Dave Ramsey Book Winner + Awesome Budgeting Tips!
My favourite tip is to treat every dollar as if it were one hundred. Having respect for your money is a great start to any budget.
The best budgeting tip in my book should be the most obvious; spend less than you make and live within your means.
If I don't have the money for something, I don't buy it, and I don't buy it new if it can be found used. If it's something I really need, I save for it. For me, it works best not having a credit card, but a debit card.
This wouldn't be as successful for me if I didn't have an emergency fund. There is finally $1000.00 there, and once I've got more debt cleared, I'll work on increasing that.
For motivation, I also have been keeping a list of any debt, and as each was paid off, added it to a grand total. Very inspirational for me to see the total amount of debt I've paid off increasing, and what I have left getting smaller & smaller (just my auto and house now). Helps me keep going!
I think it's important to really think about a purchase before you make it. Learning the difference between an need and a want was one of the most important frugal lessons. Also, I try to fix something before I throw it away or find another use for something, like using old shirts with stains as rags for cleaning.
I have my paycheck direct deposited and I'm lucky enough to be able to split it between two accounts. My bill money is direct deposited to my checking account and all the rest is direct deposited to my savings. I have no chance to spend it and once it's there I don't like to take it out.
My tip is definitely the envelope system for gas, groceries and my 'blow' money. I have found that it keeps me from using my debit card, which in turn, allows me to save more. I use Dave's zero-based budgeting concept, and when it's all spent, it's all spent. It makes me think long and hard about my expenses for the month, and what is important and what I can skip.
Katy Wolk-Stanley
"Use it up, wear it out, make it do or do without."
I just had to share this tip I just learned yesterday- after a quarter century of grocery shopping! When a store offers 2 for $5 or 4 for $3, or whatever the case may be, you don't HAVE to buy that amount! That's how they try to get you to buy more, but you can buy one and it will be worked out at that price. So if it's two loaves of bread offered for $5, you can still buy one loaf for $2.50.
I can't believe I never knew this, I feel silly. I always thought those offers were only good if you had a large family. Maybe this will help someone else who's been operating under the same assumption.
Good point Angela, but be careful at clothing stores with this. When Old Navy has a 3 for $15 you HAVE TO buy 3 items if you want that price. When you just want one or two of the on sale items they charge regular price of say $6.50 each. They also don't let you mix and max item kinds. Like if they have shorts and t's 3 for $15 you have to actually buy 3 t's and 3 shorts to get their supposed deal. Don't even bother asking if you can get 1 pair of shorts and say 2 t's. They'll say "no way". JC Penney and Kohl's don't let you either. While this system might work at grocery stores it doesn't typically work at department stores, sadly.
I've never had it to work at the main grocery store here.
Usually, if it's 3 for 6, if you don't get all 3, the price then goes to 2.50 or something like that.