3 Money Saving Tips I’ve Learned in 2010
Two months ago I set some pretty lofty New Year’s Resolutions:
- Not to use my credit cards and not to get further into debt
- Not to buy any clothes, shoes or handbags for an entire year
- Not to make a single purchase over $100
I would say the hardest one to keep has been to not use credit cards. It hasn’t been hard because I’ve been wanting to buy anything major or go on vacation or some other kind of frivolous expense. It’s been because I’ve actual began realizing how far outside our means we’ve been living. Just paying our monthly bills has been challenging, and I’ve had to dig into some savings accounts that I’ve been stockpiling for several years just to get by.
This month has been especially challenging due to a fun-filled weekend at the beginning of the month that left us strapped for cash the rest of the month. Here’s some strategies that got us by:
- Automatic savings — Every two weeks on pay day, I have an automatic transfer of $50 from our checking into our savings account. It’s only $50, but the gradual accumulation over just a few months has really come in handy during a pinch.
- Renegotiate utilities — We called Directv to see if they could give us a new rate, and they did! We cut that bill down by about $30 each month, and we got 3 months of Starz free!
- Pay yourself weekly — I only get paid once a month, and my husband gets paid twice a month. We divide up those paychecks into weekly allowances so we don’t find ourselves outstretched by the end of the month.
What are some of your favorite money saving tips? Leave your suggestions in the comments section.
Related posts:
- 3 Life Lessons I Learned In 2009 About Friendship And The Art of Silence
- Why You Should Fire Your Bank and Move Your Money.
- What your parents didn’t teach you about money or how to help kids understand spending
- Move Your Money–A Review of Five Austin Area Banks and Credit Unions You Should Look Into
Well, it’s old-fashioned, but I clip (and USE) coupons. There are some great coupon websites out there that help a lot.
I also try to shop smartly; I could not go an entire year without buying at least one pair of shoes. However, since I don’t have orthotic issues, weight issues or other health concerns (partially due to good genes, partially due to hard work [and I understand not everyone will see what I've written as a "good thing," but please be assured I mean no malice]), I can buy inexpensively. The clearance section at DSW, Payless Shoes, Ross, etc. I set spending limits and find the self-control to stick with them (I haven’t paid more than $15 for a pair of shoes in years).
And the hardest part, at least for me, is turning my back on being image-conscious. I am, after all, a girly girl. I would love to wear nothing but designer jeans, very expensive T-shirts, Jimmy Choos or Manolos, and have a Coach or Dooney & Burke bag. However, those items will not inherently enhance my existence, provide good health, augment my career, or truly just make me happy. So rather than spending, I find other outlets for creativity, happiness, activity, eating, etc.