This thread is for any good way to save money, in basically any category (food, utilities, clothing, shopping, household items, etc.). Any hints/tips would be welcomed.

-- Buy in bulk.  Spend a few extra dollars to buy things you know you run out of quickly, like paper towels, toilet paper and pop.  That way, the next time you do your shopping, you won't have to buy those things, because you will already have plenty at home.  We do this for the above mentioned items.  Also, sometimes you can buy certain foods in bulk packaging, like chicken, steaks, hamburger meat....stuff like that.  This way you have plenty on hand for if you want fried chicken or a hamburger, and you don't have to spend money going to KFC or Burger King. 

-- Generic brands are just as good as name brands.  They often times are the same tasting food for a fraction of the price.  I buy mac and cheese, frozen veggies, cheese, lunch meat, salad dressing, oil, salt and pepper....the list goes on.  I've never once said "This doesn't taste like Kraft!".  If you dress it up yourself, you can make it taste better than name brand.  This saves a lot of money in the end, because when you buy Kraft or Velveeta, you're buying the brand, not the product. 

-- Coupons are cool and don't let anyone tell you otherwise.  I once saved $20 bucks between coupons and buying generic when I did the shopping.  That's $20 that can go towards other things.

Frugal Tips for food:


Bread
There is not a thing wrong with day-old bread, yet the grocery stores usually sell it for 10-50 cents less. See if your store has a regular rack for day old breads, rolls, and donuts from the bakery. If you have a freezer, stock up. I buy 2-4 loaves of garlic bread and 4-6 bags of rolls on almost every shopping trip and stash them in our freezer.
Hint: If you use the microwave to defrost bread, take it out of its plastic wrapper, wrap it in a napkin, and defrost for only 30-45 seconds at a time -- checking after each session. This will help avoid those hard edges that microwaves create on overcooked bread products.

Save bread crumbs from empty bread bags. You'll be surprised how fast they add up. Add them to meatloaf, use them to coat fried meat or top casseroles.


Coffee
I drink lots of coffee. If you do too (and if you're not one of those coffee fanatics that insist on a specific, exotic brand) then you might like this tip: reuse the coffee grounds.
If you drink coffee daily, you can save a substantial amount without significantly affecting the taste by using the grounds twice (or more!). Just add a small amount of new coffee to the old grounds. That old stuff still has some kick in it. This works best if you also use a permanent filter (wonderful thing!) instead of paper filters. You can store the used grounds in the refrigerator until the next day.


Household

To save money on garbage bags for the bathroom or a little wastebasket use your plastic grocery bag you get at the store. The handles on the bag can be tied up and tossed out in the garbage can.

A friend of mine taught me this useful trick to use little sample size soaps, hotel soaps, leftover soap scraps, etc. Put the soap in an old nylon and tye it around faucets outside in your yard. Voila! Now you can wash your hands with soap outside after gardening, walking the dog, etc.!

Shop at Goodwill. :D


BTW I agree with buying generic brands (sometimes that stuff is actually better) and in bulk.

When thinking of buying a new CD, check the local pawn shops and used CD stores first.  Often at times, after I've bought a brand new CD for like $16.99 or more, I will see it the next day for like $9.99 in a used CD shop

When thinking of buying a new CD, check the local pawn shops and used CD stores first.  Often at times, after I've bought a brand new CD for like $16.99 or more, I will see it the next day for like $9.99 in a used CD shop


Yeah, used CD's are the way to go. Since 1998 that's what I've done most of the time.

In fact, I almost always first check the "bargain bins" (i.e. they'll have, say 5 for $15 deals. Some might be just in less demand 'cause they're older. Others may have a missing cover, etc. but that's cool with me).

Don't spend it!

Don't go grocery shopping when you are hungry; I always spend about twice as much than I normally would if I do this.

Utilities are a fairly big expenditure. If your house has a lot of lights, and you tend to leave them on a lot, use those screw in flourescent bulbs. Yeah, they cost more initially, but the replacement 60W bulbs are as low as 2$ each now at places like Lowes or Home Depot (average is still about $7). They use about 12W of electricity, and last 4-10 times as long as incandescents. Over the life of the bulb, they more than pay for themselves, especially in the summertime where they generate less heat for your AC system to get rid of.

