Wednesday, September 12, 2012

Favorite savings tips...

Hello all...
I'm still working a ton of hours and when I get a minute to update my debt ticker above, I will do that, but in the meantime I thought I'd let you all know what I've been doing with all the overtime pay I've been earning.  It has been so great to see these large paychecks coming and and even greater to see the money going out to reduce my debts.  I've been able to make great progress in reducing my debt while I've been working so much.  I'm currently ahead on my car payment through the end of January and while I've only been rounding my mortgage payment up a slight bit, I'm seeing greater decrease in this as well.  The main debt I've been hammering away at is my credit card which is now down to under $4,500!  Yay!  I can't wait to see this at zero.  I'm really hoping I can do it by the end of the year and hoping to eliminate the car loan by the end of 2013.  I think that paying debts off early is my greatest savings tip as this will reduce the interest paid over time and can save a bundle, but I also have many other savings tips that I use all the time.  Here are a few more of my most favorite. 
*I buy my bread at the Franz Bakery outlet for at least 75% off the retail price.
*I save all of my change and then cash it in at Coinstar for gift cards, when you do this, they don't charge the fee like they do when converting the change to cash.  Sometimes I'll get a gift card for a gift to give, sometimes I use it for Starbucks as a treat for myself. 
*I keep a running list of people I buy gifts for and ideas for each of them, that way when I'm out and about I can keep my eye out for sales that will stretch my gift giving dollars. 
*I can wear jeans to work and tend to buy all of mine at the thrift stores, they fit great and are already broken in without breaking my wallet. 
*I check out books and movies at the library rather than buying them. 
*I do all my grocery shopping at one store to take advantage of the loyalty points that give me a greater discount when buying gas there as well. 
*I never order a soda out at a restaurant, they are grossly overpriced, so I drink water, it's free and good for me. 
*Even though I'm busy, I make almost all of my food from scratch rather than stopping for fast food.  This is both cheaper and healthier. 
* I put most of my clothes in the dryer for only a couple of minutes, then hang them to dry.  This will lower the energy used to dry them and cut down on the wear and tear. 
Those are just a few of my tips for now.  If you have a great tip to share, I'd love to hear it.  Hope all is well with you! 
Current debt:  $237,617  (I love that this is dropping!!! ) 


Javier Bonnell said...

Good for you that working over time is helping a lot in your finances! Always be wary of your health though. :) How much more do you have to shell out for your mortgage? Just don’t let the pressure swallow you even with the credit card bills, mortgage, and car loan. One effective thing you must do is never fail to find the inspiration to work. ;) And I think you should also change the turtle in the debt ticker into some faster animal. ;)

Javier Bonnell

Jenna Simpson said...

I still have a list of your tips from years ago when you paid off...when you paid off your debt in I think it was 18 months. I printed it out an keep it in my debt book binder

Eustolia Nitta said...

Thanks for this enlightening post. I’m so happy that you are able to share tips on how to find means to minimize your expenditures and maximize your budget at the same time. Your pointers can be useful for everyone as they came from a firsthand experience. We share some common ways, and I must say that those are really effective! Anyway, I hope that your debt would continue to recede.

Eustolia Nitta