What Tricks Do You Use to Force Yourself to Save Money?

While most of us hope to have money put aside for a rainy day fund, a major purchase or investment down the road, or a retirement fund, it's often easier said than done. Striving to save money is not the same as actually saving money.

So how do you force yourself to save some of your hard-earned cash? What tricks do you use? And what has tripped you up along the way -- i.e., lessons learned that others can benefit from?

We want to hear from you! So please, help your fellow Tip Heroes and share your tips and tricks on saving money with the community by posting a comment below. And thanks for being a Tip Hero!

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Comments:

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if i have easy access to my money, i'm likely to spend it. i'm too lazy to deal with transferring money from one account to another to get it out. so i put money i want to save into my ING account which is separate from my regular bank account. once it's there, i won't touch it and i get a pretty good interest rate on it too.

Posted by steve z. on July 23, 2009 11:39 AM

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I love love love shopping and I could afford to when I was employed. But a recent lay off has made me reevaluate my spending habits. Now instead of 'entertaining' myself with trips to the mall, I try to avoid them altogether.

I know I have plenty in my closet to keep me clothed and happy, so I really don't "need" the latest trends, but when I see them I really "want" them. I know myself, when I see them I want them. So to avoid spending on unneccessary items, and consequently boost my savings or now survival money, I simply don't shop.

Posted by jill on July 23, 2009 11:43 AM

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All my coins go into a special jar. I take it to my bank which has a free coin-changing machine, and turn it into currency, which is my "rainy day" money.

Posted by Joan Mayo / Rockville MD on July 23, 2009 2:02 PM

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I rarely carry cash because it just burns a hole in my pocket! But the cash I do carry has become for emergencies only. Anytime I want to grab that latte' or order take-out I ask myself, "By getting this, what are you NOT getting down the road?" This could be anything from that top-of-the-line mixer you've been wanting up to a bigger down payment on a new house.

When I think how I bargain shop and clip coupons, then go drop $8 for lunch, it finally clicked in with me that I have not "earned" that lunch by saving. All I have done is completely erase the proof that I am saving.

Posted by Michelle on July 23, 2009 2:37 PM

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I decided to open a savings account with a credit union. And I knew if I had at least half my check deposited in that account I wouldn't be able to access that money through the ATM. So that meant if I really wanted the money I would have to go into the bank to do a withdrawl. And so for the past 6-months I have been doing good about not touching the money.

Posted by LexyRae on July 23, 2009 2:39 PM

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I leave the checkbook and cards at home. Sometimes window shopping is just as much fun as actually shopping but without buyers remorse. Then I take $20 out of any incoming money from my checks and my husbands and save it. Its not very much but after a while it begins to add up and it gets addicting watching it grow. $20 isnt really enough to hurt the budget either.

Posted by anonymous on July 23, 2009 4:09 PM

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I find it is much harder for me to part with cash so we have switched to using cash. We have taken our credit cards out of our wallets and put ourselves on an envelope budget system using cash. We often ask ourselves if we need something or just want it.

We put all of our spare change into a piggy bank that we can then spend on whatever we chose. We both think that is is important for each person in the family to have a small amount of spending money they don't have to account for.

Doing this means that we have to plan our purchases rather than buy things impusively. We turned in all but one cable box and regularly analyze our bills to see where we can cut back.

Posted by Lily on July 23, 2009 4:09 PM

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We recently dropped our land-line. We still have internet services alone which is about 41.00 a month savings. But since we have 1 child still at home we decided to get her a cell-phone. Our service only charges 10.00 for the extra line and we signed up when they ran a special "free activation for new lines." At the same time we renewed the rest of our phone plans and got replacement phones for $.01 and hers for $20.00. Make sure you have a plan that has free mobile to mobile and nights and weekends.

Posted by anonymous on July 23, 2009 5:54 PM

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I allot a certain amount of money and have a separate envelope for each item I need money for the week. I refill them each week and keep in my purse for gas, pocket money, lunches, food shopping, etc.