Only drawback is that flourescent bulbs aren't dimmer compatible.

IIRC, Windows are usually the main source of loss for both heat and cold. If the caulking is old or missing, go to a dollar store and get a caulkgun and to a hardware store for the caulk (~$4 a tube). Air leaks around windows are usually easily fixed.

Toilet leaks can waste a huge amount of water. To check your toilet, put a few drops of food coloring in the tank. If it shows up in the bowl, you have a leak. Changing the flush valve flap is fairly easy on most toilets (if you need more info PM me).

Cars: Keep your tires inflated to the correct pressures. This is one of the biggest and cheapest ways to save on gas.

Food: Believe it or not it's sometimes cheaper to eat out. Submarine sandwiches, with all the fixings, wind up about $7 each the way I make them, whereas Subway would be maybe $6 (not as good, but cheaper). Same with pizzas; frozen pizzas are usually 3.50ea; add in 2.50 for pepperoni (per pizza - I like a lot!), 75c for pineapple, and 50 c for jalapenos, and that's $7.25 (plus running a 5000W oven for 40 minutes - roughly 26c worth of electricity) = 7.50 + the time to make it.

I can go to Dominos and, with coupons, usually come out about 6$ for roughly the same pizza.

If you like candy like I do, buy the 8 or 10 packs of it - about half the price of individual bars.

Of course, Ramen Noodles at 10c a pack work too.

A Brita pitcher or equivalent will make good water much cheaper than even off-brand bottled water.

Off brand batteries can be as good as name brand, yet might cost only 1/4th as much.

Don't go grocery shopping when you are hungry; I always spend about twice as much than I normally would if I do this.

Utilities are a fairly big expenditure. If your house has a lot of lights, and you tend to leave them on a lot, use those screw in flourescent bulbs. Yeah, they cost more initially, but the replacement 60W bulbs are as low as 2$ each now at places like Lowes or Home Depot (average is still about $7). They use about 12W of electricity, and last 4-10 times as long as incandescents. Over the life of the bulb, they more than pay for themselves, especially in the summertime where they generate less heat for your AC system to get rid of.

Only drawback is that flourescent bulbs aren't dimmer compatible.

IIRC, Windows are usually the main source of loss for both heat and cold. If the caulking is old or missing, go to a dollar store and get a caulkgun and to a hardware store for the caulk (~$4 a tube). Air leaks around windows are usually easily fixed.

Toilet leaks can waste a huge amount of water. To check your toilet, put a few drops of food coloring in the tank. If it shows up in the bowl, you have a leak. Changing the flush valve flap is fairly easy on most toilets (if you need more info PM me).

Cars: Keep your tires inflated to the correct pressures. This is one of the biggest and cheapest ways to save on gas.

Food: Believe it or not it's sometimes cheaper to eat out. Submarine sandwiches, with all the fixings, wind up about $7 each the way I make them, whereas Subway would be maybe $6 (not as good, but cheaper). Same with pizzas; frozen pizzas are usually 3.50ea; add in 2.50 for pepperoni (per pizza - I like a lot!), 75c for pineapple, and 50 c for jalapenos, and that's $7.25 (plus running a 5000W oven for 40 minutes - roughly 26c worth of electricity) = 7.50 + the time to make it.

I can go to Dominos and, with coupons, usually come out about 6$ for roughly the same pizza.

If you like candy like I do, buy the 8 or 10 packs of it - about half the price of individual bars.

Of course, Ramen Noodles at 10c a pack work too.

A Brita pitcher or equivalent will make good water much cheaper than even off-brand bottled water.

Off brand batteries can be as good as name brand, yet might cost only 1/4th as much.


I find that off brand batteries do not last as long as better brand batteries.

Don't go grocery shopping when you are hungry; I always spend about twice as much than I normally would if I do this.

