Tips for saving up money?


JDTAY

Half Pepperoni, All Cheese
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I'm supposed to be saving up money for new living room furniture before I can save for Pyra. I hit a snag in May though where I got depressed and went on a PayPal spending spree, lowering my account to $55. I deleted my bank info from PayPal in order to get serious about saving again, but over the last month I had to buy over $400 in groceries because I kept overeating and running out, leaving me with $75 today before my monthly check goes in tomorrow.

At $20 saved a month, I expect to get my living room furniture in... about four years. And the Pyra would take about three years on top of that. :'(

Any advice? My current plan is to ask my psychiatrist about ADD medication, because it kills appetite, hence saving me grocery money. Plus my concentration really is poor and I am about 90 pounds overweight. I've taken the stuff in the past without problems. Perhaps you guys have more legitimate ways to save money though?
 
saving is hard, but it's good to create a budget and stick to it. give yourself some "discretionary spending" each month, which is good to save up for non-essentials like the Pyra or splurge in the moment, as well as a food budget and other bills budget. (or a furniture budget in your case.) going out to eat can get really costly, too. this is the program that i created for my family's finances, not necessarily all that amazing but just something i wanted to understand the inner workings of.

e.g. i'm finding it hard to save up for a 3d printer at the moment (it'd be more fun to buy a lower-cost thing like the rpi or something like that), but i have to think of my future happiness rather than just my current happiness :).
 
Do not use drugs to try and kill appetite. A doctor prescribing you ADD meds for that purpose, or any other for that matter, deserves a kick in the teeth. AFAIK that stuff is being handed out left and right in the US.

There's an abundance of dietary tips on the nets, just dive in.
Instead of regular snacks or fruit I like to munch on Kohlrabi and carrots. Instead of soft drinks I brew lots of tea.

Generally write down what you spend your money on, compare prices between shops and brands and look for alternatives. Don't go shopping on an empty stomach, you'll end up with impulse purchases. Stick to a list written at home.
 
Never had any problems saving money. I don't understand what is so hard about it. Just spend money only on essentials.
I give myself an allowance every month for fun stuff but most of the time I do not even use all of that.

I do not think that medication is the solution here.
Track what you spend your money on and check what it brought you afterwards and/or if you can substitute it with something cheaper.
 
$400 a month in groceries is exorbitant? Cure some depression with learning the joys of cooking. I say, Spend More on groceries than eating out. The food you eat is your life. As motivation, maybe think of that sweet spot where you're not only creating mental stimulation, superior taste, and control of your overall health, but also dramatically cutting your cost opposed to eating out/delivery.

Never use lack of time as an excuse to eat poor quality food. It's better to not eat at all than to take on calories you can't possibly burn alongside all of the health deteriorating ingredients included in most "junk food."

This one, I think, maybe you won't like so much as a suggestion... exercise.

Imagine perhaps a scenario where your appetite is warranted because you actually need calories?

SELL the things you know you purchased errantly.
 
I totally understand the eating for emotional reasons. It sucks and isn't exactly physically healthy either. What makes it worse is trying to eat right and ignoring cravings. Sometimes that goes very wrong. I wouldn't rely on side effects of medication. I do recommend people try drinking water a little while before they eat to prevent overeating. Also, drinking more water is a good idea for most people (I carry around a bottle of water all the time).

If you are sitting around all the time, maybe find some hobbies that keep you active and busy, or find places to go that give you something to do. That might reduce how much you eat since you are distracted. It doesn't need to be anything big. I often enjoy going outside and looking at the plants and animals (and avoiding the mosquitos at this time of year). I also sometimes spend hours poking around libraries and used book stores.

I also have other things I do that bring a bunch of stuff together, like going out and looking for or growing plants, lots of research, calculation, planning, creativity (there is something I need to finish painting that I keep neglecting). Details on that are personal, so I prefer to discuss that in private, if at all, but you might be able to find similar things for yourself. Doing that stuff keeps me from eating for no reason, although I try to keep almonds or something with me to munch on so I don't get overly hungry. Carrots and stuff, too, like @kuru mentioned.

I know this isn't a good or acceptable answer for most people, but just skip the furniture. I lived (alone) for years with almost no furniture. I think I had a futon and a folding chair...I used a trunk as a table. Other things were also multipurpose makeshift furniture. Milk crates can be used for a bunch of things, and you can stack them up.

A better answer might be too check out thrift stores or consignment shops for deals on furniture. Don't go the super cheap route or you may find you basically went for no furniture, but wasted money on stuff that didn't last. Depending on if you live with others and have guests, maybe just get a piece of furniture at a time instead of the set all at once. I am also fond of getting stuff I like even if it doesn't match. Maybe you can start with a good chair or recliner if it is just you.

I know it has been hot lately, but raising the temperature on your thermostat might save you a bit. We keep ours in the upper 70s during the summer. My comfort zone is the low 60s, which I get sometimes during the winter until others decide it is too cold. If it is cool outside, such as when it rains, or at night, open windows to keep cool. Also try unplugging anything that uses power except when you use it, or choose things that use less electricity, like a mechanical alarm clock, just remember to wind it.