This system makes me very aware of exactly how much I'm spending as the envelope gets thinner and thinner. When I spend too much and use up all the money from say the lunch envelope, I may borrow from the gasoline envelope. But I think very careful about it because then I will have less for gas and may have to cut out fun trips. I have learned not to borrow too freely from another envelope.

Posted by Dee on July 23, 2009 6:05 PM

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I receive many catalogs selling "stuff". Unique stuff, cute stuff, lovely stuff, etc.

I choose what I would like to have, fill out the order form and total it up. Then I put it and the culprit catalog on the kitchen counter for at least 1 week. I get so sick of looking at it I almost always throw it all in the trash. There's no telling how many 100's of dollars I have saved.

Posted by anonymous on July 23, 2009 7:00 PM

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The most important thing in saving money is to PLAN for saving money.
Before each month begins, I create a detailed budget ... and "savings" is a line item near the TOP of the budget. The first thing I do after receiving a paycheck is to transfer the amount budgeted for savings to the savings account. I keep a spreadsheet called "Allocated Savings," which has columns for the different things I'm saving for -- emergency fund, taxes, car maintenance, car replacement, home maintenance, vacation, etc. Every dollar in the savings account has a purpose, and that keeps me from dipping into it on a whim!

I pay regular bills online, then take out cash to go into my envelopes for groceries, personal items (haircuts, toiletries, and such), gifts & entertainment, and a little bit of money for "whatever." When an envelope is empty, spending is DONE for that category until the next payday. The combination of (1) detailed budgeting and (2) using cash for day-to-day needs, has enabled me to save a pile of money, and I had never been able to save anything before!

Posted by Old Gal on July 23, 2009 8:17 PM

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One way I save which is hard in this economy is to put at least 10% in my 401k and also get a checking account with Bank of America which has a program called Keep the Change. every time you use your debit card for a purchase the change portion is rounded to the next dollar. you won't miss it believe me. in the last 6 months I have accumulated $137.00 and this is all change and I didn't miss it

Posted by charles on July 23, 2009 8:36 PM

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We keep a written budget with about 20 categories including saving for large purchases. We put paychecks in the bank and take out cash for groceries, stamps, and a small amount of personal spending only. Once that's gone, it's gone.

Like another poster we keep a change jar. Our eldest is away for the summer so we take his share of grocery money and set that aside as well. Both of those are earmarked for specific things.

Posted by oddfox1 on July 23, 2009 8:55 PM

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I have been sending monthly contributions to purchase stock directly through the companies' transfer agent, not through a 'discount' broker; Go to computershare.com and you will save a lot of money on admin. fees, transfer fees, etc. and there are tons of companies from which to choose!

Posted by anonymous on July 23, 2009 9:08 PM

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I've started taking a snack and drink with me whenever I go out to run errands. That way I'm not tempted to "drive-through" or overspend on groceries because I'm hungry!

Posted by anonymous on July 24, 2009 12:46 AM

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I plan ahead meals for the whole week,that means that I only do one trip to the groceries once a week. that really saves you a lot of money, mostly every time we go to the store we end up over spending.

Posted by anonymous on July 24, 2009 2:09 AM

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I budget a certain amount to cover all non-bill expenses for the week, then try as hard as possible not to spend it so I can carry it over to the next week. If I have leftover cash, it goes into savings for large-object purchases.

Yes, I get the pretty nuisance catalogs, too. When I find an object I want, I check Google and Yahoo Shopping, and Shopzilla for lower prices. If I can't find a comparable object at a lower price, I order the online catalog and wait for the spam which inevitably arrives offering X% off on our entire catalog. These never arrive by mail!

Posted by anonymous on July 24, 2009 8:25 AM

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I pick one day a week and stay home...not only do I save money, I relax, do projects that have been put off, prepare cheaper meals with planned leftovers, plan a visit with a neighbor.

