The “Water Cooler” is a feature on Claycord.com where we ask you a question or provide a topic, and you talk about it.
The “Water Cooler” will be up Monday-Friday in the noon hour.
QUESTION: What are some good tips you try to use to save money??
Talk about it….
Live below your means.
Eat at home.
go on YouTube and try to fix minor and common issues around the house, car.
no tithe for the church.
I don’t go out of my way to look for a bargain, I’m too lazy. I used to be a little bit of a cheapskate and look for the best prices, but one day it occurred to me that my time
is worth more than a few pennies or a few bucks I might save. However, there are some
things I do to save money, like I don’t and never have bought coffee at Starbucks, or any
of the other outrageously high-priced coffee shops. I never eat at a fast food joint, and I
also don’t shop at high-end stores. I don’t need the latest iPhone or other electronic
gadgets, and I don’t wear fancy designer clothes, I’m a Levi’s and t-shirt kinda guy.
Learn the difference between needs and wants.
I work with students to plan out a budget that follows the 50%, 30%, 20% Rule.
50% to spend on needs
30% on wants
20% savings
5% of that to a Roth IRA, 401k, 403b or another retirement plan.
We talk about the perks and drawbacks of each retirement plan
Keep house cold in winter, hot in summer.
I cook my own food, make my own coffee, and do my own household repairs and car maintenance. That lets me afford other luxuries that are more important to me.
Move out of California
understand basic economics “not like our government that spends two plus trillion dollars more a year than they take in” (hope that’s changing) When buying buy the best you can afford and if you can’t afford what you need then try to save until you can, don’t buy crap (Chineseium) as it is a false economy.
If any of one’s job has a match % in a 401k
at least have that taken out.
I understand that not everyone can afford that but that is free money if they can.
Start saving as soon as possible.
My teenager asked me if he should start saving
as a teenager. I said yes, absolutely
# 1 tip for saving money.
Don’t spend it.
People don’t need most of what they have.
Just look at anyone’s garage.
Pre-pay your mortgage’s principal portion, especially at the beginning. The savings in interest payments is mind-boggling when you actually look at an amortization schedule. And never pay Starbucks.