A new level of Frugality

Source:http://malaysiapersonalfinance.blogspot.com/2011/10/new-level-of-frugality.html
Frugality in Kuala Lumpur has just gone one level deeper.  A saving of about $550 monthly, a 2 hours exercise sessions for FREE and an opportunity to explore natures within the city has just been proven recently with just ONE simple ACT !  As everything goes, there is some trade off or 'risk' too ...

Its Cycling To Work !

Mathew was a guy who suffers from a terrible 24.3% inflation in 2009.  After he started to follow this blog, he has learned a trick or two to keep things going smoother.  Today he is working as a top executive in a public company but situation hasn't changed much.  He is still in middle level income group.  After his 5 figures income divided by the number of people he has to support, his actual cash-at-hand per person monthly is much less than average personal income ie. $1,500.

Many staffs who worked for Mathew always complains about how tough their lives are and demand a salary increment without extra performance to the company ( while their single income is about $1,500 as well).  Mathew thinks it was obvious his staffs weren't educated well enough in personal finance so he decided to role model to show a point - live frugally.

He used to drive about an hour to work, commute about 22 km and then spent about $10+ for parking fee.  Now instead of doing all that, now

He cycles to work

After the decision was made, he first bought a huge term insurance to cover this temporary needs.  After all, he doesn't want his teaching to his staff to affect his even more important loves to his families.

Once the insurance is approved, he started cycling to work.  It wasn't easy.  He first followed his driving route.  It was dangerous as cars and motorbikes are cruising fast by, ignoring his existence.  But the good thing about cycling . . . is that its both a pedestrian and a driver.  So very soon he found a much shorter and safer path, only 12.1km instead of driving 22 km away.

It took him about one hour to cycle to work.  ( Above 2.5 hours was for walking time )  So practically this doesn't affect any of his schedule at all.  As a matter of fact, this improve the stability of his schedule.  Even when there is an unexpected traffic jam which would cause a normal 1 hour driving to 2-3 hours, his cycling time remains the same as 1 hour.

Mathew also lost 6-8kgs since then, has a much tougher built body now.  He used to pay a lot joining fitness centers etc. but never got the time to actually exercise because he is a workaholic.  Now he HAS TO exercise 2 hours a day.

Mathew also started a health diet to eat more veggie and fruits even before this cycling idea.  Thanks to this cycling exercise, his cycling route passed by a local market at Chow Kit ( one of the oldest and largest wet market in Kuala Lumpur ), he now manages to buy 5 star fruits for only $1, which fuel his breakfast and lunch.

There are much more indirect benefits he received since he started cycling to work.  But as everything goes, there must be some Cons that comes with the Pros. Should one accident happens during his cycling commute, it would most probably cost him his life.  While he was well aware of the risk, he took action to insure against that rick and he also find ways to improve his own skills and awareness to maximize his own safety.

There are quite a lot of tips and tricks he has developed since he cycles to work.  If you were moved by this article and wanted to try this too . . . be warn ahead, there is some risks involved.  Do spend some time to buy me a cup of coffee so I can share with you whatever those tips and tricks are so that you can minimize your risk and maximize your return / saving / investment.

	Driving	Cycling
Time	1 hour	1 hour
Petrol	$10 per day	$0
Parking	$5 - $10 per day	$0

I am just glad living frugally in a city like Kuala Lumpur has just gone one level deeper.  With tons of other extra benefits and with only ONE major risk that a person who really cares can mitigate easily with skills and experience.

Have you managed to find any innovative ways to cut your expenditure or increase your saving by 25% !?

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7 Spending Tips From Frugal Billionaires

Source:http://finance.yahoo.com/banking-budgeting/article/110550/tips-from-frugal-billionaires?mod=bb-budgeting
Carlos Slim Helu (Carlos Slim), a telecom tycoon and billionaire with well-known frugal tendencies, has a net worth of $60.6 billion, according to Forbes. Assuming no changes in his net worth, he could spend $1,150 a minute for the next 100 years before he ran out of money. To put this in perspective, he could spend in 13 minutes what a minimum-wage earner brings home after an entire year of the daily grind.

Granted, the world's billionaires (all 1,011 of them) are in the debatably enviable position of having, quite literally, more money than they can possibly spend, yet some are still living well below their means, and save money in surprising places. Even non-billionaires (currently 6,864,605,142 of us) can partake in these seven spending tips from frugal billionaires:

1. Keep Your Home Simple
Billionaires can afford to live in the most exclusive mansions imaginable -- and many do, including Bill Gates' sprawling 66,000 square foot, $147.5 million dollar mansion in Medina, Wash. -- yet frugal billionaires like Warren Buffett choose to keep it simple. Buffett still lives in the five-bedroom house in Omaha that he purchased in 1957 for $31,500. Likewise, Carlos Slim has lived in the same house for more than 40 years.

2. Use Self-Powered or Public Transportation
Thrifty billionaires including John Caudwell, David Cheriton and Chuck Feeney prefer to walk, bike or use public transportation when getting around town. Certainly these wealthy individuals could afford to take a helicopter to their lunch meetings, or ride in chauffeur-driven Bentleys, but they choose to get a little exercise and take advantage of public transportation instead. Good for the bank account and great for the environment.

3. Buy Your Clothes off the Rack
While some people, regardless of their net value, place a huge emphasis on wearing designer clothes and shoes, some frugal billionaires decide it's simply not worth the effort, or expense. You can find David Cheriton, the Stanford professor who matched Google founders Sergey Brin and Larry Page to the venture capitalists at Kleiner, Perkins, Caufield & Byers (resulting in a large reward of Google stock), wearing jeans and a t-shirt.

Ingvar Kamprad, the founder of the furniture company Ikea, avoids wearing suits, and John Caudwell, mobile phone mogul, buys his clothes off the rack instead of spending his wealth on designer clothes.

4. Keep your Scissors Sharp
The average haircut costs about $45, but people can and do spend up to $800 per cut and style. Multiply that by 8.6 (to account for a cut every six weeks) and it adds up to $7,200 per year, not including tips. These billionaires can certainly afford the most stylish haircuts, buy many cannot be bothered by the time it takes or the high price tag for the posh salons. Billionaires like John Caudwell and David Cheriton opt for cutting their own hair at home.


5. Drive a Regular Car
While billionaires like Larry Ellison (co-founder and CEO of Oracle Corporation) enjoy spending millions on cars, boats and planes, others remain low key with their vehicles of choice. Jim Walton (of the Wal-Mart clan) drives a 15-year-old pickup truck. Azim Premji, an Indian business tycoon, reportedly drives a Toyota Corolla. And Ingvar Kamprad of Ikea drives a 10-year-old Volvo. The idea is to buy a dependable car, and drive it into the ground. No need for a different car each day of the week for these frugal billionaires.

