Eighteen “Best Money Tips” from the Facebook Fans (and My Comments)
Recently, I asked the fans of The Simple Dollar on Facebook what their favorite single money tip was. I got all kinds of responses from all kinds of angles.
I thought I’d share some of them with you. I went through the list and started just pulling out ones that made me smile and before I knew it, I had eighteen. Here they are!
(If you’re on Facebook, please become a fan of The Simple Dollar. I put up something about once a week, so it won’t be flooding your pages with updates.)
Lisa Hayes: My best tip? Stay home!
Absolutely. For the most part, activities in the home are much less expensive than activities out and about. Watching a movie at home? Much cheaper than a theater. Making a meal at home? Much cheaper than eating out. Having a few drinks with friends? Much cheaper at home than at a club.
Tammy Ackerson: Signed up for The Grocery Game. Routinely saves me (family of 3) over $100/week on things I’d have bought anyway, and takes less time than sorting through all the sale papers and coupons myself. Requires stockpiling non-perishable foods, paper goods, health and hygiene items to get the most out of it, but after a few months, I started having some weeks where I didn’t have to buy anything but milk and produce.
I used The Grocery Game for a time, but I never found that it saved me much more than simply knowing the best stores to shop at in the area and planning my meals well. It could be that it just doesn’t serve rural Iowa all that well. However, I do agree that sensible buying in bulk can save you quite a lot of money, as can putting some care into meal planning.
Kara Ryder-Overman: Just because it’s on sale, doesn’t mean you should buy it
For me, the most annoying thing in advertisements about sales is when companies talk about how much money you “save.” You don’t save anything by buying more stuff. You’re still throwing away the money you worked so hard for in exchange for some stuff that you probably don’t need.
Susan Vittitow Mark: One year, my New Year’s resolution was simply “If I can’t pay cash, I don’t need it.”
An all-cash personal economy works really well for keeping yourself out of debt. I still recommend keeping a credit card and using it for some essential purchases to keep your credit rating high (like owning a gas station card and using it only for gas, then paying off the balance each month), because a high credit rating can help with insurance rates.
Kristin Cribbs Dunlap: Make friends with compulsive upgraders – from “The Complete Tightwad Gazette”.
Compulsive upgraders always have stuff they’re giving away. Another tip along these lines: look for yard sales and garage sales in upscale neighborhoods. They’re often selling stuff for $0.50 that I’d love to have in my home.
Sue Peterson Blyth: Developing our single family home into an intentional community – now housing four families – pays for our mortgage payment and also adds neighbors committed to things like energy conservation, recycling and help with weeding in the garden.
This takes renting out an extra room in your home to a whole new level! I think this could work very well with the right people, but the wrong people could easily poison the pot.
leslie beslie: Ask! Ask for a lower insurance rate. Ask for a better cable/deal. Ask for reduced interest. Ask about current sales/promotions. Ask for a raincheck.
This works great if you’re an extrovert. I’ve been working on an article about this for a while, building on the idea of askers and guessers.
Daniel Aggeler: Separate your “want list” from your “need list”.
I think many people are poor at doing this on the fly. Marketing intensifies the urgency of various wants, to the point that they become all-encompassing to people. They think about the thing they want incessantly until the urgency of it becomes almost like a need, especially in some situations where it’s very convenient just to buy the item.
Sumitra Thomas: Dont spend on champagne when you only can afford beer!
Both literally and figuratively, of course.
Stephanie Pope Hedgepeth: Set up an automatic bank transfer from checking account to savings account each pay date.
Most of our personal finances run on automatic transfers. Our retirement savings is done by automatic transfer. Our long term goal saving is done by automatic transfer. Our emergency fund is built by automatic transfer. Many of our bills are paid automatically.
Sandra Clark: Don’t drive home past the liquor store when you work at a job that you really don’t like and consistently frustrates you!
This was perhaps the funniest one. Don’t turn to alcohol to solve your problems, folks!
Kymberlee Parker-Young: MOST people buy a new(er) car because they WANT one not because they NEED one.
