March 6, 2008

TT #52




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13 ways to save money

1. Accept frugality as your savior- If being a little cheap saves you money, so be it.

2. Cry poverty with style - Learn handy phrases like, "Lets eat somewhere cheap” or better yet, eat at home. You can save a bundle. Go out once a month instead of every weekend.

3. Don’t even think about it - Direct deposit is a savers best friend because the money is whisked away into your IRA, 401(k) or money market account and you don’t have to do a thing. Pretend like that money doesn’t even exist.

4. Don't overpay your taxes - Sure you love to get a fat refund from the IRS every spring. The fact is, however, you're effectively lending money to the government interest-free.

5. Raise your insurance deductibles - Reassess the deductibles for various kinds of insurance. If you can raise them, your premiums drop. How often do you have to actually use your insurance? Think of all that extra cash in your pocket that you are throwing out “just incase”.

6. Toss the catalogs – This is very common spending temptation known to man or woman. Chuck them straight in the trash.

7. Don’t pay unnecessary fees - Like the $1.50 you pay just because the ATM is right there as opposed to walking two blocks to your bank.

8. Bank your raise - You may find that measly 3% to 5% boost in the paycheck irritatingly tiny so add that to your direct deposit into your savings account.

9. Pay less for long-distance- Evaluate your phone bill and see how much you're paying per minute. It may be cheaper to buy a calling card.

10. Never pay full price - If you must shop, for pete's sake, discover the online world of discount Web sites or go directly to the clearance rack.

11. Recycle – You are already paying for that 12 pack, why not get a return on it?

12. Cut Coupons – It’s amazing how quick the savings can add up!

13. Haggle - You’d be amazed at who will drop their prices, fees and interest rates especially with airlines and hotels rooms.


34 comments:

SandyCarlson said...

Great list, Lori. You know, I stick the catalogs in recycling before I even enter the house after I get the mail. Lots of wisdom here.

MAGGIE AT COFFEESHOPMAFIA said...

GREAT list. I really need to re read it over and over.

Mama Kelly said...

"never pay full price" is something I drill into my girls' heads .....it is one of my own personal codes

Susan Helene Gottfried said...

I love to read catalogs. Since you have to get up and reach for the phone or computer to actually buy something, I'm safe. So I look and dream and then... recycle.

Joely Sue Burkhart said...

We're definitely working on eating at home more. It's healthier and cheaper! Happy TT!

pussreboots said...

Coupons only work on non-staple items and frankly you can save more by just not buying that boxed crap. Learn to make things from scratch instead.

A raise would be nice. I can count the number of times I've had a raise on two fingers. So there's no money there to make.

I had to stop saving to my IRA about ten years ago because the cost of living is so expensive here especially with my husband in school.

I never buy things from catalogs. I don't trust them and I don't like getting them in the mail.

Happy TT.

TAMY & the SGT said...

Great pieces of advice.

Chelle Y. said...

You always have such great advice!

Melanie said...

This is a great list- and I actually do everything on this list! Yeah me!!

crazy working mom said...

You are a great advice giver! :)
I loved #4!

Happy TT.

Nap Warden said...

Good advice my dear!

No Nonsense Girl said...

Great post Lori. I'm cheap, I'm really following this. My only addiction is lingerie. ;)

For the rest ask the guys on the church council, I'm the cheap one. ;)

Ha Ha Ha!!!!

Nicole Austin said...

Great list! I am a consumate bargain hunter and if at all possible, never pay full price.

Happy TT!

forgetfulone said...

# 5 and 6 are definitely on my list of how to become more frugal. Great topic for T13!

Nicholas said...

We get about 8 or 9 catalogs every week in the mail, but I toss them out unopened... not into the trash but into the paper recycling bin. We don't do coupons though. I'm not sure why. We should start.

The Gal Herself said...

What a great list! Very wise advice! As much as I want to bank my raise, it's tempting to spend. Rather than "all or nothing," I bank a portion of it. Every little bit helps. Same with the coupons. Thanks for putting these valuable reminders together. And thanks for visiting my TT.

Robin said...

Haggling is practically a way of life here in the Middle East.

tipsandtricks said...

Great tips!

Lori said...

You are so right. I really need to do more of these.

Darla said...

Oh, yeah. Whenever we get a raise, I automatically increase the direct deposit to the savings and retirement accounts--what we don't see, we can't spend. And I'm very good at finding deals.

Eating out tends to be a problem, but it's less of one since we made Wednesdays our going-out-to-dinner night. Which isn't quite like once a month, and we still tend to get the odd meal when we're out doing things on the weekends, but we used to be much, much worse.

susiej said...

This is a great list... we all over look these things... but they make a huge difference.

storyteller said...

Excellent and practical list! I was raised by a Dutch mom who taught me well, and one of the reasons I’m happily retired today is because I live frugally and always have. Learning to ‘haggle’ was a blessing indeed!
Hugs and blessings,

Open Grove Claudia said...

This was really fun. We decided to stop going out in January. Finally at the end of last month, we went out for restaurant week. It was funny because we were sick full and didnt enjoy it much. So there!

I've read that coupon shoppers spend 30% more at the grocery.

Happy TT!

jennifer said...

10 and 12 are my favs. They involve shopping. Um, may have missed the point here :^)
Have a happy TT - Jen

Chuck said...

well done, Lori! you're so right on all these. bravo and thx as always for your visit. happy tt :)

Brittany said...

Wonderful Blog and T13! Great ideas for saving money! We are currently working on the only going out twice a month thing. and I am struggling at the "don't pay full price thing"

Eliza said...

Great list. I give all catalogs to my little girl to pretend they are "her mail." She gets it, colors all over it and I never dare touch it after that. Happy TTing!

Journeywoman said...

Great list from another frugal person.

Happy TT

Greatfullivin said...

Fantastic List Lori! We are very cnservative.(cheap) It is such fun to save money and look for the best deals. Thanks for sharing this!

Laura said...

GREAT list! I would only add...COOK at home, from scratch is always less expensive than pre-packaged! Happy T-13!

TorAa said...

Lot's of good advices. Better than you got in most banks and finacial institutions, as they are only after your money.
Here in Norway, 96% of all bottles and cans are recycled, due to the fact we have to pay deposit (15 Cents for the smaller and 35 Cents for the larger (except wine and liquer)

Grandmother Wren said...

A very practical list -
you really know what you're talking about. My daughter is a single mom, I'll be passing your list along to her.

It's All Good! said...

Thanks for the great tips! Love being frugal. Have a great day.

Malcolm said...

2, 6, and 7 are some things that I employ on a regular basis. Along the lines of tossing catalogs, I also normally delete email newsletters I get from various retailers.