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+---- Thread: What's your best tip for saving money? (/showthread.php?tid=6088927)
What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
Moving into a brand new apartment with my girlfriend on the 27th.
I know the property manager, so our rent is just $445 a month (usual price is $990).
We have 6 months of free electricity (only pay fees to the state).
I have my internet through my own firm (English text agency).
Any great tips? Looking to save some money on subscriptions as well, with the help of HF Marketplace š¤
RE: What's your best tip for saving money? - Deany - Jun 20, 2020
Don't spend it
Live minimalistic as possible
Avoid subscription services (as hard as it may be)
RE: What's your best tip for saving money? - Prawnster - Jun 20, 2020
With that price of rent it should be extremely easy to save a lot of money.
I would suggest things like only drinking water, cooking your own food (takeaway/eating out is always expensive and a waste of money), avoid spending money on brand new phones/tech/whatever if what you have already serves the same purpose.
You can also save money with electricity when you do eventually have to pay for that by making the most of the period of free electric by ensuring everything you are using lots of (whatever tech you already have or heating or whatever) is A rating in energy efficiency or as high as possible.
RE: What's your best tip for saving money? - bevc - Jun 20, 2020
Work out your monthly outgoings, then whatever's left-over, as soon as you get paid, put that amount in a savings account. View it as 'paying yourself first'.
RE: What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
(Jun 20, 2020 08:25 AM)Deany Wrote: Don't spend it
Live minimalistic as possible
Avoid subscription services (as hard as it may be)
Some good advice, for sure. Minimalistic isn't really me, as in Marie Kondo, but it does seem interesting.
(Jun 20, 2020 08:28 AM)Mazl Wrote: With that price of rent it should be extremely easy to save a lot of money.
I would suggest things like only drinking water, cooking your own food (takeaway/eating out is always expensive and a waste of money), avoid spending money on brand new phones/tech/whatever if what you have already serves the same purpose.
You can also save money with electricity when you do eventually have to pay for that by making the most of the period of free electric by ensuring everything you are using lots of (whatever tech you already have or heating or whatever) is A rating in energy efficiency or as high as possible.
The electricity trick is actually clever! I will have a look at our electricity-consuming devices.
(Jun 20, 2020 08:30 AM)bevc Wrote: Work out your monthly outgoings, then whatever's left-over, as soon as you get paid, put that amount in a savings account. View it as 'paying yourself first'.
Yeah, I'm already a pretty heavy investor, so that's where about 80% of left-overs will go =)
RE: What's your best tip for saving money? - LSD - Jun 20, 2020
I got this simple money management strategy from a book called "Richest man in babylon"
Spoiler (Click to View)
My personal twist that I use right now for my life:
Spoiler (Click to View)
RE: What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
(Jun 20, 2020 09:05 AM)TinyĀ LSD Wrote: I got this simple money management strategy from a book called "Richest man in babylon"
Spoiler (Click to View)
My personal twist that I use right now for my life:
Spoiler (Click to View)
That book is on my list of must-reads!
I just finished "Rich Dad, Poor Dad" - great read.
RE: What's your best tip for saving money? - Wespa - Jun 20, 2020
Whenever you come back from a night out and you have coins in your pocket put them to a jar or something so that you don't lose them.
RE: What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
(Jun 20, 2020 10:07 AM)Wespa Wrote: Whenever you come back from a night out and you have coins in your pocket put them to a jar or something so that you don't lose them.
That's a pretty good tip. A shame we, like, never use cash where I live no more :(
RE: What's your best tip for saving money? - Wespa - Jun 20, 2020
(Jun 20, 2020 10:09 AM)RIPĀ JuiceĀ WRLD Wrote: That's a pretty good tip. A shame we, like, never use cash where I live no more :(
Well in that case you are already saving money from a possible situation like that. :P
RE: What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
(Jun 20, 2020 10:11 AM)Wespa Wrote: Well in that case you are already saving money from a possible situation like that. :P
I just use my phone or NFC to pay instead š
RE: What's your best tip for saving money? - Spearmint - Jun 20, 2020
Keep your debit order as low as possible. Pay cash when you can and I would say invest into a stock portfolio and use the dividends rather than the initial investment if you have to.
RE: What's your best tip for saving money? - Bacardi Cola Lime - Jun 20, 2020
I invest on crypto as soon as I get extra money. If I hold the money in me I will end up spending so itās not a good idea. You could open a savings account if you are not into crypto.
RE: What's your best tip for saving money? - RIP Juice WRLD - Jun 20, 2020
(Jun 20, 2020 10:42 AM)BacardiĀ ColaĀ Lime Wrote: I invest on crypto as soon as I get extra money. If I hold the money in me I will end up spending so itās not a good idea. You could open a savings account if you are not into crypto.
I've already got 6 months of all expenses on a savings account, and a couple of years income for someone my age in investments.
I could treat myself, but why start a bad habit.
RE: What's your best tip for saving money? - Bacardi Cola Lime - Jun 20, 2020
(Jun 20, 2020 10:43 AM)RIPĀ JuiceĀ WRLD Wrote: I've already got 6 months of all expenses on a savings account, and a couple of years income for someone my age in investments.
I could treat myself, but why start a bad habit.
Once you get used to treating yourself, itās all downhill hahaha. Do it with moderation.