You know about Money Saving Mom, right? You could hardly spend any time in the frugal blogosphere without coming across Crystal’s blog!
She’s not just blogging anymore, though…she’s found the time to write a book.
(considering how I struggled to get my little ebook done, I’m totally impressed).
I digress.
I was recently sent a review copy of Crystal’s book so that I could read it and share my thoughts with all of you.
Though I’m not much of a deal shopper, I’ve been subscribed to Crystal’s blog for a long time both because she does have a fair amount of content that’s not just deals, and because every now and then, I like to take advantage of a deal/sale she posts. If you’re only going to follow one deal/couponing blog, Crystal’s is a great choice.
Like her blog, Crystal’s book is written in an upbeat, conversational tone. It’s definitely not a dry read, which is lovely, because personal finance CAN be a really yawn-inducing topic.
The Money Saving Mom’s Budget
The second chapter in the book talks about decluttering and streamlining, which might seem like odd topics for a book about money. But, as Crystal points out (and I agree with her), having a disastrously messy/cluttered home makes it really difficult to stay on top of your finances.
Clutter takes up time and mental energy, and it often eats important papers like, um, bills.
I generally live in a somewhat decluttered state, but this chapter inspired me to tackle some of the clutter clusters in my house (reading my copy is what made me clean up my laundry room, actually!)
The chapter on budgets has a lot of good basics that will be helpful to someone who has never successfully implemented a budget, and her budgeting plan has three one-month stages, so it won’t be overwhelming to newbies.
Crystal got her blogging start by writing about coupons and deals, so it’s no surprise that she includes two chapters on couponing. But, if you’re like me and are just not a couponer, you’ll be happy to know that next chapter covers 25 ways to lower your grocery bill without coupons.
The last chapter in the book is about a subject near and dear to my heart: contentment. I wrote a short series on contentment, actually, and apparently Crystal and I share a lot of the same thoughts about contentment.
Who should buy this book?
Because it covers a lot of financial basics, The Money Saving Mom’s Budget
If you’ve been living a financially responsible life for years (that’s my boring story!), though, this book could still be beneficial to you because sometimes, it’s just good to be reminded of what we already know. For example, I know that clutter is bad for me, but reading the chapter on decluttering gave me fresh inspiration to tackle my trouble spots.
Oh, and I should tell you that Crystal is donating all of her book profits to Compassion International, so by buying her book, you’ll be helping your budget AND helping children in need around the world.
Two of you won’t have to buy this book, though. And that’s because….
I’ve got two copies of The Money Saving Mom’s Budget to give away to you all!
To enter, simply leave a comment telling me your best tip for someone who’s new to responsible financial management.
One comment per person, please. This giveaway is not limited to the U.S., so all of you can enter!
disclosure: I received a free copy of The Money Saving Mom’s Budget but was not otherwise compensated for this review. All opinions are my own. Amazon links are affiliate links.
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Today’s 365 post: “520 Broken Bones!”
Joshua’s 365 post: A Chinese Calendar
{ 506 comments… read them below or add one }
I think the best advice is to be happy w/what you have and don’t compare yourself w/others. Also, buy what you need, not what you want!
I WANT TO WIN A COPY OF THIS BOOK SO BADDDDDDDDDDDDD
My best tip would be *prayer*…all too often we start a big new endeavor with grandiose goals by pulling up on our own bootstraps. This guarantees failure and discouragement before we begin. Rather, go to the One who has the power to actually enable you to do what is right, the One who in Himself is all the fulness of Wisdom.
The most important thing for me, in trying to get a handle on my finances, was to track every single penny spent…at least for a while. I found that I really didn’t have a clue where all our money was going, until I forced myself to accurately track it.
I think the first step is to be aware of what you owe if you are carrying debt. Add it up. So many times we think we know where we stand until we see the proof.
The thing that works best for me is to stop and think before I buy something. Do I really need this item, or do I have already something else that will work? Will my life be better buy buying this? Can I afford it? After thoughtfully considering a purchase, many times I decide it is something I can pass up, and that saves a lot of money.
Have clear financial goals in mind, it makes sticking to a budget much easier.
Possibly a good place to start is to THINK about spending to get out of the trap of THOUGHTLESS spending. Can you go one day a week without spending a dime? How about two days now? Make a covenant with yourself or your family: If a purchase is made and something comes in to the home, something has to go. The end result is to THINK about every purchase. Am I willing to give up something in exchange for this purchase? And then think about the amount of work you exchange for the purchase…if I earn $10/hour and want to purchase a $30 widget, is it worth three hours of work?
Simple…For a happy life, want what you have!
Something that has really helped me is to never go below $xx in my bank account. I zero it out as if it’s not even there, so if I have a tough month, or I calculate something wrong, I have a cushion. It helps when you are living on a really tight budget, because you never have to worry about accidental overdraft fees or bounced checks.
The most important things for me were 1) pay cash for everything, 2) learn to love what we have 3) eat 99% of our meals at home and 4) really realize and know in my heart that if I don’t get something I want right now, it will still be available next month and the month after that and the month after that and the month after that…
Time flies and I can wait.
Spend less than you earn. I think that is #1!
I made a document called Outgoing Bills. I started with the first bill due and proceeded down the list with the amount, date due, and amount paid and when. When paid I check off and put date & amount paid and how (e.g. by check, online, by phone, etc). When each line item is checked I have one place to go (Monthly file box) to verify each was paid.
Slow down and enjoy what you have. You don’t need all the newest gadgets.
I’m searching for an easier way to track spending…am I dreaming? Right now I’m using excel and really only have 3 categories….food, gas and other….bills are easily tallied separately by the bank because I pay them online. I keep my receipts and enter weekly…ish onto a month sheet. Then I file all receipts by month. The tallies are not completely accurate because some receipts actually contain both..when shopping a big box stores so the tallies are a bit off I fear. Also repairs end up in the other category which doesn’t seem right. I’ve heard you speak of quicken, how many categories does it have? How many do you use? How do you file your receipts? Do tell…if thats not prying too much
Love your blog, thanks for sharing
Paper reciepts are filed by the month
When you first get started – esp on your own – def track everything. You don’t know what you can cut back on until you know what you are spending your money on!
My tip is to have a plan. Know what your goals are (long and short term)!
Tracking your spending. It’s tedious, but only then can you really see where your money goes.
I am just starting out but would love this book
My best advice is to find contentment in the small things in life. My husband and I live a much different lifestyle than our wealthy friends, but we are happy with what we have, not with what they have.
My best advice is to never pay retail for anything. That doesn’t necessarily mean coupons, but at least wait for sales.
It’s already been said several times, but that is because it is so important. Track your expenditures. Balance your accounts everyday if you need to for a while. Always know where your money is going. It is amazing the motivation you will have to trim, adjust, and rethink what you are spending where once you actually take note. Thoughts like, ” Wow! I spend that much on soda? I could buy two pairs of jeans, a great pair of boots, and get a manicure this month with that!” or “We could take a trip to the beach for the weekend on this!” will fly through your mind.
The one idea that has saved my husband and I the most money is using Dave Ramsey’s envelope system for weekly purchases rather than a credit card. And of course what others have already said- be happy with what you have!
My money saving tip–I make leftovers just about everyday for me and my 2 children for lunch. This saves so much money-no lunchmeat, extra bread, no bagged chips for “lunches”. They don’t really mind and I know the meal I made the night before is a healthier option than lunchmeat and chips.
My advice: re-evaluate what you “need” — much of we think we need we really just want.
I am what you might call an intermediate frugal person – not a beginner, but not a pro yet, either. I love reading things from all different perspectives. I find that by keeping an open mind, I always learn new things.
Take one day at at time and set reasonable goals. Consistent little steps will make a difference over time.
Most people don’t realize the peace that comes from having a large emergency fund in the bank. It takes away any daily financial stresses (oh no! the car needs new brakes) and gives you the freedom of choices (for example, walking away from a bad job, working part time, or staying home with your children.)
The majority of the “thing” purchases we make give us a very short period of happiness. This drives us to keep buying to get the next short-lived “high”. Getting off this cycle leads to savings and contentment.
It took me a long time to figure out that I would rather have money in the bank than lots of things, but once I did, it became much easier to walk away from most impulse purchases.
The most helpful thing, that I have found, is to record every expense of the month on the calendar. That way you can see, at a glance, what is due and when, and how much you will have to set aside per month.
If I’m thinking about buying something, I like to put it on a “30 day list”. Generally by the end of 30 days I’ve talked myself out of buying it!
clear goals and being honest with yourself…time to look in the mirror and admit that you are financially fat as Dave Ramsey would say!
Consume less, save more, give more. Learn to be content with what you have. New is not necessarily best.
Keeping track of every penny that you spend is a big eye opener for this household. I have been hearing about this book and I would love to check it out. Thanks Kristen!!
The most important thing for me was menu planning. It is amazing how much money food can suck out of your budget, especially if you have to toss the food out because it’s gone bad before you can use it up! Sitting down once a week to plan the meals for next week has reduced my grocery budget by at least $150 a month.
My best advice is the cash plan. It works every
Month. You just make smarter choices when you are taking cash out of your wallet.
Save money all year for Christmas. That was the first step my husband and I took to break our cycle of bad habits with money. We took a raise (minus giving and retirement) and stashed it all in a separate savings account.
Keep a few home cooked dinner ingredients in the freezer at all times. Things such as shredded chicken and cooked ground beef. Also tortillas, frozen peeled shrimp and a few frozen pizza. One of our budget busters was getting home and not having dinner planned, having hungry kids so the answer was lets go out. With these items and a few pantry items I can quickly pull together a meal which saves us lots.
Think “need”, not “want.” Easier said than done. Write every expense & income down!
I think the first and one of the most powerful steps is to write everything down. How much you earn, your bills and your debt. You will be surprised…Sometimes positively in that you really have money left over each month is you stop your unconscious spending….
Two biggies for our family: keep track of your spending daily and discipline yourself to eat at home.
If you’re married, I think it’s important to talk with your spouse and be on the same page about spending, saving, debt, etc. We have a budget, and it’s so freeing to know how much we can spend on certain things each month.
Track everything. What you spend, what comes in, what you want to have. Without data, you won’t be able to plot a course.
Pay in cash. My hubby and I went through a Crown Financial small group with our church and I realized how blessed I was to be married to such a smart thinker. Aside from my Kohl’s card (which I pay immediately after I purchase something at the store), we do not have any credit cards. But I try to pay for most items with cold hard cash (not even the debit card) because having to hand over something green is usually more difficult than a small piece of blue plastic.
I’m a newbie to your blog for the last couple of weeks, but our lives seem quite similar, so I love reading each new post. Thanks for welcoming me into a part of your world!
Know exactly what your debt is. I think it’s a really scary thing to see that total sometimes, but you really need to know it.
Like trying to lose weight, be accountable. Keep a written diary of what you spend (or eat) and you’ll be amazed where the money goes.
I’m so excited about this giveaway! Still astonished that she chose to give away the money from writing the book. Wow, totally inspiring!
My tip would be to pay off debt using the snowball method. It’s tried and true, but that’s because it works for everyone… if you actually do it! I’m still using this to pay off some student loans as my husband goes through graduate school, and I’m looking forward to the day when we’re 100% debt free.
The best advice I would give would be to pay yourself first once you get paid. A little spending money can go along way. I have found when I don’t do this I ending up spending it plus more on something that I think I can’t live without. Also use cash and track every penny.
Pay off your debt as quickly as you can! Or never go in debt!
I agree with most of the other posts. Track what your spending and really analyze it. It opens your eyes when you add up all the starbucks runs or all your lunches out!
My tip is to plan for gift giving occasions ahead of time. There will be unexpected birthday or wedding invites, but your anniversary, your child’s birthday and Christmas are the same day every year! Be sure to include them in your budget and when you see great deals or clearance sales, think about who you could be buying for!
My first piece of advice is to keep track of everything you buy for 3 months and put it in a spreadsheet…it is very interesting to see where your money is actually going!
My thought to someone beginning the journey of financial responsibility, is to be patient. You’re not gonna get it right the first month or maybe even the first year. You learn as you go.
Thank you for this post Lucy. We’re just starting out and it helps to be reminded that it won’t all come together in an instant.
1. Get rid of your credit cards. Negotiate with the card holders if you need to so that your monthly payments (if you have outstanding debt) are manageable.
2. Create a price book of common grocery items that you buy. That way, you have a realistic price point in mind for what’s a real deal. For example, I try to never pay more than $2 for a loaf of bread. A sale price of $3 is no sale at all, no matter how many orange “SPECIAL MARK DOWN!!!” stickers are on the shelf!
My number one suggestion is to avoid temptation. Don’t window shop. It isn’t fun and all it can do is make you discontent and/or even worse get you off track on your goals.
Look at a budget as a challenge rather than a burden, you can climb that mountain!
Write down EVERYTHING! you can’t determine where to alocate money if you don’t know where it goes.
Don’t ever charge anything unless it is an absolute true emergency. It is so easy to run a credit card up to where you really feel like you’re drowning. I’ve been there.
My first advice to someone would be “record keeping.” You can’t begin to make progress until you know how much is actually coming in compared to what is going out. Once you have that, you can start looking at what expenses are required and what ones you can reduce or remove entirely. But you won’t be able to do anything until you actually know what is going on.
Lots of things I learned on this blog actually – for example, we do best when I plan meals and stock my freezer with some easy things to pull out on nights when we get home late (unfortunately a much too frequent occurrence.)
No matter how much you pay at the grocery store, it is always cheaper than going out for the same meal. We love good steak, and even paying 12.99 a pound for it is still way cheaper than going to a steakhouse. Same with other “luxury” meals such as seafood. And why anyone would pay $20 at a restaurant for risotto (essentially rice!) is beyond me. (Not that I would know how much it costs from experience ahem.) Even if I buy the good arborio rice and parmesan cheese to do it at home, it is essentially a $6 meal for the whole family.
Meal plan…and use what you already have on hand! Trying to reduce out supply and cut down on shopping trips. Makes a big impact on the budget!
I think being mindful of debt and of your spending is the biggest tip. #1 if you don’t know how much you owe or are in denial about it, you don’t realize how to handle the situation. Also it is so easy to spend money mindlessly and a lot of times we don’t realize how much we’re spending on a monthly basis because we just think of it on a day to day basis. Thanks Kristin!
The very first thing? Sit down with a piece of paper and pen and make a list of everything you already have that is priceless – and doesn’t require spending money to enjoy. Ex: a husband, kids, mom, dad , grandparents, faith, eyesight, hearing, the library,- as many things as you can. Then, you will realize that whatever expeditures you have to cut, you already have all the important stuff. It will start you off at a place of feeling deeply wealthy.
Avoid credit cards at all costs, pay cash for everything and menu plan, menu plan, menu plan!
I think cooking at home is one of the easiest ways to save money. When I was first married, we ate out all the time. We are kicking ourselves now for all the money we spent.
Pay off ALL credit cards by using the debt snowball method!
Just try and be happy with the things you already have, live within your means.
Hi,
What a sweet thing to do in having a give a way.
My best tip would be to live BELOW your means. So many people say to live withing your means, and this isn’t enought.
Blessings,
Cathy
My best advice is take things like cleaning supplies and find ways to make them yourself. For example I make my own laundry detergent and dishwasher detergent so I can save money buy not buying these things. I also take things my family like (for example McGriddles and Toaster Strudel) and make them myself for a cheaper and healthier version.
I have a few pieces of advice.
One: Don’t spend what you don’t have. If it’s not in your checking account (and not already accounted for, ie. for bills) then don’t buy it. If you have to use a credit card or purchase less gas for your car just so you can have that item then don’t do it.
Two: When paying off debt, start with the smallest balance and focus on paying it off first (keep paying on the other bills too). When you pay off that first card/debt it gives you motivation to keep on going and helps you to feel like you really can work your way to be debt free.
If it’s not a necessity and you can’t easily afford it, don’t buy it.
Don’t spend what you don’t have–definitely pay off the credit card in full every single month. We love our credit cards for the free air miles they give us (looks like all 6 of us will be flying free to London this spring!!), but are very, very careful about not letting debt build up and interest accrue.
Stay home! It is so much easier to not spend on non-necessities if you don’t constantly expose yourself to them.
I think that the best first step is to “stand in your truth”, as Suze Orman says. Record all of your debt and expenses, all of your income and really see where you stand. Then you can plan your attack!
I know people have already said it, but track what you spend and make sure it is less than you earn. Learn to wait and save for things you want. This lesson seems to have been lost in recent generations.
Be happy with what you have, you can’t own everything in the world. So contentment first would be my tip.
Use cash… harder to part with your money that way! Makes you really think about your purchases!
I think my best advice is to think through everything that you do. When you think through every action/purchase/etc. and then think of an alternative that is more frugal (ex. Eating oatmeal at breakfast instead of that sugar laden and EXPENSIVE boxed cereal) you would be surprised at how much money can be saved!
Sounds like a great book. I struggle to set and keep to a monthly budget and am easily led astray by my partner.
I would say to really analyze what you need in life, not what you want…and live simple even if you don’t have to…simplicity is best….
My best tip would be to keep a money diary, just like you would keep a food diary when you are on a diet. This helps track every single penny you are spending and shows you where you can trim your expenses to put more money into savings or paying off debt.
Baby steps are so important when starting out. I remember watching an interview with Amy Dacyczyn where she encouraged everyone to start out by writing down EVERYTHING on which money was spent, and eventually you’ll spend less just because you won’t want to write it down! The expression “Use it up, wear it out, make it do, or do without” is easy to love yet hard to bring to fruition! Start with “use it up,” and build from there.
Know that you are going to fail…no one does it perfectly the first time. Know this will happen going into it, accept it as part of the process. When you do mess up, just regroup and start again. This is a process…not a project.
See where you waste easy things, like gas — do you always run out to buy 1 or 2 things rather than grouping your errands? Do you line dry your clothes rather than using the dryer? Do you turn the thermostat down?
Knowledge is power when it comes to your finances. Many people get overwhelmed trying to understand finances so they put it off and ignore making a plan. Simply facing it and understanding were your money goes is all you need to get on the right track.
My best advice is to stop window-shopping. My husband and I did Michelle Singletary’s financial fast last year and you aren’t allowed to look through sale papers or catalogs or anything. It was really hard at first, but ended up increasing our contentment because we weren’t as aware of all the things that you can want.
Anytime I go to the store, or any store for that matter I try to always ask myself, “Is this a need, or a want?” It really makes me stop to think and I end up putting a lot of things away and coming out of the store proud; because I know am being responsible and saving at the same time!
Allow yourself some small luxuries to make sure that you don’t feel as if the budget friendly life has kept you from enjoying things. I don’t mean anything big- even a small, scented bar of soap or a little tube of hand cream are small delights that keep my spirits up.
Make your budget realistic
I think mint.com is a great tool. I’ve been using it for about a year now, and I really think it’s helped me stay on track with my budget. Best of all, it’s free!
I’m looking for all the advice I can get to make my 2012 better than my 2011
Thanks for such a great giveaway. I’ve been a fan of Crystal’s blog for quite some time. Love yours too!
The best advice I can give to someone just starting off with frugality is to take one thing at a time. I would bomb at trying to be frugal years ago, because I would try to tackle to much at once. Also keep an open mind what someone else does might not be something you are willing to to and vice versa.
My best tip is to be organized about your bills – for me it is easy to forget unless I give myself reminders to pay things on time – to do so I give myself alerts on my cell phone or email calendar. Would love to read this book! Thanks!
Something to think about for taking that first step in a better financial lifestyle: If living frugally and budget consciously didn’t come naturally before, don’t expect it to overnight now — but just making one small change will feel like a major accomplishment and that success and pride will be the catalyst for the next change, and the next one and so forth… It will take time, so take pride in the small victories.
**I’m at the beginning of the process myself, and would love to win this book — I was just previewing it on Amazon yesterday!! (But my new frugal mind thought “Wait for the library to stock it.”)
1. Don’t look at what other people around you have.
2. Don’t spend your entire paycheck. Try to find ways to save as much of it as possible. Set goals of how much you can save (not how much you can spent). My husband and I save almost my entire paycheck because some day I want to be a stay at home mom and we know we need to learn how to live on just his paycheck.
Gosh, advice I’d give is to ask questions. To your family. Your friends. Anyone who is open with talking to you about how they do things. Also read a lot (many people have it out there already online!). And then once you get a lot of different ideas from other folks, see what works best for you and implement pieces here and there!
I totally did this recently and so far it’s working for me
Thanks Kristen!
My best advice, which others have said, is to track your expenses. But not only writing them down, you need to categorize and see where the money is going. Finally, setting a goal for savings (or paying down debt if you have that), and work to ENSURE that it happens EVERY month, no exceptions.
If you have a employer sponsored retirement plan, participate in it; especially if they match your savings.
Have money pulled out of each paycheck automatically into an online higher interest account. You won’t believe how quickly the amounts add and if it is automatic, you won’t forget to do it.
spend less than you earn, pay bills on time and in full, and focus on relationships more than things.
My advice regarding finances…. beware of the tempting credit cards. So easy to hand that plastic over, harder to play catch up on a bill that’s growing and growing. Thanks for the opportunity to win this book.
My advice to a newbie would be to only spend what you have, and if that means going to a cash only system, than do it!
Pay yourself first!
My tip would be to know who you are and what you value. If you truly value financial responsibility, then you will find a way to make it happen. If you truly value simplicity, then what you buy or don’t buy will surely reflect that value. For my own situation, I find it much easier to make a choice in the moment by asking myself, “is this in line with my values and intentions for myself and my family right now?” For most people, financial issues are not about just being able to do the math; they are multi-faceted and require an individual to look hard at their personal history and experience. Taking the journey to the core of who you are is so worth it! It has changed my outlook for the better after several years of financial drifting. I have a long way still to go, but at least now I know what direction I am going in!
