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So normally we get on with how people can save money on buying 3rd party clippers or using 2nd hand models and a whole rafter of other hobby focused methods which we use and advise others with when people are on budget. However I thought it would be good to look at things from the other end and consider ways in which we can save money in our day to day life. Not quite at the "just eat noodles for 12 months" level, but more practical tips and tricks that you've found that help you save money. Since every bit saved means a chance at having more disposable income.


A few to get the ball rolling:

1) Eco Eggs. These are small plastic eggs that you put in your washing machine for cleaning laundry, instead of using chemical detergents or those little plastic sachets. You simply put the ball in and the mineral based balls inside it churn up and make the soap. Cleaner for the environment and also FAR cheaper since the egg will last for ages and ages. You can refill them very cheaply. They work best on cooler washes, so sometimes you might want to pop a stain remover powder in if you've got very stained clothes; but otherwise they work great on their own.

They also make some paired balls for the dryer, which have an incense stick inside them (also refillable) which help tumble around to spread air in the load (speeds up drying time) and also scents your clothes too. This is instead of those little fabric scent sheets. Again if you use them its a big saving yet again.

2) Electric firms (UK) I've noticed have started charging based on estimations of your meter reading far more so than in the past. They also seem to like overcharging on the estimations. Their argument is its building a "buffer" for the winter when you might use more electricity. However we've found that it can build up quite a considerable amount of overpay that they are holding onto. So a good poilcy is to check every so often and if its building up consider asking for a lower rate and also request a withdrawal of your money.
Unlike an oil firm that might hold your money for months so that you've got money there to buy oil directly with in one go; the electric firm doesn't need to hold a big surplus of your cash.

Get rid of credit card debt and/or loans asap. Also, if you do need to utilise credit facilities be it loan or cards, try to remain within 20-30% of total credit utilisation (£300 spent on £1000 card balance).

Basically, it costs you potentially huge in the long run. The difference between a 2% mortgage and a 4% mortgage over 25 years on a 250k house - just above average uk house price - is the best part of £80k extra in interest over that 25 years...

In line with the above, make a concerted effort to save anywhere from at least 10% of all pay checks, 20-30% if possible (or even higher) after deductions (including pension deductions).

If you can keep it around 20-30% it really makes you realise the value of money and curbs spending...

Then have an additional 10% being saved as an emergency fund, the idea being that it is money to be accessed if there is a dire need but doesn't impact on savings. Ideally you will have a few years of good luck so when a big car bill, or new boiler is needed, this should be able to cover it in full, or be a decent help without digging into your wages.

Lastly, and something I've had in place for this year that has been working very well for me... Rather than a spending limit for my disposable income, I have an item/experience/entertainment limit per week. Clothing is also included in this. I allow myself 1 item a week. If I want to accrue a few items, I have to save up weeks to do so. It makes me really consider whether I want an item before spending on it usually. I include all none essential items in this 1 a week limit, and include eating out etc.

I'm saving the best part of an additional £300-400 each month due to this specific tactic... Forcing myself to be more frugal is really paying off.

Even though that might be trivial for most people: cooking yourself and buying really basic ingredients instead of finished meals is often (at least here in Germany) much cheaper.
A bag of flour, a large bottle of olive oil, some yeast and a bit of salt and you can make a lot of pizza/bread for example for much cheaper than buying the "ready to go" stuff.

It's also astonishing how much food you can prepare from 100 € worth of potatoes, rice, flour, oil and seasonal vegetables compared to instant food and it's also much healthier.

If you are in a country with cheap, drinkable tapwater drinking water and tea instead of soda and other fizzy drinks also adds up over time.

Last but not least: it's amazing how cheap furniture you can get on Ebay classifieds (Ebay Kleinanzeigen in Germany). You always have people that just want the stuff gone and offer it for a couple of bucks or even for free if you just come and get it. I did the same a couple of times. Had a large sllightly damaged wardrobe and table I didn't need any more but who would have been a bit** to get to the dumpster. Put it in for free and a couple of guys came over and took it gladly. Win Win situation.

In line with the above about food and making your own... Make your own damn coffee.

If you get the average 4 weeks off work a year (so work 48 weeks a year), and spend £2.50 a morning, monday to friday on a coffee on the way to work, that's £600 a year. You can make a half decent coffee at home for around £0.10 (£0.30 if you want something a bit more high end out of a machine), and it's way better for the environment to use your own travel cup/mug every day. So yeah, anything from a saving of £528-576 per year saving... Best part of an army if you are so inclined.