6. Skip Luxury Items
It may surprise some of us, but the world's wealthiest person, Carlos Slim (the one who could spend more than a thousand dollars a minute and not run out of money for one hundred years) does not own a yacht or a plane. (Reducing the amount you spend is the easiest way to make your money grow.)

Many other billionaires have chosen to skip these luxury items. Warren Buffett also avoids these lavish material items, stating, "Most toys are just a pain in the neck."

What We Can Learn
Some of the world's billionaires have frugal tendencies. Perhaps this thrifty nature even helped them make some of their money. Regardless, they have chosen to avoid some unnecessary spending (at least on their scale) and the 6,864,605,142 non-billionaires out there can follow suit, eliminating excessive, keep-up-with-the-Jones style spending. No matter what a person's income bracket is, most can usually find a way to cut back on frivolous spending, just like a few frugal billionaires.

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Warning: Are Any of These 5 Things Keeping You From Being Frugal?

Source:http://moneyning.com/frugality/warning-are-any-of-these-5-things-keeping-you-from-being-frugal/#more-5723
Making do with what you already have is a time-honored way of frugality, and a great way to avoid having so much stuff you lose track of what you have.

There is nothing worse than thinking you’ve found a great deal on something you need, only to find out a few weeks later, you already had a perfectly good one at home. I’ve learned this the hard way many times. I can’t tell you how many times I had to smile sheepishly at my husband and admit that yes, I’d bought a duplicate, and no, we couldn’t return it because I didn’t discover it until too late.

That kind of waste is far too expensive to continue unchecked.

De-cluttering is not only a great way to keep your home nice and tidy but it allows you to take note of what you already own and make a list of what you truly need. You can also make some extra cash by selling things you no longer use or donating them and then taking a deduction from your taxes.

For example, my four youngest children are all boys so we have tons of clothes for them, much of it things waiting for somebody to grow into. My problem was I never knew what each child already had for the upcoming season and would go crazy at sales, only to find that the child in question already had 30 tops but not a single pair of nice pants.

Now, instead of shoving things in containers and tossing them into the attic every season, I sort by sizes and take notes on what I’ll want to look for at sales, thrift stores, yard sales and so on.

I’ve also discovered that by organizing my bookshelves, I find at least a half-dozen unread books every time. This makes it easy to place myself on restriction from buying anything more until I’ve read what I’ve got (this is a lot harder than it sounds).

My pantry is also a problem area, so every so often, I’ll go through and make a point to use up those cans and boxes lurking in the back before I go grocery shopping again.

Even the most frugal person has one or two purchase categories where they tend to accumulate more than they need, so it’s a good idea to periodically take the time to de-clutter and take an inventory.

While de-cluttering you’ll want to:

1. Decide what to do with duplicate items. Do you really need two or more of the same or remarkably similar item? You don’t necessarily have to get rid of the extras, but if you know you already have five black shirts, it helps you resist the temptation to buy a sixth, even at 75% off.

2. Weed out broken items. Is it practical to repair? If not, get rid of it. Odds are good you’ve been able to live without the item so think twice about replacing it.

3. You’ll also want to get rid of things you simply no longer use or want. It’s tempting to want to keep them around just in case, but if it’s been a year or longer since you’ve used it and it’s not an heirloom or fire extinguisher, go ahead and let it go. Unneeded possessions multiply the chaos in our lives.

4. Make a list of things that you’ll need and keep it in your wallet or purse. This will help you in two ways the next time you’re out shopping. You’ll have a list of things you need to buy and conversely, you’ll know you don’t need things not on the list. I’ve also found that knowing what my family needs makes it easy to answer when asked questions about what gifts to get the family.

5. Organize your things in a way to simplify finding what you need when you need it. It’s no good knowing you already have needle nose pliers or a polka dot bow tie if you can’t find them!

Being frugal means being smart with the resources you already have. By taking the time to sort and inventory what you own, you’ll be more capable of making purchasing decisions and making full use of what you have.

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Personal Finance For Beginners: A Lesson From Oseola McCarty

Source:http://www.enemyofdebt.com/
So many people are intimidated by the concept of managing their money. It almost seems as if the very idea that we can be in control of our money is just a made up fairytale that only a few get lucky enough to take advantage of. Many believe that wealth is out of their reach and only something the top money earners get to experience. The myth is that you have to earn a lot to build wealth.

I would like to introduce you to a woman who rejected that notion. Her name is Oseola McCarty, and she is a real inspiration! You see, Oseola didn’t earn her living as a doctor, a lawyer, or even a teacher, although her example can teach us much. She was just a hard working African-American woman with a sixth grade education, who happened to make a living washing and ironing other people’s clothes, a profession that she did for about 75 years until her arthritis forced her to retire. (at the age of 86 years old!!)

The advantage that Oseola had over society today, was that she was taught and believed greatly not only in herself, but also in the tremendous benefit in saving money. She started making only $1.50-$2.00 a bundle, but sometime after the war, because of inflation she charged $10 a bundle. The point is that she just started saving with no excuse in the world concerning how little she made. In her own words:

“I put it in savings. I never would take any of it out. I just put it in. It just accumulated.”

Here’s where the story gets better, and by better, I mean absolutely inspiring!! By the time her arthritis forced her to retire she started speaking with her bank about the importance of where she wanted her savings to go when she passed away. The trust officer of her bank brought over 10 dimes, to represent percentages, and asked her to divide up the dimes according to where she wanted her money to go.

Oseola McCarty, in July 1995, had saved $280,000, by saving what she earned washing and ironing clothes!

She gave her church 10%, divided 30% between relatives, and gave an astonishing 60% ($150,000) to Southern Mississippi!! This just goes to show that people who build wealth often have generous plans for what they will do with that wealth. Some people may be greedy, selfish, money hoarding losers, but most give very generously when the time comes to do so. Her sole intention was to help give deserving students in need, a way to get the education that she never received.

Ladies and gentlemen, this is the kind of role model our children need. Not somebody with athletic ability and talent, not musicians, but a woman like Oseola McCarty, who proves that it’s not about how much you make, it’s about what you do with what you make that counts. Are you managing what you make as best you can, or are you constantly complaining about the fact that you don’t think you make enough to save?

Oseola had what most would consider a very poor income. It’s probably safe to say that she made much less than what’s considered to be poverty level. She made better decisions with her money than most people are making today, which would include those with great incomes and those with poor incomes. She died at the age of 91 from cancer, and was never a financial burden to anyone. If anything you could say she blessed those students that would benefit from her many years of hard work. I just hope that any of the students that were deemed deserving, realized what it took for a poor woman with no education to make that happen for them. She is proof that you don’t have to be a millionaire, or have a high paying salary to make an impact on others!

Here’s how Oseola McCarty managed to save an unbelievable amount of money, and to give so much of it away. It’s so simple a child can understand it!
THE BASICS

* She lived beneath her means!
* She saved money until she could buy something outright!
* She avoided paying interest!
* She saved for the future!
* She invested over time!
* She worked hard at something she enjoyed!

Something Oseola NEVER did, was own a single credit card her entire life! No matter where you are in life right now, you would be wise to take note of this wonderful example. Not only in her financial success, but also in her humility and wisdom. Oseola was the kind of human being that I strive to be! What examples and role models are you holding up for your children? Are they anything like Oseola McCarty? Better yet, are you anything like Oseola McCarty?

Even if you’re not, and may have a long way to go, it’s not too late to turn your life and your habits around. Let this post, and the life of Oseola inspire you to push yourself a little harder at doing what you know you should be doing anyway! Personal finance is not something to be scared of, it’s something you should embrace as if your life depended on it, because guess what—IT DOES!!

Oseola McCarty, this post is dedicated to your loving life and memory!

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Review: The New Frugality

Source:www.thesimpledollar.com
The title of this book hooked me from the start. What am I writing about at The Simple Dollar if I’m not writing about “the new frugality”?

Chris Farrell, the author of the book, is a name I’m familiar with having been a long-time faithful listener of Marketplace Money (and it’s other Marketplace brethren) on NPR. I expected a well-written book that offered lots of insightful thoughts on the “new frugality” along with some practical tips.

That’s precisely what I got. Let’s dig in.

1 | The Rise of the New Frugality
Farrell opens the book by making a strong effort at defining what “new frugality” means. I think it’s best summed up as “seeking the best value, not the lowest price.” Quite often, frugality has meant the same thing as cheap, but the “new frugality” means something different entirely. It means finding ways to preserve exactly what’s important to you while minimizing the costs, with costs going far beyond just dollars and cents. The cost is about the environmental impact. It’s about the time impact. It’s about even the emotional impact. Really, the new frugality is simply being mindful of the many ramifications of the purchasing decisions we make.

2 | The Great Transformation
How did we get here? This chapter is basically a history of modern consumerism, particularly focusing on the housing bubble of 2008 and the rise in environmental and social awareness of people over the past decade. Farrell’s argument seems to be that the current economic stagnation along with a growing sense that our actions have ramifications far beyond ourselves add up to a new attraction to frugal, simple living for people. I can’t argue – I largely feel the same way.

3 | A Margin of Safety
What’s the result of all of that uncertain feeling? People have begun to desire a margin of safety – something many of us felt naturally until the events of the past decade have shaken that sense of a margin of safety right to our core. How do we get back that sense of a margin of safety? By living within our means and preserving the resources we have – but without abandoning many of the enjoyable perks of today’s life. We seek a balance that wasn’t there in the Depression and wasn’t there in the spend-spend-spend 80s and 90s.

4 | The New Frugality Rules
Keep it simple. Pay yourself first. Invest in yourself. Worry about the downside. Borrow rarely and wisely. Give back. These are the new frugality rules that Farrell proposes – and they pretty much describe a financially stable way of life that maintains that balance we all strive to have. I think the first one is key – keep it simple. The best way to do that is to make all of your saving as automated and straightforward as you possibly can, making it easy for you to make do with what’s left.

5 | Make Frugality a Habit
One big way to make all of this work is to simply make frugality a part of your everyday life. The best way to do that is to simply start being mindful of every dollar you spend. It’s fine if you want to splurge on yourself sometimes – that’s not the point. The point is to think about it first. At the same time, think about what you’re buying at the grocery store or when you go out to eat or anywhere else. Farrell offers tons of ideas on reducing your spending in sensible ways, but they all boil down to this one basic idea: think about what you’re spending and why every time a dollar leaves your account. The more you think about it, the more you’ll likely realize there are better ways of doing it that achieve the same result for lower cost. When you find those routes, that’s nothing but a big victory for you.

6 | Borrow Wisely
The best debt is no debt, of course. When you do borrow, however, make sure you’re borrowing to pay for something that will generate value (like an education) or will at least retain it (a sensible home purchase – meaning not a McMansion in a large metro area). Also, always borrow only when you have a margin of safety – in other words, don’t borrow money when you’re already hurting to pay your own bills and you don’t have any savings in the bank. There’s also a discussion about setting up your own debt repayment plan if you’re already under a heap of debt.

7 | Investing the Simple Way
The investment advice here is pretty straightforward. If you have a 401(k) available to you that offers a company match, jump onto that and get every drop of that match. If you don’t, get a Roth IRA. Put at least some of your money into something safe, like CDs or possibly treasury notes. If you want to take on more risk, buy some index funds – they’re low cost and help you to diversify your money very widely. Use dollar cost averaging – in other words, set up a regular automated investment plan that puts a certain amount into your investment every month.

8 | Live Long and Prosper
This chapter has the most honest answers about retirement I’ve ever read in a personal finance book. Farrell simply says that there’s no way to know if you have enough set back for retirement – and you don’t. No one knows when or how their number will be up. How can you save, then? Your best bet is to save as much as you possibly can. Then, when you retire, rediscover the simple pleasures in life. It’s a lot easier to cook yourself an inexpensive but amazingly delicious meal at home if you’re not running back and forth to an all-encompassing career.

9 | Home, Sweet Home
Should you rent or buy? Much of this chapter focuses on this question. Farrell seems to point people towards the P/R ratio, which is the price of a home you would buy versus the cost to rent similar housing for a year. That ratio should be somewhere around 16 – if it’s higher, you’re probably better off renting. Most of the actual advice on mortgages is very solid – only buy when you have 20% down (unless you want to be hammered on the mortgage(s)), make a “thirteenth” payment each year by making half of a monthly payment every two weeks, and don’t worry about the myth of maintaining a mortgage for a tax writeoff.

10 | The College Sheepskin
What about paying for college? Farrell argues that an education is very worthwhile, but the premium paid for a degree from a prestigious school rarely makes up for the huge difference in tuition costs. In other words, the huge additional cost for a typical student to go to Harvard versus their local four year state school will likely not be made up for after graduation. Your best strategy, actually, is to control costs (unless you get very lucky with a scholarship). He also recommends using a 529 savings plan if you’re saving for your child’s future education.

11 | Generosity and Gratitude
The book closes with a look at charity and the “keep it simple” mantra applies here. Identify charities that match your values. That takes time, because for many of us, a lot of charities sound good. What’s important is to figure out our true purpose in giving. What is our mission with the money we give? Let that specific mission lead your giving and you’ll find that you’re truly building a better world.

Is The New Frugality Worth Reading?
What makes The New Frugality stand out isn’t the advice. For the most part, the advice in this book is the standard personal finance stuff that you can find all over the place. What makes The New Frugality stand out is the broader awareness of the writing, which brings the book to life in a unique way.

I enjoyed reading this book for many of the same reasons that I enjoy listening to Marketplace on NPR. It takes information that I could get anywhere and places it in a social and cultural context that not only brings the ideas into a new light, but also makes clear the connections between our money and the broader world around us in ways that aren’t always obvious.