I have lots of thoughts on this subject, but probably my best piece of advice is to limit the amount of contact you have with advertising, i.e., turn off the TV, be selective about what magazines you buy and subscribe to, shop online and in stores intentionally and when there is a true need and cancel the Sunday paper, complete with an inch of ads every week. We’ve done these things and it has SIGNIFICANTLY reduced the temptation to have more, do more, be more. It’s a bonus that our kids can’t beg for stuff they don’t even know exists!!! Hope that helps:)
I think my best tip would be to use cash!
I’m new to responsible financial management, but I would refer another newbie to your web site. Oh and I have been suggesting Aldi.
Supportive and frequent communication between spouses regarding bills, budgets and goals!
I also agree that tracking every expense is crucial! We use Quicken to track every expense in our checking account, and it is linked to our budget. I can look at a budget report to see where we are at in our spending for the month. We also use cash whenever possible. My husband and I took Dave Ramsey’s Financial Peace class when we were engaged, and I am so thankful that we were able start out on the same page!
Monthly savings towards non-monthly expenses!
My best tip would be: have a plan for those times when you feel discouraged/tired/sick/bored. Whether it’s a plan for a meal for your family when you’re ill, or a plan for a trip to the library when you’re bored, or a plan for (say) how to exercise when unmotivated, in the end, having and keeping to a plan of some sort is invaluable. (Just don’t be too rigid, in the end, about your plan. Leave some wiggle room for Life’s Little Adjustments.)
The first thing my husband and I did when we were trying to get our finances in order, was pay cash for as much as possible. We used an envelope method. When the cash run out, thats it! So say we have $40 put back for eating out this month, when it’s gone, no more eating out! That way were not tempted to swipe the cards (which we no longer have credit cards anymore, yay!).
My best tip – use cash envelopes. It’s easier to not overspend when you physically see the dollars you have left and they aren’t out there in debit card land.
My tip is to look around the house and see what can be reused/is already in our home before going out and buying more.
Live below your means, save save save
Not using credit cards was a huge turning point for us. We are definitely more conscious of what we’re spending money on, now that it’s “actual” money that we’re spending!
Saving money using coupons is best started in small steps. Even when one is experienced the process can be overwhelming.
Track your spending for a month to see where your extra money is going. Every cup of coffee, treat for the kids, lunch on the run, everything! This will help you see the little things that are keeping you from you goals. After you have done this for a month or so begin to implement no spend days or weeks.
The most important thing about budgeting is to spend less than you make. Recognize that the first budget you create probably won’t be perfect (my husband and I have adjusted ours 4ish times in less than a year), and that’s okay as long as you recognize the imperfections and work to fix them. But always spend less than you make.
The best thing I did was write down every dollar I spent and what I spent it on. It makes you realize where your money is going and what you are actually wasting it on.
Thanks for the giveaway!
The biggest thing for me is that we don’t use credit cards!!
It’s hard to choose one tip, but I think the best thing for me was to distinguish between needs and wants. I was able to drastically reduce my spending when I stopped spending money on unnecessary wants and learned to see the blessings I already have.
Tip: never eat out over $20.
My challenge is feeding 7 kids healthy with lots of choices on a budget. I would love to know her secret!
One of the best tips that has worked for me was to write down how much we were spending on ‘extras’ like eating out here and there–drinks at Starbucks etc. They are small amounts on their own but add up to a lot over a month. We set a budget for those things and applied the ‘found’ money elsewhere in our budget.
I would say save for your kids future. SAVE!
Make a budget! It is so simple but by far the best thing you can do.
My best advice would be to start by knowing what money you have coming in and where your money is going so that you can know where to cut back. It is impossible to create a budget without knowing what you have to budget.
The only advice I have since we’re new to financial management is to stay out of debt! Don’t buy it if you don’t have the cash.
My biggest problem was discerning wants from needs. Whenever I had extra money I thought it should go towards my needs which were in reality only wants. I was unable to save money or pay down debt because of this problem. Now, I love saving money and waiting to buy something that is not really a need.
For our family the best way for us to keep on track is to eat at home. We have food allergies in our family so that makes the decision to eat at home much easier. It is amazing how much money we save by planning menu’s, using coupons, and eating healthy organic meals at home.
Write down every single penny that you spend for a month. It’s like a food journal, until you fess up and figure out where your money has actually been going and what your true money weaknesses are, it is really had to change your ways!!!
I think the tip that I would have benefited from the most when I was starting out a life of my own would be to have *real* goals. When I got married I had this idea that I would get married, we’d do his time in the military then we would buy our own house… I had an idea, not a real goal. A simple goal of “I will save $100 a month towards a down payment on a house” would have served me much better than the idea that I wanted to buy a house in the future. Second to that would be to have a written budget. If its written down, its easier to follow
The best thing is to stay home if you can’t group your errands and if you do have to go shopping, only bring enough money to cover what you need to buy…..leave the plastic at home!
I like Ramit Sethi’s advice, “spend lavishly on the things you love while cutting back extravagantly on things you don’t really care about.”
Figure out if your if you work better keeping track of your expenses to the penny with many specific categories or if working with broad categories and percentages. Most of the advice I read had been focused on very specific categories and that never worked for me. But then I read an approach that focused on a few broad categories and I had much more success budgeting that way.
I don’t have many great tips which is why i want the book.. i mean i can budget but not like i would like too but my tip would be to always ask yourself do i want this or do i need this? not that there is anything wrong with wanting but it’s a matter of is it necessary right now.
My best tip is budget, budget, budget. Never have more money going out than you have coming in and always save for a rainy day!!
Start paying cash for as much as you can. When I do this I see the money physically going away and can see how much I have left. It helps me. Also stop going out to eat. I love to go out to eat. But with four kids and on one income it is just not something we can do very often. We still were going out to eat quite a bit though and one time we went out to eat and afterward my husband said something that totally changed my outlook. He said we just spent $60 on a meal and have nothing to show for it. So now going out to eat is a treat and done sparingly and I have no problems with this approach.
Write down every dollar you spend.
Shop consignment stores and second hand shops for treasures!
For beginners (and as others have said), only spend what you have. That is how we got into debt in the first place, by using credit cards for things that we maybe needed but didn’t have to have a that very moment. It is much easier not to go down that road in the first place.
My best tip would be if you can’t afford it right then, you probably don’t need to buy it. I saved for two years to buy a new couch (when I was single and right out of college). But I really appreciate the couch and the hardwork it took to get it.
Stay home more…on purpose. It is hard to be out and about without spending money so if you can stay home other than necessities you can save a lot of money and get yourself back on firmer financial ground.
1) Know how much money you have coming in, and spend less than that. 2)Work to pay off debts quickly, 3) pay with cash.
My tip to someone just starting out is to start focusing on being content on what you already have. In your closet (and kid’s closet), in your pantry, in your home.
Break it down and tackle one challenge at a time. Make a plan and then stick to it! Don’t discouraged if you mess up- just get back up and keep going.
My #1 tip is to go cash-only. At the very least you will stop adding to your debt, you will live within your means, and metaphorically “stick your finger in the dam”. I don’t think you can live frugally if you give yourself permission to pull out a credit card whenever you want something
I know this seems so common sense, but do NOT buy it unless you have the cash for it. (this obviously excludes things like homes/cars and other major purchases or emergencies like that tire that you had to replace because yours blew on the interstate.) But seriously, if you don’t need it (as in you will truly die without it) do NOT buy it if you don’t have the cash to cover it.
One of my favorite tips about money is to never hold it too tightly, to always be willing to give it away to someone who needs it more than I do. Keeping an open hand allows it to always come back to me. The more I give of myself, and of my blessings, the more I’m blessed. It’s a wonderful cycle!
Start a periodic bills fund and put 1/6 of your car insurance and all other big infrequent bills in it. I added my carpet cleaner last year. Basically it makes every month the same.
My best tip would be spend less than you make, make as much as you can yourself, and never forget the power of prayer.
Hi,
I have been reading your blog for a long time….maybe even more than a year! BUt this is my first comment….not sure why it took me so long
My best frugal tip is to eat at home and bring lunch to work. saves so much, you can get enough food for a whole work week for what you could get eating out once.
Keep a change jar- I often find change on the floor that falls out of my husband’s pants or better yet in thte washer so I just pick it up & put it in our little piggy bank, then after a few months I roll the change & trade in for paper money or deposit it in the bank account.
Learn to cook. Once I started preparing meals at home and packing the leftovers for lunch the next day I was amazed at how much money I had left each month.
Pray about it, is it a need or want? Then pay with cash! Keep track by writing it down.
Using cash for purchases truly cuts down on what you spend. And making a budget is very enlightening… once I did that I realized what I was spending at Wal-Mart alone!!
I think is comes down to a few things… accountability/tracking, goals, contentment and planning. Now if I could just consistently take my own advice!
One simple piece of advice I give to any of my friends who are embarking on “frugality” is this: stay home as much as you can. A lot of people get bored or antsy at home and so they go out – to the mall, the bookstore, the coffee shop. I used to be one of those people. If you learn to be comfortable at home, though, you save a lot of money and enjoy the things that you have already purchased. marthalynn16 (at) gmail (dot) com
Watch carefully what you spend and try to track it. Once you realize how much you are actually spending in one place it can be surprising
Each week put money in your savings account. Even $1, $5, or $10 per week adds up. If you begin as a child, then you have the ability to buy your first car (with no loan) or help pay for college. Also, it is never too late to start!
I would recommend you surround yourself with frugal minded people or find websites like this one
to encourage you! Remember: frugal is not the same as cheap! You then might be able to free up $ to pay off your bills, sponsor a child, and/or be a financial blessing to someone in need.
My best starter advice is, if your a coffee drinker like myself, save that $5 latte and make your own from home each day instead. You’ll be saving about $100 bucks a month, baby steps.
I think it’s important to have goals, and give each dollar a name!
My best advice to anyone is always pay extra on things like your house or car (if you have payments to make). And save money, even if small amounts – save, save, save!
With a young baby at home, I thought we cut all we could out of our budget, with one less income, but what has saved us even more money is planning a menu on a weekly basis and making ONE trip to my local Aldi and buying off that list only. That has cut our food budget even more than I had imagined.
If I could only give one beginner financial tip, it would be to set an ironclad “fun” budget (and set it pretty low) and then MAKE DUE. No cheating, no going over. Just take out that $25 or $50 cash a month out of the bank (or whatever your total is) and make it work. This way your life isn’t all about bills, you have some play money, but until you’re out of debt you’re focused.
Live below your means. Don’t use shopping as recreation. Don’t let other friends, familie, media etc dictate what you “have” to have.
My best advice is to live simply. Know what you NEED versus what you WANT. I find that when I live simply and concentrate on the things that matter (my sons, our health), life is more wonderful.
Contentment with what you have is a great policy and starting point.
write down a monthly budget… it all looks real on paper
Do a written budget (cash only) each month and stick to it. Know where each dollar goes. Also, save, save save! Every little bit counts!
only use cash, it’s to easy to overspend when you pay with credit cards, save the cards for emergency.
My best tip is to be honest with yourself! Track everything, even if you come across unexpected money. Even after a few weeks, you will start to see where you really spend, and can start with that category!