Posted by anonymous on July 24, 2009 9:51 AM

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I strech many diff recipes with refried beans i. e. (with mashed beans), meatloaf , hamburgers, used as thickener for chili,

I strech good coffee with a cheaper blend by 1/4 to 1/2 depends on your taste buds,

box cereal can be done too for people with lots of kids.

Experiment this idea mix and match like products

Posted by anonymous on July 24, 2009 10:15 AM

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Personally I save 10% of what ever my check is written out to me for on a weekly basis. For instance IF the pay check is for $500, I save $50 of it in the bank. Do that for 52 weeks in a year and I have $2600 plus interest. It adds up quickly and now I have money to count on IF something goes bad,I get sick OR if I should be laid off.

Posted by Paula Jo Carr on July 24, 2009 12:39 PM

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My favorite way to save is to stay out of stores. Otherwise that temptation to spend arises quickly. There always seems to be a justification for spending. I remind myself that I have what I need and no sense spending more

Posted by anonymous on July 25, 2009 1:41 PM

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I have a detailed spread sheet budget. We've just endured yet another pay cut for my husband. We always pay bills and set aside money for savings every month. We also take semi-annual and annual bills and set aside monthly portions for them so that when they come due, we have the money in the bank and don't have to panic about where the money will come from. We have a set amount of spending money to cover groceries, household needs, entertainment, dining out, Misc., "whatever"/unaccounted for allowance that doesn't have to be explained, auto maintenance, etc... Once it's gone, it's gone--no more spending. I keep every receipt and track all of the spending so we always know where we stand. I always shop sales at the local grocery stores and use coupons on top of sales. I buy in bulk at Sam's and Costco and vacuum seal meats in dinner sized portions. I DO keep in mind that sometimes prices at Warehouses are NOT AS GOOD as store sale prices. I keep a running list of prices of common items I buy at the warehouses, so that if I see them on sale at grocery stores, I can compare the prices. What trips me up--taking my husband with me shopping--he has the "impulse buy" bug. He's coming around slowly, but I do much better making shopping MY chore/contribution to the household. Also, to save money--I use freecycle websites. They are great! You can join a local group in your town/city. People offer things they don't want--they don't sell them--they give them away. You can post wanted items too. For example, I had the connector hose piece that runs from my spigot to my hose reel burst the other day. Instead of buying a new hose reel or hose piece, I put an ad up for wanting a hose. I had several replies from people wanting to get rid of old hoses. I just need to get a male connector end and I have solved my problem for $2, rather than $10 or more!

Posted by anonymous on July 25, 2009 4:32 PM

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i try to set up my budget so there isnt a lot of leftover money, jsut 30.00 or so. that 30.00 is my one lunch out a week-i love chinese! :) and a friend goes with me-the rest is gas money.

if there is any left at the end of the week-it goes to savings. right now i am saving for new tires for my 3 yr old vue, in addition to the regular bills, cable, phone, etc.

i shop at sam's club about every 6 weeks or so -around 100.00 worth-and aldi's or save a lot for the canned goods.

Posted by grammy vail on July 25, 2009 4:54 PM

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I'm retired and my wife and I both smoke. I recently bought an inexpensive tool to make my own smokes. Now I buy a bag of tobacco @ 29.00, 3 bxs. of hollow tubes @ 12.00. This gives me enough for 3 cartons. Thats about $14.00 a carton. Thats well over a $20.00 savings. Do the math. If your going to smoke at least you can save some $$$.

Posted by Jim HILL on July 27, 2009 5:12 AM

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I personally am not a big fan of a certain big box retailer but love it's competition. So in order to save money I have begun shopping at the store I dislike for my groceries etc. This way I don't wander around looking at other items, I simply get in and out as fast as I can.

In addition, wherever possible I have tried to switch to non-brand name food items Example - malt-o-meal cereals come in large bags and are much cheaper than their brand name competitors.

