How do YOU save money?
03-11-2009, 09:51 AM
#1
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How do YOU save money?
I struggle to save money but realise the importance of doing so. Especially in the current climate and with a morgage over me!
Any hints and tips? I waste money and have a fairly active social life which don't help!
Any hints and tips? I waste money and have a fairly active social life which don't help!
03-11-2009, 09:58 AM
#2
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i still don't know ahahahaha better ask the mrs lol, i have a weekly amount i drag out the hole in the wall and try to make it last me till the next friday
03-11-2009, 09:58 AM
#3
Few tips to save money.
Always go to the reduced aisle in the supermarket. Instead of going with an idea of what you are going to have for tea/lunch etc. Have a look there in the fridge/veg and dry aisles. You can buy things and freeze them till you need them.
Get store loyalty cards as you will gain reward points.
Shop around. There are always deals on the internet to be had. I managed to get 50% off of a Karcher pressure washer just by doing a bit of searching on the net.
Do you need to take the car to the shops when you know it's only just down the road. The walk will do you good too.
Do you have to go out all the time. Try to budget yourself. Even if you say that you will spend £10 less a week on going out. That's still £45 saved a month.
Do you need to have the best brand name in clothes and food etc.
Haggling in this climate is a must.
Always go to the reduced aisle in the supermarket. Instead of going with an idea of what you are going to have for tea/lunch etc. Have a look there in the fridge/veg and dry aisles. You can buy things and freeze them till you need them.
Get store loyalty cards as you will gain reward points.
Shop around. There are always deals on the internet to be had. I managed to get 50% off of a Karcher pressure washer just by doing a bit of searching on the net.
Do you need to take the car to the shops when you know it's only just down the road. The walk will do you good too.
Do you have to go out all the time. Try to budget yourself. Even if you say that you will spend £10 less a week on going out. That's still £45 saved a month.
Do you need to have the best brand name in clothes and food etc.
Haggling in this climate is a must.
03-11-2009, 10:01 AM
#5
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Stay in
Skip meals (that's a bad one)
Cook for more than one person. Cheaper and better meal usually.
Take packed lunches to work.
Buy cheaper brands
Sell something before buying something
Sort out yoiur car insurance, mobile phone bills.
Don't use credit cards
and many more, you have to do several and stick at it or one good night out can ruin several days of living like a friendless monk.
Skip meals (that's a bad one)
Cook for more than one person. Cheaper and better meal usually.
Take packed lunches to work.
Buy cheaper brands
Sell something before buying something
Sort out yoiur car insurance, mobile phone bills.
Don't use credit cards
and many more, you have to do several and stick at it or one good night out can ruin several days of living like a friendless monk.
03-11-2009, 10:07 AM
#6
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I just cant save - have been like this my 12 working years
If ive got it i spend it :-(
Im not in debt though just a car loan/morgage but I have no emergency savings
I just waste money on beer takeaways and nights out silly ladd
If ive got it i spend it :-(
Im not in debt though just a car loan/morgage but I have no emergency savings
I just waste money on beer takeaways and nights out silly ladd
03-11-2009, 10:09 AM
#7
i don't save money too well to be honest, although recently i've been bunging a couple of hundred a month into the wedding fund. it's not too bad really, just got to stop and think if i actually need something.
reduced the amount of times i go out, stopped getting lunch at the sandwich shop (that's £4 a day saved already).
all the usual really, don't use credit cards as i've been bad with them in the past, search for good deals for car insurance and mobile contracts, then there's the more obvious like settign of five minutes earlier and taking it easier on the fast pedal, quite boring, but saves a few quid.
reduced the amount of times i go out, stopped getting lunch at the sandwich shop (that's £4 a day saved already).
all the usual really, don't use credit cards as i've been bad with them in the past, search for good deals for car insurance and mobile contracts, then there's the more obvious like settign of five minutes earlier and taking it easier on the fast pedal, quite boring, but saves a few quid.
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03-11-2009, 10:24 AM
#9
Advanced PassionFord User
By being a tight bastard!
A fiver on lunch makes me wince, Ill happily take a walk to get something for a coupl of quid, or better still, make and take sandwiches.
Cut down on takeaway, you can feed 2 people for about 3 quid a night without it being shite.
Cut down on fizzy juice, water or diluting juic is better for you and magnitudes cheaper.
