How to save Money

You could also make a list ever time you go shopping for anything. Stick to the list. If you see something that is not on the list don't get it. HTe other thing i started to do was to make a menu for every meal for a month and made my list off of that. It took some time in the begining but now it is really nice. When my husband asks what for dinner i just tell him to pick something off the calander. It was nice becuase then i really only bought what i needed. It also made clipping coupons easier. i well just go to the store with the coupons i know i am going to use. I get most of my coupons from the Sunday paper and the internet. I keep a pad of papper next to me when i wacht tv and when those commercials come on and say go to this web site to get this coupon i write it down and once a week go print them all out. I also use couponcat.com.

My husband is big on turning everthing off when not in use. the first month we did it our power bill dropped by $50!!! We also got neew windows and the bill droped by ____@____.com this helps!!
A.

Some simple things we do:

- I pack lunches for my family (in reusable containers, so a box of ziplock bags will last us for YEARS). Saves money on dining out expenses AND packaging expenses.

- I use collapsible wooden drying racks to hang clothes up to dry - even if I just leave them on the rack INSIDE the house in the middle of winter, it'll cut down the amount of time I use the dryer tremendously (typically I only run the dryer for about 5 -10 minutes per load instead of 30-45 minutes - just long enough to get rid of that "crispy" texture that many folks don't like about drip-dried clothes).

- get acquainted with your public library! Our 6YO twins LOVE library time and we love how they can read tons of books and bring them back to the library (they usually only want to read a book one or two times anyway) instead of paying lots of $$ and then having to figure out where to put all the books. We borrow DVD's from the library instead of going out to movies, too.

-get to know your local secondhand stores. Our library's "Friends of the Library" store has tons of excellent books (donated by people in the community who are clearing out their bookshelves) in good condition for a fraction of what they'd cost new.

- check clearance racks for kids clothes one size up. I've found things like girls leggings for $2-$5 not only in stores like Target but McCalous as well. I have a clear plastic bin for storing my finds so I remember to get them out the following year.

- check clearance aisles for birthday gifts. Arts and crafts stuff are big with my girls' friends and I stocked up on a bunch of craft kits (paint your own jewelry box, decorate your own scrapbook, etc.) that were 33-50% off. I keep them in a couple small moving boxes in the closet and when there's a b-day party coming my girls "shop" in mommy's craft sale box to pick a gift for their friend.

- Have a few easy-freezy meal ideas, like uncooked chicken pieces or pork chops in marinade in ziplock bags (just defrost and bake- I take the ziplock out the night before and put it in the fridge in a pan of water to defrost, it's usually defrosted enough to cook by dinnertime), or make a big batch of chili or lasagna and freeze a portion of it, so that you have stuff on hand that's a no-brainer to make when you don't feel like cooking. Also it's healthier and less expensive than frozen "convenience foods".

-buy dried beans and soak/cook them and freeze portions of the cooked beans for future use.

- be wise in your bulk (Costco) purchases - if some things are too big for your household, you might see if there's a friend or neighbor you can split those 20 lbs of potatoes with so you don't end up composting half your purchase.

- fun family activities don't have to be a big expense. State, regional, and national parks have many fun and educational programs that don't cost a lot of $. Family memberships to a local museum or zoo can be a great deal if it's a place your family loves to go to (we have a membership to the Chabot Space Science Center and, considering that we've been there at least a half dozen times since we purchased our membership, it's been a bargain!), plus your membership in one place often can get you discounted admission in other places.

M., I've been a 'save money' junky for at least the last 20 years and have found it to be not only helpful for my family, but an exciting hobby.

Since you are putting together a class, I'd suggest first googling "frugal lifestyle." That will get you started and probably give you more than enough information to fill a 30 minute talk.

If you can get your hands on a copy of "The Tightwad Gazette" by Amy Dacyczn (pronounced "decision), it will give you more great ideas than you can handle. It's an older book and out of print, I think, but just do a search at www.campusi.com and you'll find all the editions. That is one of my favorite book shopping sites - it finds the best price on any book on the internet.

You could make a resource sheet for your attendees. That would be helpful. You could list some great books and websites for them to research on their own when they get home.

Here's my favorite bargain resource: http://www.freelancebyu.com/

LOVE IT!! I have gotten so much FREE stuff by just subscribing to this lady's newsletter!