Posted by anonymous on August 06, 2009 6:38 PM

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I work in a retail establishment, so when I am cashier, all the dollar coins and $2.00 bills that are received, I trade out and save. The coins will become heavy so I prefer not to carry around ( I put into a plastic 2qt pitcher)and the bills are too pretty to spend on frivolous things. Believe me this can add up quickly! That's how I am able to save for my necessities.

Posted by anonymous on August 09, 2009 3:01 PM

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Easy little tip I use to avoid those impulse buys. I don't get a shopping cart at the store. If I can't carry it I can't buy it. That is of course I'm going grocery shopping, I just stick to the list or I am specifically picking up an item I can not feasibley cary.

Posted by anonymous on August 13, 2009 8:27 PM

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The trick to saving is learning the difference between "needs" and "wants". Once you understand that - it's easier. I believe many of us buy to make us feel better about whatever is bothering us. The next time you "want" something ask yourself - do I really have to have this? Chances are - you don't. We taught our children to save very early - every time they received money - some was to save, some was to give (important to be charitable) and some was to spend. When taught this at a young age, it becomes second nature. I know many of the money gurus that are popular now will tell you to pay yourself first (save) and then pay your bills. Putting your savings account where it's inconvenient to access (no ATM card, across town, not in your regular bank) can also help. Once you begin to save and see the dollars grow, it becomes easier. Don't give up, if you "blow it" on something frivilous - just forgive yourself, learn from it and start again. There are just a few rules in life that must be obeyed - the rest are optional and we need to forgive ourselves when we break those.

Posted by Grannysmithe on September 01, 2009 2:15 AM

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I LOVE to play the lottery, but can't afford to lose the money, and dislike the fact that none of the money is going where it's needed. Now, when I feel that 'Lucky hunch', I write the numbers on a lottery card, take the money, & put it into empty coffee can. If I lose, the money grows in the can, if I win,(almost never) I take all of the cash & pay a bill. I have about $200 saved the past 3 months, money that the government didn't get!

Posted by anonymous on September 03, 2009 2:41 PM

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I live rural, so if and when I go to the city, I try to make that trip count for the gas etc. I write a list and go to the farthest point first, then work my way back towards home. If there are things that I still want or need, I tell myself "another trip and another day." I also "clean" my house before I go of any used books, records etc. and when I'm in the city, I sell them. It usually pays for my gas since I only go in about once every 4 or 5 months.

Posted by Kari K on September 03, 2009 3:53 PM

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shortly after my husband and i married, my folks got us the 'dave ramsey financial peace university' system. it was great. practical, and the challenge of trying something new was fun. after a year we had $1000 less debt and felt like we were doing something. we had a surprise car repair toward the end of that first year, and had enough to cover it because we saved it up in the envelope. that was really nice.

then we got 'free' with our money. 'stealing' from this envelope or that envelope to do something 'fun'. at first we kept track of how much we 'stole', but after a while the amounts were so large and we got so discouraged, we slipped into old habits.

year 2 after starting the system we haven't made any more progress on our own, so we're getting back into it--which is harder to start the second time around.

moral of the story: when you put money into the envelope, it gets used FOR ONLY THAT PURPOSE. don't make the same mistake we did.

Posted by heather on September 03, 2009 4:20 PM

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when i use the washer and dryer at home i put two dollars, one dollar for washing, and one for drying and save in a jar for a month write down
the total per month by the end of the year i take the amount plus coupons and go to the dollar store and buy your washing supplies that
you have used this is done with change you empty out of your purse every day if you went to a washateria it would cost you more the savings is pretty good its not like your spending money out of your pocket for supplies it has worked for me

Posted by karen b. on September 03, 2009 6:51 PM

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When my kids developed a fierce love for brand name cereals, I started putting their cereals in plastic containers with a scoop they could use to serve themselves. As the level got lower, I replaced their favorite brand name with a store/generic substitute; most stores do have inexpensive copies of the most popular brands. The kids never noticed the difference, but my budget sure did!

