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December, 2024

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Saving money

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TheStudioCC
Posts: 2092 - Karma: 366
Dear NS,

How do you guys save money? Please post some tips/ideas on the best ways to stay frugal. PLEASE HELP ME NS!
Nov 1 2012 8:23PM
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BrewskiJr
Posts: 5738 - Karma: 1,478
You wait until November 6 when Romney is elected President then you start saving.
Nov 1 2012 8:25PM
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ryano
Posts: 4465 - Karma: 1,535
i have a few different accounts..

personal checking - budget how much i need for food, gas, and typical living expenses, plus a little extra for fun money.

business checking - is used for all stuff work related. usually just keep a set amount in this one.

bills checking - budget how much all my bills are for the month, and put that money into this account.

savings - whatever i have left, goes into my savings.

plus i have my rainy day savings, 401k, and roth IRA too.
Nov 1 2012 8:27PM
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*monsterskier*
Posts: 2671 - Karma: 61
willpower
Nov 1 2012 8:29PM
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Stainr
Posts: 1186 - Karma: -1,150
Saving is over rated. but really i have no idea how people do it.
Nov 1 2012 8:54PM
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volvotom
Posts: 2045 - Karma: 712
I use Mint.com to manage accounts and set budgets. I get email/text alerts when bills are due and when I'm approaching my budget for any one category for the month.

Only downside is that some purchases get categorized (automatically) incorrectly so I always have to double check and be sure it sorted them correctly.
Nov 1 2012 8:54PM
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llambert
Posts: 1005 - Karma: 81
i dont get how its that hard, its hard for me to spend money aha
Nov 1 2012 8:58PM
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JzD.
Posts: 1615 - Karma: 153
I just let it pile up. I don't impulse but, except the rare ~100.00 purchases about twice a year. I only buy the essentials and shit ill actually need, food, and by food I don't mean fast food because I'm a little hungry. The little purchases will add up quick, so even though its a for or six dollar purchase, it all adds up in the end
Nov 1 2012 9:01PM
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[~_~]
Posts: 20239 - Karma: 1,273
If you can't afford two of it, you can't afford it.
Nov 1 2012 9:01PM
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SlimDunkin.
Posts: 2065 - Karma: 361
Just set your sights on something you really want, and use that as a motivator for putting the money away for that. Ask yourself, would I rather have this small unimportant thing now, or have this big ultimately extremely gratifying thing later? For instance, I haven't actually bought myself street clothes in almost two years. All the clothes I own were either won/attained in comps/fundraisers etc. the other stuff is just hand me downs from my dad, because to me clothes are a small thing that will just extend the time I have to wait for this ultimately gratifying thing.
Nov 1 2012 9:06PM
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cool_name
Posts: 4295 - Karma: 3,131
have another account that you put a portion of every pay check into it. you can decide how big depending on your income and expensives, im still still a high school student and have no monthly expensives so i try to put like 50ish% of each pay check in but i think 10% is a good amountl. Then ideally set it up with your bank so that part of each pay check goes directly in to a mutual fund or something to grow. research one that fits how much risk you are willing to take
Nov 1 2012 9:09PM
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extravert
Posts: 1113 - Karma: 3,188
Pay cash for stuff. Watching those benjamins slip away is much harder than swiping a credit card.
Nov 1 2012 9:11PM
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TACO-DOG.exe
Posts: 11989 - Karma: 12,264
i take off $300 of each paycheck and put it into an account that i can't access.
Nov 1 2012 9:12PM
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Puns
Posts: 2052 - Karma: 429
Dumpster dive, don't buy shit you don't need. Budget yourself. Make it a fun challenge. Pay with cash. Spend less time trying to save money and more time making it. Don't eat out. Don't buy alcohol or drugs.
Nov 1 2012 9:15PM
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idskithat
Posts: 1314 - Karma: 154
not gunna get you money really fast, but a coin jar. everyday i throw coins in. i saved it for like a year maybe less and turned it in, and had like $200
Nov 1 2012 9:15PM
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LittleFoot
Posts: 1667 - Karma: 57
Don't get a girlfriend
Nov 1 2012 9:18PM
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Spinoza
Posts: 12763 - Karma: 3,846
whats the point unless its for a specific goal. i want to have fun, and once i get a real job ill make all that back so fast that who gives a fuck
Nov 1 2012 9:18PM
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steezbox
Posts: 1394 - Karma: 701
Make your own lunch/dinner all the time.
Just avoid going to bars.
Set your eyes on a bigger item to save up for.
Buy clothes at thrift stores (Seriously like $2 for some really dope shirts)
Don't ever use your debit/credit card - only use cash. This is hard, but you really do save a lot if you go through with it.
Nov 1 2012 9:19PM
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[hamnuts]
Posts: 2356 - Karma: 439
I try to put away 2$ (or whatever other amount I can muster up) a day into a jar or separate bank account that I just ABSOLUTELY do not touch until the saving period is over.
Nov 1 2012 9:23PM
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ForeverYung
Posts: 8385 - Karma: 2,060
So you would not touch it to save your mom? Bitch.
Nov 1 2012 9:24PM
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annex_
Posts: 1659 - Karma: 1,498
I take 20% of each pay check and put it in my TFSA, and 10% in a savings account.
I only use cash when I buy things, unless they're bigger purchases and I want insurance on them then I use my credit card.
But I rarely use my credit card or debit card.
I'll sometimes only put 40$ cash in my wallet, so I limit myself to that 40$ between pay checks.
Nov 1 2012 9:25PM
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1337
Posts: 31061 - Karma: 29,366
I save everything (once my bank account and paypal read less than $50 combined ):

