How can I save?

[messengerhot]

I'm wondering if I can still save. I always try to but I do have the habit of buying things for our house. I like decorating the house. I always go and shop and look for bargains. I want to stop and start saving but how? Do you have savings and do you manage to keep it for a long time?

[herbgeek]

Here's a technique I use: stay out of the stores. I know when I shop I will find something I have to have, so I just don't. I also find it helpful to focus on why I want to save/my long term goal. You have to want the long term goal more than the temporary high of shopping to do this over the long haul.

[Gardenarian]

Instead of looking for bargains, make a list of everything you really need. Figure out how much money you have to work with. Then hit the garage sales and second-hand stores and Craigslist (Craigslist is generally more expensive, but you can just check FREE listings.)

Don't buy anything not on your list. Don't compromise ("it's not really what I want but it's a deal and okay for now".) No. Only get stuff in really good condition that you actually like a lot and has all your requirements.

[Yppej]

What works for me is to only use cash, and to limit that cash by having money automatically transferred from checking to savings each month. I do not have an ATM card further limiting my access to cash.

[Ultralight]

What works for me is to only use cash, and to limit that cash by having money automatically transferred from checking to savings each month. I do not have an ATM card further limiting my access to cash.
I admire this technique and have used it for months at a time to build up savings and/or pay down debts.

[Ultralight]

I'm wondering if I can still save. I always try to but I do have the habit of buying things for our house. I like decorating the house. I always go and shop and look for bargains. I want to stop and start saving but how? Do you have savings and do you manage to keep it for a long time?

Ask yourself this: What would you really rather have -- savings or home decor?

[razz]

Ask yourself this: What would you really rather have -- savings or home decor?
That is my approach. You have two competing choices. Which is the priority? It is true for every decision on spending that you make whether for 50 cents or $500 or more. All about values and longterm consequences.

[catherine]

a) You can do some kind of automatic savings-I have money taken out of my checking account automatically every month and it really adds up.
b) Stop thinking that you're saving money by spending money on bargains. If you saved 50% by spending $10 on a $20 item, you didn't save money--you spent $10. This is why I never coupon. I'd rather do without the packaged crap than save 80% on it.
c) Make do with what you have
d) Take the challenge of testing your own resourcefulness by utilizing what's at hand to fill your needs
e) Buy things at Goodwill or Craigslist. Since I've been shopping for things I need for my house in VT, I've gotten the most excited by far from the purchases I made at "Granny's Attic" and Craigslist.
f) Don't read any catalogs, or watch HGTV or go to the home decor section of department stores. Just don't.
f) How much home decor do you need? Once you have a place to sit, a table, good lighting and window coverings for privacy, do you really need more?

[Gardnr]

I always go and shop and look for bargains. I want to stop and start saving but how? Do you have savings and do you manage to keep it for a long time?

STOP this! No shopping=no buying. Don't look online. Don't look at advertisements. They have the goal of taking your money.

Do you have a budget? Do you track your expenses? (if not, read Your Money or Your Life and do the exercises).

To start right now this minute?

1. Put 10% of your take home pay in a savings account every pay day.
2. If it is not a MUST have, don't spend $ on it.
3. Pay bills first.
4. Put food on the table-be frugal about purchases and use every morsel.
5. Only dip into that savings if it is required to meet #3 or #4 above.
6. Do this for 90 days.
7. At 90 days: Reevaluate. Did you have to dip into the savings?
8. NO? How much is left over in your checking account?
9. Use that $. Pay off any remaining debt OR, put it into savings.
10. Continue for another 9 months in this manner reevaluating every 90 days.
11. At 1 year, evaluate how you're feeling.
12. Are you super proud and happy to have that savings?
13. Is there "stuff" you truly find a necessity that you should now go out and purchase from that savings account?
14. Are you now evaluating every single purchase?
a. Does it make me happy?
b. Do I need it?
c. Do I use it?
d. Do I regret it?

Once you become mindful of every penny and what those pennies can do for you over the long-term, being mindful will become normal for you.

Every financial change begins with that first penny, that first 'no, I will not purchase this', 'no, I do not need this', 'no, this will not improve my life'.

We did this. We did not enjoy the journey but we were committed to the principles. And we are so happy with the results of paying off mortgage, paying cash for anything we need (including a car, an AC/Heat unit) AND most of all, fully funded retirement accounts 24years after starting this journey.

YOU CAN DO THIS!!!!!!!!!!!!!!!!!!!!!

[nswef]

Great post, Gardnr. That's how we did it and are now enjoying a wonderful care free retirement.

[pinkytoe]

Auto savings deducted monthly have been my saving grace. Even a small amount is something and most likely not even missed. I just consider saving money like a regular expenditure as I am paying myself. As far as home decor goes, I keep a small notebook in my purse at all times with lists of what I am looking for (shape, size, color, etc). If I am in a thrift store or near a store that might carry what I am looking for, I will pop in and see if they have it. I rarely make dedicated trips to buy things like home decor and I mostly window shop online to get ideas but not purchase.

[happystuff]

Great posts/suggestions! It took me a while but I figured out that the best way to save money is simply to not spend it. Good luck!!!

[Rogar]

Great suggestions. First thing I would is keep track of my spending in detail. I found some holes in my wallet where I was spending more than I'd guessed on trivial things and impulse spending

[libby]

When it comes to decorating I always shop my own house first. I will move plants and other decorating items. I will rearrange the furniture. A change that way can work wonders.

[Baldilocks]

My sugestion is to grocery shop at places that only sell groceries. If You shop at a store that sells everything under the sun, you will find something you didn't go in to buy.

[messengerhot]

Thanks to all your responses! I would take note of those things. Probably, the first thing I should do is to sort out my priorities. Staying away from shops that could be tempting is a good idea.