Plan.Plan, and plan some more
What really helped my husband and I when we were getting a handle on our finances was the envelope system. After creating your budget, you simply tuck you grocery money, etc into its own envelope and pay using just that money. It really keeps you buying only what you need and you’re less tempted to indulge on unncessary items.
I cash a check at the beginning of the month to cover our routine needs for the month–groceries, gas, entertainment, allowances, household expenses, etc. I divide it out into envelopes, with a certain amount allowed for each week. When the cash is gone, my spending is over (or I have to borrow from another category that still has cash left, but I try to be careful about that).
Eating meals at home is huge for staying within your budget. Keeping a well stocked pantry, and buying things when on sale help you save money on groceries. Having a well stocked pantry means fewer trips to the grocery store and that will help you save because you aren’t enticed to buy things you don’t need.
The starting place is knowing where your money is going, so track first. IE you can’t cut your budget, until you know what your budget, where your money is going, is.
When you want some new shirt or kitchen gadget, instead of going to a big box store or the mall go scour GOODWILL for an hour or so. The time it may take you to find the perfect thing will make you feel like it was an experience and when you really score you are getting a bargain too!
For me the first step is to know my goals.
Being frugal is contagious! Start small and soon it will be your instinct.
My best advice would be to not get into credit card debt. The late fees and financing fees are INCREDIBLE.
My best advice for someone new to responsible financial management (like me!) is to be content with what you have and not to live beyond your means by taking care of bills and necessities first before buying frivolous/fun items that are wants not needs!
My first tip would be to cut out alcohol entirely. It’s so expensive and not worth it! I’d love to read other tips in this book
As someone who is very new to responsible financial management, my best tip would be to not take on any debt, ever.
Impulse spending is the #1 thing to stop doing if you are serious about controlling your finances. Those little purchases add up, and most of the time you forget you even bought them!
I think something important to remember is to budget some fun money. Even if it is only $5, you need some splurge money on something that isn’t a strict need or you’ll get burned out.
My tip would be to never buy under pressure, if the deal is going to end when you walk away it probably wasn’t that good of a deal anyways.
My best tip to a beginner is to write down everything you spend, like a money diary and you would be shocked at how much it adds up! Then, start your budget.
My first suggestion is to tackle one area of financial magement at a time. For example, decreasing costs on food is a great place to start since there is often lots of wiggle room. Setting (and more importantly sticking to a limit) is a great start to any rebalanced budget.
I would say the most important thing to do would be to create a monthly budget. Details are important. Include monthly bills, groceries, gas, clothing, entertainment, etc. Challenge yourself to stick to it for one whole month and then do some tweaking if needed.
My best financial tip is to consider how to buy what you want for you and your family secondhand. There are so many fantastic thrift and secondhand stores where you can buy almost new clothing, furniture, toys and household items for 1/10th the retail price. That alone has changed our financial picture and has not impacted the satisfaction with our lives one bit. Commit to buying at least half your items this year secondhand, and see what a difference it can make to your wallet, the environment and your sense of frugality.
Don’t buy something unless you have the CASH to pay for it!
Be content with what you have, pay your bills first/on time before buying “fun” stuff. I would love to read this book!
Pray; be completely comitted to being debt free; budget your income and pay with cash.
I believe that we need to realize that our flesh is never satisfied-there is never ‘enough’. This is one of the first steps in learning to live within our means. The Bible says, “Godliness with contentment is great gain”. Until we learn the peace and freedom of contentment, we won’t accept the changes that are necessary to bring about the results we desire-breaking the bonds of financial slavery and having true ‘treasure’ in heaven.
Keep reasonable goals, keep track of what you spend, think about your needs instead of your wants.
my advice would be to track spending and create a budget!
Stop buying things you don’t NEED. Fill your home with love and laughter and you will find happiness. Thanks for this wonderful giveaway thefrugalgirl!
Sounds like a great book!
Learn delayed gratification! We don’t have to have everything NOW! I have actually learned I am much happier with much less! I am not as stressed and I am more organized simply because there is less to have to deal with! Thanks for the giveaway!
First, Learn to tell the differance between needs & wants.
Live lean in all aspects of your life…
just starting out myself as we transition to a one income household..i think the best tip is not to get discouraged, its hard especially at the start if you never have followed a budget and you will want to wonder off track, but keep the prize in the eye.
My one suggestion is to set up a budget and track your spending. You can’t save money if you don’t know where it’s going!
To start saving money you need to start with 2 things:
1. a budget… budget everything to the penny.
2. A menu plan.
I was amazed how much money I saved when I started menu planning. Its the first thing I tell my friends to do after creating a budget.
I think the first step is to track your expenses, every single penny, for at least a month. When you know where your money is actually going, you can create a realistic budget and see where there is room to trim expenses
Best advice that I could give is pay yourself first. Before any, and I mean any, bill gets paid, you need to put 10% aside to pay yourself. This money is not to be touched for any reason. Soon you will have a healthy start.
Save your change in a coin jar. You’ll be surprised at how much you can accumulate in a short period of time. Use the money for an extra debt payment, to put in an emergency fund, or for a special purchase.
My best advice to is use cash for key budgets like groceries and eating out.
I was just talking to a family member trying to help her. Her biggest problem is eating out every single meal. I was trying to convince her to stop.
My best starter advice is, if your a coffee drinker like myself, save that $5 latte and make your own from home each day instead. You’ll be saving about $100 bucks a month, baby steps. ( not sure how my 1st one posted as a reply, but here’s real comment)
I think one of the things that has to come first is the COMMUNICATION a couple has to have before anything begins! I’ve tried to tackle goal planning and financial planning on my own, but without the commitment on both sides, it just doesn’t work. It’s important to know what you’re working towards TOGETHER whether it is getting out of debt, paying off bigger purchases or planning for the future (travel, tuition for children, RRSPs). If both people are on their separate “roads” it may not be likely you’ll end up in the same place at the end of the journey!
Live on less than you make!
We’re just starting out and I certainly could use this book to get us started.
What I have learned so far is…….
Plan meals. Having a plan prevents blind grocery shopping which reduces the money spent on food.
Make a serious commitment to only purchase if you have the cash to pay for it. When there’s only $20 left til the next paycheck you twice about impulse wants.
Learn the true difference between a need and a want.
Number One for me is save some part of what you make. It doesn’t matter how much you make, everybody can save a little. It is a discipline that you must learn. There will always be something to spend money on no matter how many things you own or how much you make, so go ahead and discipline yourself not to give in to all those “buy me” impulses.
Find friends who are also interested in saving money and living frugally. Kind of a keeping up with the Jones in reverse but in a good way. Sharing tips, ideas, coupons, borrowing big ticket items, books, games. And most of all: encouraging each otehr.
I have to agree that prayer is my first advice. Is it truly a need? Wait, see if you absolutely need it. Pray some more and try to find it at a better price – used or free. If after all of that you still need it, pray some more!
And then buy it knowing that you need it and you are getting it for the bast price possible. This process could last a day, weeks or months depending on what “it” is that you think you need.
My very best tip, be content with what you have already been blessed with. Simple as that.
Make a list and stick to it. Do buy anything that is not on your list.
My best tip is never automatically reject an idea for savings, even if it sounds too big, too small, too hard or too crazy. Be open minded!
Meal planning, and doing 1big shopping trip to the grocery srore saves a lot of money in the grocery budget.
Just take a day each week to plan for expected expenses. For instance, we all need to eat, so just make a plan for lunches, dinners, etc. If you have a plan, you are less likely to ‘waste’ money on eating out.
My best tip would be to read blogs and books on financial management, frugality, and any other closely related subjects (like time management or organization). I think this would be a great book for my mom to read. She’s recently divorced after 18 years of marriage and as a result, has a huge amount of debt. I think it will be a hard transition from managing only part of the family finances to managing all of them. This book sounds great for anyone in her type of situation. I’d also like to read it–it sounds like the book has valuable information for anyone!
I’m finally learning to thrift first, then shop sales. I’d also say that quality over quantity is an important principle – it leads to less clutter and is more frugal in the long run.
Track every penny. Like so many have said, only then you’ll get a (sometimes shocking) picture of where your money goes.
Also, this might sound weird, but if you’re able, find a cause you believe in and try to make a point to give a little of what you have to people who are in need. I know we all get kind of crazy about saving saving saving and of course get rid of debt first, but giving just a bit sacrificially to others has really made my husband and I think about what we are spending (is that a want or a need) and also watching our budget more because we are being forced to be more purposeful with where we are spending our money. Someone once said to me, if you want to know who someone is really is and what they care about, find out where they spend their time AND money!
Shopping at thrift stores has saved me a bundle! It’s easy to do and helps you find the things you need at a fraction of the cost.
Thanks for the chance to win a copy of this book!
Pick a goal (pay off loan, save ‘x’ amount, etc) and track spending/saving/progress toward that goal!
I think the best advice is, as Dave Ramsey says, have a plan on paper. Know how much you make so you don’t overspend. And get rid of credit cards!
My best advice would be to know where your money is going. Keep track of every penny and then you can work on a successful budget.
My best advice would be to learn to make one simple item that you would usually buy, like salad dressing. Thanks for the opportunity to win!
Track all spending.
I think the best tip is to list the goals that you would like to accomplish with your money. Start small…maybe it is to put 2o dollars extra down on some debt. Then look at your goal often and make it work by cutting back on something or finding a little extra job to make it happen! Thanks for the chance to win!
The best thing that my husband and I started doing was… We have an envelope for every expense. He gets paid once a week so we divide the cost of that expense per month by 4. When it’s time to pay that bill the money is there. I just deposit the money into the bank and pay the bill!!! I love this method. It’s so stress free.
Go to a financial peace university class. You can find them ondaveramsey.com website. Priceless.
Ditch the credit cards and make a budget.
Spend less than you earn – ALWAYS! It’s not a deal if you’re going into debt to buy it even if it’s just a little debt!
Think carefully about your priorities and how your money habits align with them. Are you using your money to support your beliefs and goals or just responding to society’s presuures and endless advertising?
And then, write down everything you spend. It’s amazing what you can “forget” about when it isn’t in black and white!
We got into a lot of debt trying to keep our business afloat. When we started digging our way out of it we got a lot of support from friends and family. Because we have a large family and only one income this is taking quite a while! We have been at it a few years and it will take a few more to be done. No one really told me I would have to BE PATIENT. There is no quick fix for us. Even when those around you have tired of the situation, you have to continue to keep working at it.
I love MSM for the same reason. I’m not a huge couponer, but she does provide a lot of meaty content and tons of inspiration!
I believe that learning to live below your means is probably the biggest tool in financial management. Which is only possible by changing your attitude towards ‘stuff’ and being content with what you do have, instead of constantly trying to keep up with the Joneses.
My best advice is to get on the same page ( financially) with your spouse right away. Have budget meetings often and make sure you both know where the money is going and how much is available.
My husband learned this tip from his parents. We drove beater cars for a while (that we owned out-right) and every month we put money into a savings account (auto transfer from checking to ING, which is an external acct that we couldn’t access as easily!) that was about the amount of a car payment (between $200-400 a month). So when it came time to buy our cars we either paid cash or gave a very large down payment, which made our payments lower. It’s such a relief to not have a big car payment or one at all! And I will say that we are a Mazda family so we buy more economical vehicles anyway.