Also, many women talk about using a once-a-month cooking method to save money on meals. I'm sure it does save money, but when my kids were small, I couldn't carve out one whole day to cook meals. My sister and tried to complete a two-week plan once and it just about did us in! What I did find helpful, though, was a series of cookbooks called "Make-a-Mix" by Karine Eliason...I think the series all ended up in one cookbook eventually. Anyway, they were recipes for cooking large amounts of someting (seasoned ground beef, diced beef with a simple sauce, etc) and using it multiple different ways in meals. That one I could do, it saved us money (bought stuff in bulk when it was on sale) and we ate out less.

I could go on and on (and on and on) about this subject. I've lived it for the past 20 years. If you would like a few more ideas, feel free to send me a note and I'd be glad to help!

M.,

One thing i have seen people do to budget is designate envelopes with money(cash) in them.
1. groceries
2. entertainment
3. household
etc.
that way when the money in the envelope is gone, that's it for the month.

also, my personal belief is to forecast..we use quicken and it is the best thing ever. we can see how much money we have in each account (credit card, savings, checking, etc) and after bills what we have left. it's great for people who are bit TYPE A or need to have more TYPE A in them :) i used to make fun of my husband for using it, i just wrote everything down in my checkbook...now i can't live without it! i would definetly reccomend Quicken. it actually saved a friend of mine's marriage! they were having major money problems...good luck.

I know used items are not for everyone, but I love to shop at garage sales and rummage sales. I've gotten some of the most amazing bargains, like a brand new breadmaker for $8.00, a food processor for $1.00, a $40 chemistry set for $3.00! (Hint - try electrical items before you buy.)

Books can be bought for as little as 25 cents. Some items are even free (if you really want to save, check out www.freecycle.com). I get the fun of shopping and spend very little money.

You mentioned that the class you are working on is for church. I recently went through a class at church about money, and one of the things that impacted me the most is the principle that everything we have really belongs to God. I try to keep that in mind when I spend, "would God want me to spend His money on that?" And it also applies to caring for my belongings because they are really God's. Don't we take care of other people's things better than our own sometimes? If we take better care of our things, they will last longer and we won't need to buy new ones so often. There are many verses in the Bible to back this up.

This principle goes against our nature. We like to think that we earned the money so we can do what we want with it, but the Bible doesn't teach that. I usually wouldn't talk religion, but since you brought up church it seemed appropriate. I hope I don't offend anyone.

Everyone has great ideas! I would also like to suggest shopping for your insurance. Every few years, I find that if I obtain quotes on car and homeowners insurance from different carriers, we can save a little. I prefer the larger trusted companies like AAA, Farmers, Alstate and State Farm; they too can be competative.

For other great ways to stretch the budget, you can check flylady.com.

There are many ways and I'm sure you'll get some great responses, but here is one that i know very few people think of. It's an easy way to bring down the electricity bill... unplug things like cell phone chargers and toasters when not in use and turn off the power strip to the computer. When those things are left on or in the outlet they are still using electricity and you are being charged for it even if it's not going anywhere.

I've been doing the "pay yourself first" thing. My current employer does not offer a retirement program, and I have a frozen 403B and a SEP IRA, both of which have lost tons of money. However, my personal ROTH IRA is doing fine.

I do have an HSA, a health savings account, and I also put 50 in both a separate checking and savings account at a bank I don't have easy access to, USAA. I use WF for personal and BOFA for communal stuff. So I can see how much I spend on personal items and family goods.

When my checking at USAA tops 1000, I roll it into my IRA, and move half my savings at that account into the checking. If we need it for emergencies, we can use it, or if we want to take a vacation, I can drain both accounts without feeling too bad about it, especially since I know there is money in my HSA as well if I don't need it for my medical deductible that year.

I pay my bills 2X a month, and by bill pay, and I do it as soon as I have money in my account by direct deposit. This means I get credited for multiple payments each month, and I pay more than the minimum in total. The other thing we do is call every 6 months to get our interest rates lowered on credit cards. Right now is a good time to call, most banks and lenders are doing serious promotional discounts. This makes it even easier to make what I do manage to pay out count towards the principal. I also pay my SMUD and car payment twice a month, depending on what I have leftover at the end, I often try to double them so I have credit or lower prinicipal.