Utilities are a fairly big expenditure. If your house has a lot of lights, and you tend to leave them on a lot, use those screw in flourescent bulbs. Yeah, they cost more initially, but the replacement 60W bulbs are as low as 2$ each now at places like Lowes or Home Depot (average is still about $7). They use about 12W of electricity, and last 4-10 times as long as incandescents. Over the life of the bulb, they more than pay for themselves, especially in the summertime where they generate less heat for your AC system to get rid of.



Even better, turn them off when you leave the room

Make a budget. Put everything into two catagories: Needs and Wants. Get all the Needs first:  How much for utilities, rent/house payment, car payment (if you have one), insurence, food, etc. Make sure that you include a little to put away for a rainy day-it may only be about $10 or so, but put it away. Then, if there is anything left over, you can think about your Want list.

Making a list is a good thing and ONLY get what is on the list. Look at sales flyers and cut coupons-but be careful not to get something that you don't want/need only because you have a coupon. Discount stores are great. We have one that we affectionately call "The Dented Can" store. We usually shop there first and if they don't have what we are looking for, THEN we go to the grocery store.

When buying a big item (i.e. t.v. dvd player, etc.) shop around. Also, if you are buying anything on-line-definately shop around. Look at Google's Froogle and e-bay. Also, keep in mind S&H fees.



Cat

When thinking of buying a new CD, check the local pawn shops and used CD stores first.  Often at times, after I've bought a brand new CD for like $16.99 or more, I will see it the next day for like $9.99 in a used CD shop


Or pirate! :D

Saving for a rainy day works even better if you maximize the return for your money.  There are numerous bank options that guarantee you a certain annual percentage yield.  Of course, if you'd rather bypass the bank and put your money to the test (you could lose in the short run, but in the time that the stock market has been in existence, history shows that the market always rebounds in the positive direction over the long run), you can find a self-serve brokerage account either through Charles Schwab, Fidelity or one of the other etrade sites.  I used to do securities, and I think Midas does it now as his career.  Never bet against the American economy ;)

Shop at Goodwill. :D





heck ya! My favorite place to be! ;)

For most of the 90s I lived basically on the breadline as I mostly worked in temp jobs so I had to budget for the periods between contracts - and still be able to pay my mortgage.

Back then I was mostly paid in cash and paid all my bills in cash so the method I will outline below really worked for me (and for many others who liked my idea) these days I dont use cash so it wouldnt work.  But at the time it really saved me.

I made a folder with plastic sleeves.
In each sleeve I put a piece of paper with the name of a debt/bill and the amount (weekly amount) that had to go in the sleeve.

Here is my example from back then:
Mortgage - $100
Electricity - $10
Gas - $10
Phone - $10
Food - $30
Bus Fares - $20
Medical - $20
etc etc - basically a sleeve for every major and minor bill. Just work out what your bills cost per year then divide by 52 to get your minimum weekly amount - I rounded up to always ensure my weeky amount would be more than what was due.

then two more sleeves
Small Luxuries - $15 (small was things like renting a video, buying a bottle of wine, going to a film).
Big Luxuries - $50 (this was for saving for a holiday, or whitegoods or furniture etc).
(because I believe no matter how broke you are you always deserve a little luxury).

So each week I sat there and divided my paypacket up into the various sleeves and I only took out of the sleeves what I needed that day (ie the bus fares). When the phone bill arrived each month there would already be $40 in the phone sleeve. If the phone bill was only $35 - I would move the $5 change into the small or big luxuries sleeve.

It takes a lot of willpower. You have to really make sure you never "steal" from one sleeve to top up another sleeve etc. You have to be able to know that even tho you have wads of money sitting in your sleeves - each of those notes and coins have an allocated purpose and you cant just take it all and blow it on a spree. 
You also have to know its safe !  Obviously if you share a house with untrustworthy people it would pay not to advertise this method !  I personally had a safe in my home so it lived in there all locked up.

If I did overtime and got paid extra - I would divide the extra up evenly between each sleeve - then they would all be ahead.

I used this method for 10 years and it really saved me from losing my mortgage. I called it my "plastic sleeves method"  A couple of years ago I saw someone had patented the idea and called it "Money Bags". Sheesh - I never thought to patent my idea in 1991 !

