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I wrote the below for an acquaintaince who was deep in debt.
1. Eliminate cell phones
2. Eliminate cable/satellite tv
3. Eliminate DSL or Internet services.
4. Eliminate long distance calls.
5. Eliminate restaurant eating-breakfast, lunch, dinner
6. Eat healthy. Fresh vegetables/fruit less expensive than prepared foods
4. Eliminate snack foods/drinks. Tap water is cheap and snacks are unhealthy.
5. Reduce red meats and other expensive foods.
6. Eliminate magazine, newspaper subcriptions
7. Borrow books from library, do not purchase.
8. Eliminate hobbies.
9. Shop for clothes in seconds stores. Even Goodwill
I wrote the below for an acquaintaince who was deep in debt.
1. Eliminate cell phones
2. Eliminate cable/satellite tv
3. Eliminate DSL or Internet services.
4. Eliminate long distance calls.
5. Eliminate restaurant eating-breakfast, lunch, dinner
6. Eat healthy. Fresh vegetables/fruit less expensive than prepared foods
4. Eliminate snack foods/drinks. Tap water is cheap and snacks are unhealthy.
5. Reduce red meats and other expensive foods.
6. Eliminate magazine, newspaper subcriptions
7. Borrow books from library, do not purchase.
8. Eliminate hobbies.
9. Shop for clothes in seconds stores. Even Goodwill
Second month:
10. Eliminate ATM cards.
Third month:
11. Part-time job for you
Some great ideas; however, I would edit it to say find inexpensive hobbies.
Okay guys.... Time for some penny pinching. I'm new to this frugal thing so I could use some advice. I've looked over my budget and found some items that I could reduce costs on if i wanted to, so here is what is spend a month. Please let me know how you think i could improve:
Keep in mind these numbers are only for me and my wife:
Food - $350/month (eat out only once a month or so... mostly just grocery expenses)
Cell Phone Service - $95/month (verizon's most basic family plan plus $5/month for 250 text messages)
Internet - $41/month (Time warner roadrunner)
Phone line $21/month (AT&T - we don't use the phone, only have line for security system)
I am consdiering swtiching to AT&T DSL since we already have the phone line, that would cost only $10 more per month, then we can save $30/month over Roadrunner.
Okay guys.... Time for some penny pinching. I'm new to this frugal thing so I could use some advice. I've looked over my budget and found some items that I could reduce costs on if i wanted to, so here is what is spend a month. Please let me know how you think i could improve:
Keep in mind these numbers are only for me and my wife:
Food - $350/month (eat out only once a month or so... mostly just grocery expenses)
Cell Phone Service - $95/month (verizon's most basic family plan plus $5/month for 250 text messages)
Internet - $41/month (Time warner roadrunner)
Phone line $21/month (AT&T - we don't use the phone, only have line for security system)
I am consdiering swtiching to AT&T DSL since we already have the phone line, that would cost only $10 more per month, then we can save $30/month over Roadrunner.
What else do you guys suggest?
Well, the expenses that you list are pretty much necessities. So this is probably not where you need to be reducing your expenses.
How many movies do you go to (or rent) each month. Start reading books instead. Books that you get from the library.
Do you download music or buy music cds? Sign up for Pandora.com or listen to music at live365.com.
Don't buy Christmas presents. Bake goodies or repurpose items you already have into nifty crafts. (i.e. old t-shirts into pillows for example).
Make out a monthly budget and stick to it.
As far as food. Eat the best quality food that you can buy. Do not scrimp on food at all. But increase the amount of grains, beans and (in season) vegetables that you consume. Cut meat consumption dramatically (or completely).
Work hard at staying fit and healthy to reduce medical expenses.
Shop at thrift shops and yard sales for clothing and other items rather than buying new.
Find out where your family's money is going first.
Write down every single penny you spend -- even that 30 cents for a pack of gum -- for at least 2 weeks, preferably 1 month.
Cash.
Debit card.
Credit card.
Checks.
Change found in the sofa.
