What has been your most impressive money saving stunt till date?
on 03 January 2010
Question of the Month
Question of the Month is yet another effort by the debtcc team to enhance the community knowledge bank. It’s a monthly contest and every month a challenging question will be thrown before the members for responses. The best answer will be chosen collectively at the end of the month by the debtcc members and the admin panel of the site. The winner of this contest will receive a handsome reward of a $50
The purpose behind this idea is to encourage the members to share their real life experiences in dealing with the financial challenges.
Though different financial issues are being discussed across the debtcc board, but it doesn’t leave much scope to the members to share their personal experiences. Here is the place where it can be done, and also that the new members can get the innovative ideas to deal with their debts along with the conventional ones.
Question 14: What has been your most impressive money saving stunt till date?
Living on a budget is difficult but at times we are left with no choice especially when finances are tight. We'd like you to share what's been the most amazing money saving stunt for you till date.
When it was first suggested to me that I just got rid of all my credit cards and my debit card, I thought thats nuts. Id be free of debt and it would fix my credit but Id have no spending power. I would have to tackle this and even worse I would have to actually start paying them off. So In the hopes really of only trying to prove this was impossible, I began what became one of the smartest moves I ever made. I cut up every card! Ouch. All the store cards too. At that moment I was feeling a bit sick but as I called each lender to say I was closing each card and then ask them to set up payment plans, I felt empowered. (note here that the companies try to persuade you with tempting offers to keep your business when you want to close your card, but be strong!) I was shocked when I had a similar feeling to the feeling of the spending power but it was alot more rewarding, suprisingly. Depending on what you can pay will depend on the legnth of time it will take to get to a zero balance, but stick with it. the smaller the balance the happier I was and It was a challange. The debit card was hard. This was the last hold out for me but this is how you do it. At the beginning of each week If you restrict yourself to only taking out from the bank a certain amount of money and only spend that each week, then you dont need the card anymore Theres no temptation to overspend what you dont have. I was shocked at how fast all this helped improve my credit and I am debt free
and so happy today. If I can do this, anyone can!
Answer Posted by |debdecelie
The other answers worth mentioning are:
Answer 2:This is not a way of saving money for a long term but, when walmart quit thier layaway program i was kinda at a loss as to how to purchase christmas presents without using a credit card and scince walmart is usually were i shop for christmas i got the idea when i recieved a gift card for christmas that year for 50.00.
my problem with christmas clubs and sort is that sometimes i would get into a really bad jam and couldnt access it or wouldnt add money to it. so i took that gift card and everytime i went to the store i added 5 or 10 dollars to it every week. Now on the real hard weeks i would miss here and there but for the most part i did commit to it and by black friday i managed to save 300.00
I honestly HATE black friday shopping but when it comes to getting the best deals that 300.00 goes a long way when you can get child size pjs for 3.00 and adults for 8.00 i think. i stuck with what was door buster prices as gifts and still had some money left on my card to buy some groceries.
Answer Posted by | love_my_things
Answer 3:Well the first one for me was to get my payday loans paid off!!! That was a GREAT feeling But now I have saved my daughter $3030.00 on car repairs. She was having problems with her car and was told it would cost her $4000.00 to fix it. Not like she would be able to pay that kind of money, because she is laid off right now. So I called the guys that fised hubbys truck and asked if they would be able to look at her car for us. They did, free!!! Then they figured out what was wrong and told me they would only charge us for parts, seeing as she is not working right now and needs a good dependable car. So the cost of fixing her car is only $70.00. I almost cried. These are good guys (young guys) and who says the youth today only thinks of themselves? We ended up paying the bill for her, seeing as her unemployment checks dont go that far. Another money saving move we made, was facing the crazy shoppers the day after Thanksgiving. I needed a new camera and I got one that I was looking at before, but couldnt come up with the $140 before Black Friday. I got it on sale at 5am for $50 It was well worth facing the crouds for it. All together that day we ended up saving ourselves almost $500. And it was mostly stuff we needed around the house. I love a good deal
Answer Posted by | puddlejmpr
Answer 4:My money-saving strategy consists of 3 components. First, buying only what is absolutely needed (what I WANT is not even a consideration at this point). Second, making a list of needed items and absolutely sticking to it. Third, searching on the internet for coupons, clipping coupons from newspapers, and scouring sales ads. If its not on sale, I dont buy it. If I have a coupon, I may double up depending on the item. I have been able to get an oil change for $15 with a coupon, a free haircut, and 50% off service/maintenance for my car from stations trying to "drum up business". The economy is my enemy and I will not be conquered. I plan on winning this war.