Most people buy most things because they want them, not because they need them. A nice car doesn’t provide transportation, it provides a sense of owning a nice car.
Kyrie Moore: cloth diapers i sew myself, built our own diaper sprayer (from online tutorial), i clean everything with just vinegar and/or baking soda, rags instead of paper towels (with kids paper towels go SO fast), AND us and 3 family members go in a whole cow every year for meat… okay that’s a lot more than just 1….
Making things yourself almost always saves money. My family and I are ardent cloth diaperers. We have a nice garden. We make most of our meals at home, from scratch. Yet we eat really well and diaper rash isn’t a problem – and we don’t spend much, either.
Hannah Pitts: Don’t buy more house than you can afford!
I think if you’re more than doubling your combined salary in a mortgage, no matter what the interest rate, you’re setting yourself up for potential trouble down the road.
Candie Ackerman: Buy used before trying to buy anything new.
The easiest way to do this is to shop at the used store first. When you go clothes shopping, start at the consignment shop (we’ve been frequenting Duck Worth Wearing in Ames, Iowa for our children’s clothes needs lately, for example) or Goodwill. If you want a video game, hit a used video game shop. The list goes on and on.
Karen Eck: I shop with forethought and afterthought. Many, many times I pick up an item only to return it to the self .”Do I need it, do I already have one, can I do without, why do I need it, would something I have work just as well in its place. Doing this has saved us alot of money.
If you’re buying stuff without thinking, you’re not only paying too much for the stuff you’re getting, but you’re also likely picking up a lot of stuff you don’t need and barely want.
Jennifer Sheets: No recreational shopping!
To me, “recreational shopping” doesn’t sound like fun at all. Whenever I’m in a store, my mission is usually to get out of there as quickly as possible.
Susan Jensen: Live within your means. Iif you cannot afford it, do not buy it. Above all, choose to do what’s right, over what’s easy.
That’s pretty much the best single shot of advice in this whole article.
Continue reading Eighteen “Best Money Tips” from the Facebook Fans (and My Comments) …
From The Simple Dollar.
Eighteen “Best Money Tips” from the Facebook Fans (and My Comments)
Recently, I asked the fans of The Simple Dollar on Facebook what their favorite single money tip was. I got all kinds of responses from all kinds of angles.
I thought I’d share some of them with you. I went through the list and started just pulling out ones that made me smile and before I knew it, I had eighteen. Here they are!
(If you’re on Facebook, please become a fan of The Simple Dollar. I put up something about once a week, so it won’t be flooding your pages with updates.)
Lisa Hayes: My best tip? Stay home!
Absolutely. For the most part, activities in the home are much less expensive than activities out and about. Watching a movie at home? Much cheaper than a theater. Making a meal at home? Much cheaper than eating out. Having a few drinks with friends? Much cheaper at home than at a club.
Tammy Ackerson: Signed up for The Grocery Game. Routinely saves me (family of 3) over $100/week on things I’d have bought anyway, and takes less time than sorting through all the sale papers and coupons myself. Requires stockpiling non-perishable foods, paper goods, health and hygiene items to get the most out of it, but after a few months, I started having some weeks where I didn’t have to buy anything but milk and produce.
I used The Grocery Game for a time, but I never found that it saved me much more than simply knowing the best stores to shop at in the area and planning my meals well. It could be that it just doesn’t serve rural Iowa all that well. However, I do agree that sensible buying in bulk can save you quite a lot of money, as can putting some care into meal planning.
Kara Ryder-Overman: Just because it’s on sale, doesn’t mean you should buy it
For me, the most annoying thing in advertisements about sales is when companies talk about how much money you “save.” You don’t save anything by buying more stuff. You’re still throwing away the money you worked so hard for in exchange for some stuff that you probably don’t need.
Susan Vittitow Mark: One year, my New Year’s resolution was simply “If I can’t pay cash, I don’t need it.”
An all-cash personal economy works really well for keeping yourself out of debt. I still recommend keeping a credit card and using it for some essential purchases to keep your credit rating high (like owning a gas station card and using it only for gas, then paying off the balance each month), because a high credit rating can help with insurance rates.