I enjoyed it if for no other reason than it cast some new lights and angles on a lot of the ideas I already knew. That type of book is always a refreshing read.

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Minimalist Lifestyle

Source:http://frugalbachelor.blogspot.com/2009/08/minimalist-lifestyle.html
I learned last week that "simple living" does not really accurately describe what I'm searching for, a more accurate term would be "minimalist lifestyle". This term is not widely that widely used, and I think conveys what I want better. Here is what I see as the minimalist lifestyle:

Fewer Things:
Some people make the goal to fit all of their belongings into the trunk of a hatchback, a carryon, or whatever. These are all worthy goals. My personal thinking is to fit everything in my life into a 1 Liter zipper bag. There are fewer blogs about this topic than there ought to be. Most of the simple living blogs and decluttering don't really address this topic as thoroughly as I'd like. One of the classics in this topic is The 100 Things Challenge from Zen Habits.

Reducing Ownership:
I don't want to own anything, and anything I own requires maintenance, which in turn requires more things to own! Ownership is snowball. Think about it. If I own a car, then I also have to own some basic tools unless I want to have it to bring it to the shop all the time. I don't want to own the tools, or the car! Maintenance of a house requires a huge array of tools, which themselves also require maintenance (lawnmower, chainsaw, sprinklers).

One way to combat ownership is to rent. Renting my dwelling instead of owning it also includes maintenance of it, so it drastically saves on the amount of stuff I have to own. I also believe that unless I use something constantly it is more economically efficient to rent, because it can be shared, and used by other people. It doesn't make sense to own something I use once a year.

Stuff is getting cheaper to make due to automation in manufacturing, inexpensive labor due to globalization, and advancement in synthetic materials, so owning disposable things is one way to reduce ownership of things. Instead of purchasing expensive dishes which I have to wash and maintain, I can look at purchasing disposable versions.

Outsourcing Everything:
One of the advantages of outsourcing is that I can eliminate the ownership of some piece of equipment. If I send all of my laundry out, then I don't need to worry about the (maintenance, efficiency, costs of) the washing machine, dryer, detergent, fabric softener, iron & ironing board, and so on. I don't have to worry about the price of any of these things, and I just look at the price of the final bill, which I can compare to the other service providers, to see who's cutting the costs the most. It's someone else's job to worry about how to achieve efficiency, I am the boss and I just tell them to get the price lower.

I can also minimize the number of skills needed to function. Who has the energy to be able to understand how everything works any more? This seems to go counter to most expressions of "simple living" I have encountered, which are more about living in a self-contained island where you do everything yourself, live off the grid, and avoid contact with the outside world. That's the opposite of what I'm trying to do. I think I will be able to do much more with my life if I am not bogged down with the details of living every day.

Embrace Technology:
Generally speaking, technology make things easier to do, and enables all sorts of possibilities which were unimaginable before. A digital camera means eliminating a dark room and a cupboard full of smelly chemicals; a portable music player eliminates shelves full of compacts discs, vinyl records, and sensitive audio gear. This does not necessarily mean going off and purchasing a bunch of gadgets. I like to learn how people in developing countries use technology; for example, in many countries people can't afford to use their own computer so they use shared computer in an internet café and put all of their own stuff on a flash memory device which they take with them.

Minimize Commitments:
There are 6.7 billion people on the planet so for whatever it is I want done, everywhere there is always someone willing to do it. There are quadruple the number of people as a century ago, and it is also is far easier to connect with them than it was before. Commitments are messy when they end (lawsuits and fights) so one alternative is just to avoid getting into them. This is more realistic proposition than a decade ago. Technology has revolutionized human relationships. People who I develop friendships with in the real world (such as in school, or neighbors, or while traveling), I can move anywhere and still keep in touch. Also for more specialized interests I have, I can reach out and meet people regardless of where they are.

Also I want to stay healthy enough so that I don't need to take any medications (I learned this one from Jacob @ ERE). I want to avoid being dependent or addicted to anything. Also, I think it is a good idea to avoid developing a taste for 'weird' things, such as only being able to eat some sort of exotic Japanese fish which is only available from one store on the USA West Coast. I want to be able to sleep on the floor of a noisy bus station, instead of requiring an expensive mattress. I don't want to special order my meals, I just want whatever's on the menu. People are too picky. By keeping my mind open, I can be happy with whatever is available.

Why this is all appealing to me ...

Increased Freedom - I want to be able to get on my horse and ride off into the sunset whenever I get bored, or feel like it. This is easier to do if I can pack everything I own quickly, keep in touch later on, and don't have commitments to sever.

Increased Choice - I want to be able to live anywhere. I want to be able to hit the ground running wherever I land. The amount of adventure and possibilities on this planet is amazing, minimalist living makes it easier to move and to take on any activity without less important things getting in the way. I see this as a key difference between simple living, which seems to value reduced choice.

More Frugal - most (not all) of the lifestyle choices I'm thinking result in spending less money. This means ability to work less for shorter time and enjoy life more.

Less Worry - Maybe not less, but redirected to more important things, to the bigger picture. The only way to eliminate worry would be to withdrawal from life. But instead of worrying if I'm paying too much for groceries, I can instead worry about how I'm going to conquer the world.

Risk Aversion - I'm spreading my risk around, so I'm not tying my life to one building, one person, or one country. If a hurricane or drought strikes, I can go to wherever there is a harvest.

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Control Impulse Spending with the 30-Day Rule

Source:http://www.getrichslowly.org/blog/2006/09/12/control-impulse-spending-with-the-30-day-rule/
I made a trip to Costco to buy business supplies last week. While browsing the software, I spotted the latest version of Quicken. I picked up the box and looked at the list of new features. I felt that urge creep upon me — the urge to spend. “Maybe the Mac version is out, too,” I thought. “I should stop by Fry’s to check.”

Then I thought of the $50 it would cost to upgrade. I thought how Quicken 2004 has served me well for three years. I began to have doubts. “I’ll use the 30-day rule,” I told myself. “If I still want this next month, I’ll buy it.”

The 30-day rule is a simple method to control impulse spending. Here’s how it works:

1. Whenever you feel the urge to splurge — whether it’s for new shoes, a new videogame, or a new car — force yourself to stop. If you’re already holding the item, put it back. Leave the store.
2. When you get home, take a piece of paper and write down the name of the item, the store where you found it, and the price. Also write down the date.
3. Now post this note someplace obvious: a calendar, the fridge, a bulletin board. (I use a text file on my computer.)
4. For the next thirty days, think whether you really want the item, but do not buy it.
5. If, at the end of a month, the urge is still there, then consider purchasing it. (But do not use credit to do so.)

That’s all there is to it. But it’s surprisingly effective. The 30-day rule works especially well because you aren’t actually denying yourself — you’re simply delaying gratification. This rule has another advantage: it gives you a chance to research the item you want to purchase. This can save you from grief.