Answer Posted by | aubrey
Answer 5:Goodwills, St Vincents Depaul, Salvation Army, Yard/garage sales, consignment shops and the list goes on. This is mainly where I purchase clothes for myself, my 4 young boys and my husband. I have used handmedowns thankfully my boys dont mind. It is really amazing what nice clothes people give away with tags also. If i dont buy my clothes there I go right for the clearance racks~the best way to save
If you dont shop any of these stores or do garage sales now is the time. Its a great way to save some money, I cant even imagine how much I have saved throughout the years.
I have to say this is an impressive money saving stunt that can be used by anyone.
I recommend it
Oh and there is so much you can find, whether it be furniture, kitchen accessories, electronics, just endless.
Answer Posted by | wendylynn93
Answer 6:I had both an expensive cell plan and full cable/internet package for my home. I decided to roll everything into one. I now have a Smartphone with a data package instead of internet and cable in my house. I also do not have a landline. Thus I am able to access everything I need from my phone. Ive found that anything which cant be done at home usually can wait until I get into the office the next day. Having basic cable has frankly been a blessing because I waste less time. Sometimes this arrangement is inconvenient because anything internet related must be done via my phone, but all in all Ive been saving about $100.00 /mo. because of it.
Answer Posted by | Eamon
Answer 7:Planning to be bumped.
We take two trips a year to Myrtle Beach SC to visit my parents. One at Christmas the other for Easter.
These are short 1 hour flights on Spirit Air from Atlantic City NJ to Myrtle Beach. A pair of round trip tickets cost 450-650.
Last year, having learned from past experiences that Spirit always overbooks we â€œbudgeted a couple extra days. Planning to return on Monday but not needing to return till Wednesday.
On the day of our return flight we offered up our seats at check in if needed. Spirit gave us two round trip tickets plus seating on another plane home on Wednesday PLUS they gave us an additional $200 each, because they accidently loaded our luggage and two $50 vouchers for future flights.
We are flying down to Myrtle Beach this Christmas on the free ticket vouchers and planning to offer up our seats for the return trip on Monday AGAIN.
As of now the first seat of tickets cost us about 650 â€“ the two comp free round trip worth 495- the $400 they gave us â€“ the two $50 vouchers puts us ahead by $345.00.
I hope we get bumped again this Christmas.
Answer Posted by | Badabing
Answer 8:The most impressive money saving stunt till date:
Daily, I would spend $10.00 to 20.00 a day on take-out/fast food, at least 5 days a week. That was $50.00 to $100.00 a wk. multipy it times 4, monthly $200.00 to $400.00. For the last couple months, I have only purchased fast food twice a month. I have even lost a few pounds. Talk about saving money.
Answer Posted by | Sandra Escobedo
Answer 9:WHEN EVER I HAVE A 5 DOLLAR BILL IN MY WALLET I PUT IT IN A WATER JUG AT HOME.I WILL NOT SPEND A 5 DOLLAR BILL AGAIN. YOU WOULD BE SURPRISED HOW QUICKLY IT ADS UP. A GIRLFRIEND OF MINE DID THIS FOR 3 YEARS AND TO HER SURPRISE SHE SAVED $12.000 WITHOUT EVEN MISSING IT. I HAVE A LONG WAY TO GO BUT I WILL STICK TO IT..
Answer Posted by | bellhopmonkey