Kristin Cribbs Dunlap: Make friends with compulsive upgraders – from “The Complete Tightwad Gazette”.
Compulsive upgraders always have stuff they’re giving away. Another tip along these lines: look for yard sales and garage sales in upscale neighborhoods. They’re often selling stuff for $0.50 that I’d love to have in my home.
Sue Peterson Blyth: Developing our single family home into an intentional community – now housing four families – pays for our mortgage payment and also adds neighbors committed to things like energy conservation, recycling and help with weeding in the garden.
This takes renting out an extra room in your home to a whole new level! I think this could work very well with the right people, but the wrong people could easily poison the pot.
leslie beslie: Ask! Ask for a lower insurance rate. Ask for a better cable/deal. Ask for reduced interest. Ask about current sales/promotions. Ask for a raincheck.
This works great if you’re an extrovert. I’ve been working on an article about this for a while, building on the idea of askers and guessers.
Daniel Aggeler: Separate your “want list” from your “need list”.
I think many people are poor at doing this on the fly. Marketing intensifies the urgency of various wants, to the point that they become all-encompassing to people. They think about the thing they want incessantly until the urgency of it becomes almost like a need, especially in some situations where it’s very convenient just to buy the item.
Sumitra Thomas: Dont spend on champagne when you only can afford beer!
Both literally and figuratively, of course.
Stephanie Pope Hedgepeth: Set up an automatic bank transfer from checking account to savings account each pay date.
Most of our personal finances run on automatic transfers. Our retirement savings is done by automatic transfer. Our long term goal saving is done by automatic transfer. Our emergency fund is built by automatic transfer. Many of our bills are paid automatically.
Sandra Clark: Don’t drive home past the liquor store when you work at a job that you really don’t like and consistently frustrates you!
This was perhaps the funniest one. Don’t turn to alcohol to solve your problems, folks!
Kymberlee Parker-Young: MOST people buy a new(er) car because they WANT one not because they NEED one.
Most people buy most things because they want them, not because they need them. A nice car doesn’t provide transportation, it provides a sense of owning a nice car.
Kyrie Moore: cloth diapers i sew myself, built our own diaper sprayer (from online tutorial), i clean everything with just vinegar and/or baking soda, rags instead of paper towels (with kids paper towels go SO fast), AND us and 3 family members go in a whole cow every year for meat… okay that’s a lot more than just 1….
Making things yourself almost always saves money. My family and I are ardent cloth diaperers. We have a nice garden. We make most of our meals at home, from scratch. Yet we eat really well and diaper rash isn’t a problem – and we don’t spend much, either.
Hannah Pitts: Don’t buy more house than you can afford!
I think if you’re more than doubling your combined salary in a mortgage, no matter what the interest rate, you’re setting yourself up for potential trouble down the road.
Candie Ackerman: Buy used before trying to buy anything new.
The easiest way to do this is to shop at the used store first. When you go clothes shopping, start at the consignment shop (we’ve been frequenting Duck Worth Wearing in Ames, Iowa for our children’s clothes needs lately, for example) or Goodwill. If you want a video game, hit a used video game shop. The list goes on and on.
Karen Eck: I shop with forethought and afterthought. Many, many times I pick up an item only to return it to the self .”Do I need it, do I already have one, can I do without, why do I need it, would something I have work just as well in its place. Doing this has saved us alot of money.
If you’re buying stuff without thinking, you’re not only paying too much for the stuff you’re getting, but you’re also likely picking up a lot of stuff you don’t need and barely want.
Jennifer Sheets: No recreational shopping!
To me, “recreational shopping” doesn’t sound like fun at all. Whenever I’m in a store, my mission is usually to get out of there as quickly as possible.
Susan Jensen: Live within your means. Iif you cannot afford it, do not buy it. Above all, choose to do what’s right, over what’s easy.
That’s pretty much the best single shot of advice in this whole article.
Continue reading Eighteen “Best Money Tips” from the Facebook Fans (and My Comments) …
From The Simple Dollar.