I also recently had to go back to school to defer the interest on my grad school loans. I'm a huge advocate of continuing education, and all you need is 6 units at an accredited school. Cool bonuses: student parking, student transit passes and student discounts and ECE child care can all be yours for the price of 2 saturday or night classes or sometimes distance/TV lecture learning through your local community college. Plus who knows? You could actually learn spanish or accounting and end up in a better job that requires some of those extra skills, or discover you are one crafty lady who can make serious art pay for you!

My other money saving mom tips: planting tomatoes, peppers, strawberries and peas on my patio and using a friend's yard for other bigger veggies; hunting for bargains online; shopping for kids books at used book stores; and accepting all donations from friends who have kids. I sort it all, and what I don't use for my daughter, I pass on to other like minded and thrifty mommas or donate to worthy causes.

Hi M.,
What my husband and I do when we are trying to save money is just buying the nesesitys. Im not sure if I spelled that right. But just keep it to the thing you absolutley need for a month or two and you will be surprised at how much you really do save.
S.

The June Reader's Digest has a good article about saving money with some practical suggestions.

check out this site www.Primerica.com. let me know if you're intrested in finding out more.

If you have an employer that offers this get a flex spending account. I have one for medical and one for childcare. The way it works is that it takes money out of your pay check before your tax is calculated (so you pay less tax) then that money is used to pay for eligible expenses. My medical account comes with a debit card that I use for co-pays, prescriptions etc. My childcare account is a reimbursement account so after I pay for day care I submit the receipt and the money is deposited in my bank. I have it sent to my savings account rather than my checking. If I can keep from dipping into savings I will have put $5000 in that account by the end of the year. That’s $5000 I didn’t pay tax on and I’m earning interest.

Here's my best advice on how to save money-- transfer some money from each paycheck into your savings account, so you never even 'have it'. Then, to cut costs: eliminate all but one credit card (for emergencies)-- there's something about plastic that's just too 'easy' for most people. Then, take a hard look at your life and see what really is expendable. Do you really *need* Netflix? COuldn't you just get movies for free at the library? Five mochas from Starbucks a week? WOuldn't cutting it back to one help your waistline and your wallet? In fact, with grocery prices shooting up, that's a good place to start-- in general, less processed foods are cheaper than more processed, and vegetables are cheaper than meats. Also, drinking tap water is about the cheapest beverage you can find. Those are the best I can come up with off the top of my head. Good luck!

Hi M.

First of all, congratulations on volunteering to do this!
The church I go to - Family Community Church (FCCchurch.com) in South San Jose runs Good Sense Financial courses where you learn about money from a biblical perspective. They have a class coming up in May which may be helpful to you.

Financial Freedom Class - All About Earning
Saturday, May 17 & Sunday, May 18
Saturday @ 6:00 PM / Sunday @ 9:00 & 11:00 AM

All the best.

M.

The best way to save money is to know where you are spending it. Advise your students to make a chart of their income and their bills so they know what bills they MUST pay each month. Let them round off for utilites and fuel costs.

Once they have the chart, remind them to also chart each and every expense, even if it a pack of gum.

This is the best way to actually "see" where a person is spending heir money. Hope this helps.

Pattib

If your company has direct deposit, you can usually specify more than one account. I used to put enough for the rent/mortgage into a dedicated account, but I padded it a little. If it never shows up in your regular account, it's easier to save.

We just renamed May as Moneless May and my husband and I have agreed not to spend any extra money this month. Having a name and a set goal has really helped us bring our lunches to work and no go to Starbucks every day.
I hope this helps and I can not wait to see your other responses!

There are a lot of good ideas presented here, but I have one not mentioned so far: Suzee Orman suggests to pay with cash for incidentals and small purchases whenever possible. NEVER give exact change, only bills. Take the change the store gives you back and put it in a "piggy" bank. My husband and I save about $30 per month this way ($360/year). The money can be used for a savings account, special day or evening out, or whatever you choose.