The big stuff i watching your mobile, internet, insurance etc. I'll shop around to the point of driving people insane before making a decision on the best deal for me.
Putting money aside at the start of the month works well. I have 3 bank accounts and one with a building society to divvy up car money, holiday money, proper current account for direct debits etc.
A fiver on lunch makes me wince, Ill happily take a walk to get something for a coupl of quid, or better still, make and take sandwiches.
Cut down on takeaway, you can feed 2 people for about 3 quid a night without it being shite.
Cut down on fizzy juice, water or diluting juic is better for you and magnitudes cheaper.
The big stuff i watching your mobile, internet, insurance etc. I'll shop around to the point of driving people insane before making a decision on the best deal for me.
Putting money aside at the start of the month works well. I have 3 bank accounts and one with a building society to divvy up car money, holiday money, proper current account for direct debits etc.
03-11-2009, 10:39 AM
#14
It is SO easy to save ALOT of money if you try. I worked a plan out for my misses and she saved £9k in one year!!!
This is what we did. First up, look at everything you have to pay out per month:
Bills, are you getting the best deal - if not, switch
Cards, loans and store cards - see if consolidating them into one loan will help pay them off more quickly and with a lower average interest rate.
DO NOT USE CARDS, pay in cash - it is a lot harder to part with cash on rubbish than it it with the swipe of a card.
Set an amount you can spend each with and withdraw it, then ONLY spend that amount. It is to easy to keep dipping into the bank and lose track of what your spending, after a couple of weeks you will manage that amount of money and not run out.
If you go into a shop for something you need, only buy that, not mags, drinks, sweets as well, all this adds up.
Getting some food,do you really need to buy food or can you go home and make something - it will be cheaper than £6 at mcD's. Take food with you from home - over a year that could save £1k.
Out on the lash, don't be tight, but are you the sort to always be up at the bar, be a bit more reserved, my misses would take £80 out and come home with nothing, simply because whilst others kept their money in their wallet skipping rounds, my misses would be buying them in.
Same with things like fags, she would take 20 - 40 fags out, she smokes say 5 in a night out - the rest got crashed from people who couldn't be bothered to go to the shop - that could be £500 a year.
It is all the little things you spend cash on that you really don't need to that adds up at the end of the year, by only having a set amount each week - must be per week - not month, you will start to be a little more careful with your cash.
You will find that after a few months the bank balance starts building up then you wont want it to fall, I started by getting to 1k, then 5k, then 10k, by the time i was ready to buy a place i had £30k ready to go.
That then vanished in the house purchase lol!!
This is what we did. First up, look at everything you have to pay out per month:
Bills, are you getting the best deal - if not, switch
Cards, loans and store cards - see if consolidating them into one loan will help pay them off more quickly and with a lower average interest rate.
DO NOT USE CARDS, pay in cash - it is a lot harder to part with cash on rubbish than it it with the swipe of a card.
Set an amount you can spend each with and withdraw it, then ONLY spend that amount. It is to easy to keep dipping into the bank and lose track of what your spending, after a couple of weeks you will manage that amount of money and not run out.
If you go into a shop for something you need, only buy that, not mags, drinks, sweets as well, all this adds up.
Getting some food,do you really need to buy food or can you go home and make something - it will be cheaper than £6 at mcD's. Take food with you from home - over a year that could save £1k.
Out on the lash, don't be tight, but are you the sort to always be up at the bar, be a bit more reserved, my misses would take £80 out and come home with nothing, simply because whilst others kept their money in their wallet skipping rounds, my misses would be buying them in.
Same with things like fags, she would take 20 - 40 fags out, she smokes say 5 in a night out - the rest got crashed from people who couldn't be bothered to go to the shop - that could be £500 a year.
It is all the little things you spend cash on that you really don't need to that adds up at the end of the year, by only having a set amount each week - must be per week - not month, you will start to be a little more careful with your cash.
You will find that after a few months the bank balance starts building up then you wont want it to fall, I started by getting to 1k, then 5k, then 10k, by the time i was ready to buy a place i had £30k ready to go.
That then vanished in the house purchase lol!!
03-11-2009, 10:42 AM
#15
Advanced PassionFord User
It's got to have some advantages!
That too, along with a pretax pension scheme and any other deductions you can take to your advantage.
My next car is lined up to be a turboderv for that very reason, even on 25k a year.
I dont look at whether I can afford to spend the money, I look at whether I can justify it.