I'm really bad at saving money
Nov 1 2012 9:26PM
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PeteSpin
Posts: 316 - Karma: 18
If you want to save money, don't buy tons of shit. Think in depth about the necessity of EVERY purchase, you'll probably buy a whole lot less.
Nov 1 2012 9:30PM
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Spinoza
Posts: 12763 - Karma: 3,846
k these are good points for spending less money
Nov 1 2012 9:31PM
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cope+
Posts: 763 - Karma: 870
lol wut
Nov 1 2012 9:38PM
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TheStudioCC
Posts: 2092 - Karma: 366
Thank you guys. I'm going to deliver an organized, powerful speech on how to save money tomorrow.
Nov 1 2012 9:47PM
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Alexander_Keith
Posts: 3204 - Karma: 25
Winner winner
Nov 1 2012 9:50PM
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FuckAllOfYou
Posts: 3864 - Karma: 2,518
still useful. jesus
Nov 1 2012 9:53PM
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skiminnesota
Posts: 9093 - Karma: 429
I just spend less than i make.
Nov 1 2012 9:55PM
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roddy116
Posts: 10636 - Karma: 7,521
free porn, learn to cook, basic cable, learn to make clothing, whore yourself off to fat chicks for 1000 dollars, bike.
Nov 1 2012 10:01PM
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2_fadez
Posts: 7780 - Karma: 4,183
I try and only spend 20% of what I make. Then again, the shit I spend money on is mostly trivial (snacks, drugs, clothes, ski gear) so I don't really need it to survive, which is why I can set myself a bar so low and still be comfortable.

Its hard to resist spending it, but you have to think for 'future you'. You got to realize that in the end, there are a lot of small things that add up in the end. Keep away from useless purchases like candy or munchies overall.
If you smoke, instead of buying gram by gram, just make a big purchase and sit on it. That way you save by getting a better deal, and if people ever want a gram or something off of you, you have the stock to make a little on the side also.
Nov 1 2012 10:09PM
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SirSpence
Posts: 62 - Karma: 5
SAVE ERRYTHING seventeen hunned and counting my neehgroah
Nov 1 2012 10:14PM
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blackmamba.
Posts: 969 - Karma: 56
25% of every paycheque goes into my TSFA

i usually have 2 months worth of my current salary just sitting around in my regular savings account earning next to no interest, but is highly liquid in case of a real emergency. really only ever needs to be topped up if i get a raise.