Eighteen “Best Money Tips” from the Facebook Fans (and My Comments)
Recently, I asked the fans of The Simple Dollar on Facebook what their favorite single money tip was. I got all kinds of responses from all kinds of angles.
I thought I’d share some of them with you. I went through the list and started just pulling out ones that made me smile and before I knew it, I had eighteen. Here they are!
(If you’re on Facebook, please become a fan of The Simple Dollar. I put up something about once a week, so it won’t be flooding your pages with updates.)
Lisa Hayes: My best tip? Stay home!
Absolutely. For the most part, activities in the home are much less expensive than activities out and about. Watching a movie at home? Much cheaper than a theater. Making a meal at home? Much cheaper than eating out. Having a few drinks with friends? Much cheaper at home than at a club.
Tammy Ackerson: Signed up for The Grocery Game. Routinely saves me (family of 3) over $100/week on things I’d have bought anyway, and takes less time than sorting through all the sale papers and coupons myself. Requires stockpiling non-perishable foods, paper goods, health and hygiene items to get the most out of it, but after a few months, I started having some weeks where I didn’t have to buy anything but milk and produce.
I used The Grocery Game for a time, but I never found that it saved me much more than simply knowing the best stores to shop at in the area and planning my meals well. It could be that it just doesn’t serve rural Iowa all that well. However, I do agree that sensible buying in bulk can save you quite a lot of money, as can putting some care into meal planning.
Kara Ryder-Overman: Just because it’s on sale, doesn’t mean you should buy it
For me, the most annoying thing in advertisements about sales is when companies talk about how much money you “save.” You don’t save anything by buying more stuff. You’re still throwing away the money you worked so hard for in exchange for some stuff that you probably don’t need.
Susan Vittitow Mark: One year, my New Year’s resolution was simply “If I can’t pay cash, I don’t need it.”
An all-cash personal economy works really well for keeping yourself out of debt. I still recommend keeping a credit card and using it for some essential purchases to keep your credit rating high (like owning a gas station card and using it only for gas, then paying off the balance each month), because a high credit rating can help with insurance rates.
Kristin Cribbs Dunlap: Make friends with compulsive upgraders – from “The Complete Tightwad Gazette”.
Compulsive upgraders always have stuff they’re giving away. Another tip along these lines: look for yard sales and garage sales in upscale neighborhoods. They’re often selling stuff for $0.50 that I’d love to have in my home.
Sue Peterson Blyth: Developing our single family home into an intentional community – now housing four families – pays for our mortgage payment and also adds neighbors committed to things like energy conservation, recycling and help with weeding in the garden.
This takes renting out an extra room in your home to a whole new level! I think this could work very well with the right people, but the wrong people could easily poison the pot.
leslie beslie: Ask! Ask for a lower insurance rate. Ask for a better cable/deal. Ask for reduced interest. Ask about current sales/promotions. Ask for a raincheck.
This works great if you’re an extrovert. I’ve been working on an article about this for a while, building on the idea of askers and guessers.
Daniel Aggeler: Separate your “want list” from your “need list”.
I think many people are poor at doing this on the fly. Marketing intensifies the urgency of various wants, to the point that they become all-encompassing to people. They think about the thing they want incessantly until the urgency of it becomes almost like a need, especially in some situations where it’s very convenient just to buy the item.
Sumitra Thomas: Dont spend on champagne when you only can afford beer!
Both literally and figuratively, of course.
Stephanie Pope Hedgepeth: Set up an automatic bank transfer from checking account to savings account each pay date.
Most of our personal finances run on automatic transfers. Our retirement savings is done by automatic transfer. Our long term goal saving is done by automatic transfer. Our emergency fund is built by automatic transfer. Many of our bills are paid automatically.
Sandra Clark: Don’t drive home past the liquor store when you work at a job that you really don’t like and consistently frustrates you!
This was perhaps the funniest one. Don’t turn to alcohol to solve your problems, folks!
Kymberlee Parker-Young: MOST people buy a new(er) car because they WANT one not because they NEED one.
