Among Friends

[justashopper]

There was an article that said the average person has $64,000 in savings.  They didn't say what was including in that amount. So interpert that the way you will... but it got me thinking

what's your hack to try to save money?  what do you do with the money you save? 

[rms1954]

The only "hack" is don't spend and don't use credit cards.

[Mom2Dogs]

We use our credit card a lot, and pay it off every month.

[rockygems123]

---

@justashopper wrote:

There was an article that said the average person has $64,000 in savings.  They didn't say what was including in that amount. So interpert that the way you will... but it got me thinking

what's your hack to try to save money?  what do you do with the money you save? 

---

@justashopper 

American Express online savings APR is 4.35% with no holding period as in a CD.

Savings tip is living within your means and beyond; i.e. make more $ than you spend.

Shop sales on essentials like grocery items and buy more what is needed vs what is wanted.

[Lucky Charm]

I roll every last bit into CDs.  This past week it was a 5.25% for 7 month-er.  Before you know it, it'll be October.

I don't use cash for anything.  Credit cards for even a pack of gum!  (I don't actually buy gum, but you get what I mean.)  Credit cards give cash back or gift cards for places we're always spending money.  Win/Win.

I use grocery stores that offer $$$ off gasoline-- which jumped 19 cents since Tues.  

[SaveTheTurtles]

We use no credit cards. I use a coupon app so scan each receipt for points which equate to gift cards for stores. But the main thing is to make sure to put money in savings every time you get paid. Invest wisely.

[They CallMe MRWILKES]

Using credit cards doesn't mean you are carrying a balance.  There is not always a negative connotation to credit card usage.  I see no reason to avoid their use, personally. 

I use mine for the cash back rewards on almost every purchase.  Once the charge is posted, reward accrued, I just go in and pay the charge.  I never wait for the end of a billing cycle.

I advise against the advice to avoid credit cards.  They can be a fabulous means to save and can be used exactly like cash, if you have the discipline and gumption.  Get a cash back card and USE IT!

For me, the cards are a very sound and rewarding financial management tool.

Of course,  this might not work for everyone.  Credit cards have been given a bad rap by those who likely have had a bad experience with them.

[tansy]

---

@Lucky Charm wrote:

I roll every last bit into CDs.  This past week it was a 5.25% for 7 month-er.  Before you know it, it'll be October.

I don't use cash for anything.  Credit cards for even a pack of gum!  (I don't actually buy gum, but you get what I mean.)  Credit cards give cash back or gift cards for places we're always spending money.  Win/Win.

I use grocery stores that offer $$$ off gasoline-- which jumped 19 cents since Tues.  

---

I also use a cash back CC for virtually every purchase.  I check the balance every day or so for accuracy and to prevent overspending.

[katie1859]

I live below my means

I don't use credit and pay cash for goods

I have a monthly budget that is created every month ahead

I have 1000.00 put aside for emergencies

I put aside a cash flow savings of 6 mn if expenses

And I buy stock in my employer stock plan

Plus I maximize my 401k bc of employer contributions

So it's a rule in my life to spend with thought, save with intention and plan everything else. 

Now days, it's required 

I have to save on groceries, so yes I budget that too. Making a weekly menu with a list is my savings grace. 

Tough times means sacrifice big time.

[deeva]

Start paying yourself as soon as you get your first job. Then, if you employer offers a 401k, invest in it. Always live below your means. 

Instead of wasting money on extended warranties, I put maybe $20 or $50 a month in savings and when something breaks, I have the money to pay for the repair using a reliable company that I choose, not one chosen by the warranty company.

I use a credit card for most purchases, but I pay the entire balance off every month.