Saving Money Tips - Live Cheap

[Arta Montero]

Hi all,

I know we all talk about how important is to save money. My husband has been

challenging me about saving money and he tells me that’s where the ultimate freedom comes from by being a able to live in very little.

He thinks that making more money by default causes more work because one has to manage the assets and money and he thinks the ultimate freedom comes from figuring out a way to live on very little.

Some of the things I started doing that I think are having a significant impact include not going grocery shopping till refrigerator is empty and also plan the cooking so we don’t cook food on top of food and that way manage from a grocery standpoint. Also, purchasing only fruits that are in season seems to help. These items have helped me but in general we have a mortgage for about $2200/month plus other typical bills such as water, electricity, gas, internet that add to at least 3k. We feel that we working ourselves to death just for the sake of paying these high bills.

We feel that we make money for the sake of spending it and wondering if others can share tips as to what they have done to help save money so that this way one doesn’t have to work that much and still feel free from a money standpoint.

Thanks

[Henry Clark]

Not knowing your situation (income stream, kids, family, job security, housing cost relative to locale, etc) I'll throw out darts at the board, which most will not apply since we don't know more.

1.  Dave Ramsey budget plan.

2.  Your on a Real Estate forum.  Your $2,200/month; try to get it down to zero.  House hack or Apartment hack.  Look for a 6 to 10 unit apartment complex to live in and own.

3.  I probably misread, but your utilities are running $3k?  

    -  Communications and internet, move to Whatsapp.  Cut who ever is using excess internet service and phone, back.

    - Electricity and Gas, insulate.  Most peoples utility bills are the highest over the winter.  Insulate the pipes, windows, doors, etc.  Put more carpets on the floor.  Put heavy drapes over the windows.  Check all equipment, hot water heater- old?  turn it down.  insulated?; furnace- are ducts air tight or need insulated; HVAC;  Turn heat down at night.  Etc.  Do a youtube on insulating your house.

    - Water,  the biggest water uses.  Bath, clothes, kitchen.  Bath, everyone does quick showers.  Clothes, don't wash unless full loads.  Kitchen, don't use dishwasher- get a dish drying rack and wash from sink.

4.  Food- Eat out only once a week for fun, even for lunch.  Sorry for the lengthy food section, I love food.

   -  Shop at Asian or Spanish grocery stores.  

   - Don't wait till your out of food, actually buy ahead in Bulk.

      -  Buy 50 lb rice ($.65/lb actually in 3 lb bags on sale) and/or beans.  About 1/2 price of 1 pound.  Get some tupperware and seal up in 10 lb increments.

      - might sound gross.  Go to your local animal feed store.  Ask them for a 50 pound bag of green split peas.  This is super cheap and edible.  I love soups.

      - Buy 50lb bags of potatos, carrots, onions, etc.  This is incredibly cheaper than off the shelf.  Talk to the Produce manager and special order.  

       - Meat, I love meat.  Buy big Pork Tenderloins.  Cut a 10 pound, into several 2 pounds into freeze bags.  Hamburger- look for Arm Roasts for sale.  Have the butcher grind it up into hamburger for free, package at home for freezer in bags.  This will be the equivalent of 93% lean, for about $1.50 per pound cheaper.  Chicken- buy Leg/Thigh 10 pound packages and break up into smaller freezer bags.  Right now a lot of Beef cuts are on sale, since the restaurants can't use them.  I can buy 6 to 12 pound restaurant packages of steak for really cheap.  Tbone $7.99;  Rib eye $8.99;  Tenderloin $8.50- this is $20 at the grocery store.  Brisket for $3.00 per pound.

   -College days.  Buy a huge cheap ham.  Cut it up into smaller freezer bag 2 pound sizes.  I used to live on ham for 2 weeks, breakfast/lunch/dinner.  With eggs, sandwiches, soups, chili, pasta, you name it.

-  Eggs are really cheap right now.

-  Asian stores, buy large frozen resealable bags of Gyoza, mondu or pot stickers.  Make a soup of vegetables, carrots, cabbage, onion, green onions, bones from above and cook for a while.  The last 5 to 10 minutes turn the heat way down and put the frozen Gyoza in.  Don't stir to much or they will break.  This makes the best and easiest soup in the world.

Key is to set the budget so you know where your biggest costs are.  For example, I talked about food above. But if it is only 5% of your total spending, your wasting your time on it.