How do you save money?

better call saul

Just curious as Im not living extravagantly yet still cant save much of the pay cheque each week!

Senna

Either earn more or spend less
















or rob a bank?

curry-muff

I spend less than I earn.

pmasterson95

Wanna buy some magik?

Mister Vain

I refrain from alcohol so I'm worth a fortune. Well at least that's what most people like to think anyway. "Ohh he doesn't drink, he must be loaded."

kfallon

Mister Vain wrote: »

I refrain from alcohol so I'm worth a fortune. Well at least that's what most people like to think anyway. "Ohh he doesn't drink, he must be loaded."

I usually end up 'loaded' when I drink!

Tugboats

Claim dole twice in different counties

dmc17

Mister Vain wrote: »

I refrain from alcohol so I'm worth a fortune. Well at least that's what most people like to think anyway. "Ohh he doesn't drink, he must be loaded."

People look at me and say "he's drinking again, he's feckin loaded!". It can get confusing at the best of times :pac:

suave.4u

Mister Vain wrote: »

I refrain from alcohol so I'm worth a fortune. Well at least that's what most people like to think anyway. "Ohh he doesn't drink, he must be loaded."

No Drink!! What is the point of life then

tampopo

I spend less this month than I earned last month...

ygolometsipe

I has the same problem! you need to cut out the necessaries.

No hookers
No coke
No 1988 Remy Martin
Get rid of the personal chauffeur
No one needs two nannies ( I didn't even have kids).
moved from a four bed penthouse to a two bed penthouse.

I think you can see what I mean, a few small cutbacks can mean big savings.

Ted_YNWA

Have direct debit set up so never actually get to see money sitting in current account.

ygolometsipe

Mister Vain wrote: »

I refrain from alcohol so I'm worth a fortune. Well at least that's what most people like to think anyway. "Ohh he doesn't drink, he must be loaded."

I cant trust a man that doesn't drink but then trust isn't very important to me.

you must have some bad habit tho?

Aidric

Start with doing a personal budget to analyse your spending.

The Diabolical Monocle

no alcomohol, no schmokes, no gambling, no dominos, non del cocoaine, flatmate, self service, no children, no action figures, no weekends in Prague, no renting dvds, no cinema, woolly jumper.

kfallon

The Diabolical Monocle wrote: »

no alcomohol, no schmokes, no gambling, no dominos, non del cocoaine, flatmate, self service, no children, no action figures, no weekends in Prague, no renting dvds, no cinema, woolly jumper.

I'm pretty sure if you change every 'no' in the above post to 'choose' it's the opening lines of Trainspotting

Desolation Of Smug

Jam some under the mattress every week. That's what most people do.

RobertKK

When the recession came I had to sell my helicopter and I downgraded the car which saved me loads, stayed single to avoid anyone who might be high maintenance.
One downside, I had to pay off some foreign slaves whom had a problem with the lack of pay and time off which was saving me a lot of money.

I may have mixed up my life with the lives of various other people...

UCDVet

Here's what I do...

1.) Cancel cable TV - just use internet (~20e per month)
2.) Cancel cell phone - get prepay phone and never use it. Use the 500 free text messages to communicate (~30e per month)
3.) Ditch the car. Ditch the bus. Get a bicycle. Cycle to work (~100e per month for me compared to DublinBus)
4.) No more soft drinks. I used to waste so much money drinking 3-5 cans of Coke/Pepsi each day. Stop that. Drink water (~20e)
5.) Work lunches....stop buying lunches. I used to spend 5-6e per day. Now I buy sandwich meat and pack a lunch (~70e - cause you still have to pay for the meat and bread)

That's like 240 quid in my pocket. Not only that, between cycling, no soft drinks, and no fast food, you'll probably lose some weight/gain a tiny bit of fitness.

I guess if you've got a lot of money, it isn't worth the effort. But at the end of a year, I'd rather look back at memories of some trip I went on or some cherished item I bought than remember all the days I spent on the bus, or the cable TV I watched, or my fancy Galaxy S whatever phone, or the 50 times I went to McDonalds.

I also got a roommate (400e per month) but that one is a big change for a lot of people.

Reg'stoy

Ignore peoples names on their lunches in the office fridge.

pablo128

A rich young Arab was interviewed in London about driving around in a flash Ferrari, while the locals his age were driving Golfs, Focus etc. He replied that they were probably drinking every weekend, in the bookies, going into casinos, smoking cigarettes, while he simply drove his Ferrari.

So would you rather be the Arab or the Brit?

ytpe2r5bxkn0c1

I just have it on a standing to a savings account. When working I had it straight from my wages to a credits union. What you never had you never miss.

Not spending helps too.

The Backwards Man

I'm a tight, miserable bastard

run_Forrest_run

UCDVet makes some good points, it's the day to day small costs you need to watch. Things like coffee, sambos etc, it all adds up.
I'd also suggest doing up a budget based on your income and withdraw only that amount from your account and use that cash for the week.
Always deal in cash as it means more to hand over your hard earned cash for something. With debit cards etc it's too easy to lose track of your spending.

kfallon

The Backwards Man wrote: »

I'm a tight, miserable bastard

Think you're looking for PI Forum.....

UCDVet

pablo128 wrote: »

A rich young Arab was interviewed in London about driving around in a flash Ferrari, while the locals his age were driving Golfs, Focus etc. He replied that they were probably drinking every weekend, in the bookies, going into casinos, smoking cigarettes, while he simply drove his Ferrari.

So would you rather be the Arab or the Brit?

I get that it's meant to be an anecdote; but I'm not sure the maths would work out. The cost of a flash Ferrari is really high and the cost of insurance, tax, maintenance and petrol would be off the charts.

I know when I was young, there is no way I drank, smoked or gambled anywhere near the amount of money you'd need for a decent Ferrari.

Clermont1098

Slowly

pablo128

UCDVet wrote: »

I get that it's meant to be an anecdote; but I'm not sure the maths would work out. The cost of a flash Ferrari is really high and the cost of insurance, tax, maintenance and petrol would be off the charts.

I know when I was young, there is no way I drank, smoked or gambled anywhere near the amount of money you'd need for a decent Ferrari.

Would you rather have money and not spend it, or spend what you have and enjoy it?

I don't drink and I don't smoke, and it made student life infinitely more comfortable than my peers. Two biggest savings most people can make is to cut out or radically cut down those two expenses.

My big extravagance is my car, I don't need it for commuting or for work so it really is a luxury, but one I wouldn't be without.

FeeNi

I do a weekly meal plan and stick to the items on my list when grocery shopping...takes a bit of effort/planning but I find it well worth it, cuts well down on the cost of groceries and a lot less food wastage.

The Diabolical Monocle

run_Forrest_run wrote: »

Always deal in cash as it means more to hand over your hard earned cash for something. With debit cards etc it's too easy to lose track of your spending.

this.

watch your interest like a pervert.

animum

I leave my wallet at home Monday to Thursday.
have enough fuel in my car to do me the week, make my lunches for work..
have a coffee machine, and water dispenser at work so I don't buy them.
I don't ever need to go to the shop..
try it for a week and you'll be amazed, if u don't have it, you won't spend it.

syklops

Kye Tiny Cash wrote: »

I just have it on a standing to a savings account. When working I had it straight from my wages to a credits union. What you never had you never miss.

Not spending helps too.

What percentage of your salary do you save?

anncoates

pablo128 wrote: »

A rich young Arab was interviewed in London about driving around in a flash Ferrari, while the locals his age were driving Golfs, Focus etc. He replied that they were probably drinking every weekend, in the bookies, going into casinos, smoking cigarettes, while he simply drove his Ferrari.

So would you rather be the Arab or the Brit?

This is probably the crappest motivational anecdote ever.

pablo128

anncoates wrote: »

This is probably the crappest motivational anecdote ever.

See post #28.

Irishmale0399

Pay everything you can in cash....hurts more when you feel it and see it in someone elses hand.
Only go to the hole in the wall once a month or weekly depending on how you are paid. Take what you need to survive and thats it for the month shopping socialising wise. If you go monthly pack the money into 4 envelopes...week1...week2 and only open them to go shopping.

Also make a meal/lunch plan, make a shopping list and off you go for your one and only shop for the week.

Big kilo pack of mince.....
Monday & Tuesday: Spag bol
turns into
Wed. & Thurs.: Chilli con carne with rice
turns into
Friday & Sat: Chilli Lasange
Sunday: Mother or visit someone
Add a box of cornflakes, milk, breaad, butter, cheese, ham........less than €50 if you shop cleverly.

Please note......i dont live or eat as above, but if i had to i would.

cabledude

Tugboats wrote: »

Claim dole twice in different counties

Yes boss!!

qo2cj1dsne8y4k

I'm the worlds worst at saving. What I've started to do is send a direct debit from current account to savings account each payday, taking 1/3 of my wages. That leaves 2/3 for bills food and commuting. It's tough but I need to do it and I'll get used to it

Earthhorse

pablo128 wrote: »

Would you rather have money and not spend it, or spend what you have and enjoy it?

Wha? What's that got to do with what you posted?

Both people are spending money in your anecdote and I'd assume both are enjoying what they spend it on. It's very unlikely that cutting the fags and booze would save you enough money to buy anything like a Ferrari.

Having said that I do think the biggest drain on most people's income are nights out which they could knock on the head easily enough.

muddypaws

Irishmale0399 wrote: »

Pay everything you can in cash....hurts more when you feel it and see it in someone elses hand.
Only go to the hole in the wall once a month or weekly depending on how you are paid. Take what you need to survive and thats it for the month shopping socialising wise. If you go monthly pack the money into 4 envelopes...week1...week2 and only open them to go shopping.

Also make a meal/lunch plan, make a shopping list and off you go for your one and only shop for the week.

Big kilo pack of mince.....
Monday & Tuesday: Spag bol
turns into
Wed. & Thurs.: Chilli con carne with rice
turns into
Friday & Sat: Chilli Lasange
Sunday: Mother or visit someone
Add a box of cornflakes, milk, breaad, butter, cheese, ham........less than €50 if you shop cleverly.

Please note......i dont live or eat as above, but if i had to i would.

Where do you shop? Less than €20 for that food.

LucidLife

UCDVet wrote: »

I get that it's meant to be an anecdote; but I'm not sure the maths would work out. The cost of a flash Ferrari is really high and the cost of insurance, tax, maintenance and petrol would be off the charts.

I know when I was young, there is no way I drank, smoked or gambled anywhere near the amount of money you'd need for a decent Ferrari.

I did tho...and know lots that did

RobertKK

You don't have to save much to own a Ferrari, I'm thinking of buying one this week.
http://www.amazon.co.uk/Ferrari-Italia-Diecast-Model-Colours/dp/B001I45MQ4/ref=sr_1_2?ie=UTF8&qid=1421008573&sr=8-2&keywords=ferrari

You can honestly then say you own a Ferrari.

heldel00

Ted_YNWA wrote: »

Have direct debit set up so never actually get to see money sitting in current account.

Agree. And AIB have an online account that needs 7 days notice for withdrawals which means I can't fritter away the bit of savings that I do have.
If I do feel I need to withdraw from savings, by the time it is available for use I generally have either changed my mind or have made other arrangements.
Works well for me.
(They actually have a 21 day account too but 7 day suits me best.)

Ted_YNWA

heldel00 wrote: »

Agree. And AIB have an online account that needs 7 days notice for withdrawals which means I can't fritter away the bit of savings that I do have.
If I do feel I need to withdraw from savings, by the time it is available for use I generally have either changed my mind or have made other arrangements.
Works well for me.
(They actually have a 21 day account too but 7 day suits me best.)

Exactly, do the same.

cabledude

Last week I moved my €35 per month mobile package with VF to a pay as you go deal with O2. I will get away with the €20 euro as most of whom I call are on 02. That is a saving of €15 per month.

I also got a letter from Sky telling me that if I wanted to continue watching the best of British TV, I would need to be relieved of €38 per month from February. I called them and told them to bugger off. I explained to them that the most of the channels we watch are available on Soarview/Free To Air satellite. They offered me 6 months @ €19. I told them no. Saving of €38 per month.

These two moves have saved me €53 per month which is €636 per year.

syklops

heldel00 wrote: »

Agree. And AIB have an online account that needs 7 days notice for withdrawals which means I can't fritter away the bit of savings that I do have.
If I do feel I need to withdraw from savings, by the time it is available for use I generally have either changed my mind or have made other arrangements.
Works well for me.
(They actually have a 21 day account too but 7 day suits me best.)

What percentage do you transfer?

Windorah

I shop in Aldi. I plan my meals and lunches for week so I have no need to "pop to the shop" at any stage and come out €20 worse off!

tim3000

I have a jar into which all of my spare changes goes into. I always pay in cash where possible just so I can put it into the jar. Its amazing how fast it builds up.

I have my bills set up that a small amount is sent by direct debit/standing order each week instead of one big payment each month or so. This means that you wont have a flat week after a particularly large utility bill.

I always do my shopping in Dunnes. They sometimes have money off vouchers when you spend a certain amount.

TheBeardedLady

Put money aside from my wages that I tell myself I can't spend, which usually works.

heldel00

syklops wrote: »

What percentage do you transfer?

Always 20% of fortnightly wages and husband has stopped smoking this week so if he keeps that up I will be putting the €70 he smoked in as well. I think it will encourage him if he can actually see what we are saving by him not smoking.
Would have saved a lot more than 20 % years ago but then mortgage and real life came along!!
The very day I started my job at 20 years of age my mother marched me into the bank and we set up standing order for savings. Have never known any different I suppose

Tearin It Up

When I was looking at ways to save a couple of years ago, I cut out buying daily news papers to read at work.

I don't know how much they are now, but when I was buying them 5 years ago €1.45 x 5 days a weeks x 48 weeks in the year works out to be over €348.

Rip off