Leave credit cards at home, and don't get a debit card.  Only use the credit card when you need it to hold or verify a purchase, then pay with cash instead of putting it on your card.  At this moment the fee use for debit cards have surpassed the fee use for credit cards because people are using them and figuring, well it is only a dollar fee, or two, but add that up over a month and see what the convenience has cost.

Leave credit cards at home, and don't get a debit card.  Only use the credit card when you need it to hold or verify a purchase, then pay with cash instead of putting it on your card.  At this moment the fee use for debit cards have surpassed the fee use for credit cards because people are using them and figuring, well it is only a dollar fee, or two, but add that up over a month and see what the convenience has cost.


You have to qualify for the right kinds of credit cards and debit cards are tied to the banks, which means you have to read the fine print before you apply for them.  If you get the right credit card, you can turn the tables on the banks and make them work for you.

For example, if you have an American Express Blue Cash Card or a Citibank Dividend Card, or a United Mileage Card, you can actually get rewards for every dollar spent on that card.  If (and ONLY if) you pay your cards on time, the EXACT amount spent per month, you will bypass the exorbitant interest charges, AND get the rewards promised by the card companies.  In essence, you have earned money for using money. 

If you cannot get these kinds of credit cards though, better not to think of them as an emergency fund.

Btw, Danoota, a $400/month mortgage?  :o  In Boston?  :o  You must be a good negotiator :D

Oh wait, that was BrianMannixGirl.  My bad.  But that's still a darn good mortgage in Aussieland right?

Btw, Danoota, a $400/month mortgage?  :o  In Boston?  :o  You must be a good negotiator :D

Oh wait, that was BrianMannixGirl.  My bad.  But that's still a darn good mortgage in Aussieland right?



My mortgage is 650 a month, damn good for Boston area.  It was twice that when I bought the house 10 years ago, but by paying up on the principal every month, and throwing in extra at tax return time, and taking advantage of refinance when the rates were low I have knocked 10 years off of my 30 year mortgage. I can do that because I drive a reliable used car(paid cash), use my credit cards in the way you stated, leave the debit cards at home, and I am not a sucker for "must have, must do, must look like" .  Oh yeah, and having a "fancy man" helps, too. ::)

a $400/month mortgage?  :o  In Boston?  :o  You must be a good negotiator :D

Oh wait, that was BrianMannixGirl.  My bad.  But that's still a darn good mortgage in Aussieland right?


As I said I was talking about an example back in the early to mid 90s ! At the time my mortgage was $40,000 (I bought at the right time in 92) so my payments were actually $89 a fortnight - but I always paid $100 a week when I was employed. That way I paid for my house in full 20 years earlier than my bank had hoped !

These days I have a luxury apartment in the city so my mortgage is somewhat pricier. The national interest rate went up this week so I havent seen what my new amount will be but its about $450 a fortnight now.

I have a revolving mortgage - also called a line of credit mortgage. Where my pay sits in there all month reducing the interest and I live on the credit card through the month - paying it in full on day 55 so no interest charges or fees etc.  A lot of people fail miserable with line of credit mortgages because they get too big a credit limit and think that the equity in their loan is there to spend. I ensured my credit limit was fixed at my salary minus my mortgage - that way I can never spend what isnt mine. The equity reduces my interest.

I believe that home loan interest is a tax deduction in the US. Here is isnt unless the mortgage is on an investment property not the sole lived in property of the mortgaged person. So we basically spend 30 years paying the interest before we ever start paying off the principal loan. The home ends up costing 4 or 5 times more than what price you started with. Its cruel. I am not a big fan of interest and thats why I chose the revolving mortgage - to reduce it as much as possible - plus whenever I have a lump sum of money for some reaso or another - I always put it straight onto my mortgage. With citibank my monthly interest was $2 less than my actual mortgage. Scarey !  Thats why I left them.

I have found some excellent ways to save money.

For one, if you already are in credit card debt (like I am - but not too bad), just keep paying them off and whittle it down as much as you can, and you'll notice your monthly payments get lower and lower. Put the cards away where they are not around to temp you. Use them inthe most dire of circumstances or for deposit reasons (like I used mine for a $50 deposit on a rental car, in which I know I'll be getting the money returned. It would hurt my checking account more using my debit card in that case).

Shop at dollar stores for things that you'd usually buy for 2-3x more at other places.

Don't overdo fancy gifts - I find painting something for someone is more personal and more thought out than buying a gift card and a card, and handing it over. Be creative, because when you're penny pinching - creativity is always needed.

Reap the rewards - Once you've made it to your goal of paying off debt - keep it that way! Cut up the cards and let them expire and if they send you another one come renewel time, store them away for dire circumstances and pay them off the instant you get your bill in the mail. It will make it that much easier in the long run.

I have found some excellent ways to save money.

For one, if you already are in credit card debt (like I am - but not too bad), just keep paying them off and whittle it down as much as you can, and you'll notice your monthly payments get lower and lower. Put the cards away where they are not around to temp you. Use them inthe most dire of circumstances or for deposit reasons (like I used mine for a $50 deposit on a rental car, in which I know I'll be getting the money returned. It would hurt my checking account more using my debit card in that case).


The reason the credit card's minimum payment goes down is because the card company readjusts your payment to reflect a lesser principal so that they still reap the rewards of your interest.  So even if the minimum payment does go down, keep paying what you were before.  In fact, let's say you have three credit cards:

Card A has $1000 and usual payment is $50/month
Card B has $2000 and usual payment is $100/month
Card C has $3000 and usual payment is $150/month

For simplicity, assume that Card C has the highest APR and Card A the lowest.  Pay off Card C first, then apply Card C's payment towards Card B's payment so now Card B is getting slammed with a $250/month payment.  Once Card B is paid off, take that $250 and apply it towards Card A (if it hasn't been paid off already) and now Card A is getting slapped with $300/month.  This saves you the time it takes to pay off all the cards AND money in the form of interest dollars.  Just because you no longer have to make a huge minimum payment doesn't mean you shouldn't ;)




Reap the rewards - Once you've made it to your goal of paying off debt - keep it that way! Cut up the cards and let them expire and if they send you another one come renewel time, store them away for dire circumstances and pay them off the instant you get your bill in the mail. It will make it that much easier in the long run.


If the credit cards have reward points/miles/dollars you should keep them, particularly if they have huge credit limits.  This helps you garner rewards every time you use the cards (pay them off before interest kicks in too) and also helps your credit score and your eligibility for good loans when you want to buy a car or a house.

The reason the credit card's minimum payment goes down is because the card company readjusts your payment to reflect a lesser principal so that they still reap the rewards of your interest.  So even if the minimum payment does go down, keep paying what you were before.  In fact, let's say you have three credit cards:

Card A has $1000 and usual payment is $50/month
Card B has $2000 and usual payment is $100/month
Card C has $3000 and usual payment is $150/month

For simplicity, assume that Card C has the highest APR and Card A the lowest.  Pay off Card C first, then apply Card C's payment towards Card B's payment so now Card B is getting slammed with a $250/month payment.  Once Card B is paid off, take that $250 and apply it towards Card A (if it hasn't been paid off already) and now Card A is getting slapped with $300/month.  This saves you the time it takes to pay off all the cards AND money in the form of interest dollars.  Just because you no longer have to make a huge minimum payment doesn't mean you shouldn't ;)


If the credit cards have reward points/miles/dollars you should keep them, particularly if they have huge credit limits.  This helps you garner rewards every time you use the cards (pay them off before interest kicks in too) and also helps your credit score and your eligibility for good loans when you want to buy a car or a house.



You got that right. You should definately pay off the higher interest cards FIRST. Credit card companies WANTS you to only pay the minimum. The best thing to do is if you are going to use them, make sure you can pay them off-EVERY MONTH. No interest charges (that's where they really get you). Also, make sure you pay them ON TIME. $30 late fees are a bit steep.




Cat

My friend sent me this link.