On the topic of savings by not buying a cup of coffee a day:

Track your spending. Sit down for a month and log every penny. You would be surprised how “microtransactions” like a cup of coffee or a candy bar from the vending machine will add up. Like counting calories on snacks when loosing weight, tracking what you spend is eye opening. For those who hit the vending machines, a little foresight can save a TON of money. Buy in bulk at the grocery store. Portion things out at home (to prevent grazing the whole bag of chips in one sitting) BYOSnacks. For the cost of one pack from the vending machine you can get the family sized bag at home and munch all week. A couple bucks here and there every day add up a lot faster then you’d think.

As others have said, pay off debts. No investment will ever make more of a return than credit card interest.

Then, invest. There are plenty of programs that let you invest small amounts to learn how to use the market for your benefit.

Run your cars into the ground. Once the payment is paid off, run them until their maintenance exceeds a year's worth of payments.

While not technically in the letter of the thread, I think this is in the spirit of it: If you're having money problems, consider trying to make more money.

I'm not being flippant. Most money advice tends to focus on cutting costs, skipping that latte, and so on; but you should also consider trying to increase revenue, when possible. Yes, a lot of people can only get raises at certain points, the economy is bad right now, yadda yadda, but it something to think about if you are pinching pennies: can you make more money someplace else? Can you switch to a different role in your current job? Can you negotiate a raise? Are you getting compensated to the degree you value your labor? Would you be eligible for a promotion if you took a class, or classes?

These are all questions you should regularly address if you're having money problems, or really just in general if you are not where you want to be financially. Spend less, obviously... but also, make more, if you can.

Saving money goes hand in hand with astute ways to make income also, so I agree with the above... Though, diversify your income if and where possible. It means you are less susceptible to changes in the market, some of which you cannot control.

I have two businesses alongside my main income from my job, I'm looking to add a third soon. If my jog goes belly under for any reason, I at least have some income coming in as a safety net to tie me over. Alternatively you can get additional part time jobs utilising your skills here and there and choosing your own flexibility.

I actually believe this will be the norm in future mind, I think full time jobs will be a rare thing in the future.

Another thing: Baby/small children clothes.

Keep in mind that they grow so fast, that there are pieces of clothing they will only wear once or twice if at all. There are lots of people out there with loads of children clothes that are nearly new and that they don't need any more or at least not for the next couple of years. You can either buy them for cheap or try to find an "Exchange circle". We have something like this in the church my wife goes to. Besides from shoes I did not BUY any children clothes so far.

The same is true for baby buggies etc.

Don’t go food shopping when you’re hungry. Go after lunch, or have a snack first. This will reduce impulse spending.

And Shop By Meal. Work out what you fancy for dinner that week, and plan accordingly.

Learn to make soup. I’m super (souper?) lazy, so invested in a Soup Maker. It’s basically a kettle with a built in blender, but you don’t need one really. Soups are a solid way to increase your veg intake, and make use of wonky veg, or veg that is just about to turn. Even relatively fancy soups like Mulligatawny are a doddle to make. Serve with a crusty roll, and that’s a cheap, nutritious lunch right there.





Automatically Appended Next Post:
Oh, and to avoid false economy, look at the shelf label for the ‘price per 100g’ info. This is something Dear Old Mumsie snowed me when I was a kid.

It’s especially useful for weighing up Special Offers.

Example? Diet Coke. Right now, using Sainsbury’s website for reference, a 2 litre bottle is £2.05, or 10p per 100ml. A 1.25 litre bottle is on offer at £1, or 8p per 100ml. The more lunch convenient 500ml? £1.40, or 28p per 100ml.

There, and without considering other brands, the 500ml offers crap value. So why not grab the 1.25ml, and use a glass/swig from the bottle?

I'd go one step further than just paying off credit card debt. Stop using them altogether. The entire point of credit cards is for people to spend money they don't actually have.
Buy stuff in one go as much as possible, even if you have to save up to do so. Downpayments always cost more in the long run.
On a related note, don't use your debit card to pay for everything. Get cash - say $/€/£100 a week and use that for groceries and miscellaneous stuff. You'll have much better insight into what goes out than if you use the card for everything and only check what you have left every now and again.

Get a second bank account. One main one, then every month the day your salary arrives, put whatever's left in the main account on a secondary account. Just leaving it in the main tends to make you spend it. A colleague of mine even has multiple accounts, each for different purposes - one for vacation, one for emergencies, one for the house, etc.

