Ways to Save Money & Live Frugally

I'm always looking for ways to save money. I was hoping that everyone would be open to sharing ways they've been able to save money. Perhaps some of us may learn about things that had never occurred to us before:

Here are a few things we do in our family:

-buy clothing at Goodwill/thrift shops
-pay auto insurance bill as lump sum
-eat out rarely
-negotiate medical bills for discounts if paid in one lump sum
-buy generic medicines
-make our own laundry detergent
-buy own modem for internet service to avoid rental fee
-buy older, used cars in good shape rather than newer flashier ones
- heat with pellets instead of oil

 

O.K. I am ready for the backlash, so here it goes.
things you do not need and pay dearly for.
cable/satellite tv, I do not pay for it
cell phones, mine dials and receives calls , period. yes I run a million dollar a year business with it. "kids" do not need them.
new cars
anything with a designer logo on it
sit down and REALLY eliminate what you want versus what you need and you will only spend half of what you spend now.
I know I am not realistic according to the world.

 

I don't know why, but that is just a great quote!

We ditched cable after the 2nd year of paying for garbage content. People see the firewood and lack of cable and think we are nuts.

Nice thread @Dana B.

 

Garden, burn wood, limited eating out, wife cuts my hair, drive old cars, canning, planting fruit trees and bushes, don't carry a balance on credit cards and no loans, fix as much around the house myself as possible, invest in low cost mutual funds and don't pay a financial adviser,

This sounds funny, lately I have tried to watch how much shampoo and shaving cream I use. I never paid much attention and would pour out a big blob of shampoo or shaving cream, now I use just what I need.

 

Have to admit...You guys are right!! Just told the wife the other day that we are idiots for paying hundreds of dollars a month for cable and cell phones!

And IP...You probably didn't really need that fancy patio and pizza oven!! LOL

 

I forgot about the cable TV. We cancelled ours about 3-4 years ago.

While the money saved was nice it wasn't our primary reason. We were sick of sitting in front of the TV watching mind numbingly idiotic shows and being brainwashed by the so called "news" being offered by the corporate mainstream media. We'll watch a documentary or an episode of Magnum PI or Newhart occasionally online but since getting rid of cable we spend more honest to goodness quality time with the kids and get more done around the house.

As ironphony hinted at.......most people don't understand need vs want. Personally I think it's a pretty poor reflection of our society that so much of our happiness and sense of self worth is sought through our material possessions.

 

Since most shampoos, toothpastes, face creams etc etc come in thin plastic bottles or tubes you can usually cut those bottles and tubes in half and with the amount of product remaining inside that was previously inaccessible by squeezing you can get another half dozen uses. You paid for it, you might as well use it all.

 

Good ideas. I'm with Jack on cards. Only use a credit card if you have to, not as an instant "loan". Pay the monthly bill completely, every month, or don't have any credit cards at all. Look into credit unions instead of banks for all of your banking needs. Pay off loans as soon as possible, or no loans at all.

As far as cell phones, TV and internet are concerned... many of us here grew up with none of these. We didn't even know we missed it. Even today, we can easily live without them. That's a total of around $200 month, at least, saved. Around here, some could save more by actually taking their own garbage bags to the transfer station each week instead of paying for street side service. Imagine that...

 

My honey saves the slivers of soap and puts them all in a plastic ziploc bag inside the original soap box.

 

One thing to do with the credit cards. Not carrying a balance is best but it also might help to call card companies up a couple of times a year and ask them to reduce your rate. It's been my experience that as long as you're in good standing they'll do it about 50% of the time.

Another big way to save is on your mortgage. Most people have a fixed rate 30 year mortgage. If you play with the amortization table it's amazing how much you can save over the long term on interest (if you see the loan through term) by making some extra payments as soon as possible in the mortgage as it shifts that interest to principal distribution in your favor.

 

Shop online with free delivery or have the item delivered to the store. I live way out and instead of driving all over kingdom come trying to find an odd item, I get it online. It is usually cheaper online too.

Shop in July/August. You won't believe how much you can save on end of season (clearing the shelves for Christmas) and "back to school" items (even though I am a grownup some of the items still apply). I got a killer deal last year on a laptop.

Buy from the real Amish and Mennonites. The ones off the tourist loop grid. Their stuff is super cheap.

