HeadClot88

Terrible at saving cash - How do you guys do it?

29 posts in this topic

I heartily reccommend Sgt. Crunch's advice. http://daveramsey.com is the home, but do a search anyways so you can see different opinions about his approach.

 

Here's a quick way to set up a budget.

 

Before the month begins, list the income you will be earning that month. Even if you don't know the exact amount, you probably have an idea of what you can expect. (There's a different way to do this if you're on commission.)

 

Next, create categories in descending order of importance and assign a dollar value to each one. This is what you are allowed to spend on that category for the month. It's called the "envelope system." Every dollar gets spent before the month begins. Don't worry, it takes a few months to get the categories funded at their correct levels, so don't beat yourself up if you screw up and think $100 for groceries will get you through the month.

 

For example, Income = 2000.

 

Tithe (if you're religious) - 200

Food - 250

Utilities - 200

Transportation - 350

Rent/mortgage - 500

Perscriptions - 15

Eating Out - 50

Student loan payment 150

Insurance - 60

Clothing - 50

Gen Con Fund - 50

Blow money - 100

Christmas - 25

 

So once you spend your 250 for groceries, you're eating leftovers and digging in the pantry for the rest of the month.

 

Note that for something like Kickstarter, you don't have a category. My Kickstarter money comes out of my Gen Con fund. Yes, that may mean I won't get to take advantage of a $10 Ebonwrath. Being a responsible adult means setting priorities, and making sure the electric bill gets paid is more important than precious plastic.

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Seriously, the Dave Ramsey course is the best money I've spent in years. We paid off our car a year and some months early with that.

 

No new debt. Period.

 

Make a budget and stick to it.

 

The way I do this with hobby stuff is that I have a small budgeted amount ($30) of guilt-free play-money a month. Everything else is named before I get it. Within my play money, I start looking at purchases as percentages of what I get to spend in a month. "Is that new shiny thing REALLY worth ALL the money I get to play with this month?" Usually the answer is no.

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making sure the electric bill gets paid is more important than precious plastic.

 

Blaspheme!

 

 

 

 

 

I kid, I kid

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Ok, Just posting this for some clarification.

 

I still live with my parents - However I pay rent and it is less than it would cost if i would be on my own.

 

So what I am looking at is mainly -

 

Medical expenses - Varies by prescription or co - pay

 

Rent / Utilities - 100.00 / 60.00 on average

 

Fun Money - 50.00

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You must account for every dollar you take in. Give it a name. Otherwise you will spend it willy nilly. What you have here is a start but in no way is this complete. Doug's is far more comprehensive and what you should aim for. Next if you have debts pay them off after you have handled your needs of food, water, shelter, transportation.

 

 

My last point is regarding your bad habits and fixing them, something I have recently done. When it comes to your Hobbies, is your hobby collecting books, or playing games. If it is playing games then look at getting rid of all of those superfulous books that you will never use. I own every edition of D&D so far, Cyberpunk 2020, 7th Sea, and the Star Wars RPG and that is it. I've paired the collection down by half. I sold all my other books. I'm now down to 2, from 4, armies for Warhammer 40K, and down to 3 from 6 for Fantasy battles. I sold decades of magazines and gaming stuff, but I still have a long way to go though.

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You must account for every dollar you take in. Give it a name. Otherwise you will spend it willy nilly. What you have here is a start but in no way is this complete. Doug's is far more comprehensive and what you should aim for. Next if you have debts pay them off after you have handled your needs of food, water, shelter, transportation.

 

 

My last point is regarding your bad habits and fixing them, something I have recently done. When it comes to your Hobbies, is your hobby collecting books, or playing games. If it is playing games then look at getting rid of all of those superfulous books that you will never use. I own every edition of D&D so far, Cyberpunk 2020, 7th Sea, and the Star Wars RPG and that is it. I've paired the collection down by half. I sold all my other books. I'm now down to 2, from 4, armies for Warhammer 40K, and down to 3 from 6 for Fantasy battles. I sold decades of magazines and gaming stuff, but I still have a long way to go though.