For example, after returning from my Costco trip last week, I checked the reviews on Amazon. Quicken 2007 for Mac gets 1-1/2 stars! Yikes! Still, I added it to my wishlist. A month from now, if I still feel I need it, I may allow myself to buy it.

I began using the 30-day rule about two years ago. I don’t always remember to follow it, but when I do, it works well. Sometimes my urge to spend is gone by the time I get home. Sometimes the urge grows stronger for a week or two, but then subsides completely. It’s rare that I decide I need something after thirty days of waiting.

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An Easy Way to Save Money: Ask For a Discount

Source:http://www.moneycrashers.com/an-easy-way-to-save-money-ask-for-a-discount/
I know that I am much bolder when it comes to buying a car, furniture, a mattress, or other big-ticket items to haggle on price. But typically, I don’t have what it takes to get a good deal on a mid-priced item at a large retailer. One time, my wife’s father haggled the price of a microwave at Best Buy! Most people don’t think about haggling on price at Best Buy, but it can be done. It can especially be done at the Appliance section. The store clerks don’t make commission, but I am convinced that there is some kind of financial incentive for them. We bought a set of appliances two years ago, and by the time we left, we had about $300 knocked off the total price.

The formula is simple. ALWAYS ASK FOR A DISCOUNT! It never hurts to ask, and the worst they can say is NO. I’m preaching this to myself, because I am very shy when it comes to buying certain things. My wife is awesome at this. She’ll ask for anything. She wants to get a discount wherever she can. Some discounts are staring you in the face. If you see that the item has something wrong with it, or it has already been opened, you can typically get 10 to 20% off the retail price.

Be a frugal shopper. You’ll save thousands of dollars over your lifetime.

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Outwardly Simple and Inwardly Rich

Source:http://millionairemommynextdoor.com/2009/08/outwardly-simple-and-inwardly-rich/
It’s been my experience that frugality can run the continuum from miserly to magnificent.

When I was a child, I never went a day without a nutritious meal or a warm bed. Still, I recall times when I perceived my family as poor. In the school cafeteria, I furtively slipped my free lunch ticket to the cashier — with hopes that my friends wouldn’t notice that my family received government-provided financial assistance. When my father returned to college to earn his graduate degree, my siblings and I shared one crowded bedroom in a tiny apartment. I was teased unmercifully whenever my peers noticed the strips of fabric my mom sewed onto the bottom of my out-grown “high-water” pants to make them long enough to cover my ankles once again.

The most painful part of our family’s frugality, though, was when I overheard my parents argue about money.

At other times, I was aware that my parents purposely chose our frugal lifestyle — they voluntarily chose to live simply. Those were the best of times. “High-water” pants or not, our family was free from the handcuffs of Stuff. We used things up, repurposed them, and improvised. My parents were good role models for me in this regard.

As a young adult, I operated from a mindset of scarcity. I feared running out — or not having enough — of what I needed. After a year of struggling to support myself financially through college, I dropped out. I took another job: pouring coffee during the graveyard shift at a donut store. Many of my customers were homeless. They nursed one cup of coffee – all night long – to earn a warm spot inside.

One night, it dawned on me that I was one paycheck from becoming homeless, too.

I dealt with my anxiety by hoarding what little money I made. I shared rent for a one-bedroom apartment with three other young women and dined on free appetizers offered at local bars during Happy Hour. At that point in my life, frugality – emotionally speaking – was a defensive action.

“A miser is a person who is reluctant to spend money, sometimes to the point of forgoing even basic comforts. The term derives from the Latin miser, meaning “poor” or “wretched,” comparable to the modern word “miserable”.”

—Wikipedia

Over time, my fearful and hoarding behavior resulted in a medical insurance policy and an emergency fund. I had stashed enough to see me through a missed paycheck or two. But did I have enough? Would my future always include beater cars, cramped apartments and grocery coupons? Was I destined to earn minimum wage, doing a job I hated, forever?

“Frugality (also known as thrift or thriftiness) is the practice of acquiring goods and services at minimum cost, achieved via economical restraints or creative measures. Frugality can be related to the idea of being conservative or conserving money.”

—Wikipedia

Frugality continued to feed my savings account and in turn, my savings account afforded new opportunity. Consequently, I was able to become an unpaid apprentice to learn a new skill. After studying animal behavior and learning how to train dogs, I quickly landed a higher paying job. And I loved my work. As my skills, enthusiasm and reputation grew, I started my own dog-training business. Despite my increased income, I continued to live frugally. However, I made a point to shift my mental attitude of lack to one of abundance. The purpose of my frugal behavior shifted from reactive to proactive.

“To be healthy, wealthy, happy and successful in any and all areas of your life you need to be aware that you need to think healthy, wealthy, happy and successful thoughts twenty four hours a day and cancel all negative, destructive, fearful and unhappy thoughts. These two types of thought cannot coexist if you want to share in the abundance that surrounds us all.”
—Sidney Madwed

Today, rather than being driven by fear, I embrace the abundance in my life. I have enough. Rather than flashy opulence and keeping-up-with-the-Joneses behavior, my husband and I joyfully choose a lifestyle of voluntary simplicity. Duane Elgin, author of the classic book Voluntary Simplicity, defines simple living as:

“Living in a way that is outwardly simple and inwardly rich.”

From fearful and miserly to voluntary and magnificent, frugality has had a profound impact on my life.

Simple living (or voluntary simplicity) is “a lifestyle in which individuals consciously choose to minimize the ‘more-is-better’ pursuit of wealth and consumption. Adherents choose simple living for a variety of reasons, including spirituality, health, increase in ‘quality time’ for family and friends, stress reduction, conservation, social justice or anti-consumerism, while others choose to live more simply for reasons of personal taste or personal economy.”

—Wikipedia
May we all enjoy a magnificent and inwardly rich life!

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How to Make a Million Dollars While Eating Lunch

Source:http://millionairemommynextdoor.com/2009/08/how-to-make-a-million-dollars-while-eating-lunch/
In response to my last post, Would You Ditch A Car For $1,000,000?, a reader made the comment: “As a grad student in an urban area, I don’t have a car (nor could I afford one) and I use public transit. … I wish there was a “big ticket” item like that that I could easily cut out of my life, but there just isn’t. Instead I try to cut back on small things and aggressively invest for cashflow.”

While savings do accumulate faster when you cut back on the biggest budget-buster categories (housing, transportation, insurance and taxes), the little things do add up. Take for instance:

My Million Dollar Lunch Recipe

1. Replace your $9.50 restaurant lunches (sandwich, fries, soft drink, sales tax, tip and mileage) with a nutritious $3.00 lunch brought from home.
2. Deposit your $143 monthly savings ($6.50 daily, 22 working days a month) into a Roth IRA retirement account.
3. Invest in equities (stocks, mutual funds) at a 10%* annual long-term average rate of return.
4. Let your account simmer for 41 years.