 

We eliminated Satellite TV and my wife's work pays for out internet, We joined up with 6 other people to get our cell phone bill down to <$100 a month for unlimited data on two phones, cancelled out home phone, Plant a garden and can, Hunt deer, purchase a cow and pig from a locally grown farmer friend and split it 4 ways with other couples, heat with wood, Pay lump sum on auto and home insurance to get a discount, make our own laundry detergent and I"m sure there is other stuff but I can't remember everything lol

We also buy and pay every bill we can on our credit card and write it out of the checkbook just like it's a debit card and then pay the bill off every month in full. We were able to earn over $2000 dollars cash back on our best year just for doing that and it was all money that would have been spent anyhow on necessary items. I know a lot of people don't like credit cards but if handled well they are a tool just like anything else.

 

Negotiate cash discounts
Buy food in bulk and repack in quantities used at 1 time
Garden
Can foods
Don't eat out
Only buy what is on sale that week (grocery) and make it work. I shop at 4 stores a week doing this.
Get a deep freezer and pack it
Keep cash handy and buy used items you know you can sell for profit.
Split purchases when able with friends or family (splitter, tiller, etc)
Barter barter barter
Hunt or raise meat instead of buying
Pay extra on mortgage monthly
Drive vehicles until they blow up
Have a gas saver car if you also have a truck

 

I am going to try Dana B's suggestion about the medical bills--never thought of that before!
I do have a cell phone--ditched Verizon last year because my limited, non-long distance landline phone bill kept creeping up every month. I now have a tracfone, buy 400 minutes for the year at triple minutes (1200), comes to about 16 dollars a month. This doesn't work unless you live alone and don't "yap" a lot.
I already do most of the stuff mentioned above. Credit card is only used for online purchases, and when I have to use it, and is written down with my check register.
I plan all my trips out so that I can do everything in one trip. I don't go riding around anymore, though I miss that.
I live in a small house, have it well insulated, and only turn on lights in the room I am in--sometimes not even then. I don't waste water, and use the dehumidifier water for laundry.
I fired my trash hauler last year, and take my trash to the dump myself every couple of weeks. I can do that because I compost most of my kitchen waste, and recycle paper and other stuff--my county doesn't charge to dump that.
Above all, I try to do what I was told 50 years ago--no matter how much you make this week, save SOME--even if it is only $5 a pay.
And once my car is paid for, I still make payments--to my savings account.

Keep these hints coming, I need more!!

 

Switch to streaming. Many tv shows, movies, and sports programming can be found online for free or for way cheaper than cable.

 

I love tv not getting rid of mine. I fix almost everything I have. I search CL for deals that I can flip for money I save pickup and haul scrap metal. I will do just about anything g for money. I have a prepaid cell phone that is a smart phone its $35/month vs at least 2x that much for the big companies.

I buy stuff and flip it selling on ebay.

I reload my own ammo for mega savings.

I did laundry detergent onetime the recepie I used did not really save money and do not really clean chlothes as well and due to cold water we use did not melt the ivory soap shavings. We just buy it..really not that muchmoney.

Set the thermostat warmer. I heat with wood. Only use lights we need in the house.

 

We had cable the first year we were married only. We will celebrate our 24th anniversary in two weeks. We have an old TV with a VCR and CD player in the attic that we occasionally watch movies on with the kids.

This year starts our 17th season of homeschooling. We needed the Internet as part of their curriculum and all three of my kids have jobs so cell phones are used to keep track of everyone.

Homeschooling has saved us a lot of money over the years. Five or six years ago, in late August, one of my patients asked me if we were done with our back to school shopping. I had never thought of it but we just don't do back to school shopping, other than ordering books for our home schooling curriculum. No need for backpacks, school clothes or shoes, etc etc etc. and the amount we have saved over parochial school tuitions would have paid off our house over the last 17 years.

We live a frugal life otherwise, don't use credit cards, etc.

 

I pay bills on CC card as well to get savings then pay off each month. I always wonder when the folks at store see me charge $3 , do they think I carry a massive balance? But you get cash back. Why not make CC your friend earn that money that the idiots pay them in interest!

 

I havent paid for a haircut in 17 years I think..and I am only 32!! I think I have bought 4-6 sets of clippers and shave my own head. Way cooler as well and dont have the awful hair styles that most men have these days.

I shop on amazon and ebay and compare them for the cheapest source..but everything I can I buy on amazon with free shipping and save almost 100% on most stuff.

 

Oh another one dont go one crazy and extravagant vacations... why not save the $2-5k dollars that some spend yearly on vacations???

We can't afford them anyway but would not buy them anyhow.