Message from discussion Money Saving Tips
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Date: Wed, 10 Oct 2007 15:56:42 -0700
From: "Gina Trapani @ Lifehacker" <lifehacker.edi...@gmail.com>
Subject: Re: [Lifehacker book 2.0] Re: Money Saving Tips
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On 10/5/07, samhealer <samhe...@googlemail.com> wrote:
> I notice you haven't posted it to the site yet. Maybe you could also
> advertise the group again with this post?
Good idea. I'm queuing up this post for tomorrow, and will re-mention
the group in the post. Thanks Sam and Smokey. :)
> On 3 Oct, 02:57, Smokey B <frymysmo...@gmail.com> wrote:
> > Hey Gina,
> > Feel free to use this post as you like. I don't mind being quoted at
> > all :)
> > On Oct 2, 7:51 pm, "Gina Trapani @ Lifehacker"
> > <lifehacker.edi...@gmail.com> wrote:
> > > Smokey this is a great post. I'd like to post it to Lifehacker.com.
> > > Mind if I quote you?
> > > On 9/11/07, Smokey B <frymysmo...@gmail.com> wrote:
> > > > I'm always a big fan of cutting costs on many unwanted expenses. The
> > > > more tips on how you can save, the better everything else is!
> > > > Here are some of the following ones I'm actually using, and the amount
> > > > of money I've been saving is incredible. They're mostly random ideas
> > > > and they're not in any particular order.
> > > > 1. Obviously, setup a budget. Thanks to you guys, I love using
> > > > expensr for that purpose. Just by visually seeing what you spent,
> > > > helps you quickly pick out all the little things that add up quickly.
> > > > 2. This one is a combo:
> > > > A) Once I had all my financial affairs properly filter out, I started
> > > > to follow the rule of 60, 10, 10 ,10 and of course, 10! Basically
> > > > take 60% of your monthly paycheque and budget that out for all your
> > > > expenses. Rent, Transportion, Groceries, etc. Next, 10% should go
> > > > into your retirement savings, you're gonna need that cash! 10% Should
> > > > go into long term savings. This is emergency money in case everything
> > > > goes wrong and you need quick access to real money. 10% more should
> > > > go into short term savings, say 1 to 6 months worth of savings, then
> > > > you'd be surprised what toys you can afford! Then last 10% should be
> > > > your fun money! Enjoy life while you can ;) Of course, this won't
> > > > work for everyone, so feel free to shuffle the numbers around until
> > > > they do, just stick with em once you do. Sometimes you can even cut
> > > > out the short term savings for now until you can fit it in.
> > > > B) For part two, this is integrated with expensr. I removed all the
> > > > categories and changed them all to Expense, Retirement, Long Term
> > > > Savings and Short Term Savings. Using their budget tool, I just set
> > > > in the limit to each of their respective percentage. Now I can get a
> > > > visual look and/or warning to see if I'm not following my own advice!
> > > > 3. I stopped buying books and got myself a library card. I noticed
> > > > I've been speanding upwards to $200 a month on books, when I can
> > > > easily get most of these from the library. Sure, I don't get to own
> > > > each copy, but that's a sacrefice I'm willing to make. If the book is
> > > > absolutely amazing, then I still may buy it, but at least I get a free
> > > > sneak preview.
> > > > 4. Cut out that coffee. Actually, I drink tea, but I would head to
> > > > the coffee shop every morning and after lunch. That's $1.50 a tea and
> > > > $3.00 a day. That's upwards to $60 month! (I know, I'm a math
> > > > genius.) What do I discover though? A box of tea for $3.00 total
> > > > that will last me the entire month! Cha-ching! More savings for me.
> > > > 5. Bag your lunch. Of course, that's pretty obvious too, but I've
> > > > quickly discovered that the price of one take out lunch can easily
> > > > feed you for a week and still be pretty delicious.
> > > > 6. Cancel your cable. I had the super deluxe cable package, just for
> > > > the shear fact of status, of having all those channels. Well, ya know
> > > > what, there's nothing on TV!!! I find I just flip though all the
> > > > channels the same way I did with a lower package. Even the movie
> > > > channels sucked because they were usually playing crappy movies. So,
> > > > I really didn't cancel my cable, but I drop the extreme package and
> > > > also a $50 expense.
> > > > 7. Oh yeah! Pay off that debt! Sacrifice a few months of not having
> > > > much fun and pay more than the minimun payment on any debt you have.
> > > > Get rid of it. All those micro-payments add up and you'll notice the
> > > > differnece once you're not paying them anymore! This one is the most
> > > > important one of them all. So what can you do in these next few
> > > > months without going out, or watching tv/movies? Get outside! Take a
> > > > walk! Call a friend and play some catch. Being outside is one of the
> > > > best time wasters. Suddenly you'll have tons of extra dough and
> > > > you're being physically active, but that's another life hack we'll
> > > > have to talk about in another chapter ;)
> > > --
> > > Gina Trapani
> > > Editorhttp://lifehacker.com
> > > Order Lifehacker the book:http://lifehackerbook.com- Hide quoted text -
> > - Show quoted text -
Order Lifehacker the book: