
Beyond a certain point, you need to either make money off the backs of others or find a revenue stream mechanism that is automatic, to free up your time.
Eventually the inherent value of the money itself can be the product.

A long time ago, I knew a young millionaire. This is when a million was a million. Asked him how he made it. He said, you don't have to invent anything or come up with anything new. Just find something that is lucrative. Something others won't do. Gives you the inside track.

His millions?

Peep shows and *** Bookstores.

Wonder who cleans out those little booths and collects all the quarters?......He did.

I think he retired in his 30's.

Duarte · Nov 19, 2013

DIY haircuts

Don't buy too many tools you don't need at the moment. :lol_hitti

Sell high, buy low... :pimpflash

Ray916MN · Nov 19, 2013

Never save to buy something, save to have financial freedom.

Buy as little stuff as possible. I once met a chef in a Chinese restaurant who 2 years after coming to America with nothing had managed to save $60K. I buy like a drunken sailor compared to him, but compared to most people I don't buy much.

For bigger ticket items always look at used instead of new. I doubt I'll ever buy a new car.

Buy with "cash" only. Quotes reflect that I buy almost everything with credit cards to get the cashback. All cards are on pay in full monthly autopay.

Invest savings and actively manage investments.

Savings are the difference between income and spending. When I got my investment income to more than double my spend rate (including transitory spending like private school and college tuition for the kids) I stopped working and became a private investor.

lilscorpion · Nov 19, 2013

My friend just hired a general contractor to remodel his kitchen = $36k
Did it myself (and more elaborate) = $15k
* My friend said his time was worth more than doing it himself. 2 weekends of hard work and I made over $20k (and my kitchen is custom).

Another friend hired a GC to redo his bathroom = $26k
Did mine myself = $2600 which included a tile saw
* Friend said he'd rather play golf, drink a few beers, and let someone else do the work. I got paid more than $25k to not play golf...I still had the beers though and I got to keep the saw

Take MDX to dealership to diagnose an electrical drain = shop rate per hour
researched on the internet = 1 hour
diagnosed and fixed = 15mintes
Fix = free and I saved all that time not having to go to the dealership

Got an estimate to paint the last house just before we put it on the market...3 days & $2800
Bought a airless spray system $550
Bought some paint $150
Took a PTO day and painted it in 14 hours myself...got to keep the spray system

Basement drain backed up. Hired Roto-Rooter for $150 to snake it.
Happened again, bought the machine he used for $350.
*Snaked the same drain just about every year we owned the house for the last 8 years we were in it. Saved almost $1000?...and got to keep the machine.

Being able to do the work myself I was able to sell my last house, turn a small profit, and buy up in an extremely down market. Not losing money on the house...tens of thousands of dollars? Being able to buy up in a down market...PRICELESS.

I probably have hundreds more stories similar. I've saved countless dollars learning to do things myself and I get to dictate the quality of the work and I get to keep the equipment.

Ign · Nov 19, 2013

X4 on scrap metal. And I heat w firewood

jes_si · Nov 19, 2013

I pull out cash and stash it lol Im usually able to save a pretty penny this way. I also have an online money market account that wihtdraws $25 a week from my bank account. I wont be rich with this plan but this is what I do to save to get things for me. Like tools and car parts :bounce:

matty d · Nov 19, 2013

I shop carefully at Costco.

I buy my prescriptions from Costco and save 80% over Target pharmacy.

I buy my gas at Costco.

I pay off my credit cards and take advantage of their rewards programs. I dont have credit card interest.

I cut my own hair.

When buying tools, I check Searsoutlet.

I wait for purchases until gift time (birthday, Xmas).

Wait for sales.

I try to buy furniture from Craigslist. I try to sell stuff on Craigslist before I donate it.

Our neighborhood collects recyclables, However I keep recycleables so I can make a few bucks when I can.

I eat leftovers for lunch instead of buying at Subway, junk food or the cafeteria at work.

Im not into fashion.

I dont need a smart phone and am looking to get an even cheaper plan.

We dont have cable, but streaming media (Roku) instead.

Still, even after all this, I can not save enough money to insure a proper retirement.

muddinguy · Nov 19, 2013

I spent 15 min on the phone with Geico ins.

But no really I recently cut about 75 a week out of my weekly spending just by packing my lunch and skipping my normal 1st break trip to the party store. And next week ill have my matco truck paid off so ill knock another 40 off

RedneckWelder · Nov 19, 2013

One of the biggest things that saves me money is being able to do my own auto repairs. I'm no master mechanic but I did grow up wrenching under Dad's tutelage so I can usually get 'er done...not with the speed of a professional mechanic but the work gets done.

Another thing I do is when I spend my money, spend it smartly. I don't buy stuff like the latest video games or have cable, but instead I spend the money I do spend on stuff that will last...tools, mainly. I have no problem with spending money on quality tools. I do my research and buy it from the place that gives me the most bang for the buck. I have never regretted spending money on quality tools. Plus the tools help me in my work, so I get return on my money spent.

