Salaam,
Saving money is very important these days and I’m interested in learning how YOU are saving your money…
hmm well look at what you spend your money on and seek cheaper alternatives.
some things I have done recently
carpool for work- cuts my fuel costs in half
boot my digital cable and cable modem provider, and go for dish and dsl, and save $60/month
close vents and doors of rooms in the house which are not in use
getting energy efficient light bulbs and appliances
upgrade insulation
use fans + AC and not just AC alone..lower AC settings
pack lunch few times a week, healthier, cheaper than eating at the cafeteria
negotiate phone rates with the long distance carrier
i
etc etc
there are many other ways depending on your situation.
e.g. if you have a balance on high interest cards, transfer it to lower interest cards. Paying it off helps too. the rates on the cards are obscene, u save tons just by paying them off.
buy in bulk, take your pals aloing to costco and sams club and buy stuff u need, splkit it and split teh cost..so u get 6 paper towel rolls instead of 24, but u still save 40% on the price if u bought 3 2-roll packs somewhere else.
Get hold of this book and I bet it will change your spending habbits for life... THE RICHEST MAN IN BABYLON
[QUOTE]
*Originally posted by funguy: *
Get hold of this book and I bet it will change your spending habbits for life... THE RICHEST MAN IN BABYLON
[/QUOTE]
written by Saddam?
What you need to do is have a healthy well-balanced budget. Save on stuff that is unimportant to you and apply it to stuff that IS important. For ex., I don't waste money on getting my nails done ($40 or so monthly) or getting my hair dyed necessarily each and every month at the salon ($60 or so monthly) and instead use that $ towards things I really appreciate such as say a Gucci handbag or a pair of Prada shoes. In addition, $ that I have left over after paying for my (private university) MBA classes (yes, I am fully paying my way through school), is transferred every so often from my savings account towards mutual funds.
Trust me, it does add up and when you save, at least it's a wash. Nothing gained but nothing lost either. As the popular saying goes, a penny saved is a penny earned. However, in my case, I try to save as well and trust me folks, savings do come in handy on rainy days. Invest, invest, invest (if for nothing else, then in your future), and most importantly, learn to budget well!
I make my own meals, very rarely do I eat out any more.
Another expense that I have cut is books. I try to find books in the local library. It they are not available, I search the used-books stores for cheaper (than new) copies.
As regards, movies or entertainment, being extremely selective in the movies I watch in the theatre.
Hinna so what all have you found on this topic from elsewhere, care to share :) may eb helpful to others.
Thanks
by using e-bay to buy stuff i'd usually buy off the shelf or over the internet from some e-tailer..
plus selling stuff i don't use.. e-bay again..
alot of the above...espeicially the making meals at home or packing lunch...6-10 bucks a day adds up...
I used Ebay to buy stuff or the shadi like the floating candles, silk rose petals, printed napkins etc...i think i saved anywhere for 30-60% on that stuff.
Another way to see where you're spending money and help guide your cost cutting is to get programs like Quicken. My husband and I use it to assess our monthly fixed costs but also the variable ones like how much our trip to hawaii cost and what made it so expensive...etc.
Salaam all,
Just recently, what I've done is that I have transformed this lockable box into sort of like a 'piggy bank'. I put about 90% of the money that I make off of e-bay, part-time work, and monetary gifts that I receive from family in it. Sometimes I end up using some of the money..but Alhamdulilah I've been able to keep my hands away from that money for some time now. :)
I've always taken my lunch to school. However, because I take courses at night, I do end up buying dinner from halal restaurants downtown. I just don't have the energy to warm up dinner at 9:30pm-10:00pm! On the same note, I've always had the habit of taking bottled water from home- it makes me stay away from purchasing juice/pop.
I hardly ever go out to eat or watch a movie...I see my "crew" about twice or three times a year...if that...everyone's just so busy..so I guess I save money there too :D
Oh..a big thing is not buying clothes to suit the fashion trends...whether it be shalwar kameez or western clothing. I've got shalwar kameezes from 1997 that I haven't even worn yet....I've also got shirts and jeans from highschool...so I really don't buy clothes too often...that's definitely a plus!
Even for my wedding...we've really trimmed down the costs as much as possible..you can still throw a really nice event without spending loads of money.
You know, I think its just about spending on what you really need and not wasting money on stuff that you can really get by without. My parents have drilled that into our heads...they came here 32 years ago with nothing, and Alhamdulilah after saving every little penny, they are successful individuals in their own right. :)
Hehe..Fraudia, does that sum it up for you?
Hinna it sure does..
you are spot on about smallt hings that make an impact. if someone calculates how much u spend eating lunch out and geting drinks or water at work it adds up quick, with 2 ppl it adds up even faster, we try to pack stuff often, but I am kinda lazy in that respect.
but if you really think about it, 2 ppl spending lets say 5 bucks on lunch each day ..thats $50/week or $200/month verus packing lunch which would be what $2/day/person or $20/week or $80 for the month..thats $120 in your pocket.
small things add up, i went from cable and cable modem to dish and dsl, save $50+/month.
bundling insuranbce, car, house etc saves another $30/month
I am nto quite as financially disciplined as I would want to be, but see all these options and do as much as I can.
funguy i have not read your book yet, but will try to get my hands on it one of these days
Unfortunately i am not saving dollars (and irony is i am not saving even rupees :halo: ), but i sure can use some of the above solutions to start out. Thanks :~)
since i like to spent a lot of money so i'm trying to earn more and save that extra amount, ain't i a genius? :D
Salam all,
Hinna interesting topic.
I have my own theory when it comes to getting rich. Although its true that many rich people are tight with their money.
But on the flip side, people spend their intelligence and talents in ways to save money. And not towards making money.
Like my boss once told me.
Ghoncho(sic) take a piece o advice from me, think about ways to make money and not towards saving it.
Hinna- BTW what are you selling on eBay. I am also somewhat involved in it. I work part time for this eBay electronics liquidator store. I do consulting for them as a freelancer.
Take care all.
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*Originally posted by Ghoncho: *
Hinna- BTW what are you selling on eBay. I am also somewhat involved in it. I work part time for this eBay electronics liquidator store. I do consulting for them as a freelancer.
Take care all.
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beauty products, jewellery, perfume etc