I am not sure of the web sight, but my sister uses this sight to get coupons and info when to shop for groceries. She then shops on double coupon days and she saves more than half the bill from all the coupons. She said she hasn't paid for toothpaste in over a year. Most grocery stores do have web sights with fantastic deals they email you every week. You usually just have to sign up on their sight. I don't know the web sight my sister uses, but if you are interested I could ask her.

also i want to add: cell phone - do you really need the 400 min a month plan? a lot of people just chat and chat needlessly. i used to have a $25 a month plan. now i switched to t-mobile pay as you go, and only use it for necessary calls. i think i paid $100 and the minutes are still good after 2 years.

One great way to save money is to shop at a grocery outlet (there is one in Berkeley, Vallejo and Fairfield i think) where you can get good deals on close-out items or things that are close to the expiration date (make sure it's not already expired tho). Most of the stuff is fine and you can save A LOT of money. Not just poor people shop there too!

Hi M.,

I have learned so many ways to save money but the one that really stuck to me was....

every time your at the store, there is always that one extra thing that catches your eyes. You HAVE TO have it, "just in case" right! Well, it's okay to just hold onto it throughout your trip. But, at the end of your excursion, while waiting in line at the register, hold your item, take a good look at it, if you think you still NEED it, take it, but if your unsure, don't take it, you can place it on hold or just put it out of sight out of mind, it'll be there the next day if you change your mind. =) I stick to this, and it works.

I always look for deals at the grocery stores, etc. I have driven the same truck for 8 yrs and it's paid for. I walk my dtr to school and back. I walk to work when possible. We pack lunches for school/work. We also pack snacks and drinks to take to the t-bal/softball games, becasue the snack bar is double the price. My boyfriend and I half our meals at restaurants, because it's too much food for one, anyway. Turn off/unplug anything in the house that is not in use. I downgraded my cable to basic. I never pay any interest on my credit card, I pay it off each month or I wouldn't use it. Plus, i get rewards dollars which, to me, is a bonus. Rent movies from the "Red Box" for only a dollar (per day). The list goes on and on, but that is what comes to mind right now.

I try to use the want versus need plan. The key is to not buy something you want when you first see it. Go home and weigh it out in your head. You will m ost likely com e to the conclusion that you can live without it thus saving you money. If turning off lights is a problem for you install the motion switches so if there is no movement in the room they will go off. Take a percentage of you incoming money off the top and put it in savings right away.

Hi M.. I try to save $$ by buying the off brands at the stores, doing full loads of laundry w/ cold water, researching the best deals on high priced items and not buying coffees or snacks unless completely neccessary! Good luck w/ your class.

I have certain "rules of thumb"- I do not pay more than a certain price for items (as an example, I do not pay more than $2 per pound for meat). Whenever possible, I also do not buy new clothes- I only shop at yard sales and thrift stores. That alone saves a lot of money! It may sometimes take a while to find everything you're looking for, but it is a lot less expensive overall, and a lot of times you realize that what you wanted in the first place you can do without.

Probably my biggest "money saving" advice is to try to find the minimum comfort level for everything, not just do things how you always do them. If you usually use a two-second squirt of dishsoap to wash the dishes, does a one-second squirt work as well? Does using only half of the normal amount of detergent work in the washer or dishwasher? If you are having a chocolate craving, would buying the regular size candy bar be good enough, instead of the king-size one? Go about your day looking for ways to use less or save money. Analyze everything you do to see if you could do things differently. Soon it becomes a habit.

There is an old saying from the Great Depression, "Use it up, wear it out, make it do, or do without." That is what I try to live by.

One thing you can do is to start writing down every penney you spend. Sometimes we don't realize how much money we spend just buying a soda for the drive in the car,etc. If you write down every penney you spend, you can see exactly where your money is going and how to cut out some of the spending.

For those with online banking, a great tip is to automatically transfer a little money each week into some savings account that you won't touch. We did a "santa saver" account one year. We put $20/week into it and didn't touch it until Thanksgiving for xmas spending money. Then tell yourself you have to stay in that budget and not put a thing on a credit card.

you can probably set this up w/o online banking but i love the ability to do that kind of stuff from my own PC at home.

My husband and I are leading a Crown Financial Ministries study this summer. Its a 10 week course and we have taken it before and it is amazing. You and your husband are welcome to join our group if you'd like. We will have the study on tuesdays from 6-8pm. Call me if you are interested. D.-###-###-####