Recipe Yield = $1,000,837

Serve: During retirement with whipped cream and a cherry on top.

Ingredients:
Total deposits = $70,356
Total interest earned = $930,481
Total taxes paid = $0
Total Saved= $1,000,837

Optional Garnishes:

*

Combine with a 20 minute walk to the park for lunch.

Yield: 1,277,232 calories– enough to keep off (or lose) 365 pounds! (Calculated for a person weighing 140 pounds walking 4mph for 20 minutes (1.33 miles) 5 days a week for 41 years.)
*

Pack a lunch for your spouse.

Yield: An additional $1,000,837
* Add a group of supportive friends for lunch to work on the Baby Steps to Financial Freedom together. Yield: Financial freedom – with friends who will have the resources to enjoy it with you!

Isn’t it amazing how much money you can amass by investing small amounts over long periods of time?

Once you think in terms of investing instead of spending, look for ways to duplicate this process in other ways. Consider the following actions:

*

buy staples in bulk and invest your savings
*

invest your employee bonuses
*

invest unexpected financial gifts and inheritances
*

invest your tax refunds
*

buy a term life insurance policy instead of a whole life one and invest your monthly premium savings
*

buy a used car instead of new and invest the difference in price
*

borrow books, movies and music from your local public library and invest your savings
* save and invest your pocket change

Imagine this: Starting with $0 and depositing $5,000 annually in a Roth IRA account over 41 years (at a 10%* annual rate of return compounded monthly), you will have $3,081,554.

Ingredients:
Total deposits = $210,000
Total interest earned = $2,871,554
Total taxes paid = $0
Total Saved= $3,081,554

Choose affordable and cost-effective options and rather than feel deprived, feel excited that you get to invest the difference in yourself and your future.

~ Bon Appetit!

ooOOOoo

*The actual rate of return is largely dependent on the type of investments you select. From January 1970 to December 2008, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 9.7% (source: www.standardandpoors.com).

Total savings are calculated in actual dollars (not inflation-adjusted). A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2008.

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104 Ways to Save Extra Money

Source:http://ptmoney.com/

Let’s save some money! Here are 104 ways to save extra money. Why save money? Well, so you can afford your future. So you won’t have to rely on credit to get you by. So you can do some fun things. There are lots of reasons to do it.

Why 104? Because it’s double my other list, 52 Ways to Make Extra Money and I like a challenge. Okay, let’s get started with the savings…

