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Saving money

ScareCrowReturn

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What are some good tips on how to start saving money??

I would like to do it without having to set up another account with my bank, prefer to do it with strong will!

Cheers
 

Dark Drakan

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Only buy the things you need and sell the things you dont, cut back on your expenses wherever you can do so.
 

Quistrix

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Honestly, the best way to do it is with a savings account. You get interest, though it is usually a pitiful amount. So, it's not really worth it. But using a savings account helps you keep it all in one place, and it's harder to spend your savings if they're not simply locked up in a piggybank, or whatever.

Spend less, and what you have left over you put away in a safe place. It's really that simple. Buy the cheaper option whenever you can, and don't waste your money on things you don't need.
 

Dark Drakan

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Set a certain amount a month aside in a separate account so you dont spend it and it will build after a while.
 

cheezMcNASTY

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What everyone else said.

The hardest part (for me at least) is resisting impulse buys.

Someone once told me that they keep their credit card frozen in the freezer so it needs to thaw out before they can spend. I don't know about that, since you can still shop the internet if know your card number. It seems really excessive anyway. The principle is there, though. If you wait and you still want it, then you can set up some kind of side fund so you can get it eventually.

It's never easy, but the best way to get around it that I've found is to convince yourself to wait. At the very least, you can start setting money aside for it little by little and get it a month later if you still want it.
 

Dark Drakan

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What everyone else said.

The hardest part (for me at least) is resisting impulse buys.

Someone once told me that they keep their credit card frozen in the freezer so it needs to thaw out before they can spend. I don't know about that, since you can still shop the internet if know your card number. It seems really excessive anyway. The principle is there, though. If you wait and you still want it, then you can set up some kind of side fund so you can get it eventually.

It's never easy, but the best way to get around it that I've found is to convince yourself to wait. At the very least, you can start setting money aside for it little by little and get it a month later if you still want it.

I always found myself purchasing games on release, then finding I have 4-5 games sitting there and I can only play one at a time. So some would always be neglected over others so I might as well have waited for them to drop in price and get them after im done with others. Something which ive tried to change this year and there are many games I havent purchased that I would have preordered without question before.
 

ScareCrowReturn

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Sweeeeet, awesome ideas.. I think I might actually get a physical piggy bank thing, and store my cash in it, and I cant get into it unless I smash it.. or something like that..

Im really bad for vidja gaems aswell, right on release, I always buy and never learn.. :(

I will start with my next pay week!
 

Tsuyu

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Sweeeeet, awesome ideas.. I think I might actually get a physical piggy bank thing, and store my cash in it, and I cant get into it unless I smash it.. or something like that..

Make sure its a very expensive piggie bank. That way you wouldn't want to break it and have to replace it.
 

ScareCrowReturn

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Make sure its a very expensive piggie bank. That way you wouldn't want to break it and have to replace it.
But.. that means I have to spend more money on the piggy bank.. my plan is flawed already
 

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Having had my own financial troubles lately, I made a list of things I could do to quickly rebuild my accounts and maintain them. Here are some cliffnotes from that list.

Budget - Keep the books. In my case, my problem was that I simply wasn't paying attention to what money I had left until I was scraping the bottom of my piggy bank wondering where the hell all my money went. An act as simple as just keeping track of income and expenses is a good way to make sure you keep the ink black instead of red. It's alright to set aside some spending money, it's too easy to make exceptions if you don't allow yourself a little fun. But before any big purchases, just take a look at the budget and see if you can spare the cash.

For the very, very short term - Sell stuff. Pretend it costs money to store all your stuff. In my case this was true with a storage unit I had. Anything you can't justify spending money to hold onto, sell it. Anything you don't need, don't want, don't use, you get the picture. Then when you're all out of crap to sell, you still have blood/plasma and if you're open to the idea, semen. Just a note, I stop at plasma.
 

Dark Drakan

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Gotta spend money to make money.

Major serverfart...

I'll fix it once I get on my PC.

Fixed it for you, did same to me the other day.
 

Angel

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All of the above.

As old-mannish as it may seem, keeping a small notebook handy to note down what you spend in an average week/month and what you spend it ON can help you figure out just where all that extra cash is going so quick. You may find the odd bus ticket when you could have walked or that shop-bought lunch when you could have made your own...that sort of thing. My brother in law tried this for a month and found out he was spending almost £200 on sandwiches alone. Like, seriously.

Bargain-hunt, ebay like a demon (both buying and selling) and use debit cards or cash only to avoid spending money you don't physically have. Say no to overdrafts, loans, credit of any kind etc unless you are absolutely certain your income can cover it comfortably enough. Get rid of anything you no longer really NEED to pay out for. It may be you can return to doing that one thing you have had to cut back on once your money is a little more kind to you but be brutal if you have to.

Don't forget that the average food shop is designed to make you go all around it before you get your stuff - the two most commonly-bought items are bread and milk. Most supermarkets stick the bread at one end and the milk waaaaay over to the other side so that shoppers go in, walk around, see all the offers and end up coming out with legwarmers, green tea and a discount CD of Celine Dion. Make a list, work out the rough cost and then take cash so you can't buy more than you can afford.

Back to the ebay point again for a sec - you can get new, shiny, lovely things for a fraction of the retail price if you look hard enough and play it smart enough. My eldest is into Hollister clothes. I object strongly to paying £70 for a hooded jumper unless said jumper is going to do my laundry for the next 5 years, make me dinner every Wednesday and clean the house daily. But on ebay I was able to get one, brand new with tags etc, for £20. Sure, you have to check it's all legit etc but sometimes if you see something you like, see if they have it on ebay too.

Price comparison sites are handy - even for stuff like games, clothes, tickets to places etc. Also, if you have the equivalent of Lastminute.com (I dunno if it covers your area or not), you can get rock-bottom priced bargains for going out, holidays, theme park tickets etc. And usually, better seats to shows than those who have paid full whack. EDIT: if you go to the Lastminute.com site, you can click on your country's flag and get to a partner site which I think covers some stuff but is not as extensive. Prolly only useful for bigger things like holidays etc.

Give yourself goals - make them monthly, weekly, half-yearly - whatever works for you. Then reward yourself for reaching that goal so that you don't get bored with it all. Rewards can be something little just to pep yourself up for the next bit of saving or you can save specifically for a reward. Because let's face it, as Queen said, interest rates are so shocking you're hardly going to be jumping for joy when your bank statement says you've earned $0.07 in 12 months.

Let other people know you're saving money - seriously, it helps avoid embarrassment or awkwardness when it's "your turn to pay" or "your round". Money is tight for a lot of people and if you have one or two other mates in the same boat, you can perhaps figure out ways of still doing the stuff you like but keeping the costs down.

If you really don't want another account and you start to wobble in terms of your iron will to save...pledge to give $X per month to someone you trust not to spend it so that you can't go and fetch it yourself and waste it all. It's not the best method though because unless you have something in writing (which I strongly suggest, even with family) you can't actually prove the arrangement if that person decides to dip into your funds and "borrow" some money until pay-day. Which never arrives. But it is an option, if not a great one.

/lived off virtually nothing for 5 years.

tl;dr - saving is good. Do it.
 

Tsuyu

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Don't forget that the average food shop is designed to make you go all around it before you get your stuff - the two most commonly-bought items are bread and milk. Most supermarkets stick the bread at one end and the milk waaaaay over to the other side so that shoppers go in, walk around, see all the offers and end up coming out with legwarmers, green tea and a discount CD of Celine Dion. Make a list, work out the rough cost and then take cash so you can't buy more than you can afford.

I don't know how it is over there, but the Swedish grocery stores have all banded together in a fiendish plot: they put all the sweet, sweet candy near the checkout! So while you're waiting in line to pay for your crap, you are tantalized by all the delicious sweets...*droool*
 

Angel

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I don't know how it is over there, but the Swedish grocery stores have all banded together in a fiendish plot: they put all the sweet, sweet candy near the checkout! So while you're waiting in line to pay for your crap, you are tantalized by all the delicious sweets...*droool*
There was this whole thing a few years back in the UK where they took the sweets away from the checkout to stop kids whining. It obviously didn't work because they're back there again now. They missed the point of the whole thing: kids are built to whine. And no kid likes shopping when they can be at home doing ANYTHING else. The sweets shut them up for a few glorious moments...
 

SamKing

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For most of us, learning how to save money isn’t easy. Every day and every place you go involves spending money. You want some money saving tips because deep down you can’t stop the flood of spending and I completely understand. I’m a reformed spender myself and I’d like to show you the way to financial freedom. Read more at: Money Saving tips ~ personalmoneynetwork.com
 

queenofdisco

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Good tips on saving money? Heres a list of don'ts;
-Don't Have an ebay, Amazon or Play account.
-Don't Sign up to LiveJasmin, especially don't get to know any of the models it gets pretty weird when they message you every other week.
-Don't link your paypal up to domino's.
-Don't buy cd's, dvd's & games then put them in the corner and forget about em.
-Don't tip at restaurants, honestly I got a right evil eye when I tipped 58pence at some italian joint.
-Stop eating junk food.
-When you have a savings account and the atm eats the card, make sure you get a replacement card.
-When a homeless person asks you for change don't ask him if he has any to give to you.
-When someone chases you down an alley and tries to mug you, mug them instead.
-Don't buy game magazines.
-Nothing on this list happened to me...... err honest :ermm: okay it did.
 

Tsuyu

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I thought LiveJasmin was a rice home delivery service, honest!
 
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