Oh, and cold showers if you can handle it. I have spent extended periods in places with no hot water, however it had been years since I took regular cold showers. Lately I have been taking a lot of cold showers since I tried one a few weeks ago to cool off and found that not using any hot water was perfectly comfortable. I don't know if it will save much. I wish I could switch to a tankless water heater, although that will cost more in the short term, so probably won't work for either of us for now.

If you drive a lot, try to plan ahead so that you do everything you need to in an area at one time instead of making multiple trips throughout the week/month. If public transportation is a realistic and more affordable option, go with that. If you can walk or ride a bicycle where you need to go, even better (and healthier, and the environment and animals, etc.). Yes, I know gasoline prices are relatively low right now...

I probably have other suggestions I can make if I think about it later.



Never had any problems saving money. I don't understand what is so hard about it. Just spend money only on essentials.
I give myself an allowance every month for fun stuff but most of the time I do not even use all of that.
I am the same way when I am alone. My family has different standards. I lived in a townhouse for a few months (in Texas, during the summer) with no electricity. They have a hard time just trying to cut back on electricity use. I can live off of beans, eggs, and whatever is on sale. Others want the stuff they want.

Lately, whenever I save up my Pyra money something comes up, and I lose a chunk of it. Car or plumbing problems. Shit happens sometimes, and people need things. It is also easier to save money when I don't have to deal with others and their needs. Pet medical bills, for example (dog paw pad owwie, other dog torso spasms, cat ear hematoma, etc.). Saving money is easy, but it is hard, too.
 
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Shitposting is gratis!

If you can do without furniture from now until you get it, might it be something that isn't that essential?

Hack it or get a used type? What is it you want, a sofa?

As far as dietary tips go, don't buy in stuff you don't need and shouldn't eat, and that is savings right there.

Exercise gives a lot of benefits too, start easy and do it every day.
 
About furniture, you can get it really cheap, usually cheaper than groceries if you look on classified ads sites. In typical cities there are some ads about getting rid of old furniture. In academic centers, there are tons of ads from students who have rented rooms and now the owner wants it to be returned in state as it previously was (i.e. unfurnished) so they're giving furniture away or selling for price of 1-2 beers.
Now some practical thing: If someone gives Ikea-type furniture, don't take it. It's made of cardboard, it won't last more than 2 years. Heavy furniture made in 70s and 80s, although not pretty, is indestructible. I was a student too.

Recent years I totally abandoned buying larger amount of drinks. If you don't have complete diarrhea after a week drinking tap water it means that this tap water is good. In my city we have pipes in a really bad condition in some places, but the water itself is good.

I don't know will it work, but I found one method for eating: If I do any stuff instead of work, I can live a day on a toast for breakfast and instant soup as the second meal. The downside is that I have to manipulate others that I'm still doing something while everything is automated :).

Learn to do simple repairs. You'll save lots on plumbers/electricians/etc. Broken wire doesn't mean that electrician has to do it, you can pull second one into hose too. I'm living in my home for 20 years and I've never had to call electrician and plumber once.
 
If you can do without furniture from now until you get it, might it be something that isn't that essential?
That is my thinking, too. Be careful who you say that to, especially if the reason the conversation came up is because she is tired of not having a proper bed to sleep on. Yeah, I have first hand experience with that one.

I did come up with an idea for a single piece of furniture that worked as a bed, a computer desk (back before I wanted a standing desk), and a recliner. You could eat there, as many people do at their desk. I imagined it as the only piece of furniture people would need, and it would reduce the space people needed to live in. I tried to cram even more functionality into it , like a toilet, but those were taking things too far for most people, I think. I would still like to try making it some day.


About furniture, you can get it really cheap, usually cheaper than groceries if you look on classified ads sites. In typical cities there are some ads about getting rid of old furniture. In academic centers, there are tons of ads from students who have rented rooms and now the owner wants it to be returned in state as it previously was (i.e. unfurnished) so they're giving furniture away or selling for price of 1-2 beers.
Now some practical thing: If someone gives Ikea-type furniture, don't take it. It's made of cardboard, it won't last more than 2 years. Heavy furniture made in 70s and 80s, although not pretty, is indestructible. I was a student too.

Recent years I totally abandoned buying larger amount of drinks. If you don't have complete diarrhea after a week drinking tap water it means that this tap water is good. In my city we have pipes in a really bad condition in some places, but the water itself is good.

I don't know will it work, but I found one method for eating: If I do any stuff instead of work, I can live a day on a toast for breakfast and instant soup as the second meal. The downside is that I have to manipulate others that I'm still doing something while everything is automated :).

Learn to do simple repairs. You'll save lots on plumbers/electricians/etc. Broken wire doesn't mean that electrician has to do it, you can pull second one into hose too. I'm living in my home for 20 years and I've never had to call electrician and plumber once.
I prefer good quality, yet "ugly" or unfashionable furniture. Some of it is still kinda pricey, compared to Wal-Mart type stuff, but you won't need to buy it again. The reason this isn't where I got all my furniture is shipping those behemoths is costly.