Most people buy most things because they want them, not because they need them. A nice car doesn’t provide transportation, it provides a sense of owning a nice car.
Kyrie Moore: cloth diapers i sew myself, built our own diaper sprayer (from online tutorial), i clean everything with just vinegar and/or baking soda, rags instead of paper towels (with kids paper towels go SO fast), AND us and 3 family members go in a whole cow every year for meat… okay that’s a lot more than just 1….
Making things yourself almost always saves money. My family and I are ardent cloth diaperers. We have a nice garden. We make most of our meals at home, from scratch. Yet we eat really well and diaper rash isn’t a problem – and we don’t spend much, either.
Hannah Pitts: Don’t buy more house than you can afford!
I think if you’re more than doubling your combined salary in a mortgage, no matter what the interest rate, you’re setting yourself up for potential trouble down the road.
Candie Ackerman: Buy used before trying to buy anything new.
The easiest way to do this is to shop at the used store first. When you go clothes shopping, start at the consignment shop (we’ve been frequenting Duck Worth Wearing in Ames, Iowa for our children’s clothes needs lately, for example) or Goodwill. If you want a video game, hit a used video game shop. The list goes on and on.
Karen Eck: I shop with forethought and afterthought. Many, many times I pick up an item only to return it to the self .”Do I need it, do I already have one, can I do without, why do I need it, would something I have work just as well in its place. Doing this has saved us alot of money.
If you’re buying stuff without thinking, you’re not only paying too much for the stuff you’re getting, but you’re also likely picking up a lot of stuff you don’t need and barely want.
Jennifer Sheets: No recreational shopping!
To me, “recreational shopping” doesn’t sound like fun at all. Whenever I’m in a store, my mission is usually to get out of there as quickly as possible.
Susan Jensen: Live within your means. Iif you cannot afford it, do not buy it. Above all, choose to do what’s right, over what’s easy.
That’s pretty much the best single shot of advice in this whole article.
Continue reading Eighteen “Best Money Tips” from the Facebook Fans (and My Comments) …
From The Simple Dollar.
Christian PF: the hidden dangers of buying in bulk
One of the questions I often get when I give my grocery shopping classes is about buying at the bulk food stores.
It’s not a trick I use often myself because I don’t need food in those huge containers. I buy some snacks, nuts and occasional catering-style food at Gordon Food Service, and that’s it. There [...]
Continue reading Christian PF: the hidden dangers of buying in bulk …
From Monroe on a Budget.
Do You Really Save Money if you Purchase Items in Bulk?
With the continued cost of various items in our society the concept of buying in bulk is getting to be more common that ever. Yet many people question if they are really saving money or not. The answer to this question that yes you will save money when you purchase the right items in bulk. [...]
Continue reading Do You Really Save Money if you Purchase Items in Bulk? …
From Frugal Simplicity.
Bulk Cooking, Cooking from Scratch, Freezing Potatoes, Buying in Bulk
Buying in bulk and bulk cooking are two ways to adapt your grocery habits to your locale. Read how this woman practices bulk cooking Southwestern style.
Continue reading Bulk Cooking, Cooking from Scratch, Freezing Potatoes, Buying in Bulk …
From The Dollar Stretcher Featured Content.
Buying In Bulk The Frugal Way
How well do you score on this coupon knowledge quiz?
How good is your grocery coupon knowledge? Let’s find out.
1. What is the purpose of coupons?
A. To advertise a product.
B. To save you money.
2. There’s a coupon on 2 for 1 single serve candy bars. At what store do you use that coupon?
A. The store that has candy bars for 50 cents each.
B. The store that has candy bars for 88 cents each.
3. The store is having super double coupon sale up to $2 value. You have a 75 cents off coupon for a product that has a retail price of $1.25. How much will you pay for that product?
A. You will get a refund of 25 cents.
B. The product will be free.
4. If you prefer or need to cook from scratch or use homemade mixes, don’t bother with coupons. It’s all junk food.
A. True.
B. False.
5. Generic products are always cheaper than brand-name products.
A. False.
B. True.
6. You live in a market where some stores double coupons up to 50 cents and some stores take all coupons at face value. Where will you use the $1 off coupon?