Yes, it's a pain in the patootey to do this. But buckle down and do it.
Where is your money going?
This is great advice, but expand it further to look at where everything is going. Look at your bank statements - are you getting charged to pay bills online? Do you get nicked for not having a minimum balance? If I go less than $3,000 in my chequing I'll get fee of 4.95...could you look at that? Talk to your bank and see what you can do.
Can you switch up credit cards? Lower fees, interest rates etc.
Do you use them at all?
Car payments, gas, insurance etc. look at all of that as well. How about mortgages? Can you switch to save money? What about your utilities? What about the house insurance?
Who knows, but look at absolutely everything. Take a snapshot of your entire life.
Last edited by The_gateway; 02-13-2011 at 07:44 PM..
Unless you can get serious about learning from Dave your not serious at all.
WOW!
Dave's not the 'end all be all'
For instance, when my financial adviser retired (To have kids... IMHO a mark of a GOOD financial adviser) I tried 'Dave's network' of 'Certified Financial Advisers'
Substandard would be putting it mildly.
Lota stories like that out there if you look. He admits (Or did over 10 years ago when I started listening to him) that he was only offering 'the same advice grandmaw gave, only we keep our teeth in.'
You keep up with the fanaticism though you hear....
Quit eating so much! Don't worry about whatever diet, just quit eating! You will save money and lose fat, guaranteed!
Locate the most expensive gym near you, plot out the longest route, walk there and back every night, forget the fee, you will lose weight just walking!
Or, perhaps you wanted more complicates suggestions
Any time you need to buy any object -- clothes, furniture, other household goods, tools, appliances, office equipment, cars -- ask yourself if you can get one used. I don't own a stick of furniture -- except for upholstered pieces and mattresses (I'm paranoid about bugs and fungus) -- that didn't come from an auction, estate or yard sale. You can often find perfectly wonderful (and even new with tags still on) clothing at stores like Goodwill. Charity resale shops are also a great resource. In most cities, the really rich people donate their clothes to shops run by ballets, museums, hospitals, etc. Some of the best stuff has only been worn once. I have a friend who gets all his business suits from an opera-run place. He's has some exquisite things that have the initials of one of the richest men in the country (who lives nearby) embroidered on the inside.
Craigslist is also, of course, a wonderful resource. If you don't see what you need, place an ad asking for it. This has often worked surprisingly well for me. I've even bought a house this way once. I said to someone whose home I liked, "If you ever think of selling this place, let me know before you list it." They laughed ... then only about a month later came to me and said, "Your question got us thinking and we've decided maybe we will move. We'd be much happier leaving this house if we knew someone we liked was getting it." We made a deal with no Realtors and saved a bundle. When I need a new car, I always tell everyone I know who treats their cars well, "If you're thinking of getting a new car, see me before you trade yours." For more than 20 years, I've known the owner of every car I've driven.
It's surprising how many people just need that little extra push to let go of something they own. Or some people, particularly car owners, are just too lazy to sell their cars outright and trade-in even though they could get more money selling. Just don't be a pest about it. If someone is going to do this, a mere word dropped in their direction is enough.
It also never ceases to amaze me how many rich people trade in perfectly wonderful things for new models and styles just because. Be watching for good deals all the time. And be ready to haul whatever you buy yourself. That always saves you even more money.
Then take good care of your stuff and hang on to it.
Two final things --
If you don't use very many minutes per month on your cell phones, check out Consumer Cellular: No Contract Cell Phones & Wireless Plans - Consumer Cellular
Rates as low as $10 a month, but it's only cost effective for people whose usage is low.
For books use the online Book Swap: http://www.paperbackswap.com/home.php
You get two free books just for listing ten of yours. Then you send out books in a one-for-one swap. It just costs you postage. It's called Paperback Swap, but they now do hardbacks, too. It's amazingly efficient -- to list you just have to type in the ISBN number and they even prepare the mailing labels for you!
Last edited by Jukesgrrl; 02-16-2011 at 09:47 PM..
Reason: Added something.
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