Finances > Finances

What are some of your frugal tips?

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HSBC makes me a little nervous.....  They are going through a really bad time now having taking a HUGE hit with all the bad subprime mortgage debts they offered.  

My friend says PayPal also offers about the same rate.

Ah yes, depositing money into an interest bearing account. A
GREAT idea. But, how much interest? Your local bank and credit union pay VERY LOW INTEREST. Yes, you say, but I don't want to tie my money up in a CD. I might have to access it in case of an emergency, and then they will PENALIZE me for early withdrawal. Perhaps I should just leave several thousand dollars in my savings or in my interest bearing checking account....just in case. Haven't you heard? There's a NEW PLAYER now! HSBC Bank pays 5.05% APY on savings accounts! No, it's NOT APR, it's APY. That's Annual Percentage Yield, and it's a little higher than APR. Isn't 5.05% better than the 0.5% or 1.4% you're getting now? Check it out here:
Your money is FEDERALLY INSURED. If you decide to open an account, they'll make it easy for you by withdrawing the
money from your checking account, so you don't have to
mail them the money. You say it sounds scary? Well it's
not. I've already done it. It was easy. I put in $3,000
that was only getting 1.4% interest in my credit union
and it's amazing how fast the interest is accumulating.
No, I don't work for them and I do NOT have any stock in
their company.

Oh Yeah, one more thing I am doing:

Besides actually cutting back my costs (see above post, I am actually trying to SAVE money....

As I am paid weekly, I am now putting an entire paycheque (or as much as humanly possible) away during those 4 months a year where we have FIVE Friday's.  Based on my weekly take-home salary, I am actually putting away a couple of thousand dollars a year- just based on the nature of the calendar...  who would have thought?  LOL  

Now that I have quit smoking, I am now paying myself a MINIMUM of $5 per day into a jar, which I can not see the contents of.   Any extra cash I find myself in possession of also gets deposited into this jar.  After even a short time, I am not really sure how much is in there.  It will make a nice surprise over the course of time, when I can deposit it into an interest-bearing account, or to pay off more debt.  Sounds weird, but out of sight, out of mind and therefore, out of my spending hands!  LOL

I am very interested in hearing from other's who also found ways of paying themselves....  

Hi there....  my first post on this Forum.

I am quite new to the "frugal lifestyle" and find myself feeling pretty darn good about myself!

In the course of 2 months, I have saved several thousand dollars by the following:

1. Reviewing and downsizing my car and home insurance to more standard levels (saved about $1500 per year now!)

2. Gave up smoking (as of Valentine's Day!) in one year's time, I will have saved about $3000

3. Will be selling my expensive sports car (I also have a daily-driver, a Toyota) and pay off my mortgage with that money.

4.  Will save $2000 a year on garaging the sports car.

5.  Dropped down my monthly cable bill by $100 - going from the platinum package ($120) to the basic cable rate ($15)as I watch more DVD's than regular TV anyway!

6.  I do not rent DVD's at all....  I usually borrow them from my local library (about 2 blocks from my house) and those that I KNOW I will watch often, are those that I buy - on sale only.

7.  I take the commuter train into work each day, rather than driving.  Saves gas, mileage, and a lot of stress.  My employer subsidizes a portion of the monthly train ticket/pass.

8.  I dropped my fast DSL internet connection to a slower version of the same DSL - I same more than 50% and barely notice any real difference in speed.  

9.  I now brew my own coffee each morning and bring to work in a thermos.  I save a LOT of money doing this - instead of going to a coffee shop which charges $3 for a small capuccino.  

OK, those are the main highlights....  Considering just how short a time I have been thinking about being more frugal and saving myself a lot of stress, I am completely shocked at how much I have saved - both in immediate terms as well as over the course of a year.  I have not really "lost" anything at all, and have gained so much more....

I am very grateful for this site and all of you who have shared some wonderful tips and ideas.   Thanks!

Living in a smaller home has really worked for us. 14 years ago my husband and I built a 24'x 24'cabin (670 sq.ft.)that I designed for us.There is an upstairs loft under the eaves of the (8:12 pitch) roof that is the "Master Suite"-sleeping area (9'x10'6"), small full bath, closet, sitting area on small balcony (7'x 4')overlooking the main floor.
The main floor consists of 9'x 8' bunkroom (formerly for our children, now for grandchildren) and full bath, both placed at the back of the house. The left front is an 11'x 14' Living Room with built-in book shelves/media storage, while on the right is 8'x 8'6" dining area separated from the kitchen (10'x 8') only by a work counter with 4 counter height stools.
When people think about small homes they think cramped quarters with no room to turn around and feeling closed in. This is not true of our home nor of the many other homes I have designed since. I typically utilize a fairly open floor plan to visually expand sense of space.
Over time I have figured out ways to cut even more square footage without losing functionality or sense of spaciousness. Little houses use modest amounts of Earth's precious resources, and can still live very large despite their small footprints.
Our home is cozy and comfortable, well insulated, easy to heat and cool, easy to clean, attractive with enough room for the people, things and activties we enjoy. Doing much of the work ourselves and helping the professionals we did hire (electrician, plumber), we were able to build our home for less than $20,000 and paid off the loan in 4 years.We recently added a sunroom onto the back of the house because we now have 6 grandchildren under the age of 8 who need more room to play than our 2 kids did. We and our friends did all of the work ourselves and our only cost for 24'x12' addition was materials, recycled or bought at the cheapest sources.
We unplug the water heater when not in use, turn off lights when not in use, use compact flourescent bulbs, and an EdenPure heating unit. This is our first winter with the EdenPure unit and are hoping it lives up to its reputation as propane gas is getting more and more expensive. In summer, we keep the house cool with a small air conditioner placed in the upstairs window in sleeping area and have ceiling fans to circulate the cool air which is naturally going to go downward to the main floor.
I hope more people will try living in smaller spaces. It can be done very comfortably and affordably. We have had great fun all of our years here and intend to spend the rest of our years here.
You might want to give it a try!


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