I don't know what they do to the water here, but the quality is not consistent at all. That is pretty much all I drink, although we always have milk and tea in the house. I will occasionally get some juice or something alcoholic. Actually, now that I think about, everyone else has finally followed my lead by sticking mostly with water, and less frequently, tea (and coffee, which I don't drink). Tea and coffee can get expensive, so just stick with the cheaper stuff. I go for generic green tea bags, or better stuff when I have a little extra money. But, yeah, drinks can be a big expense.

Also good advice on the plumbers/electricians. I do have prior experience with such things, but it is all really easy to figure out. Sometimes you can get help from people in hardware stores, both employees and customers (I have been asked questions a few times when I was shopping, and have done the same myself). It can get pricey if you need to buy a bunch of stuff, but still cheaper than a specialist. I just wish those that do it themselves would find out the right way to do things. I hate coming across a half assed "repair" as I recently did with some pipes (which could lead to water damage and additional expenses, just as idiotic electrical stuff can cause injuries/damage/death).


Get a second savings account that is more inconvenient to withdraw money.
Setup a monthly transfer of your budgeted amount and simply forget that money exists.
That reminds me that I recently found out I have a little money in a PayPal account that I haven't used in a really long time. I was hoping it would be like what happened to Fry and his bank account in Futurama, but no.
 
Never had any problems saving money. I don't understand what is so hard about it. Just spend money only on essentials.
I give myself an allowance every month for fun stuff but most of the time I do not even use all of that.
I would have replied essentially the same... 4 years ago. Since that time my wife lost her job. We used to save hundred each months... Now we're glad we made theses saving because we're picking in the pot every month. And trust me no allowance at all. I havent bought new clothes in 4 years... We're just trying to stay afloat.

My tips for saving ? Earn more, and control your budget ;)
 
I have 2 bank accounts, one is just for savings and one is for everything else (spending).
I keep a small amount my spending account and when I get paid, I put the excess of my budget (> $200) in the other savings account.
 
Open a savings account and create an automated transfer so that every month a tiny portion is moved to your saving account, then it's not in your main account to spend
 
Tips ?
Don't spend money.
Here that is nearly impossible. Maybe if you are homeless and poor. Otherwise the government wants their cut off whatever you have. I figured this out when planning to build a place in the middle of nowhere, off the grid, for living off the land with whatever I grew/raised.

And here I was thinking that this was modern USA, not medieval Europe. Stupid me.

Edit: I do sometimes wonder if making it a monastery or something would help.
 
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I probably should've mentioned this earlier, but I get disability. Some rough estimates of my finances:

+$1200 - Yay monthly income!
-$350 - HUD apartment rent and utilities. Yep, living in the PJs.
-$250 - Groceries. At least, I used to be able to survive on this much food.
-$140 - Cable and internet. Might be time to cut the cable, but I do like sports.
-$100 - Cleaners come by twice a month at $50 a pop. If I just stopped being lazy about cleaning, this could be in my pocket.
-$25 - Cell phone service. On my older sister's family plan, so I get unlimited talk. Not bad.
-$various - Pharmacy bills come in at seemingly random times and amounts.

All this should theoretically leave me with $300 a month discretionary money. I eat out with my parents and other sister once every week though. Couldn't imagine not doing it, it's about the only time they see me. Still, most months I usually save $150 or more, May and June were just horrible exceptions for some reason. Maybe I don't need ADD meds, but I'm still going to tell my psych about my finances and see if there's something that could help.

I also have one more thing I should mention. $180 renter's insurance bill every November. It hurts.
 
$140 for Cable and internet? Holy **** that's expensive. I can get a 500/500 Mb fiber connection with television and landline phone for about half.

You can probably cut back a bit on groceries, but not all that much. Switch the sodas for water and tea and adopt a healthy diet (i.e. avoid fast-foods and too many snacks). Saves a lot. I estimate I typically spend about €160,- on groceries per month. That is all in, from food to cleaning supplies to toilet paper (for a single-person house-hold).

$350,- for rent and utilities is really, really low. Especially the rent part. I cannot imagine being able to get anything decent for that in the Netherlands. You would sooner pay €500,- to €750,-.

I'm not sure what the extent of your disability is, but if a job is a possibility, then your main bottleneck of $1200,- should be able to go up quite a bit. Also, you would spend less time at home which also reduces costs.

You are right on the cleaning part. Easy money there.
 
Dietary advise : stop eating / drinking products with refined sugars.

All this should theoretically leave me with $300 a month discretionary money.

In your situation I wouldn't dream of buying a Pyra but instead work on a financial safety net first. There are a lot of other less expensive (new or used) devices that are quite capable of entertaining you. Or even better.. enjoy what you already own

Good luck with whatever you decide :)
 
All this should theoretically leave me with $300
You've got a number you can work with now. As others have said, start a second savings account, put this $300 into it the instant your paycheque clears. Automate it if you can. You know you can survive without it, and not having it immediately accessible will help curb your spending habits: looking at an empty bank account is a very good way of convincing yourself to go home and eat. The fact that you reasonably estimate that 25% of your pay is available funds means you're doing pretty well. Your rent and utilities are really cheap, but that internet/cable package is terrible. You should easily be able to cut that in half and still get the sports.
 
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