A. At the double coupon store.
B. At the store that does not double coupons.
7. There’s a product you normally never buy because you think the cost is outrageous. Do you save the coupon for that product?
A. Yes.
B. No.
8. You have a coupon for $1 off a product. The smaller package costs $3, the bigger package costs $5. Which is the better one to use with your coupon?
A. The bigger package. Buying in bulk is always smarter.
B. The smaller package. The percentage off works in your favor.
9. Meat products such as hamburger, steak, pork chops, ham, turkey and chicken rarely have coupon deals available. How do you handle the cost of meat?
A. Use coupons for buns and condiments.
B. Buy your meat in “family packs” and split the product up into meal-sized portions when you get home.
C. Watch for the butcher’s specials and holiday promotions.
D. Purchase meat from the “grocery by the box” programs such as Angel Food Ministries.
E. Make friends with a hunter.
F. All of the above.
10. You’re finding a really good bargain on cereal. You have all the right coupons, the sale price is good, and you can even trade in some receipts or UPC codes for a rebate. How much cereal do you buy?
A. As much as the store will let you carry out the door in one transaction.
B. A three-month supply so you can start on an emergency stockpile plan.
C. Only as much cereal as your family will eat before the expiration dates come up.
Answer key:
- A. The purpose is advertising. The food companies and supermarket chains don’t care if you save money or not, although the fact you are saving money can result in good public relations for their company. They want their products off the shelves and into shopping carts.
- A. You only “saved” 50 cents instead of 88 cents. But the bottom line is that you bought those two candy bars for 25 cents each instead of 44 cents each.
- B. In most cases, stores double or accept at face value coupons only up to the cost of the product. If you want to get money back for buying products, you need to be adding other money-saving tactics such as rebates into the mix.
- B. The coupon mix depends on the season of the year. You will find “cook from scratch” products such as flour, sugar and spices promoted during the weeks just before Thanksgiving / Christmas and Easter. Besides, the year-round coupon mix includes pet food, vitamins, toilet paper, cleaning supplies, toothpaste and pain relievers – products that most families use regardless of their taste in food.
- A. If you don’t use coupons or pay attention to the sales fliers, generic products will be better priced than the name-brand products. But save that trick for when you are caught off-guard by a necessary purchase. There have been many times when I purchased name-brand products for free or very huge discounts compared to the cost of generic products. But in order to do that, I am often making those purchases in advance of actual “need”.
- B. In most cases, you are better off saving the higher-value coupons for use at the stores that do not double coupons.
- A. If the only reason you don’t buy the product is the price, save the coupon. There may be a sale that will surprise you during the coupon run. Now, if it’s a product you would never use because you don’t like the taste or the results, then put the coupon in your giveaway box.
- B. Do the math per unit, ounce, serving size, etc. But in most cases, the smaller package is the one you want to put a coupon on. This is why warehouse-sized packages are not necessarily the best choice for a product that frequently has coupons in circulation.
- F. You want to use as many of those tactics as possible. All of the above tricks can work, but it depends on the week or time of year. Pay attention to what and how much meat you use on a monthly basis, and you’ll have a pretty good idea what meats to purchase and freeze for future use on when deals are available.
- C. Regardless of whatever the product is, do not buy more than your family will eat or use before the expiration date. The only exception is when you are intending to make a food pantry donation and will be donating that food or personal care product long before the expiration date.
What’s your score?
1 to 3 right answers: Is there a bargain-loving friend or relative you can “job shadow” on a couple of her grocery shopping trips?
4 to 6 right answers: You are on the right track. Make the effort to fine-tune your grocery acquisition skills and you’ll see the savings that the coupon queens brag about. I’m spending less per person on groceries, cleaning products and personal care items than I was five or six years ago – and I thought I was doing a good job then.
7 to 10 right answers: Oh, enlightened one. You probably have your own blog.
Continue reading How well do you score on this coupon knowledge quiz? …
From Monroe on a Budget.