1. Get a Piggy Bank – Put up a piggy bank at your home. This creates a visual reminder to capture those little handfuls of change you come home with. At the end of the year, you’ll have a nice little savings fund for a fun purchase, or even to fund a real savings account.
2. Use Open Source Software – Utilize free, open-source software like OpenOffice (like MS Office) and Firefox Internet browser.
3. Get Cash Back for Your Online Purchases – Use a website like Ebates.com to shop online. They will give you a percentage back on the money you spend online at hundreds of popular stores
4. Use CFL Bulbs – Compact florescent lamps (CFLs) cost more on the front-end, but they will save you money and energy in the long-run.
5. Combine Coupons with Local Sales – Save up coupons and use them in conjunction with sales at local markets. You can end up with items either being free or at a greatly discounted price.
6. Drive Your Car Until it Dies – No car payments or big cash outlays. Lower car insurance. Plus, you get the satisfaction of knowing you used this depreciating asset to it’s fullest potential. – DoughRoller.net
7. DIY Greeting Cards – Design and print your own greeting cards. You can design and print a greeting card for around .50/card, which is a good price compared to $3.99 cards.
8. Use Cash for Better Negotiations – Larger ticket items definitely benefit from you waving around cash. You’re able to negotiate great deals when they see you’re a serious buyer. My wife was able to knock $200 of her recent road bike purchase by showing the money and asking. – FiscalGeek.com
9. Consider the Reviews – Do your research before you buy an expensive item (or even a not so expensive item). Check reviews on Amazon, look up reviews online, check a few forums, look up prices at different stores…you can easily save money and you might even find out the item you thought you wanted isn’t so great. – Free From Broke
10. Reuse Work Clothes – Reuse clothes that did not get dirty during the day, this cuts my laundry down, water, and electric bill.
11. Consider a Movie Subscription Service – If you currently spend a lot of money on entertainment at the theater or at the movie rental store from month to month, consider saving time, gas, and money by subscribing to an online movie service like Netflix.
12. Clip Coupons – Find the best coupons in the Sunday paper every week for grocery and other household items.
13. Monthly Spending Review – Write down all the expenses you make in a month. Review the list and try to eliminate the unnecessary expenditures.
14. Avoid Financing at All Costs – Delaying instant gratification by saving for purchases before buying will hone patience and aid in bringing wealth and piece of mind to all who are exercised thereby. This element of self-discipline may be one of the oldest, simplest, and most base elements of financial success… but regrettably, it has also become a lost art in our common culture. Avoid financing and save for things before you buy them. Period. – Debt Free Adventure
15. No Restaurant Challenge – Take a week out of the month, or better yet, a month out of the year and commit to dining inside your home only. No dining out. See how much you can save by following this.
16. Do Free Activities – Find free stuff to do. For example on Sunday mornings go to a big book store and read books in the store without having to pay for them.
17. Keep Larger Bills – Never break down your large bills. You’ll be less likely to spend it. Smaller bills get spent quicker.
18. No Second Thoughts – Only buy things that you really need. Avoid buying things that you have second thoughts about or aren’t sure you’ll need.
19. Dine Out for Special Occasions Only – Only dine out for special occasions. You could get a week’s worth of food at the grocery store for the same amount that you pay for a single dinner out for one person.
20. Consider Quality – Buy things of high quality even if it costs a bit more up front. Look back at all of the things you skimped on over the years and ended up having to replace earlier than you expected. Suddenly that big sale or off-brand item doesn’t seem like such a good idea. This doesn’t mean everything that is more expensive is better, but use your smarts to find the best bang for your buck instead of looking for the absolute lowest price on something. “You get what you pay for” still holds true for many things. – Generation X Finance
21. No Credit Cards – Cut up the credit cards and live only on what you make. No interest. No late fees. No problems.
22. Pack Your Lunch – Don’t go out for lunch everyday; pack lunch instead. This can easily save you $50 a week.
23. Don’t Pay for Your Kids - If you do dine out during the week, make sure you visit one of the many places that offers “kids eat free” specials. At least you won’t be paying for their meals.
24. Don’t Forget to Ask – Ask for a discount. We always ask about discounts and have found that many places we wouldn’t have thought of give unadvertised discounts. For example, our preschool offered a discount to pay in full. And our plumber gave us a discount when we asked. As it turns out, many things are negotiable if you ask! – My Dollar Plan
25. Savings Goal Reminder – Carry a list in your wallet of financial goals that you will see every time you take it out to buy something.
26. Shopping Plan of Attack – Look at all the sale ads before you grocery shop and go to the store with the most sales. Write down a list before I go to any store and it saves you from buying unnecessary items.
27. Vacation During No Child Care Days – Plan your vacation days on the days your children have half days of school or teacher in-service days. It yields more time with kids and lower child care costs.
28. Quit Your Bad Habits – Be they eating out, smoking, or going out partying. Every time you stop yourself from doing it, put the money you would have spent into your savings.
29. Meat Alternative - Meat is generally the most expensive source of protein. Beans and nuts are pound for pound far more nutritious for your protein dollar, and better for you too. –Amateur Asset Allocator
30. Daily Spending Goal - Set a daily goal for yourself: how much money your going to spend during the day.
31. Deal of the Day Sites – Groupon.com. This is a fantastic site to get some great group deals from local businesses. The only thing to watch out for is the “I don’t really need that but it’s such a great deal” syndrome. – FiscalGeek.com
32. Online First, In-store Second – Always do comparison shopping online before going to stores. This will allow you to find the best deal without wasting time and gas driving around town.
33. Consider a Stay-Cation – No need for a big expensive vacation. Take a week off of work and simply do a bunch of activities in your own home town. Skip the hotel and airfare costs and spend more money on entertainment and dining out for the week.
34. Wash Your Own Work Clothes – If you need a lot of professional clothes for work, buy the generic equivalent of Woolite and wash your work clothes with it instead of regular harsh detergents. It costs a bit more initially for the detergent but saves your clothes from fading, thinning, or frizzing, so I can wear them a lot longer and not have to buy new things. Also use Dryel instead of dry cleaning my clothes as much as possible.
35. Do it Right the First Time – If you are working on a car repair or home improvement, consider doing it right the first time. If you try and cut corners it will likely end up costing you more money in the long run. – Money Smart Life
36. Early to Bed, More in the Bank – Go to bed earlier. Saves light, heat and late night nibbles.
37. Create a Savings Category on the Budget – Make saving part of your budget and set saving goals. If you monitor your progress toward a goal you are much more likely to succeed in hitting that goal than if you just hoped to save money some day. Monitoring anything makes you more aware of it. – No Debt Plan
38. Utilize Free Online Services – Dump the monthly subscriptions and read newspapers and magazines online.
39. Be Purposely Low in Cash – Do not take a lot money with you when you go out, so even if you have the temptation to buy something you will not, if its really that important you will surely go back home to get the money. If its not, then you just saved yourself from spending money.
40. Reduce Your Medical Bills – If you have a hospital bill, just call up the billing department and ask if you can get a discount for paying cash, or if you can pay a lower amount. Often they’ll be happy that they’re just collecting a bill, and are willing to cut 10-20% off your amount. We saved several hundred by doing this after my wife was hospitalized last year. – Bible Money Matters
41. Lower Your Interest Rates – Call your bank and/or credit card company to negotiate a better interest rate on your loan or outstanding debt. This can save you hundreds in interest payments.
42. Don’t Pay for Your Credit Report – Instead, visit annualcreditreport.com and get your truly free credit report. Get your credit score from the source at MyFICO.com
43. Kill the Energy Vampire – Connect all of your appliances to surge protectors and shut the switch off when you are finished using them. Most of today’s appliances constantly use electricity when plugged in to the outlet.
44. Cut the Cable TV – Move all your TV watching to online services like Hulu.com. It’s free and has fewer commercials.
45. Pay Yourself First – Put money in your saving account every paycheck. Make it the first thing you do and then pay all bill with your remaining funds.
46. Cancel Your Home Phone Line – Not using your home phone as much? Consider going to your cell phone for most of your calls. Install Skype on your computer for making computer to computer calls or cheap long distance calls. Video is better than voice anyway.
47. Work Out and Exercise at Home – Skip the monthly gym membership and start working out at home or in your neighborhood. Run or walk around the block. Rent workout DVDs from the library to do at home in front of your own TV.
48. Fuel Efficient Auto – If you travel a great deal during the week, consider a high fuel efficient vehicle to save on rising gas prices.
49. Read the Fine Print – Do a thorough review of all your monthly bills. Study the fine print to see exactly what you are being charged for. Cut out any charges for services you aren’t using.
50. The Savings Trade-Off - Think about saving money in terms of trade-offs – save money here, spend it there. If you’re planning on a vacation this year, keep that in mind as you are looking to save money elsewhere. It’ll give you a sense of accomplishment as you save more towards a particular goal and will motivate you to be more creative. – Bargaineering
51. Bring Lunch for Errands – Even if you don’t have a day job, when running errands in town, pack a lunch instead of eating out. This is a healthier alternative that saves you time and money while watching your waistline.
