Comments on: 9 Killer Savings Tips

By: J. Money

J. Money — Tue, 03 Apr 2012 06:19:39 +0000

Yeah! That’s a great strategy for sure – love it.

By: PMToolsThatWork

PMToolsThatWork — Mon, 02 Apr 2012 19:43:51 +0000

Once I buy my car, I start immediately saving for my next one. This is similiar to #9 and avoids having to take out a loan (I keep my car for 10 years). The trick was to take what had been my car payment and continue it but put it into my new car account. By the time I needed (or wanted) a new car, I always had the money — and could purchase it with little or no loans. It is just a bit of will power, made easier by automatic deductions to savings.

By: J. Money

J. Money — Mon, 02 Apr 2012 18:42:46 +0000

Yup! Great heads up indeed :) I def. make sure it’s going 100% towards principal for sure – and USAA does an excellent job of making it easy and clear for people too, which is something I really respect about them. They don’t try and make it all complicated for you in hopes you give up and/or make a mistake. Great point though! Thanks for sharing it with us :)

By: nonegiven

nonegiven — Mon, 02 Apr 2012 17:05:24 +0000

@J. Money

Make sure your extra payment on your mortgage is going to principle. Some banks don’t want you to pay less interest so they apply any extra to your next payment, instead.

By: J. Money

J. Money — Thu, 29 Mar 2012 16:49:49 +0000

@AlyH – Yeah, ING is the exception in my book :) I’d totally be cool with having 7+ sub-accounts there too, cuz at least it’s all in ONE spot ya know? Super easy to follow and stay motivated. Glad it’s working for you so well!
@Modest Money – Yeah, check out ING Direct for those accounts :)
@Steve Zussino – Huh… those are my favorite categories so would be hard for ME to do, haha, but I can see how it can help :) I’d prefer to drop 10% off other expenses I don’t like as much though.
@ShesPrettyFrugal – Yeah go for it! I like that one too – I need to start following it as well :)
@Rich Uncle EL – 9 is one of the best for sure – I actually do that now w/ my old loand I had for $1,000 a month. Instead of just going back to “normal,” I now apply it towards my $2k mortgage pay off goal each month :) So now it only means I need to make an extra $1k to fulfil it every month! (still hard, of course, but a lot more easier to handle!)
@SavvyFinancialLatina – Heck yeah! Probably woulud have gone to alcohol if you hadn’t ;)
@Nononcentslife – Oh cool! That’s pretty impressive at 22 and now 25. I didn’t start paying attention to money till I was like 26 or 27! Haha… but thanks for stopping by :) Glad you enjoy the site!
@Kurt @ Money Counselor – Oooooh now THAT is a good one! So you can treat yourself back again to the original stuff you gave up, but then just cut out another? And I BET you start to phase them out over time too as not all of those habits will get picked up again after that time’s up. I might have to make a post out of this one good sir, thanks for dropping it by ;) (I’ll link back if I do!)
@maria@moneyprinciple – Yeah you did! Haha… well done my friend :)
@Michelle – Try out ING Direct for that if you’re looking for a good place to start – you can set up sub-accounts with them :)
@Young Professional Finances – What?? Wow – that’s A LOT! Very sexy!!! :)

By: Young Professional Finances

Young Professional Finances — Tue, 27 Mar 2012 20:22:55 +0000

Definitely great tips. My boyfriend just started going through his spare change jar and has only scraped the top of (it’s a huge vase) and already has $30! I’m guessing the whole vase has between $500-1000. It’s pretty crazy.

By: Michelle

Michelle — Tue, 27 Mar 2012 20:21:41 +0000

These are all great tips! I really want to start creating separate accounts for each goal so that I can keep track of them all.

By: maria@moneyprinciple

maria@moneyprinciple — Tue, 27 Mar 2012 20:01:08 +0000

Good evening, J. This is all great – short and to the point; most of these tried and tested. As to ‘tossing stuff in a jar’ I think that last year I did beat you – there was close to $200 in my jar!

By: Kurt @ Money Counselor

Kurt @ Money Counselor — Tue, 27 Mar 2012 20:00:09 +0000

I like ’em all! Here’s one I’d toss in the ring: Each week (or maybe each month–you choose), give up just one thing you spend money on regularly that’s unnecessary, a bit of a luxury or a vice or indulgence. Kinda like Lent. You’re only giving it up temporarily, for a short period, so it’s not too hard! And each period you choose something different, so you get your indulgence back soon. Less spending = more savings! Maybe your boss can take a little more off the top–like you say, you’ll never miss it.

By: Nononcentslife

Nononcentslife — Tue, 27 Mar 2012 18:16:37 +0000

I love your site! I started saving when I received a (small) inheritance at 18. Bought a (modest) house at 22 in early 2010. It is now paid down 20%. I’m pretty much starting over now – I just turned 25. Your site is super motivating!!! Thanks so much :)