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Thread: In an Economic Crises, How Do You Save Money? :)

  1. #1
    Join Date
    Nov 2009
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    Victoria
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    Default In an Economic Crises, How Do You Save Money? :)

    Some of the fun ways me and mum try to save money include:

    *Making a new shelf out of old planks and Bricks. Then we paint fun things on them and put a coat of that clear paint stuff on top.

    * I may DIY skincare and hair products, but keep them in the pretty bottles so I'm not tempted to go waste forty dollars on a hair rinse.

    *We let the cat drink water out of the bottom of the bath. Just kidding! But he does do that.

    Has anyone else come up with fun or creative ways to keep costs down?

  2. #2

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    Make a list of all of your regular monthly expenses, including any money that you spend on fun things like eating out, entertainment and hobbies; and any minimum payments that you have to make towards your debts. You can use a budget form for this purpose if it makes the job easier.

    Total your earnings.
    Calculate how much you make per month, including any money that you receive from investments and other forms of residual income.

    Subtract expenses from earnings.
    Test out the effectiveness of your budget by subtracting your monthly expenses from your earnings. This will show you how much you can expect to have left at the end of the month.

    Rework your budget.
    If your budget comes out on the negative side, rework it until your numbers crunch. To do this, go back over each expense, and look for places to make cuts.

    Build in money for debt reduction.
    If you have debts, your budget should already include the minimum payments that you have to make each month. Now you need to find the money to pay down those debts. Look at your numbers again, and determine where you are willing to make sacrifices to get out of debt.

    Build in your savings and investments.
    Now it’s time to budget money for your financial goals. Do you want to have an emergency fund? Retirement investments? Vacation savings? Make a list of what you hope to achieve, and then survey your budget once more to find the money that you need to reach those goals. If you have a lot of debt, you may need to skip this step for a while, and that’s okay – debt reduction should be priority one.

    Put your budget to work.
    Once you’ve created a budget that covers all of your monthly expenses and financial goals, it’s time to put your budget to the test. Try to live within your budget, and see how it feels.

    Assess your budget.
    At the end of each month, look over your expenditures to see if they are matching up to your budget. If they aren’t, determine if you need to work harder to stick to your spending plan; or if you need to rework your budget to reflect your actual spending.

    Assess and assess again.
    A frugal budget is never finished. Continue to look over your budget every month to catch areas of overspending. Then, crunch the numbers again until you’ve made it right.

    Tips:
    Be honest about your spending habits, and you’ll end up with a much more realistic budget.
    Don’t forget to budget for fun; budgeting isn’t about total deprivation.
    Don’t be afraid to change your budget; a good budget is always evolving.

  3. #3
    Join Date
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    make my own lunch
    catch the bus into town
    make my own snacks.
    quit eating/buying takeaway
    quit buying coffee in town (quit going to town).
    collect abandoned jumpers and cushions and wash for dog bedding
    make own kennel (turned out to be more expensive than buying one - oops).
    umpire lots of hockey and get paid for it (covers that hobby, now how to get Frosty to earn her bikkies).
    join ski club (spend kids inheritance) - get parents to pay for everything.
    buy the same christmas/birthday present for my brother as he gets me. Nothing!

  4. #4
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    Quote Originally Posted by Hyacinth View Post
    make my own lunch
    catch the bus into town
    make my own snacks.
    quit eating/buying takeaway
    quit buying coffee in town (quit going to town).
    collect abandoned jumpers and cushions and wash for dog bedding
    make own kennel (turned out to be more expensive than buying one - oops).
    umpire lots of hockey and get paid for it (covers that hobby, now how to get Frosty to earn her bikkies).
    join ski club (spend kids inheritance) - get parents to pay for everything.
    buy the same christmas/birthday present for my brother as he gets me. Nothing!
    LOL I love your last one. The pillows is a great idea, I do that too. When one of my pillows is getting flat, instead of buying a new one I stick two flat ones in one pillow case cover

  5. #5
    Join Date
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    I have bugger all income to start with! Most of it goes on the dogs and horses, whatever is left over is for me and paying the bills.

    I lead a fairly simple life, but the one thing that kills is how much petrol I use, the shops are 40kms away, so I try to plan ahead, for instance if I have to go pick up or drop off a doggy boarding client in Sydney (100kms away) I'll do grocery shopping on the way there or on the way back, pick up dog food, horse feed etc. Saves me having to make a special trip just for one or two things.

    I never buy brand new furniture (apart from my bed or whitegoods) - either friends offer me their old sofas or I trawl ebay for a cheap suite. I've lost count of how many sofas I've been through in the last 4 years!

    In My Home Dog Minding
    www.greyhoundrescue.com.au

  6. #6
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    Nov 2009
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    WA
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    we got foxtel for the movies chanels. We were spending over 50 bucks at video store a week. So paying 116 a month is worth it.
    Im like u grey, i gotta travel 40kms to do a food shop. I write out two shopping list before i leave. I cut out the stuff we dont really need from the first list. It helps alot.
    We are pretty lucky that my fiance has a work car and we can use it on the weekends.

  7. #7
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    I look around this room, there's not a stick of furniture in it that was new when I got it. I love second hand furniture shops, and I pick up a lot of stuff when friends move house. Also helps with the environment - no manufacturing overhead on second hand...

  8. #8
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    Hehe I found a great way to save money today..well kind of...I bought the bf a wireless reverse parking camera for christmas, but the only way he could install it was by drilling a hole in his bumper bar which he didn't want to do. So we returned it today, and he saw one of those digital radios for half price so I bought that instead. Saved money coz it was $70 less than the camera - fantastic!

    BUT then I said I would take it home to see if it worked at my place, which we both thought unlikely as I don't get mobile reception, or broadband, and I get really bad radio reception.

    WELL! To my utter surprise and delight it works perfectly! I phoned him giggling hysterically, to which he said "I'm not getting my present back am I?"

    I told him he could have a spare alarm clock radio instead!

    MWAHAHAHAHAHAHA!

    In My Home Dog Minding
    www.greyhoundrescue.com.au

  9. #9
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    i am always in an economic crisis - because I spent it instead of saving it!

  10. #10
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    Quote Originally Posted by Devil's Advocate View Post
    i am always in an economic crisis - because I spent it instead of saving it!
    Lol good way to put it. Spend it on anything fun or just 'mum stuff?'

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