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Saving Money: Share Your Secret Strategies

When Americans start talking more about saving rather than spending, it shows that our consumer culture is changing. Everywhere you look, there are new ways to save money. People are putting their extra change in a jar, bringing their lunch to work, taking clothes to consignment stores, only using cash not credit cards—the list goes on. This got me thinking that there must be other people with strategies out there that can help people get through these rough economic times.

Do you have any strategies you’re using? Chime in and let me know. All of us could use a few ideas.

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jackie B

05.05.2009 Report

My husband saves his change all year so that we can use it on our summer vacation. It is just
amazing how much money you can save that way. Even with this recession, we still hope to
have enough money to add to our summer vacation fund.

Mary Olivar

04.28.2009 Report

When the financial world clashes last year and still going-on, and knowing that it came primarily from the first world country, I was intrigued and soon realized how did the American system of handling financial system is very different, using all the credit card. At that time, I was building my emergency fund, thanks to the knowledge shared during our Chapter Assembly. Since then, I used to write all my expenses in a notebook. I saved 10% of my income, I don't receive a higher income as others did, I'm only a minimum wager. I tithed for 5% (it should be 10% cause the other 5% were spent in church). I also started my other sideline of e-loading and AVON selling, though I earn very small, I believe that every small step takes a lot of patience and hardworking.

Mary Olivar

04.28.2009 Report

R Gilbert

03.13.2009 Report

All of America is drinking bad news from a 4" hose from the boob tube! We live in a great country that will survive this and many other 'recessions'. I know it's hard but us baby boomers have lived in abundance for the past 20 years. Our 401(k) balances shouldn't be valued any different than other assets we own. Just because our home loses value doesn't mean we are going to sell it so stay the course and review why you invested the way you did. Start by understanding what you own and go from there. Dave Ramsey is a good place to start when studying how to manage money. We all need to learn the difference between want and need. Do a spending journal for 30 days (don't show it to your spouse) and it is very revealing where your money goes. Worry won't make anything change but paying attention will.

Connie

02.27.2009 Report

JARS

I keep two of them in the cupboard. I have one for grocery money, one for spending money. Then I only take a certain amount of cash with me when I go to the store. It makes me much more aware of how much I'm spending and forces me to prioritize, avoiding many impulse buys. I don't take a lot of change to work either so I won't be tempted to waste it in the vending machines. Also since I live close by, I go home for lunch instead of eating out. When I'm short on money, I try to use up what I already have in my cupboards. That might mean tuna casserole or pancakes and eggs for dinner. These few simple steps have saved me a bundle of money!

Cenni Hong

12.26.2008 Report

Set aside money from your monthly salary for savings ( should be at least 20% ), insurances, credit card bills, phone bills, donations ( if any ), household bills, and the rest can be spend stress free. A bonus if we can still have money leftover from this leftover money.

Yard Sales

12.05.2008 Report

i use coupons, buy store brands and use ad matches!

Tammy Greer

12.05.2008 Report

I always pay myself first. That's the No.1 best financial advice I can give. If you make $500 a week, you should always take a small percentage of that amount and put it in a savings account. Also, try to buy what you can pay for at that time. Try not to use credit cards unless you can pay off the balance when the bill comes. I'm a big proponent of coupons and I use them regularly. I never pay full price for anything because eventually almost everything goes on sale. I love to save money and these strategies have worked for me and my family.

sheila k.

12.05.2008 Report

My financial strategy is multi-faceted, but it has worked well and kept me out of the credit card debt that has plagued so many Americans. I carry cash with me when I shop, and I will not buy anything on credit unless it is a car or a home. I have no credit cards. When shopping, I look for the clearance racks, shelves or baskets in the stores first and select items from those areas to purchase. In the grocery stores I look for the day-old meat bins and bakery shelves, and select items to build my menus around for the week. Rarely do I go out to eat. My major was home ec, and so I am a great cook and keep up with the trends by going to Martha Stewart's and other celebrity websites for recipes. Then I create restaurant quality meals at home. The result has been that I am solvent when many of my friends and family are faced with being foreclosed on from spending beyond their means.