Get your groceries one week at a time. A month if you have enough storage space. The more trips you make to the shop, the more extra stuff you don't really need finds its way into the shopping cart.

Don't throw stuff you no longer want or need away (assuming it's still in working order). Put it in boxes or other storage, and sell it a car booth sale or change it for stuff you do want/need at a swap meet. While you're there, have a walk around for cheap stuff you do want/need while your wife/buddy/parent/whoever's trustworthy takes care of your stall.

Know what things cost (especially true for big expenses, but smaller items add up too). If you don't, don't buy it the first time you see it. Look around until you have a good idea what's expensive, what's a reasonable price, what's cheap, and what's too good to be true - and maybe it'll randomly go on sale somewhere in the meantime.

Credit Cards are useful, especially under UK Law. They provide solid consumer protection, and you only need to pay part on credit to trigger the relevant Consumer protection law.

I'll post the whole quote, since it works better that way:

The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money.
Take boots, for example. He earned thirty-eight dollars a month plus allowances. A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. Those were the kind of boots Vimes always bought, and wore until the soles were so thin that he could tell where he was in Ankh-Morpork on a foggy night by the feel of the cobbles.
But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while the poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.
This was the Captain Samuel Vimes 'Boots' theory of socioeconomic unfairness.
Terry Pratchett, Men at Arms

As for how I got out of dept:
1. I 'shared a house' with someone, instead of living alone, and
2. Pay off the high-interest debts first. It sounds obvious, but the marketting of debt is meant to make you think about interest rates oddly.

On the subject of cheap goods - auction rooms!
You'd be amazed at the cheap cost of sofas, chairs, tables, wardrobes and even electrical goods. We've got a £30 fridge which has lasted for years and the only downside was the door handle was damaged when we bought it. An easy fix and now we've had good service for years. That's a vast saving over perhaps £300 or so for a new one. The only trick is having a vehicle/trailer/access too one big enough so you don't get stung on delivery costs; otherwise you can pick up a lot of household stuff very cheaply. Granted it might not be cutting edge new, but much of it will be functional.
Also do check out local ads for things like sofas - big bulky stuff is a nightmare to get rid of. There's also a thing with fire-labels in that auction houses won't take furnishings that don't have them unless they are antiques. So there's a body of sofas and chairs and such which are unsaleable through that avenue and yet are perfectly fine.

You do want to go a few times and spot some of the patterns, eg a pile of spades and shovels outside might sell for nothing; but cleaned up and polished they can sell for more when they are sold in the "modern interior design sale". So you do need to watch for patterns like that. You also have to decide the value of things to you and be firm on your budget and not get drawn into bidding wars. Sometimes you can do this by leaving a bid and not taking part in the auction itself (which might be what you have to do if time doesn't allow you to attend). Many are also well tied into live online bidding too.

Bran Dawri wrote:
On a related note, don't use your debit card to pay for everything. Get cash - say $/€/£100 a week and use that for groceries and miscellaneous stuff.

A good few superstores are now no longer taking cash and this will likely remain till health concerns about corona are gone. It wasn't even that they didn't want to touch money, but also because they weren't getting deliveries from the bank/doing runs to the bank etc... So whilst I do think this is sound advice its becoming harder to follow.

In the same line of thinking I've noticed its easier to monitor digital spending by doing digital banking. Don't rely on the monthly statement, get signed up digitally so that you can check your balance regularly

Always checking your statements is solid advice. Not only does it give a summery of what you spent, but you can make sure there are no fraudulent charges. Or payment posting issues. Back when I was married, we had an issue where due to the way checks cleared, we dipped into our overdraft fund without realizing it. That we then started accumulating interest we owed on.

Credit cards should be used for convenience, not credit. They are incredibly handy to have. And some will let you strech you money. I’ve got one through Amazon, and get points back that translate into free gift cards. As long as I pay it off every month, I’m not paying anything extra. But always look at the terms and fine print. Not all cards are created equal.

Ask for discounts. I work for a medical billing company. We don’t expect to get 100% of every charge paid. By the very nature of how it works, we write off thousands of dollars every day. The doc will bill a $2,500 procedure, but the contracted rate with the insurance company might get them paid $300 for that. If you don’t have insurance, ask about their charity care plan; they have one. Or tell them you are uninsured, and ask to pay at the medicare rate (which a lot of contracts are based on). You do NOT want to pay the full rate. But we’ll be happy to collect it from you. I’ve talked to patients on the phone who let their pride get in the way of their finances. “I pay my debts” is a great life philosophy, but with a little paper work we’d have cut your bill in half. And would not have noticed the loss, as we don’t expect full payment.

