• Reduce cost of living expenses. Food costs, electricity, clothing and entertainment costs can be greatly reduced. If you do that you might be surprised at the amount you have left. I'm of the opinion that food takes the biggest chunk of money whether you are single or have a family. There are ways to reduce food costs in half and still be well nourished. Those extra savings will help to pay bills and save too. It doesn't matter how much you save only that you do. Good luck :)
  • Cancel the cable! We all feel like this is a necessity these days, but you can probably get decent network reception without it, and the $50 or $75 a month you save will add up fast!
  • First of all I highly recommend you have a look at this site:, it has been a lifesaver for me over the past year or so. Some of the advice about bank accounts, mortgages etc won't be relevant if you live outside of the UK, but there are some excellent ideas about cutting back and how to get more for your money that would be helpful to anyone. You might also have a look at The main thing that you have to bear in mind, which I am aware sounds terribly obvious, is that if the money you have coming in isn't covering the bills you have to pay, then you have to either reduce your expenditure, or increase your income. Until you've got enough to pay bills its not even worth thinking about building up savings. Although there's more tips out there on specialist sites (of which there are hundreds!) the most useful (and probably obvious) things I think you can do are: - Don't attempt to save money in a savings account until you're out of debt. Any interest you pay on your debts will more than cancel out what you make on your savings, so you're effectively losing money, not saving it. Don't tell yourself that building that "safety net" is more important than paying off bills and debts. Savings are a GOOD thing, but you should sacrifice luxuries to build them, not necessities. - Check that your utilities (phone, electricity, gas, whatever) are from the cheapest supplier in your area. You can sometimes knock a substantial amount off your bills by switching to a cheaper supplier. It may take some legwork to find out who does the best deals, but it'll be worth it. If you rent your house/flat, consider looking around for somewhere cheaper in the same area. (I once moved from one 2 bedroom flat to another just down the road with a £100 a month price difference) -Consider asking for a payrise, taking on some overtime, going for a promotion, or applying for a better paid job. If none of these are an option you might consider getting a second job, perhaps a weekend shift in a bar or shop. Before you do this, check the tax laws wherever you live to check that you won't get hit so hard by income tax that it makes your earnings worthless. - Check whether you're entitled to any benefits or financial help from the government. Often people assume they won't be entitled to anything and fail to claim some very helpful extra cash. -Sell some stuff you have and don't need. Ebay ( is the obvious place- a guy managed to sell a brussel sprout on their recently so surely you can flog some of your junk. You can also sell CDs and books via Amazon's "New & Used" section, and often get a better deal than ebay. -Save on food shopping and go part or completely vegetarian (vegan is even cheaper). Meat is the most expensive thing most people buy- by limiting your consumption to 1 or 2 times a week you'll save a fortune. Learn to love dried pulses such as aduki beans and lentils- they're ridiculously cheap and filling and you'll save a fortune. Put a ban on brand name products and buy generic shop's own label foods (You usually find them on the bottom shelf in shops). Remember its far cheaper to buy raw ingredients and make meals from scratch than it is to buy processed food and ready meals. Visit shops in the hour before closing time as they often knock prices down to get rid of perishable stuff. -Sounds obvious, but stop buying stuff! You can live without another CD or latest model DVD player. Before you buy anything remember to ask yourself 3 questions: 1)Do I need it? 2)Do I need it NOW? 3)Can I get it cheaper somewhere else? Remember that human beings have survived several thousand years without the latest edition of Grand Theft Auto- you will not drop down dead if you attempt to do the same. Besides, if you don't pay your electricity bill, what are you going to play it on anyway? -Cut down on your entertainment budget by entertaining at home instead of going out.Hold tapas parties where you invite round all you friends ang get each of them to bring a different dish or a bottle of wine.
  • Try this Debt Budget. It really works: 1. 35% (of your take home pay) - House, House Insurance, Electric, Water, Phone 2. 15% - Car, Insurance, Gas 3. 10% - Savings 4. 15% - Credit Cards, Medical Bills, Loans 5. 25% - Groceries, Child Care, Spending Money, Luxury Items, Vacations, Etc.
  • Well, I have envelopes. When I was saving for a dog, I had an envelope marked "dog vet fees" and I would put all my spare change and money into that untill I had a fat envelope. I found this method worked so I continued doing it with my bills ;) Good luck - and thanks for asking.
  • 1. Put something in savings, even if it's $10. 2. Record every dime you're spending now. 3. Review it and see what you can do without most easily. Different for diff people. 4. Have a yard sale, 5. sell your "stuff" on ebay 6. Get a 2nd job, parttime job or work overtime 7. Talk to creditors about lower int rate or pymt plan 8. Live on LESS THAN what you make.
