How to save money

[guitar george]

I am not a cheapskate in any way, but, I do like to get a deal and save money whenever I can. I live in Vancouver, a fairly large city, that has pay parking lots and parking meters all over the place. One thing I like to do is find free parking whenever I can. I almost never pay for parking and almost always find free parking within about 6 blocks from where I'm going. I know almost every free legal parking spot in the city. I also like to walk, so, if I am within 6 blocks, that's close enough. I probably have saved many thousands of dollars in parking fees over the years if you count monthly parking fees that I could have paid when I worked downtown for 21 years. Parking fees can really add up.

Anybody else got any big or small money saving tips?

[Rockysdad]

Yes, I do. Stay away from guitars,...…….. gas will kill your wallet!
( A little humo(u)r )

[tbeltrans]

1. Spend less than you earn.
2. Don't buy items (except a house) until you have the money set aside to pay for it (i.e. make the payments to yourself ahead of time, instead of to the bank or credit card company after the purchase). Interest on debt can be expensive, and debt gets to be a "slippery slope".
3. If you go shopping, you WILL find something you didn't really need before you went shopping. Don't go looking unless you have already decided on what you want AND have the money set aside to buy it.
4. Don't go grocery shopping hungry, and take along a shopping list.

All of these are nothing more than common sense, but require discipline in our "shop 'till you drop" culture.

Tony

[robj144]

Spending less than you earn should be obvious.

Don't buy non-disposable items when needed, but when on sale. Stuff like toothpaste, toilet paper, paper towels, soap, detergent, etc... Amazon will have sales on this stuff every once in a while, and buy it then. Never when running out.

Never, buy anything on impulse. If you see something you like at some store, don't buy it at that store. See what kind of deal you can get online. Check eBay... sometimes you can get it used in very good condition.

Buy gift cards through site like Raise for places you often shop. You can get the gift cards at a discounted rate.

ALWAYS use a credit card and pay it off in FULL EVERY MONTH. You'll get the reward points for cash or something else. I get a ton of points every year.

Check slickdeals.net for deals on various items.

It's not for everyone, but I use a DE razor. Razors literally cost me about $5 a year and I shave every day.

Lastly, it's great to save money, but saving every extra penny is a bit neurotic. Yeah, you save for rainy days and retirement, but not to be grim, you might not make it to retirement or be of able or mind at retirement. My rule of thumb is spend about 30% or so of the difference between your yearly budget and your net pay and save the rest. It's good to spend some now when you know you can still have fun with it.

[Silly Moustache]

as Robj says : "Spending less than you earn should be obvious" but is a very common error especially in these days of credit cards, online loan sharks, and the seeming need for instant gratification etc.

Also the confusion between good debt and bad debt - i.r god: house buying and education, and bad debt - buying unnecessary stuff (sadly like guitars) on credit.

Also it is frightening that so many don't seem to understand interest payments.

[Davis Webb]

Originally Posted by guitar george

I am not a cheapskate in any way, but, I do like to get a deal and save money whenever I can. I live in Vancouver, a fairly large city, that has pay parking lots and parking meters all over the place. One thing I like to do is find free parking whenever I can. I almost never pay for parking and almost always find free parking within about 6 blocks from where I'm going. I know almost every free legal parking spot in the city. I also like to walk, so, if I am within 6 blocks, that's close enough. I probably have saved many thousands of dollars in parking fees over the years if you count monthly parking fees that I could have paid when I worked downtown for 21 years. Parking fees can really add up.

Anybody else got any big or small money saving tips?

I bought a foldable bike last year which easily fits into my backseat or trunk. I drive to where there is free parking, residential neighborhoods, then ride to my destination. I bought the Tern 9 speed, after trying the MEC cheap version. I never pay for parking any more. I drive, park, unfold the bike, throw on the waterproof saddlebags with my stored rain gear...then lock it up or often just bring it in with me, the thing is small.

[lfoo6952]

If you are a senior citizen and go to restaurants, always ask if they offer senior discounts. Many restaurants offer the discount but do not publicize it.

[fitness1]

I don't drink, don't smoke, don't go out to eat (like hardly ever) don't buy fancy/name brand clothing. I don't drink coffee so I don't need to go to Starbucks. I drive a car that gets 40mpg combined. I live in less than 400 sq ft. I never got married or had kids. I could go on, but that's a good start.

[Paddy1951]

For those that would like to quit smoking... And save money.

Determine how much you spend on cigarettes each week. Set aside that much money. (I used a big jar to store the money.)
At the end of a year, use the money you did not spend on cigarettes for a reward for quitting. I bought a nice camera and lenses. Now, you might buy a guitar.

You will have saved your life, saved money, and have something tangible to reinforce your effort.

[Brucebubs]

Don't pay for a pot scourer - just pop your finger and toenail clippings in an old stocking.

[Riverwolf]

Originally Posted by Brucebubs

Don't pay for a pot scourer - just pop your finger and toenail clippings in an old stocking.

Bottled water.
Rinse, refill, repeat.

[ceciltguitar]

Lots of good advice here:

https://www.mrmoneymustache.com

[tbeltrans]

Originally Posted by fitness1

Don't drink, don't smoke, don't go out to eat (like hardly ever) don't buy fancy/name brand clothing. Don't drink coffee so I don't need to go to Starbucks. Drive a car that gets 40mpg combined. Live in less than 400 sq ft. Never got married or had kids. I could go on, but that's a good start.

Good points. Here are a couple of ways to save on eating out that I have not yet seen in this thread (somebody else already mentioned senior discounts)...

Some restaurants have a sign-up for emailed specials such as certain days of the week, they may mail out coupons for buy an entrée and get one free.

We typically go out for lunch instead of dinner, and do it at most, once a week. That gets us out of the house and we enjoy it just as much as we would an expensive dinner. Lunch can be as cheap or expensive as you want. We go cheap because there are low cost places that we like.

As an aside, I have always hated having to wait in line for somebody to finish at their table so we can eat. If I work all week, I certainly don't want to spend my time off waiting for a meal. Our solution is simply to go when other people don't. Now that we are retired, it is easier, of course. Mid-afternoon is generally a quiet time to go out to eat instead of during the lunch or dinner rush. Being employed in a professional capacity, we were able to do this when we were working full time too.

Tony

[imwjl]

Prepare your own food. Keep cars until they really are quite used.

[tbeltrans]

Originally Posted by imwjl

Prepare your own food. Keep cars until they really are quite used.

True enough. My 2000 Toyota Echo cost me $5k cash in 2004, and I am still driving it today. It gets the combined 40 MPG that another poster mentioned and has never cost more than a battery replacement for repairs in all this time. It still runs great. Of course, I keep it maintained.

Tony