rest goes into chequing to pay off my credit. most of my purchases are made with credit because im really bad with cash in my wallet and i need to build up my credit rating. im good with managing my means so im not too worried about shitting the bed so to speak


realistically, i could and should be putting more away and/or opening up another account to start saving/budgeting for a car or home.

tips for guys:

i know it sucks, but make your own lunches and dinners. this shit adds up fast

if you can't afford to drive everywhere, don't. i know it hurts the pride a little, but busing here and there (if viable) can save you a ton. fuck it, biking or walking is even better.

party less. catch 22 cause this is usually how you acquire poon, but alcohol and clubs are the fucking pits in terms of spending

quit smoking. easier said than done, i know.

downgrade phones. texting, minutes and caller id is all you really need. plus im sure you've got an old ipod kicking around somewhere

update your wardrobe less frequently

sell unnecessary items

bartend a shift on the weekend. i dont personally, but a bunch of peeps i know do and make some serious bank in the process. you might burn yourself out but your wallet will thank you



Nov 1 2012 10:44PM
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blackmamba.
Posts: 969 - Karma: 56
TFSA* ^^^fail
Nov 1 2012 10:46PM
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Backyard.Skier
Posts: 5397 - Karma: 1,498
Just have like $500 or however much you can afford taken from each paycheque put into a TFSA and then your set.

so far I have saved around $14,000 and I'm going to party hard
Nov 1 2012 10:50PM
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theabortionator
Posts: 51915 - Karma: 165,700
It's easy. Don't waste money on stupid shit. If you're young which I'm assuming you are(If not let me know), you really don't have much financial responsibility. Get a summer job and work your ass off, save up some loot. That will come in handy for getting a car, skis, outerwear, whatever you need in the future. It's also a good habit to get into.

I saved around 1700 one summer just from dishwashing. Put it all into pan american silver bars and doubled it.

You don't have to sit at home and nver have fun to save money, you need to be frugal. If you go to see a movie, maybe don't go as often, don't buy an extra large soda and popcorn every time. Don't buy a bunch of candy. Don't buy shit that you don't need. If you're going to spend it, sometimes spending it on things that last for a while is a better plan. If you bought a bunch of shitty food, candy, soda, and it's gone, did that really get you anywhere? If you spend that on ski gear, or even an xbox game that you'll play for a while you would get more out of it.


Just try to cut costs. If you go to fast food spend 3 bucks instead of 10 bucks. Shit like that. You don't have to completely cut out buying shit. But If you can save a few bucks here and there it adds up fast.

Even if you don't end up a millionaire by the end it's a great habit to get into. The people that are already spending their whole pay check by midweek, before they even have financial responsibilities like rent, food, gas, insurance... are in for a rude awakening when all of the sudden they have a lot of $$$ they owe for things stacked on top.


Honestly when you're young you can save damn near 100% of your loot. I would sometimes save it all and buy something big. Buying a trampoline, a drum kit, snowboard, got me much more enjoyment than pissing it away slowly on junk food or other dumb shit.


good luck.
Nov 1 2012 10:55PM
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SacZiplock
Posts: 2405 - Karma: 513
No jiberish...


Srsly just dont spend more than you get . I usually spend nothing to 20% of each paychecks so yea money adds up real fast! But everything i pay is paid with credit... I dont like having cash money in my wallet. Just gotta be reslonsible with debit cardds....
Nov 1 2012 10:57PM
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Caspaaa
Posts: 4830 - Karma: 1,466
some good points in this thread, here's my number 1 rule.



only buy something if you still want to a month after you first saw it. this'll prevent impulse purchases/buying stuff off the internet that you end up not using.
Nov 1 2012 11:03PM
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llambert
Posts: 1005 - Karma: 81
you know how i know youre 12....
Nov 4 2012 7:39PM
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Guck
Posts: 528 - Karma: 221
You just need to be frugal. When I got my first job, I didn't touch a single paycheck for 4 months. There was nothing that I really NEEDED to buy. Just think things through.
Nov 4 2012 7:59PM
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