  • Something I am currently using to some degree of success is Suze Ormand's snowball method. 1) List all of your debts 2) Concentrate on paying the smallest one off while still doing what you need to keep the others as current as you possibly can. 3) Once that smallest one is paid off, add whatever you were paying to it to the next smallest one's payment and concentrate on that one next. 4) Repeat step 3 for the next one. Soon, you'll have fewer monthly payments to make and the debts will start going away. Obviously, you need to stop using whatever lines-of-credit you pay off. Not necessarily close the accounts, mind you, but stop using them. That way, it will still be avaiable credit, but carry no balance.
  • Top Ramen. Don't live off of it for too long, but for a month or two it can really be a life saver. Just keep in mind that it has absolutely no nutritional value.
  • Conserve water & power, clip coupons, donate blood & plasma, recycle aluminum cans...whatever else u can think of that will mean more $ in your pocket, rather than out.
  • 1. Spend less money than you earn. Set a target for savings, ideal would be 10% of your income (this is what i do personally). 2. When it comes to non-perishable items, buy in bulk whenever you find something on sale. This can save you quite a bit of money. 3. Don’t buy anything just because it is on sale. 4. Don’t eat out as much as you'd like to. 5. Regulate your electric use: When not in use, unplug electric appliances. Apparently, unplugging the TV instead of just switching it off can save a lot of electricity! 6. If possible, you could use it provides reviews of all accounts in one place track all your bills and also help you with budget and cash flow management. 7. Don’t ever spend money just because you have it – “A penny saved is a penny earned”
  • See, you are one of the people ruining this country! You poor people! You caused the economy to collapse, the banks to fail, the war in Iraq, the influx of illegal aliens, the housing crisis, the war in Afghanistan, a child being left behind, the health care's poor quality, and you expect the people with money to take care of you! This is all your fault. If you are serious, email George Dubai, Dick bin Cheney, Boss Limbaugh, Tom Delay, or someone else who knows how the poor should pull themselves up.
  • Prioritize! Pay in this order every month: 1. Shelter - Pay the mortgage or rent first. 2. Food - Clip coupons, shop sales, buy store brands, cut back on meats and fresh veggies (frozen vegs are fine). 3. Transportation - Make your car payments and maintain the car. If you can, sell the car and live on a bus line. 4. Utilities - See what others here have suggested to save on electricity, gas, etc. Also: Cut back to the cheapest cable. Get rid of the pricey cell phone and get an inexpensive one, then cancel the land line. Get books, music, and movies free at the local library. Don't eat out. Shop the thrift stores for clothes. Cancel all credit cards but one - and put that one away in a hard-to-reach place.
  • When you buy something and your change is back in coins, do not use them, save them, roll them then make a deposit in a saving account meant to be used on rainy days or with a goal in mind.
  • If you start a home based business, this legally allows you to declare half of most of your bills as business expenses and you can deduct the total from your income tax and get it back with your tax refund ... half rent/mortgage, half power bill, 1/2 phone bill, etc. If you have children, do NOT 'give' them an allowance, instead, list them as employees, give them simple tasks, and 'pay' a salary to them with official company checks that they must take to the bank (deduct as employee salary expense). Also, ALL of their school expenses become 'employee training' expenses (deduct again), right from kindergarten to post graduate Ph.D.s !!!
  • if theres not much in the fridge turn it down, it uses a lot of energy. cut back on food spending (cook your own instead of going out, buy in bulk for things that last a while like flour, cooking oil, etc check out discount grocery stores in your area) cut back on utilities (turn off lights, wash clothes in warm or cold water instead of hot) insulate windows and doors don't turn tyhe heat/ac up so high, if it's just a little chilli put on a sweater, a little warm use a fan have cable, home phone or other subscription services, examine the bills closely, often hidden unrequested charges creap in when your not looking, don't be afraid to call the company and demand to know what a charge is, why it's on your bill and if you don't need it have it removed. you can save a lot just by removing long distance from your home phone. cell phones, look at a cheaper plan/service provider and loose the extra features you really don't need/use when ever you buy something, really stop and think, "do i really need this item?" "will i use it or will it join the junk cluttering up my closet?" "can i get it cheaper someplace else?" finally, don't throw away your unwanted stuff, get something for it (sell it, trade it, make tax deductible charitable donations, worst case sell it for the raw matterieal paper, gold, metal etc)
  • Focus on paying off (notice I didn't say paying down) one bill at a time, and when one is paid off, DON'T make another one to take its place. Target one by one, every bill and debt that you can for termination.
  • Reduce the number of bills. That is to say: spend less.

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