I could afford to buy a carbon nosecone for my project, but I cant justify spending £400 to save a kilo and have some bling on my car so I wont.
That too, along with a pretax pension scheme and any other deductions you can take to your advantage.
I dont look at whether I can afford to spend the money, I look at whether I can justify it.
I could afford to buy a carbon nosecone for my project, but I cant justify spending £400 to save a kilo and have some bling on my car so I wont.
03-11-2009, 10:45 AM
#16
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Food shopping i changed the missus's habbits, she would put the first thing she see's in the trolly and my eyes are scanning the deals thats on or the reduced price for dates near end etc etc, i did calculate i saved nearly £15 on our bill just by putting back what she picked and doing it my way
Whats the point in buying the branded names for kids dinners when they waste/play with it and generally dont give a shit lol, There are some things i wont skimp on and thats bread/rolls dairy
My local butcher does a great deal on meat packs £9.99 for this.....
Family size steak pie
1 Haggis
8 Beef or Pork Sausages
8-10 Rashers of Bacon
Bag of Mince
Bag of Diced Steak
4 Slice/Sqaure Sausage
03-11-2009, 10:48 AM
#17
i found the best way for me to save money was to move to a better country, i couldn't save jack shit in the uk. now though i have a healthy amount saved and its still rising and i still go out drinking every weekend, i buy my tea every night and buy my dinner every day at work
03-11-2009, 10:51 AM
#18
Tdi:
Cost : 1900
Value after 2 years and 100K more miles : 400
Cost of fuel for 100K miles : 9K
Cost of servicing / tyres /repairs : 1K
Insurance for 2 years : 800
Total = 1900 - 400 + 9k + 1k + 800 = 12300
S4:
Cost : 9K
Value after 2 years and 100K more miles : 5K
Cost of fuel for 100K miles : 15K
Cost of servicing / tyres /repairs : 3K
Insurance for 2 years : 1500
Total = 9K - 5K + 15k + 3k + 1500 = 23500
Saving of over 11 grand in a 2 year period, just to drive a less flashy car that does exactly the same job given that my speeds are dictated by traffic and laws anyway so couldnt really go any quicker very often in the S4 anyway.
Cheap daily driving rocks, that 10K has paid for all my trackdays and ring trips for the 2 year period and funded lots of the parts for my toy cars too.
03-11-2009, 11:22 AM
#19
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It is SO easy to save ALOT of money if you try. I worked a plan out for my misses and she saved £9k in one year!!!
This is what we did. First up, look at everything you have to pay out per month:
Bills, are you getting the best deal - if not, switch
Cards, loans and store cards - see if consolidating them into one loan will help pay them off more quickly and with a lower average interest rate.
DO NOT USE CARDS, pay in cash - it is a lot harder to part with cash on rubbish than it it with the swipe of a card.
Set an amount you can spend each with and withdraw it, then ONLY spend that amount. It is to easy to keep dipping into the bank and lose track of what your spending, after a couple of weeks you will manage that amount of money and not run out.
If you go into a shop for something you need, only buy that, not mags, drinks, sweets as well, all this adds up.
Getting some food,do you really need to buy food or can you go home and make something - it will be cheaper than £6 at mcD's. Take food with you from home - over a year that could save £1k.
Out on the lash, don't be tight, but are you the sort to always be up at the bar, be a bit more reserved, my misses would take £80 out and come home with nothing, simply because whilst others kept their money in their wallet skipping rounds, my misses would be buying them in.
Same with things like fags, she would take 20 - 40 fags out, she smokes say 5 in a night out - the rest got crashed from people who couldn't be bothered to go to the shop - that could be £500 a year.
It is all the little things you spend cash on that you really don't need to that adds up at the end of the year, by only having a set amount each week - must be per week - not month, you will start to be a little more careful with your cash.
You will find that after a few months the bank balance starts building up then you wont want it to fall, I started by getting to 1k, then 5k, then 10k, by the time i was ready to buy a place i had £30k ready to go.
That then vanished in the house purchase lol!!
This is what we did. First up, look at everything you have to pay out per month:
Bills, are you getting the best deal - if not, switch
Cards, loans and store cards - see if consolidating them into one loan will help pay them off more quickly and with a lower average interest rate.
DO NOT USE CARDS, pay in cash - it is a lot harder to part with cash on rubbish than it it with the swipe of a card.