 

Thank you for this -

 

I have tons of 3.0/3.5 stuff as well as dozens of other systems. I pretty much 'collect' books :/

 

Most of the stuff is in MINT Condition some not so much... I am willing to sell it. Where would be a good place to do this?

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Try Noble Knight Games. Just Google their name.

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Wait… you're asking gamers and mini-painters how to save money?

 

Am I the only one who sees the futility in that? :devil:

 

My budget screamed at me. I told it to be a man and take the pain for the kickstarter.

 

I had to raid my replacement digital projector fund for this. Now I'll have to make do with this . . . puny (makes disgusted face) 42" TV. God, I can't even stand to look at it after getting used to 110" of AMAZING. Pathetic, wretched, vile pretender. Fiend of liquid crystals!

 

Well, amazing until it came down with a case of Terminal Pixel Death. But in its time it served with stoic grace, unimpeachable honour, and it shall have a funeral worthy of a hero to kings. Small children years hence shall hear the name BenQ and know that here stood a legend, here were cast away the shadows of inferior quality, here we feasted on popcorn and watched Rocky on blu-ray.

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Wait… you're asking gamers and mini-painters how to save money?

 

Am I the only one who sees the futility in that? :devil:

 

My budget screamed at me. I told it to be a man and take the pain for the kickstarter.

 

I had to raid my replacement digital projector fund for this. Now I'll have to make do with this . . . puny (makes disgusted face) 42" TV. God, I can't even stand to look at it after getting used to 110" of AMAZING. Pathetic, wretched, vile pretender. Fiend of liquid crystals!

 

Well, amazing until it came down with a case of Terminal Pixel Death. But in its time it served with stoic grace, unimpeachable honour, and it shall have a funeral worthy of a hero to kings. Small children years hence shall hear the name BenQ and know that here stood a legend, here were cast away the shadows of inferior quality, here we feasted on popcorn and watched Rocky on blu-ray.

 

I hate to say this but I am enjoying this!

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Wait… you're asking gamers and mini-painters how to save money?

 

Am I the only one who sees the futility in that? :devil:

QFT

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I'm guessing gaming things are your biggest pitfall? If you have a lot of gaming stuff that you no longer use, consider trading some of it in either at your game store (if they allow it) or go online and check out Noble Knight. Steve has traded in tons of older games to NK for online credit..but they also do cash trade if you're really strapped for cash.

 

Then take a look at where the rest of your money is going. There's not much you can do about rent/mortgage, utilities, insurance and other stuff really. But take a look at things like your internet service, phone and cable. There might be a plan that will save you money if you're not coming anywhere near your usage limits.

 

There's also plenty of ways to save money on food. Not eating out as often or at all is a big one. Learn to cook. It is not only a rewarding pursuit, but a great way to save money. Buy bulk groceries instead of convenience-packaged single-serve items. Pack a lunch for work rather than visit the drive-thru or vending machines. This will also eventually lead to improved health.

 

Shop your local thrift store. There's no reason to be ashamed to wear secondhand clothes, and Goodwill is not the disorganized castoffs sale some people imagine it to be. They have housewares and furniture also, all cleaned, checked and in some cases reconditioned....and their foundation puts good people to work.

 

And finally, like others have said, set yourself a goal and start a piggy bank. For the first two weeks, at the end of your day, empty all your coins from your wallet into the jar and see how quickly it fills up. If you find the jar isn't filling up quick enough and you're not walking around with an empty wallet, for the next two weeks try adding every $1 bill from your wallet to the jar at the end of your day. Two things will happen. You'll fill up a jar quicker than you imagined, and you'll find that in order to avoid turning your larger bills into food for the piggy bank, you will change those impulsive shopping habits.

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I find it ironic that this thread is running the same time as the Kickstarter... :p

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Well if you don't save money, you can't blow it in big chunks when you meet a truly compelling bargain!

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+1 for Dave Ramsey. Best investment I ever made.

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