How do you save money?

animum · 11-01-2015 09:13PM

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 · 11-01-2015 09:15PM

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 · 11-01-2015 09:21PM

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 · 11-01-2015 09:24PM

anncoates wrote: »

This is probably the crappest motivational anecdote ever.

See post #28.

Irishmale0399 · 11-01-2015 09:27PM

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 · 11-01-2015 09:29PM

Tugboats wrote: »

Claim dole twice in different counties

Yes boss!!

qo2cj1dsne8y4k · 11-01-2015 09:33PM

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 · 11-01-2015 09:34PM

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 · 11-01-2015 09:36PM

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 · 11-01-2015 09:36PM

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 · 11-01-2015 09:38PM

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 · 11-01-2015 09:40PM

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 · 11-01-2015 09:42PM

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 · 11-01-2015 09:43PM

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 · 11-01-2015 09:44PM

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 · 11-01-2015 09:46PM

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 · 11-01-2015 09:49PM

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 · 11-01-2015 09:51PM

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

heldel00 · 11-01-2015 09:54PM

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 · 11-01-2015 10:00PM

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

cabledude · 11-01-2015 10:03PM

Tearin It Up wrote: »

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

I did the same a couple of years ago. I have RTE News Now, Journal.ie, Sky News and Breaking News apps installed on my phone. All the news I need is in my pocket. I sometimes buy the Sunday papers, however.

UCDVet · 11-01-2015 10:04PM

pablo128 wrote: »

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

I'm not sure I follow. Did they both spend their money? One spent his money on a car, and the other spent his money on a bunch of smaller things?

Or do you mean me, personally?

IvaBigWun · 11-01-2015 10:16PM

Irishmale0399 wrote: »

Monday & Tuesday: Spag bol
turns into
Wed. & Thurs.: Chilli con carne with rice
turns into
Friday & Sat: Chilli Lasange

Turns into a fat dead person?

The above diet sounds horrendous. If budgets are tight then a big stew or a chicken casserole is much better for you.

UCDVet · 11-01-2015 10:17PM

LucidLife wrote: »

I did tho...and know lots that did

I find this really, really hard to believe. Maybe you're rich and you hung out with rich people. But regular people? Impossible.

A Ferrari is really expensive. And we said a 'flash' Ferrari - I'm assuming that means really nice/flashy or really fast? Either way, it's going to be insanely expensive.

Just buying a new Ferrari is going to be 200k. If you just lease one:
http://carleasingmadesimple.com/business-car-leasing/ferrari/

The cheapest I found on the first Google site was £2,747.07 per month plus VAT. I don't know how much VAT would be - but come'on - that is 3,500 euro per month.

And that doesn't include the VAT/tax/petrol/parking or insurance. I tried to find a site that would give me an estimate on the insurance for a Ferrari California - but I couldn't get a number. I'm sure it's ASTRONOMICALLY high though.

If you don't lease the Ferrari - you'd need 200k *before* you could start driving it at all. If you're taking home 30k per year after taxes, you'd have to save for seven years - WITHOUT SPENDING ANYTHING - just to afford that Ferrari. I don't see it happening.

3,500 is more than a lot (most?) people in Ireland make per month. TOTAL. I can't fathom how it's common for young guys to have that much laying around to spend on drinking, smoking and gambling. And we're not including insurance!

Mister Vain · 11-01-2015 10:19PM

ygolometsipe wrote: »

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?

I sometimes scratch my arse and then smell my fingers afterwards. Yep, I'm a big miserable arse scratching pioneer. I've plenty of money tho.

ygolometsipe · 11-01-2015 10:25PM

Mister Vain wrote: »

I sometimes scratch my arse and then smell my fingers afterwards. Yep, I'm a big miserable arse scratching pioneer. I've plenty of money tho.

Well its not too late to start drinking! better break arse related habits first or thing could get messy.....

skooterblue2 · 11-01-2015 10:27PM

Wearing Pants is a luxury. they cost money they wear out.... and then there are the arguement about who wears them....

I find it best if no one wears pants .....saves money too

heldel00 · 11-01-2015 10:27PM

ygolometsipe wrote: »

Well its not too late to start drinking! better break arse related habits first or thing could get messy.....

Depends where ya drink!

SPM1959 · 11-01-2015 10:27PM

What are the best savings accounts for interest?

heldel00 · 11-01-2015 10:32PM

SPM1959 wrote: »

What are the best savings accounts for interest?

Saw in another forum last night, can't remember which but, someone mentioned Nationwide UK. Haven't looked into it myself yet but will do

How do you save money?

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