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Rule number one: Buy only what you need or have to have and not what you want. Our landlord told me this when we first got married and moved in and I still remember it.
Is that cell phone really necessary. Those things are so expensive and I have lived 64 years without one. Brain tumors are up 25% too. Not having a cell phone may help with medical expenses.
Basic cable only. No movie rentals. If it is not necessary, you don't need it.
Buy groceries that are fresh and not processed. You will be more healthy and eat better on less.
I used to buy a lot of meals out, but since we have retired I find that I prefer to eat my own cooking. The food you get in restaurants, even expensive ones, is not as good as you prepare at home. I can prepare at least two meals at home for the price of one meal out and sometimes I think I can prepare three or four. Invest in a good 30 minute meal cookbook.
Do you have space for a small garden in your yard. My father-in-law called my first garden a sheet garden because it was about the size of a king sized sheet. We ate a lot of food out of that garden and a hoe was the only tool I needed. Tomatoes and cucumbers are so much better fresh out of the garden. You can also plant corn for corn on the cob together with halfrunner green beans and the beans will use the corn as stakes. Green beans are much better fresh too. Plant marigolds around the garden to keep bugs away.
When you start saving, be sure to check the interest rates of all the banks around and choose the highest that is safe. Interest rates count when you are borrowing and saving.
I know sometimes things happen to cause a person to have to make credit card purchases, but any time I start to make a purchase with a credit card, I think, "If I cannot afford to pay 100% for this, can I really afford to pay 120%. I would rather wait on things that are not necessary and save that 20% to purchase something else or maybe save it.
I read a book once on how to be more financially free. It suggested that cutting back is not the only way to deal with this situation. I don't know your circumstances, so I have no way of knowing what your options are about this, but the book suggested a second job or a private at home business. You are the only one that knows whether this will work. My son got a job helping out a neighbor who had an overflow of record keeping. He did this on Saturday morning for 1/2 day only when he would usually be watching TV and not doing anything anyway.
Most people who know what they are doing with their money buy cars 1 or 2yrs old and let someone else take the massive loss of buying a new car.
Exactly! I wish more people could understand that concept but they get so excited about buying a new car nobody has ever driven and because of that excitement they pay way more.
Buying a car 1-3 years old with low miles will save you a TON and the car will still be an awesome shape. You can also buy an extended warranty with it as well.
Ok guys/gals, I need some help. My new years resolution is to become debt free and live the rest of my life frugally. I know the basics of paying down debt but need some suggestions. My debts are $900 at 18.99%on credit card which I am vigorously paying off and should be done by the end of February. I have 2 auto loans 1st balance is $10392.96 at 5.95% with 4yrs 6months to go at $219/m, the second is $6253.89 at 5.9% with 3yrs at $189.33/m. I was thinking, the best way to do this is focus on the lowest balance car payment 1st and pay that off, then take that payment and start paying off the other. Is this the best way to do this or should I pay off the higher one 1st. If you need more info please ask and help. Thanks.
My wife and I used to buy everything with a credit card and pay off the balance at the end of the month (mostly ). We dumped the cards and went to using only cash allowances we give ourselves and use checks only for bills. So far I'm finding I actually have more money to spend every month. It's just too easy to overspend when you have a card in your wallet.
So, dump the card and go to cash, put the extra money toward the lower car payment until it's paid off (that will give you encouragement to keep going) and then move to the more expensive one.
My wife and I used to buy everything with a credit card and pay off the balance at the end of the month (mostly ). We dumped the cards and went to using only cash allowances we give ourselves and use checks only for bills. So far I'm finding I actually have more money to spend every month. It's just too easy to overspend when you have a card in your wallet.
So, dump the card and go to cash, put the extra money toward the lower car payment until it's paid off (that will give you encouragement to keep going) and then move to the more expensive one.
That is interesting, my wife and I put everything on a credit card like you all used to do and pay it off at the end of the month.. or just throughout the month. I do this because It pays me back a couple grand.
We haven't taken the plunge to just straight cash. That is the advice I give people because most can't handle a credit card properly. We don't over indulge on the credit card though, just buy what we need.
Ok guys/gals, I need some help. My new years resolution is to become debt free and live the rest of my life frugally. I know the basics of paying down debt but need some suggestions. My debts are $900 at 18.99%on credit card which I am vigorously paying off and should be done by the end of February. I have 2 auto loans 1st balance is $10392.96 at 5.95% with 4yrs 6months to go at $219/m, the second is $6253.89 at 5.9% with 3yrs at $189.33/m. I was thinking, the best way to do this is focus on the lowest balance car payment 1st and pay that off, then take that payment and start paying off the other. Is this the best way to do this or should I pay off the higher one 1st. If you need more info please ask and help. Thanks.
Gotta do the math on both loan, factoring in their interest rates and the speed with which you could pay them off - usually you want to pay off the highest interest one first for obvious reasons, right?
When I hade multiple debts I always took care of what could be easily paid off first, the smallet balances, etc. After that if there wasn't a great deal of interest difference I always went after the debt that required the largest monthly payment so I could free up the most money.
Can't add much to what has already been said except to emphasize the point about getting in the habit of paying cash for everything. It is a psychological trick that works amazingly well. When you pay cash there is a real feeling of loss when you have to part with the money that forces you to think twice about how much you really want or need the item you are purchasing. I can't tell you how many times I have decided against buying something or at the very least haggled a better price by using this strategy.
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). We dumped the cards and went to using only cash allowances we give ourselves and use checks only for bills. So far I'm finding I actually have more money to spend every month. It's just too easy to overspend when you have a card in your wallet. 