I would recommend baby steps…You won’t achieve everything in a day, a week, or even a year; nor would it be very enjoyable either. Take small steps where you can, when you can and then progressively get better and better. If you aren’t already in the mires of financial disaster then avoid it by doing what you can to live within your means. We don’t all have to have everything cool all the time and every time. Skimping here and there, even if you feel a little “uncool” about not having the latest gadgets or cable membership or cell phone or fancy coffee, can go a long way in the end.
It’s not about what you make. It’s what you do with what you make that counts.
MAKE A BUDGET! Just do it. Get started. Allow yourself 3-6 months to tweak it, but then STICK TO IT.
We’re still working on this.
For me one of the best pieces of financial advice I ever received was have only one credit card and make sure it has a low limit.(when i went to college from my mom) That way I have never gotten in over my head with credit card debt that is now killing those around me.
use coupons
1) Figure out what you want to achieve in life. 2) Create SMART goals (and a plan to achieve them), write them down and share with as many people as you feel comfortable .
Stop spending more than you make is the first step to responsible financial management. When I learned that many many years ago, my life changed.
The best way to save money is to coupon and follow these money-saving blog sites!
Lots of good advice out there, but one thing that has always worked for keeping my food bills in check is to go shopping once a week with a list/menu plan and stick to it.
When I got married, my husband had a lot of student loan debt, a middling credit score, and didn’t always stay on top of bills. He wanted to, but occasionally slipped up. I showed him two things that really help me stay on top of my financial life: (1) I make unpaid bills *visual*. If I have a physical bill, it goes in a certain spot on my desk where I will constantly see it – it can only move after it’s paid. If I have an e-mail reminder for an electronic bill, it stays at the top of my inbox until it’s paid. (2) I make lots of lists and as soon as I think of something I need to do, I write it down. He thought I was just smarter about these things, but I’m not. I know that I’m not “smart” enough to just remember things, so I either do it immediately or write a note so I won’t forget!
I am really far from giving out any financial advice, for I am still in the midst of learning, but a few things that I’ve learned along the way and am sticking to, is not to get into to many blogs or websites about budgeting and compairing yourself to what others are doing, that will drive you crazy and lead to discouragment. I found a couple of blogs that inspire me along my journey (whom are in or have been in my similar situation) of debt-free/contentment lifestyle and Im happy with that. My role in the home is cutting our grocery bill and saving on electricity/water, because Im the one home all day, and my husband works. So I have found that not buying boxed granola bars, cereals, extra juice (for us it’s only o.j, because I bake with it as well) making my own bread (but not always) and just learning not to eat so much. Also, less trips to fast food, that will save you in the end. It’s mostly looking at what you have done alot of and learning to cut back and make it yourself, also go with out. Oh and try shopping at Aldi, I find such thrill coming home and knowing I got so much food for way less. Obviously Im a mom, I could just ramble on! Biggest thing I found though, is when you get discouraged and or depressed, make yourself till it becomes a habit; start saying what you do have and what you’re thankful for. Someone else always has it worse. God is our supplier and source of strength, not things.
Track… plan…. pray no judgement! My husband and I are very new on our journey to fiscal responsibility
I have been amazed at how much tracking our expenses reveals, and also how many large purchases we have throughout the year that we need to save up for (birthdays, Christmas, snowsuits/coats, car repair, homeowners association fees, etc.) I found I need to put $500 away a month to cover my “occasional” large expenses!
For someone brand new to a budget, I would say the one piece of advice I would offer is use cash only (envelope system). You can’t spend what you don’t have and are forced to use what you have only.
My best idea, pay your bills first, live off the rest. That way, you are less likely to get a. collection calls and b. things turned off.
Also, keep making payments, even if you can’t pay the whole amount. Loans are more likely to work with you; overpaying bills will build up a credit that will help cushion you in case of money emergencies.
Those are the things I have been doing these past few months since we paid off our auto loan to save up money to pay off the rest of our debts.
We use the You Need a Budget software – it has really helped keep us on track.
Would love to win this book!
Wow! I’d love to win this!
Don’t buy what you don’t need. If it is something you truly need, check for the best price online, in ads, etc.
Work for a good credit score, it can make such a difference when you want to make a large purchase like a car. We buy our cars with zero interest even though we have the money in the bank to pay cash. Why lose the interest you are making on your savings. As we are in our early sixties it is a wonderful feeling having a paid for house, retirement planned just because we didn’t worry about keeping up with the Jones.
My advice to someone starting out…((& the rest of us wherever we are on
the responsible financial journey)
seek wisdom…for us that means prayer
be teachable…read the blogs, books, websites, Dave Ramsey & other
experts
know your goals and record them…
Vow to not have credit cards
start small…be encouraged by reaching your daily, weekly, etc. goals
give…for us that means to our church and other organizations
Buy everything with cash for a little while. It really helps you realize how much you are spending.
Spend less than you make!
Write a budget and stick to it
Spend less than what you make. Also, stop trying to keep up to the Jones’, you will never be happy with what you have and will just want more.
Keep your eyes open and pay attention!
Try to live cash only. Paying for cash makes you think twice before spending.
My best tip is before you spend money on anything, remember that God is the reason why you have the money in the first place and that the money is NOT yours, you are just a keeper of it (steward). Would God approve of your purchase?
Learn to budget and set goals. Live simply and be content. That works for me!
Track your spending for a week or a month, it will make you more aware of the leaks. I found I went and got take out food and coffee a lot more than I realized!
For someone who’s truly NEW to responsible financial management after a loss of a job, etc, my best tip is not to panic. Research information (like this book) to help you cut down your budget, and face the facts.
Financial Tip – sit down and review your budget/expenditures every month
I think, like you mentioned, being content with what you have is the best thing you can do….but this can sometimes be so hard.
cash only, no credit cards, pay attention all the time…
When you fall off the wagon just get right back on
I recommend cutting out cable and getting Hulu! Saves lots of money per month!
The best way to see how much money you’re wasting is to keep every single receipt and add them all up monthly. It is the first eye-opener to see where you can cut back.
My biggest tip would be to take a Dave Ramsey Financal Peace University Course!! It will change your life.
I think my best advice to someone who is new to managing their finances would be to track their spending.
Even though you do not think you spend that much after a while of tracking your spending you start to realize that every single little purchase does add up and it definitely makes you think twice about whether or not you really need something.
Evaluate needs vs. wants
My best advice is to sit down and write out how much you make, then divide up your bills and fun activities into categories. Put a spending amount on each category, then each time you go out and do something write it down in that category. Do not overspend in the fun categories, which is really easy to do. My hubby and I did this when we were first married, and it was a lifesaver!
Ignore the whims of popular culture. You will feel free and spend less money.
My best tip is if you feel you must have a credit card for
ONLY get one. Don’t fall into the trap of signing up for every credit
card offer that comes in the mail. As soon as I turned 18 I got every kind
of offer you can imagine and I signed up for many of them. Before I knew it,
I owed way too money and could barely pay my minimum payments. Took a few years to pay off about $1,000 of debt with the interest payments.
My tip: Budgeting and tracking spending are essential.
Know where your money goes. We don’t only have a budget, but a spreadsheet that we enter all our receipts into so we can keep track of exactly what we spent in each category of our budget.
Pay attention to what’s on sale! Don’t ever pay full price…
Have a budget and keep track of what you’re spending on everything, both big and little things.
My best tip is teamwork…everyone in the family should be invovled in the money saving process.
Sit down and figure out where your money goes and where it needs to go monthly.
Start by eating out at least one time less a week and the put that money you would have spent into savings.
My tips would be to always spend less than you earn. Also, try to start an emergency fund, even if you can only put $20 per month away, eventually you may need it!
My best tip would be don’t give up. If you mess up along the way, just pick yourself up right where you are and keep going, you can do it!
cook at home, from scratch as much as possible.
I always plan my purchases…whether it’s something I need or want, I do my research to find out where I can get the best deal. This helps me to avoid impulse purchases.
My tip: write down everything you buy for a week or month. It’s SO easy to tweak a budget to make the numbers fit, but it’s quite another thing to actually see where your money’s going.
Find a “co-cost” hobby. If you love to sew, learn how to make scrap quilts. If you love to read, head to the library or join a book club. If you love movies, organize a DVD swap with friends. Avoid collecting anything. Just think of the money spent on “beanie babies”! Not only will you spend no money on the latest fad, but your friends and family may give you meaningful gifts rather than one more piece of clutter.
Not sure I can add any more to all the good advice here! I especially like buying used. Craigslist is your friend!
Do the best you can…and don’t take everything so seriously. That’s saved me, over and over.
Just reading all the comments have provided me we great advice! At 45 I had to start all over again, having been unemployed for 1.5 years left me with 0 (zero) savings (had to use my retirement savings to survive). I separated and was left with only debt and no house. I know it’s going to take a while, but every day provides an opportunity to get in a better shape. My current priority is SAVING and with that being my one tip comes a little more…
S ave money for larger items instead of using a credit card
A llocate your budget according to your income (there’s a formula for it)
V est in your future, explore different options for retirement saving
E quate your spending: balance what comes in with what goes out
Thanks for this post and all the comments!
Monique
Buy a spiral note book, or a journal. Write down the month and your expenses. Divide by your pay days on the left side, and list bills and expenses for that pay period (by the due dates of your bills). Make 3 columns along the right side Use one for budget, one for amount due and one for amount paid. Write it all down every payday. Helps track when and where your money goes. You can see at a glance if there is any extra for something or not.
Thank you for including non-US residents in the giveaway. The book sounds great.
I haven’t (yet) read all 238 comments(!) but my top tips would be learn to be happy with what you have/can afford. Don’t read/watch anything that makes you wish you could just buy X or Y. And remember that even the little things add up. It might only be a pound (or dollar) that you’re spending or saving, but it all makes a difference!
Thanks.
Start small. Tackle one money-saving strategy at a time. Otherwise, it can be overwhelming.
The biggest thing that has helped me stay in a budget is to stop making impulse buys – even (especially!) the little things.
My husband and I give ourselves an allowance each week. Mine includes the food money, his includes gas for the cars. If I want to spend a little money for something I want, I just take a little each week from my on hand cash and set it aside until I have enough. He does the same. Once the money runs out…it’s done. This week, I had some unexpected expenses for my kids, so I have $2 left until Thursday. No getting any coffee out this week. I know that if I do have to run out of the house, I will just bring my coffee from home.
Live with less! Cable is not essential, neither is a smartphone. Stick well within the income you have and keep saving bit by bit each month.
My tip would be to save all your receipts/track everything you spend when you first start making a budget. That way you can see where your money is going and have a better idea of where to trim.
My tip would be to comparison shop.
Prayer and tithing. God only asks us to “test Him” one time in the bible and it is in the area of tithing. He says that we won’t be able to handle all the blessings that come forth if we are obedient in this ONE area!! Once I wrapped my head around this then it got a little easier but I could certainly use the help of this book!!!