52. Do-it-Yourself Home Repair and Improvement – Most basic home repairs you can do yourself if you take some time to study the manual or look online for video tutorials. And basic improvements, like painting can easily be done cheaper if you use your own labor.
53. Stretch Your Coffee Beans – Use half of your used coffee beans in the next batch. Repeat this cycle and you’ll only use half the recommended scoop each time. Some coffee drinkers swear by this method.
54. Go on a Spend-Free Splurge – Commit to a week without spending new money. Make it a goal to only spend money for the week that you earn from selling old stuff or making returns.
55. Separate Your Savings - Set up a separate bank account with a bank other than your main bank. Deposit extra money in the account whenever possible. This will create a nice barrier between you and your savings.
56. Start a Dinner Club – If you miss the social element of dining with friends, start having each other over to your houses and cook for each other. Similarly to eating at home, you can save money by making your own meals instead of buying pre-prepared meals. – Money Smarts Blog
57. Talk Yourself Out of It – Install a dialog in your head that uses the following questions: “Do I NEED this, or do I just WANT this? If I think I need it, do I have others like it, or will it fulfill a need I can’t meet without it? If I WANT it,will I really enjoy it and appreciate it, or is it just going to make its way to the back of the closet, the bottom of the toolbox, or the one-more-thing-to-dust category?”
58. Go Cash Only – Avoid using credit cards or debit cards for a while. Spend only on things you can already afford with cash.
59. Throw Out the “Deals” – Stop looking at deals and sales unless you are really in need of something. This means cancel all the catalog subscriptions and trowing out the junk mail when it arrives.
60. Invest with a Low Cost Broker – Stop using an expensive broker that charges you an arm and a leg each time you trade. Use one of the top discount online brokers to do your investment trading.
61. Avoid the Deal Websites – Don’t visit online shopping or deal sites unless you have a plan for buying something you need. Doing so will tempt fate.
62. Consider a Refinance on Your Loans – With interest rates at historic lows, you may be able to significantly lower your monthly payment and overall interest owed on a loan by refinancing at a low mortgage rate.
63. Get Social Savings – Use social media, Twitter, Facebook, email etc and follow, fan or subscribe to companies whose products you regularly purchase. You’ll get all sorts of deals and offers that way. You might be better off using a different account or setting up good filtering so you don’t get overwhelmed. – FiscalGeek
64. Use Only One Car – Get rid of the second car. Just trying to get by on one car may seem like a challenge, but it’s well worth it if you are a two-car family. How does at least $500 in insurance savings sound to you?
65. Skip the New Bottled Water – Don’t by bottled water to carry around. Simply refill a permanent container.
66. Grow Your Own Organic Veggies – Organics usually cost more than other veggies. Consider growing some of your own organic vegetables.
67. Don’t Believe the Price Tag – Realize that price tags are liars. Most locally based retailers are willing to negotiate and therefore their price tags are just the starting points. Even managers at large national retailers will occasionally be willing to negotiate. It all starts with your willingness to ask. – The Wisdom Journal
68. Mend Your Own Socks – Yes. Repair your own socks. You can make them last three or four times as long as they otherwise would, and it really adds up.
69. Switch to Bio Fuel – Using bio fuel for vehicles instead of Petrol / Diesel. It is environment friendly too.
70. Limit the Impulse Buys – Try to limit impulse purchases. A few small items can add up quickly, and a major purchase like a new car can haunt you for years. Have a plan. A marketer’s number one job is to separate you from your money. And there are a lot of good marketers out there. My rule is to never go shopping without a list or a clear idea of what you I am looking for. Otherwise, I’ll end up spending more than I had planned to spend. – Cash Money Life
71. Diversify Your Investments – Do not put all your eggs in one basket. Invest in stocks, mutual funds, bonds, real estate, etc.
72. Buy Store Brands – Most of these products come from the exact same factory as the “brand name” equivalent – and you can usually find this on the box – but they cost $1-$3 less.
73. Line Dry Your Clothes - Cut down on energy costs by drying your clothes on a clothesline. They have clotheslines for inside the home as well now.
74. Check Your Warranties and Ask for Free Repairs – If something breaks, don’t immediately run out to buy something new. Look to utilize any available warranties or free repair offers you can find. Some manufacturers are so proud of their products that they will repair them for free.
75. Raise Your Deductible – Raise your car insurance deductible to a higher level. This can cut your premiums by several dollars a month. Just make sure you have the cash saved to cover the deductible in case something happens. – The Dough Roller
76. Budget for Irregular Expenses – Set up a monthly line item in your savings account for bills that don’t come due every month. For example, car repairs. If you know that you will spend around $600 on car repairs every year, put $50 a month in savings so when the inevitable breakdown happens you don’t have to charge it on a credit card. In the meantime, draw interest rather than having to pay it to someone else because you didn’t plan in advance.
77. Get the Kids Involved – Involve your children in the process of saving money. For each coupon they bring home, split the savings with them. For instance, if they give you a fifty cents coupon, give them twenty five cents into their savings account. Thus, saving both for the family and the children.
78. Car Pool – If you drive a car going to work, ask some office mates who could ride with you so that they can share for gas money.
79. Wait 2 Days – On purchases over $100, wait 2 days to think it over before you actually make the purchase.
80. Make a List, Baby – Before buying anything, or even heading to the store, make a list so that you won’t be tempted to buy something more.
81. Utilize Online Coupon Sites – There are many websites that offer coupons that cannot be found in the Sunday paper. They are free to join and easy to use.
82. Two is Better Than One, in the Dryer – It might sound crazy, but tear dryer sheets in half for the dryer. A half sheet is just as effective.
83. Google for Promo Codes – When you get to the shopping cart, you’ll see a space to enter a coupon code or promo code. Instead of just making the purchase, do a quick Google search for your item plus “promo code”. Maybe you’ll find a nice 10% off code to save you money at the last minute.
84. Buy with Your Reward Points – Don’t spend more than you normally would, but use a reward credit card throughout the year and accumulate reward points for your spending. Then use the rewards for your Christmas gifts or to help with a vacation.
85. Install a Programmable Thermostat - This awesome invention can help you save 10 to 20% on your energy bill. Makes saving a no-brainer.
86. Use Your Library More – Instead of buying book and renting movies, use your local library to check out books and movies for free. They also typically have free wifi and computers you can take advantage of.
87. Sweep the Kitchen – Save money by being a creative cook. Use ingredients on hand, rather than buying ingredients to make a specific dish. Food doesn’t go to waste and you’ll create some new and different salads, casseroles, etc.
88. Avoid the Bank Fees – Get rid of those monthly checking and savings fees. Move to an online savings account or online checking account and stop paying fees.
89. Free Eggs – Four chickens on a quarter acre of land provide free eggs, natural insect control, and free fertilizer.
90. Cure Your Savings – When shopping for over the counter medicines compare the labels between the generic and name brand items. Usually they are the same and usually you can get the generic for about 40 percent less than the name brand.
91. Practice Hypermiling – Drive slower, brake as little as possible, and keep your tires properly inflated. All will help to conserve on fuel expenses.
92. Truly Save, Not Spend Less – The best way to save money, is to deposit money in any bank as savings deposit for use at a future time. Don’t confuse spending less with true savings.
93. Bundle Your Savings – Bundle your TV, Internet and phone services. This can typically save you good money each month. – DoughRoller.net
94. Don’t Be a Captive Consumer – Prepare in advance when you might be stuck in a place where the pricing gets marked up because of low competition (e.g. movie theater, airport, zoo, etc.). Bring your own snack, or eat at home just before heading to these places.
95. Invest in a Deep Freeze – If you have a big family, consider buying a deep freeze so you can buy more in bulk, and do more batch cooking.
96. Eat Before You’re Entertained – Eat your meals at home before going to theaters, sporting events, etc.
97. Brew Your Own Coffee - Stop spending upwards of $5.00 per day on a cup of coffee. Make it at home and bring it to work in a thermos.
98. Turn Off the Lights – Make it a habit to turn off the lights when you are the last person to leave a room.
99. Clean with the News – Use old newspapers instead of paper towels with an eco-friendly cleaning product to wipe glass surfaces.
100. Create Your Own Cleaning Rags – Cut up old clothes that have holes or stains and use them around the house for cleaning, dusting, and grease rags. Don’t buy paper towels anymore.
101. Split the Meal – Portion sizes are huge these days. When dining out, split a nicer meal with your significant other.
102. Buy Used from Craigslist – When you’re considering a purchase, first look at Craigslist to see if their is a lightly used version of the product you can purchase for a heavily discounted price.
103. Pay Less in Taxes Next Year – Shelter your money from taxes by putting it in a 401K or traditional IRA.
104. Get Excited About Saving – Find a passion for saving money. Not because you want to hoard all your cash, but because you want to use it for good. Think about how many lives you could change if you saved more of your money to give it away. Or think about how great your kids future could be if you saved more money for their education and general well being. And don’t forget about your own retirement. Enjoy watching your savings grow knowing that you won’t have to depend on someone else for your future.

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