I also try to carry as little debt as possible. I do not like having a car payment (I think the time honored American practice of constantly having a car payment and trading up to newer models just to keep up a "status" is idiotic). My truck is 14 years old, has 215k miles, but still gets me where I need to go. I will admit that I am in debt right now...student loans and tools. I can, however, pay my bills without problems (and I'm not just talking about making the minimum payments and barely able to keep my head above water, either!). Soon as I get my current debts payed off I'm going to hold off on new debt for a long time.

ADSR · Nov 19, 2013

RedneckWelder said:
One of the biggest things that saves me money is being able to do my own auto repairs. I'm no master mechanic but I did grow up wrenching under Dad's tutelage so I can usually get 'er done...not with the speed of a professional mechanic but the work gets done.

Another thing I do is when I spend my money, spend it smartly. I don't buy stuff like the latest video games or have cable, but instead I spend the money I do spend on stuff that will last...tools, mainly. I have no problem with spending money on quality tools. I do my research and buy it from the place that gives me the most bang for the buck. I have never regretted spending money on quality tools. Plus the tools help me in my work, so I get return on my money spent.

I also try to carry as little debt as possible. I do not like having a car payment (I think the time honored American practice of constantly having a car payment and trading up to newer models just to keep up a "status" is idiotic). My truck is 14 years old, has 215k miles, but still gets me where I need to go. I will admit that I am in debt right now...student loans and tools. I can, however, pay my bills without problems (and I'm not just talking about making the minimum payments and barely able to keep my head above water, either!). Soon as I get my current debts payed off I'm going to hold off on new debt for a long time.

Those are some good tips. Welcome to the board, bud. :beer:

ADSR · Nov 19, 2013

muddinguy said:
I spent 15 min on the phone with Geico ins.

But no really I recently cut about 75 a week out of my weekly spending just by packing my lunch and skipping my normal 1st break trip to the party store. And next week ill have my matco truck paid off so ill knock another 40 off

It costs a lot to eat out for lunch everyday. I pack my own lunch and only spend 2 bucks on coffee each day.

Saved me an easy 100 bucks a week.

RedneckWelder · Nov 19, 2013

LORDDiESEL said:
Those are some good tips. Welcome to the board, bud.

Thanks, glad to be here! Looks like some good people here

CWP1616L · Nov 19, 2013

I shop at Winco, Costco, and Walmart. I save a ton of money compared to shopping at those boutique grocery stores.

LennyTheLizard · Nov 19, 2013

Read an article on MS Money several years ago about the 60/40 budget.

60% - Bills & everyday spending (including income taxes)
10% - Retirement fund
10% - Occasional Expenses (Insurance, property taxes, etc., emergency fund)
10% - Fun Money (Dining out, tools, vacation, etc.)
10% - Big ticket items (new furniture, home downpayment, new car, etc)

Key is save for what you want, and DON'T BORROW MONEY.
Many people will complain that these figures are un-obtainable, but if they are you are likely living beyond your means, and buying your wants / not needs.

MN4x4 · Nov 19, 2013

I *ALWAYS* use a coupon when I shop at Harbor Freight.

:lol_hitti

And...

I fix my own vehicles. Mine is 12 years old and the wife's is 14.

Do my own repairs on and around the house, including appliances, etc.

My wife and I both coupon when we're buying anything.

Wait for (or negotiate) sales on anything we need.

Do my own yard care and snow removal.

And I also recycle computers/electronics/steel etc. for scrap.

Itinerant · Nov 19, 2013

I'm not too proud to buy used or at auctions if it's a quality item in the first place. I got most of the high-end stuff I own this way, including some things I never would have contemplated buying new because of the price. I don't have a tv or smartphone, I'm on the internet thanks to my employer allowing me to take a laptop home and I usually take my lunch to work.

The biggest thing as others have mentioned is improving the value of my home by updating and remodeling and doing almost all of the work myself. Over the last 5 years or so I've done a new roof, painted inside and out, hung new doors, put up new trim moulding and baseboards, remodeled a bathroom and put in hardwood flooring. The only thing I paid someone to do was lay some tile since I never had the knack for that and install carpeting. I can't imagine paying someone else to do all that other work.

Oh, and NO revolving debt.

Montosi82 · Nov 19, 2013

Couple tips that my father passed on to me at a young age.

1. If you take on a payment, always go into it with the plan to make double payments. This way you'll almost never be "upside Dow" on anything.

2. Start your retirement savings in high school. Seems crazy but do some compounding interest calculations and becoming a millionaire by retirement isn't that difficult.

3. Minimum 60 hours a week. More hours means more pay and it's hard to spend a lot while your working.

4. Buy quality and you only buy once.

5. Never borrow for toys or vacations.

6. Never pay credit card interest

Hope this helps

toomanytoyzz · Nov 19, 2013

I am not much of a saver, but I have a job which offers a sh!t ton of OT. If I want something pricey I buckle down and have at it.