Set an amount you can spend each with and withdraw it, then ONLY spend that amount. It is to easy to keep dipping into the bank and lose track of what your spending, after a couple of weeks you will manage that amount of money and not run out.
If you go into a shop for something you need, only buy that, not mags, drinks, sweets as well, all this adds up.
Getting some food,do you really need to buy food or can you go home and make something - it will be cheaper than £6 at mcD's. Take food with you from home - over a year that could save £1k.
Out on the lash, don't be tight, but are you the sort to always be up at the bar, be a bit more reserved, my misses would take £80 out and come home with nothing, simply because whilst others kept their money in their wallet skipping rounds, my misses would be buying them in.
Same with things like fags, she would take 20 - 40 fags out, she smokes say 5 in a night out - the rest got crashed from people who couldn't be bothered to go to the shop - that could be £500 a year.
It is all the little things you spend cash on that you really don't need to that adds up at the end of the year, by only having a set amount each week - must be per week - not month, you will start to be a little more careful with your cash.
You will find that after a few months the bank balance starts building up then you wont want it to fall, I started by getting to 1k, then 5k, then 10k, by the time i was ready to buy a place i had £30k ready to go.
That then vanished in the house purchase lol!!
03-11-2009, 11:37 AM
#21
It's all about willpower and actually DOING it, be proactive and actually set money aside into another account, don't just think about doing it.
For me the best way of saving came by setting up internet banking and a couple of savings accounts, now it's a habit more than a chore to automatically go online on payday and transfer £400 into my savings account.
The good about this is it's easy to get to if you need it back, but not like the money is actually in your hand, try surviving on less as an experiment, don't be too drastic though as it'll put you off if it doesn't work out.
The soner you start, the more money you'll have to waste on better things instead of having fcuk all to show for it.
Lots of good tips above aswell though, i take lunch with me to work everyday, if you spend sa a fiver or thereabouts a day on lunch, that's £100 a month, may seem like a small amount but it all contributes. What about nights out, how many times do you wake up the next day and think FFS i spent £80 or whatever ast night and i had a sh1t night...
For me the best way of saving came by setting up internet banking and a couple of savings accounts, now it's a habit more than a chore to automatically go online on payday and transfer £400 into my savings account.
The good about this is it's easy to get to if you need it back, but not like the money is actually in your hand, try surviving on less as an experiment, don't be too drastic though as it'll put you off if it doesn't work out.
The soner you start, the more money you'll have to waste on better things instead of having fcuk all to show for it.
Lots of good tips above aswell though, i take lunch with me to work everyday, if you spend sa a fiver or thereabouts a day on lunch, that's £100 a month, may seem like a small amount but it all contributes. What about nights out, how many times do you wake up the next day and think FFS i spent £80 or whatever ast night and i had a sh1t night...
Last edited by rog; 03-11-2009 at 11:39 AM.
03-11-2009, 11:58 AM
#22
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making a shopping list and sticking to it is a big one, planning your meals ahead for the week can stop impulse buying.
Im pretty pleased that we spend £80 a week on food between the 5 of us ( including nappies!) i know a lot of couples that spend more than that for a week.
The rest i need help with, but lots of good advice on here.
Sell all your old stuff that you dont use instead of donating to charity, might as well try and save a bit of money for yourself that way
Sarah
Im pretty pleased that we spend £80 a week on food between the 5 of us ( including nappies!) i know a lot of couples that spend more than that for a week.
The rest i need help with, but lots of good advice on here.
Sell all your old stuff that you dont use instead of donating to charity, might as well try and save a bit of money for yourself that way
Sarah
03-11-2009, 12:03 PM
#23
Too many posts.. I need a life!!
Easy way to save money on food is to make a lot at once.
On the weekend make up 5 portions of curry and rice, mega cheap and thats five lunches, switch the next week to chilli and rice, or pasta, or whatever.
Drive sensibly. I reckon i could save £1000 a year if i changed up at 2k every time.
Like others have said, every payday move a chunk of cash into a savings account. Then set yourself goals, like; Every £2000 saves spend £200 on yourself. It gives you something to work towards and it motivates you to do it.
Get an ISA, the rates arent brilliant but they wont go bye bye if your bank goes bust and they will go up when the interest rates rise again. Max it out with £3600 a year and forget about it.
You can save money in most ares, just research it on the net and you can find the cheapest option.
