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Thread: if you had to pick one money tip, what is your best advice for money management???

  1. sassypants
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    #1

    if you had to pick one money tip, what is your best advice for money management???

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    Im looking at setting up a budget of sorts, but really just trying to become a bit more financially savvy


    if you had to pick ONE money tip, program, idea, or advice to give, what would it be?
    rocket_liz is my wifey
  2. Senior Member
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    #2
    Read Let's Get Real About Money by Eric Tyson. I had to read it for my microeconomics class last semester. There's a lot of good info in there.
  3. Mombie.
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    #3
    Learn your stores. Seriously. I've walked out of Target with formula, diapers, clothes, food, etc for less than $60. And I'm talking the Huggies/Pampers boxes of diapers and the Gerber formula, all name brands. Stacking coupons, and using store programs (like Cartwheel and their Red Card) save so much.

    It's not so much money management as a way to save money to put into what ever management system you end up using.



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    #4
    Spend less than you make! I only use credit if I can pay off the bill that month.
  5. Dancing Backwards in High Heels
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    #5
    If you are bad at spending money on not "necessary" things, my best tip is to avoid places that you spend money at. If it is amazon, block the website. If it is the mall, don't stop there. If it is spendy coffee, find a cheaper alternative. I used to LOVE starbucks coffee, but then I added up how much I was spending on it, and changed to a maxwell house brew I can make at home in my $10 coffee pot.
  6. Senior Member
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    #6
    Have multiple accounts for different subjects. We have 4 separate accounts -bills, spending, vacation and savings. Bills you have to figure out what you spend each month and make sure that much goes into that account. The rest split up for your priorities. It works for us and we always seem to have extra money left over each month because of it.
  7. sassypants
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    #7
    Quote Originally Posted by BiggyBiggs View Post
    Have multiple accounts for different subjects. We have 4 separate accounts -bills, spending, vacation and savings. Bills you have to figure out what you spend each month and make sure that much goes into that account. The rest split up for your priorities. It works for us and we always seem to have extra money left over each month because of it.



    Right now I have 3 accounts
    savings, checking, "special savings" and taxes. Since One of my jobs requires a 1099, I save 20% of each check from that in taxes, special savings is if I get myself anything nice that I really want.....travel, new bike, designer bag or make up, new backpack etc....savings gets 30%, of whatever paycheck + any extra change, and that is what is building as my emergency und and checking is where everything comes out of. I dont want to piss off my bank with too many accounts though, so I keep a running number on what I spend on each catagory a month
    rocket_liz is my wifey
  8. sassypants
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    #8
    Quote Originally Posted by HisJuliet View Post
    If you are bad at spending money on not "necessary" things, my best tip is to avoid places that you spend money at. If it is amazon, block the website. If it is the mall, don't stop there. If it is spendy coffee, find a cheaper alternative. I used to LOVE starbucks coffee, but then I added up how much I was spending on it, and changed to a maxwell house brew I can make at home in my $10 coffee pot.
    Philz Mojito Iced coffee


    my kriptonite
    rocket_liz is my wifey
  9. Senior Member
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    #9
    The one thing i've learned is always pay yourself first. Think of a savings account as a bill and pay it before paying any other bills.



  10. Account Closed
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    #10
    Quote Originally Posted by WiggleWiggle~ View Post
    Philz Mojito Iced coffee


    my kriptonite
    Don't deprive yourself. You'll kill your efforts.

    I'm not familiar with Philz, is it a cafe type place? Can you budget a certain amount and buy yourself a gift card to there and only use that?

    I do that with Starbucks. I only use my starbucks card - I only reload it every three months with a predetermined amount or with gift cards I get as gifts. If I don't have funds on the card, I don't get starbucks. But I also don't feel deprived.

    A big thing for us, we don't spend any cash in a denomination less than a $5 bill. All ones and change go into a giant pickle jar and once it's full, we decide what we want to do with it. Typically, it's vacation fun money. But you could use it for anything you wanted. It stops and makes you think if buying something is really worth breaking a bill for.
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