Take a good food inventory before you meal plan – you’ll be surprised how much you already have!
sit down and do a written budget every month and use cash
We try to use cash for all purchases except gas, mortgage, and utilities
Don’t be afraid to start small. Wait for you store to put your most frequent items on sale and buy several. If you can, use one coupon for each item at that time and save even more!
Me.
I notice that giveaways are a good way to lure lurkers out of the woods.
My advice would be to not use credit cards or if you do pay them off every month. Also to live below your means so you can save for emergencies.
I would definitely say be organized and plan for things in advance. I have saved a ton of money recently by buying birthday and christmas gifts and cards for friends and family early. I had never really thought ahead enough to do this before, but I sat down and made a spreadsheet of all the card-sending and gift giving occasions and people to keep on my phone throughout the whole year. That way I won’t forget who I already got gifts for and who is left when I’m out shopping!
Hmmm….my first tip to start getting your finances in order would be to talk with your husband. You can’t go anywhere if you both aren’t on the same page..
cash only….when you are just starting out Cash ONLY is the way to go. Even Debit cards can be a problem if you don’t watch it….pull out the cash you have available for the week (or month) and when you’re done you’re done. It’s been proven it is physically more “painful” to your brain to spend cash then credit…plus credit is just asking to make problems….
Getting on the same page with your spouse, only use cash and do spend more that you make. I would love to win a copy of this book. Thanks~
My best tip would be to learn how to cook. Go to a Goodwill and get a good basic cookbook (I always see copies of Good Housekeeping and Joy of Cooking cookbooks for a dollar or two) and learn how to keep yourself fed without having to rely on prepared meals or takeout. So much money can be saved and the food tastes better and is better for you.
The library is a great place for looking at cookbooks (they have a million) to see which one you’d like to buy.
The best tip I can give is don’t buy it if you can’t pay for it with cash. That goes for cars too. My one exception is a mortgage payment but would like to make a goal to pay for my next home with cash as well. Interest payments are no good.
Ask for help and don’t be shy. I think there’s a lot of stigma around financial management and people can be shy about coming forward. I didn’t want my parents to know the state I’d gotten myself into so I went to a community budgeting service who helped me out for free. Once I got some one-on-one help, I was on my way.
pay your bills BEFORE luxury spending (eating out, want items, etc)
When starting to budget in an area where I haven’t I take a guess at what I think I’m spending in that area and put that amount of cash in my wallet. That cash is designated for whatever topic I’m targeting my budget on. When I run out I make note of what day. If I have extra then I make note of how much. This helps me adjust new categories to more reasonable amounts and then tweak it from there. I usually run out which is a great time to really look at where the money went.
I actually don’t follow Crystal’s blog but will now. Thanks!
Get a small savings going and then pay off all debt asap!
Track every single dollar spent!
Start small! Do not overwhelm yourself with trying to do everything at once.
I love Crystal and you! Been reading you both since 2007/2008. You are both amazing and have helped me be a SAHM since 2009!
My best tip is using cash envelopes for things like groceries and small household items. When the money is gone, you won’t be able to spend anymore.
It may seem simple, but keep track of all expenses. Including all receipts and bills. It all adds. Up quick. Even those .99 cent cuops of coffee you don’t think you get all that often.
The best advice I can give to a newbie is to start in small steps and SAVE money. Even if you dont think you can, you can! We started saving $10 a month and slowly found ways to cut back our expenses to add to that. Now after paying off our $25,000 in credit card debt I can honestly say it started from us actually just doing it in small steps with persistence!
pay with cash!! stay away from credit cards!!
My tip would be to first make 1 or 2 small goals. For example, to save $25 a week and to pay most or all of your bills on time.
One of the most important things is to not spend more than you bring in.
I think every member of Congress & in the White House should get a copy!
my best tip is to watch where you’re money goes, all those little things really add up
For me I found I had to track every single penny that came in and went out to figure out where all that money was going. Then and only then could I come up with a plan to deal with it all. Now I like to challenge myself to do no spending days at least once a week, preferably more when I can.
The first step is to figure out where your money is going so you can decide where you can make changes.
My tip is to Be honest and true to yourself , it has help me to achieve realistic goals and be happy about it
use coupons, limit your shopping, make a budget & stick to it. something we don’t always do.
My best tip for a newbie is to menu plan. It saves a TON of money because you eat what you have and don’t go out as much.
I have to go back to the difference between a need and a want. It sounds so simple, but yet I find myself confusing the two ALL. THE. TIME.
I might NEED new walking shoes. But I WANT the shoes with the iPod thingee in them that my workout buddy has and loves.
I might NEED a new dishwasher. But I WANT a brand-new dishwasher that matches my kitchen and has the latest gadgets, not the one I can get from Craig’s-List (or from my neighbor who is remodeling her kitchen).
I might NEED a snack. But instead of a healthy apple, I WANT a whole big bag of Doritos.
See how easy it is? My biggest problem is the phrase “well, I *deserve* it”, because I’ve been working so hard, or been eating so healthy, or working my resolutions, or being consistent. It’s a sneaky little thing, isn’t it?
I love that I can go to Giant or Safeway and use the cards and get gas points. Seems I am saving money in the store and at the pump. Pretty awesome!
Talk with your husband/wife about money openly, because it needs to be an open discussion with nothing hidden!
You don’t need the latest fad or gadget – if you really want it, wait until it’s been out for awhile and the price gets reduced a bit.
Id lovvvvvvvvvvve to win a copy! My best advice is look at everything you spend then put a plan in place! I reailzed I was putting out thousands for small conviences every year. remember every cent counts!
Creating a budget is really helpful to see where your money goes. Thanks
My best tip is to try to eat at home as much as possible.
The first thing I would tell someone new to finance is to use cash for everything. When it’s gone it’s gone! Thanks for the chance to win!!
Be thankful for what you have to work with and don’t envy after or covet what you don’t have.
Don’t waste any more time or energy feeling bad about the mistakes you or your spouse have made in the past regarding finances. Maybe there were emergencies or you were young and naive or struggled with depression and couldn’t keep a handle on things. Or maybe manageing a household was overwhelming (it does have a big learning curve after all) and things spiraled out of control before you even knew you were headed down a muddy and crooked financial road. Doesn’t matter why or what. All anyone can ask of us is that we do the best we can and when we know better, we try to do better.
Save first, give yourself a budget, manage your “I wants”. You usually don’t need everything you think you need!
Track your spending and have a budget with clear, concrete goals.
Having a goal of what I am saving up for keeps me committed to not impulse spending.
We switched to cash only last May. Now, when the money is gone, it’s gone. And we know exactly how much we have at a time. We pay our internet bill in person, and we send our electric bill and rent with a money order. Money orders are $1 each, but $2/month is much cheaper than one bounced check fee! (It’s also less embarrassing then finding out at the register that you don’t have enough in your account to cover your purchases!)
My biggest money suck is disorganization. I will realize I need something, know I have it, but don’t know where it is, so I buy another one. Or, I will buy something (like stuffing) that I think we need, and then come home and find out I now have 3 canisters of it! (This just happened a few weeks ago. My mom gave me 2 yesterday, so I have 5 now!) This isn’t that terribly bad, because it’s usually non-perishables, so they will get used eventually. But I now have 3 shakers each of salt and pepper! (I buy the ones with the grinder built in…should really just purchase grinders and then buy only salt/pepper, but I won’t have to do that until at least the fall!) Keeping a better inventory, and meal planning will help considerably. I’m trying to figure out how to get started, but I haven’t figured out how to reuse leftovers, etc, so I end up buying A LOT of food for too many recipes. MUST learn to do this in 2012!!!
Cash, cash, cash… try an all cash budget to see what you are really spending your money on. They envelopes made us realize how much money we were wasting and how many impule buys we were making.
My biggest tip, which I live by to stay out of debt is: only use a credit card if you can pay it off in full each month. Otherwise, don’t use it.
Before you shop for something new, shop at home. I am amazed at the items I can use that are stored in my attic, and have been forgotten.
The most challenging thing for us is food. I am trying to cook at home as much as possible but it is so easy to eat out for $5 and no mess.
Advice I would give is to get rid of your credit cards, start a weekly budget that you REFUSE to go over, buy only what you NEED, buy in bulk, buy generic, use deal saving sites, only food shop weekly or biweekly, and make sure you save each month even if it is only a small amount starting out!
When I decided to make it a challenge, or a game, it became much, much easier. I started by writing down every penny we spent in a spiral notebook and progressed from there…Also, birthdays and Christmas comes EVERY year – plan for them….
I try to research most of the purchases I make that are not your usual purchase. I research whatever I plan to buy online. I check the prices on the object I’m going to purchase and then I also check the reviews to see what problems I’m likely to encounter. I also have discovered that cash does make a difference when you purchase. I tend to spend less.
I highly recommend the free financial budgeting site “Mint” powered by Intuit. It has been a wonderful tool for my family’s financial management system, especially if you have multiple accounts.
Thanks!
Tip- Take full advantage of your local library. Not only are books available for FREE check-out but also dvds, videos, and audio books. Our library even has a small bookstore attached with deals for for as low as 10 cents! In the summer there is entertainment for the kids one day a week in the afternoon. During the year there are free chorale concerts AND don’t forget Book Club!! All FREE!
Wait before you buy so as to not give in to impulse purchases (when reasonable to do so). Live below your means. Have a set amount that you want to have in your savings, or whatever name you call that kind of account, and once money goes into it, only allow a true emergency to permit you to withdraw funds. Plan for small treats, it doesn’t have to be budget blowing to be a luxury if you look at it right. Take advantage of the free/nearly free offerings in your community….Thanks for opportunity!
Plan ahead and save for emergencies and annual/semi annual bills. Truly consider all purchases as to whether they are a want or a need.
I am new to financial management myself. Just starting at age 42! I try not to focus on what I could have accomplished if I hadn’t started so late. My advice is to use the old fashioned envelope system for groceries, gas, entertainment, and clothes. Budget how much for each category and when the cash is gone no more spending. When you use cash it seems to ne more real than using a debit card and you can’t overspend if their isn’t any cash left.
I’m new to responsible financial management. So, my biggest tip would be to take it day by day. It’s not so overwhelming then!
One piece of advice that I think is important is to make sure to give yourself a little “mad money” each month. It can be as small as $5, and be spent on whatever you want. My favorite splurges are Starbucks, a magazine, or even a new e-book. When you get to spend a little on yourself each month, you don’t feel deprived, and living on less doesn’t seem so hard.
Pay yourself first!
Take your lunch to work every day. You’ll save $5-$10 a day.
My best advice is to start by tracking every penny you spend. That way you know where it all went and can develop a budget! Also, I’ve started using mint.com to easily set-up and track my budgets.
i think a good tip is to only buy what you need & be content w/what you have .. it really does make a big difference!
Track your spending!
Eat at home and take homemade lunches and snacks if you need to eat out!
Tip: start using cash only, if you don’t have the cash, you don’t need it
Oh there are so many but I think that first of all be kind to yourself and remember if it took a while to create the problem it won’t be fixed quickly so pick yourself up if you make a mistake, admit it and try again. Castigating yourself endlessly will add to the misery. It takes time to build new habits.
If you arent going to use an envelope system, use a multi-checking account system.