On the weekend make up 5 portions of curry and rice, mega cheap and thats five lunches, switch the next week to chilli and rice, or pasta, or whatever.
Drive sensibly. I reckon i could save £1000 a year if i changed up at 2k every time.
Like others have said, every payday move a chunk of cash into a savings account. Then set yourself goals, like; Every £2000 saves spend £200 on yourself. It gives you something to work towards and it motivates you to do it.
Get an ISA, the rates arent brilliant but they wont go bye bye if your bank goes bust and they will go up when the interest rates rise again. Max it out with £3600 a year and forget about it.
You can save money in most ares, just research it on the net and you can find the cheapest option.
03-11-2009, 12:07 PM
#24
Legend
Some great advice on here! Makes a pleasant change from posts about debt and claiming back bank charges.
A thing to add that my Dad taught me when I was very young "If you're out earning, you're not out spending".
Evening and/or weekend jobs or whatever. You could work in a Pizza delivery place a couple of nights a week and earn an extra £100 or so after your fuel costs. But the best thing, if you're earning it, you're not out in the pub/casino or whatever spending.
There's tonnes of things you can do online to earn a bit of extra play money as well. Buy and sell a bit on ebay or go on one of those sites that pay in Amazon tokens for a few hours moderating a night.
A thing to add that my Dad taught me when I was very young "If you're out earning, you're not out spending".
Evening and/or weekend jobs or whatever. You could work in a Pizza delivery place a couple of nights a week and earn an extra £100 or so after your fuel costs. But the best thing, if you're earning it, you're not out in the pub/casino or whatever spending.
There's tonnes of things you can do online to earn a bit of extra play money as well. Buy and sell a bit on ebay or go on one of those sites that pay in Amazon tokens for a few hours moderating a night.
03-11-2009, 12:59 PM
#25
Advanced PassionFord User
People miss this a lot, people used to ask me why I wouldnt go away on a holiday for two weeks in the middle of my summer job and I say its too expensive. Its not the 600 for the holiday, its the lost money in wages added tot hat which respresents the true cost!
I need to shop where you go!
03-11-2009, 01:23 PM
#27
When I was in the shit with money I started off with a figure of what goes in every month, subtract all bills/mortgage, then take £100 CASH out of the hole in the wall once a week, that's too be used on petrol, food etc, what's left is what I save. Don't use your debit card at all! If you need to to buy something online etc, put the cash aside and use that to top you up to £100 next week.
If I spend less than 100 in the week, I buy a treat at the end of the week to cheer myself up.
Having the cash in your hand gives you more of a feeling of actually spending money, rather than just bunging it on your card!
I still do it now actually, can save a fooking fortune!
If I spend less than 100 in the week, I buy a treat at the end of the week to cheer myself up.
Having the cash in your hand gives you more of a feeling of actually spending money, rather than just bunging it on your card!
I still do it now actually, can save a fooking fortune!
03-11-2009, 01:44 PM
#31
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Christ saving money id love to before it hits the bank the missis has a new pair of shoes and a hair cut (should be her throat 
) last time i saw a twenty was about 6 years ago befor i met the missis an had two bloody kids (since bought me self a wii so no more kids for me lol)
before it hits the bank the missis has a new pair of shoes and a hair cut (should be her throat ) last time i saw a twenty was about 6 years ago befor i met the missis an had two bloody kids (since bought me self a wii so no more kids for me lol)
03-11-2009, 02:09 PM
#33
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I started saving for the 1st time about 8-9 months ago, wages aint brilliant still but it was a start.
£50 a month dd in to a savings account got used to that and upped it to £100 a month.
Im not a big drinker so rarely go to the pub and have cut back on take aways, my biggest spend of the month is probably fuel £60-£70 a week.
£50 a month dd in to a savings account got used to that and upped it to £100 a month.
Im not a big drinker so rarely go to the pub and have cut back on take aways, my biggest spend of the month is probably fuel £60-£70 a week.
03-11-2009, 02:49 PM
#36
Best way is pay off your highest rate interest loan first if you have more than one, then put money into your mortgage or savings depending on interest rate of each too.
03-11-2009, 02:52 PM
#37
Advanced PassionFord User
While I agree in principle, it depends what youre saving for. If you put it into your mortgage you cant get it back so if youre saving for a car, or a new kitchen, or whatever, then its pointless. No one saves for no reason!
