How to Save Money

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I love saving money. Don’t we all? I’d rather save it than spend it. My wife, on the other hand, likes to save… spend… make… and even invest money. Of course, most of her investments are in shoes. GTPeach sent in her top five tips for saving money.

  • In investing, never spend more than you can afford to lose. The markets are volatile, and you could be in trouble.
  • Discern what you really need from what you think you need. It could save a lot per month. Do you really need that meal out? Can you honestly say you need that $4.00 cup of “coffee” from Starbucks?
  • Set up a budget. Designate columns for expenses, savings and needs. Then… stick to the budget!
  • Plan your shopping list before you go. Decide what you need, and how much you’re really willing to spend on those items. Keep in mind that often the brand names aren’t always better… but they are more expensive. Always eat before grocery shopping… you know as well as I do how much more junk you’ll buy if you are hungry.
  • Set money aside for savings from each paycheck. Even $20.00 per week adds up to a good chunk over time.

Anyone else that has legitimate financial advice, or credit advice… I’d LOVE to have them, and share them with everyone.

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