The other issue with using and carrying cash, is the temptation to buy small things because you have the money in your pocket. I dread to think how much I've blown on vending machines over the years, so getting a contactless card is actually a blessing for me.

 Ouze wrote:


I'm not being flippant. Most money advice tends to focus on cutting costs, skipping that latte, and so on; but you should also consider trying to increase revenue, when possible. Yes, a lot of people can only get raises at certain points, the economy is bad right now, yadda yadda, but it something to think about if you are pinching pennies: can you make more money someplace else? Can you switch to a different role in your current job? Can you negotiate a raise? Are you getting compensated to the degree you value your labor? Would you be eligible for a promotion if you took a class, or classes?

Or a side job or personal store kinda thing, doesnt have to be big.
Make money buying things at garage sales, then selling on ebay or craigslist(Yes it works)
Or find a way to make money off your hobby, buy and sell armies and stuff.

I think the barrier for a lot of people on buying and selling is often the mechanics of the sale itself.

It's very easy to do a bit of home garage sales or carboot sales or online sales; but ifnd that you're not actually making that much per hour in travel and sale times; or in fuel and packaging costs etc... Especially if you're not selling low buy super high value sale items.

I know that even just for casual secondhand selling I try and hang onto every box and packaging material that I get from deliveries so that I don't have to go out and find a random cardboard box etc...

Take care of the pennies and the pounds will take care of themselves is as good advice now as it ever was.

I have a budget for most things, and every penny I don't spend from those budgets goes straight into savings. Makes a massive difference over a year.

- DIY whenever possible (food, repairs, services, etc...).
- Not buying fast depreciating assets (ex: a new car). If needed, acquire 2nd hand for a somewhat similar condition but with considerable discount.
- Not buying products with extra costs based on brand if a similar but perhaps not-so-fancy alternative is available (ex: tech products or clothes. But happens to be very true for this hobby too!).
- If buying non-essential item (so most things), wait for discount periods (ex: black friday).
- Track every spending/income. Do monthly summaries, check possible saving areas by comparing alternatives (ex: commuting by car or public transport? Based on cost+time).
- Add more income: extra job, appreciating assets, passive income.
- Investing but do not have all eggs in one basket. Financial engineering if viable to reduce certain... uh... "expenses". Always DYOR.
- Try not to have addictions. Food cravings, drugs (even the socially accepted ones), etc... Accustom the palate, your body and wallet will thank you.


Works for me!

I'm definitely going to second keeping track of every payment and limiting your microtransactions.

I'm still only relatively young compared to most of the people on here, but stopping myself from picking up the little things here and there have really built up for me in the long run.

 Ouze wrote:
While not technically in the letter of the thread, I think this is in the spirit of it: If you're having money problems, consider trying to make more money.

I'm not being flippant. Most money advice tends to focus on cutting costs, skipping that latte, and so on; but you should also consider trying to increase revenue, when possible. Yes, a lot of people can only get raises at certain points, the economy is bad right now, yadda yadda, but it something to think about if you are pinching pennies: can you make more money someplace else? Can you switch to a different role in your current job? Can you negotiate a raise? Are you getting compensated to the degree you value your labor? Would you be eligible for a promotion if you took a class, or classes?

These are all questions you should regularly address if you're having money problems, or really just in general if you are not where you want to be financially. Spend less, obviously... but also, make more, if you can.

Generally if your skills are in enough demand that this works, you're not hurting for money in the first place.


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 Nevelon wrote:
And would not have noticed the loss, as we don’t expect full payment.

THEN CUT YOUR RATES!

Seriously, you have no idea how many people NEED health care and don't bother even trying to get it because they 'know' they can't afford it.

Making more money isn't just relevant if you are having money troubles. It is a great way to boost savings or help clear credit faster, even if you are financially secure. I still work as an examiner in summer (although not this year) and occasionally do private tuition, as they pay for things like additional holidays, despite being on a comfortable salary. Make hay, as they say.

Ah, now if you're struggling the situation changes- most of these tips and tricks are for when your income is stable and good enough for your bills.

If you're hurting bad, take advantage of the medical scare and your own resources-
right now Biolife will pay you about 70 dollars a donation for plasma. You can give that once a month, so it'll help stabilize you. Hair's a less frequent resource, but all you have to do is not cut it, and you can keep 100-200 dollars of emergency fund hanging around on your head that you can cut and sell every few years.

I would consider these less money saving tips and tricks, and more desperation hustles.

If you live in an especially hot climate, and frequently run your air conditioner, get some really good black out curtains, or put 2 regular curtains over each window that faces the afternoon sun. It will reduce your heating bill. There's a reflective film they sell too that you can apply to your windows, and it's a bit of a pain to put up but it does reduce energy usage.

 Vulcan wrote:

 Nevelon wrote:
And would not have noticed the loss, as we don’t expect full payment.

THEN CUT YOUR RATES!
Seriously, you have no idea how many people NEED health care and don't bother even trying to get it because they 'know' they can't afford it.

I very much get the impression you're yelling at the wrong person here. If Nevelon was high enough up the chain to be setting the rates, they'd be directly profiting from it, and if that were the case why encourage people to bargain for less?
I agree with the principle of the point, though - US healthcare is an absolute state financially, and I'd have to say that the point about saving money by asking for discounts applies far more to that industry than any other. In fact, in many it doesn't apply at all and will only earn people's ire (imagine the look a Walmart cashier would LOVE to give you, if they could do it without being fired, for asking if they'll give you their staff discount).

 Super Ready wrote:

 Vulcan wrote:

 Nevelon wrote:
And would not have noticed the loss, as we don’t expect full payment.

THEN CUT YOUR RATES!
Seriously, you have no idea how many people NEED health care and don't bother even trying to get it because they 'know' they can't afford it.

I very much get the impression you're yelling at the wrong person here. If Nevelon was high enough up the chain to be setting the rates, they'd be directly profiting from it, and if that were the case why encourage people to bargain for less?
I agree with the principle of the point, though - US healthcare is an absolute state financially, and I'd have to say that the point about saving money by asking for discounts applies far more to that industry than any other. In fact, in many it doesn't apply at all and will only earn people's ire (imagine the look a Walmart cashier would LOVE to give you, if they could do it without being fired, for asking if they'll give you their staff discount).

Yup. I’m just a minimum wage office drone, working the offsite billing department. I don’t set squat for policy or pricing. And while healthcare reform might cost me my job, I’m all for it. It is a hot mess, confusing, and full of traps and gotchas. I do what I can to explain things and work within the system to make things better, but there are rules I need to follow. And I do point out the loopholes that people can use when applicable.

Thank you for doing what good you're able to do.

If I can do anything to segue that back to the original topic - it's that the other field the point applies most to is insurance of all kinds, and that's not just a US thing.
By all means ask for any added extras you can with insurance, wherever you can, because you can bet when the tables are turned the provider will try whatever they can to weasel out of honouring payments in return.

I got very lucky with a car accident the other year - my car was parked, the offending driver was drunk so upon realising he'd crashed, ran from the scene... leaving the car in the middle of the road. So I was already in the lucky position of clearly being 100% not at fault. Per default insurance policy I would still have had to pay an excess (...why?! I've NEVER agreed with excesses, but anyway). I managed to get this waived by politely explaining to the agent on the other end of the phone that I had difficulty with the notion that I should have to pay anything for a known and accountable party's fault. She agreed... the excess got claimed on their insurance too. That would never have happened if I hadn't asked.

Please don't call me a redneck but I save a lot of money each year on food by hunting in the fall. Last year, I killed three dear and the year prior I killed two.I haven't had to buy any meat in the last two years.

When the wife is tired of eating red meat, I'll pack the freezer with quail and squirrels. Yes I said squirrels. If you've never had it, you'll never eat chicken again if its cooked properly.

I am not sure what the rules and regulations are outside of the US, but if your living here in the states, definitely look into hunting for providing protein. Not only is it cost effective and will save you money in the long run, but you are harvesting game that is healthier for you because its never been vaccinated or given antibiotics.

Not going to happen here in the UK. We're all petrified of firearms over here.

Not to mention that hunting in and of itself is a hotly political topic over here anyway, even before you work guns into the mix.
I appreciate the sentiment though, and I can switcheroo it to make it a little more UK friendly.

Don't be afraid to try different, cheaper types of meat - not every roast has to be chicken or beef. Heck, not every meal has to have meat, there are plenty of other ways to get protein and you can open your eyes to some tasty dishes without necessarily going full vegetarian/vegan.
Here's your starter for ten - mushroom risotto. The ingredients should cost you no more than a fiver, you'll get enough to make dinner for 4 or 5 out of that AND you cook it all in one pot, so it's even easy to tidy up and wash up after.