Money saving tips

[cantdrv55]

Cooking for yourself. This is a no duh but I used to eat out all the time due to weekly business travel for almost 30 years. Ive found some really good recipes that I enjoy making and eating. My family actually likes my cooking too so that’s a plus. Recently we went to an IHOP and the check was $74 including tip for 3 people. That’s insane for pancakes, omelettes, coffee and OJ!

Got any money saving tips to share?

[oldE]

Buy durable goods.
Don't buy sheiss you don't need.

Best
Les

[Bill Douglas]

Other than saving money by eating at home, I think it's better for your health. Restaurant meals have so much salt added. Salt sugar and fat to make it taste good LOL

[1990C4S]

Drive an affordable car. Low maintenance, low operating costs, low insurance. Corolla, Honda, Jetta, etc.

Don't buy new furniture.

Don't buy meals. Eat at home, take your lunch to work.

Either don't get married, or stay married.

Put money into a retirement plan every paycheck.

Don't finance things. Ever. Can't pay cash for? You can't afford it.

Do your own repairs, house and car.

[DonDavis]

I’ll second the wise and sage 1990C4S.

Not much else I’d add.

Grow tomatoes, basil, thyme, peppers.

[Seahawk]

My first few tours in the Navy I volunteered to do, advice only, taxes for junior enlisted folks and some junior officers...the JO's were the worst, btw, just cocky enough to be really stupid with finances.

This was in the all paper all the time days in the 80's. so a bunch of receipt diving.

BTW, female enlisted were the easiest to deal with and, I kid you not, 90% had a plan. They were great.

Saving money on ordinary things is a mind set and it is learned behavior.

My advice has always been to review your finances quarterly for cost centers and potential savings. It takes about two hours and it works. But, the big ol' but, is that you have to have an accounting of your expenditures...the Five Whys comes from the data only. Hope, as they say, is not a metric.

[1990C4S]

Originally Posted by DonDavis

I’ll second the wise and sage 1990C4S.

The 'C' in my moniker is for 'Cheap'.

I prefer 'frugal'. 'Cheap' is reserved for people who don't tip when they should. Frugal people don't waste money.

[astrochex]

Originally Posted by Bill Douglas

Other than saving money by eating at home, I think it's better for your health. Restaurant meals have so much salt added. Salt sugar and fat to make it taste good LOL

Oils too.

[herr_oberst]

Originally Posted by oldE

Buy durable goods.
Don't buy sheiss you don't need.

Best
Les

Buy the durable goods you've had your eye on when they finally go on sale.

Eat right and exercise daily.

....or, live fast, die young and leave a good looking bank account for your family.

[Crowbob]

Tip: Spend less.

[wildthing]

This assumes you have means:

1. Live below your means. Food. Clothing. Shelter. That's it. And no, you don't NEED an LV or Chanel or whatever else is in fashion these days.
2. Food. Buy raw, whole foods. Cook at home. It's ok to enjoy a nice meal outside once a week to take a break from cooking. Limit alcoholic drinks to one each. Also don't buy soda at a restaurant. Drink at home.
3. In fact, cut soda, cut sugar as much as you can, except when it's in fruit, or a small amount to make food taste a bit better. Healthcare costs are in the top three of things that will send you to the poor house.
4. Downsize. You don't need that 4000 square foot house. (Garage maybe, since this is a car site.). Housing is also a huge expense.
5. Sleep on big purchases. Heck, sleep on non-essential purchases no matter how small. You only really need two pairs of jeans. One you wear and the other is in the laundry.
6. Buy things for life as much as you can.

I'm sure I'll think of more stuff.

[mjohnson]

Originally Posted by Seahawk

My first few tours in the Navy I volunteered to do, advice only, taxes for junior enlisted folks and some junior officers...the JO's were the worst, btw, just cocky enough to be really stupid with finances.

A few colleagues and I went on a family cruise on the Nimitz with another coworker who, along with his brother, naturalized here from Romania. Lt Commander he was I think - our guy from LA was/is a physicist in Los Alamos.

We met at the officer's place on Coronado and walked to the ship and this getting-almost-senior-ish officer was relating that he'd never buy a car as nice as many of these junior folk were driving away. I guess it's hard to wrestle a new "big" paycheck away from many of the new people on base - unless you're a car dealer...

[Alan A]

Vimes economics.
Good shoes.

[1990C4S]

Originally Posted by wildthing

This assumes you have means:


4. Downsize. You don't need that 4000 square foot house. (Garage maybe, since this is a car site.). Housing is also a huge expense.

I've made most of my money doing the opposite. Tax free capital gains in some places.

I will add this last suggestion: Look for ways to cut your taxes. The more money you have the easier this is.

[mjohnson]

Originally Posted by wildthing

...6. Buy things for life as much as you can.

So you're saying I chose wisely on those Umbro soccer shorts in 1991?

Just kidding. I'm totally on the "boots" concept. Currently wearing some 1000-mile Wolverines that were nearly the last from the original factory in Rockford MI in 2009 or so - and after three resoles with leather I "resto-modded" them with rubber soles. Those fancy Chicago/Horween leather uppers are absolutely molded to my feet by now. So comfortable...

[Captain Ahab Jr]

Don't buy new, unless you have to eg toilet roll, tooth brush, underpants etc

[stevej37]

Buy beer in the 15 pack instead of the 4 pack.
The price is lower.

[masraum]

Originally Posted by oldE

Buy durable goods.
Don't buy sheiss you don't need.

Best
Les

^this^ is huge. I see LOTS of stuff that makes me think "that's pretty cool!" But most of the time, it only takes a second to realize that the stuff would be interesting, but mostly sit around or end up in a drawer, box, or closet unused. It's kind of like the minimalist thing about "does this item give you joy." I do still occasionally buy things that might not get a lot of use, but bring me some sort of joy. But 99% of the time, if I don't think it's going to be used or appreciated regularly, I pass. I suppose the one other thing may be "what are the odds that I'm going to be able to purchase this in the future. Sometimes with old stuff that's getting scarce, I'll make the purchase if it's something that is getting harder and harder to find or buy for a reasonable price.

I had some tools that I sold when we downsized. To replace some of them the prices have doubled or tripled or more. I wish I'd saved a few of those items.

I guess I'm getting old. If I see something and think, "15 years ago, I bought one of those for $40," and then the price to buy the same thing today is $140, I'm pretty likely to pass unless I REALLY need it. I can afford the new prices, but I don't want to pay them.

[wildthing]

This one I admit I am unable to follow at the moment: eliminate or reduce your Starbucks/Peet's/whatever coffee place consumption, as well as those boba teas. I think I spend 300-400 a month on boba tea alone, 4-5 drinks, 2-4 days a week.

[wildthing]

Originally Posted by 1990C4S

I've made most of my money doing the opposite. Tax free capital gains in some places.

I hear you. There's something different about "making money". I'm saying if you plan on staying put for a long while, repair, heating, cleaning and other general upkeep costs add up.