I have 3 checking accounts & 1 saving account. 2 are in one bank and the third checking account & the savings account are in the credit union which is housed where I work.
In my savings account, I put my savings and enough money divided by 26 weeks to cover my house taxes, & my auto insurance too.
In my checking account there, I deposit $50 every pay which is every other week, to cover eating out on Fridays, and any other incidental I have during the week.
In my other checking account I put a prescribed amount into my Bill Pay checking account and nothing comes out of that account except for specific bills. Thats it! Period!
In the last checking account, and this is the one that if for some reason I have less than normal or more than normal amounts on a paycheck, it goes into this one. This one is my groceries & other incidentals account. When its gone, its gone! Period!
I have just started a new habit with this account recently. When the new paycheck rolls in the account, I roll however much is left from the week before into my bill pay account and pay my highest interest rate debt.
Im able to move money between the two accounts at each place online so if I need to, its easy to move it from one account to another.
Best of all, my paycheck is direct deposited so I dont have to stop at any bank any time, unless I just especially want to.
I think it is important to write down every bit of money you spend for a couple of months so you can see what areas need trimming.
I think it’s important to make sure you and your spouse are on the same financial page-if you’re married. Track all your spending and then have weekly or monthly meetings to hold each other accountable and see where your money is going. Easier said than done, I know.
Have a clear goal, write out a plan and stick to it. With a written plan one has a concrete piece to look at. Where as if it is just in your head you may not be as motivated to work towards it.
My tip is to use coupons and check sales when you shop for groceries
I like to use a spreadsheet that automatically divides my paycheck by percentages into several different categories: bills, grocery, gas, etc. This way I can see how much money I have in each category and I can also move money around, if need be, to even things out a bit if I have an unexpected expense.
Become a couponer- you can save a ton of money if you plan it right.
If you’re having trouble making ends meet or saving money, try using cash or the envelope system to get a handle on those miscellaneous expenses.
My best tip for couples making a budget is to make realistic goals by reviewing your past spending habits (like check out the past 3 months bills) before you decide to make an unrealistic goal that you won’t stick to. And then decide TOGETHER and spend your money TOGETHER. Both people have to be on the same page to make it work and to make it work happily.
Keep it simple, write everything down when it is due.When I first set up house I used the envelope system and it worked extremely well for me.
Each envelope had a company on it eg Gas, Electricity, insurance etc. I put an amount each week and this really got me going well.
Sometimes I over estimated sometimes under but I never needed to find hundreds of dollars for a bill.
Hope this helps.
Be very, very thankful for what God has entrusted to you, wether it is
little or much.
Best tip: Don’t compare yourself to others. Someone will always have more money or more stuff than you. Be content in knowing that God will provide!
I would love to win this book, but if I don’t, I am very fortunate to have found over 25 new blogs to read and be involved with.. A real win win situation. I love it!
Thank you for the giveaway!!! Eat out as little as possible is my tip. This alone can save a ton!!!!:)
Make an excel spreadsheet for your budget!!
Best advice I can give to new fledgling in financial management is to don’t buy a item because it % off. yeah your saving money but really how many Ladles does one person need??
My best tip is use CASH – it’s a lot harder to let go of and you will spend less!
Keep a calendar for writing down when each bill is due and needs to be paid. =)
To know the difference between Need and Want.
Figure out a realistic budget that works for your family. Every family has different needs and priorities and what works for one will not work for another.
No matter how little always put some money in savings.
I think some of the best advice I always keep in the back of my mind came from my grandmother. She always said “use it up, wear it out, make it do, or do without”. I think just taking the time to really consider a purchase or consider a more frugal way to go about it helps a lot. It becomes a habit- a great habit!!
What finally clicked for us to begin on the path to financial responsibility was to get both spouses on board at the SAME time! We had long talks about what our future goals are, and what our habits were doing to destroy those goals. It’s not always easy to do without, but we ARE getting closer to getting out of debt and are trying VERY hard to live responsibly.
My advice is the same as many others – track your spending. I use a program called YNAB (you need a budget) that I really enjoy using to budget and track all expenses. I save receipts for everything and then sit down a few times a month and enter everything based on receipts, bank statements and the odd thing written on a scrap of paper. My second advice is to reduce / eliminate food waste by cooking smaller amounts, freezing and eating leftovers, freezing spoiling fruits or breads for future use. I use bread crusts to make bread crumbs, use for stuffing a bird and for croutons. I’d love a copy of this book to learn more.
Thanks,
Carrie
Work hard. Spend little. Have lots of (cheap) fun.
we are really trying to put money away this year. thank you for the giveaway!
My best advice is to take it slow and focus on the positive. One failure. Dosnt mean you can’t eventually suceed at your savings goals.
My best advice would be to get rid of credit cards!
My best advie is to use cash. Only take out what you need and you’ll be amazed at how much money you really spend without noticing. And when you have a budget really stick to it, and when the money in an allotted category is gone, don’t borrow money from somewhere else to pay for it. Stick to the goals you set for yourself.
1 name 2 words Dave Ramsey
I find that just keeping track of monthly spending helps keep overspending in check. Writing all spending down works for me like a financial dieting journal.
My best tip that I tell myself is or others, “Do I need this, or Do I just want this?”
I try to not pay full price for food and clothing. I shop sales and use coupons whenever possible.
Would love to win a copy of the book. 2nd chapter sounds really interesting.
Inventory your debts & bills, make a plan and take one day at a time. I’m still fairly new as well. I think it’s important not to get discouraged at the bumps along the way. I gets easier with time!
Cut up your credit cards!!!!!
My top tip is to write down everything you spend. Keep a little notebook in your handbag and as soon as the money is out of your purse, write it down. If it’s paid for by card, keep the receipt and every evening record your spending (cash and card) in a cash book. It can be a shocker at times and makes you a lot more careful!
J x
My best tip would be to be optimistic. You’ll be surprised by what you can accomplish. I was guilty of listening to people sharing their advice and thinking that would never work for me. When my financial situation recently changed, I was forced to make more of an effort to save and was so surprised with how well all of that advice really worked when I just put my mind to it. I’m not perfect but I try my best to stay on track and if I fail, I try to learn from that mistake and move forward trying to do better the next day.
Tip – budget! use a budgeting software programme if you can YNAB is AWESOME! Also goods/services/deals aren’t cheap if you haven’t got cash to pay for them!
1.Know the difference between your wants and your needs. 2. If you must have a soda or candybar from a vending machine on a regular basis at work, buy the same thing at the store in larger quantities or convert to repackaging a few walnuts and honey wheat pretzels together and take your own drink. 3. I have a difficult time justifying purchasing the popular “snow storm” treat that is sold at a famous ice cream store at the price of a half gallon of ice cream even if it is extremely yummy.
The Pantry Principle of grocery shopping/menu planning, as detailed in the Tight Wad Gazette. You stock up on food at its lowest price then plan your menus around what you have (including using food that would spoil if not used).
Although I follow Crystal on twitter I’m not subscribed to her blog – that may change this PM! I’m not a deal searcher as my aim really is to consume just what I need, and I find that sales and reductions can lead one astray! (I can only speak for myself of course
). By buying just what we need and desperately desire (instead of all the little bits and pieces in-between) we’re doing okay. We’ve never been in debt as such, and became totally financially independent at the end of October. It’s what you do everyday that counts, small (unexciting in many cases) steps toward your goal! Forego that coffee out one day (but if you desperately want it the next day – go for it), keeping in mind every penny not spent is saved, however seemingly insignificant.
I listen to Dave Ramsey & totally agree you need to start out in “baby steps”. Don’t try to all of a sudden change everything you do, but set small goals & stick to them.
Spend mindfully.
Grocery shopping tip – plan meals on loss leaders and sale items and buy extra if possible to build up a pantry.
Stick with a list for shopping–and don’t stray!
Saving money, and being happy is more about not comparing yourself or what you have with everyone else. Less is more, is not just a saying, but a way to find happiness and contentment.
I just gave this tip to a friend last week: listen to Dave Ramsey!!
AMEN!
Start out small. Pick one area to begin your savings so that you do not become overwhelmed.
The best tip I would give to someone new to managing finances would be to be mindful of your spending and track it, as well as set a budget. Know how much you have and live below your means always.
eliminate credit card usage!!
Don’t go “SHOPPING.” I have seen too many people who go out looking for things to buy. You will find great, tempting things. Sometimes you will also find them on sale. But you probably don’t NEED it. Buy what is needed, not out of impulse buying. Avoid the store that gives you the most trouble – for some people that is Target. If you absolutely have to go there, make a list. Only go to the section of the store you have to and stick to your list.
See where you can cut expenses in everyday habits. For instance, instead of using paper towels for everything, keep old washcloths or bibs in a kitchen drawer for cleanups. Then throw them in a small, covered container until your next load of laundry. Also washing your used ziploc freezer bags for future use! These can be so expensive when you throw them away with each use.
Best tip for those just starting to get a handle on their finances: start small (take baby steps). Implement 1-2 new things and after a few weeks, add another 1-2 so that you don’t get too frustrated and burned out. For example, add $10 per paycheck to your savings account and adjust up to $20, then $30, etc. Or add one night of cooking at home, then two, etc. You can see progress and build your confidence all at the same time!
Thanks for the giveaway!
Menu planning for the week and sticking to it has helped me a great deal to stay within a budget. It’s amazing how much money can be spent to eat out, grab convenience meals, etc.
I think the one tip I would have would be to figure out what you really need to survive each month, and then set your goals for that. If you have extra money than you can figure out what would be the next step for you. Maybe start a small savings account to fall back on if needed. Start with the basics.
Hello Lisa,
I just came upon your blog site. I am new to this whole frugal living and can use any help I can get. I have a goal to change our financial picture this year. I had done so by decluttering my kitchen cabinets, so I know how you feel, the rewards of seeing them clean and organized was wonderful, I have make arrangements to have a direct deposit out of my paycheck to my Visa card every 2 weeks to get that paid off and I have made menus weekly to make sure we are using all the food in the cupboards and not waste or buy more than we need. If you have not given your 2 books away as of yet, I would love to be put in the running. I do not have a budget and never have but am in need so one and the help to make one. I look forward to reading what you have to say next. Thanks for the blog!
Be clear about needs vs. wants, and stick to it.
The best thing I can think of is only take cash when grocery or other shopping it make you think harder about what you buy and how much you spend.
Record every penny that you spend so that you’ll see your exact outgo. It’s often eye-opening to see where the money actually goes.
I’m new to this, So I guess I’m the one who needs the tips! and the book….
Meal planning can be the best money saver & very financially responsible thing to do. BUT sometimes it’s hard to sit down w/ a blank sheet of paper and get creative. SO – I record what we actually end up eating for a month or so. Then once I have a good base of things I cook on a regular basis, I fill in my next month’s calendar with those things and only add in 2-3 new things. All the way keeping track of what I’m cooking so I have a bigger base to pull from when making future menus. I also try to designate a certain night of the week to “homemade pizza night”. Just because it’s good, healthy, and easy…and it takes the thinking out of one night a week.
I have been pretty good with money for years – bought my house and financed two adoptions on my own and now support my two children on a social worker’s salary. That said, I was amazed when I moved from having a general budget and “kinda’ watching what I spent on each” to keeping track of every dime. I use a free online program that I just started a couple months ago and wow – I had no idea how quickly those runs out to McD’s could add up in a month! It has really been an eye opener re: the money spent on groceries, fast food and grabbing lunch at work (and I thought I was being careful! but when you see it in graph form in bright red on one of these online budgetting programs – it really hits home!
My tip is contentment. I have learned to appreciate what I have and not what I don’t have and now I feel like I have a whole lot more, time and money to feed my family healthy meals. Looking at your situation differently is an amazing spirit lifter.
One great tip is just be content with what you have. The Lord blesses us with so much.
Before you buy anything, ask yourself do you really need that item and could you get by without it. Think of ways to not spend money. Make it a game to see how long you can go without purchasing things.
My #1 tip is to automate all your bills. When you do, you will never incurr late fees or a bad credit rating! Bonus benefits:
1)peace of mind
2)less clutter (paper & electronic)
Perspective…when we are struggling to make ends meet, I try to remind myself that no matter how bad it seems, someone out there has it worse. By reminding myself how much we have, not how much we don’t have, I am able to refocus and get back on track.
Don’t buy it just because it’s a great deal and you would like to have it. Truly need it unless it is an indulgence you were planning on buying anyway!
The one thing I would tell anyone, spend less than you make….not new advice but good advice.
Since I am new to responsible financial management, I would suggest finding inspiration. Go on blogs, see how others are succeeding and jump in with them.
Love her blog. She blesses me so muc heveryday with her posts.
The first step is to track your spending for an entire month! I know, tedious, but from this process you will find areas where you are just blowing your money. It’s an eye opener!
Forgive yourself for past mistakes, realize that they can truly ALL be in the past, and know that “Today is a NEW day”!!!!
Leave the old mountain (of guilt, debt ans shame) behind and keep your eyes forward on the new land in front of you!
Oh yeah . . . And get an accountability partner! One that is highly encouraging . . Yet honest and able to confront you if necessary.
When you get married set aside time to go over your financial goals and then check in monthly or every few months to see how close you are getting to those goals.
Check consignment sales, especially for kids’ clothes
Surround youself with like minded frugal people. They will inspire you and encourage you to stay on track.
My tip is to seek God’s will and to try and follow the Bible’s guidelines on good stewardship.
Especially at the beginning, if you spend it, write it down. It gets to be a habit, and then it’s easier to keep track and predict needs.
There are so many great tips! I think for me, the best tip is to focus. Pick just ONE thing. When I start on something new, I want to go whole hog and jump right in with both feet. Which often means that I get frustrated, disappointed, and burned out. When you’re making changes, trying new things, it can take some time to get all of the kinks worked out. So, if you want to cut costs and pay cash, try setting your cash budget for food, then going cash only for food for a month. Then the next month, expand into other areas.
Only buy what you can afford – not what you want.
My greatest advice is to go with cash. I think this is important because when you run out you have to stop spending.
Best advice I can give, and live by myself, is not compare your life to others, but be confident in the plans God, and you and your spouse have for your family. STOP using plastic! Cash only.
Get organized!!! It is much easier to stay on top of your finances and bill paying when you know how much money you have coming in vs how much your monthly bills are andwhen you have a specified place to sit down and pay your bills. Even better is to set up all your bills by bank draft on the day after you get paid. Less paper clutter to lose, or retain/file but also you won’t get too busy to “forget” to pay any bills.
I’m the old-fashioned cash in envelopes kinda girl for everyday items as well as having separate savings accounts for larger items. For example, my envelopes consist of cash, grocery, food out, gifts, clothes, & medical while the separate savings accounts have been handy for vacation, car, property taxes & insurance, and long-term savings.
With cash, once it’s gone, you have to wait until the next paycheck when you refill your envelopes before you can purchase more. While the larger item savings accounts are so helpful cause you can just set up automatic transfers or direct deposit from your paycheck. If you allocate funds for specific type of expense such as a car account, (of course it’s never fun having to pay for car repairs) when the expense arises – you have the money already set aside for that purpose, it won’t feel like such a sacrifice as opposed to always having to dip into your regular savings.
My tip is never go shopping on an empty stomach because you’ll buy lots of junk food and plans your meals so that you will buy only what you need
My best tip would be to come up with a budget and try to stick to it. And, if a person decides to start to try couponing, just start slow and don’t burn yourself out.
My best tip would be to track your money for a month so you know exactly what you’re spending and earning!
When you are on a budget and overspend, just try and try again. It’s like a diet. If you mess up, just start again tomorrow.
Learn contentment, be happy with what you can afford and dont compare yourself with others. simplify simplify simplify!
menu planning has helped our grocery budget
Do not use a credit card for basics or splurges…use it for emergencies only!
Try to follow a budget, and try to do fun things at home.
put those credit cards in the freezer, safe, or just cut them up! only buy what you NEED and have an emergency fund. let the credit cards close themselves out so it won’t ding your credit
My tip would be to start with a plan and knowledge of your full financial situation (ie. net income, look at past spending habits etc). Sounds like a great book!
have an automatic monthly transfer from your main savings or checking account to an ING (or other similar type) account as a long-term savings. it’s not as easily accessible and is a great way to establish a long-term savings fund. just a little bit a month can definitely add up over the years.
Start saving for retirement when you start your first job (this could be in high-school if you have a part-time job, or when you get your first full-time job after completing school). Even saving a little bit as early as possible will make a big difference in the long run. Employee saving plans are great, but you should open your own one as well (I’m a fan of the Roth IRAs).
My tip would be communicate and agree with all the details of a budget with your spouse.
My best tip – Use less of what you use. Do you need a whole cup of sugar in that Kool-aid or will 2/3 do the job? Do you need a full cup of laundry detergent or will 1/2 cup do the job? How much toothpaste do you really need to get your teeth clean – a whole brush full or 1/2 brush full?
My tip is always pay yourself first
Plan what you are going to do with your money before you get it. I write down each weeks amounts (where it all goes to the last dime, including savings, groceries etc) on an index card and keep it in my wallet. It really keeps you on track.
If you are married balance each other out and understand each others spending habits. One may be the spender and the saver but dig a little deeper. For instance I found that if we order out my husband buys food for 12 when it is just for the 4 family members. This understanding of his or mine nuisances helps us find the money in the budget for waste or overspending.
Take “baby steps” and start with small goals.
I’m not just a money saving mom, but a money saving gramma. I have grandchildren part time, and try to teach them about saving money – by not spending it in the first place! If we instill frugality in our children, they’ll carry those skills with them always. Teaching is the best thing we can do for the next generation, and the generation after that.
The thing that most helped my husband and me get on the same page with budgeting/being intentional in our spending/saving, was WRITING DOWN every single cent that came into or went out of our lives. It forced us to come clean with those “little things”we spent money on without realizing how quickly they add up, and also helped us realize how often money besides our predictable paychecks came through the door – reimbursements from work, from our flexible spending account, gifts, rebates, interest payments, etc. Eye-opening!
My biggest tip is to have patience. In truth, I’m fairly new to being frugal, but I’ve found if you’re willing to wait, you can get some really good deals. For example, I regularly get “over ripe” bananas for a quarter a pound, but when the grocer is out, I just wait until they bag and mark down the next batch instead of paying for “regular” bananas that are three times the price. I’ve also got a specific movie or CD at a better price because I’ve waited and didn’t buy it right away. My best find: a solid oak TV stand for free. Instead of going and purchasing one when I really wanted it, we made do with what we had. Now, we’re blessed with a free wood one that we really like.
As a Christian, I’d have to say that tithing is an excellent first step to financial management. But for someone who doesn’t share my beliefs, I would recommend meal planning & sticking to a shopping list (to keep from impulse buying).
I was reading a sample and this book looks great. Are you the Lindsey and her new camera in the sample read? I would love to win it! My piece of advice is Save every month first and don’t touch it unless that life’s big rainy day happens. I enjoy reading your blog everyday with my coffee, thanks!
Write everything down. Figure out what works for you. And slow and steady wins the race. This is a Marathon not a sprint.
never pay retail! always look for the deal.
This has probably been said, but just spending less than you take in is crucial. Being happy with what you have is also crucial. New stuff will always be there for later!
This has probably already been stated but track your spending–every penny–for a couple of months to see where your money is really going. My husband and I don’t actually have a budget, but we have been tracking our money for years and it keeps us honest. We only spend what we have.
My best tip would be to develop a budget system that work just for You. Try to put budget for all the expences you do. With time you wil find the best and most effecient system for You. And keep that budget!
I think for someone trying to be financially responsible, one of the first things you have to learn is gratitude. You have to be thankful for what you have before you can learn to spend responsibly. I say this because when you’re thankful for what you have, you’re less likely to spend needlessly and extravagantly (and usually having to use credit!) Gratitude….makes a huge difference in your financial life. At least it has for ours.
I am just starting to become frugal. I would love this book
Keep a budget. For beginners, this is a very important step. Once a budget is figured and established, you may not need to keep track as closely, but it can be amazing (and enlightening! and frightening!) to see where your money has been going when you first start out.
Sounds great! I’d love to have a copy!
The latest has been refilling foaming soap dispensers with 1 inch soap &the water.
My advice would be to keep learning – about money and being frugal. Read websites, read books, ask others – never stop learning!
I am not sure I have advice about money. I am working at trying to be better and more frugal (why I love your blog). This book likes it could really help me.
I think the best thing I have done so far is start to make a lot things myself. Making my own granola, breakfast burritos, seasoning mixes, etc. has started to save me money on my grocery bill. Little steps…
My advice would be to be honest with yourself and be realistic in what you can truly afford. You don’t need to buy an iPhone 4s or huge flat screen tvs to keep up with the Joneses.
Always have a plan for what you’re going to purchase and do your homework (even on small ticket items). Many times you can find great online coupons to use.
keep track of the every penny you spend – - for a month or two. you will likely be surprised about where you are wasting your money.
Keep a budget, menu planning and learn the difference between wants and needs.
Always leave a little room in budget for misc. items! There are ALWAYS things that aren’t covered in regular budget categories but can throw your whole budget off. Things such as printer cartridges are really expensive and hard to know how quickly you will go through one. Thus, hard to budget for. There are hundreds of things like this in a home. A little wiggle room really helps to cover things like this.
Use cash! Spending is harder when you’re actually handing over money vs. swiping a card (even if it’s debit).
Plan meals. Weekly or monthly. Helps so much w/ grocery shopping and cuts down on the “need” to go out to eat.
Deciding that your going to be honest with yourself as your start this financial change – if not you’re dooming yourself to fail before you begin.
Make sure you’re both on the same wave length. It might be a difficult discussion based upon your past with handling money but once you’ve come to agreement, you’ll be able to go forward better with decisions and coming up with a plan!
Responsible financial management to people new at this; Do not Spend more than You make and save at least a little and give a little. For what we sow; reap. This includes our finances!
Planning! Make a budget, plan meals, and make and use shopping lists. Also, using cash instead of credit has helped me to keep to the plan.