Posted by anonymous on September 04, 2009 11:50 AM

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Have a set amount automatically transferred from your checking account each week to your savings account. Even if it's only $20 a week. You at will be surprised just how fast it adds up. Out of sight, out of mind.

Posted by Terry In Alabama on September 12, 2009 1:29 PM

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This has been THE BEST thing for me to save $$$ and lots of it!
First get your payroll set up on direct deposit.
2nd- Set up a bank draft that will go to another financial institution(preferably a credit union) that you dont have every day accesses to, such as a debit/ATM card and home banking. (this will help you from getting to $$$ when you really dont need it)
3rd- set the bank draft to come out of the account that you have your payroll deposited on the SAME DAY your payroll gets deposited.
4th- set back and the savings will pile on!
My husband has his payroll set up like this and we save an extra $65 every week, on top of our normal savings!

Posted by anonymous on December 30, 2009 8:48 PM

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One of my frugal things is to stock up when items my family loves are on sale then hide them in back of freezer or cubbard for tight weeks !!

Posted by Alyce on January 21, 2010 11:47 AM

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Hubby has a full time job and a side job. Any money we make from his side job, my 2-3 garage sales each year, gift money, tax refund and any extra money 90% of it makes its way into a special savings fund. In Feb this year we started to also transfer $25 to $100 from our checking that contains his full time job income every week we transfer that much money depending how much overtime he got...and what bills we have to pay...by the end of the year we will have put an extra $1,000 plus in there by doing this!

I shop a lot with coupons and sales and get many free items. We are fully stocked on everything but milk, bread, dairy, produce. So we have to grocery shop very little. We don't need to buy many clothes since I do not work outside the home and hubby has uniform for work.

Posted by Lisa Cushin on March 02, 2010 10:39 PM

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My wife and I make a game out of seeing how much we can save. We create our budget based on a 48 week year (for those paid monthly this won't work), after a year we are a month ahead in each category.

Also with our budget, we round the amounts in each category up to the nearest number divisible by 5, that also creates a small surplus after a period of time.

Another trick I use is that I don't spend coins that I get back in change, at the end of the day it's all saved in special savings containers, currently over $2000. We have lots of other savings tricks.

Posted by Joe on June 01, 2010 7:02 AM

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First thing I always do: as soon as I get my paycheck, I quickly put away some money into my savings. It could be any amount, but I try to put away $50 into my savings account and then forget about it. Sometimes that's the only way I can save.
I will always buy store brand or generic anything as long as the quality isn't bad. I've never been able to tell the difference in quality between store brand and name brand anyway. I check out thrift shops, K-mart, Walgreens, JC Penney. I go to the 99 cent stores during Christmas to get cheap X-mas cards and wrapping paper among other things. I also give myself a budget everyday. For example, I try to spend only $20 a day except the weekends where I'll spend only $100 or under which is only for necessities and food. Right before I get paid again, I'll still try to put some money away to my savings.

Posted by anonymous on June 12, 2010 1:32 PM

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This message is for Jim Hill - Mr. Hill, I'm very interested in your post. My sister and I smoke and we'd like to get some information from you if you have a few minutes. We'd like to know more about the inexpensive tool to roll your own cigarettes, the hollow tubes you mention, and if filters are part of this process. Would you consider writing directly to me? My address is parnellpl(at)gmail(dot)com. If you respond to this, thank you very much for your time.

Posted by Pat-4 on June 12, 2010 11:06 PM

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I'm trying to find uses for coffee filters. Can't find it.

Thanks

Posted by Linda1 on January 10, 2011 5:41 PM

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@Linda1: I think this is the article you're looking for!

http://www.tiphero.com/tips_2319_25-uses-for-coffee-filters.html

Posted by Kira @ Tip Hero on January 11, 2011 11:54 AM

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