Also started a Fidelity account about 5 years ago along with some other smaller investments through my job which come directly out of my paycheck. It adds up quick, and will supplement my pension which is factored off of my 3 highest years salary (including OT :rocker:

).

HighwayTrout · Nov 19, 2013

http://www.daveramsey.com/new/baby-steps/

I am a D.R. koolaid drinker myself...lol

Anyway....
I carpool to work, pack lunch(left overs from the previous nights dinner that was home cooked and not bought), no cable/satellite, written budget every month that doesn't get broken, pay cash for EVERYTHING (bargaining power), always grocery shop with a list, never use credit cards, buy used, raise chickens for meat and eggs, wife has a huge garden.... I can go on and on

Basically my wife and I live our lives like an old turn of the century couple. We don't keep up with the Jones'. It also helps I work as much overtime as I can. Cant spend money if your too busy making it. Very proud to say we are in our late 20's and in 5 years our house will be paid for. I HATE debt....

cleveman · Nov 19, 2013

I wonder if someone can tell me the largest expense that the normal working stiff has?

The answer I'm looking for is taxes. It is going to be difficult to avoid property taxes, but I think people living in mobile homes used to do it. Sales taxes are also difficult to avoid, but you can minimize them by buying used stuff.

The auto registration cost used to drop to about $35/year after 5 years. Now I think it is 7 years.

Now that you are saving so much money, you don't need as much income, so you can avoid those taxes as well.

djwyman · Nov 20, 2013

biggest things I do to save money is don't buy fast food very often...maybe once a month if I get a craving for something. I Drink filtered water instead of buying bottled water, I don't drink alcohol very often or go "clubbing". I own my little crappy house outright so no house payment I own my car out right no payment, I fix both of those things when they break my self which saves tones of money. that being said I do Like my electronic gadgets and tools so those are my two biggest vices though I don't have to have every new shiny gadget that comes out or even when it comes out...I am quick to buy used. Also the only piece of furniture I have ever bought new for is my bed the rest was either given to me or I got off the side of the road (don't judge) or I got from a second hand store like good will.

Mickey O · Nov 20, 2013

What do you guys & gals do to save money?

Stay out of Harbor Freight.

Exceller8 · Nov 20, 2013

My wife and I do lots of little things to save $$$. Coupons, buy used, LED lighting, etc... It's a thought process. You have to always be aware of how you're spending money without really thinking about it if that makes any sense? :dunno:

If you have to think about it all the time you probably won't do it.

Knowing what prices are on all good and services helps to save a lot of money as well. The little things really add up. Cereal for example is around $4 a box on average. We usually pay no more than $1-$1.50 a box and sometimes less with coupons. That's just a very small example...

-Brent- · Nov 20, 2013

I do a bunch of stuff as mentioned. I also play a little game that helps me really cut my spending. I have an average number of times that drafts come out of my checking account. That number includes bills paid, fuel, as well as unplanned trips to the grocery store, a spontaneous lunch, etc. I try to hit that number each pay period. I haven't done it yet but I've come very close. The months that I've done very well, I've hit the next pay period with a lot more left of the past paycheck.

Provincial · Nov 20, 2013

djwyman said:
biggest things I do to save money is don't buy fast food very often...maybe once a month if I get a craving for something. I Drink filtered water instead of buying bottled water, I don't drink alcohol very often or go "clubbing". I own my little crappy house outright so no house payment I own my car out right no payment, I fix both of those things when they break my self which saves tones of money. that being said I do Like my electronic gadgets and tools so those are my two biggest vices though I don't have to have every new shiny gadget that comes out or even when it comes out...I am quick to buy used. Also the only piece of furniture I have ever bought new for is my bed the rest was either given to me or I got off the side of the road (don't judge) or I got from a second hand store like good will.

You spend more time in your bed than anywhere else in your life. This is one place to step up and buy a quality mattress. Modern bed frames often dispense with the box spring, so it offsets a little expense to buy a newer design bed frame. Shop hard and smart and you can get a quality mattress for a reasonable price. It pays off in being rested and productive in your waking hours.

djwyman · Nov 20, 2013

Provincial said:
You spend more time in your bed than anywhere else in your life. This is one place to step up and buy a quality mattress. Modern bed frames often dispense with the box spring, so it offsets a little expense to buy a newer design bed frame. Shop hard and smart and you can get a quality mattress for a reasonable price. It pays off in being rested and productive in your waking hours.

well I did not spare any expense in buying that bed...I had bought a super cumfy serta poofy pillow top me and my exwife bought and the box spring...That thing is like laying on clouds. My recliner is pretty awesome too but I did not pay for it, it was a gift.

PugetDude · Nov 20, 2013

Recycle my condoms.
Just turn them inside out and shake the f*ck out of them.
:lol:

What do you guys & gals do to save money?

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