Its my turn to pass it on

http://www.thriftyfun.com/home.ldml

The reason the credit card's minimum payment goes down is because the card company readjusts your payment to reflect a lesser principal so that they still reap the rewards of your interest.  So even if the minimum payment does go down, keep paying what you were before.  In fact, let's say you have three credit cards:

Card A has $1000 and usual payment is $50/month
Card B has $2000 and usual payment is $100/month
Card C has $3000 and usual payment is $150/month

For simplicity, assume that Card C has the highest APR and Card A the lowest.  Pay off Card C first, then apply Card C's payment towards Card B's payment so now Card B is getting slammed with a $250/month payment.  Once Card B is paid off, take that $250 and apply it towards Card A (if it hasn't been paid off already) and now Card A is getting slapped with $300/month.  This saves you the time it takes to pay off all the cards AND money in the form of interest dollars.  Just because you no longer have to make a huge minimum payment doesn't mean you shouldn't ;)


If the credit cards have reward points/miles/dollars you should keep them, particularly if they have huge credit limits.  This helps you garner rewards every time you use the cards (pay them off before interest kicks in too) and also helps your credit score and your eligibility for good loans when you want to buy a car or a house.


Well, what I meant by what I originally wrote was to pay more than the minimum. That's what I'm doing already. All my cards are about equal in their interest rates, so there's really no winning for me on that. Probably my lowest is with Dell and luckily I have been able to pay off a $1000 debt within a year.

As a rule, on my existing (complete mistakes, as I call them) credit cards, I pay a total of $15 to $20 extra + the minimum. If I am so low for money on a certain month, I will pay the minimum reluctantly without throwing extra towards it.

I like your idea of continuing to pay the same amount as you always did even if the interest rate does go down. Again, with me, it can fluctuate, but I could do that when on certain months I have more money to put towards them.

Thanks for the advice  ;)

I'm just going to elaborate on what a few others have said:

AFA Generics: many of them are made by the name brand companies (especially batteries).
AFA Coupons: see if any stores in your area offer double coupon days or take expired coupons.  I know Jewel/Osco (and I believe Albertson's since they own Jewel/Osco) does take expired coupons.
AFA "rewards credit cards", one thing you might want to check is if the card charges a yearly fee.  We have a Chase "Toys 'r' Us" Visa and we get "Geoffrey dollars" for each $$ we spend.  We charge EVERYTHING we can on it.  We always make sure to pay it off each month as well.
AFA eating out:  DON'T.  If you MUST, try to eat places where someone you're with eats for free.  For example, on Mon/Wed, kids eat free at IHOP....Tues, they eat free at Benigan's.
AFA buying in bulk:  hamburger is usually MUCH cheaper (sometimes as much as $1/lb.) if you buy it in bulk.  If you don't use that much at one time, go ahead and brown it all, then drain and freeze it.

Another thing I do to save $$ is I ALWAYS buy stuff on clearance.  I honestly can't remember the last time I paid full price for any piece of clothing (except maybe socks because they don't go on clearance too often).  I also check and see if the store/mall has a "frequent shopper" or "VIP" club because you get additional discounts and it usually doesn't cost anything (or, if it does, it's just a few $$).  Right now, I'm wearing a Cutter Buck polo shirt (Goodwill - NWT), CK shorts (Sam's Club), VS bra/underwear (out of the clearance boxes) and I think I paid a total of $16 for the ENTIRE outfit.  If I had paid full price, it would be close to/over $100. :o

Unfortunately if you're a plus-sized person buying clothes in clearance isn't always possible.  I don't buy new clothes all that often, so that isn't a major expense for me.  However when I do, I always go to the clearance rack and see what's there.....I bought like 7 camis for $10 in a bunch of different colors since I wear them all the time. 

I don't buy generic batteries.....I tried that once and I went through more money doing that than I would if I had bought Duracell or Energizer.  I have a lot of things that take batteries like 4 remote controls and my personal CD player.  If I bought generic batteries for those things, I'd be spending money out the wazoo keeping them in stock.  That's one thing I'll spend the $9 on.